Sanima General Insurance Net premium rises by 81.35% in Q4, Company to issue IPO to general public soon
Thu, Aug 13, 2020 11:19 AM on Latest, Company Analysis,
Sanima General Insurance Company Limited (SAICL) has published its fourth-quarter report of FY 2076/2077 with a rise in Net Profit by 53.41%. The company’s profit has increased from Rs. 3.62 crores to Rs. 5.56 crores in this quarter.
As per the unaudited report for the fourth quarter published today, SAICL has a paid-up capital of Rs. 70 crores with a reserve and surplus of Rs. 4.98 crores.
The company has 5.73 crores in insurance funds and Rs. 57.49 lakhs in contingent fund till the fourth quarter of FY 2076/2077.
The net earnings from the premium rose by 81.35% to Rs. 13.55 crores till Q4, 2076/2077 from Rs. 7.47 crores in the corresponding quarter of the last fiscal year. The company has earned Rs. 8.03 crores from reinsurance income and investments.
However, the company’s Net claim payment rose by a massive 661.64% to Rs. 2.73 crores in Q4 of FY 2076/2077. Till this quarter, the company has issued 42,383 policies.
SAICL’s EPS stands at Rs. 7.94 whereas net worth per share stands at Rs. 116.13 in the fourth quarter of fiscal year 2076/2077.
The company is proposing to come out with an IPO of 3,000,000 equity shares with a face value NPR 100 each, at par and company has already applied at SEBON for approval.
Major Highlights:
|
Particulars (In Lakhs) |
Sanima General Insurance company limited |
||
|---|---|---|---|
|
Q4, 2076/2077 |
Q4,2075/2076 |
Difference |
|
|
Paid-up Capital |
700,000 |
700,000 |
- |
|
Reserves & Surplus |
49,883 |
24,745 |
101.59% |
|
Insurance Fund |
57,331 |
29,633 |
93.47% |
|
Contingent Fund |
5,749 |
2,956 |
94.49% |
|
Net Premium |
135,541 |
74,741 |
81.35% |
|
Re-insurance income |
64,001 |
40,856 |
56.65% |
|
Income from investment, loan, and others |
16,356 |
8,664 |
88.78% |
|
Claim Payment (Net) |
27,343 |
3,590 |
661.64% |
|
Agent Commission |
7,762 |
4,333 |
79.14% |
|
Gross Profit |
37,421 |
3,315 |
1028.84% |
|
Net Profit |
55,629 |
36,262 |
53.41% |
|
No. of Policies |
42,383 |
17,811 |
137.96% |
|
EPS (Rs.) |
7.94 |
5.18 |
53.28% |
|
Net worth per share (Rs.) |
116.13 |
108.19 |
7.34% |
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