Go Digit General Insurance Ltd

Meeting Details

• Date and time: Friday, 28 August 2026, 12:00 Noon–7:00 p.m. IST.
• Type and mode: Physical in-person meeting.
• Event/organiser: Analysts / Institutional Investors meet.
• Participants: Group of Analysts / Institutional Investors.
• Purpose: Schedule and discuss the meet.

AGM Details

• AGM date/time/mode: 18 August 2026, 04:00 PM, VC/OAVM.
• Remote e-voting window: 14–17 August 2026; on-site voting 15 minutes post-AGM.

Resolutions and outcomes

• Resolution 1 (Ordinary): Adopt audited financials for FY2026; approved with 99.99% in favour.
• Resolution 2 (Ordinary): Reappoint Gopalakrishnan Soundarajan; approved with 96.47% in favour.

Director changes

• Gopalakrishnan Soundarajan reappointed as director; continues term after rotation.

AGM details

• Date and mode: 18 August 2026 via VC/OAVM.
• Start and end times: 4:05 PM to 4:41 PM.
• Quorum: 41 members attended.
• Deemed venue: registered office.

Resolutions

• Adopt audited financial statements for FY ending 31 March 2026.
• Re-appoint director by rotation: Gopalakrishnan Soundarajan.

Voting and results

• Remote e-voting conducted 14–17 August 2026; results to be declared.
• Results to be filed with stock exchanges and placed on company site.

Directors changes

• Director retirement by rotation; re-appointment sought for Gopalakrishnan Soundarajan.

Auditors

• Joint statutory auditors expressed unmodified opinions; no changes disclosed.

Other material approvals

• No material related-party transactions or ESOP approvals disclosed.

Scheme details

• Application under 230–232 seeking directions for amalgamation.
• Board approved the Scheme on 19.12.2025.
• Transferor engages IT consultancy; Transferee operates general and health insurance.
• Rationale: simplify structure, reduce shareholding layers, and improve capital access.
• First Applicant: authorised Rs 14,00,00,00,000.
• First Applicant: issued equity capital Rs 4,62,93,310.
• First Applicant: issued preference capital Rs 7,80,00,00,000.
• First Applicant: subscribed and paid-up equity Rs 1,02,29,340.
• First Applicant: paid-up preference Rs 7,80,00,00,000.
• Second Applicant: authorised Rs 10,00,00,00,000.
• Second Applicant: issued and paid-up Rs 9,24,49,90,310.
• ESOPs: 76,545 equity shares allotted post-31.03.2026.
• Exchange ratio: 2,62,589 transferee shares per 1,000 transferor shares.
• CCPS exchange: 55,925 and 36,694 transferee shares per 1,000 CCPS.
• Transferor equity shares in transferee cancelled on effectiveness.
• Meetings: equity shareholders of transferor dispensed; transferee meeting via VC/OAVM within 90 days.
• BSE/NSE letters dated 22.04.2026: No Objection for filing Scheme.
• Unsecured creditors: Transferor 7 creditors Rs 83,32,714.
• Unsecured creditors: Transferee 312 creditors Rs 8,00,99,56,916.
• No secured creditors for either company as of 31.03.2026.
• Appointed Date fixed as 'Effective Date'.
• Order pronounced: 13.08.2026; CA(CAA)/125/2026 allowed.
• Regulatory notices to regulators; affidavits of service due within 10 days.
• Compliance reports to be filed within 10 days after notices.

Meeting Details

• Date and time: Friday, 14 August 2026 at 10:00 a.m. IST.
• Type/Mode: group meeting with analysts/institutional investors; in-person in Mumbai.
• Event/organiser: Emkay Confluence 2026.
• Purpose: reiterate Q1 FY2026-27 earnings call details.
• Availability: Q1 FY2026-27 investor presentation will be published on the IR site.

Financial Performance

• Profit after tax (NEP, DAC; no MTM/discounting): INR 190 crores.
• Combined ratio NEP with DAC: 107.2%; without discounting: 104.3%.
• Net earned premium rose 8% to INR 2,007 crores.
• AUM rose about INR 500 crores; asset allocation to AUM 9.5%.
• Equity unrealized gains INR 268 crores; fixed-income gains INR 220 crores.
• New 2-wheeler premium INR 546 crores; growth 26% in Q1.
• Long-term advance premium INR 3,387 crores; motor INR 2,879 crores; non-motor INR 508 crores.
• IGAAP net worth INR 4,674 crores; IFRS net worth INR 8,200 crores.
• Solvency 2.43x; RBC guidelines awaited.

Operating Update

• Motor market share declined to 5.6% in Q1 FY27.
• CV business now ~23-24% of motor book.
• Fire loss ratio de-grown 37%; industry around -27% to -28%.
• OD loss ratio rose to 73.3% in Q1; corrective actions Feb–May.
• Group health PA claims inflated due to a large bank-driven PA policy.
• GWP declined 8%; ex-health/crop inward reinsurance growth near -2%.
• Motor overall flat; 2-wheeler up 26%; CV down 27%.
• Retention increased; mix shift to higher retention lines.
• Dividend policy tied to RBC norms; potential dividend in Q4 if solvency supports.

Investments and Capital Allocation

• Equity allocation 9.5% of AUM; unrealized equity gains INR 268 crores.
• Fixed income unrealized gains around INR 220 crores.
• Duration moved 4.5 to 4.9; reinvestment yield 7.8%.
• Rates rise beyond 7.75%; extend duration to 5.2%.

Q&A Highlights

• Question on structural growth; profitability-first approach, not chasing growth.
• Question on TP reserve impact of Supreme Court rulings; conservative reserving, ongoing judgments.
• Question on large fire/marine/engineering losses; large claim; reinsurers' treatment.
• Question on RBC norms and dividend policy; RBC pending; possible Q4 dividend.
• Question on NEP retention vs EOM growth; mix effects; profitability-first approach.
• Question: 83% TP compromise; 17% court; no MAD; reserves based on frequency and legal inflation.
• IRDAI interview suggests reforms; management supportive if customer-friendly.
• IFRS publishing for non-life results; aims to ease comparisons.