| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| SBI General Insurance Company Ltd |
|
Particulars |
As at 31 March 2023 |
As at 31 March 2022 |
|
ASSETS |
|
|
|
Investments - Shareholders |
2,643.39 |
2,498.26 |
|
Investments - Policyholders |
10,451.62 |
8,420.83 |
|
Loans |
|
|
|
Fixed Assets |
256.85 |
225.90 |
|
Deferred tax asset |
21.67 |
16.18 |
|
Total |
13,373.52 |
11,161.16 |
|
Current Assets |
|
|
|
Cash and Bank Balances |
135.23 |
157.58 |
|
Advances and Other Assets |
1,771.16 |
1,402.17 |
|
Total |
1,906.39 |
1,559.74 |
|
Total Assets |
15,279.91 |
12,720.91 |
|
EQUITY AND LIABILITIES |
|
|
|
EQUITY |
|
|
|
Share Capital |
215.65 |
215.62 |
|
Reserves and Surplus |
2,844.15 |
2,658.27 |
|
Fair Value Change Account - Shareholders |
13.31 |
98.71 |
|
Fair Value Change Account - Policyholders |
|
0.09 |
|
Total Equity |
3,073.10 |
2,972.70 |
|
LIABILITIES |
|
|
|
Current liabilities |
|
|
|
Current Liabilities |
8,133.93 |
6,595.32 |
|
Provisions |
4,072.88 |
3,152.89 |
|
Total |
12,206.81 |
9,748.21 |
|
Total liabilities |
12,206.81 |
9,748.21 |
|
Total Equity and liabilities |
15,279.91 |
12,720.91 |
|
|
|
|
|
Contingent Liabilities |
208.32 |
165.49 |
|
PARTICULARS |
2023 |
2022 |
|
1. OPERATING PROFIT/(LOSS) |
|
|
|
(a) Fire Insurance |
304.78 |
306.01 |
|
(b) Marine Insurance |
-41.25 |
-27.30 |
|
(c) Miscellaneous Insurance |
-127.73 |
-353.47 |
|
2. INCOME FROM INVESTMENTS |
|
|
|
(a) Interest, Dividend & Rent – Gross |
129.51 |
122.75 |
|
(b) Profit on sale of investments |
118.98 |
171.77 |
|
Less: Loss on sale of investments |
-43.11 |
-23.47 |
|
3. OTHER INCOME |
|
|
|
- Miscellaneous Income |
4.11 |
0.22 |
|
- Profit & Loss on Sale of Assets |
0.08 |
0.73 |
|
- Recovery of Bad Debts Written Off |
9.18 |
11.36 |
|
Total (A) |
354.56 |
208.61 |
|
4. PROVISIONS (Other than taxation) |
|
|
|
(a) For diminution in the value of investments |
-3.75 |
5.84 |
|
(b) For doubtful debts |
23.63 |
0.00 |
|
5. OTHER EXPENSES |
|
|
|
(a) Expenses other than those related to Insurance Business |
0.00 |
0.00 |
|
(b) Bad debts written off |
0.00 |
0.00 |
|
(c) OthersPenalty |
0.00 |
0.30 |
|
CSR Expenditure |
9.59 |
16.30 |
|
Director 's Fees |
0.65 |
0.60 |
|
Others |
1.86 |
2.32 |
|
Contribution to Policyholders Funds towards Excess EoM |
78.25 |
5.27 |
|
Total (B) |
110.23 |
30.63 |
|
Profit/(Loss) Before Tax Provision for Taxation |
244.33 |
177.98 |
|
(a) Current Tax/ Minimum Alternate Tax |
66.06 |
42.98 |
|
(b) Deferred tax (Income)/ Expense |
-5.49 |
0.58 |
|
(c) Short/ (Excess) provision of earlier years |
-0.47 |
3.18 |
|
Profit/(Loss) after tax |
184.23 |
131.23 |
|
Appropriations |
|
|
|
(a) Interim dividends paid during the period |
0.00 |
0.00 |
|
(b) Proposed final dividend |
0.00 |
0.00 |
|
(c) Dividend distribution tax |
0.00 |
0.00 |
|
(d) Transfer to any Reserves or other Accounts Balance of profit/ (loss) brought forward |
-1319.26 |
-1188.03 |
|
Balance carried forward to Balance Sheet |
1503.49 |
1319.26 |
|
Basic Earnings per share (Not Annualised) |
8.54 |
6.09 |
|
Diluted Earnings per share (Not Annualised) |
8.46 |
6.03 |
|
Particulars |
31st March 2023 |
31 March 2022 |
|
Cash flows from operating activities |
|
|
|
Premium received from policyholder incl advance receipt |
12,022.19 |
10,326.09 |
|
Other receipts |
14.51 |
12.88 |
|
Payment to the re-insurers, net of commission and claims |
-2,521.28 |
-1,963.05 |
|
Payment to co-insurers, net of claims recovery |
311.99 |
304.44 |
|
Payment of claims |
-5,382.14 |
-5,782.67 |
|
Payment of commission and brokerage |
-936.84 |
-759.39 |
|
Payments of other operating expenses |
-1,591.24 |
-1,344.49 |
|
Preliminary and pre-operative expenses |
– |
– |
|
Deposits, advances and staff loans |
-11.14 |
-1.11 |
|
Income taxes paid (Net) |
-26.85 |
-95.79 |
|
Service tax / GST (Net) |
-367.53 |
-327.79 |
|
Director sitting fees |
-0.65 |
-0.60 |
|
Retirement benefits |
-12.91 |
-10.85 |
|
Cash flow before extraordinary items |
1,498.10 |
357.69 |
|
Cash flow from extraordinary items |
– |
– |
|
Net cash flow from operating activities |
1,498.10 |
357.69 |
|
Cash flows from investing activities |
|
|
|
Purchase of Fixed Assets |
-89.09 |
-89.46 |
|
Proceeds from Sale of Fixed assets |
0.31 |
0.92 |
|
Purchase of Investments |
-8,646.20 |
-11,719.90 |
|
Loans Disbursed |
– |
– |
|
Sale of Investments |
6,554.22 |
10,736.14 |
|
Repayments received |
– |
– |
|
Rent / Interest / Dividend received on Investment |
725.18 |
580.06 |
|
Investment in moneymarket and liquid fund instruments |
92.90 |
-498.98 |
|
Expenses related to Investments |
-1.11 |
-0.87 |
|
Investments in Fixed deposits (Net) |
2.97 |
– |
|
Net cash flow from investing activities |
-1,360.82 |
-992.08 |
|
Cash flows from financing activities |
|
|
|
Proceed from issuance of share capital (net of share issue expenses) |
1.68 |
6.52 |
|
Proceeds from borrowing |
– |
– |
|
Repayments from borrowings |
– |
– |
|
Interest / Dividend paid (including Dividend Distribution Tax) |
– |
– |
|
Net cash flow from financing activities |
1.68 |
6.52 |
|
Effect of foreign exchange rates on cash and cash equivalents, net |
– |
– |
|
Net increase in cash and cash equivalents |
138.96 |
-627.87 |
|
Cash and cash equivalent at beginning of the year |
481.00 |
1,108.87 |
|
Cash and cash equivalent at end of the year |
619.96 |
481.00 |
|
Book overdraft at the end of the year |
– |
– |
|
Net increase in cash and cash equivalents |
138.96 |
-627.87 |
|
Particulars |
2023 |
2022 |
|
Net Retention ratio (%) |
52.77% |
47.52% |
|
Net Commission ratio (%) |
1.07% |
-2.47% |
|
Expenses of Management to Gross Direct Premium ratio (%) |
21.35% |
21.58% |
|
Net incurred Claims to Net Earned Premium (%) |
78.73% |
86.31% |
|
Combined ratio (%) |
106.73% |
113.70% |
|
Operating profit ratio (%) |
2.78% |
-1.75% |
|
Net Earnings ratio (%) |
3.21% |
2.98% |
|
Return on Net worth (%) |
6.02% |
4.57% |
|
Solvency Margin (Times) |
1.72 |
1.85 |
|
Particulars |
2023 |
2022 |
|
Dividend per share |
- |
- |
|
Retained Earnings (In Rs. Crores) |
2,844.15 |
2,658.27 |
Operating Profit Stability: In 2023, the company maintained stable operating profits, with only a slight dip from 2022. This resilience, despite fluctuations in specific insurance segments, reflects the firm 's consistent ability to generate income from its core insurance operations.
Improved Investment Income: The company saw a boost in income from investments between 2022 and 2023, indicating a well-performing investment portfolio. This growth encompasses higher returns from interest, dividends, and profits from investment sales.
Provisions Reduction: Notably, provisions for diminishing investment values decreased in 2023, signaling improved asset management and potentially reduced investment risks. Furthermore, a drop in the provision for doubtful debts suggests enhanced debt recovery or more discerning lending practices.
Total Profit Increase: The company witnessed a substantial increase in profit before tax and tax provisions in 2023, showcasing improved overall financial performance and a stronger bottom line. Effective tax management is reflected in the higher profit after tax.
Positive Earnings per Share (EPS) Growth: Both basic and diluted EPS showed growth in 2023 compared to 2022, indicating the company 's ability to generate more earnings per share for its shareholders. This uptrend in EPS is a promising sign for investors, suggesting potential growth in shareholder value.
