| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Go Digit |
|
Particulars |
31st March 2023 |
31st March 2022 |
31st March 2021 |
31st March 2020 |
|
SOURCES OF FUNDS |
|
|||
|
Share Capital |
87,40,179 |
85,90,118 |
82,46,919 |
81,68,431 |
|
Reserves and Surplus |
2,38,36,089 |
1,97,50,705 |
97,31,369 |
83,62,512 |
|
Borrowings |
- |
- |
- |
- |
|
TOTAL |
3,34,67,539 |
2,91,90,059 |
1,87,47,950 |
1,63,54,060 |
|
APPLICATION OF FUNDS |
|
|||
|
Investments-Shareholders |
2,17,15,246 |
1,60,14,281 |
1,37,87,947 |
68,75,502 |
|
Investments-Policyholders |
10,21,75,345 |
7,64,59,289 |
4,05,14,280 |
2,78,80,110 |
|
Fixed Assets |
16,20,050 |
14,85,018 |
10,24,080 |
8,74,431 |
|
Deferred Tax Assets |
- |
- |
- |
- |
|
Current Assets |
|
|||
|
Cash and Bank Balances |
27,93,009 |
14,65,179 |
15,98,875 |
7,42,532 |
|
Advances and Other Assets |
65,91,930 |
50,53,497 |
31,16,000 |
25,58,240 |
|
Sub-Total (A) |
93,84,939 |
65,18,676 |
47,14,875 |
33,00,772 |
|
Current Liabilities |
7,98,24,547 |
5,75,18,359 |
3,23,63,422 |
1,93,04,079 |
|
Provisions |
3,06,56,645 |
2,31,77,469 |
1,53,79,835 |
84,95,109 |
|
Sub-Total (B) |
11,04,81,192 |
8,06,95,828 |
4,77,43,257 |
2,77,99,188 |
|
Net Current Assets (C) = (A - B) |
(10,10,96,253) |
(7,41,77,152) |
(4,30,28,382) |
2,44,98,416 |
|
TOTAL |
3,34,67,539 |
2,91,90,059 |
1,87,47,950 |
1,63,54,060 |
|
Particulars |
2023 |
2022 |
2021 |
2020 |
|
Operating Profit/(Loss) |
|
|||
|
Fire Insurance |
2,20,825 |
(4,17,468) |
(4,25,707) |
(3,30,283) |
|
Marine Insurance |
(68,171) |
927 |
(5043) |
(4,808) |
|
Miscellaneous Insurance |
(8,15,404) |
(33,34,983) |
(14,24,119) |
(19,34,379) |
|
TOTAL |
(6,62,750) |
(37,51,524) |
(18,54,869) |
(922,69,470) |
|
Income from investments |
|
|||
|
(a) Interest, Dividend & Rent – Gross |
9,92,012 |
7,49,753 |
5,58,169 |
5,22,559 |
|
(b) Profit on sale of investments |
61,345 |
84,684 |
1,11,257 |
22,446 |
|
TOTAL (A) |
3,91,867 |
(29,36,505) |
(11,85,443) |
(17,25,831) |
|
Other expenses |
|
|||
|
Expenses other than those related to Insurance Business |
36,028 |
19,980 |
42,149 |
26,633 |
|
Profit/Loss on Sale/Write off of Fixed Assets (Net) |
367 |
2,113 |
- |
- |
|
TOTAL (B) |
36,395 |
22,093 |
42,149 |
26,633 |
|
Profit Before Tax (A-B) |
3,55,472 |
(29,58,598) |
(12,27,592) |
(17,52,464) |
|
Total Tax |
- |
- |
- |
- |
|
Profit/ (Loss) After Tax |
3,55,472 |
(29,58,598) |
(12,27,592) |
(17,52,464) |
|
EPS (Basic & Diluted) |
0.41 |
(3.55) |
(1.50) |
(2.41) |
|
Particulars |
As on 31st Mar 2023 |
As on 31st Mar 2022 |
As on 31st Mar 2021 |
|
Cash flows from operating activities |
|
||
|
The premium received from policyholders, including advance receipts |
8,23,48,140 |
6,09,52,361 |
3,61,67,977 |
|
Payments to/from re-insurers, net of commission and claims |
(36,30,659) |
(33,77,892) |
(8,53,615) |
|
Payments to/from co-insurers, net of claims |
45,13,919 |
28,94,971 |
12,26,694 |
|
Payments of claims |
(2,06,06,361) |
(1,06,87,786) |
(48,38,247) |
|
Payments of commission and brokerage |
(43,45,113) |
(26,48,325) |
(12,26,176) |
|
Payments of other operating expenses |
(2,68,32,453) |
(1,69,24,382) |
(1,02,90,741) |
|
Deposits, advances, and staff loans, net |
(13,340) |
- |
(74) |
|
Goods and services tax paid, net (including erstwhile service tax) |
(91,58,844) |
(55,01,811) |
(45,52,137) |
|
Cash flows before extraordinary items |
2,22,75,289 |
2,47,07,136 |
1,56,33,680 |
|
Cash flows from extraordinary items |
- |
- |
- |
|
Net cash flows from operating activities (A) |
2,22,75,289 |
2,47,07,136 |
1,56,33,680 |
|
Cash flows from investing activities |
|
||
|
Purchase of fixed assets |
(2,06,615) |
(4,99,383) |
(2,71,626) |
|
Proceeds from sale of fixed assets |
2,611 |
- |
- |
|
Purchase of investments |
(7,18,92,651) |
(5,53,55,133) |
(2,40,97,903) |
|
Sale of investments/ redemption |
4,32,57,003 |
1,62,43,033 |
69,43,421 |
|
Rent / Interests / Dividend received |
63,62,205 |
41,39,284 |
29,74,141 |
|
Investment in money market instruments and liquid mutual funds, net |
(26,62,681) |
6,09,840 |
(19,12,408) |
|
Expenses related to investments |
(2758) |
(9,663) |
(1,755) |
|
Net cash flows from investing activities (B) |
(2,51,42,886) |
(3,48,72,022) |
(1,63,66,130) |
|
Cash flows from financing activities |
|
||
|
Proceeds from issue of share capital, net of share issue expenses |
41,92,927 |
1,00,31,190 |
15,88,793 |
|
Net cash flows from financing activities (C) |
41,92,927 |
1,00,31,190 |
15,88,793 |
|
Net increase in cash and cash equivalents (A+B+C) |
13,25,330 |
(1,33,696) |
8,56,343 |
|
Cash and cash equivalents at the beginning of the year |
14,65,179 |
15,98,875 |
7,42,532 |
|
Cash and cash equivalents at the end of the year |
27,90,509 |
14,65,179 |
15,98,875 |
Summary of cash flow statement of last 4 years:
Operating Activities:
- The premium received from policyholders showed consistent growth, reaching Rs. 8,23,48,140 in 2023.
- Payments to/from re-insurers and co-insurers increased over the years, reflecting management of reinsurance and co-insurance arrangements.
- Payments of claims, commission, and other operating expenses also increased.
- Goods and services tax paid, including erstwhile service tax, increased annually.
Investing Activities:
- Purchase of fixed assets and investments occurred each year, with varying amounts.
- Sale/redemption of investments generated significant cash inflow.
- Rent, interests, dividends received increased annually.
Financing Activities:
- Proceeds from the issue of share capital fluctuated.
Overall, the company experienced growth in premium receipts and made significant payments for claims and operating expenses. Investments and fixed assets were acquired, and cash was generated through investment activities. The company also raised capital through the issue of share capital.
|
Particulars |
31 March, 2022 |
31 March, 2021 |
31 March, 2020 |
|
Current Ratio (in times) |
0.11 |
0.15 |
0.17 |
|
Net Commission Ratio |
3.81% |
2.57% |
-1.25% |
|
Net Retention Ratio |
79.35% |
81.16% |
69.29% |
|
Gross direct premium to net-worth ratio (in times) |
2.50 |
2.13 |
1.58 |
|
Net Incurred Claims to Net Earned Premium |
74.02% |
74.03% |
75.00% |
|
Combined Ratio |
112.66% |
109.42% |
117.41% |
|
Liquid Assets to liabilities ratio |
39.88% |
31.23% |
20.26% |
|
Available Solvency Margin (ASM) to Required Solvency Margin (RSM) Ratio |
2.01 |
2.01 |
3.24 |
|
Operating Profit Ratio |
-11.02% |
-9.54% |
-18.28% |
|
Net Earnings Ratio |
-8.69% |
-6.32% |
-14.12% |
|
Return on Net Worth Ratio |
-15.85% |
-10.60% |
-15.61% |
The financial ratios of Go Digit indicate its financial performance and health for the years ending March 31, 2020, 2021, and 2022. Here is a summary of the ratios:
Current Ratio: This ratio measures the company 's ability to pay its short-term liabilities using its short-term assets. A higher current ratio is preferable. Go Digit 's current ratio has decreased from 0.17 in 2020 to 0.11 in 2022, indicating a decline in its liquidity position.
Net Commission Ratio: This ratio measures the percentage of premium income retained by the company after paying commissions to agents. Go Digit 's net commission ratio has increased from 2.57% in 2021 to 3.81% in 2022, indicating an improvement in its commission management.
Net Retention Ratio: This ratio measures the percentage of premiums retained by the company after deducting reinsurance costs. Go Digit 's net retention ratio has decreased from 81.16% in 2021 to 79.35% in 2022, indicating an increase in reinsurance costs.
Gross direct premium to the net-worth ratio: This ratio measures the amount of gross direct premium written by the company in proportion to its net worth. Go Digit 's gross direct premium to net-worth ratio has increased from 1.58 in 2020 to 2.50 in 2022, indicating growth in business volume.
Net Incurred Claims to Net Earned Premium: This ratio measures the percentage of claims incurred by the company for every unit of premium earned. Go Digit 's net incurred claims to net earned premium ratios have remained stable at around 74% for the past three years.
Combined Ratio: This ratio measures the overall underwriting profitability of the company. A combined ratio above 100% indicates an underwriting loss. Go Digit 's combined ratio has increased from 109.42% in 2021 to 112.66% in 2022, indicating a decline in underwriting profitability.
Liquid Assets to Liabilities Ratio: This ratio measures the company 's ability to pay its short-term liabilities using its liquid assets. Go Digit 's liquid assets to liabilities ratio has increased from 20.26% in 2020 to 39.88% in 2022, indicating an improvement in its liquidity position.
Available Solvency Margin (ASM) to Required Solvency Margin (RSM) Ratio: This ratio measures the company 's solvency position, with a higher ratio indicating better solvency. Go Digit 's ASM to RSM ratio has remained stable at around 2 for the past three years.
Operating Profit Ratio: This ratio measures the company 's operating profit as a percentage of its revenue. A negative operating profit ratio indicates an operating loss. Go Digit s operating profit ratio has worsened from -9.54% in 2021 to -11.02% in 2022.
Net Earnings Ratio: This ratio measures the company ' net earnings as a percentage of its revenue. A negative net earnings ratio indicates a net loss. Go Digit 'snet earnings ratio has worsened from -6.32% in 2021 to -8.69% in 2022.
Return on Net Worth Ratio: This ratio measures the company 's et profit as a percentage of its net worth. A negative return on net worth ratio indicates a loss on shareholders ' investment. Go Digit 's return on net worth ratio has worsened from -10.60% in 2021 to -15.85% in 2022, indicating a decline in shareholder value.
|
Particulars |
2023 |
2022 |
2021 |
2020 |
|
Dividend (final + interim) (In Rs.) |
Nil |
Nil |
Nil |
Nil |
The Operating Loss of the company decreased by 117% from Rs. (37,51,524) thousand in FY 2022 to Rs. (6,62,750) thousand in FY 2023.
