PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2020

Particular

Schedule

Current Year

Previous Year

(` '000)

(` '000)

Operating Profit/-Loss

(a) Fire Insurance

-55,80,908

-89,19,632

(b) Marine Insurance

39,75,034

36,02,475

(64,78,184)

3,36,98,349

(d) Life Insurance

2,86,963

-7,95,328

Income from Investments

(a) Interest, Dividend & Rent - Gross

92,40,424

1,09,21,922

(b) Profit on sale of Investments

65,83,267

71,35,211

Less: Loss of sale of Investment

Other Income:

Forex Gain/( Loss)

15,03,833

13,35,724

Miscellaneous Receipts

2,11,229

1,14,152

Total (A)

97,41,658

4,70,92,873

Provision for Doubtful Loans & Investment

87,01,427

48,71,692

Amortisation of premium on Investments

13,17,127

10,17,935

Diminution in the value of investments written off

315009

3,04,671

Provision/(written off) for Doubtful Debts

22,56,234

16,18,482

Other Expenses :

Expenses relating to Investments

(Profit)/Loss on sale of Assets (Net)

3,547

199

Interest & Others

28,865

83,653

Corporate Social Responsibility Expensess

7,76,168

6,52,899

Total (B)

1,33,98,377

85,49,531

Profit/(Loss) Before Tax

(36,56,719)

3,85,43,342

Provision for Taxation :

Current Tax

1,10,001

1,23,21,599

Wealth Tax

MAT Credit

Deferred Tax

-1,87,274

-1,13,744

Fringe Benefit Tax

Provision for Tax in respect of earlier years

-7,96,487

MAT Credit of earlier year

-49,196

Profit/ (Loss) After Tax

(27,82,959)

2,63,84,683

Share of Profit in Asoociates Companies

9,18,393

11,91,012

Profit for the year

(18,64,566)

2,75,75,695

Appropriations

(a) Balance brought forward from last year

6,23,74,320

4,90,75,107

(b) Interim dividend

1,18,42,200

1,18,42,200

(d) Dividend distribution tax

2434283

24,34,283

(e) Transfer to General Reserve

Balance carried forward to Balance Sheet

4,62,33,273

6,23,74,320

Basic and Diluted EPS

-1.06

15.72

GENERAL INSURANCE CORPORATION OF INDIA

Registration No. 112

Date of Registration with IRDAI : 2nd April, 2001

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2020

Particulars

Schedule

Current Year

Previous Year

(` '000)

(` '000)

SOURCES OF FUNDS

Share Capital

87,72,000

87,72,000

Reserves and Surplus

23,06,68,250

24,61,51,751

Borrowings

Deferred Tax Liability

Fair Value Change Account

Policyholders' Fund

3,25,13,285

8,40,13,142

Shareholders' Fund

11,62,07,293

22,02,26,487

Total

38,81,60,828

55,91,63,380

APPLICATION OF FUNDS

Investments - Shareholders

17,72,86,001

24,57,07,039

Investments - Policyholders

53,18,90,082

57,47,45,925

Loans

23,47,397

25,79,188

Fixed Asssets

18,16,894

19,75,792

Goodwill on consolidation

2,73,832

27,3,832

Deferred Tax Asset

2,10,715

25,562

Current Assets:

Cash and Bank Balances

16,10,67,329

12,93,31,368

Advances and Other Assets

33,09,19,683

26,74,47,982

Sub-Total (A)

49,19,87,012

39,67,79,350

Current Liabilities

64,33,12,639

52,11,13,873

Provisions

17,43,38,470

141809439

Sub-Total (B)

81,76,51,109

66,29,23,312

Net Current Assets (C)=(A-B)

-32,56,64,097

-26,61,43,962

Miscellaneous Expenditure

Total

38,81,60,828

55,91,63,380

CONTINGENT LIABILITIES

14,70,90,705

5,73,07,059

News & Announcement

Annual General Meeting 2015 of International Union of Aerospace Insurers (IUAI)

KFIN Technologies Private Limited
Corporate Registry
Karvy Selenium, Tower- B,
Plot No. 31 & 32,
Financial District,
Nanakramguda,
Serilingampally Mandal,
Hyderabad-500032, India.

Toll Free No : 18003454001
Email : einward.ris[at]kfintech[dot]com