Care Health Insurance Unlisted Shares FY24 Results: Strong Profit Growth | What Investors Should Do?

Care Health Insurance is a health insurer that offers various health-related insurance products. Care Health Insurance Fy24 results are out.

Let's take a look at its performance:
The Gross Written Premium has reached ₹7,021.93 crore, showing a 34% growth compared to last year. Revenue has also increased by 36.1% to ₹5,700 crore, and PAT (Profit After Tax) has risen by 24% to ₹304.89 crore. The company’s solvency ratio stands at 1.74, which is higher than the regulatory requirement of 1.50.

However, the company’s valuation appears a bit high when compared to its competitors. Currently, it is trading at a P/E ratio of 70.9x, which is significantly higher than its peers' average P/E of 48.4x. Additionally, the company's P/B ratio is 11.7x, while the average P/B ratio of its competitors is just 4.3x.

For now, we recommend selling Care Health Insurance unlisted shares. For better opportunities, call Planify. For more stock market news like this, subscribe to us!

About Care Health Insurance Pre IPO:

Care Health Insurance is a leading health insurance provider in India, offering comprehensive coverage for individuals and families. With a wide range of plans, Care Health Insurance provides financial protection against unexpected medical expenses. Their policies often include coverage for hospitalization, pre- and post-hospitalization expenses, outpatient treatments, and even maternity benefits. Additionally, they offer cashless claims settlements at a vast network of hospitals, making the process convenient for policyholders. Care Health Insurance's commitment to customer satisfaction and timely claims processing has made them a trusted choice in the Indian health insurance market.