DSE : SICL
Sikder Insurance Company Limited — Financial statements
Fire, Marine, and Casualty Insurance · Bangladesh
Last price 30.5 BDT (At close: Oct 28, 2026) · Market cap 1.22B
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Financial statements
Income statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Premiums & Annuity Revenue | 314.34M | 310.90M | 291.82M | 202.42M | 118.67M | 106.80M |
| Total Interest & Dividend Income | 36.13M | 32.52M | 22.21M | 12.91M | 14.34M | 88.13M |
| Gain (Loss) on Sale of Investments | -371.94K | -587.06K | 354.87K | 111.10K | ||
| Other Revenue | 15.62M | 15.62M | 15.70M | 48.10M | 18.99M | 25.02M |
| Total Revenue | 365.72M | 358.45M | 330.09M | 263.43M | 152.01M | 220.06M |
| Policy Benefits | 124.11M | 106.71M | 91.13M | 70.07M | 7.88M | 47.85M |
| Policy Acquisition & Underwriting Costs | 62.25M | 48.79M | 45.28M | 37.06M | 6.92M | 15.26M |
| Depreciation & Amortization | 5.20M | 4.90M | 14.27M | 4.26M | 4.94M | 6.03M |
| Selling, General & Administrative | 100.17M | 121.25M | 111.44M | 112.30M | 85.82M | 81.30M |
| Other Operating Expenses | 1.87M | 1.88M | 733.36K | 100.00K | 100.00K | |
| Total Operating Expenses | 293.61M | 283.52M | 262.85M | 224.11M | 105.91M | 150.44M |
| Operating Income | 72.11M | 74.93M | 67.24M | 39.32M | 46.11M | 69.62M |
| Other Non Operating Income (Expenses) | 27.00M | -638.50K | -5.63M | -409.20K | -335.00K | -890.40K |
| EBT Excluding Unusual Items | 99.11M | 74.29M | 61.62M | 38.91M | 45.77M | 68.73M |
| Other Unusual Items | -780.40K | -780.40K | -20.00K | |||
| Pretax Income | 98.33M | 73.51M | 61.60M | 38.91M | 45.77M | 68.73M |
| Income Tax Expense | 17.98M | 19.18M | 11.67M | 7.84M | 14.97M | 15.38M |
| Net Income | 80.35M | 54.33M | 49.92M | 31.07M | 30.81M | 53.35M |
| Preferred Dividends & Other Adjustments | 1.85M | 2.18M | 3.27M | |||
| Net Income to Common | 80.35M | 54.33M | 49.92M | 29.21M | 28.63M | 50.08M |
| Shares Outstanding (Basic) | 40.00M | 40.00M | 38.99M | 24.00M | 24.00M | 24.00M |
| Shares Outstanding (Diluted) | 40.00M | 40.00M | 38.99M | 24.00M | 24.00M | 24.00M |
| EPS (Basic) | 2.01 | 1.36 | 1.28 | 1.22 | 1.19 | 2.09 |
| EPS (Diluted) | 2.01 | 1.36 | 1.28 | 1.22 | 1.19 | 2.09 |
| Free Cash Flow | 244.52M | 247.06M | 34.60M | 52.62M | 64.26M | 74.11M |
| Free Cash Flow Per Share | 6.11 | 6.18 | 0.89 | 2.19 | 2.68 | 3.09 |
| Operating Margin | 19.72% | 20.90% | 20.37% | 14.92% | 30.33% | 31.64% |
| Profit Margin | 21.97% | 15.16% | 15.12% | 11.09% | 18.83% | 22.75% |
| Free Cash Flow Margin | 66.86% | 68.92% | 10.48% | 19.97% | 42.28% | 33.68% |
| EBITDA | 77.31M | 79.83M | 73.07M | 43.58M | 51.05M | 75.66M |
| EBITDA Margin | 21.14% | 22.27% | 22.14% | 16.54% | 33.58% | 34.38% |
| D&A For EBITDA | 5.20M | 4.90M | 5.83M | 4.26M | 4.94M | 6.03M |
| EBIT | 72.11M | 74.93M | 67.24M | 39.32M | 46.11M | 69.62M |
| EBIT Margin | 19.72% | 20.90% | 20.37% | 14.92% | 30.33% | 31.64% |
| Effective Tax Rate | 18.29% | 26.10% | 18.95% | 20.15% | 32.70% | 22.38% |
Balance sheet
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Investments in Debt Securities | 25.00M | 25.00M | 25.00M | 25.00M | 25.00M | |
| Investments in Equity & Preferred Securities | 863.79M | 846.03M | 805.65M | 1.32B | 1.19B | 1.06B |
| Other Investments | 25.00M | |||||
| Total Investments | 888.79M | 871.03M | 830.65M | 1.34B | 1.22B | 1.08B |
| Cash & Equivalents | 304.78M | 303.83M | 297.62M | 190.45M | 196.63M | 220.73M |
| Reinsurance Recoverable | 191.22M | 224.88M | 228.23M | 129.40M | 32.60M | 35.19M |
| Other Receivables | 122.45M | 6.27M | 5.32M | 2.36M | 2.31M | 2.30M |
| Property, Plant & Equipment | 54.01M | 55.01M | 64.35M | 70.09M | 46.75M | 64.79M |
| Other Intangible Assets | 75.44K | 879.00 | 3.52K | 7.03K | 14.06K | |
| Other Current Assets | 1.22M | 117.95M | 109.74M | 75.79M | 66.81M | 76.58M |
| Other Long-Term Assets | 2.00 | 2.00 | -1.00 | 1.00 | ||
| Total Assets | 1.56B | 1.58B | 1.54B | 1.81B | 1.56B | 1.48B |
| Accounts Payable | 114.96M | |||||
| Accrued Expenses | 7.86M | 22.71M | 21.63M | 29.35M | 20.05M | 11.33M |
| Insurance & Annuity Liabilities | 36.32M | 126.74M | 116.76M | 80.99M | 47.46M | 42.72M |
| Unpaid Claims | 247.01M | 202.68M | 175.93M | 131.79M | 97.94M | 96.32M |
| Unearned Premiums | 40.52M | 41.96M | 43.81M | 23.68M | 14.77M | 26.16M |
| Reinsurance Payable | 46.57M | 27.11M | 2.75M | 42.07M | 12.21M | 11.74M |
| Current Income Taxes Payable | 94.25M | 79.20M | 63.20M | 46.08M | 38.46M | 25.03M |
| Long-Term Debt | 387.05M | 387.05M | 615.24M | 676.08M | 734.88M | 823.25M |
| Long-Term Leases | 30.94M | 30.88M | 39.54M | 51.37M | 25.59M | 39.41M |
| Long-Term Deferred Tax Liabilities | -15.36M | -15.33M | -22.56M | 38.46M | 25.50M | 10.72M |
| Other Current Liabilities | 153.54K | 118.29M | 649.06K | 3.51M | 58.58K | |
| Other Long-Term Liabilities | 1.00 | -1.00 | ||||
| Total Liabilities | 990.28M | 1.02B | 1.06B | 1.12B | 1.02B | 1.09B |
| Common Stock | 400.00M | 400.00M | 400.00M | 240.00M | 240.00M | 240.00M |
| Retained Earnings | 278.90M | 283.66M | 241.17M | 149.02M | 119.80M | 91.18M |
| Comprehensive Income & Other | -106.70M | -125.90M | -162.23M | 300.54M | 185.84M | 66.63M |
| Shareholders' Equity | 572.20M | 557.76M | 478.94M | 689.56M | 545.64M | 397.80M |
| Total Liabilities & Equity | 1.56B | 1.58B | 1.54B | 1.81B | 1.56B | 1.48B |
| Filing Date Shares Outstanding | 40.00M | 40.00M | 43.83M | 24.00M | 24.00M | 24.00M |
| Total Common Shares Outstanding | 40.00M | 40.00M | 43.83M | 24.00M | 24.00M | 24.00M |
| Total Debt | 417.99M | 417.93M | 654.78M | 727.45M | 760.48M | 862.66M |
| Net Cash (Debt) | -113.21M | -114.10M | -357.16M | -537.01M | -563.84M | -641.93M |
| Net Cash Per Share | -2.83 | -2.85 | -9.16 | -22.38 | -23.49 | -26.75 |
| Book Value Per Share | 14.30 | 13.94 | 10.93 | 28.73 | 22.74 | 16.58 |
| Tangible Book Value | 572.20M | 557.69M | 478.94M | 689.56M | 545.64M | 397.79M |
| Tangible Book Value Per Share | 14.30 | 13.94 | 10.93 | 28.73 | 22.73 | 16.57 |
| Machinery | 31.63M | 27.90M | 24.51M | 22.70M | 22.20M |
Cash flow statement
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Net Income | 80.35M | 54.33M | 49.92M | 31.07M | 30.81M | 53.35M |
| Depreciation & Amortization | 15.75M | 15.45M | 14.27M | 22.39M | 22.55M | 22.44M |
| Other Amortization | 3.52K | |||||
| Change in Accounts Receivable | 12.31M | 12.31M | 47.12M | |||
| Change in Unearned Revenue | -1.86M | -1.86M | 22.84M | 8.58M | -11.06M | |
| Change in Insurance Reserves / Liabilities | 51.11M | 51.11M | -101.73M | 63.70M | 2.08M | |
| Change in Other Net Operating Assets | 131.73M | 131.73M | 19.87M | -47.81M | 32.71M | |
| Other Operating Activities | -42.77M | -12.90M | -2.58M | -20.31M | -11.86M | 11.63M |
| Operating Cash Flow | 247.80M | 251.35M | 48.97M | 54.43M | 64.99M | 87.42M |
| Capital Expenditures | -3.28M | -4.30M | -14.38M | -1.82M | -720.87K | -13.31M |
| Investment in Securities | -1.23M | -807.80K | -33.90M | |||
| Investing Cash Flow | -4.51M | -5.11M | -48.28M | -1.82M | -720.87K | -13.31M |
| Total Debt Repaid | -228.19M | -228.19M | -60.85M | -58.80M | -88.36M | -75.41M |
| Net Debt Issued (Repaid) | -228.19M | -228.19M | -60.85M | -58.80M | -88.36M | -75.41M |
| Issuance of Common Stock | 160.00M | |||||
| Common Dividends Paid | -8.17M | -11.85M | ||||
| Financing Cash Flow | -236.36M | -240.03M | 99.15M | -58.80M | -88.36M | -75.41M |
| Miscellaneous Cash Flow Adjustments | 1.00 | -1.00 | ||||
| Net Cash Flow | 6.94M | 6.21M | 99.85M | -6.18M | -24.10M | -1.30M |
| Free Cash Flow | 244.52M | 247.06M | 34.60M | 52.62M | 64.26M | 74.11M |
| Free Cash Flow Margin | 66.86% | 68.92% | 10.48% | 19.97% | 42.28% | 33.68% |
| Free Cash Flow Per Share | 6.11 | 6.18 | 0.89 | 2.19 | 2.68 | 3.09 |
| Levered Free Cash Flow | 236.14M | 32.34M | 75.80M | 90.92M | ||
| Unlevered Free Cash Flow | 236.14M | 32.34M | 75.80M | 90.92M | ||
| Cash Income Tax Paid | 15.02M | 13.54M | 5.81M | 1.50M | 7.04M | 25.53M |
| Change in Working Capital | 194.48M | 194.48M | -12.64M | 21.29M | 23.49M |
Ratios
Fiscal year January - December; amounts in BDT.
| TTM | FY2025 | FY2024 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.29B | 740.00M | 844.00M | |||
| Enterprise Value | 1.41B | 1.10B | 1.32B | |||
| PE Ratio | 16.08 | 13.62 | 16.91 | |||
| PS Ratio | 3.53 | 2.06 | 2.56 | |||
| PB Ratio | 2.26 | 1.33 | 1.76 | |||
| P/FCF Ratio | 5.28 | 3.00 | 24.40 | |||
| P/OCF Ratio | 5.21 | 2.94 | 17.23 | |||
| EV/Sales Ratio | 3.84 | 3.08 | 4.00 | |||
| EV/EBITDA Ratio | 15.99 | 13.81 | 18.05 | |||
| EV/EBIT Ratio | 19.49 | 14.72 | 19.61 | |||
| EV/FCF Ratio | 5.75 | 4.46 | 38.12 | |||
| Debt / Equity Ratio | 0.73 | 0.75 | 1.37 | 1.05 | 1.39 | 2.17 |
| Debt / EBITDA Ratio | 4.76 | 4.62 | 8.03 | 11.79 | 11.08 | 9.37 |
| Debt / FCF Ratio | 1.71 | 1.69 | 18.93 | 13.83 | 11.83 | 11.64 |
| Net Debt / Equity Ratio | 0.20 | 0.20 | 0.75 | 0.78 | 1.03 | 1.61 |
| Net Debt / EBITDA Ratio | 1.46 | 1.43 | 4.89 | 12.32 | 11.04 | 8.48 |
| Net Debt / FCF Ratio | 0.46 | 0.46 | 10.32 | 10.21 | 8.77 | 8.66 |
| Quick Ratio | 0.76 | 0.62 | 0.97 | 0.69 | 1.07 | 1.29 |
| Current Ratio | 1.12 | 1.33 | 2.08 | 1.44 | 1.63 | 1.96 |
| Asset Turnover | 0.23 | 0.16 | 0.10 | 0.15 | ||
| Return on Equity (ROE) | 15.29% | 10.48% | 5.03% | 6.53% | 12.66% | |
| Return on Assets (ROA) | 3.01% | 1.46% | 1.89% | 2.90% | ||
| Return on Invested Capital (ROIC) | 6.00% | 5.25% | 4.27% | 2.31% | 2.42% | 4.15% |
| Earnings Yield | 6.22% | 7.34% | 5.92% | |||
| FCF Yield | 18.93% | 33.39% | 4.10% | |||
| Payout Ratio | 10.17% | 21.80% | ||||
| Buyback Yield / Dilution | 5.15% | -2.59% | -62.47% | -0.04% |