* 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 commercialised by the same team that runs Fortis HealthCare, one of India’s six dedicated health insurers. The market capital of the company is Rs. 15,264 Cr. In June 2021, the company announced its IPO of up to Rs. 2,000 Cr giving investors an opportunity to invest in its listed stocks.
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.
Promoters hold 87.6% of Care Health Insurance Limited shares, while others hold 12.4% of shares. The fluctuation can easily be seen through the graphic above. Previous year the unlisted share price of the company was Rs. 169 and today it is available at Rs. 160.
The Care Health Insurance Ltd’s pace of growth is significant, having surpassed 7x income in 5 years. In FY 21-22, company net income was Rs 322.9 cr which increased to Rs 341.4 crore in FY 22-23. The sector has enormous potential for expansion. Though the profit of the company was 75.4 Cr in 2021 but it had to face a loss in 2022 as the recorded profit was 15.6 Cr. 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.
| Ratio | FY23 | FY22 |
| Operating Margin | 44% | 5% |
| Net Profit Margin | 33% | 3% |
| Return on Equity | 14% | 1% |
| Debt-Equity | 0 | 0 |
| Current Ratio | 0.22 | 0.09 |
As you can see from the table above, there is a high jump in the operating margin, indicating high profitability growth for the company in FY 2023. Also, the increased rate of ROE indicates that Religare Health Insurance is earning revenue in FY 2023 in comparison to FY 2022. Further, the rate of net profit margin shows the high efficiency of the business. It accelerated the Religare Health Insurance unlisted share prices and jumped it to Rs. 180 per equity share in September 2023.
Here are the financial metrics of Religare Health Insurance to showcase high growth for FY 2022-23.
| Particulars | 2022-23 | 2021-22 |
| Total Income (₹ Crores) | 748.8 | 341.36 |
| PAT (₹ Crores) | 245.86 | 11.49 |
| Diluted EPS | 2.61 | 0.13 |
| Book Value per Share (₹) | 18.56 | 14.19 |
| Equity (₹ Crores) | 1749.18 | 1289.2 |
For the year 2023, the financial performance of the company 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. 1749.18 crores, while the amount stood at Rs. 1289.20 in FY 2022. So, investors can opt to invest in the company to expect good returns.
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