General Insurance Corporation of India

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General Insurance Corporation of India

₹ 332 1.44%
25 Apr 4:01 p.m.
gicofindia.com 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 ₹ 58,193 Cr.
  • Current Price ₹ 332
  • High / Low ₹ 468 / 152
  • Stock P/E 8.52
  • Book Value ₹ 272
  • Dividend Yield 2.17 %
  • ROCE 19.8 %
  • ROE 17.0 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 35.4% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of 4.07% over past five years.
  • Company has a low return on equity of 11.0% over last 3 years.

* 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

Sector: Insurance Industry: Finance & Investments

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
11,780 9,884 12,923 13,431 11,292 11,537 12,646 12,061 11,275 10,656 11,166 13,075 10,880
10,249 7,804 14,639 11,894 11,376 8,076 12,111 9,896 10,289 7,423 10,200 11,611 9,532
Operating Profit 1,531 2,079 -1,715 1,537 -84 3,462 534 2,166 986 3,233 966 1,465 1,348
OPM % 13% 21% -13% 11% -1% 30% 4% 18% 9% 30% 9% 11% 12%
-57 -79 204 33 54 264 491 510 319 -208 187 391 472
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 1,473 2,000 -1,511 1,570 -30 3,726 1,026 2,676 1,305 3,025 1,154 1,855 1,820
Tax % 35% 39% 26% 13% 233% 49% 31% 23% 8% 14% 18% 13% 24%
931 1,329 -1,040 1,348 142 1,936 729 2,217 1,232 2,729 978 1,689 1,439
EPS in Rs 5.31 7.57 -5.93 7.68 0.81 11.04 4.16 12.63 7.02 15.56 5.57 9.63 8.20
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
13,616 13,595 15,338 26,776 38,198 44,928 50,345 48,583 48,967 46,638 45,777
16,088 15,160 16,851 27,561 39,900 41,204 52,445 45,510 45,816 39,710 38,765
Operating Profit -2,472 -1,566 -1,512 -786 -1,702 3,724 -2,100 3,073 3,151 6,929 7,012
OPM % -18% -12% -10% -3% -4% 8% -4% 6% 6% 15% 15%
4,917 4,436 4,545 4,573 5,351 145 1,754 11 618 1,112 842
Interest 138 33 2 7 12 0 0 0 0 0 0
Depreciation 5 9 9 10 8 14 19 15 14 10 0
Profit before tax 2,302 2,829 3,021 3,770 3,630 3,854 -366 3,069 3,755 8,031 7,854
Tax % -1% 1% 11% 13% 12% 32% 24% 41% 41% 18%
2,433 2,891 2,823 3,672 3,146 2,758 -186 1,992 2,386 6,907 6,835
EPS in Rs 282.91 336.16 3.28 4.27 17.93 15.72 -1.06 11.35 13.60 39.37 38.96
Dividend Payout % 24% 11% 19% 27% 38% 43% 0% 0% 17% 18%
Compounded Sales Growth
10 Years: %
5 Years: 4%
3 Years: -3%
TTM: -4%
Compounded Profit Growth
10 Years: %
5 Years: 35%
3 Years: 239%
TTM: 12%
Stock Price CAGR
10 Years: %
5 Years: 6%
3 Years: 18%
1 Year: 116%
Return on Equity
10 Years: %
5 Years: 9%
3 Years: 11%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 430 430 430 430 439 877 877 877 877 877 877
Reserves 33,756 43,742 41,445 19,753 23,716 24,615 23,067 31,586 35,131 44,308 46,897
0 0 0 0 0 0 0 0 0 0 0
29,809 30,745 34,228 77,131 88,329 96,716 96,637 107,801 115,833 117,546 125,775
Total Liabilities 63,995 74,916 76,103 97,314 112,484 122,209 120,581 140,265 151,841 162,731 173,549
118 181 214 192 200 225 209 200 200 324 318
CWIP 0 0 0 0 0 0 0 0 0 0 0
Investments 46,679 56,758 55,686 66,481 73,791 82,045 70,918 93,990 104,677 114,738 125,665
17,198 17,978 20,203 30,641 38,493 39,938 49,455 46,075 46,963 47,669 47,566
Total Assets 63,995 74,916 76,103 97,314 112,484 122,209 120,581 140,265 151,841 162,731 173,549

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2,635 6,013 7,901 8,837 7,604 8,617 13,284 9,051 11,722
-2,763 -3,332 -4,414 -5,605 -7,501 -4,016 -10,802 -6,188 -9,076
-387 -650 -1,035 -1,206 -1,428 -1,428 0 0 -395
Net Cash Flow -515 2,030 2,452 2,026 -1,324 3,174 2,482 2,863 2,251

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 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
Working Capital Days -572 -720 -740 -396 -336 -321 -353 -447 -496 -564
ROCE % 3% 3% 7% 7% 13% -1% 11% 11% 20%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78%
0.80% 0.69% 0.53% 0.45% 0.47% 0.46% 0.53% 0.67% 0.77% 0.86% 0.95% 0.87%
11.38% 11.04% 10.89% 10.90% 10.91% 11.07% 11.01% 11.02% 11.02% 11.02% 11.11% 11.06%
2.04% 2.49% 2.79% 2.87% 2.84% 2.68% 2.67% 2.53% 2.42% 2.34% 2.15% 2.30%
No. of Shareholders 2,51,8502,66,2722,68,8832,73,5292,79,7232,67,5502,55,0942,48,1002,35,6682,26,8702,22,6062,42,314

* 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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