General Insurance Corporation of India

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General Insurance Corporation of India

₹ 379 3.37%
22 Nov - 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 ₹ 66,465 Cr.
  • Current Price ₹ 379
  • High / Low ₹ 468 / 280
  • Stock P/E 9.42
  • Book Value ₹ 321
  • Dividend Yield 2.64 %
  • ROCE 16.8 %
  • ROE 13.8 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Stock is trading at 1.18 times its book value
  • Company has delivered good profit growth of 29.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 22.2%

Cons

  • The company has delivered a poor sales growth of 0.40% over past five years.
  • Company has a low return on equity of 12.7% 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 Nifty Midcap 150 BSE 250 LargeMidCap Index Nifty LargeMidcap 250 Nifty MidSmallcap 400 BSE 400 MidSmallCap Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

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
13,080 11,178 11,449 12,627 11,970 11,249 10,556 11,087 13,224 10,851 10,199 12,823 12,130
11,888 11,306 8,114 12,091 9,978 10,268 7,341 10,333 11,582 9,405 7,161 11,430 9,765
Operating Profit 1,192 -128 3,335 536 1,993 981 3,215 755 1,643 1,446 3,038 1,393 2,365
OPM % 9% -1% 29% 4% 17% 9% 30% 7% 12% 13% 30% 11% 20%
22 27 280 453 469 315 -211 180 205 477 134 0 -84
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 1,214 -102 3,615 989 2,461 1,295 3,004 935 1,848 1,924 3,171 1,393 2,281
Tax % 17% -72% 50% 30% 24% 7% 15% 22% 13% 21% 17% 26% 18%
1,011 -28 1,795 690 1,860 1,199 2,564 732 1,605 1,518 2,642 1,036 1,861
EPS in Rs 5.76 -0.16 10.23 3.93 10.60 6.83 14.61 4.17 9.15 8.65 15.06 5.91 10.61
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
13,251 13,616 13,559 15,211 31,301 43,489 44,297 50,128 48,687 48,856 46,402 45,197 46,003
13,850 14,993 15,120 16,759 27,653 39,771 41,627 52,244 45,308 45,806 39,669 38,491 37,760
Operating Profit -599 -1,377 -1,561 -1,548 3,647 3,718 2,670 -2,116 3,379 3,050 6,733 6,706 8,242
OPM % -5% -10% -12% -10% 12% 9% 6% -4% 7% 6% 15% 15% 18%
3,083 3,825 4,433 4,546 -14 -42 804 1,688 -202 522 1,025 1,172 527
Interest 170 138 33 2 0 0 26 0 0 0 1 1 0
Depreciation 4 5 9 9 10 7 14 18 14 12 8 10 0
Profit before tax 2,310 2,304 2,831 2,987 3,624 3,668 3,434 -446 3,163 3,560 7,749 7,878 8,769
Tax % 1% -1% 1% 11% 14% 12% 35% -19% 39% 44% 19% 18%
2,289 2,322 2,803 2,655 3,128 3,234 2,224 -359 1,920 2,006 6,312 6,497 7,058
EPS in Rs 266.15 269.98 325.89 3.09 3.64 18.43 12.68 -2.05 10.95 11.43 35.98 37.03 40.23
Dividend Payout % 0% 25% 12% 20% 32% 37% 53% 0% 0% 20% 20% 27%
Compounded Sales Growth
10 Years: 13%
5 Years: 0%
3 Years: -2%
TTM: 0%
Compounded Profit Growth
10 Years: 16%
5 Years: 30%
3 Years: 50%
TTM: 16%
Stock Price CAGR
10 Years: %
5 Years: 8%
3 Years: 38%
1 Year: 23%
Return on Equity
10 Years: 8%
5 Years: 10%
3 Years: 13%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 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 430 430 430 430 430 439 877 877 877 877 877 877 877
Reserves 27,709 32,771 42,669 40,208 28,051 30,674 22,484 21,046 29,326 32,436 41,100 51,118 55,399
0 0 0 0 0 0 0 0 0 0 0 0 0
28,427 29,802 30,357 33,540 66,467 78,560 95,523 94,273 104,458 111,574 115,148 126,291 138,606
Total Liabilities 56,566 63,002 73,455 74,177 94,949 109,672 118,884 116,196 134,661 144,887 157,125 178,286 194,882
57 118 142 175 164 171 197 181 169 170 294 287 294
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 39,999 45,688 55,725 54,441 64,745 71,922 79,613 68,526 91,096 101,106 110,683 131,425 143,305
16,510 17,196 17,588 19,561 30,040 37,580 39,074 47,490 43,396 43,612 46,147 46,574 51,283
Total Assets 56,566 63,002 73,455 74,177 94,949 109,672 118,884 116,196 134,661 144,887 157,125 178,286 194,882

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2,571 5,802 7,782 8,662 7,016 8,225 12,824 8,420 11,349 10,744
-2,720 -3,119 -4,317 -5,475 -6,912 -3,791 -10,383 -5,631 -8,753 -8,376
-387 -650 -1,035 -1,206 -1,428 -1,428 0 0 -395 -1,263
Net Cash Flow -536 2,033 2,429 1,981 -1,324 3,006 2,440 2,789 2,201 1,105

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 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 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 0 0 0 0 0 0
Working Capital Days -686 -700 -721 -744 -338 -287 -322 -349 -439 -487 -557 -602
ROCE % 6% 4% 3% 3% 10% 12% 10% -2% 12% 11% 21% 17%

Shareholding Pattern

Numbers in percentages

2 Recently
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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