* Ratio is calculated based on latest financial & current share price.
(All Amount in INR Millions)
(All Amount in INR Millions)
(All Amount in INR Millions)
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.
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.
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.
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 gained capital of Rs. 337 crores through a preferential allocation of 7,98,67,980 equity shares to M/s Trishikhar Ventures LLP and some other stockholders at a price of Rs. 27.89/- per equity share. In addition, the firm has issued 3.32 crores through ESOPs. Fluctuation in Care Health Insurance unlisted share price can be seen in the graph below.
The care health insurance unlisted share price is trading at Rs. 194 with 94 Cr shares outstanding, resulting in a market capitalization of Rs. 14,800 Cr. The company’s gross written premium (GWP), which represents its total insurance premium collection, stands at Rs. 5,141 Cr. The Mcap/GWP ratio of 2.74x indicates that the market values the company at 2.74 times its premium collection, which is a key valuation metric in the insurance industry. This suggests the market has a positive outlook on the company’s ability to grow and generate profits from its insurance business.
Promoters hold 87.6% of Care Health Insurance Limited shares, while others hold 12.4% of shares. 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.
The Care Health Insurance Ltd’s pace of growth is significant, having surpassed 7x income in 5 years. In FY 22-23, company’s net earned premium was Rs 3932.04 cr which increased to Rs 5328.68 crore in FY 23-24. 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. 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.
Here are the financial metrics of Religare Health Insurance to showcase high growth for FY 2023-24.
| Particulars | 2023-24 | 2022-23 |
| Total Income (₹ Crores) | 5,596.68 | 4,111.15 |
| PAT (₹ Crores) | 304.89 | 245.86 |
| Diluted EPS | 3.18 | 2.65 |
| Book Value per Share (₹) | 22.32 | 18.56 |
| Equity (₹ Crores) | 2169.82 | 1749.18 |
For the year 2024, the financial performance of care health share price showed a high jump in growth with accelerating total income and profit after tax to show more revenue. The increased metrics of Diluted EPS indicate the company’s strong position to attract more returns through shares. Additionally, it has shown a high equity valuation that was booked at Rs. 2169.82 crores, while the amount stood at Rs. 1749.18 in FY 2023. So, investors can opt to invest in the care health insurance share price & expect good returns.
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