Audited Financial Results for the quarter and financial year ended March 31, 2026
NIVABUPA · price
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Niva Bupa Health Insurance Company reported audited financial results for Q4 and FY26. Gross Direct Premium grew 27% YoY to Rs 8.59 lakh lakh in FY26 from Rs 6.76 lakh lakh. However, Profit After Tax declined 39% to Rs 13,078 lakh from Rs 21,352 lakh due to combined ratio above 100% (103.39%) indicating claims and expenses exceeded earned premiums. Q4 performance was strong with PAT jumping 67% YoY to Rs 34,513 lakh. The EOM ratio improved from 39.22% in FY25 to 33.70% in FY26, though auditors flagged in Emphasis of Matter that the company has applied for forbearance from IRDAI regarding EOM exceeding allowable limits for FY24-25. Solvency ratio remains healthy at 2.49x. Joint statutory auditors issued unmodified opinion.
Positive Q4 recovery signals improving operational efficiency but FY26 PAT decline and combined ratio above 100% indicate ongoing margin pressure. The pending IRDAI forbearance decision on EOM regulations adds regulatory uncertainty. Healthy solvency provides buffer but shareholders should monitor cost containment measures.