Go Digit Annual Reports, Balance Sheet and Financials

Go Digit General Insurance Limited Balance Sheet (In Rs. Thousands)

Go Digit General Insurance Limited Profit & Loss Statement (In Rs. Thousands)

Go Digit General Insurance Consolidated Cash Flow Statement for the last three years (In Rs. Thousands)

Summary of cash flow statement of last 4 years:

Operating Activities:

- The premium received from policyholders showed consistent growth, reaching Rs. 8,23,48,140 in 2023.

- Payments to/from re-insurers and co-insurers increased over the years, reflecting management of reinsurance and co-insurance arrangements.

- Payments of claims, commission, and other operating expenses also increased.

- Goods and services tax paid, including erstwhile service tax, increased annually.

Investing Activities:

- Purchase of fixed assets and investments occurred each year, with varying amounts.

- Sale/redemption of investments generated significant cash inflow.

- Rent, interests, dividends received increased annually.

Financing Activities:

- Proceeds from the issue of share capital fluctuated.

Overall, the company experienced growth in premium receipts and made significant payments for claims and operating expenses. Investments and fixed assets were acquired, and cash was generated through investment activities. The company also raised capital through the issue of share capital.

Go Digit’s financial ratios

The financial ratios of Go Digit indicate its financial performance and health for the years ending March 31, 2020, 2021, and 2022. Here is a summary of the ratios:

Current Ratio: This ratio measures the company 's ability to pay its short-term liabilities using its short-term assets. A higher current ratio is preferable. Go Digit 's current ratio has decreased from 0.17 in 2020 to 0.11 in 2022, indicating a decline in its liquidity position.

Net Commission Ratio: This ratio measures the percentage of premium income retained by the company after paying commissions to agents. Go Digit 's net commission ratio has increased from 2.57% in 2021 to 3.81% in 2022, indicating an improvement in its commission management.

Net Retention Ratio: This ratio measures the percentage of premiums retained by the company after deducting reinsurance costs. Go Digit 's net retention ratio has decreased from 81.16% in 2021 to 79.35% in 2022, indicating an increase in reinsurance costs.

Gross direct premium to the net-worth ratio: This ratio measures the amount of gross direct premium written by the company in proportion to its net worth. Go Digit 's gross direct premium to net-worth ratio has increased from 1.58 in 2020 to 2.50 in 2022, indicating growth in business volume.

Net Incurred Claims to Net Earned Premium: This ratio measures the percentage of claims incurred by the company for every unit of premium earned. Go Digit 's net incurred claims to net earned premium ratios have remained stable at around 74% for the past three years.

Combined Ratio: This ratio measures the overall underwriting profitability of the company. A combined ratio above 100% indicates an underwriting loss. Go Digit 's combined ratio has increased from 109.42% in 2021 to 112.66% in 2022, indicating a decline in underwriting profitability.

Liquid Assets to Liabilities Ratio: This ratio measures the company 's ability to pay its short-term liabilities using its liquid assets. Go Digit 's liquid assets to liabilities ratio has increased from 20.26% in 2020 to 39.88% in 2022, indicating an improvement in its liquidity position.

Available Solvency Margin (ASM) to Required Solvency Margin (RSM) Ratio: This ratio measures the company 's solvency position, with a higher ratio indicating better solvency. Go Digit 's ASM to RSM ratio has remained stable at around 2 for the past three years.

Operating Profit Ratio: This ratio measures the company 's operating profit as a percentage of its revenue. A negative operating profit ratio indicates an operating loss. Go Digit s operating profit ratio has worsened from -9.54% in 2021 to -11.02% in 2022.

Net Earnings Ratio: This ratio measures the company ' net earnings as a percentage of its revenue. A negative net earnings ratio indicates a net loss. Go Digit 'snet earnings ratio has worsened from -6.32% in 2021 to -8.69% in 2022.

Return on Net Worth Ratio: This ratio measures the company 's et profit as a percentage of its net worth. A negative return on net worth ratio indicates a loss on shareholders ' investment. Go Digit 's return on net worth ratio has worsened from -10.60% in 2021 to -15.85% in 2022, indicating a decline in shareholder value.

Go Digit Share Dividend History

Go Digit General Insurance Limited Recent Performance

• The Operating Loss of the company decreased by 117% from Rs. (37,51,524) thousand in FY 2022 to Rs. (6,62,750) thousand in FY 2023.

• Profit after tax of the company stood Rs. 3,55,472 lakhs in FY 2023 against a loss after tax of Rs. 29,58,598 lakhs in FY 2022.
• The company has not given any dividends for the past four years.
• The Current Ratio of the company as of 31st March 2023 was 0.11.
• The Net Earnings Ratio of the company as of 31st March 2023 was 0.69 %.
• The book value of the company as of 31st March 2023 was Rs. 37.27.