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×

shriram general insurance co Limited

630.00
+ 0.00 %
Scrip Name
Shriram GIC
ISIN No.
INE477J01013
PAN No.
AAKCS2509K
Face Value
10
No. of Outstanding Shares
259,162,750
Market Capitalization
16,327.25 Crore
Book value
91.418
P/BV
6.891
EPS
25.678
PE ratio
24.535
Available on
nsdlcdsl
ROFR Required
No

SHRIRAM GENERAL INSURANCE COMPANY LIMITED UNLISTED SHARES 

COMPANY OVERVIEW  

Shriram General Insurance Company Limited was incorporated on July 28, 2006 as a company under the Companies Act 1956 and is registered in India.

Shriram General Insurance is a Joint Venture of Shriram Group (India) and Sanlam of South Africa wherein Shriram Capital Limited is holding around 67% stake and Sanlam is holding around 23% stake.

The purpose of the company is to provide business and personal insurance solutions to individual consumers.

Shriram General Insurance focuses its company model on serving as many common people as it can. The company is reassuring the service parameters by ensuring that each employee understands the slogan "BE INSURED…REST ASSURED" in its spirit to give the best possible outcome.

SHRIRAM GENERAL INSURANCE COMPANY LTD INCORPORATION DETAILS

CIN

U66010RJ2006PLC029979

Registration Date

July 28, 2006

Category/Sub-category of the Company

Limited by Shares/ Non-govt company

Address of the Registered office and contact details

Shriram General Insurance Company Limited,

E-8, EPIP, RIICO Industrial Area,

Sitapura – 302022 (Rajasthan)

Phone: 0141 4828400, 4951111

Name, Address and Contact Details of

Registrar and Transfer Agent, if any

Integrated Enterprises (India) Limited,

Kences Towers, 2nd Floor, No. 1 Ramkrishna Street, North Usman Road, T. Nagar,

Chennai – 600 017,

Phone: 044-28140801-28140803

SHRIRAM GENERAL INSURANCE COMPANY LTD PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

Name and Description of main products/services

NIC Code of the product/service

% to the total turnover of the Company

General Insurance

6512

100%

SHRIRAM GENERAL INSURANCE COMPANY LIMITED BOARD OF DIRECTORS

Mr. P.S. Gopalakrishnan, Chairman

Mr. Jasmit Singh Gujral

Mr. G. Anantharaman

Mr. Mathew Verghese

Mr. Stephanus Phillipus Mostert

Mr. Sanjeev Mehra

Mr. Vipen Kapur

Mr. Umesh Govind Revankar

Mr. Asher Grevler

Mr. Neeraj Prakash

Mr. Anil Kumar Aggarwal

Ms. Mona Mathur

Mr. Ian Maxwell Kirk

Mr. Rohan Suri

SHRIRAM GENERAL INSURANCE COMPANY LTD PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES

S. No.

 Name of the Company

Holding/ Subsidiary/ Associate

% of Shares held

1.

Shriram Capital Limited

Holding Company

76.63%

2.

SGI Philippines General Insurance Company Inc.

Subsidiary Company

91.60%

SHRIRAM GENERAL INSURANCE COMPANY LIMITED SHAREHOLDING PATTERN (As of 31-03-2022)

S. No.

Shareholders’ Name

Number of shares

% of total Shares of the company

1.

Promoter Group

25,79,99,950

99.55%

2.

Public Shareholding

11,62,800

0.45%

 

Total

25,91,62,750

100.00%

INDUSTRY OUTLOOK

In the years 2021–2022, the non-life insurance industry grew by more than 11%. The gross written premium of the industry for the year ended March 31, 2022, was around Rs. 2,20,772.07 crore as against Rs. 1,98,736.21 crore in the previous year. But the growth of GWP is not coming at the expense of industry profits. Stiff competition and high infrastructure costs are the major hurdles to generating underwriting profits. As of March 31, 2022 there are 32 General Insurance Companies operating in India. Out of the total of 32 General Insurers six are in the public sector, including ECGC and AIC (specialized insurance companies), and 26 are in the private sector, including 5 standalone health insurance companies.

FY 2022–23 will be the year of the withdrawal of accommodation and monetary tightening by global Central Banks. When the global economy seemed to be on the cusp of witnessing green shoots of recovery after leaving the worst of the COVID-19 pandemic behind (despite uncertainties associated with subsequent waves of infection and rising global inflationary pressures), the Russia-Ukraine crisis escalated. The RBI was forced to front-load the repo rate hike by 40 basis points and the CRR hike by 50 basis points due to a build-up of upside inflation risk caused by surges in global commodity prices and persistent supply-side disruptions. RBI Monetary Policy focus has shifted toward withdrawing accommodation as inflationary pressures have diminished significantly. It’s not just India; almost all emerging economies are reeling under these external shocks. We, however, believe that India’s underlying economic fundamentals are strong, and despite the short-term turbulence, the impact on the long-term outlook will be marginal. The results of growth-enhancing policies and schemes (such as production-linked incentives and the government’s push toward self-reliance) and increased infrastructure spending will start kicking in from 2023, leading to a stronger multiplier effect on jobs and income, higher productivity, and more efficiency—all leading to accelerated economic growth.

SHRIRAM GENERAL INSURANCE COMPANY LIMITED BALANCE SHEET (In Rs. Thousands)

PARTICULARS

31st March 2022

31st March 2021

31st March 2020

SOURCES OF FUNDS

     

Share Capital

2591628

2591628

2591628

Reserves and Surplus

21100520

 19111597

17484730

Fair Value Change Account- Shareholders

(142523)

(95299)

(325142)

Minority Interest

167655

263281

274038

TOTAL

23717279

21871207

20025254

APPLICATION OF FUNDS

 

 

 

Investments-Shareholders

14836345

16963997

11700953

Investments-Policyholders

93474871

88644027

83460286

Fixed Assets

484066

506481

546940

Deferred Tax Assets

367248

345671

324383

Current Assets

 

 

 

Cash and Bank Balances

427726

310592

1402237

Advances and Other Asset

5504294

5554528

4765794

Sub-Total (A)

5932020

5865120

6168031

Current Liabilities

81701680

79114483

69500252

Provisions

9675592

11339606

12675087

Sub-Total (B)

91377271

90454089

82175339

Net Current Assets (C) = (A - B)

(85445251)

(84588969)

(76007308)

TOTAL

23717279

21871207

20025254

SHRIRAM GENERAL INSURANCE COMPANY LIMITED PROFIT & LOSS STATEMENT (In Rs. Thousands)

PARTICULARS

2022

2021

2020

Operating Profit/(Loss)

7122714

6398100

9046754

Income from investments

 

 

 

(a) Interest, Dividend & Rent – Gross

1075098

1088645

1084777

(b) Profit on sale of investments

843626

451862

306614

(c) Amortisation of discount / (premium), Net

(26717)

(17210)

(23483)

TOTAL (A)

9012272

7921397

10414662

Other expenses

 

 

 

Expenses other than those related to Insurance Business

10158

7048

15283

Profit/Loss on Sale/Write off of Fixed Assets (Net)

918

13

(12)

TOTAL (B)

195909

178705

402211

Profit Before Tax (A-B)

8816363

7742692

10012451

Total Tax

2161462

1796859

2601770

Profit After Tax

6654901

5945833

7410681

EPS (Basic & Diluted)

25.67

22.93

28.60

SHRIRAM GENERAL INSURANCE UNLISTED SHARES DIVIDEND HISTORY

Particulars

2022

2021

2020

Dividend (final + interim) (In Rs.)

17.90

22.80

21.93

Retained Earnings (In Rs. Thousands)

-

-

-

SHRIRAM GENERAL INSURANCE COMPANY LTD RECENT PERFORMANCE OF THE COMPANY

The Operating Profit of the company increased by 11.32% from Rs. 63,98,100 thousands in FY 2021 to Rs. 71,22,714 thousands in FY 2022.

Profit after Tax of the company increased by 11.92% from Rs. 59,45,833 thousands in FY 2021 to Rs. 66,54,901 thousands in FY 2022.

The total dividend for the current FY 2022 is Rs. 17.90 per equity share, compared to Rs. 22.80 per equity share the previous FY 2021.

The Current Ratio of the company as of 31st March 2022 was 0.07.

The Solvency ratio of the company as of 31st March 2022 was 4.62 times.

The book value of the company as of 31st March 2022 was Rs.91.41.

 

Annual Reports

2021-22

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