Board approves unaudited Q2 and H1 results; fund raise up to ₹ 2,87,50,00,000 via Non-Convertible Debentures

Unaudited financial results for the quarter and half-year ended 30 September 2026; joint statutory auditors issued a limited review report without any observations or remarks.

Fri 9 Oct 2026

Net premium income (H1)

₹4,60,068 lakh

Profit after tax (H1)

₹7,119 lakh

Solvency ratio

180%

The board of the company met on 9 October 2026 and approved two items: the unaudited financial results for the quarter and half-year ended 30 September 2026, and a fund raise through Non-Convertible Debentures.

What the board approved

• The unaudited financial results for the quarter and half-year ended 30 September 2026. The results were reviewed and recommended by the Audit Committee and approved by the Board.
• Raising of funds, subject to receipt of necessary approvals as may be required, by issue of Non-Convertible Debentures in the nature of subordinated debt instruments for an amount not exceeding ₹ 2,87,50,00,000 (Rupees Two Hundred Eighty Seven Crore and Fifty Lakh Only), in one or more series/tranches, on a private placement basis.

The numbers in the results

• Joint statutory auditors Brahmayya & Co. and M. Bhaskara Rao & Co. issued a limited review report without any observations or remarks.
• Net premium income for the half year: ₹4,60,068 lakh.
• Profit before tax for the half year: ₹7,972 lakh.
• Profit after tax for the half year: ₹7,119 lakh.
• Basic earnings per share for the half year, not annualised: 0.75.
• Net worth: ₹1,63,866 lakh.
• Borrowings: ₹25,000 lakh.
• Solvency ratio: 180%.

A point the auditors highlighted

The company has prepared its financial statements in accordance with the accounting principles generally accepted in India (Indian GAAP) and Schedule II of the IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024, pursuant to the forbearance received from IRDAI permitting it to defer the adoption of Ind AS for a period of one year. The auditors stated that their conclusion is not modified in respect of this matter.

On the actuarial side

The actuarial valuation of liabilities for life policies in force and for policies in respect of which premium has been discontinued but liability exists as at 30 September 2026 is the responsibility of the company's Appointed Actuary, and has been certified by the Appointed Actuary.

Reading it simply

• The results are drawn up in the format prescribed for life insurers, with separate policyholders' and shareholders' accounts.
• The debentures are described in the update as Non-Convertible Debentures in the nature of subordinated debt instruments, to be issued on a private placement basis.
• The fund raise is approved subject to receipt of necessary approvals as may be required.

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