General Insurance Corporation of India

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General Insurance Corporation of India

₹ 430 -0.09%
13 Dec - 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 ₹ 75,448 Cr.
  • Current Price ₹ 430
  • High / Low ₹ 468 / 280
  • Stock P/E 10.4
  • Book Value ₹ 341
  • Dividend Yield 2.33 %
  • ROCE 15.8 %
  • ROE 13.3 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 24.1% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.4%

Cons

  • The company has delivered a poor sales growth of 0.20% over past five years.
  • Company has a low return on equity of 12.8% over last 3 years.
  • Contingent liabilities of Rs.22,856 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

Sector: Insurance Industry: Finance & Investments

Part of BSE 150 MidCap Index Nifty 500 Multicap 50:25:25 BSE 400 MidSmallCap Index BSE Allcap BSE 200

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
13,431 11,292 11,537 12,646 12,061 11,275 10,656 11,166 13,075 10,880 10,254 12,886 12,378
11,894 11,376 8,076 12,111 9,896 10,289 7,423 10,200 11,611 9,532 7,290 11,413 9,998
Operating Profit 1,537 -84 3,462 534 2,166 986 3,233 966 1,465 1,348 2,964 1,473 2,380
OPM % 11% -1% 30% 4% 18% 9% 30% 9% 11% 12% 29% 11% 19%
33 54 264 491 510 319 -208 187 391 472 131 17 -93
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 1,570 -30 3,726 1,026 2,676 1,305 3,025 1,154 1,855 1,820 3,096 1,490 2,287
Tax % 13% -233% 49% 31% 23% 8% 14% 18% 13% 24% 18% 25% 18%
1,348 142 1,936 729 2,217 1,232 2,729 978 1,689 1,439 2,580 1,401 1,856
EPS in Rs 7.68 0.81 11.04 4.16 12.63 7.02 15.56 5.57 9.63 8.20 14.71 7.98 10.58
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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 Mar 2024 TTM
13,616 13,595 15,338 26,776 38,198 44,928 50,345 48,583 48,967 46,638 45,375 46,398
16,088 15,160 16,851 27,561 39,900 41,204 52,445 45,510 45,816 39,709 38,619 38,233
Operating Profit -2,472 -1,566 -1,512 -786 -1,702 3,724 -2,100 3,073 3,151 6,929 6,756 8,165
OPM % -18% -12% -10% -3% -4% 8% -4% 6% 6% 15% 15% 18%
4,917 4,436 4,545 4,573 5,351 145 1,754 11 618 1,112 1,182 528
Interest 138 33 2 7 12 0 0 0 0 1 1 0
Depreciation 5 9 9 10 8 14 19 15 14 10 12 0
Profit before tax 2,302 2,829 3,021 3,770 3,630 3,854 -366 3,069 3,755 8,031 7,925 8,693
Tax % -1% 1% 11% 13% 12% 32% -24% 41% 41% 18% 18%
2,433 2,891 2,823 3,672 3,146 2,758 -186 1,992 2,386 6,907 6,686 7,276
EPS in Rs 282.91 336.16 3.28 4.27 17.93 15.72 -1.06 11.35 13.60 39.37 38.11 41.47
Dividend Payout % 24% 11% 19% 27% 38% 43% 0% 0% 17% 18% 26%
Compounded Sales Growth
10 Years: 13%
5 Years: 0%
3 Years: -2%
TTM: 0%
Compounded Profit Growth
10 Years: 16%
5 Years: 24%
3 Years: 50%
TTM: 10%
Stock Price CAGR
10 Years: %
5 Years: 13%
3 Years: 46%
1 Year: 35%
Return on Equity
10 Years: 8%
5 Years: 10%
3 Years: 13%
Last Year: 13%

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 Mar 2024 Sep 2024
Equity Capital 430 430 430 430 439 877 877 877 877 877 877 877
Reserves 33,756 43,742 41,445 19,753 23,716 24,615 23,067 31,586 35,131 44,308 54,379 58,963
0 0 0 0 0 0 0 0 0 0 0 0
29,809 30,745 34,228 77,131 88,329 96,716 96,637 107,801 115,833 117,546 129,196 141,631
Total Liabilities 63,995 74,916 76,103 97,314 112,484 122,209 120,581 140,265 151,841 162,731 184,452 201,471
118 181 214 192 200 225 209 200 200 324 318 325
CWIP 0 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 93,990 104,677 114,738 135,763 147,900
17,198 17,978 20,203 30,641 38,493 39,938 49,455 46,075 46,963 47,669 48,372 53,246
Total Assets 63,995 74,916 76,103 97,314 112,484 122,209 120,581 140,265 151,841 162,731 184,452 201,471

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 Mar 2024
2,635 6,013 7,901 8,837 7,604 8,617 13,284 9,051 11,722 11,144
-2,763 -3,332 -4,414 -5,605 -7,501 -4,016 -10,802 -6,188 -9,076 -8,729
-387 -650 -1,035 -1,206 -1,428 -1,428 0 0 -395 -1,263
Net Cash Flow -515 2,030 2,452 2,026 -1,324 3,174 2,482 2,863 2,251 1,153

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 Mar 2024
Debtor Days 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
Working Capital Days -572 -720 -740 -396 -336 -321 -353 -447 -496 -564 -612
ROCE % 3% 3% 7% 7% 13% -1% 11% 11% 20% 16%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 85.78% 82.40%
0.53% 0.45% 0.47% 0.46% 0.53% 0.67% 0.77% 0.86% 0.95% 0.87% 1.05% 1.34%
10.89% 10.90% 10.91% 11.07% 11.01% 11.02% 11.02% 11.02% 11.11% 11.06% 10.91% 13.72%
2.79% 2.87% 2.84% 2.68% 2.67% 2.53% 2.42% 2.34% 2.15% 2.30% 2.25% 2.56%
No. of Shareholders 2,68,8832,73,5292,79,7232,67,5502,55,0942,48,1002,35,6682,26,8702,22,6062,42,3142,43,1272,52,302

* 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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