The New India Assurance Company Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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The New India Assurance Company Limited reported total income of Rs 46,49,919 lakhs for FY2026, up 13.2% from Rs 41,06,610 lakhs in FY2025. Net premium grew to Rs 47,17,380 lakhs from Rs 43,61,840 lakhs. Profit after tax improved significantly to Rs 1,26,145 lakhs versus Rs 1,03,448 lakhs in the prior year, representing 22% PAT growth. The Board recommended a final dividend of Rs 1.50 per share, down from Rs 1.80 per share in FY2025. The auditors issued a qualified opinion due to unconfirmed balances in inter-office accounts, banking transactions, and reinsurance dues where the overall impact remains unquantifiable. Key emphasis of matter notes include contingent tax liabilities of Rs 83,090 lakhs, GST demands of Rs 3,23,989 lakhs (under dispute), and internal control strengthening requirements.
The qualified audit opinion signals reconciliation issues in reinsurance and inter-office accounts that shareholders should monitor. While profitability improved substantially, the reduction in dividend and pending tax/GST disputes totaling over Rs 4 lakh crore in contingent liabilities may create uncertainty around the company's financial stability.