Care Health Share
About Care Health Share
Care Health Insurance Limited, formerly known as Religare Health Insurance, is a specialized health insurer in India. Established in 2012, the company offers a range of health insurance products tailored for individuals, families, and corporate clients. Its product portfolio includes health insurance, critical illness coverage, personal accident insurance, top-up coverage, international travel insurance, and maternity benefits. Additionally, Care Health provides group health insurance and group personal accident insurance for corporate entities.
Business Divisions
Care Health operates through diverse business divisions to cater to various customer segments:
Retail Health Insurance: Offers individual and family health plans, critical illness policies, personal accident coverage, and maternity insurance.
Group Health Insurance: Provides comprehensive health insurance solutions for corporate employees, including group personal accident policies.
Travel Insurance: Covers international travel-related health risks, ensuring travelers are protected against unforeseen medical expenses abroad.
Pros
Robust Financial Growth: In FY23, Care Health reported a gross direct premium of ₹5,141.52 crore, a significant increase from ₹3,880.91 crore in FY22. The net profit for FY23 stood at ₹245.84 crore, a substantial improvement from ₹11.50 crore in FY22.
Extensive Distribution Network: The company boasts a strong network infrastructure, comprising 248 branches, 251,000 individual agents, 149 corporate agents, and partnerships with over 22,900 hospitals.
Diverse Product Portfolio: With a wide range of health insurance products, Care Health caters to various customer needs, enhancing its market appeal.
Cons
Limited Market Penetration: Despite growth, only 4% of the Indian population is covered under individual or family floater policies, indicating a vast untapped market.
Dependence on Agents: A significant portion of premium distribution relies on individual agents (35%) and corporate agents (18%), which may pose challenges in scaling direct or online sale
Key Details
| Metric | Value |
|---|---|
| Market Cap (in ₹ Cr.) | ₹15,392.11 |
| P/E Ratio | 99.37 |
| P/B Ratio | 6.60 |
| Debt to Equity Ratio | 0 |
| Return on Equity (ROE) | 7% |
| Book Value | ₹23.93 |
| Earnings Per Share (EPS) | ₹1.59 |
| Face Value | ₹10 |
| Total Shares | 97,41,84,460 |
| Particulars | Details |
|---|---|
| Share Name | Care Health Unlisted |
| Share Price | ₹158.00 per equity share |
| Lot Size | 500 Shares |
| 52 Week High | ₹210 |
| 52 Week Low | ₹160 |
| Depository | NSDL & CDSL |
| PAN Number | AADCR6281N |
| ISIN Number | INE119J01011 |
| CIN | U66000DL2007PLC161503 |
| RTA (Registrar & Transfer Agent) | KFin Technology |
Financials
| Particulars | 2025 | 2024 | 2023 |
|---|---|---|---|
| Gross Written Premium (GWP) | 8,318 | 6,864 | 5,141 |
| Net Earned Premium (NEP) | 6,733 | 6,047 | 4,590 |
| Premium Earned | 6,347 | 5,329 | 3,932 |
| Profit/Loss on Sale of Investments | 18 | 13 | 7 |
| Interest, Dividend & Rent | 350 | 255 | 172 |
| Other Revenue | 9 | 81 | 414 |
| Total Revenue | 6,724 | 5,678 | 4,525 |
| Claims Incurred | 4,096 | 3,074 | 2,116 |
| Commission | 1,357 | 1,070 | 442 |
| Operating Expenses | 1,222 | 1,178 | 1,322 |
| Other Revenue Account | 0 | 0 | 0 |
| Operating Profit | 49 | 356 | 645 |
| Income from Investment (Policyholder) | 173 | 143 | 105 |
| Other Income | 2 | 0 | 0 |
| Other Expenses | 15 | 89 | 420 |
| Profit Before Tax (PBT) | 208 | 410 | 327 |
| Tax | 53 | 105 | 82 |
| Profit After Tax (PAT) | 155 | 305 | 245 |
| Earnings Per Share (EPS) | ₹1.59 | ₹3.14 | ₹2.60 |
| Ratio | FY24 | FY23 | FY22 |
|---|---|---|---|
| Operating Margin | 3% | 9% | 17% |
| Net Profit Margin | 2% | 5% | 5% |
| Return on Equity (ROE) | 7% | 14% | 14% |
| Debt to Equity Ratio | 0 | 0 | 0 |
| Current Ratio | 0.08 | 0.08 | 0.09 |
| Dividend Payout | 0% | 0% | 0% |
| Metric | Care Health | Star Health Insurance | Niva Bupa Health |
|---|---|---|---|
| Market Cap (₹ Crores) | 15,684 | 26,098 | 16,187 |
| Profitability Margin (%) | 2% | 4% | 4% |
| ROCE (%) | 9% | 12% | 7% |
| ROE (%) | 7% | 10% | 7% |
| Debt-Equity (D/E) Ratio | 0 | 0.07 | 0.07 |
| P/E Ratio | 101.26 | 40.4 | 75.8 |
| P/B Ratio | 6.73 | 3.66 | 4.22 |
| Book Value per Share (₹) | ₹23.93 | ₹121 | ₹20.70 |
| Metric | Care Health | Star Health Insurance | Niva Bupa Health |
|---|---|---|---|
| Market Cap (₹ Crores) | 15,684 | 26,098 | 16,187 |
| Profitability Margin (%) | 2% | 4% | 4% |
| ROCE (%) | 9% | 12% | 7% |
| ROE (%) | 7% | 10% | 7% |
| Debt-Equity (D/E) Ratio | 0 | 0.07 | 0.07 |
| P/E Ratio | 101.26 | 40.4 | 75.8 |
| P/B Ratio | 6.73 | 3.66 | 4.22 |
| Book Value per Share (₹) | ₹23.93 | ₹121 | ₹20.70 |
