Shriram GIC Annual Reports, Balance Sheet and Financials

Shriram General Insurance Company Limited Balance Sheet (Rs in Thousands)

Shriram General Insurance Company Limited Profit & Loss Statement (Rs in Thousands)

Shriram General Insurance Company Limited Consolidated Cash Flow Statement (Rs in Thousands)

Here is a summary of the Cash Flow Statement for the years 2024 and 2023:

Cash Flow from Operating Activities

Premium Received from Policyholders, Including Advance Receipts and Service Tax/GST:

In the year ending 31st March 2024, the company received ₹37,087,973 in premiums from policyholders, compared to ₹26,582,403 in the previous year. This significant increase indicates growth in the company 's insurance business.

Other Receipts:

Other receipts, which could include miscellaneous income and fees, increased to ₹65,294 in 2024 from ₹58,498 in 2023.

Payment to Reinsurers, Net of Commissions and Claims:

Payments to reinsurers, after adjusting for commissions and claims, rose to ₹1,008,258 in 2024 from ₹471,328 in 2023. This increase suggests higher reinsurance costs, possibly due to increased business volumes or higher risk coverage.

Payment of Claims:

Payments made for claims increased from ₹13,242,753 in 2023 to ₹15,191,396 in 2024. This rise indicates a higher incidence of claims or larger claim amounts.

Payment of Commission:

Commission payments saw a dramatic rise from ₹1,278,384 in 2023 to ₹6,431,706 in 2024. This substantial increase may reflect higher sales commissions due to increased policy sales.

Payment of Other Operation Expenses Net of Miscellaneous Income:

Other operational expenses decreased significantly from ₹6,125,818 in 2023 to ₹3,878,545 in 2024. This reduction suggests improved cost management or lower miscellaneous expenses.

Income Tax Paid (Net):

The net income tax paid increased from ₹814,999 in 2023 to ₹2,127,712 in 2024, reflecting higher taxable income.

Service Tax/GST Paid:

Service tax and GST payments increased from ₹4,000,131 in 2023 to ₹5,585,539 in 2024, likely due to higher business volumes.

Deposit, Advances, and Staff Loans:

Payments for deposits, advances, and staff loans increased slightly from ₹146,421 in 2023 to ₹156,897 in 2024.

Net Cash Inflow from Operating Activities:

The net cash inflow from operating activities increased significantly to ₹2,773,214 in 2024 from ₹561,067 in 2023. This improvement reflects overall higher revenues and better management of operational expenses.

Cash Flow from Investment Activities

Purchase of Fixed Assets:

Capital expenditure on fixed assets decreased from ₹111,323 in 2023 to ₹42,473 in 2024, indicating lower investment in physical assets.

Proceeds from Sale of Fixed Assets:

The proceeds from the sale of fixed assets decreased from ₹7,778 in 2023 to ₹157 in 2024.

Purchase of Investments:

Investment purchases increased substantially from ₹28,684,013 in 2023 to ₹37,242,528 in 2024, reflecting a significant increase in investment activities.

Sale/Maturity of Investments:

Proceeds from the sale or maturity of investments increased from ₹20,900,538 in 2023 to ₹31,168,721 in 2024, indicating a higher volume of investment turnovers.

Rent/Interests/Dividend Received:

Income from rent, interest, and dividends increased from ₹7,003,798 in 2023 to ₹7,591,451 in 2024, showing higher returns on investments.

Investment in Money Market Instruments and Liquid Mutual Funds (Net):

There was a net outflow of ₹645,504 in 2024, compared to a net inflow of ₹3,323,426 in 2023, indicating a shift in investment strategy or liquidity management.

Net Cash Outflow from Investment Activities:

The net cash flow from investment activities decreased to ₹829,824 in 2024 from ₹2,440,204 in 2023, reflecting higher net outflows due to increased investment activities.

Cash Flow from Financing Activities

Dividend Paid Including Distribution Tax Paid:

Dividend payments, including distribution tax, increased from ₹3,058,120 in 2023 to ₹3,304,325 in 2024, reflecting higher returns to shareholders.

Net Cash Flow from Financing Activities:

The net cash outflow from financing activities increased slightly to ₹3,304,325 in 2024 from ₹3,058,120 in 2023, indicating higher dividend payouts.

Effect of Foreign Exchange Rates on Cash and Cash Equivalents (Net)

The effect of foreign exchange rates on cash and cash equivalents resulted in a net outflow of ₹814 in 2024, compared to a net outflow of ₹16,623 in 2023. This smaller outflow suggests less volatility or exposure to foreign exchange rate fluctuations.

Net Increase/(Decrease) in Cash and Cash Equivalents

There was a net increase in cash and cash equivalents of ₹297,898 in 2024, compared to a decrease of ₹73,473 in 2023. This improvement reflects better overall cash management.

Cash and Cash Equivalents at the Beginning and End of the Year

The opening balance of cash and cash equivalents was ₹354,253 in 2024, compared to ₹427,726 in 2023.

The closing balance of cash and cash equivalents increased to ₹652,151 in 2024 from ₹354,253 in 2023, reflecting the overall positive cash flow for the year.

Dividend History

Shriram General Insurance Company Limited Recent Financial Performance

Dividend per Share: The specific dividend per share figure for 2024 and 2023 is Rs. 12.25 & 10.00, Dividend per share represents the portion of a company 's earnings that is distributed to shareholders in the form of dividends. A higher dividend per share may indicate that the company is sharing more of its profits with shareholders.