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×

hdfc ergo general insurance company Limited

363.80
+ 0.00 %
Scrip Name
HDFC Ergo
ISIN No.
INE392I01016
PAN No.
AABCL5045N
Face Value
10
No. of Outstanding Shares
711,564,933
Market Capitalization
25,886.73 Crore

HDFC ERGO GENERAL INSURANCE COMPANY LIMITED UNLISTED SHARE 


Established on 27 December 2007 HDFC Ergo General Insurance Company Limited is registered at the Registrar of Companies, Mumbai. The authorized share capital of the company is Rs. 20,000,000,000 and its paid-up capital is Rs. 7,127,800,300.


Promoted by HDFC Ltd., ERGO International AG, and Munich Health Holding AG, HDFC ERGO one of the largest Private General Insurance companies, offers general insurance products like Motor, Health, Travel, Home, and Personal Accident for retail and customized products like Property, Marine and Liability Insurance for corporates through its large network.


INCORPORATION DETAILS


CIN

U66030MH2007PLC177117

Registration Date

December 27, 2007

Company Name

HDFC ERGO GENERAL INSURANCE COMPANY LIMITED

Email Address

care@hdfcergo.com |

Category/Sub-category of the Company

General Insurance

Registration Number

177117

Address of the Registered office & contact details

HDFC House, 1st Floor, 165-166, Backbay Reclamation, H. T. Parekh Marg, Churchgate, Mumbai - 400 020.

Tel. No. : +91 22 6638 3600

Fax No.: +91 22-66383699

E-mail: care@hdfcergo.com

Website: www.hdfcergo.com

Company Secretary & Compliance Officer

    Mr. Dayananda V. Shetty

Name, Address & contact details of the Registrar & Transfer Agent, if any

Karvy Computershare Private Limited,

Corporate Registry, Karvy Selenium,

Tower B, Plot No. 31-32, Gachibowli,

 Financial District, Nanakramguda, Serilingampally, Hyderabad - 500032

 E-mail: support@karvy.com

 Website: www.karvycomputershare.com

 Tel No.: +91 40–67161500

Fax No.: +91 40–23311968

 

PARTICULARS OF HOLDING, SUBSIDIARY & ASSOCIATE COMPANIES 

 

S.NO.

Name Of The Company

Category

%Of Shares Held

       1.

Housing development finance corporation limited

                      Holding

50.49%

 

BOARD OF DIRECTORS

 

S.NO.

Name of the Directors

Category

1.

Mr. Deepak S. Parekh

Chairman

2.

Mr. Keki M. Mistry

Non-Executive Director

3.

Ms. Renu Sud Karnad

Non-Executive Director

4.

Dr. Oliver Martin Willmes

Non-Executive Director

5.

Dr. Clemens Matthias Muth

Non-Executive Director

6.

Mr. Bernhard Steinruecke

Independent Director

7.

Mr. Mehernosh B. Kapadia

Independent Director

8.

Mr. Arvind Mahajan

Independent Director

9.

Mr. Ameet P. Hariani

Independent Director

10.

Mr. Samir H. Shah

Executive Director

11.

Mr. Anuj Tyagi

Executive Director

12.

Mr. Ritesh Kumar

Managing Director and Chief Executive officer


SHAREHOLDING PATTERN

(As of 31-03-2021)

S. No.

Shareholder’s Category

No. of Shares

% of total Shares of the company


PROMOTERS-



1.

Indian: Housing Development Finance Corporation Limited

359,741,874

50.56%

2.

Foreign: ERGO International AG

293,470,812

41.24%


Munich Health Holding AG

51,321,532

7.21%

 

OTHERS: EMPLOYEES

7,030,715

0.99%


TOTAL

711,564,933

100.00%

 

INDUSTRY OUTLOOK

The Company has been one of the fastest-growing general insurance companies with a 5-year CAGR of 29%  With regard to the industry growth rate of 16%. The Company’s retail health premium was ` 2,724 crore in FY 2020-21 with a market share of 10%. The Company has one of the largest networks of more than 10,000 impaneled hospitals located in about 600 districts of India.

During the year, the Company allotted 3,45,651 equity shares of `10 each pursuant to the exercise of stock options under Employees Stock Option Plan-2009 (ESOP-2009). Further, in terms of the Scheme of Amalgamation of HEHI with the Company, 10,53,77,232 equity shares of ` 10 each were allotted to the shareholders of HEHI on November 13, 2020.  The company issued more than 10 million policies and serviced more than 2 million claims in FY21.

The limit on Foreign Direct Investment (FDI) in insurance companies increased from 26% to 49% in 2015. In the Union Budget 2021-22, it was announced that this would be further increased to 74%.

HDFC General Insurance was conferred with ICAI Award for Excellence in Financial Reporting in FY 2014-15 as well as in 2015-16. The insurer has been assigned an ‘iAAA’ rating by ICRA, indicating its highest claim paying ability.

HDFC Ergo General Insurance won the 2016 Best Customer Experience Award of the Year in the financial sector by KamiKaze for its unparalleled customer service.

PROFIT & LOSS STATEMENT OF HDFC ERGO GENERAL INSURANCE COMPANY  LIMITED (In Rs.000)

(As of 31-03-2018 to 31-03-2021)

Particular

2021

2020

2019

2018

OPERATING PROFIT/(LOSS)

 

 



Fire Insurance

(254,704)

(508,217)

333,361

(134,501)

Marine Insurance

(207,186)

(190,496)

(230,527)

(98262)

Miscellaneous Insurance

7,770,647

4,667,652

4,836,224

4944181


7,308,757

3,968,939

4939058

4711418

INCOME FROM INVESTMENTS





Interest, Dividend and Rent-Gross

1,661,112

1,339,648

1,379,320

1370571

Profit/Loss on sale of investments

199,059

123,953

158,642

185296

Accretion/(Amortisation) of debt securities

-

-

(35618)

(26296)


1,860,171

1,463,601

1,537,962

1529571

Other income

-

-

175,000

-

TOTAL(A)

9,168,928

5,432,540

6,652,020

6240989

PROVISIONS (OTHER THAN TAXATION)

 

 



For diminution in the value of investments

311,725

116,600

1,578,181

-

For doubtful debts

(11,816)

(27,608)

7,038

(87241)


299,909

88,992

1,585,219

(87241)

OTHER EXPENSES





Expenses other than those related to the insurance business

 

 



Employees’ related remuneration and welfare benefits

93,124

91,467

83,351

62351

Corporate Social Responsibility Expenses

95,202

74,969

40,901

46226

Bad debts are written off

21,212

43,715

-

670428

Remuneration to directors and others

4,120

4,000

3,752

4000

Bad & Doubtful Investments written off

-

100,000

-

-

Amalgamation Expenses

328,426

161,443

-

142128

Interest on Debentures

409,243

278,305

266,000

266000

Penalty

-

-

500

4416

TOTAL (B)

1,251,236

842,891

1,979,723

1108308

PROFIT/(LOSS) BEFORE TAX

 

 



Provision for Taxation

7,917,692

4,589,649

4,672,297

5132681

Current Tax

2,011,440

1,094,782

1,396,384

1059298

Deferred Tax

(10,258)

(58,832)

(553,964)

36326

MAT Credit Written Off

-

284,281

-


PROFIT/(LOSS) AFTER TAX

5,916,510

3,269,418

3,829,877

4037057

EARNINGS PER SHARE





Basic

8.32

5.32

6.33

6.70

Diluted

8.29

5.30

6.31

6.68



BALANCE SHEET OF  HDFC ERGO GENERAL INSURANCE  COMPANY LIMITED (In Rs.000)

(As of 31-03-2018 to 31-03-2021)

PARTICULARS

2021

2020

2019

2018

SOURCES OF FUNDS

 

 



Share Capital

7,115,649

6,058,421

6054221

6050718

Share capital suspense

-

1,053,689

-

-

Reserves and surplus

25,155,927

21,319,914

1379664

11560400

Fair value change account - shareholders

46,834

(110,020)

(57263)

43185

Fair value change account - policyholders

217,132

(645,147)

(217528)

150889

Borrowings

5,040,000

5,040,000

3500000

3500000

Deferred tax liability

-

-

-

36326

TOTAL

37,575,542

32,716,857

23049094

21341518

APPLICATION OF FUNDS

 

 



Investments - shareholders

29,528,835

19,780,184

18971760

18154614

Investments - policyholders

136,900,703

115,988,644

72068296

63433015

Loans

-

-

-

-

Fixed assets

2,733,604

2,824,353

2135050

2095017

Deferred tax asset

736,533

726,276

517639


CURRENT ASSETS





Cash and Bank Balances

4,738,249

7,821,307

3883282

4370413

Advances and Other Assets

18,551,807

23,462,687

17713394

15492246

Sub-Total (A)

23,290,056

31,283,994

21596676

19862659

CURRENT LIABILITIES

112,312,673

95,494,980

63751506

59339619

Provisions

43,301,516

42,391,614

28488821

22864168

Sub-Total (B)

155,614,189

137,886,594

92240327

82203787

Net current assets/(liabilities) (c) = (a-b)

(132,324,133)

(106,602,600)

(70643651)

(62341128)

Miscellaneous expenditure

-

-

-

-

Debit balance in profit and loss account

-

-

-

-

TOTAL

37,575,542

32,716,857

23049094

21341518


DIVIDEND HISTORY

(As of 31-03-2018 to 31-03-2021)

Particulars

2021

2020

2019

2018


Dividend (Interim)

Rs.3 per share

 

NIL

Rs. 2.25 Per Share

Rs. 2 Per Share

 

 

PERFORMANCE OF THE COMPANY

 Income from Operations Increased from Rs. 543,25,40,000  in FY 2020 to Rs 916,89,28,000  in FY 2021, showing an increase of 68.78% as compared to previous financial year.

In FY 2021, Company’s Net profit stood at Rs 591,65,10,000 80.96% higher than the Net Profit of Rs.326,94,18,000 in FY 2020.

The Current Ratio of the company as of 31st March 2021 was 0.15%.


The book value of the company as of 31st March 2021 was 41.13.


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