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Care Health Annual Reports, Balance Sheet and Financials

Care Health Insurance Limited (Care Health) Return Comparision with Primex 40 Index

Periods 1 Week 1 Month 3 Months 6 Months 1 Year 3 Years All Time
Primex-40
Care Health Insurance Limited

Care Health Insurance Limited Balance Sheet (In Rs. Crores)

 

Particulars

As at 31 March 2023

As at 31 March 2022

APPLICATION OF FUNDS

 

 

INVESTMENTS - Shareholders

                            1,921.16

                                1,105.64

 INVESTMENTS - Policyholders 

                            3,155.13

                                2,460.44

 Loans 

                                         -  

                                             -  

 Fixed Assets 

                                  56.18

                                      55.07

 Deferred Tax Asset (Net) 

                                  46.81

                                      39.95

CURRENT ASSETS

 

 

 Cash and Bank Balances 

                                  99.81

                                      78.69

 Advances and Other Assets 

                                237.30

                                    157.48

 Sub-Total (A) 

                                337.11

                                    236.17

 Deferred Tax Liability (Net) 

 

 

 Current Liabilities 

                            1,559.46

                                1,161.19

 Provisions 

                            2,213.42

                                1,529.17

 Sub-Total (B) 

                            3,772.88

                                2,690.36

 Net Current Assets (C) = (A - B) 

                          -3,435.77

                              -2,454.19

Miscellaneous Expenditure 

 

 

Debit Balance In Profit And Loss Account

                                         -  

                                      81.83

 TOTAL 

                            1,743.51

                                1,288.74

 SOURCES OF FUNDS 

 

 

Share Capital

                                942.23

                                    908.57

 Share Application Money Pending Allotment 

 

 

 Reserves And Surplus 

                                806.94

                                    380.63

 Fair Value Change Account 

 

 

 -Shareholders ' Funds 

                                   -5.60

                                       -0.57

 -Policyholders ' Funds 

                                   -0.06

                                        0.11

 Borrowings 

                                         -  

                                             -  

TOTAL

                            1,743.51

                                1,288.74

Care Health Insurance Limited Profit & Loss Statement (In Rs. Crores)

 

PARTICULARS

2023

2022

OPERATING PROFIT/(LOSS)

 

 

(a) Fire Insurance

 

 

(b) Marine Insurance

 

 

(c ) Miscellaneous Insurance

                                643.72

                                    282.97

INCOME FROM INVESTMENTS

 

 

(a) Interest, Dividend & Rent – Gross

                                101.87

                                      63.03

(b) Profit on sale of investments

                                    7.64

                                        1.89

(c) Loss on sale/ redemption of investments

                                   -0.44

                                       -2.57

(d) Amortization of Premium / Discount on Investments

                                   -4.01

                                       -3.95

OTHER INCOME

 

 

(a) Provision no longer required written back

 

 

TOTAL (A)

                                748.78

                                    341.37

PROVISIONS (Other than taxation)

 

 

(a) For diminution in the value of investments

 

 

(b) For doubtful debts

 

 

(c) Others

 

 

OTHER EXPENSES

 

 

(a) Expenses other than those related to Insurance Business

                                    6.02

                                        4.60

(b) Bad debts written off (Net of Provision)

                                    1.37

                                        0.70

(c) Interest on subordinated debt

                                         -  

                                             -  

(d) Expenses towards CSR activities

                                    1.05

                                        1.32

(e) Penalties

 

 

(f) Contribution to Policyholders ' A/c

 

 

(i) Towards Excess Expenses of Management

                                414.17

                                    318.70

(ii) Others

 

 

(g) Others

 

 

(i) Foreign Exchange Loss/(Gain)

                                   -1.79

                                        0.50

(ii) Sandbox related expenses

 

 

TOTAL (B)

                                420.82

                                    325.82

Profit / (Loss) Before Tax

                                327.96

                                      15.55

Provision for Taxation

 

 

Current tax

                                  88.98

                                        1.84

Deferred tax Expense/(Income)

                                   -6.86

                                        2.21

Profit / (Loss) After Tax

                                245.84

                                      11.50

APPROPRIATIONS

 

 

(a) Interim dividends paid during the year

 

 

(b) Final dividend Paid

 

 

(c) Transfer to any Reserves or Other Accounts

 

 

Balance of profit/ (loss) brought forward from last year

                                -81.83

                                    -93.33

Balance carried forward to Reserves and Surplus/Balance Sheet

                                164.01

                                    -81.83

Care Health Insurance Limited’s Cash Flow Statement (In Rs. Crores)

 

Particulars

 31st March 2023

 31 March 2022 

A. Cash Flow from Operating Activities

 

 

Premium received from policyholders, including advance receipts

                   6,215.58

                      4,695.90

Other receipts

 

 

Payments to the re-insurers, net of commissions and claims

                      141.26

                         233.57

Payments to co-insurers, net of claims recovery

                       -14.41

                             2.66

Payments of claims

                  -2,480.51

                     -2,073.18

Payments of commission and brokerage

                     -788.65

                        -476.05

Payments of other operating expenses*

                  -1,297.23

                     -1,227.06

Preliminary and pre-operative expenses

                              -  

                                 -  

Deposits, advances and staff loans

                         -2.11

                            -4.69

Income taxes paid (Net)

                       -65.00

                            -7.78

Goods & Service tax paid

                     -679.64

                        -475.86

Other payments

 

 

Cash flows before extraordinary items

                   1,029.29

                         667.51

Cash flow from extraordinary operations

                              -  

                                 -  

Net cash flow from Operating activities

                   1,029.29

                         667.51

Cash flows from Investing activities:

 

 

Purchase of fixed assets (including capital advances)

                       -29.78

                          -29.81

Proceeds from sale of fixed assets

                          0.14

                             0.09

Purchases of investments

                  -2,102.12

                     -1,136.35

Loans disbursed

                              -  

                                 -  

Sales of investments

                        46.15

                           11.67

Repayments received

                      443.91

                         296.55

Rents/Interests/ Dividends received

                      253.45

                         184.14

Investments in money market instruments and in liquid mutual funds (Net)

                        82.56

                        -113.45

Expenses related to investments

                              -  

                                 -  

Net cash flow from Investing activities

                  -1,305.71

                        -787.16

Cash flows from Financing activities:

 

 

Proceeds from issuance of share capital

                      295.75

                         153.16

Proceeds from borrowing

                              -  

                                 -  

Repayments of borrowing

                              -  

                                 -  

Interest/dividends paid

                              -  

                                 -  

Net cash flow from Financing activities

                      295.75

                         153.16

Effect of foreign exchange rates on cash and cash equivalents, net

                          1.79

                            -0.50

Net increase in cash and cash equivalents:

                        21.13

                           33.01

Cash and cash equivalents at the beginning of the year

                        78.69

                           45.68

Cash and cash equivalents at the end of the year

                        99.81

                           78.69

Care Health Insurance Limited Share Dividend History

 

Particulars

2023

2022

Dividend per Share

                       -  

                         -  

Care Health Insurance Limited Recent Financial Performance

 

Operating Profit/(Loss):

  • The company 's operating profit in the Fire Insurance segment showed a substantial increase from INR 282.97 crore in 2022 to INR 643.72 crore in 2023, indicating robust performance and profitability in this specific insurance category.

Income from Investments:

  • Interest, Dividend & Rent – Gross increased from INR 63.03 crore in 2022 to INR 101.87 crore in 2023, signifying higher income generated from investments.

  • Profit on the sale of investments also grew from INR 1.89 crore in 2022 to INR 7.64 crore in 2023, reflecting gains from investment sales.

  • Loss on sale/redemption of investments improved from INR -2.57 crore in 2022 to INR -0.44 crore in 2023, indicating better control over investment losses.

  • Amortization of Premium/Discount on Investments increased slightly from INR -3.95 crore in 2022 to INR -4.01 crore in 2023.

Profit / (Loss) Before Tax:

  • The company achieved a substantial improvement in its profitability before tax. Profit before tax surged from INR 15.55 crore in 2022 to INR 327.96 crore in 2023, indicating a remarkable turnaround in financial performance.

Annual Report

Care Health Financials 2022-23

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Care Health Annual Report 2022-23

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Care Health Annual Report 2021-22

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Care Health Annual Report 2020-21

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Research Reports

2022-23

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Corporate Actions

Care Health Right Issue

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Care Health Right Issue

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