Himalayan General Insurance (HGI) profit rises by 40 percent

August 13, 2019 | Investopaper

Himalayan General Insurance (HGI) has reported a rise in profit by 40 percent in the fourth quarter of the fiscal year 2075/76. The net profit of the company stood at Rs. 19.85 crores. In the previous fiscal year, the net profit stood at Rs. 14.17 crores. The rise in profit is mainly due to a decrease in provision for an outstanding claim and unexpired risk.

However, the net premium of the company has declined by 17 percent despite growth in total premium by 22 percent. The total premium stands at Rs. 145.89 crores. Likewise, the net premium is Rs. 27.10 crores. The net claim has increased slightly by 4 percent to Rs. 17.48 crores. The total outstanding claim is a whopping Rs. 149.52 crores.

The paid-up capital of the company is Rs. 102.72 crores. HGI has a reserve of Rs. 25.53 crores. Likewise, the insurance fund stands at Rs. 47.31 crores. The company has made a total investment of Rs.197.46 crores.

EPS is at Rs. 19.33 whereas the net-worth per share is Rs. 174.10. The share of HGI was trading at Rs. 350 at the end of Ashad, 2076. The p/e ratio based on this price is 18.11.

The fourth-quarter report of Himalayan General Insurance (HGI) is summarized in the table below:

Himalayan General Insurance Fourth Quarter, 2075/76

Headings 4TH QTR, 2075/76 4TH QTR, 2074/75 PERCENT CHANGE
Paid-up Capital (Rs. ‘crores’) 102.72 102.72 0.00
Reserve & Surplus (Rs. ‘crores’) 25.53 15.6 63.65
Insurance Fund  (Rs. ‘crores’) 47.31 37.38 26.57
Total Investments  (Rs. ‘crores’) 197.46 194.99 1.27
Total Premium (Rs. ‘crores’) 145.89 119.1 22.49
Net Premium  (Rs. ‘crores’) 27.10 32.88 -17.58
Net Claim (Rs. ‘crores’) 17.48 16.79 4.11
Total Outstanding Claim (Rs. ‘crores’) 149.52 153.11 -2.34
Net Profit  (Rs. ‘crores’) 19.85 14.17 40.08
Earnings Per Share (Rs.) 19.33
Networth Per Share (Rs.) 174.1
Market Price (Rs.) [Ashad 31, 2076] 350
P/E Ratio [ based on the price of Ashad 31] 18.11


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