DSE : RUPALIINS
Rupali Insurance Company Limited — Financial statements
Insurance Carriers · Bangladesh
Last price 27 BDT (At close: Oct 29, 2026) · Market cap 2.17B
Latest research: Rupali Insurance financial analysis: combined ratio 74.2% and EPS Tk 1.02 in 2025 (Oct 2026) · Rupali Insurance: unmodified 2025 audit, net underwriting profit Tk 98.2m and combined ratio 74.2%
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 471.57M | 483.94M | 440.01M | 348.27M | 325.89M | 375.91M |
| Total Interest & Dividend Income | 76.05M | 74.47M | 186.71M | 60.96M | 56.42M | 82.37M |
| Gain (Loss) on Sale of Investments | -8.64M | -8.64M | -49.87M | -984.80K | -34.00M | -7.15M |
| Other Revenue | 62.95M | 80.76M | 73.71M | 71.48M | 64.75M | 72.70M |
| Total Revenue | 601.94M | 630.53M | 650.56M | 479.72M | 413.06M | 523.82M |
| Policy Benefits | 163.48M | 146.03M | 200.46M | 129.35M | 71.77M | 66.39M |
| Policy Acquisition & Underwriting Costs | 97.43M | 97.43M | 85.53M | 64.88M | 56.36M | 23.03M |
| Depreciation & Amortization | 33.44M | 33.44M | 30.23M | 33.01M | 33.58M | 36.34M |
| Selling, General & Administrative | 182.61M | 228.38M | 198.41M | 184.04M | 163.72M | 188.61M |
| Provision for Bad Debts | 5.00M | |||||
| Reinsurance Income or Expense | -39.60K | -62.61K | -104.59K | |||
| Total Operating Expenses | 476.97M | 505.29M | 519.64M | 411.32M | 325.50M | 314.48M |
| Operating Income | 124.97M | 125.25M | 130.92M | 68.40M | 87.56M | 209.34M |
| Other Non Operating Income (Expenses) | -5.06M | -5.06M | -3.22M | -3.90M | -3.79M | -3.61M |
| EBT Excluding Unusual Items | 119.91M | 120.18M | 127.70M | 64.49M | 83.77M | 205.73M |
| Gain (Loss) on Sale of Assets | 1.52M | 2.28M | 287.00K | |||
| Pretax Income | 121.15M | 120.18M | 127.70M | 66.01M | 86.05M | 206.02M |
| Income Tax Expense | 41.27M | 42.29M | 51.84M | 13.52M | 11.49M | 48.46M |
| Net Income | 79.88M | 77.90M | 75.86M | 52.49M | 74.57M | 157.56M |
| Preferred Dividends & Other Adjustments | 1.24M | 16.69M | ||||
| Net Income to Common | 78.65M | 77.90M | 75.86M | 35.80M | 74.57M | 157.56M |
| Shares Outstanding (Basic) | 80.50M | 80.50M | 80.50M | 80.50M | 80.50M | 80.50M |
| Shares Outstanding (Diluted) | 80.50M | 80.50M | 80.50M | 80.50M | 80.50M | 80.50M |
| EPS (Basic) | 0.98 | 0.97 | 0.94 | 0.44 | 0.93 | 1.96 |
| EPS (Diluted) | 0.98 | 0.97 | 0.94 | 0.44 | 0.93 | 1.96 |
| Free Cash Flow | 76.16M | 73.60M | 771.79K | 31.25M | 123.87M | 125.01M |
| Free Cash Flow Per Share | 0.95 | 0.91 | 0.01 | 0.39 | 1.54 | 1.55 |
| Dividend Per Share | 0.48 | 0.48 | 0.95 | 0.95 | 0.95 | 0.95 |
| Operating Margin | 20.76% | 19.86% | 20.12% | 14.26% | 21.20% | 39.97% |
| Profit Margin | 13.07% | 12.35% | 11.66% | 7.46% | 18.05% | 30.08% |
| Free Cash Flow Margin | 12.65% | 11.67% | 0.12% | 6.51% | 29.99% | 23.86% |
| EBITDA | 136.71M | 132.32M | 149.11M | 89.72M | 110.14M | 232.18M |
| EBITDA Margin | 22.71% | 20.98% | 22.92% | 18.70% | 26.66% | 44.32% |
| D&A For EBITDA | 11.73M | 7.07M | 18.18M | 21.33M | 22.59M | 22.84M |
| EBIT | 124.97M | 125.25M | 130.92M | 68.40M | 87.56M | 209.34M |
| EBIT Margin | 20.76% | 19.86% | 20.12% | 14.26% | 21.20% | 39.97% |
| Effective Tax Rate | 34.06% | 35.19% | 40.59% | 20.48% | 13.35% | 23.52% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Investments in Equity & Preferred Securities | 43.45M | 96.61M | 172.26M | 178.35M | 59.49M | |
| Other Investments | 359.55M | 202.00M | 178.00M | 154.00M | 130.00M | 106.00M |
| Total Investments | 359.55M | 245.45M | 274.61M | 326.26M | 308.35M | 165.49M |
| Cash & Equivalents | 643.35M | 618.28M | 663.80M | 775.94M | 927.24M | 1.03B |
| Reinsurance Recoverable | 176.71M | 169.89M | 162.41M | 129.42M | 114.57M | |
| Other Receivables | 413.00M | 401.26M | 416.21M | 250.19M | 160.75M | 133.91M |
| Property, Plant & Equipment | 480.73M | 382.92M | 355.51M | 335.62M | 356.38M | 399.98M |
| Other Intangible Assets | 91.30M | 104.19M | 117.09M | 51.32M | 64.75M | |
| Other Current Assets | 817.89M | 606.96M | 592.00M | 577.21M | 554.29M | 543.04M |
| Other Long-Term Assets | 102.99M | 77.61M | 72.41M | 155.91M | 109.41M | |
| Total Assets | 2.71B | 2.63B | 2.65B | 2.62B | 2.64B | 2.56B |
| Accrued Expenses | 57.44K | 1.08M | -2.11M | -3.47M | 1.95M | |
| Insurance & Annuity Liabilities | 178.41M | 201.80M | 175.37M | 140.50M | 132.76M | 150.78M |
| Unpaid Claims | 87.53M | 60.03M | 35.19M | 30.65M | 37.89M | 37.53M |
| Unearned Premiums | 25.93M | 15.34M | 12.56M | 12.33M | 14.74M | 12.96M |
| Reinsurance Payable | 10.36M | 44.83M | 41.41M | 24.87M | 27.25M | |
| Short-Term Debt | 88.61M | 80.17M | 84.81M | 74.75M | 80.00M | |
| Current Income Taxes Payable | 194.02M | 245.81M | 253.83M | 298.53M | 284.50M | |
| Long-Term Leases | 34.13M | 20.87M | 23.44M | 15.11M | 23.67M | |
| Long-Term Deferred Tax Liabilities | 38.35M | 23.07M | 19.95M | 15.35M | 20.39M | |
| Other Current Liabilities | 559.92M | 33.01M | 23.65M | 18.16M | 26.87M | 13.09M |
| Other Long-Term Liabilities | 1.00 | 140.02M | 182.35M | 184.45M | 128.07M | 4.16M |
| Total Liabilities | 851.78M | 817.51M | 846.71M | 809.21M | 767.25M | 658.08M |
| Common Stock | 766.65M | 766.65M | 766.65M | 766.65M | 766.65M | 766.65M |
| Additional Paid-In Capital | 212.45M | 212.45M | 212.45M | 212.45M | 212.45M | 212.45M |
| Retained Earnings | 799.54M | 745.15M | 743.91M | 744.72M | 785.59M | 787.69M |
| Comprehensive Income & Other | 84.10M | 84.10M | 84.10M | 84.10M | 111.73M | 139.37M |
| Shareholders' Equity | 1.86B | 1.81B | 1.81B | 1.81B | 1.88B | 1.91B |
| Total Liabilities & Equity | 2.71B | 2.63B | 2.65B | 2.62B | 2.64B | 2.56B |
| Filing Date Shares Outstanding | 80.50M | 80.50M | 80.50M | 80.50M | 80.50M | 80.50M |
| Total Common Shares Outstanding | 80.50M | 80.50M | 80.50M | 80.50M | 80.50M | 80.50M |
| Total Debt | 122.74M | 101.03M | 108.25M | 89.87M | 103.67M | |
| Net Cash (Debt) | 643.35M | 495.54M | 562.76M | 667.68M | 837.38M | 929.42M |
| Net Cash Per Share | 7.99 | 6.16 | 6.99 | 8.29 | 10.40 | 11.55 |
| Book Value Per Share | 23.14 | 22.46 | 22.45 | 22.46 | 23.31 | 23.68 |
| Tangible Book Value | 1.86B | 1.72B | 1.70B | 1.69B | 1.83B | 1.84B |
| Tangible Book Value Per Share | 23.14 | 21.33 | 21.15 | 21.00 | 22.67 | 22.87 |
| Land | 119.14M | 119.14M | 119.14M | 119.14M | 119.14M | |
| Buildings | 566.23M | 553.89M | 538.71M | 538.63M | 538.51M | |
| Machinery | 199.23M | 188.33M | 174.22M | 175.48M | 179.95M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 79.88M | 77.90M | 75.86M | 52.49M | 74.57M | 157.56M |
| Depreciation & Amortization | 27.95M | 7.07M | 18.18M | 21.33M | 33.58M | 36.34M |
| Other Amortization | 12.90M | 12.90M | ||||
| Change in Insurance Reserves / Liabilities | -2.66M | 24.84M | 4.53M | -7.23M | 357.44K | -22.10M |
| Change in Other Net Operating Assets | 5.26M | -14.34M | -129.00M | -15.76M | 49.90M | 25.90M |
| Other Operating Activities | -8.08M | -10.07M | 60.72M | -17.32M | -33.05M | -3.82M |
| Operating Cash Flow | 114.97M | 97.91M | 30.10M | 33.45M | 125.21M | 193.85M |
| Capital Expenditures | -38.81M | -24.31M | -29.32M | -2.20M | -1.34M | -68.84M |
| Sale of Property, Plant & Equipment | 1.52M | 5.70M | 1.05M | |||
| Investment in Securities | -58.06M | -46.57M | 6.69M | -100.37M | -161.90M | -74.36M |
| Other Investing Activities | -25.05M | -23.60M | -34.13M | 6.52M | 3.17M | 3.79M |
| Investing Cash Flow | -121.92M | -94.47M | -56.76M | -94.53M | -154.38M | -138.36M |
| Short-Term Debt Issued | 8.45M | |||||
| Total Debt Issued | 21.98M | 8.45M | ||||
| Total Debt Repaid | 4.71M | -12.83M | -13.32M | -12.61M | -12.13M | |
| Lease Payments | 4.71M | -13.32M | -12.61M | -12.13M | ||
| Net Debt Issued (Repaid) | 26.69M | 8.45M | -12.83M | -13.32M | -12.61M | -12.13M |
| Common Dividends Paid | -56.92M | -57.40M | -72.65M | -75.74M | -62.89M | -76.67M |
| Other Financing Activities | -1.17M | -1.19M | -1.79M | |||
| Financing Cash Flow | -30.22M | -48.96M | -85.48M | -90.22M | -76.68M | -90.58M |
| Miscellaneous Cash Flow Adjustments | 1.00 | 1.00 | ||||
| Net Cash Flow | -37.17M | -45.52M | -112.14M | -151.31M | -105.84M | -35.08M |
| Free Cash Flow | 76.16M | 73.60M | 771.79K | 31.25M | 123.87M | 125.01M |
| Free Cash Flow Margin | 12.65% | 11.67% | 0.12% | 6.51% | 29.99% | 23.86% |
| Free Cash Flow Per Share | 0.95 | 0.91 | 0.01 | 0.39 | 1.54 | 1.55 |
| Levered Free Cash Flow | 70.28M | 16.82M | -108.77M | -128.62M | 56.15M | 46.29M |
| Unlevered Free Cash Flow | 70.28M | 16.82M | -108.77M | -128.62M | 56.15M | 46.29M |
| Free Cash Flow After Leases | 80.87M | 73.60M | 771.79K | 17.93M | 111.26M | 112.89M |
| Cash Interest Paid | 1.17M | 1.19M | 1.79M | |||
| Cash Income Tax Paid | 59.99M | 78.79M | 25.98M | 21.89M | 15.52M | 27.12M |
| Change in Working Capital | 2.33M | 10.12M | -124.67M | -23.05M | 50.12M | 3.77M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.17B | 1.62B | 1.74B | 2.09B | 2.03B | 3.43B |
| Enterprise Value | 1.53B | 1.02B | 1.00B | 1.19B | 1.11B | 2.40B |
| PE Ratio | 27.64 | 20.77 | 22.94 | 58.25 | 27.25 | 21.75 |
| PS Ratio | 3.61 | 2.57 | 2.67 | 4.35 | 4.92 | 6.54 |
| PB Ratio | 1.17 | 0.90 | 0.96 | 1.15 | 1.08 | 1.80 |
| P/FCF Ratio | 28.54 | 21.98 | 2,254.90 | 66.74 | 16.40 | 27.41 |
| P/OCF Ratio | 18.90 | 16.52 | 57.83 | 62.35 | 16.23 | 17.68 |
| EV/Sales Ratio | 2.54 | 1.61 | 1.54 | 2.48 | 2.69 | 4.59 |
| EV/EBITDA Ratio | 11.19 | 7.69 | 6.71 | 13.27 | 10.11 | 10.36 |
| EV/EBIT Ratio | 12.24 | 8.12 | 7.64 | 17.40 | 12.71 | 11.49 |
| EV/FCF Ratio | 20.09 | 13.82 | 1,295.99 | 38.10 | 8.99 | 19.24 |
| Debt / Equity Ratio | 0.07 | 0.06 | 0.06 | 0.05 | 0.05 | |
| Debt / EBITDA Ratio | 0.93 | 0.68 | 1.21 | 0.74 | 0.42 | |
| Debt / FCF Ratio | 1.67 | 130.91 | 3.46 | 0.72 | 0.83 | |
| Net Debt / Equity Ratio | -0.34 | -0.27 | -0.31 | -0.37 | -0.45 | -0.49 |
| Net Debt / EBITDA Ratio | -4.71 | -3.75 | -3.77 | -7.44 | -7.60 | -4.00 |
| Net Debt / FCF Ratio | -8.45 | -6.73 | -729.17 | -21.37 | -6.76 | -7.43 |
| Quick Ratio | 2.10 | 2.15 | 2.12 | 2.28 | 2.25 | 2.51 |
| Current Ratio | 3.32 | 4.49 | 4.16 | 4.02 | 3.74 | 3.99 |
| Asset Turnover | 0.23 | 0.24 | 0.25 | 0.18 | 0.16 | 0.21 |
| Return on Equity (ROE) | 4.29% | 4.31% | 4.20% | 2.85% | 3.94% | 8.38% |
| Return on Assets (ROA) | 2.91% | 2.96% | 3.10% | 1.62% | 2.10% | 5.23% |
| Return on Invested Capital (ROIC) | 4.46% | 4.23% | 4.07% | 2.80% | 3.82% | 8.29% |
| Earnings Yield | 3.62% | 4.81% | 4.36% | 2.52% | 3.67% | 4.60% |
| FCF Yield | 3.50% | 4.55% | 0.04% | 1.50% | 6.10% | 3.65% |
| Dividend Yield | 1.76% | 2.37% | 4.41% | 3.68% | 3.77% | 2.24% |
| Payout Ratio | 71.25% | 73.69% | 95.76% | 144.29% | 84.34% | 48.66% |
| Total Shareholder Return | -9.07% | 2.37% | 4.41% | 3.68% | 3.77% | 2.24% |