Shikhar Insurance Q4 Highlights: Gross Premium touches Rs 5 Arba; Net Profit Rises by 28.93% with EPS of Rs 17.56
Mon, Aug 15, 2022 10:05 AM on Financial Analysis, Latest,
Shikhar Insurance Company Limited (SICL) has published its fourth quarter report of the fiscal year 2078/2079 with an increase in net profit by 28.93% compared to the corresponding quarter of the previous year. The company's net profit rises to Rs 40.14 crores from Rs 31.13 crores in the corresponding quarters.
As per the unaudited report for the fourth quarter published today, Shikhar Insurance has a paid-up capital of Rs. 2.28 Arba with a reserve of Rs. 70.97 crores. The company has an insurance fund of Rs. 1.41 arba.
The company was able to collect a massive gross premium of Rs 5 Arba till Q4 of FY 2078/79.
The Net Premium rose by 18.50% to Rs. 1.39 arba in FY 2078/2079 from Rs. 1.17 arba in the corresponding quarter of the previous year. The company has earned Rs. 10.65 crores from income from investment, loans, and other headings and Rs. 67.46 crores from Reinsurance Income.
The company’s net claim increased by 9.24% to Rs. 97.50 crores in this quarter. The company’s number of policies stood at 262,598 till Q4 of FY 2078/2079.
Its earnings per share (EPS) stood at Rs. 17.56 whereas Net worth per share stood at Rs. 197.64. The company traded at a P/E multiple of 45.96 times.
Major Highlights:
| Particulars (In Rs '000") | Shikhar Insurance | ||
| Q4 2078/79 | Q4 2077/78 | Difference | |
| Paid Up Capital | 2,286,081 | 1,758,524 | 30.00% |
| Reserve and Surplus | 709,795 | 509,076 | 39.43% |
| Insurance Fund | 1,411,628 | 1,210,908 | 16.58% |
| Disaster Fund | 110,818.39 | 110,818.39 | 0.00% |
| Long Term Investment and Loan | 1,087,154 | 1,104,685 | -1.59% |
| Net Premium | 1,391,000 | 1,173,821 | 18.50% |
| Re-Insurance Commission Income | 674,632 | 542,208 | 24.42% |
| Income from Investment, Loan, and others | 106,515 | 118,549 | -10.15% |
| Claim Payment (Net) | 975,059 | 892,579 | 9.24% |
| Agent Commission | 25,706 | 27,510 | -6.56% |
| Provision for Pending Claims | 237,634 | 230,780 | 2.97% |
| Provision for Un-Expired Risk | 695,500 | 586,910 | 18.50% |
| Gross Profit | 526,176 | 359,062 | 46.54% |
| Provision for losses (Investment) | 7,675 | - | |
| Net Profit/(Loss) | 401,439 | 311,366 | 28.93% |
| Gross Premium | 5,009,222 | 3,972,390 | 26.10% |
| No of Policies | 262,598 | 261,116 | 0.57% |
| EPS (In Rs.) | 17.56 | 17.71 | - |
| Net Worth per Share (In Rs.) | 197.64 | 204.11 | -3.17% |
| Qtr End PE Ratio | 45.96 | - | - |
| Qtr End Market Price | 807.00 | - | - |
