27.769% Bonus Shares of Shikhar Insurance (SICL) Now Listed in NEPSE

38,40,202 bonus shares of Shikhar Insurance Company Limited (SICL) are now listed in NEPSE.

The 15th and 16th AGM of the company held on Chaitra 09, i.e. March 22 endorsed a 27.769% bonus shares and 1.462% cash dividend for the fiscal year 2076/77. The bonus shares are worth Rs. 38,16,89,127 and the cash dividend is worth Rs. 2,00,88,901.

The same bonus shares are now listed. As of writing, SICL has an LTP of Rs. 2,133.

The insurance company published its third-quarter report of the fiscal year 2077/2078 with an increase in net profit by 10.26% compared to the corresponding quarter of the previous year. The company’s net profit increased to Rs. 36.33 crores in this quarter from Rs. 32.95 crores in the corresponding quarter.

As per the unaudited report for the third quarter published today, Shikhar Insurance has a paid-up capital of Rs. 1.75 Arba with a reserve of Rs. 61.76 crores. The company has an insurance fund of Rs. 1.23 Arba.

Note: The 27.77% bonus shares proposed and approved by the 15th and 16th AGM are already adjusted in the published quarterly report and the agendas to issue 30% right shares are also approved by the AGM and Beema Samiti and the further process has been started.

The Net Premium rose by 11.97% to Rs. 1.08 Arba in FY 2077/2078 from Rs. 96.68 crores in the corresponding quarter of the previous year. The company has earned Rs. 13.35 crores from income from investment, loans, and other headings.

The company’s net claim decreased by 1.91% to Rs. 64.02 crores in this quarter. The company’s number of policies stood at 211,996 till Q3 of 2077/2078.

Its annualized earnings per share (EPS) stood at Rs. 27.55 whereas Net worth per share stood at Rs. 210.94. The company traded at a P/E multiple of 69.70 times.