Religare Health Insurance Unlisted Shares
About The Company
Strong
Market Position
Consistent
YoY Growth
Experienced
Management
Key Indicators
A snapshot of Religare Health Insurance Unlisted Shares's financial health, valuation multiples and capital efficiency at a glance.
Pricing Trends
Financial Performance
| Indicators | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 223.3 | 498.9 | 748.8 | 341.3 | 322.9 | 279.0 | 262.5 | -6.4 |
| Expense | 15.1 | 88.8 | 420.8 | 325.8 | 247.4 | 213.1 | 205.6 | 9.9 |
| EBITDA | 208.2 | 410.1 | 328.0 | 15.5 | 75.5 | 65.9 | 56.9 | -16.3 |
| Other Cost | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| PBT | 208.2 | 410.1 | 328.0 | 15.5 | 75.5 | 65.9 | 56.9 | -16.3 |
| Tax Expense | 53.1 | 105.2 | 82.1 | 4.0 | -26.7 | 0.2 | 0.0 | 0.0 |
| PAT | 155.1 | 304.9 | 245.9 | 11.5 | 102.2 | 65.7 | 56.9 | -16.3 |
| Other Inc./Exp. | 0.0 | 0.0 | -81.9 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Income | 155.1 | 304.9 | 164.0 | 11.5 | 102.2 | 65.7 | 56.9 | -16.3 |
| Shares O/S | 97.42 | 97.20 | 94.20 | 90.10 | 84.10 | 72.80 | 68.90 | 59.50 |
| EPS (₹) | 1.60 | 3.20 | 2.60 | 1.30 | 1.20 | 1.20 | 1.00 | 0.40 |
| Rev. Growth % | -55.2% | -33.4% | 119.4% | 5.7% | 15.7% | 6.3% | -4201.6% | — |
| EBITDA Mgn % | 93.2% | 82.2% | 43.8% | 4.5% | 23.4% | 23.6% | 21.7% | 254.7% |
| Net Mgn % | 69.5% | 61.1% | 21.9% | 3.4% | 31.7% | 23.5% | 21.7% | 254.7% |
| EPS Growth | -50.0% | 23.1% | 100.0% | 8.3% | 0.0% | 20.0% | 150.0% | — |
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About Care Health Insurance Ltd unlisted shares (Religare)
Incorporated in July 2012, Care Health Insurance (Religare) is a health insurance company providing products in the consumer market for health insurance, top-up coverage, accident insurance, newborn care, foreign travel insurance, and major illness, as well as collective health insurance and organisation personal accident insurance for corporations, micro-insurance commodities for the rural sector, and an inclusive range of wellness services. The company is commercialized by the same team that runs Fortis HealthCare, one of India's six dedicated health insurers. The market capital of the company is Rs. 18790.1 Cr.
Who bought Religare?
The Burman family has recently acquired a significant stake in Religare. The Competition Commission of India (CCI) approved their acquisition of an additional 31.27% stake, making them the majority shareholders in this financial services firm.
Why did Religare change its name?
Religare Health Insurance changed its name to Care Health Insurance to improve its brand image and reflect its intention to facilitate access to quality healthcare.
Who is promoter of Religare?
The promoter of Religare Enterprises Ltd, the parent company of Care Health Insurance, is Malvinder Mohan Singh. Religare Enterprises was founded by the Singh brothers, Malvinder and Shivinder Mohan Singh, who initially built a strong presence in the healthcare and financial services sectors in India.
Care Health Insurance Ltd unlisted share price overview
Fluctuation in Care Health Insurance unlisted share price can be seen in the graph below.
The fluctuation can easily be seen in the graphic above.
Previous year the Care Health unlisted share price was Rs. 160, and today it is available at Rs. 194.
From Jan 2023 to mid-2024, Care Health share price steadily rose from Rs 140 to peak around Rs 190-195. This aligned with strong EBITDA growth and higher EPS in FY 2023-24.
Till mid-2025, the Care insurance share price entered a downward trend, sliding from Rs 190 to below Rs 150. The market likely reacted to shrinking business scale, even if profitability ratios remained high.
Here comes a red dot, Rights Issue Announcement. Price seems to have dipped right before the announcement, then stabilized. The current Care Health unlisted share price appears flat post-rights issue news, suggesting muted market reaction.
The rights issue was not seen as value-enhancing due to the lack of a discount. The market seems to be in a wait-and-watch mode.
Currently the care health insurance unlisted share price is trading at Rs. 150 with 94 Cr shares outstanding, resulting in a market capitalization of Rs. 153090 Cr.
Financial Analysis on Care Health Insurance Share price
Particulars (Amount in Rs Crores) | FY 24-25 | FY 23-24 | FY 22-23 |
Revenue | 223.3 | 498.9 | 748.8 |
EBITDA | 208.2 | 410.1 | 328 |
Net Income | 155.1 | 304.9 | 164 |
EPS | 1.6 | 3.2 | 2.6 |
Revenue has declined sharply over the past two years, a 70% cumulative drop from FY 2022-23 to FY 2024-25. The decline accelerated in FY 2024–25, raising concerns. Investors typically view falling top-line revenue as a major red flag, which could make Care Health share price bearish.
Absolute EBITDA declined in FY 2024-25 by ~49%. EBITDA margins have risen sharply, reaching 93.2%, which is an unusually high signal of strong operational efficiency. If investors believe the company is transforming into a more profitable version, they might still support the Care Health unlisted share price.
Despite revenue shrinkage, net profit margins continue to expand. Net income fell only slightly from FY 23 to FY 25, despite revenue collapsing to a very atypical performance.
EPS growth in FY 2023-24 reflects high profitability, but the 50% drop in FY 25 in EPS aligns with a fall in net income, which still doesn’t reflect the full severity of the revenue collapse. This usually leads to a decline in Care Insurance share price.
So, investors can opt to invest in the care health insurance share price & expect good returns.
Why buy Care Health Insurance Ltd unlisted shares?
The Care Health Insurance Ltd's pace of growth is significant, having surpassed 7x income in 5 years. The sector has enormous potential for expansion. Though the profit of the company was 245.84 Cr in FY 2022-23, this further grew to 304.89 crore in FY 23-24. But in FY 24-25 profit declined to Rs 155 crores.The company has recently received investment from private equity firms. The company can give good ROI to its valued Religare Health Insurance Shareholders (Since the company was previously known as Religare) in the future if invested before its IPO.
It accelerated the Religare Health Insurance unlisted share prices and jumped it to Rs.194 in October 2024. By October 25, the same price dropped to Rs 150 per share.
How to apply for Care Health Insurance Ltd unlisted Shares online?
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