Shikhar Insurance (SICL) Net Premium Rises by Mere 1.54% in Q1; Insurance Fund Stands at Rs. 1.47 Arba
Wed, Nov 16, 2022 11:18 AM on Financial Analysis, Stock Market, Featured,
Shikhar Insurance Company Limited (SICL) has published its first quarter report of the fiscal year 2079/2080 with an increase in net profit by mere 0.93% compared to the corresponding quarter of the previous year. The company's net profit rises to Rs 13.48 crores from Rs 13.36 crores in the corresponding quarters.
As per the unaudited report for the first quarter published today, Shikhar Insurance has a paid-up capital of Rs. 2.28 Arba with a reserve of Rs. 75.7 crores. The company has an insurance fund of Rs. 1.47 arba.
The Net Premium rose slightly by 1.54% to Rs. 45.18 Crores in FY 2079/2080 from Rs. 44.50 Crores in the corresponding quarter of the previous year. The company has earned Rs. 7.53 crores from income from investment, loan and others.
The company’s net claim increased by 20.03% to Rs. 18.87 crores in this quarter.
Its annualized earnings per share (EPS) stood at Rs. 23.60 whereas Net worth per share stood at Rs. 203.55. The company traded at a P/E multiple of 29.78 times.
Major Highlights:
| Particulars (In Rs '000") | Shikhar Insurance | ||
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Paid Up Capital | 2,286,081 | 1,758,524 | 30.00% |
| Reserve and Surplus | 757,172 | 638,872 | 18.52% |
| Insurance Fund | 1,479,077 | 1,362,005 | 8.60% |
| Contingent Fund | 130,890.35 | 132,381.11 | 0.00% |
| Net Premium | 451,895 | 445,038 | 1.54% |
| Re-Insurance Commission Income | 164,329 | 159,547 | 3.00% |
| Income from Investment, Loan and others | 75,397 | 52,451 | 43.75% |
| Claim Payment (Net) | 188,743 | 157,252 | 20.03% |
| Agent Commission | 8,397 | 6,434 | 30.51% |
| Net Profit | 134,897 | 133,652 | 0.93% |
| No of Policies | 21,521 | 15,359 | 40.12% |
| Annualized EPS (In Rs.) | 23.60 | 30.40 | -22.36% |
| Net Worth per Share (In Rs.) | 203.55 | 221.31 | -8.03% |
| Qtr End PE Ratio | 29.78 | - | - |
| Qtr End Market Price | 703.00 | - | - |
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