Everest Insurance total premium surges by 42 percent; EPS at just Rs. 4.89

May 7, 2019 | Investopaper

Everest Insurance has published its unaudited third-quarter report of F.Y. 2075/76 today. The unaudited report shows that the net premium has increased by 275 percent to Rs. 29.49 crores in the third quarter. The net premium in the corresponding quarter of the previous year stood at Rs. 7.85 crores. Likewise, the net profit has risen by 33 percent to Rs. 4.03 crores.

The net claim until the third quarter is Rs. 7.26 crores. This is 174 percent higher than the corresponding quarter previous year. The total premium collection is Rs. 60.48 crores.

The insurance has paid up capital of Rs. 27.40 crores with a reserve of Rs. 13.08 crores and insurance fund of Rs. 21.70 crores. The Annualized EPS is Rs. 19.56 and net worth per share is Rs. 230.77 as of the unaudited third quarter.

*** However, Everest Insurance has already closed the books for 300 percent right share. So, the capital will rise to Rs. 109.59 crores with annualized EPS of Rs. 4.89 and net worth per share of Rs. 131.74 only. At the current market price per share ( Baisakh 23, 2076) of Rs. 433, the actual P/E ratio is 88.55.

Everest Insurance: Financial Highlights, 3rd Quarter, 2075/76

Headings 3rd Qtr, 2075/76 3rd Qtr, 2074/75  Percent Change
Paid up capital (Rs. ‘crores’) 27.4 13.37 104.94
Reserve & Surplus (Rs. ‘crores’) 13.08 10.5 24.57
Insurance Fund (Rs. ‘crores’) 21.7 19.11 13.55
Total Investments (Rs. ‘crores’) 57.35 59.73 -3.98
Total Premium (Rs. ‘crores’) 60.48 42.74 41.51
Net Premium (Rs. ‘crores’) 29.49 7.85 275.67
Net Claim (Rs. ‘crores’) 7.26 2.65 173.96
Net Profit (Rs. ‘Crores’) 4.02 3.03 32.67
Earnings Per Share (Rs.) *** 19.56 30.22 -35.27
Net-worth Per Share (Rs.)*** 230.77 321.47 -28.21
Market Price Per Share (Rs.) 433
P/E ratio*** 22.13


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