General Insurance Corporation of India

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General Insurance Corporation of India

₹ 320 -2.75%
29 Sep - close price
gicre.in BSE: 540755 NSE: GICRE
About

General Insurance Corporation of India is engaged in the business of Reinsurance.(Source : 201903 Annual Report Page No:87)

Key Points

History[1][2] - Post Independence, Government of India (GOI) took over 55 Indian insurance companies and the undertakings of 52 insurers carrying on general insurance business. Later in Nov 1972, GOI incorporated General Insurance Corporation of India (GIC) to look after the above entities which were merged into 4 companies namely, National Insurance Company Limited, The New India Assurance Company Limited, The Oriental Insurance Company Limited, United India Insurance Company Limited (which is also a wholly-owned subsidiary of GIC).[3]

Website BSE NSE
  • Market Cap ₹ 56,210 Cr.
  • Current Price ₹ 320
  • High / Low ₹ 418 / 319
  • Stock P/E 6.33
  • Book Value ₹ 422
  • Dividend Yield 4.14 %
  • ROCE 17.4 %
  • ROE 14.6 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Stock is trading at 0.76 times its book value
  • Stock is providing a good dividend yield of 4.14%.
  • Company has been maintaining a healthy dividend payout of 24.6%

Cons

  • The company has delivered a poor sales growth of 1.75% over past five years.
  • Company has a low return on equity of 13.0% over last 3 years.
  • Contingent liabilities of Rs.27,679 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Financial Services Financial Services Insurance General Insurance

Part of BSE 500 BSE 200 BSE Dollex 200 BSE PSU Nifty 500

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
11,166 13,075 11,148 10,254 12,886 12,378 11,144 13,209 14,623 12,755 12,589 13,018 14,401
10,200 11,611 9,523 7,290 11,413 9,998 9,215 10,210 12,018 9,993 10,223 10,556 12,380
Operating Profit 966 1,465 1,625 2,964 1,473 2,380 1,929 2,998 2,605 2,762 2,366 2,463 2,021
OPM % 9% 11% 15% 29% 11% 19% 17% 23% 18% 22% 19% 19% 14%
187 391 195 131 17 -93 255 146 59 553 135 645 171
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 1,154 1,855 1,820 3,096 1,490 2,287 2,184 3,144 2,664 3,315 2,501 3,108 2,192
Tax % 18% 13% 24% 18% 25% 18% 26% 25% 18% 19% 24% 23% 26%
978 1,689 1,439 2,580 1,401 1,856 1,677 2,499 2,531 2,874 1,726 2,533 1,744
EPS in Rs 5.57 9.63 8.20 14.71 7.98 10.58 9.56 14.24 14.42 16.38 9.84 14.44 9.94
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
13,595 15,338 26,776 38,198 44,928 50,345 48,583 48,967 46,638 45,978 49,617 52,986 52,763
15,160 16,851 27,561 39,900 41,204 52,445 45,510 45,816 39,709 38,506 40,822 42,923 43,152
Operating Profit -1,566 -1,512 -786 -1,702 3,724 -2,100 3,073 3,151 6,929 7,472 8,795 10,062 9,611
OPM % -12% -10% -2.9% -4.5% 8% -4.2% 6% 6% 15% 16% 18% 19% 18%
4,436 4,545 4,573 5,351 145 1,754 11 618 1,112 465 324 1,391 1,504
Interest 33 2 7 12 0 0 0 0 1 1 0 0 0
Depreciation 9 9 10 8 14 19 15 14 10 12 15 6 0
Profit before tax 2,829 3,021 3,770 3,630 3,854 -366 3,069 3,755 8,031 7,925 9,105 11,447 11,115
Tax % 1% 11% 13% 12% 32% -24% 41% 41% 18% 18% 23% 21%
2,891 2,823 3,672 3,146 2,758 -186 1,992 2,386 6,907 6,686 7,432 9,662 8,875
EPS in Rs 336.16 3.28 4.27 17.93 15.72 -1.06 11.35 13.60 39.37 38.11 42.36 55.08 50.60
Dividend Payout % 11% 19% 27% 38% 43% 0% 0% 17% 18% 26% 24% 24%
Compounded Sales Growth
10 Years: 13%
5 Years: 2%
3 Years: 4%
TTM: 3%
Compounded Profit Growth
10 Years: 20%
5 Years: 37%
3 Years: 12%
TTM: 4%
Stock Price CAGR
10 Years: %
5 Years: 17%
3 Years: 12%
1 Year: -12%
Return on Equity
10 Years: 11%
5 Years: 13%
3 Years: 13%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 430 430 430 439 877 877 877 877 877 877 877 877
Reserves 43,742 41,445 19,753 23,716 24,615 23,067 31,586 35,131 44,308 54,379 60,622 69,604
0 0 0 0 0 0 0 0 0 0 0 0
30,745 34,228 77,131 88,329 96,716 96,637 107,801 115,833 117,546 129,196 133,268 135,247
Total Liabilities 74,916 76,103 97,314 112,484 122,209 120,581 140,265 151,841 162,731 184,452 194,768 205,728
181 214 192 200 225 209 200 200 324 318 327 332
CWIP 0 0 0 0 0 0 0 0 0 0 8 12
Investments 56,758 55,686 66,481 73,791 82,045 70,918 93,990 104,677 114,738 135,763 143,280 148,373
17,978 20,203 30,641 38,493 39,938 49,455 46,075 46,963 47,669 48,372 51,153 57,011
Total Assets 74,916 76,103 97,314 112,484 122,209 120,581 140,265 151,841 162,731 184,452 194,768 205,728

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,635 6,013 7,901 8,837 7,604 8,617 13,284 9,051 11,722 -212 1,976 466
-2,763 -3,332 -4,414 -5,605 -7,501 -4,016 -10,802 -6,188 -9,076 1,749 -275 1,281
-387 -650 -1,035 -1,206 -1,428 -1,428 0 0 -395 -1,263 -1,754 -1,754
Net Cash Flow -515 2,030 2,452 2,026 -1,324 3,174 2,482 2,863 2,251 274 -53 -7
Free Cash Flow 2,601 5,970 7,898 8,821 7,564 8,614 13,278 9,036 11,589 -217 1,952 453
CFO/OP -145% -402% -1,046% -543% 240% -440% 467% 334% 195% 22% 48% 30%

Ratios

Consolidated / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 0 0 0 0 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 0 0 0 0 0 0
Working Capital Days -720 -740 -396 -336 -321 -353 -447 -496 -564 -604 -595 -595
ROCE % 3% 3% 7% 7% 13% -1% 11% 11% 20% 13% 16% 17%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Obligatory Cession Mix
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Incurred Claims Ratio
% ・Standalone data
Domestic Premium Mix
% ・Standalone data
Number of Employees
count ・Standalone data
Market Share in Indian Reinsurance Market
% ・Standalone data
Fire Premium Mix
% ・Standalone data
Number of Countries Served
count ・Standalone data
Number of Direct Insurance Clients
count ・Standalone data

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Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
85.78% 85.78% 85.78% 85.78% 82.40% 82.40% 82.40% 82.40% 82.40% 82.40% 82.40% 77.40%
0.86% 0.95% 0.87% 1.05% 1.34% 1.80% 1.93% 2.12% 2.12% 2.12% 2.05% 2.43%
11.02% 11.11% 11.06% 10.91% 13.72% 13.70% 13.68% 13.29% 13.10% 13.32% 13.55% 17.73%
2.34% 2.15% 2.30% 2.25% 2.56% 2.10% 2.00% 2.19% 2.40% 2.16% 2.00% 2.45%
No. of Shareholders 2,26,8702,22,6062,42,3142,43,1272,52,3022,32,0572,26,1622,26,7652,30,6832,24,5592,17,4942,24,351

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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