Outcome of Board Meeting

f( fdFr}s Phone 022-22708100 ={ EFe*rqF+crF 22708400 THE NEW INDIA ASSURANCE COMPANY LTD. Website www.newindia.co.in t$tr,-cqduen+q'rsf{q : {Ef<+r\ltc<RRirT, 87, warffirli$qFf, std, ic{ - +oo oot Regd & Head Ofllce : New lndia Assurance Bldg., 87, M.G. Road, Fort; Mumbai - 400 001 CIN No. 166000MH1919GO1000526 Ref. No. : NIACL/ CMD_BoardSe ctt / 2026-27 24h July 2026 The Manager The Manager Listing Department Listing Department BSE Limited The National Stock Exchange of India Ltd PhirozeJeejeebhoy Tower Exchange Plaza,Sth floor, Plot C/ 1, Dalal Street G Block, Bandra-Kurla Complex Mumbai 400 001 Mumbai 400 051 Scrip Code: (BSE - 540769lNSE - NIACL) Dear Sir/Madam, Sub: Outcome of the Board Meetlng held on 24th July. 2O26 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2OI5, we hereby notify that the Board of Directors of the Company, at their meeting held on Friday, 24tb Jluly 2026 in Mumbai via hybrid mode have approved inter-alia, 1. Un-Audited Financial Results of the Company for the quarter ended June 30, 2026. Pursuant to Regulation 33 of SEBI (Listing Obligation and Disclosure Requirements), 2015 ("the Regulation") and other applicable requirements, a copy of the un-audited financial results for the quarter ended June 30, 2O26 together with the Auditors Report is enclosed. A copy of the Press Release being issued in this connection is also attached. The meeting of the Board of Directors of the Company commenced at 16.30 pm and concluded at l9.3op.m. The above information is being made available on the Company's website www.newlndla.co.ln. Thanking You Yours faithfully For The New India Assurance Conpany Ltmited H.o. Pagaria Company Secretary S. Ramanand Aiyar & Co. Chokshi & Chokshi tLP Chartered Accountants Chartered Accountants 50t/502,5th Floor, L5 /L7, Raghavji 'B'Bldg,, Umerji House, Raghavji Road, Gowalia Tank, Teli Gully, Andheri, Off Kemps Corner, Mumbai - 400036 Mumbai- 400069 LLP Registration No. AAC-8909 lndependent Auditors' Limited Review Report on Unaudited Standalone Financiat Results of The New India Assurance Company Limited for the quarter ended June 30, 2026, pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosures Requirements) Regulations,2OlS, as amended, read with IRDAI Circular no. IRDAI/F&A/CIRULFTD/027 tO1t2O17 dated January 30, 2017 The Board of Directors The New lndia Assurance Company Limited Mumbai lntroduction We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of The New lndia Assurance Company Limited ("the Company") for the quarter ended June 30, 2026 (the "Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations"), read with lnsurance Regulatory and Development Authority of lndia ("lRDAl"/ the "Authority") Circular no. IRDAI/F&A/CIR/LFTDI 027t01t2017 dated January 30, 2017. ManagementResponsibility This Statement, which is the responsibility of the Company's Management and approved by its Board of Directors, has been prepared by the Company's Management in accordance with the recognition and measurement principles laid down in Accounting Standard 25 "lnterim Financial Reporting" ("AS 25'), specified under section 133 of the Companies Act 2013,as amended, read with the Companies (Accounting Standards) Rules, 2021, including the relevant provisions of the lnsurance Act 1938 (the "lnsurance Act"), the lnsurance Regulatory and Development Authority of lndia Act,1999 (the "lRDAl Act") and IRDAI (Actuarial, Finance and lnvestment Functions of lnsurers) Regulations 2024 (the "lRDA| Financial Statements Regulations"); orders/directions/ circulars issued by the IRDAI to the extent applicable and other recognized accounting practices and policies generally accepted in lndia. Our responsibility is to express a conclusion on the Statement based on our review. Scope of Review We conducted our review of the Statement in accordance with the standard on Review Engagement (SRE) 2410, "Review of lnterim financial information peformed by lndependent Auditor of the entity", issued by The lnstitute of Chartered Accountants of lndia. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. We have not performed an audit and accordingly, we do not express an audit opinion. [ Page 1 of 3 {r \ r,:,,r 1':-; .rrr',Jio.r)l :'a.y- :::,',"' ",,, S. Ramanand Aiyar & Co. Chokshi & Chokshi ILP Chartered Accountants Chartered Accountants As part of our review, we have visited 8 domestic Regional Offices/LCBO's/Other offices of the Company and in respect of interim financial information relating to other domestic Offices of the Company not visited by us, the information to the extent made available centrally at Head Office of the Company has been considered. Basis for Qualified Gonclusion Reference is invited to Note No.5 relating to certain balances where process of reconciliation, compilation and confirmation is at different stages and necessary adjustments arising out of which are yet to be carried out. The overall effect of the same cannot be ascertained pending such confirmation and reconciliation. QualifiedConclusion Based on our review conducted as above and based on the consideration of the review reports of the other auditors referred to in paragraph 7(a) below, with the exception of the matter specified in the basis for Qualified Conclusion paragraph, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with Accounting standard 25, "lnterim Financial Reporting", specified under section 133 of the Companies Act 2013, as amended, read with the Companies (Accounting Standards) Rules, 2021,including the relevant provisions of the lnsurance Act 1938, the lnsurance Regulatory and Development Authority of lndia Act,1999 and IRDAI (Actuarial, Finance and lnvestment Functions of lnsurers) Regulations 2024; orders/directions/circulars issued by the IRDAI to the extent applicable and other recognized accounting practices and policies, has not disclosed the information required to be disclosed in terms of Regulations 33 of the Listing Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement. Emphasis of Matters We draw attention to the following matters forming part of the notes to the Statement: a) Note no. 8a and 9 regarding non provisioning for Tax Demands on account of favorable judgements received by the Company for lncome Tax, GST and Service Tax that are sub-judice with various Appellant Authorities/ Hon'ble Bombay High Court. Same is considered as Contingent Liabilities amounting lo7682171Lakhs. Note no. 8b regarding deferred tax expense of 15921 Lakhs due to irrevocable opting of New Tax Regime under Section 200 of the lncome TaxAct,2025. Note No. 10 regarding strengthening of lnternal controls and lnternal audit especially in the area of data input and validation in software and internal audit system of the Company. Note No. 1 1 change in the reporting period of Bangkok and Fiji branches from a calendar year (January to December) to a financial year (April to March) resulting into increase in revenue by <6716 Lakhs and increase in net loss by t852 Lakhs. Note No. 12 regarding the compliance of Rule 3(1) of The Companies (Accounts) Rules, 20 [Showing first 8,000 characters — download PDF for full document]