DSE : NORTHRNINS
Northern Islami Insurance PLC. — Financial statements
Insurance Carriers · Bangladesh
Last price 32.5 BDT (At close: Oct 29, 2026) · Market cap 1.46B
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 223.29M | 315.47M | 467.28M | 563.18M | 688.98M | 571.19M |
| Total Interest & Dividend Income | 72.94M | 77.83M | 75.19M | 60.70M | 45.10M | 42.17M |
| Gain (Loss) on Sale of Investments | 25.68K | 25.68K | -17.09K | 14.44K | -12.42K | 40.52K |
| Other Revenue | 47.27M | 47.58M | 57.46M | 71.77M | 90.58M | 81.81M |
| Total Revenue | 343.52M | 440.91M | 599.91M | 695.67M | 824.65M | 695.21M |
| Policy Benefits | -53.49M | 23.81M | 86.72M | 142.03M | 246.33M | 235.47M |
| Policy Acquisition & Underwriting Costs | 51.10M | 87.34M | 120.23M | 135.09M | 150.61M | 61.57M |
| Depreciation & Amortization | 17.16M | 17.16M | 18.88M | 19.05M | 18.74M | 14.41M |
| Selling, General & Administrative | 198.42M | 212.08M | 270.92M | 297.17M | 316.05M | 294.01M |
| Other Operating Expenses | 1.22M | 1.22M | 534.61K | 1.28M | 714.51K | 850.06K |
| Total Operating Expenses | 214.42M | 341.61M | 497.27M | 594.62M | 732.44M | 606.31M |
| Operating Income | 129.11M | 99.30M | 102.64M | 101.05M | 92.21M | 88.90M |
| Other Non Operating Income (Expenses) | -1.35M | -1.35M | -1.54M | -1.59M | -1.94M | -1.40M |
| EBT Excluding Unusual Items | 127.76M | 97.95M | 101.10M | 99.45M | 90.27M | 87.50M |
| Gain (Loss) on Sale of Assets | -191.08K | 708.94K | ||||
| Pretax Income | 127.76M | 97.95M | 101.10M | 99.45M | 90.07M | 88.21M |
| Income Tax Expense | 26.63M | 26.15M | 23.83M | 21.53M | 13.33M | 13.14M |
| Net Income | 101.12M | 71.80M | 77.27M | 77.92M | 76.75M | 75.07M |
| Net Income to Common | 101.12M | 71.80M | 77.27M | 77.92M | 76.75M | 75.07M |
| Shares Outstanding (Basic) | 44.79M | 44.79M | 44.79M | 44.79M | 44.79M | 44.79M |
| Shares Outstanding (Diluted) | 44.79M | 44.79M | 44.79M | 44.79M | 44.79M | 44.79M |
| EPS (Basic) | 2.26 | 1.60 | 1.72 | 1.74 | 1.71 | 1.68 |
| EPS (Diluted) | 2.26 | 1.60 | 1.72 | 1.74 | 1.71 | 1.68 |
| Free Cash Flow | -93.20M | -25.89M | 127.75M | 249.71M | 245.99M | 152.02M |
| Free Cash Flow Per Share | -2.08 | -0.58 | 2.85 | 5.58 | 5.49 | 3.39 |
| Dividend Per Share | 0.48 | 0.48 | 0.95 | 0.95 | 0.95 | 0.95 |
| Operating Margin | 37.58% | 22.52% | 17.11% | 14.52% | 11.18% | 12.79% |
| Profit Margin | 29.44% | 16.28% | 12.88% | 11.20% | 9.31% | 10.80% |
| Free Cash Flow Margin | -27.13% | -5.87% | 21.30% | 35.90% | 29.83% | 21.87% |
| EBITDA | 145.26M | 116.42M | 121.45M | 120.01M | 108.58M | 103.27M |
| EBITDA Margin | 42.29% | 26.40% | 20.24% | 17.25% | 13.17% | 14.85% |
| D&A For EBITDA | 16.15M | 17.12M | 18.81M | 18.97M | 16.38M | 14.37M |
| EBIT | 129.11M | 99.30M | 102.64M | 101.05M | 92.21M | 88.90M |
| EBIT Margin | 37.58% | 22.52% | 17.11% | 14.52% | 11.18% | 12.79% |
| Effective Tax Rate | 20.85% | 26.70% | 23.57% | 21.65% | 14.80% | 14.89% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 209.36M | 210.29M | 203.21M | 241.67M | 233.79M | |
| Investments in Equity & Preferred Securities | 155.64K | 129.96K | 147.04K | 132.60K | 145.02K | |
| Other Investments | 208.99M | 959.28M | 1.04B | |||
| Total Investments | 208.99M | 1.17B | 1.25B | 203.36M | 241.80M | 233.93M |
| Cash & Equivalents | 984.46M | 71.52M | 53.82M | 989.82M | 771.58M | 577.08M |
| Reinsurance Recoverable | 541.50M | 531.32M | 520.24M | 509.01M | 497.31M | 404.11M |
| Other Receivables | 606.67M | 3.46M | 5.53M | 5.63M | 6.57M | 6.59M |
| Property, Plant & Equipment | 342.98M | 350.51M | 367.44M | 380.60M | 386.30M | 291.35M |
| Other Intangible Assets | 80.36K | 123.63K | 190.19K | 146.86K | 72.39K | |
| Other Current Assets | 573.39M | 534.43M | 529.80M | 415.27M | 385.94M | |
| Other Long-Term Assets | 1.16M | 25.00M | ||||
| Total Assets | 2.69B | 2.70B | 2.73B | 2.64B | 2.32B | 1.90B |
| Accrued Expenses | 17.73M | 7.77M | 23.89M | 22.18M | 39.63M | |
| Insurance & Annuity Liabilities | 100.71M | 128.89M | 195.18M | 235.44M | 279.96M | 228.80M |
| Unpaid Claims | 701.19M | 693.91M | 620.86M | 520.25M | 308.22M | 152.88M |
| Unearned Premiums | 95.73M | 105.41M | 153.52M | 197.21M | 144.12M | 40.27M |
| Reinsurance Payable | 113.97M | 150.99M | 217.79M | 186.05M | 147.23M | 165.05M |
| Current Income Taxes Payable | 379.92M | 350.20M | 322.48M | 297.48M | 283.80M | |
| Long-Term Deferred Tax Liabilities | 100.89M | 101.69M | 105.27M | 109.15M | 112.61M | 77.96M |
| Other Current Liabilities | 16.43M | 17.51M | 15.08M | 12.98M | 11.65M | 7.88M |
| Other Long-Term Liabilities | 431.71M | 5.79M | 5.79M | 5.79M | 5.79M | 5.79M |
| Total Liabilities | 1.56B | 1.61B | 1.67B | 1.62B | 1.33B | 1.00B |
| Common Stock | 426.60M | 426.60M | 426.60M | 426.60M | 426.60M | 426.60M |
| Retained Earnings | 698.55M | 660.49M | 631.35M | 596.74M | 561.48M | 469.04M |
| Shareholders' Equity | 1.13B | 1.09B | 1.06B | 1.02B | 988.08M | 895.64M |
| Total Liabilities & Equity | 2.69B | 2.70B | 2.73B | 2.64B | 2.32B | 1.90B |
| Filing Date Shares Outstanding | 44.79M | 44.79M | 44.79M | 44.79M | 44.79M | 44.79M |
| Total Common Shares Outstanding | 44.79M | 44.79M | 44.79M | 44.79M | 44.79M | 44.79M |
| Net Cash (Debt) | 984.46M | 71.52M | 53.82M | 989.82M | 771.58M | 577.08M |
| Net Cash Per Share | 21.98 | 1.60 | 1.20 | 22.10 | 17.23 | 12.88 |
| Book Value Per Share | 25.12 | 24.27 | 23.62 | 22.85 | 22.06 | 20.00 |
| Tangible Book Value | 1.13B | 1.09B | 1.06B | 1.02B | 987.93M | 895.57M |
| Tangible Book Value Per Share | 25.12 | 24.27 | 23.62 | 22.84 | 22.06 | 19.99 |
| Machinery | 147.55M | 147.36M | 142.23M | 128.95M | 111.22M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 101.12M | 71.80M | 77.27M | 77.92M | 76.75M | 75.07M |
| Depreciation & Amortization | 16.15M | 17.12M | 18.81M | 18.97M | 16.38M | 14.37M |
| Other Amortization | 43.27K | 43.27K | 66.57K | 85.67K | 25.53K | 38.98K |
| Gain (Loss) on Sale of Assets | 191.08K | -708.94K | ||||
| Gain (Loss) on Sale of Investments | 2.04M | |||||
| Change in Other Net Operating Assets | -167.75M | -110.35M | 54.65M | 169.64M | 174.64M | 67.42M |
| Other Operating Activities | -42.39M | -4.28M | -17.41M | -3.48M | -1.42M | 1.94M |
| Operating Cash Flow | -92.90M | -25.69M | 133.40M | 263.12M | 266.57M | 160.13M |
| Capital Expenditures | -293.39K | -194.15K | -5.65M | -13.40M | -20.59M | -8.11M |
| Investment in Securities | 89.71M | 79.71M | -66.43M | 10.00M | -10.00M | -14.39M |
| Investing Cash Flow | 89.42M | 79.51M | -72.08M | -3.40M | -30.59M | -22.50M |
| Common Dividends Paid | -36.07M | -36.12M | -40.77M | -41.47M | -41.49M | -41.12M |
| Financing Cash Flow | -36.07M | -36.12M | -40.77M | -41.47M | -41.49M | -41.12M |
| Net Cash Flow | -39.55M | 17.70M | 20.55M | 218.24M | 194.50M | 96.51M |
| Free Cash Flow | -93.20M | -25.89M | 127.75M | 249.71M | 245.99M | 152.02M |
| Free Cash Flow Margin | -27.13% | -5.87% | 21.30% | 35.90% | 29.83% | 21.87% |
| Free Cash Flow Per Share | -2.08 | -0.58 | 2.85 | 5.58 | 5.49 | 3.39 |
| Levered Free Cash Flow | -35.70M | 31.32M | 163.97M | 275.49M | 172.30M | 129.10M |
| Unlevered Free Cash Flow | -35.70M | 31.32M | 163.97M | 275.49M | 172.30M | 129.10M |
| Cash Income Tax Paid | 35.88M | 30.43M | 41.24M | 25.01M | 17.08M | 11.20M |
| Change in Working Capital | -167.75M | -110.35M | 54.65M | 169.64M | 174.64M | 67.42M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.46B | 1.19B | 1.28B | 1.83B | 1.69B | 2.30B |
| Enterprise Value | 471.30M | 121.17M | 198.00M | 939.39M | 919.17M | 1.72B |
| PE Ratio | 14.40 | 16.52 | 16.51 | 23.43 | 22.01 | 30.57 |
| PS Ratio | 4.24 | 2.69 | 2.13 | 2.62 | 2.05 | 3.30 |
| PB Ratio | 1.29 | 1.09 | 1.21 | 1.78 | 1.71 | 2.56 |
| P/FCF Ratio | 9.98 | 7.31 | 6.87 | 15.10 | ||
| P/OCF Ratio | 9.56 | 6.94 | 6.34 | 14.33 | ||
| EV/Sales Ratio | 1.37 | 0.28 | 0.33 | 1.35 | 1.11 | 2.48 |
| EV/EBITDA Ratio | 3.24 | 1.04 | 1.63 | 7.83 | 8.46 | 16.68 |
| EV/EBIT Ratio | 3.65 | 1.22 | 1.93 | 9.30 | 9.97 | 19.38 |
| EV/FCF Ratio | 1.55 | 3.76 | 3.74 | 11.33 | ||
| Net Debt / Equity Ratio | -0.88 | -0.07 | -0.05 | -0.97 | -0.78 | -0.64 |
| Net Debt / EBITDA Ratio | -6.78 | -0.61 | -0.44 | -8.25 | -7.11 | -5.59 |
| Net Debt / FCF Ratio | 10.56 | 2.76 | -0.42 | -3.96 | -3.14 | -3.80 |
| Quick Ratio | 1.71 | 0.05 | 0.04 | 0.78 | 0.83 | 0.84 |
| Current Ratio | 2.30 | 0.86 | 0.82 | 1.61 | 1.82 | 1.99 |
| Asset Turnover | 0.13 | 0.16 | 0.22 | 0.28 | 0.39 | 0.38 |
| Return on Equity (ROE) | 9.09% | 6.69% | 7.42% | 7.75% | 8.15% | 8.54% |
| Return on Assets (ROA) | 2.97% | 2.29% | 2.39% | 2.54% | 2.73% | 3.05% |
| Return on Invested Capital (ROIC) | 9.13% | 6.79% | 7.54% | 7.87% | 8.34% | 8.60% |
| Earnings Yield | 6.95% | 6.05% | 6.06% | 4.27% | 4.54% | 3.27% |
| FCF Yield | -6.40% | -2.18% | 10.02% | 13.68% | 14.56% | 6.62% |
| Dividend Yield | 1.47% | 1.80% | 3.35% | 2.34% | 2.53% | 1.86% |
| Payout Ratio | 35.66% | 50.30% | 52.76% | 53.22% | 54.06% | 54.77% |
| Total Shareholder Return | 1.47% | 1.80% | 3.35% | 2.34% | 2.53% | 1.86% |