Sikder Insurance profit surges 310% in Jan-Mar

Sikder Insurance Company Limited reported a sharp 310% year-on-year increase in profit for the first quarter of 2026, driven by a significant rise in earnings per share (EPS), according to unaudited financial statements.

The insurer posted an EPS of Tk0.86 for the January-March period, up from Tk0.21 in the same quarter of the previous year, as disclosed in a filing with the Dhaka Stock Exchange (DSE) yesterday (15 June).

Following the strong earnings announcement, the company's share price rose 2.58% to close at Tk39.80.

The company's net asset value (NAV) per share stood at Tk15.86 as of 31 March 2026, compared to Tk14.15 in December 2025, indicating an improvement in asset strength over the period.

However, net operating cash flow per share (NOCFPS) declined to Tk0.09 from Tk0.18 a year earlier.

In a separate disclosure, Sikder Insurance's board recommended a 10% cash dividend for general shareholders for the financial year 2025.

Sponsors and directors, who collectively hold 2.40 crore shares, will not receive the dividend. The total payout for general shareholders amounts to Tk1.60 crore.

For the year ended 31 December 2025, the company reported an annual EPS of Tk1.36, up from a restated Tk1.25 in 2024. NOCFPS also improved significantly to Tk6.28, compared to Tk1.22 in the previous year.

The company has scheduled its annual general meeting (AGM) for 27 September, to be held under a hybrid system. The record date for dividend entitlement is 23 July.

Sikder Insurance, listed on the stock exchange in 2024, is currently trading under the 'B' category. The company is a concern of the Sikder Group, with seven of its nine board members belonging to the Sikder family.