| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Reliance General Insurance Company Limited |
|
Particulars |
As at 31st March,2023 |
As at 31st March,2022 |
As at 31st March,2021 |
|
Sources of funds |
|
|
|
|
Share Capital |
25,20,679 |
25,18,054 |
25,15,499 |
|
Reserves and Surplus |
2,32,27,659 |
2,04,80,178 |
1,80,27,420 |
|
Fair Value Change Account- Shareholder |
-69,467 |
1,04,146 |
7,490 |
|
Fair Value Change Account- Policyholder |
-3,20,535 |
4,25,355 |
36,335 |
|
Borrowings |
23,00,000 |
23,00,000 |
23,00,000 |
|
Total |
2,76,58,336 |
2,58,27,733 |
2,28,86,744 |
|
Application of funds |
|
|
|
|
Investments- Shareholder |
3,01,64,985 |
2,85,83,621 |
2,22,73,614 |
|
Investments- Policyholder |
13,91,87,829 |
11,64,79,985 |
10,80,59,889 |
|
Loans |
- |
- |
- |
|
Fixed Assets |
10,07,651 |
9,33,657 |
4,85,787 |
|
Deferred Tax Assets |
3,72,735 |
3,72,735 |
3,72,735 |
|
Current Assets |
|
|
|
|
Cash and Bank Balances |
23,80,030 |
15,51,699 |
19,95,451 |
|
Advances and Other Assets |
3,05,96,776 |
2,50,13,557 |
2,16,69,135 |
|
Sub-Total (A) |
3,29,76,806 |
2,65,65,256 |
2,36,64,586 |
|
Current Liabilities |
15,02,73,450 |
12,41,39,279 |
11,24,87,973 |
|
Provisions |
2,57,78,220 |
2,29,68,242 |
1,94,81,894 |
|
Sub-Total (B) |
17,60,51,670 |
14,71,07,521 |
13,19,69,867 |
|
Net Current Assets (C) = (A) - (B) |
-14,30,74,864 |
-12,05,42,265 |
-10,83,05,281 |
|
Miscellaneous Expenditure (to the extent not written off or adjusted) |
- |
- |
- |
|
Debit Balance in Profit & Loss Account |
- |
- |
- |
|
Total |
2,76,58,336 |
2,58,27,733 |
2,28,86,744 |
|
Particulars |
2023 |
2022 |
2021 |
|
Operating Profit / (Loss) |
|
|
|
|
Fire Insurance |
22,38,056 |
19,25,570 |
4,25,236 |
|
Marine Insurance |
-76,486 |
-10,490 |
-44,166 |
|
Miscellaneous Insurance |
50,96,345 |
50,00,102 |
45,75,423 |
|
|
72,57,915 |
69,15,182 |
49,56,493 |
|
Income from Investments |
|
|
|
|
Interest, Dividend & Rent – Gross |
18,66,761 |
18,38,493 |
14,45,968 |
|
Profit on sale/redemption of investments |
1,80,741 |
2,93,864 |
4,21,997 |
|
Less: Loss on sale/redemption of investment |
-26,219 |
-19,401 |
-46,324 |
|
|
20,21,283 |
21,12,956 |
18,21,641 |
|
Other Income |
|
|
|
|
Profit/(Loss) on sale/discard of assets |
2,058 |
1,868 |
-3,415 |
|
Miscellaneous Income |
59,205 |
59,445 |
12,482 |
|
Reversal of Equity impairment |
1,05,805 |
- |
3,01,672 |
|
Excess Provision/bad debts Written Back |
2,22,928 |
2,25,327 |
1,85,472 |
|
|
3,89,996 |
2,86,640 |
4,96,211 |
|
TOTAL (A) |
96,69,194 |
93,14,778 |
72,74,345 |
|
Provisions (Other than Taxation) |
|
|
|
|
For diminution in the value of investment |
1,01,400 |
- |
2,59,883 |
|
For doubtful debts |
19,115 |
5,861 |
2,28,823 |
|
|
1,20,515 |
5,861 |
4,88,706 |
|
Other Expenses |
|
|
|
|
Expenses other than those related to Insurance Business: |
|
|
|
|
Employee 's remuneration and welfare benefits |
32,326 |
29,727 |
29,866 |
|
Managerial remuneration |
1,23,900 |
99,900 |
63,200 |
|
Amortization of Debenture Expenses |
2,915 |
2,915 |
2,915 |
|
Interest on Statutory Liability |
53 |
10,749 |
13,996 |
|
Contribution to policyholders Funds towards Excess EOM |
4,914,654 |
34,69,167 |
25,85,848 |
|
Impairment on Equity Investments |
- |
1,07,614 |
- |
|
50,73,847 |
37,20,072 |
26,95,825 |
|
|
Finance Cost |
416 |
3,977 |
3,546 |
|
Interest on Non-Convertible Debenture |
2,09,300 |
2,09,300 |
2,09,082 |
|
Bad debt w/off (Net of Provisions) |
46,416 |
15,11,383 |
5,97,322 |
|
Corporate Social Responsibility Expense |
66,900 |
55,827 |
53,368 |
|
Penalty |
- |
26 |
1,057 |
|
Exchange Gain / (loss) |
- |
- |
- |
|
TOTAL (B) |
55,17,395 |
55,06,446 |
40,48,906 |
|
Profit / (Loss) Before Tax (A)-(B) |
41,51,799 |
38,08,332 |
32,25,439 |
|
Provision for Taxation |
|
|
|
|
Current Tax |
8,36,993 |
4,72,654 |
4,46,825 |
|
Short Provision for earlier year |
1,90,617 |
5,18,249 |
1,49,810 |
|
Deferred Tax |
- |
- |
- |
|
MAT Credit |
4,17,316 |
3,94,597 |
5,47,620 |
|
Net Profit / (Loss) After Tax |
27,06,873 |
24,22,832 |
20,81,184 |
|
Appropriations: |
|
|
|
|
Interim dividends paid during the period |
- |
- |
- |
|
Final dividend |
2,520 |
10,062 |
- |
|
Dividend Distribution Tax |
- |
- |
- |
|
Debenture Redemption Reserve |
- |
- |
- |
|
|
2,520 |
10,062 |
- |
|
Profit / (Loss) After appropriations |
27,04,353 |
24,12,770 |
20,81,184 |
|
Balance of Profit / (Loss) brought forward from last year |
1,25,65,501 |
1,01,52,731 |
80,71,547 |
|
Balance carried forward to Balance Sheet |
1,52,69,854 |
1,25,65,501 |
1,01,52,731 |
|
Basic Earning Per Share |
11 |
10 |
8 |
|
Diluted Earning Per Share |
11 |
10 |
8 |
|
Particulars |
2023 |
2022 |
2021 |
|
Cash flows from operating activities : |
|
|
|
|
Direct Premiums received |
9,91,29,402 |
9,23,61,896 |
7,93,01,348 |
|
Payment to re-insurers, net of commissions and claims |
-62,14,640 |
-1,57,47,549 |
-1,22,55,819 |
|
Payment to co-insurers, net of claims recovery |
-5,26,324 |
-13,64,710 |
-3,12,291 |
|
Direct Claims Paid |
-4,73,36,961 |
-4,69,99,445 |
-4,02,80,683 |
|
Direct Commission / Brokerage Payments |
-57,53,595 |
-51,95,616 |
-42,21,594 |
|
Payment of other operating expenses |
-2,07,80,077 |
-1,91,36,654 |
-1,41,92,580 |
|
Preliminary and pre-operating expenses |
- |
- |
- |
|
Deposits, Advances, and Staff loans |
1,38,751 |
-17,65,618 |
5,16,205 |
|
GST/Service Tax (Net) |
4,65,770 |
-2,92,962 |
10,65,884 |
|
Income tax paid (Net) |
-10,14,314 |
-7,42,364 |
-7,40,556 |
|
Misc. Receipts/payments |
38,863 |
38,188 |
37,509 |
|
Cash flow before extraordinary items |
1,81,46,875 |
11,55,166 |
89,17,423 |
|
Cash flow from extraordinary operations |
- |
- |
- |
|
Cash flow from operating activities |
1,81,46,877 |
11,55,166 |
89,17,423 |
|
Cash flows from investing activities : |
|
|
|
|
Purchase of investments |
-10,12,81,678 |
-11,57,84,767 |
-14,83,78,697 |
|
Sale of Investments (Including gain/ Loss) |
6,89,25,500 |
10,51,22,423 |
13,15,27,000 |
|
Purchase of fixed Assets |
-4,13,745 |
-7,79,029 |
-3,35,887 |
|
Proceeds from sale of fixed assets |
2,931 |
1,00,621 |
96,558 |
|
Rent/ Interest/ Dividends received |
1,00,16,426 |
94,66,870 |
86,10,855 |
|
Investment in money market instruments and in liquid mutual funds (Net) |
76,84,184 |
-15,42,646 |
-23,16,110 |
|
Repayment received on Loan Given |
- |
- |
- |
|
Expenses related to investments |
-32,326 |
-29,730 |
-29,863 |
|
Cash flow from investing activities |
-1,50,98,708 |
-34,46,258 |
-1,08,26,144 |
|
Cash flows from financing activities : |
|
|
|
|
Proceeds from Issuance of Share Capital |
45,754 |
42,542 |
- |
|
Share Application Money Received |
- |
- |
- |
|
Proceeds from borrowings (Net) |
- |
- |
- |
|
Repayment of borrowings |
- |
- |
- |
|
Borrowings issue expenses |
- |
- |
- |
|
Interest/ Dividend Paid |
-2,12,236 |
-2,22,766 |
-2,13,419 |
|
Cash flow from financing activities |
-1,66,480 |
-1,80,224 |
-2,13,419 |
|
Net increase in cash & cash equivalents |
28,81,690 |
-24,71,316 |
-21,22,140 |
|
Cash and cash equivalents at the beginning of the period |
-45,78,069 |
-21,06,753 |
15,387 |
|
Cash and cash equivalents at the end of the period including Bank Overdraft |
-16,96,379 |
-45,78,069 |
-21,06,753 |
|
Cash and cash Equivalents at the end of the period: |
|
|
|
|
Cash & Bank balance as per schedule |
23,80,030 |
15,51,699 |
19,95,451 |
|
Less: Temporary book over draft as per schedule 13 |
40,76,409 |
61,29,768 |
41,02,204 |
|
Cash and Cash Equivalents at the end including Bank Overdraft |
-16,96,379 |
-45,78,069 |
-21,06,753 |
Cash Flows from Operating Activities:
In 2023, the company exhibited robust performance in its operating activities. Direct premiums received increased significantly, reflecting a healthy growth in premium income. The reduction in payment to re-insurers further boosted net cash flows, and despite an increase in direct claims paid and commission/brokerage payments, the overall cash flow before extraordinary items witnessed a substantial uptick. Operating efficiency was evident as the company managed to control expenses, as seen in the decline in payment to co-insurers and the moderate increase in other operating expenses. Despite fluctuations in GST/Service Tax and income tax payments, the net cash inflow from these activities remained positive, contributing to the strong cash flow from operating activities.
Cash Flows from Investing Activities:
The company 's investing activities in 2023 displayed a more conservative approach. While there was a decrease in the purchase of investments, the positive cash flow from the sale of investments, along with increased income from rent/interest/dividends received, contributed positively. The company made judicious decisions in fixed asset investments, with a reduction in purchases. The fluctuation in investment in money market instruments and liquid mutual funds, coupled with prudent expense management related to investments, added to the overall positive cash flow from investing activities.
Cash Flows from Financing Activities:
On the financing front, the company experienced a slight increase in proceeds from the issuance of share capital, indicating investor confidence. Notably, there was a decrease in interest/dividend paid, contributing to the positive cash flow from financing activities. While borrowings and repayments remained inactive, the company 's overall financing activities showcased stability and effective management of capital.
Net Increase in Cash & Cash Equivalents:
The positive net increase in cash and cash equivalents in 2023 is a testament to the company 's overall financial health. This improvement is attributed to the positive outcomes in operating and financing activities, reflecting prudent financial management.
Cash and Cash Equivalents at the End:
The positive cash and bank balance at the end of 2023, coupled with a reduction in temporary book overdraft, highlight the company 's strengthened liquidity position. The positive trend in cash and cash equivalents indicates the company 's ability to meet its short-term obligations and capitalize on potential investment opportunities. Overall, the detailed analysis of cash flows activity-wise suggests that the company successfully navigated its financial activities in 2023, demonstrating sound financial management and strategic decision-making.
|
Particulars |
2023 |
2022 |
2021 |
|
Dividend (final + interim) (In Rs.) |
0.01 |
0.04 |
- |
