Care Health Insurance Ltd (Religare) - Unlisted Shares
Fundamentals
- Current Price
- ₹150
- Market Cap
- ₹14,612.77 Cr
- ISIN
- INE119J01011
- Face Value
- ₹10
- P/E Ratio
- 94.34
- EPS
- 1.59
- P/B Ratio
- 6.27
- Book Value
- 23.93
- Debt / Equity Ratio
- 0.00
Key Financials
Profit & Loss
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Net Earned Premium | 6347.22 | 5328.67 | 3932.04 | 2510.84 | 1729.47 | 1508.45 | 1091.20 |
| Growth % | 19% | 35.52% | 56.60% | 45.18% | 14.65% | 38.24% | 0 |
| Expenses | 1237.58 | 1265.78 | 1329.36 | 1077.92 | 728.20 | 667.85 | 558.30 |
| Growth % | -2% | -4.78% | 23.33% | 48.03% | 9.04% | 19.62% | 0 |
| Operating Profit | 5109.64 | 4062.89 | 2602.68 | 1432.92 | 1001.27 | 840.60 | 532.90 |
| Op. Profit Margin % | 81% | 76.25% | 66.19% | 57.07% | 57.89% | 55.73% | 48.84% |
| Other Income | 551 | 491.69 | 284.17 | 190.65 | 166.06 | 119.52 | 95.27 |
| Net Incurred Claims | 4,096 | 3074.27 | 2116.18 | 1633.73 | 953.82 | 891.94 | 602.67 |
| Net Commision | 1356.8 | 1070.24 | 442.71 | 110.17 | 26.61 | -22.17 | -31.42 |
| Premium Deficiency | 0 | 0 | 0 | -135.88 | 111.42 | 24.46 | 0 |
| Profit Before Tax | 208.20 | 410.07 | 327.96 | 15.55 | 75.48 | 65.89 | 56.92 |
| Tax | 53 | 105.17 | 82.12 | 4.05 | 26.74 | 0.24 | 0 |
| Tax % | 25% | 25.65% | 25.04% | 26.05% | 35.43% | 0.36% | 0.00% |
| Profit After Tax | 155.18 | 304.90 | 245.84 | 11.50 | 102.22 | 65.65 | 56.92 |
| Growth % | -49% | 24.02% | 2037.74% | -88.75% | 55.70% | 15.34% | 0 |
| PAT % | 2% | 5.72% | 6.25% | 0.46% | 5.91% | 4.35% | 5.22% |
| Diluted EPS | 1.6 | 3.18 | 2.64 | 0.13 | 1.24 | 0.90 | 0.86 |
Company Financials
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Equity Capital | 974.18 | 972.04 | 942.23 | 908.57 | 841.04 | 727.95 | 688.55 |
| Reserves | 1397.97 | 1225.70 | 801.29 | 380.18 | 289.44 | 53.03 | 12.33 |
| Total Equity | 2372.15 | 2197.74 | 1743.52 | 1288.74 | 1130.49 | 780.98 | 700.88 |
| Borrowings | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Sources of Funds | 2372.15 | 2197.74 | 1743.52 | 1288.74 | 1130.49 | 780.98 | 700.88 |
| Investments | 8399.44 | 6632.92 | 5076.28 | 3566.08 | 2635.01 | 1775.73 | 1301.66 |
| Loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Fixed Assets | 33.85 | 41.90 | 56.18 | 55.07 | 49.00 | 54.52 | 56.41 |
| Deferred Tax Asset | 44.02 | 41.23 | 46.81 | 39.95 | 42.16 | 0.00 | 0.00 |
| Cash and Bank Balances | 193.46 | 95.85 | 99.81 | 78.69 | 45.68 | 55.86 | 40.24 |
| Other Assets | 350.12 | 301.08 | 237.31 | 157.48 | 210.28 | 114.13 | 173.49 |
| Sub Total (A) | 543.58 | 396.92 | 337.12 | 236.17 | 255.96 | 169.99 | 213.73 |
| Current Liabilities | 3343.10 | 2002.56 | 1559.45 | 1161.19 | 847.29 | 681.19 | 544.07 |
| Provisions | 3305.64 | 2912.67 | 2213.42 | 1529.17 | 1097.68 | 733.63 | 588.05 |
| Sub Total (B) | 6648.74 | 4915.23 | 3772.88 | 2690.36 | 1944.97 | 1414.81 | 1132.12 |
| Net Current Assets (A-B) | -6105.16 | -4518.31 | -3435.76 | -2454.19 | -1689.01 | -1244.83 | -918.39 |
| Debit Bal P/L | 0.00 | 0.00 | 0.00 | 81.84 | 93.33 | 195.56 | 261.21 |
| Total Application of Funds | 2372.15 | 2197.74 | 1743.52 | 1288.74 | 1130.49 | 780.98 | 700.88 |
Shareholding Pattern
- Religare Enterprise Limited
- 62.84%%
- Trishikhar Ventures LLP
- 15.82%%
- Union Bank of India
- 5.27%%
- Others
- 16.06%%
Strengths & Weaknesses
Strengths
- Experienced senior management: A team of seasoned professionals in insurance, risk, actuarial, and finance leads the company. Their extensive experience, combined with the strategic guidance of the board and promoters, greatly benefits the company.
- Enhancing competitive standing in industry: The company's gross direct premium grew by 52% in fiscal 2022 to Rs 3,881 crore and sustained a 38% increase in the first nine months of 2023.
- Strong risk management and high-quality investments: Care Health's robust risk management framework addresses various risks, including insurance, strategic, operational, investment, and cyber security.
Weaknesses
- Only one product: As a standalone health insurer, Care Health faces inherent monoline risks compared to general insurers.
- Underwriting performance can improve: Care Health's underwriting performance showed room for improvement in fiscal 2022, with a combined ratio increasing to 103.3% from 92.9% in the previous year. The underwriting deficit amounted to Rs 304 crore, compared to a surplus of Rs 28 crore in the prior fiscal.
About Care Health Insurance Ltd (Religare)
Established in 2007, Care Health Insurance Company Ltd (Care Health) is a standalone health insurer in India, offering health, travel, and personal accident insurance services to corporate employees, individuals, and small to medium enterprises.
Board of Directors
- Mr. Anuj Gulati - Managing Director & CEO
- Mr. Pankaj Gupta - Chief Finance Officer
- Mr. Ajay Shah - Chief Marketing Officer
- Mr. Manish Dodeja - Chief Risk Officer
- Mr. Kartikeya Dhruv Kaji - Non-Executive Director
- Mr. Sunish Sharma - Non-Executive Director
Frequently Asked Questions
- Is there any lock in period for Care Health Insurance Ltd unlisted shares?
- The lock-in period for Care Health Insurance Ltd Unlisted Shares differs based on the investor category, as per SEBI regulations:
● Venture Capital Funds and Foreign Venture Capital Investors (FVCIs):
A lock-in period of 6 months from the date of acquisition of the shares.
● Alternative Investment Funds – Category II (AIF-II): No lock-in period is applicable.
● Other investors (including retail investors, high net-worth individuals (HNIs), and body corporates):
A lock-in period of 6 months from the date of IPO listing of Care Health Insurance Ltd.
These norms were introduced by SEBI in August 2021, reducing the earlier lock-in requirement from one year to six months. The change was aimed at improving liquidity and encouraging investor participation in companies preparing for public listings. Since then, interest in pre-IPO investments has increased, with investors exploring opportunities to participate in companies ahead of their potential listing. - How much long term capital gains tax do I have to pay on Care Health Insurance Ltd unlisted shares?
- Long-Term Capital Gains (LTCG) on Unlisted Shares in India arise when such shares are sold after being held for a period of more than two years. The key aspects of LTCG taxation on Care Health Insurance Ltd unlisted shares are outlined below:
1. Tax Rate
Earlier, LTCG on unlisted shares was taxed at 20% with indexation benefits. However, as per Union Budget 2024, the tax structure has been revised. For transfers made on or after 23rd July 2024, LTCG on unlisted shares is taxed at a flat rate of 12.5%.
2. Indexation Benefit
Previously, investors could avail indexation benefits to adjust the purchase price for inflation, thereby reducing taxable gains.
This indexation benefit has been removed under Budget 2024 for unlisted shares transferred on or after 23rd July 2024.
3. Importance for Investors
Understanding LTCG taxation is important for both retail investors and High Net-Worth Individuals (HNIs), as it directly impacts investment returns, exit planning, and overall tax strategy.
4. Calculation Method
For eligible transactions after 23rd July 2024, LTCG will be calculated at a flat tax rate of 12.5% on the capital gains, without indexation.
5. Applicability
LTCG tax is applicable when unlisted shares are held for more than 24 months before being sold.
6. Relevance
These tax provisions are particularly relevant for investors in the unlisted share market who are considering exiting their investments after a long-term holding period. - How do I start investing in Care Health Insurance Ltd unlisted shares through InCred Money?
- Buying Care Health Insurance Ltd Unlisted Shares on InCred Money is quick, seamless, and fully digital.
Step 1: Create Your Account
Sign up using your mobile number and email ID.
Complete your KYC by submitting your PAN, Aadhaar, bank account, and demat account details. Once submitted, your KYC is reviewed and approved.
Step 2: Select & Buy Shares
Browse and select Care Health Insurance Ltd from our Unlisted Shares list and place your order.
Step 3: Share Transfer
Based on the settlement period for the shares noted on the platform, the purchased shares are transferred and reflected in both your InCred Money portfolio and your demat account. - What documents are needed to invest in Care Health Insurance Ltd unlisted shares?
- To invest in Care Health Insurance Ltd Unlisted Shares on InCred Money, you need to complete your KYC verification by submitting the following documents:
● PAN Card
● Aadhaar Card
● Bank account details
● Demat account details
Once your KYC is successfully completed and approved, you can start investing in unlisted shares on the platform.
