Key Quantitative Figures (Q1 FY27 ended June 30, 2026)
Profitability:
- Profit before tax: ₹183.74 crore
- Profit for the period (after tax): ₹137.80 crore
- Earnings per share (Basic & Diluted): ₹0.75 & ₹0.74
Revenue & Expenses:
- Total Insurance Revenue: ₹2,273.72 crore (28.6% YoY growth from ₹1,768.61 crore in Q1 FY26)
- Incurred Claims: ₹1,443.81 crore
- Commission Expenses: ₹464.08 crore
- Other Expenses: ₹195.13 crore
- Total Investment Income: ₹197.54 crore
Balance Sheet:
- Total Assets: ₹11,881.70 crore
- Total Liabilities: ₹8,045.92 crore
- Total Equity: ₹3,835.78 crore
Key Ratios:
- Insurance Service Margin: 6.45%
- Claims Ratio: 63.01%
- Expense Ratio: 30.54%
- Combined Operating Ratio (CoR): 93.55%
- Solvency Ratio: 2.25
- Return on Equity (RoE): 3.71%
Fund Raising Approval
The Board approved a proposal to raise funds by issuing listed, rated, unsecured, subordinated, redeemable, non-convertible debentures (NCDs) of up to ₹500.00 crores (Indian Rupees Five Hundred Crores only) in one or more tranches on a private placement basis. A Debt Raising Committee (DRC) has been constituted to determine and finalize the terms and conditions of issuance and allotment. Detailed terms will be disclosed upon finalization.
Emphasis of Matter by Auditors
The joint statutory auditors, S.R. Batliboi & Co. LLP and Nangia & Co LLP, issued an unmodified review conclusion. However, they emphasized a matter regarding Expenses of Management (EOM).
The Company has filed an application with IRDAI for forbearance for exceeding the allowable EOM limit as per IRDAI regulations for FY 2024-25. The approval is pending. The consequential impact, if any, cannot be presently determined. The Company's EOM ratio for Q1 FY27 stands at 35.15% against a maximum allowed limit of 36.24%.
Transition to Indian Accounting Standards (Ind AS)
The Company implemented Ind AS effective April 1, 2026. The results for the current and comparative periods have been prepared in accordance with Ind AS. A reconciliation of equity and net profit from Previous GAAP to Ind AS is provided in the notes. The opening equity as of April 1, 2025, was restated from ₹3,06,084 lakhs (Previous GAAP) to ₹3,30,116 lakhs (Ind AS).
Other Material Disclosures
GST Matter: A GST demand and penalty order of ₹287 lakhs from the Adjudicating Authority - Meerut was accepted by the Company, and the amount was paid. A refund of ₹2,213 lakhs, initially rejected, was subsequently sanctioned and received in the bank account on July 21, 2026, after the quarter-end.
Tax Contingency: The Company has received income tax assessment orders for AY2020-21 to AY2023-24 demanding ₹12.716 lakhs. Appeals have been filed, and the amount is disclosed as a contingent liability.
ESOP Allotment: During the period, the Company allotted 1,776,932 equity shares pursuant to the exercise of employee stock options.
Segment Reporting: Segment-wise revenue for Q1 FY27 is Health (₹2,471.75 crore), Personal Accident (₹38.48 crore), and Travel (₹3.59 crore). The Health segment contributed the majority of the profit (₹128.83 crore).
Corporate Details: The meeting commenced at 3:00 PM IST and concluded at 3:45 PM IST on July 30, 2026. The company has no subsidiaries, associates, or joint ventures. The document was signed by Aparna Sharma, Company Secretary and Compliance Officer.