Sanima Reliance Life Insurance Records 96.48% Surge in Net Profit in Q2; Life Insurance Fund at Rs. 12.69 Arba
Sun, Feb 11, 2024 9:14 AM on Financial Analysis, Company Analysis, Latest,
Sanima Reliance Life Insurance Limited (SRLI) has reported a significant 96.48% increase in its net profit, reaching Rs. 21.97 crore in the current quarter compared to Rs. 11.18 crore in the corresponding quarter last year.
SRLI has a paid-up capital of Rs. 4.18 Arba with Rs. 92.15 Crores in retained earnings, Rs. 2.42 Crores in other equity, and Rs. 11.83 Crores in catastrophe reserves. The company maintains a life insurance fund of Rs. 12.69 Arba and has Rs. 15.65 Arba as an investment.
In Q2 FY 2080/81, SRLI witnessed a 137.05% increase in net premiums, totaling Rs. 2.62 Arba compared to the previous year. The company showcased its financial acumen by generating a commendable Rs. 74.45 Crores from income derived from investments, loans, and other financial activities.
However, it's important to note that the quarter also experienced a 168.15% increase in net claims, amounting to Rs. 2.54 Arba.
Key financial indicators highlight SRLI's strong performance, with an annualized earnings per share (EPS) of Rs. 10.50, net worth per share of Rs. 125.44, and a P/E ratio of 44.47 times.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Sanima Reliance Life Insurance | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 4,184,000.00 | 4,184,000.00* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Catastrophe Reserves | 118,399.29 | 86,426.20* | 36.99% |
| Retained Earnings | 921,532.66 | 726,542.56* | 26.84% |
| Other Equity | 24,271.42 | 31,618.56* | -23.24% |
| Investments | 15,657,462.82 | 14,170,581.85* | 10.49% |
| Life Insurance Fund | 12,696,755.80 | 10,917,624.85* | 16.30% |
| Net Premium | 2,620,613.32 | 1,105,497.12 | 137.05% |
| Income from Investment, Loan and others | 744,556.40 | 279,279.32 | 166.60% |
| Claim Payment (Net) | 2,540,589.07 | 947,450.08 | 168.15% |
| Commission Expenses | 287,900.60 | 146,108.37 | 97.05% |
| Employees Benefit Expenses | 203,786.70 | 95,278.17 | 113.89% |
| Other Operating Expenses | 70,595.93 | 45,278.52 | 55.91% |
| Net Profit | 219,730.93 | 111,835.22 | 96.48% |
| Total Inforce Policy Count | 867,659.00 | 1,063,399.00 | -18.41% |
| EPS (In Rs.) | 10.50 | 5.35 | 96.48% |
| Net Worth per Share (In Rs.) | 125.44 | 120.19 | 4.37% |
| PE Ratio | 44.47 | - | - |
| Solvency Ratio | 2.56 | - | - |
