Company Overview: Reliance General Insurance Company Limited (RGICL) is a leading general insurance provider in India, offering a wide range of insurance products including motor, health, travel, home, and marine insurance. The company serves a diverse customer base, including individuals, corporates, and small and medium enterprises (SMEs), through a network of 131 offices and over 90,000 intermediaries across India. Financial Performance In the financial year 2022-23, RGICL achieved significant milestones in its growth journey: a) Gross Written Premium (GWP): Increased from ₹9,504.86 crore in FY 2021-22 to ₹10,489.23 crore in FY 2022-23, marking a growth of 10.36%. b) Net Earned Premium: Rose from ₹5,133.80 crore in FY 2021-22 to ₹6,022.42 crore in FY 2022-23. c) Profit Before Tax (PBT): Increased by 9.02% to ₹415.18 crore in FY 2022-23 from ₹380.83 crore in the previous year. d) Profit After Tax (PAT): Grew to ₹270.69 crore in FY 2022-23 from ₹242.28 crore in FY 2021-22. e) Investment Assets Under Management (AUM): Expanded to ₹16,935 crore in FY 2022-23 from ₹14,525 crore in FY 2021-22. Growth and Innovation RGICL has consistently focused on innovation and customer-centricity, leveraging technology to enhance its product offerings and customer service. The company has integrated advanced technologies like Artificial Intelligence (AI), Machine Learning (ML), and data automation to streamline processes and improve efficiency.
| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | - | 9505 | 10489 | 11689 |
| Cost of Material Consumed | - | 4207 | 6278 | 6771 |
| Gross Margins | - | 5134 | 6022 | 6687 |
| Change in Inventory | - | 112 | 71 | 112 |
| Employee Benefit Expenses | - | 749 | 861 | 1051 |
| Other Expenses | - | 359 | 502 | 30 |
| EBITDA | - | 6354 | 7456 | 7880 |
| OPM | - | 3980 | 4649 | 5421 |
| Other Income | - | -148 | -192 | 864 |
| Finance Cost | - | 1831 | 2273 | 1425 |
| D&A | - | 0 | 0 | 0 |
| EBIT | - | 691 | 726 | 170 |
| EBIT Margins | - | 211 | 202 | 241 |
| PBT | - | 29 | 39 | 121 |
| PBT Margins | - | 550 | 552 | 131 |
| Tax (2021) | - | 381 | 415 | 401 |
| PAT | - | 139 | 144 | 121 |
| NPM | - | 242 | 271 | 280 |
| EPS | - | 9.61 | 10.75 | 10.57 |
| Financial Ratios | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Operating Profit Margin | - | 110.3 | 111.76 | 115.3 |
| Net Profit Margin | - | 0.78 | 0.77 | 0.81 |
| Earning Per Share (Diluted) | - | 1.26 | 1.14 | 1.08 |
| Assets | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Fixed Assets | - | 93 | 101 | 121 |
| CWIP | - | 155 | 238 | 175 |
| Investments | - | 2858 | 3016 | 3527 |
| Trade Receivables | - | 11648 | 13919 | 16987 |
| Inventory | - | 2501 | 3060 | 1987 |
| Other Assets | - | 17255 | 20334 | 22797 |
| Total Assets | - | - | - | - |
| Liabilities | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Share Capital | - | 251.8 | 252.06 | 264.83 |
| FV | - | 10 | 10 | 10 |
| Reserves | - | 2048 | 2323 | 2847 |
| Borrowings | - | 12414 | 15027 | 16776 |
| Trade Payables | - | 2297 | 2578 | 2640 |
| Other Liabilities | - | 244.2 | 153.94 | 269.17 |
| Total Liabilities | - | 17255 | 20334 | 22797 |
| Cash-Flow Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| PBT | - | 9236 | 9913 | 12845 |
| OPBWC | - | -1575 | -621 | -1096 |
| Change in Receivables | - | -136 | -53 | 28 |
| Change in Inventories | - | -4700 | -4733 | -6858 |
| Change in Payables | - | -519 | -575 | -1744 |
| Other Changes | - | -1914 | -2078 | -1206 |
| Working Capital Change | - | -180 | 18 | 294 |
| Cash Generated From Operations | - | -97 | -56 | -109 |
| Tax | - | 115 | 1815 | 2154 |
| Cash Flow From Operations | - | -78 | -41 | -62 |
| Purchase of PPE | - | 10 | 0 | 0 |
| Sale of PPE | - | -11578 | -10128 | -13760 |
| Cash Flow From Investment | - | 10512 | 6892 | 10741 |
| Borrowing | - | 790 | 1767 | 829 |
| Divided | - | -344 | -1510 | -2252 |
| Equity | - | -4.25 | -4.57 | 257 |
| Others From Financing | - | 0 | 0 | 0 |
| Cash Flow from Financing | - | 0 | - | - |
| Net Cash Generated | - | - | - | - |
| Cash at the Start | - | - | - | - |
| Cash at the End | - | - | - | - |
| Shareholding Pattern | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Reliance Capital | - | 99.90% | 99.79% | 98.67% |
| Others | - | 0.10% | 0.21% | 1.33% |
