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P & L - Consolidated Financial Statement 2020-21

PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021
Particular Schedule Current Year Previous Year
(` '000) (` '000)
1. Operating Profit/-Loss
(a) Fire Insurance
4306 922
(5580 908)
(b) Marine Insurance
(2416 585)
3975 034
(c) Miscellaneous Insurance
12234 382
(6478 184)
(d) Life Insurance
(1249 129)
286 963
2. Income from Investments
(a) Interest, Dividend & Rent - Gross
10563 362
9240 424
(b) Profit on sale of Investments
9430 230
6583 267
Less: Loss of sale of Investment 0 0
3. Other Income:
Forex Gain/( Loss) 0 1503 833
Profit on sale of Assets (Net) 262 0
Sundry Balances Written Back (Net) 0 0
Interest on Income-tax Refund (22 488) 0
(Provision) / Doubtful Debts written back 0 0
Motor Pool Service Charges 0 0
Miscellaneous Receipts
136 781
211 229
Total (A)
32983 737
9741 658
4. Provision for Doubtful Loans & Investment
3490 017
8701 427
5. Provision/(written off) for Doubtful Debts
(3683 288)
1317 127
6 Amortisation of premium on Investments
349 484
315 009
7 Diminution in the value of investments written off
340 251
2256 234
8 Other Expenses :
Expenses relating to Investments
0
0
Forex Loss/(Gain)
1240 768
0
(Profit)/Loss on sale of Assets (Net)
0
3 547
Sundry Balances Written off (Net) 4 0
Interest & Others
9 334
29 835
Corporate Social Responsibility Expensess
544 000
775 198
IPO Expenses
0
0
Total (B)
2290 570
13398 377
Profit/(Loss) Before Tax
30693 167
(3656 719)
Provision for Taxation :
Current Tax
12559 519
110 001
Wealth Tax 0 0
MAT Credit
0
0
Deferred Tax
20 860
(187 274)
Fringe Benefit Tax
0
0
Provision for Tax in respect of earlier years
(137 142)
(796 487)
MAT Credit of earlier year
0
0
Profit/ (Loss) After Tax
18249 930
(2782 959)
Share of Profit in Asoociates Companies
1665 952
9,18,393
Profit for the year
19915 882
(1864 565)
Appropriations
(a) Balance brought forward from last year
46233 273
62374 320
(b) Interim dividend
0
0
(c) Final dividend
0
11842 200
(d) Dividend distribution tax
0
2434 283
(e) Transfer to General Reserve
0
0
Balance carried forward to Balance Sheet
66149 155
46233 273
Basic and Diluted EPS
11.35
(1.06)

BS - Consolidated Financial Statement 2020-21

GENERAL INSURANCE CORPORATION OF INDIA
Registration No. 112
Date of Registration with IRDAI : 2nd April, 2001
CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2021
Particulars Schedule Current Year Previous Year
(` '000) (` '000)
SOURCES OF FUNDS
Share Capital 5 8772 000 8772 000
Reserves and Surplus 6 253756 709 230668 250
Borrowings 7 0 0
Deferred Tax Liability 0 0
Fair Value Change Account
Policyholders' Fund 210159 662 116207 293
Shareholders' Fund 62105 597 32513 285
Total 534793 968 388160 828
APPLICATION OF FUNDS
Investments - Shareholders 8
234644 846
177286 001
Investments - Policyholders 8A
705256 160
531890 082
Loans 9
2127 003
2347 397
Fixed Asssets 10
1722 605
1816 894
Goodwill on consolidation
273 832
273 832
Deferred Tax Asset
196 868
210 715
Current Assets:
Cash and Bank Balances 11
185888 053
161067 329
Advances and Other Assets 12
272536 995
330919 683
Sub-Total (A)
458425 048
491987 012
Current Liabilities 13
663569 271
643312 639
Provisions 14
204283 123
174338 470
Sub-Total (B)
867852 394
817651 109
Net Current Assets (C)=(A-B)
(409427 346)
(325664 097)
Miscellaneous Expenditure 15 0 0
Total
534793 968
388160 828
CONTINGENT LIABILITIES
170166 840
147090 705

Balance Sheet 2020-21

Balance Sheet as at 31 March 2021
Balance Sheet as at 31 March 2021
- Particulars Schedule - Current Year Previous Year
- - - - (` '000) (` '000)
SOURCES OF FUNDS - - - - -
- Share Capital 5 - 8772000 8772000
- Reserves and Surplus 6 - 231714 762 210457 631
- Borrowings 7 - 0 0
- Deferred Tax Liability - - 0 0
- Fair Value Change Account - - - -
- Shareholders Fund - - 61548237 32756864
- Policyholders Fund - - 210360283 116207292
- Total - - 512395 282 368193 787
APPLICATION OF FUNDS - - - - -
- Investments- Shareholders 8 - 212953 203 157037787
- Investments- Policyholders 8a - 698002713 528220442
- Loans 9 - 2124 612 2347 397
- Fixed Asssets 10 - 1692 784 1808 060
- Deferred Tax Asset - - 183 328 207 856
- Current Assets: - - - -
- Cash and Bank Balances 11 182940 927 - 158537 841
- Advances and Other Assets 12 248714 659 - 313802 615
- Sub-Total (A) - 431655 586 - 472340 456
- - - - - -
- Current Liabilities 13 630744 874 - 619127 147
- Provisions 14 203472 070 - 174641 064
- Sub-Total (B) - 834216 944 - 793768 211
- Net Current Assets (C)=(A-B) - - (402561 358) (321427 755)
- Miscellaneous Expenditure 15 - 0 0
- Total - - 512395 282 368193 787
CONTINGENT LIABILITIES - - - 170166 840 147090 705

MGA

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