Care Health (Previously Religare Health) Insurance Company Limited Unlisted Shares

Financial Year: 2023

Back to All Financial Reports View Care Health (Previously Religare Health) Insurance Company Limited Unlisted Shares Details

Financial Year: 2023

Download PDF View PDF

Financial Report Summary

Care Health Insurance Limited - Public Disclosures for the Financial Year 2022-2023 Summary:

Overview: This document contains the public disclosures for Care Health Insurance Limited for the financial year 2022-2023. It includes detailed financial statements like the Revenue Account, Profit and Loss Account, and Balance Sheet, along with various schedules providing a breakdown of key financial figures and operational metrics. The report also covers aspects related to shareholding, investments, claim settlements, commission, expenses, solvency margin, and business acquisition channels, along with qualitative and quantitative information regarding health services.

Key Financial Performance:

Revenue Account (NL-1-B-RA): Premiums earned (Net) were ₹393.204 Lakhs for the year ended 31st March 2023, compared to ₹251.084 Lakhs for the year ended 31st March 2022. Operating Profit was ₹64,372 Lakhs, up from ₹28,297 Lakhs in the previous year.
Profit and Loss Account (NL-2-B-PL): Operating Profit was ₹64,372 Lakhs. Total income was ₹74,878 Lakhs. The profit after tax was ₹24,584 Lakhs compared to ₹1,150 Lakhs the previous year.
Balance Sheet (NL-3-B-BS): Share Capital stood at ₹94,223 Lakhs. Reserves and Surplus were ₹80,694 Lakhs. Total Assets were ₹174,351 Lakhs. Investments - Shareholders were ₹192,116 Lakhs, and Investments - Policyholders were ₹315,513 Lakhs.

Premium and Claims:

Premium Earned (Net) (NL-4): Net Earned Premium for the year ended March 31, 2023, was ₹393,204 Lakhs, compared to ₹251,084 Lakhs for the year ended March 31, 2022.
Claims Incurred (Net) (NL-5): Net Claims Incurred for the year ended March 31, 2023, were ₹211,618 Lakhs compared to ₹163,373 Lakhs for the year ended March 31, 2022.

Investments:

Investment Schedule (NL-12 & NL-12A): Total investments amounted to ₹507,629 Lakhs as of March 31, 2023, divided between shareholders (₹192,116 Lakhs) and policyholders (₹315,513 Lakhs). A substantial portion is in Government Securities and other approved securities.

Expenses and Commissions:

Commission Schedule (NL-6): Net Commission expenses for the year ended March 31, 2023, totaled ₹44,271 Lakhs.
Operating Expenses (NL-7): Operating expenses related to insurance business were ₹132,271 Lakhs for the year. A large portion was attributed to employee remuneration and welfare benefits (₹72,960 Lakhs) and advertisement and publicity (₹39,855 Lakhs).

Shareholding Pattern:

Share Capital Schedule (NL-8): The authorized capital is ₹130,000 Lakhs. Issued, Subscribed, and Called-up Capital is ₹94,223 Lakhs.
Pattern of Shareholding (NL-9/NL-9A): As of March 31, 2023, promoters held 86.8% of the shares, while others held 13.2%. Religare Enterprises Limited and Trishikhar Ventures LLP are major shareholders.

Solvency Margin:

Solvency Margin (NL-23, NL-24, NL-25, NL-26): Total Admissible Assets for solvency (excluding liabilities and provisions) were ₹544,108 Lakhs. The total reserves for technical liabilities are ₹280,522 Lakhs. The solvency ratio (Total ASM/Total RSM) is 1.82. Required Solvency Margin based on net premium and net incurred claims: ₹91,818 Lakhs.

Key Ratios and Analytical Data:

Analytical Ratios (NL-20): The combined ratio was 0.92. The operating profit ratio was 0.06. Available Solvency margin Ratio to Required Solvency Margin Ratio was 1.82. Book value per share: ₹18.56.

Business Performance and Operations:

Business Acquisition Channels (NL-36): A significant portion of business was acquired through individual agents and corporate agents, with online channels also contributing.
Products Information (NL-27): The company introduced Care Advantage, Instant Care, and Protect Plus during the reported period.
Rural and Social Obligations (NL-43): Specific data on the number of policies issued and premium collected in rural and social sectors.
Offices Information (NL-41): The company had 248 branches at the end of the period.

Claims and Grievances:

Claims Data (NL-37): Claims O/S at the beginning of the period were 18,100. Claims settled during the period were 711,440. Claims repudiated during the period were 78,756.
Grievance Disposal (NL-45): The company had 22 complaints outstanding at the beginning of the quarter. Total complaints received: 1471. Total number of complaints closed: 733.

Related Party Transactions (NL-21): Reimbursement of expenses from Religare Enterprises Limited: ₹19,241 Lakhs

Additional Notes:

The report includes details on non-performing assets, reinsurance arrangements, and geographical distribution of business.
The document refers to various IRDAI (Insurance Regulatory and Development Authority of India) regulations, indicating compliance with regulatory standards.

This comprehensive summary encapsulates the key aspects of Care Health Insurance Limited's financial performance, operational metrics, and regulatory compliance for the financial year 2022-2023.

Company Resources

Access essential information and documents to make informed investment decisions

Events

Stay updated with upcoming events, conferences, and announcements

Financial Reports

Access quarterly and half-yearly financial statements and reports

Currently viewing

Annual Reports

Download comprehensive annual reports and financial summaries

Presentations

Access investor presentations, corporate briefings, and slideshows

Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.

Care Health Market Trends: Investing in Wellness

The health insurance industry plays a crucial role in ensuring financial security and access to quality healthcare. With rising medical expenses, increasing health awareness.…

NSDL Unlisted Shares SWOT Analysis

NSDL, India’s pioneering depository, combines institutional dominance with robust digital public infrastructure capabilities. As it approaches listing, its strengths in high-margin revenues and regulatory trust are offset by retail underpenetration and emerging fintech threats.

NSDL Pre-IPO Price Band Analysis: Projecting Listing Valuations Across P/E Scenarios

NSDL’s pre-IPO grey-market valuation implies a 63.3× trailing P/E, but actual listing prices could swing widely depending on investor confidence, regulatory clarity, and execution on digital and banking ventures. Scenario modeling across 55× to 75× forward P/E multiples shows a potential price range of ₹1,103–₹1,504, offering a roadmap for assessing risk-adjusted upside.

Unlisted NSDL Shares vs CDSL: Do Future Earnings Justify the Valuation?

NSDL’s rich unlisted valuation reflects its institutional edge, digital infrastructure revenues, and upside from its Payments Bank, but post-IPO, some premium may normalize. With CDSL riding strong retail growth and expanding fintech partnerships, the valuation gap could narrow as earnings converge over FY26–27.

Can NSE Be the Next Big Story on Its Listing, Similar to BSE?

NSE’s upcoming IPO has investors drawing parallels with BSE’s explosive post-listing returns, backed by its FY25 financial strength, market dominance, and rising retail interest. With key governance issues addressed, NSE’s listing could unlock significant shareholder value—potentially outpacing BSE’s success.

NSE Unlisted Shares: Do They Fit Warren Buffett’s Toll Road Investment Framework?

The NSE’s FY25 performance exemplifies Warren Buffett’s toll road investment philosophy, showcasing dominant market share, recurring revenues, high margins, and systemic indispensability. Its monopoly-like presence in India’s financial ecosystem makes it a resilient, high-quality long-term asset.