IME General Insurance shows decent growth in Q2 of 75/76 FY; EPS & P/E stands at Rs 21.69 and 20.58 times respectively

Tue, Feb 12, 2019 11:06 AM on Financial Analysis, Latest, Stock Market,

IME General Insurance Limited ( IGI ) has earned a net profit of Rs 5.86 crore in the Q2 of 2075/76 fiscal year. The profit of the company has increased by 21.0% in this quarter compared to the corresponding quarter of last fiscal year.

As per the unaudited report published today, the net earnings from premium has increased by 38.0% to Rs 26.46 crore till Poush month end from Rs 19.11 crore in the corresponding quarter of last fiscal year.

The company's number of policyholders has increased by 28.0% to 41,152 compare to 32,155 in the corresponding Q2 of last fiscal year.

The insurance company has a paid-up capital of Rs 54.0 crore with a reserve of Rs 14.56 crore in Q2 2075/76.

The company’s insurance fund has increased to Rs 20.73 crore in this quarter from Rs 11.77 crore in the corresponding quarter of the last fiscal year. 

Financial Highlights of Q2;

Particulars (In Rs '000) IGI     
  Q2 2075/76 Q2 2074/75 Difference
Paid Up Capital 540,000.00 540,000.00 0%
Reserved & Surplus 145,567.00 114,904.00 27%
Insurance Fund 207,257.00 117,658.00 76%
Net Earnings From Premium 264,585.00 191,057.00 38%
Insurance Claim Payment 79,489.00 48,769.00 63%
Policy Holders 41,152.00 32,155.00 28%
Net Profit 58,560.00 48,218.00 21%
EPS 21.69 17.86  
Net Worth Per Share 126.96 121.28  
P/E 20.58    

Its annualized EPS stands at Rs 21.69, net worth per share at Rs 126.96 and P/E ratio at 20.58 times.

IME General Insurance Limited (IGI) had issued 80% right shares to the shareholder in February 2019. After the adjustment of the right shares, the paid up capital will increase to Rs 97.20 crore. The LTP of the stock stands at Rs 426.