Gross Direct Premium
Q4FY23 witnessed a significant increase in gross direct premium, reaching ₹1,495.46 Cr compared to ₹1,250.77 Cr in Q3FY23.
The growth trend is also reflected in the yearly figures, as the gross direct premium for FY23 reached ₹5,141.52 Cr, a substantial increase from ₹3,880.91 Cr in FY22.
This indicates a healthy growth trajectory in generating premium revenue for Care Health Insurance.
Net Earned Premium
The net earned premium also experienced a positive trend in Q4FY23, reaching ₹1,201.59 Cr, up from ₹969.61 Cr in Q3FY23.
Similarly, the net earned premium for FY23 increased to ₹3,932.04 Cr, compared to ₹2,510.84 Cr in FY22.
This signifies an expansion in the company's revenue after accounting for policy cancellations, reinsurance, and other related expenses.
Operating Profit
Q4FY23 witnessed a substantial rise in operating profit, reaching ₹519.27 Cr, compared to ₹47.20 Cr in Q3FY23.
The yearly operating profit also increased significantly, with FY23 reporting ₹643.72 Cr, up from ₹282.97 Cr in FY22.
This indicates improved operational efficiency and cost management, leading to higher profitability for Care Health Insurance.
Net Profit
The net profit for Q4FY23 stood at ₹99.27 Cr, representing an increase from ₹56.84 Cr in Q3FY23.
The yearly net profit for FY23 reached ₹245.84 Cr, a substantial improvement compared to ₹11.50 Cr in FY22.
This demonstrates strong profitability and financial performance, indicating effective revenue generation and cost control measures.
Total Net Worth
Care Health Insurance's total net worth increased from ₹1,289.20 Cr in FY22 to ₹1,749.17 Cr in FY23.
This growth in net worth reflects the company's strengthened financial position and enhanced capital base, providing a solid foundation for future operations and expansion.
Earnings Per Share (EPS)
Q4FY23 reported an EPS of ₹1.05, an improvement from ₹0.60 in Q3FY23.
The yearly EPS for FY23 stood at ₹2.61, reflecting substantial growth compared to ₹0.13 in FY22.
This indicates increased earnings available to shareholders for each outstanding share, highlighting the company's profitability and potential return on investment.
Overall, Care Health Insurance has demonstrated impressive financial performance in Q4FY23 and throughout FY23. The company exhibited substantial growth in premium revenue, net profit, operating profit, and EPS. Moreover, the significant increase in total net worth signifies a strengthened financial position. These positive indicators suggest effective business strategies, robust operational performance, and enhanced market presence for Care Health Insurance.
Current Valuation:
| Particulars |
Care Health |
Star Health |
| Share Price |
Rs. 150 |
Rs. 590 |
| Shares Outstanding |
~94 Crores |
~58.2 Crores |
| Mcap (Market Capitalization) |
~14000 Crores |
~34308 Crores |
| GWP (Gross Written Premium) |
Rs. 5141 Crores |
~11000 Crores |
| Mcap/GWP Ratio |
2.74x |
3.11x |
Care Health still has a share price of Rs. 150 and approximately 94 Crores shares outstanding, resulting in a market capitalization of approximately 14,000 Crores. The Gross Written Premium (GWP) for Care Health remains at Rs. 5,141 Crores. The Mcap/GWP ratio for Care Health is calculated as 2.74x.
As for Star Health, the share price is available at as Rs. 590 per share as on 15.05.2023, with a total of approximately 58.2 Crores shares outstanding. This results in a market capitalization of around 34,308 Crores. The GWP for Star Health remains at approximately 11,000 Crores. The Mcap/GWP ratio for Star Health is calculated as 3.11x.
Comparing these figures, Care Health still appears to be relatively more reasonably priced than Star Health, as it maintains a lower Mcap/GWP ratio (2.74x compared to 3.11x). This indicates that Care Health's market capitalization is relatively more favorable in relation to its Gross Written Premium, when compared to Star Health.
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