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Company Overview
Care Health Insurance, formerly known as Religare Health Insurance, is a prominent player in the Indian health insurance sector. Established with the aim of providing comprehensive health coverage, the company has carved a niche for itself in the market.
Company Background:
- Founded as Religare Health Insurance, the company rebranded to Care Health Insurance in 2020.
- It is a subsidiary of Care Health Investments, which is part of the Care Group of Companies.
Products and Services:
- Care Health Insurance offers a wide range of health insurance products tailored to meet the diverse needs of individuals, families, and businesses.
- Their offerings include individual health insurance, family floater plans, critical illness cover, and group health insurance for corporates.
Network Infrastructure
- Branches: 248
- Agents: 251,000 individual agents, 149 corporate agents
- Hospital Partnerships: Over 22,900 hospitals
Future Outlook
- Potential Coverage Expansion: Expected to increase 2x to 4x
- Industry Growth Projection: Estimated growth of 4.5x to 7.6x, reaching INR 1.6 to 2.6 trillion
Financial Highlights (FY20-21)
| Metric | FY21 Value (Rs. Crores) | Growth (%) |
|---|---|---|
| Gross Domestic Premium Income | 2,559 | 29.5 |
| Profit After Tax | 102 | 55.7 |
| Solvency Ratio | 2.45 (above regulatory requirement) | – |
Fundamentals
| Fundamental | Value | Fundamental | Value |
|---|---|---|---|
| Current Price | ₹185 | ROE (%) | 26.01 |
| Debt to Equity | NA | P/B | 18.5 |
| Market Cap (in Cr.) | ₹17,427 | P/E Ratio | 71.15 |
| Face Value | ₹10 | PAN Number | AADCR6281N |
| Book Value | ₹10 | EPS | ₹3.3 |
| ISIN | INE119J01011 | No. of Shares (in Cr.) | 942 |
Promoters & Managements
Profit & Loss Statement
| Metric | 2022 | 2023 |
|---|---|---|
| Gross Written Premium (GWP) | 3880 | 5141 |
| Net Earned Premium (NEP) | 3088 | 4590 |
| Premium Earned | 2510 | 3932 |
| P&L on Sale of Investment | 3.6 | 7 |
| Interest, Dividend and Rent | 446 | 172 |
| Other Revenue | 2 | 414 |
| Total Revenue | 2961.6 | 4525 |
| Claims Incurred | 1633 | 2116 |
| Commission | 110 | 442 |
| Operating Expenses | 1070 | 1322 |
| Others Revenue Account | -135 | 0 |
| Operating Profit | 283.6 | 645 |
| Income from Investment | 59 | 105 |
| Other Income | 0 | 0 |
| Other Expenses | 325 | 420 |
| Profit Before Tax (PBT) | 15 | 327 |
| Tax | 4 | 82 |
| Profit After Tax (PAT) | 11 | 245 |
| Earnings Per Share (EPS) | 0.12 | 2.6 |
Financial Ratios
| Ratio | 2022 | 2023 |
|---|---|---|
| Combined Ratio | 112.07 | 98.68 |
| Net-Loss Ratio | 0.65 | 0.54 |
| Mcap / GWP | 4.33 | 3.3 |
Assets (Amounts in Crores)
| Asset Category | 2022 | 2023 |
|---|---|---|
| Fixed Assets | 94 | 56 |
| Cash and Balances | 78 | 99 |
| Investment - Shareholder | 1105 | 1921 |
| Investment - Policyholder | 2460 | 3155 |
| Advances & Other Assets | 250 | 283 |
| Total Assets | 3987 | 5514 |
Liabilities (Amounts in Crores)
| Liability Category | 2022 | 2023 |
|---|---|---|
| Share Capital | 908.5 | 942 |
| FV | 10 | 10 |
| Reserves and Surplus | 380 | 806 |
| Current Liabilities | 1161 | 1559 |
| Provisions | 1529 | 2213 |
| Other Liabilities | 0 | -6 |
| Total Liabilities | 3978.5 | 5514 |
| Cash Flow Category | 2022 | 2023 |
|---|---|---|
| Premium from Policy-Shareholder | 4695 | 6215 |
| Payment to Re-insurers | 233 | 141 |
| Payment to Co-insurers, net of recovery | 2.6 | -14 |
| Payment of Claims | -2073 | -2480 |
| Payment of Commission | -476 | -788 |
| Payment of Other Operating Expenses | -1227 | -1297 |
| Other Changes | -4.6 | -2 |
| Tax | -482.7 | -744 |
| Cash Flow from Operations | 667.3 | 1031 |
| Purchase of Fixed Assets | 30 | -29 |
| Sale of Fixed Assets | 0.8 | 0.14 |
| Purchase of Investments | -1136 | -2102 |
| Sale of Investments | 0 | 46 |
| Others | 318 | 778 |
| Cash Flow from Investing | -787.2 | -1306.86 |
| Sale of Equity Shares | 153 | 296 |
| Proceeds from Borrowing | 0 | 0 |
| Repayments from Borrowings | 0 | 0 |
| Other | 0 | 0 |
| Cash Flow From Financing | 153 | 296 |
| Net Cash Generated | 33.1 | 20.14 |
| Cash at the Start | 45 | 78 |
| Cash at the End | 78.1 | 99.14 |
Share Holding Pattern
| Shareholder | 2022 Percentage (%) | 2023 Percentage (%) |
|---|---|---|
| Religare Enterprises Limited | 65.46 | 64.98 |
| Trishikhar Ventures LLP | 16.48 | 16.36 |
| Union Bank Of India | 5.65 | 5.45 |
| Public | 12.41 | 13.21 |
Frequently Asked Questions (FAQ)
Find answers to common questions, providing clarity and insights to address any queries on your mind.
Contact Us: Reach out to Unlistify to confirm availability and agree on a price.
Provide KYC: Submit your Client Master Report, PAN card, and a cancelled cheque.
Make Payment: Transfer funds to our designated bank account (RTGS/NEFT/IMPS/cheque). Ensure the payment originates from the same account where you want the shares credited.
Receive Shares: We’ll transfer the Care Health shares to your Demat account within 24 hours of payment confirmation.
Get a Quote: Unlistify will provide a buyback price for your Care Health shares.
Share Details: Submit your Client Master Report.
Transfer Shares: Transfer the Care Health shares to our Demat account using a DIS (Delivery Instruction Slip).
Receive Payment: We’ll transfer funds to your bank account within 24 hours of receiving the shares (RTGS/NEFT/IMPS/cheque). For security reasons, payment will only be made to the account linked to your Demat
DIS (Delivery Instruction Slip): A DIS is a form used to authorize the transfer of shares from your Demat account.
Methods:
Offline DIS: Fill out a physical DIS form with details like the ISIN number, quantity, price of your Care Health shares, and our account information. Submit this to your broker.
Online DIS: Some brokers offer online DIS systems for easier transfers.
Unlistify aims to make unlisted share investing accessible. The current minimum investment for Care Health Unlisted Shares is approximately 35,000 – 50,000 INR.
Limited Liquidity: Unlisted shares are not traded on public exchanges, making it potentially harder to find buyers when you want to sell.
Price Volatility: Prices can fluctuate more than listed shares due to less publicly available information.
Regulatory Changes: Regulations for unlisted shares can change, affecting their value and trading.
Company-Specific Risks: Each company has its own risks related to its industry, financials, and management.
No Guarantee of Listing: There’s no assurance that unlisted shares will ever be listed on a public exchange.
Market Leader: Unlistify is one of India’s fastest-growing unlisted share platforms.
Transparency: We provide clear information about each unlisted share, including potential risks.
Security: We prioritize the protection of your financial information.
Customer Support: Our team is dedicated to guiding you through the investment process.
Latest Funding: We consider the valuation from Care Health most recent funding round.
Comparable Companies: If there’s no recent funding, we analyze similar listed companies to estimate a fair value.
SEBI’s Influence: SEBI regulations do apply to some aspects of unlisted share trading, such as lock-in periods and transaction charges. However, there are no specific SEBI regulations for becoming an unlisted broker.
We aim for same-day transfer of Care Health Unlisted Shares to your Demat account after your payment is confirmed.
Tax Transition: Once your unlisted Care Health shares are listed and sold on an exchange, standard listed share tax rules apply.
Holding Period: Your holding period (for determining long-term vs. short-term capital gains tax) starts from the original unlisted purchase date.
