Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
---|---|---|---|---|---|---|---|
Primex-40 | |||||||
Care Health Insurance Limited |
Particulars |
As at 31 March 2023 |
As at 31 March 2022 |
APPLICATION OF FUNDS |
|
|
INVESTMENTS - Shareholders |
1,921.16 |
1,105.64 |
INVESTMENTS - Policyholders |
3,155.13 |
2,460.44 |
Loans |
- |
- |
Fixed Assets |
56.18 |
55.07 |
Deferred Tax Asset (Net) |
46.81 |
39.95 |
CURRENT ASSETS |
|
|
Cash and Bank Balances |
99.81 |
78.69 |
Advances and Other Assets |
237.30 |
157.48 |
Sub-Total (A) |
337.11 |
236.17 |
Deferred Tax Liability (Net) |
|
|
Current Liabilities |
1,559.46 |
1,161.19 |
Provisions |
2,213.42 |
1,529.17 |
Sub-Total (B) |
3,772.88 |
2,690.36 |
Net Current Assets (C) = (A - B) |
-3,435.77 |
-2,454.19 |
Miscellaneous Expenditure |
|
|
Debit Balance In Profit And Loss Account |
- |
81.83 |
TOTAL |
1,743.51 |
1,288.74 |
SOURCES OF FUNDS |
|
|
Share Capital |
942.23 |
908.57 |
Share Application Money Pending Allotment |
|
|
Reserves And Surplus |
806.94 |
380.63 |
Fair Value Change Account |
|
|
-Shareholders ' Funds |
-5.60 |
-0.57 |
-Policyholders ' Funds |
-0.06 |
0.11 |
Borrowings |
- |
- |
TOTAL |
1,743.51 |
1,288.74 |
PARTICULARS |
2023 |
2022 |
OPERATING PROFIT/(LOSS) |
|
|
(a) Fire Insurance |
|
|
(b) Marine Insurance |
|
|
(c ) Miscellaneous Insurance |
643.72 |
282.97 |
INCOME FROM INVESTMENTS |
|
|
(a) Interest, Dividend & Rent – Gross |
101.87 |
63.03 |
(b) Profit on sale of investments |
7.64 |
1.89 |
(c) Loss on sale/ redemption of investments |
-0.44 |
-2.57 |
(d) Amortization of Premium / Discount on Investments |
-4.01 |
-3.95 |
OTHER INCOME |
|
|
(a) Provision no longer required written back |
|
|
TOTAL (A) |
748.78 |
341.37 |
PROVISIONS (Other than taxation) |
|
|
(a) For diminution in the value of investments |
|
|
(b) For doubtful debts |
|
|
(c) Others |
|
|
OTHER EXPENSES |
|
|
(a) Expenses other than those related to Insurance Business |
6.02 |
4.60 |
(b) Bad debts written off (Net of Provision) |
1.37 |
0.70 |
(c) Interest on subordinated debt |
- |
- |
(d) Expenses towards CSR activities |
1.05 |
1.32 |
(e) Penalties |
|
|
(f) Contribution to Policyholders ' A/c |
|
|
(i) Towards Excess Expenses of Management |
414.17 |
318.70 |
(ii) Others |
|
|
(g) Others |
|
|
(i) Foreign Exchange Loss/(Gain) |
-1.79 |
0.50 |
(ii) Sandbox related expenses |
|
|
TOTAL (B) |
420.82 |
325.82 |
Profit / (Loss) Before Tax |
327.96 |
15.55 |
Provision for Taxation |
|
|
Current tax |
88.98 |
1.84 |
Deferred tax Expense/(Income) |
-6.86 |
2.21 |
Profit / (Loss) After Tax |
245.84 |
11.50 |
APPROPRIATIONS |
|
|
(a) Interim dividends paid during the year |
|
|
(b) Final dividend Paid |
|
|
(c) Transfer to any Reserves or Other Accounts |
|
|
Balance of profit/ (loss) brought forward from last year |
-81.83 |
-93.33 |
Balance carried forward to Reserves and Surplus/Balance Sheet |
164.01 |
-81.83 |
Particulars |
31st March 2023 |
31 March 2022 |
A. Cash Flow from Operating Activities |
|
|
Premium received from policyholders, including advance receipts |
6,215.58 |
4,695.90 |
Other receipts |
|
|
Payments to the re-insurers, net of commissions and claims |
141.26 |
233.57 |
Payments to co-insurers, net of claims recovery |
-14.41 |
2.66 |
Payments of claims |
-2,480.51 |
-2,073.18 |
Payments of commission and brokerage |
-788.65 |
-476.05 |
Payments of other operating expenses* |
-1,297.23 |
-1,227.06 |
Preliminary and pre-operative expenses |
- |
- |
Deposits, advances and staff loans |
-2.11 |
-4.69 |
Income taxes paid (Net) |
-65.00 |
-7.78 |
Goods & Service tax paid |
-679.64 |
-475.86 |
Other payments |
|
|
Cash flows before extraordinary items |
1,029.29 |
667.51 |
Cash flow from extraordinary operations |
- |
- |
Net cash flow from Operating activities |
1,029.29 |
667.51 |
Cash flows from Investing activities: |
|
|
Purchase of fixed assets (including capital advances) |
-29.78 |
-29.81 |
Proceeds from sale of fixed assets |
0.14 |
0.09 |
Purchases of investments |
-2,102.12 |
-1,136.35 |
Loans disbursed |
- |
- |
Sales of investments |
46.15 |
11.67 |
Repayments received |
443.91 |
296.55 |
Rents/Interests/ Dividends received |
253.45 |
184.14 |
Investments in money market instruments and in liquid mutual funds (Net) |
82.56 |
-113.45 |
Expenses related to investments |
- |
- |
Net cash flow from Investing activities |
-1,305.71 |
-787.16 |
Cash flows from Financing activities: |
|
|
Proceeds from issuance of share capital |
295.75 |
153.16 |
Proceeds from borrowing |
- |
- |
Repayments of borrowing |
- |
- |
Interest/dividends paid |
- |
- |
Net cash flow from Financing activities |
295.75 |
153.16 |
Effect of foreign exchange rates on cash and cash equivalents, net |
1.79 |
-0.50 |
Net increase in cash and cash equivalents: |
21.13 |
33.01 |
Cash and cash equivalents at the beginning of the year |
78.69 |
45.68 |
Cash and cash equivalents at the end of the year |
99.81 |
78.69 |
Particulars |
2023 |
2022 |
Dividend per Share |
- |
- |
Operating Profit/(Loss):
The company 's operating profit in the Fire Insurance segment showed a substantial increase from INR 282.97 crore in 2022 to INR 643.72 crore in 2023, indicating robust performance and profitability in this specific insurance category.
Income from Investments:
Interest, Dividend & Rent – Gross increased from INR 63.03 crore in 2022 to INR 101.87 crore in 2023, signifying higher income generated from investments.
Profit on the sale of investments also grew from INR 1.89 crore in 2022 to INR 7.64 crore in 2023, reflecting gains from investment sales.
Loss on sale/redemption of investments improved from INR -2.57 crore in 2022 to INR -0.44 crore in 2023, indicating better control over investment losses.
Amortization of Premium/Discount on Investments increased slightly from INR -3.95 crore in 2022 to INR -4.01 crore in 2023.
Profit / (Loss) Before Tax:
The company achieved a substantial improvement in its profitability before tax. Profit before tax surged from INR 15.55 crore in 2022 to INR 327.96 crore in 2023, indicating a remarkable turnaround in financial performance.