| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| PNB Metlife India Insurance Company Limited |
PNB MetLife India Insurance Company Limited Balance Sheet (In Rs. Crores)
| PARTICULAR | March 31, 2023 | March 31, 2022 | March 31 , 2021 |
| SOURCES OF FUNDS: | |||
| Share capital | 2,01,288 | 2,01,288 | 2,01,288 |
| Reserves and surplus | 423 | 432 | 440 |
| Credit/(Debit) Fair value change account | - | 876 | 514 |
| Total shareholders ' funds | 2,01,712 | 2,02,596 | 2,02,242 |
| Borrowings | 40,000 | 40,000 | - |
| POLICYHOLDERS’ FUNDS | |||
| Credit/(Debit) Fair value change account | 22,248 | 28,819 | 18,827 |
| Policy liabilities | 28,74,786 | 23,53,529 | 19,38,365 |
| Insurance reserves | - | - | - |
| Provision for linked liabilities - Non unit | 6,782 | 8,171 | 6,173 |
| Provision for linked liabilities - Unit | 7,20,593 | 7,15,374 | 6,33,470 |
| Total policyholders ' funds | 36,24,410 | 31,05,893 | 25,96,836 |
| Funds for discontinued policies | |||
| Discontinued on account of non- payment of premium | 1,18,794 | 92,736 | 62,776 |
| Funds for future appropriations | 83,392 | 84,109 | 64,245 |
| TOTAL | 40,68,307 | 35,25,335 | 29,26,099 |
| APPLICATION OF FUNDS: | |||
| Investments | |||
| Shareholders | 1,82,017 | 1,71,936 | 1,36,408 |
| Policyholders’ | 29,56,295 | 24,57,843 | 19,92,406 |
| Assets held to cover linked liabilities | 8,39,387 | 8,08,111 | 6,96,246 |
| Loans | 23,146 | 16,288 | 9,209 |
| Fixed assets | |||
| Current assets | |||
| Cash and bank balances | 16,882 | 16,332 | 26,670 |
| Advances and other assets | 1,26,080 | 1,23,524 | 1,01,155 |
| Total Current assets | 1,42,962 | 1,39,856 | 1,27,824 |
| Less: | |||
| Current liabilities | 1,33,431 | 1,38,248 | 1,00,575 |
| Provisions | 9,884 | 9,474 | 7,672 |
| Total Current Liabilities and Provisions (B) | 1,43,316 | 1,47,722 | 1,08,247 |
| Net current assets | -353 | -7,866 | 19,577 |
| Miscellaneous expenditure (to the extent not written off or adjusted) | - | - | - |
| Debit balance in profit and loss account (Shareholders ' Account) | 55,952 | 67,170 | 60,067 |
| TOTAL | 40,68,307 | 35,25,335 | 29,26,099 |
|
Particulars Schedule |
March 31, 2023 |
March 31, 2022 |
March 31, 2021 |
|
Amount transferred from the Policyholders’ Account |
10,700 |
5,323 |
6,673 |
|
Income from investments |
|
|
|
|
Interest, dividends and rent - gross |
12,719 |
10,213 |
10,146 |
|
Profit on sale/redemption of investments |
653 |
1,823 |
2,321 |
|
Loss on sale/redemption of investments |
- |
- |
-92 |
|
Amortisation of (premium)/discount on investments |
154 |
116 |
-253 |
|
Total Income from investments |
13,527 |
12,153 |
12,123 |
|
Total Income |
24,227 |
17,476 |
18,796 |
|
Expenses other than those directly related to the insurance business |
1,315 |
1,031 |
956 |
|
Contribution to Policyholders Account towards excess of EOM |
869 |
250 |
299 |
|
Contribution towards Remuneration of Managing Director |
729 |
450 |
344 |
|
Interest on non-convertible debentures |
3,248 |
561 |
- |
|
Bad debts written off |
- |
- |
- |
|
Provisions (other than taxation) |
- |
- |
- |
|
For diminution in the value of investments |
- |
- |
- |
|
Provision for doubtful debts |
- |
- |
- |
|
Contribution to the Policyholders ' Account |
5,758 |
22,288 |
5,880 |
|
Total Expenses |
11,919 |
24,580 |
7,479 |
|
Profit / (Loss) before tax |
12,308 |
-7,104 |
11,317 |
|
Provision for taxation |
1,089 |
- |
1,207 |
|
Profit / (Loss) after tax |
11,219 |
-7,104 |
10,110 |
|
Appropriations |
|
||
|
Balance at beginning of the year |
-67,170 |
-60,067 |
-70,176 |
|
Interim dividends paid during the year |
- |
- |
- |
|
Proposed final dividend |
- |
- |
- |
|
Dividend distribution tax |
- |
- |
- |
|
Profit / (Loss) carried forward to balance sheet |
-55,952 |
-67,170 |
-60,067 |
|
Earnings / (Loss) Per Share (Basic) |
1 |
-0.35 |
0.5 |
|
Earnings / (Loss) Per Share (Diluted) |
1 |
-0.35 |
0.5 |
|
PARTICULAR |
March 31, 2023 |
March 31, 2022 |
March 31, 2021 |
|
Cash Flows from the Operating Activities: |
|
|
|
|
Premium received from policyholders, including advance receipts |
9,08,194 |
7,56,798 |
6,25,950 |
|
Other receipts |
2,367 |
1,509 |
962 |
|
Payments to other entities carrying on insurance business (including reinsurers), net of commissions and benefits |
-10,113 |
32,949 |
-2,610 |
|
Payments of claims/benefits |
-3,26,755 |
-3,73,473 |
-2,78,700 |
|
Payments of commission and brokerage |
-49,445 |
-39,906 |
-32,665 |
|
Payments of other operating expenses |
-1,58,570 |
-1,21,879 |
-1,08,192 |
|
Deposits, advances and staff loans |
-3,347 |
-1,956 |
-168 |
|
Income taxes paid (Net) |
-2,297 |
-2,391 |
-4,890 |
|
Goods and Services Tax paid |
-23,122 |
-17,308 |
-14,496 |
|
Cash flows before extraordinary items |
3,36,913 |
2,34,343 |
1,85,190 |
|
Cash flow from extraordinary operations |
- |
- |
- |
|
(A)Net cash flow from operating activities |
3,36,913 |
2,34,343 |
1,85,190 |
|
Cash flows from Investing Activities: |
|||
|
Purchase of fixed assets |
-4,857 |
-4,554 |
-4,866 |
|
Proceeds from sale of fixed assets |
24 |
14 |
-14 |
|
Purchase of Investments |
-16,84,745 |
-11,35,896 |
-8,63,645 |
|
Loans against policies |
-7,093 |
-7,241 |
-3,406 |
|
Sales/ Maturity of investments |
11,64,986 |
7,66,978 |
4,83,467 |
|
Rents/Interests/ Dividends received |
2,23,665 |
1,83,575 |
1,54,605 |
|
Investments in money market instruments and in liquid mutual funds (Net) Expenses related to investments |
-17,901 |
-92,378 |
36,000 |
|
(B)Net cash flow from investing activities |
-3,25,922 |
-2,89,502 |
-1,97,860 |
|
Cash flows from Financing Activities: |
|||
|
Proceeds from issuance of share capital |
- |
- |
- |
|
Proceeds from borrowing |
- |
40,000 |
- |
|
Repayments of borrowing |
- |
- |
- |
|
Interest paid on borrowing |
-3248 |
- |
- |
|
(C)Net cash flow from financing activities |
-3,248 |
40,000 |
- |
|
Effect of foreign exchange rates on cash and cash equivalents, net |
- |
- |
- |
|
Net increase/(decrease) in cash and cash equivalents |
7,743 |
-15,159 |
-12,670 |
|
Cash and cash equivalents at the beginning of the year |
5,112 |
20,271 |
32,941 |
|
Cash and cash equivalents at the end of the year |
12,855 |
5,112 |
20,271 |
|
Components of Cash and cash equivalents at the end of the year |
|||
|
Cash (including cheques in hand and stamps in hand) |
5,143 |
4,602 |
7,795 |
|
Bank Deposits (including Short-term FDs) |
5,606 |
3,000 |
5,400 |
|
Bank Balances |
8,277 |
8,700 |
13,426 |
|
Book overdraft |
-6,171 |
-11,190 |
-6,349 |
|
|
12,855 |
5,112 |
20,271 |
|
Reconciliation of Cash & Cash Equivalents with Cash & Bank Balance |
|||
|
Cash and cash equivalents at the end of the year |
12,855 |
5,112 |
20,271 |
|
Add: Deposits (other than Short-term FDs) |
29 |
44 |
49 |
|
Add: Book overdraft |
6,171 |
11,190 |
6,349 |
|
less: linked business bank balance |
-2,173 |
-14 |
- |
|
Cash & Bank Balances |
16,882 |
16,332 |
26,670 |
Operating Activities:
For the year ending March 31, 2023, PNB MetLife reported a positive net cash flow of INR 3369.12 crores from operating activities, driven by premiums received and other income. The company effectively managed outflows related to payments to other entities, claims, and operating expenses. In 2022, a positive net cash flow of INR 2343.43 crores was achieved, reflecting prudent cash flow management amidst significant outflows in claims and commissions. In 2021, the company reported a positive net cash flow of INR 1851.90 crores, showcasing consistent strength in core insurance operations.
Investing Activities:
In 2023, there was a net cash outflow of INR -32592.22 crores, primarily due to investments in fixed assets and the purchase of investments. In 2022, the net outflow was INR -28950.02 crores, reflecting strategic investment decisions. In 2021, a net outflow of INR -19785.60 crores was reported, indicating a balanced approach to investment activities.
Financing Activities:
In 2023, net cash flow from financing activities was INR -0.32 crores, driven by borrowing and interest payments. In 2022, borrowing activities led to a net inflow of INR 4 crores. There were no significant financing activities in 2021.
Overall:
In 2023, there was a net increase in cash and cash equivalents of INR 77.43 crores, with closing balances at INR 1285.49 crores. In 2022, a net decrease of -1515.59 crores was reported, with closing balances at INR 511.19 crores. In 2021, a net decrease of -1266.70 crores was recorded, with closing balances at INR 2027.71 crores. These trends indicate the company 's resilience and adaptability in managing its financial position over the three-year period.
|
Particulars |
2023 |
2022 |
2020 |
|
Dividend (final + interim) (In Rs.) |
Nil |
Nil |
Nil |
|
Retained Earnings ( In Rs. Thousands) |
- |
- |
- |
|
Loss after tax stood Rs. 11,218.96 Cr. in FY 2023 against a Loss after tax of Rs.7,103.64 Cr. in FY 2022, showing a rise of 57.9326% in loss. |
|
The Book Value Per Share of the company as of 31st March 2023 was Rs.7.22.. |
|
The Solvency Ratio of the company has decreased to 1.86 in FY 2022-2023 from 2.09 in FY 2021-2022 |
|
The Net retention Ratio of the company is 95% |
|
The company has not given any dividend from past three years. |
