 |
Results
18-Jul-23
|
|
|
|
|
|
|
|
Analysis
|
|
|
|
ICICI Lombard General Insurance Company
|
|
Strong premium collection growth
|
|
|
|
|
|
ICICI Lombard General Insurance
Company has posted 12% increase in the net profit to Rs 390.36 crore in the
quarter ended June 2023 (Q1FY2024). PBT increased 12% to Rs 520.01 crore in Q1FY2024.
Gross Direct Premium Income (GDPI) of
the Company was at Rs 6387 crore in Q1FY2024 as against Rs 5370 crore in Q1FY2023,
a growth of 19% as against the industry growth of 17.9%.
Combined ratio stood at 103.8% in Q1FY2024
compared to 104.1% in Q1FY2023.
Capital gains were at Rs 123 crore in Q1FY2024
as against Rs 32 crore in Q1FY2023.
ROAE was 14.7% in Q1FY2024 as against 15.0%
in Q1FY2023.
Solvency ratio was 2.53x as at end March
2023 as against 2.51x as at end March 2023 which was higher than the minimum
regulatory requirement of 1.50x.
Book
value
of the company stood at Rs 219.6 per share end June 2023. Book value including
fair value change account (shareholders funds) stood at Rs 222.9 per share end June
2023.
Financial
Performance FY2023
Gross Direct Premium Income (GDPI) of
the Company stood at Rs 21025 crore in FY2023 compared to Rs 17977 crore in
FY2022, a growth of 17.0% which was higher than the industry growth of 16.4%.
Combined ratio stood at 104.5% in
FY2023 compared to 108.8% in FY2022.
Profit before tax (PBT) grew by 25.5%
to Rs 2113 crore in FY2023 compared to Rs 1684 crore in FY2022
Capital gains were at Rs 453 crore in
FY2023 compared to Rs 738 crore in FY2022.
Consequently, Profit after tax (PAT)
grew by 36.0% to Rs 1729 crore in FY2023 compared to Rs 1271 crore in FY2022.
PAT includes reversal of tax provision of Rs 128 crore in Q2 FY2023.
Return on Average Equity
(ROAE) was 17.7% in FY2023 as against 14.7% in FY2022.
The Board of Directors of
the Company has proposed final dividend of Rs 5.50 per share for FY2023. The
overall dividend for FY2023 including proposed final dividend is Rs 10.00 per
share.
|
ICICI Lombard General
Insurance Company: Results Statement of Revenue Accounts
|
|
|
2306 (3)
|
2206 (3)
|
Var %
|
2303 (12)
|
2203 (12)
|
Var %
|
|
1. Premiums earned
(net)
|
3887.32
|
3468.22
|
12
|
14822.85
|
13032.09
|
14
|
|
2. Profit / Loss on
sale/ redemption of investments
|
621.55
|
490.04
|
27
|
2321.21
|
2290.81
|
1
|
|
3. Others -
|
29.16
|
20.03
|
46
|
950.84
|
806.98
|
18
|
|
4. Interest, Dividend
& Rent Gross
|
0.00
|
0.00
|
-
|
0.00
|
0.00
|
-
|
|
Total (A)
|
4538.03
|
3978.29
|
14
|
18094.90
|
16129.88
|
12
|
|
|
|
|
|
|
|
|
|
1. Claims Incurred
(net)
|
2881.53
|
2499.87
|
15
|
10725.65
|
9781.90
|
10
|
|
2. Commission (net)
|
556.35
|
78.21
|
611
|
472.21
|
633.89
|
-26
|
|
3. Operating expenses
related to insurance business
|
768.94
|
1083.42
|
-29
|
4514.78
|
3920.12
|
15
|
|
4. Premium deficiency
|
0.00
|
0.00
|
-
|
0.00
|
0.00
|
-
|
|
Total Expenses (B)
|
4206.82
|
3661.50
|
15
|
15712.64
|
14335.91
|
10
|
|
|
|
|
|
|
|
|
|
Operating Profit/ Loss
C=(A -B)
|
331.21
|
316.79
|
5
|
2382.26
|
1793.97
|
33
|
|
APPROPRIATIONS
|
|
|
|
|
|
|
|
Transfer to P&L
Account
|
331.21
|
316.79
|
5
|
2382.26
|
1793.97
|
33
|
|
Transfer to Other
Reserves
|
0.00
|
0.00
|
-
|
0.00
|
0.00
|
-
|
|
ICICI Lombard General
Insurance Company: Results Statement of Profit & Loss Account
|
|
|
2306 (3)
|
2206 (3)
|
Var %
|
2303 (12)
|
2203 (12)
|
Var %
|
|
1. Operating
profit/(loss)
|
331.21
|
316.79
|
5
|
2382.26
|
1793.97
|
33
|
|
(a) Fire Insurance
|
104.59
|
150.15
|
-30
|
596.10
|
408.19
|
46
|
|
(b) Marine Insurance
|
-6.81
|
-3.50
|
95
|
22.92
|
-7.69
|
LP
|
|
(c) Health
|
-68.38
|
-20.24
|
238
|
60.98
|
-379.66
|
LP
|
|
(d) Crop
|
-5.65
|
6.34
|
PL
|
57.35
|
13.93
|
312
|
|
(e) Motor
|
310.23
|
151.49
|
105
|
1419.01
|
1545.24
|
-8
|
|
(f) Miscellaneous
Insurance
|
-2.77
|
32.55
|
PL
|
225.90
|
213.96
|
6
|
|
|
|
|
|
|
|
|
|
2. Income from
investments
|
185.53
|
171.05
|
8
|
731.73
|
703.19
|
4
|
|
3. Other income
|
0.06
|
0.04
|
50
|
43.94
|
2.95
|
1389
|
|
Total Income (A)
|
516.80
|
487.88
|
6
|
3157.93
|
2500.11
|
26
|
|
|
|
|
|
|
|
|
|
4. Provisions (Other
than taxation)
|
-18.18
|
2.96
|
-714
|
83.84
|
-45.18
|
PL
|
|
5. Other expenses
|
14.97
|
19.83
|
-25
|
961.56
|
861.77
|
12
|
|
|
|
|
|
|
|
|
|
Total Expenses (B)
|
-3.21
|
22.79
|
-114
|
1045.40
|
816.59
|
28
|
|
|
|
|
|
|
|
|
|
Profit before tax
(A-B)
|
520.01
|
465.09
|
12
|
2112.53
|
1683.52
|
25
|
|
Provision for taxation
|
129.65
|
116.06
|
12
|
383.48
|
412.51
|
-7
|
|
Profit after tax
|
390.36
|
349.03
|
12
|
1729.05
|
1271.01
|
36
|
|
EPS (Rs) *
|
31.8
|
28.4
|
|
35.2
|
25.9
|
|
|
* on current equity of
Rs 491.20 crore of face value of Rs 10 each, PL: Profit to Loss, LP: Loss to
Profit, Source: Capitaline Database
|
|
Peer Comparision (Standalone)
|
Q-202306
|
Income from Operations
(Rs. Crs)
|
var.(%)
|
PBDT
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
17-Jul-2023
|
var.(%)
over
One year
|
Last FY
BV(Rs)
|
P/BV
|
|
ICICI Lombard General Insurance Company Ltd
|
3,887.32
|
12.08
|
520.01
|
11.81
|
390.36
|
11.84
|
1,365.00
|
7.03
|
211.59
|
6.45
|
|
5Paisa Capital Ltd
|
84.53
|
0.61
|
21.77
|
78.74
|
14.58
|
93.63
|
392.75
|
38.12
|
152.36
|
2.58
|
|
Aditya Birla Money Ltd
|
78.45
|
26.59
|
14.90
|
16.13
|
9.44
|
16.54
|
62.60
|
10.89
|
19.34
|
3.24
|
|
Alfred Herbert (India) Ltd
|
0.38
|
153.33
|
0.16
|
-78.08
|
0.10
|
-85.92
|
764.30
|
15.80
|
1,235.91
|
0.62
|
|
Anand Rathi Wealth Ltd
|
167.71
|
31.07
|
72.97
|
32.36
|
52.36
|
32.66
|
1,015.65
|
59.74
|
121.14
|
8.38
|
|
Angel One Ltd
|
802.60
|
18.5
|
303.00
|
23.67
|
219.00
|
22.83
|
1,586.90
|
23.38
|
252.33
|
6.29
|
|
Choice International Ltd
|
3.55
|
22.41
|
0.83
|
-3.49
|
0.54
|
1.89
|
354.25
|
78.66
|
26.31
|
13.47
|
|
Emerald Leasing Finance And Investment Co Ltd
|
1.76
|
79.59
|
1.01
|
110.42
|
0.76
|
111.11
|
23.04
|
36.74
|
12.19
|
1.89
|
|
Escorts Finance Ltd
|
0.00
|
-
|
-0.07
|
56.25
|
-0.07
|
56.25
|
7.15
|
25.44
|
-44.47
|
-0.16
|
|
Gogia Capital Services Ltd
|
7.13
|
300.56
|
6.51
|
408.59
|
6.46
|
587.23
|
111.45
|
-22.14
|
74.17
|
1.50
|
|
ICICI Prudential Life Insurance Company Ltd
|
7,020.03
|
1.97
|
217.32
|
8.77
|
206.91
|
32.9
|
582.45
|
11.39
|
67.97
|
8.57
|
|
Indian Infotech and Software Ltd
|
4.90
|
113.04
|
4.47
|
122.39
|
3.35
|
66.67
|
2.10
|
-14.63
|
2.29
|
0.92
|
|
Macro International Ltd
|
1.36
|
-
|
0.01
|
LP
|
0.01
|
LP
|
26.09
|
2.11
|
13.00
|
2.01
|
|
Morarka Finance Ltd
|
5.13
|
-1.16
|
5.00
|
-1.38
|
4.81
|
-1.64
|
129.20
|
-7.45
|
422.16
|
0.31
|
|
Nam Securities Ltd
|
20.15
|
6.39
|
0.34
|
21.43
|
0.25
|
19.05
|
61.20
|
151.33
|
19.77
|
3.10
|
|
SG Finserve Ltd
|
34.84
|
348300
|
20.92
|
LP
|
15.64
|
LP
|
630.25
|
518.80
|
138.85
|
4.54
|
|
Sita Enterprises Ltd
|
0.66
|
500
|
0.60
|
LP
|
0.58
|
LP
|
23.95
|
36.08
|
38.47
|
0.62
|
|
Som Datt Finance Corporation Ltd
|
3.29
|
LP
|
3.17
|
LP
|
2.80
|
LP
|
234.25
|
736.61
|
23.34
|
10.04
|
|
Thirdwave Financial Intermediaries Ltd
|
0.00
|
-
|
-0.33
|
-153.85
|
-0.33
|
-153.85
|
33.37
|
49.64
|
3.30
|
10.10
|
|
V B Desai Financial Services Ltd
|
0.81
|
20.9
|
0.17
|
41.67
|
0.13
|
44.44
|
10.20
|
20.71
|
24.30
|
0.42
|
|
Viji Finance Ltd
|
0.45
|
-16.67
|
0.18
|
-57.14
|
0.07
|
-70.83
|
1.74
|
-37.86
|
1.47
|
1.19
|
|
Industry
|
12,125.05
|
6.98
|
1,192.94
|
19.79
|
927.75
|
24.8
|
1,74,637.09
|
29.63
|
|
6.45
|
|
|
|
|
Previous News |
ICICI Lombard General Insurance Company allots 84,606 equity shares under ESOS
(
Corporate News
-
29-Apr-24
15:25
)
|
|
|
ICICI Lombard rallies as Q4 PAT rises 19% YoY to Rs 520 cr
(
Hot Pursuit
-
18-Apr-24
13:22
)
|
|
|
ICICI Lombard General Insurance Company allots 27,660 equity shares under ESOP
(
Corporate News
-
13-Dec-23
17:34
)
|
|
|
ICICI Lombard General Insurance Company allots 16,650 equity shares under ESOS
(
Corporate News
-
15-Nov-23
14:11
)
|
|
|
Board of ICICI Lombard General Insurance Co. recommends final dividend
(
Corporate News
-
17-Apr-24
20:10
)
|
|
|
ICICI Lombard spurts after PAT jumps 22% YoY in Q3 FY24
(
Hot Pursuit
-
17-Jan-24
12:48
)
|
|
|
ICICI Lombard General Insurance Company standalone net profit rises 22.39% in the December 2023 quarter
(
Results
-
Announcements
17-Jan-24
07:33
)
|
|
|
ICICI Lombard PAT slips to Rs 577cr in Q2 FY24
(
Hot Pursuit
-
19-Oct-23
10:46
)
|
|
|
Board of ICICI Lombard General Insurance Co. recommends Interim Dividend
(
Corporate News
-
19-Oct-23
09:53
)
|
|
|
D B Realty Ltd leads gainers in 'A' group
(
Hot Pursuit
-
29-May-23
12:00
)
|
|
|
ICICI Lombard General Insurance Company Ltd gains for third straight session
(
Hot Pursuit
-
29-May-23
13:05
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|