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Swing Capital

Niva Bupa Health Insurance Company Ltd

NSE: NIVABUPA BSE: 544286Finance

Incorporated in 2008, Niva Bupa Health Insurance Ltd is a Tech driven leading health insurer in India.[1]

₹80
52W: ₹67.5 — ₹95.2
PE 113 · Book ₹20.5 · +290% vs book
Market Cap₹14,780 Cr
Stock P/E113Price to Earnings
ROCE3.45%Return on Capital
ROE3.82%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 35.9% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 3.91 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Tax rate seems low
  • −Company has a low return on equity of 5.64% over last 3 years.

Shareholding Pattern

Promoters55.36%
FIIs10.6%
DIIs16.49%
Public17.56%
CategoryDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters55.98%55.98%55.43%▼0.555.41%▼0.055.36%▼0.055.36%
FIIs8.85%8.9%▲0.110.76%▲1.910.72%▼0.010.31%▼0.410.6%▲0.3
DIIs9.82%9.71%▼0.115.06%▲5.315.31%▲0.316.04%▲0.716.49%▲0.4
Public25.36%25.42%▲0.118.74%▼6.718.57%▼0.218.27%▼0.317.56%▼0.7

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,0261,3161,1241,3211,2581,6711,3711,5741,6112,139
Expenses1,0711,2151,2281,3871,2821,4201,4641,6271,7051,773
Operating Profit-46100-103-66-24251-93-53-94365
OPM %-4%8%-9%-5%-2%15%-7%-3%-6%17%
Net Profit5157-191313206-91-35-88345
EPS ₹00000.071.13-0.5-0.19-0.471.87

AI Insights

Revenue Trend

Mar 2026 revenue at ₹6,695Cr, up 24.6% YoY. OPM at 2%.

Debt Position

Borrowings at ₹250Cr. Debt-to-equity ratio: 0.13x. Healthy balance sheet.

Institutional Flow

DIIs: 16.49% (+6.67pp change). FIIs: 10.6% (+1.75pp change). Promoters hold 55.36%.

Margin & Efficiency

ROCE improving from 0% (Mar 2019) to 3% (Mar 2026). Working capital days: -322.

Valuation

PE 113x with 3.45% ROCE. Price is 290% above book value of ₹20.5. Dividend yield: 0%.

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