Unlisted Shares
Care Health (Previously Religare Health) Insurance Company Limited Unlisted Shares
Care Health Insurance Limited (Unlisted)
Verified Unlisted CompanyOff-market Transfer · NSDL / CDSL
About Care Health (Previously Religare Health) Insurance Company Limited Unlisted Shares
Care Health Insurance Limited (formerly Religare Health Insurance) is a leading standalone health insurer in India offering retail health insurance, group health plans, travel insurance, and wellness services. The company has a strong hospital network and focuses on individual and SME segments.
Share Details
| company Name | Care Health Insurance Limited (Unlisted) |
| indicative Unlisted Share Price | ₹185 |
| market Capitalization | ₹13,500–17,000 Crore |
| lot Size | 100 |
| 52 Week High | ₹190–210 |
| 52 Week Low | ₹130–140 |
| face Value | ₹10 |
| book Value | ₹22–24 |
| pe Ratio | 40–90 |
| pb Ratio | 5–10 |
| debt To Equity | 0 |
| return On Equity | 7–10% |
| total Outstanding Shares | 97.2 Crore |
| isin | INE119J01011 |
| depository | NSDL & CDSL |
| pan | AADCR6281N |
| cin | U66000DL2007PLC161503 |
| rta | KFin Technologies Limited |
Income Statement (Profit & Loss) (₹ in Crore)
| Particulars | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Gross Written Premium (GWP) | 3,880 | 5,141 | 6,864 | 8,318 |
| Net Earned Premium | 3,088 | 4,590 | 6,047 | 6,733 |
| Premium Earned | 2,510 | 3,932 | 5,329 | 6,347 |
| Total Revenue | 2,961.6 | 4,525 | 5,678 | 6,724 |
| Claims Incurred | 1,633 | 2,116 | 3,074 | 4,096 |
| Commission | 110 | 442 | 1,070 | 1,357 |
| Operating Expenses | 1,070 | 1,322 | 1,178 | 1,222 |
| Operating Profit | 283.6 | 645 | 356 | 49 |
| Income from Investment | 59 | 105 | 143 | 173 |
| PBT | 15 | 327 | 410 | 208 |
| Tax | 4 | 82 | 105 | 53 |
| PAT | 11 | 245 | 305 | 155 |
| EPS (₹) | 0.12 | 2.6 | 3.14 | 1.59 |
Key Financial Ratios (Last 3–5 Years)
| Ratio | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Combined Ratio | 112.07 | 98.68 | 99.87 | 105.17 |
| Net Loss Ratio | 0.65 | 0.54 | 0.58 | 0.65 |
| Market Cap / GWP | 4.33 | 3.3 | 2.97 | 1.93 |
Financial Annual Report Summary
Care Health has shown strong premium growth with improving profitability, although margins remain volatile due to claims and underwriting cycles.
Why Invest in Care Health (Previously
- Strong premium growth (₹3880 Cr → ₹8318 Cr).
- Profitability improved till FY24 but declined in FY25.
- Insurance business highly sensitive to claims ratio.
- Combined ratio near 100% indicates tight underwriting margins.
Balance Sheet - Assets (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Fixed Assets | 94 | 56 | 42 | 34 |
| Cash and Balances | 78 | 99 | 96 | 193 |
| Investment - Shareholder | 1,105 | 1,921 | 2,130 | 2,466 |
| Investment - Policyholder | 2,460 | 3,155 | 4,502 | 5,933 |
| Advances & Other Assets | 250 | 283 | 342 | 350 |
| Total Assets | 3,987 | 5,514 | 7,112 | 8,976 |
Balance Sheet - Liabilities & Equity (₹ in Crore)
| Item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Share Capital | 908.5 | 942 | 972 | 974 |
| Reserves & Surplus | 380 | 806 | 1,198 | 1,399 |
| Current Liabilities | 1,161 | 1,559 | 2,002 | 3,343 |
| Provisions | 1,529 | 2,213 | 2,913 | 3,306 |
| Other Liabilities | 0 | -6 | 27 | -46 |
| Total Liabilities | 3,987.5 | 5,514 | 7,112 | 8,976 |
Liabilities Breakdown & Balance Sheet Insights
Balance Sheet Insights
Investment portfolio (policyholder funds) dominates assets, typical for insurance companies.
Liabilities Breakdown
Insurance liabilities driven by policyholder reserves and claim provisions.
Additional Insights
Strong growth in assets and reserves aligned with premium growth.
Cash Flow Insights
- Strong operating cash flows from premiums.
- Heavy investment outflows (insurance model).
- Stable liquidity position.
Shareholding Pattern
Recent
Promoter: Religare Enterprises & Investors
Institutional: -
Public: Limited
Promoters & Management
Backed by Religare Enterprises and private equity investors.
Key Management
Anuj Gulati - MD & CEO
Insurance Industry
Registrar & Transfer Agent (RTA)
Registrar: KFin Technologies Limited
Management Analysis
Focused on retail health insurance expansion with increasing premium base and improving underwriting discipline.
Explore More Investment Opportunities
Discover IPOs, unlisted shares, and broker comparison tools curated for smart investors.