Sagarmatha Insurance Q3: stagnant profit due to rise in claim payment and low growth in core business; Company recently proposed 86% bonus shares
Tue, May 14, 2019 7:17 AM on Financial Analysis, Stock Market, Latest,
Sagarmatha Insurance Company (SIC) Limited has earned a net profit of Rs 17.19 crore till the third quarter (Q3) of the fiscal year 2075/76 with minimum 0.98% growth.
As per the unaudited report for the third quarter published today, the net earnings from premium increased by 27.16% to Rs 83.61 crore till Q3 from Rs 65.75 crore in the corresponding quarter of last FY 2074/75.
The claims payment (net) rises by 42.05% to Rs 40.40 crore till Q3. The company has managed to hike its number of policyholders by just 6.34% to 1.06 lakhs.
SIC has a paid-up capital of Rs 52.82 crore with reserve of Rs 69.98 crore. Likewise, the company’s insurance fund remains stagnant at Rs 48.87 crore till Q3. SIC still need to meet the regulatory paid up requirements of Rs 1 arba.
Sagarmatha Insurance proposes 86% bonus shares; Paid up capital to Rs 1 arba after adjustment
Its annualized EPS stands at Rs 42.58, net worth per share at Rs 335.78 and quarter end P/E ratio at 31.82 times.
Major Highlights
|
Particulars (In Rs '000) |
Sagarmatha Insurance |
||
|---|---|---|---|
|
Q3 2075/76 |
Q3 2074/75 |
Difference |
|
|
Paid Up Capital |
538,292.00 |
538,292.00 |
0.00% |
|
Reserve and Surplus |
699,827.00 |
388,351.00 |
80.20% |
|
Insurance Fund |
488,791.00 |
488,791.00 |
0.00% |
|
Contingent Fund |
80,582.00 |
45,993.00 |
75.20% |
|
Net Premium |
836,125.00 |
657,529.00 |
27.16% |
|
Re-Insurance Income |
208,645.00 |
170,849.00 |
22.12% |
|
Income from Investment, Loan and others |
1,450.00 |
1,281.00 |
13.19% |
|
Claim Payment (Net) |
404,008.00 |
284,408.00 |
42.05% |
|
Agent Commission |
32,176.00 |
30,607.00 |
5.13% |
|
Gross Profit |
206,333.00 |
236,708.00 |
-12.83% |
|
Net Profit |
171,914.00 |
170,238.00 |
0.98% |
|
No of Policies |
106,472.00 |
100,125.00 |
6.34% |
|
Annualized EPS (In Rs.) |
42.58 |
42.17 |
0.98% |
|
Net Worth per Share (In Rs.) |
335.78 |
271.49 |
23.68% |
|
Qtr End PE Ratio |
31.82 |
- |
- |
|
Latest PE |
35.79 |
- |
- |
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