| Periods | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 3 Years | All Time |
|---|---|---|---|---|---|---|---|
| Primex-40 | |||||||
| Care Health Insurance Limited |
|
Particulars |
31-03-2024 |
31-03-2023 |
|
Sources of funds |
|
|
|
Share Capital |
97,20,437 |
94,22,306 |
|
Reserves And Surplus |
1,19,77,804 |
80,69,537 |
|
Fair Value Change Account - Shareholders ' Funds |
2,25,003 |
(56,011) |
|
Fair Value Change Account - Policyholders ' Funds |
54,168 |
(590) |
|
Total |
2,19,77,412 |
1,74,35,242 |
|
Application of Funds |
|
|
|
Shareholders |
2,13,03,545 |
1,92,11,593 |
|
Policyholders |
4,50,25,649 |
3,15,51,286 |
|
Fixed Assets |
4,18,995 |
5,61,812 |
|
Deferred Tax Asset* |
4,12,281 |
4,68,101 |
|
Current Assets |
|
|
|
Cash and Bank Balances |
9,58,489 |
9,98,131 |
|
Advances and Other Assets |
30,10,757 |
23,73,106 |
|
Sub-Total |
39,69,246 |
33,71,237 |
|
Current Liabilities |
2,00,25,614 |
1,55,94,542 |
|
Provisions |
2,91,26,690 |
2,21,34,245 |
|
Sub-Total |
4,91,52,304 |
3,77,28,787 |
|
Net Current Assets |
-4,51,83,058 |
-3,43,57,550 |
|
Miscellaneous Expenditure (To The Extent Not Written Off or Adjusted) |
- |
- |
|
Debit Balance In Profit And Loss Account |
- |
- |
|
Total |
2,19,77,412 |
1,74,35,242 |
Care Health Insurance Limited Profit & Loss Statement (Rs in Thousands)
|
Particulars |
31-03-2024 |
31-03-2023 |
|
Operating Profit/(Loss) |
|
|
|
Miscellaneous Insurance |
35,59,964 |
64,37,363 |
|
Income from Investments |
|
|
|
Interest, Dividend & Rent - Gross |
13,47,276 |
9,78,608 |
|
Profit on sale of investments |
82,564 |
76,394 |
|
Less: Loss on sale of investments |
(967) |
(4,352) |
|
Total |
49,88,837 |
74,88,013 |
|
Other Expenses |
|
|
|
Expenses other than those related to Insurance Business |
43,788 |
60,299 |
|
Bad debts written off |
6,009 |
13,681 |
|
Foreign Exchange (Gain)/Loss |
2,379 |
(17,944) |
|
Corporate Social Responsilibilty (CSR) Expenses |
27,934 |
10,461 |
|
Sandbox related expenses |
- |
14 |
|
Contribution to the Policyholders ' Fund towards Excess EOM* |
8,08,057 |
41,41,692 |
|
Penalties |
57 |
- |
|
Total |
8,88,224 |
42,08,203 |
|
Profit / (Loss) Before Tax |
41,00,613 |
32,79,810 |
|
Current tax |
9,74,007 |
8,89,812 |
|
Tax relating to earlier years |
21,868 |
- |
|
Deferred Tax Expense/(Income) |
55,820 |
(68,574) |
|
Profit / (Loss) After Tax |
30,48,918 |
24,58,572 |
|
Balance of profit/(loss) brought forward from last year/period |
16,40,213 |
-8,18,359 |
|
Balance carried forward to Reserves & Surplus/Balance sheet |
46,89,131 |
16,40,213 |
|
Particulars |
31-03-2024 |
31-03-2023 |
|
Cash Flows from the Operating activities: |
|
|
|
Premium received from policyholders, including advance receipts |
8,21,49,032 |
6,21,55,817 |
|
Payments to the re-insurers, net of commissions and claims |
16,10,947 |
14,12,556 |
|
Payments to co-insurers, net of claims recovery |
-1,14,084 |
-1,44,067 |
|
Payments of claims |
-3,46,25,214 |
-2,48,05,127 |
|
Payments of commission and brokerage |
-1,42,81,794 |
-78,86,496 |
|
Payments of other operating expenses |
-1,43,15,414 |
-1,29,72,344 |
|
Deposits, advances and staff loans |
(53,004) |
(21,079) |
|
Income taxes paid (Net) |
-11,73,110 |
-6,50,000 |
|
Service tax / GST paid |
-87,12,564 |
-67,96,352 |
|
Net cash flow from Operating activities |
1,04,84,795 |
1,02,92,908 |
|
Cash flows from Investing activities: |
|
|
|
Purchase of fixed assets (including capital advances) |
-1,32,313 |
-2,97,839 |
|
Proceeds from sale of fixed assets |
1,587 |
1,417 |
|
Purchases of investments |
-1,95,59,839 |
-2,10,21,249 |
|
Sales of investments |
5,73,421 |
4,61,464 |
|
Repayments received |
43,28,780 |
44,39,053 |
|
Rents/Interests/ Dividends received |
37,95,527 |
25,34,544 |
|
Investments in money market instruments and in liquid mutual funds (Net) |
-6,86,701 |
8,25,555 |
|
Net cash flow from Investing activities |
-1,16,79,538 |
-1,30,57,055 |
|
Cash flow from Financing Activities |
|
|
|
Proceeds from issuance of share capital |
11,57,480 |
29,57,458 |
|
Net cash flow from Financing activities |
11,57,480 |
29,57,458 |
|
Effect of foreign exchange rates on cash and cash equivalents, net |
(2,379) |
17,944 |
|
Net increase in cash and cash equivalents |
(39,642) |
2,11,255 |
|
Cash and cash equivalents at the beginning of the year |
9,98,131 |
7,86,876 |
|
Cash and cash equivalents at the end of the year |
9,58,489 |
9,98,131 |
Here is a summary of the Cash Flow Statement for the years 2024 and 2023:
Cash Flows from Operating Activities: The company generated a positive cash flow of ₹1,04,84,795 thousand from its core operations. The main inflow came from premiums received from policyholders, amounting to ₹8,21,49,032 thousand, significantly higher than the prior year 's ₹6,21,55,817 thousand, indicating growth in policyholder contributions. Key outflows included payments of claims at ₹3,46,25,214 thousand and operating expenses such as commission and brokerage payments totaling ₹1,42,81,794 thousand. Despite these large outflows, the company 's efficient management of operations and its increase in premium receipts led to a net positive cash inflow from operating activities. There was also a payment of taxes, which amounted to ₹11,73,110 thousand.
Cash Flows from Investing Activities: The company experienced significant cash outflows in its investing activities, resulting in a net cash outflow of ₹1,16,79,538 thousand. Major investments included the purchase of fixed assets (₹1,32,313 thousand) and substantial outflows related to the purchase of investments (₹1,95,59,839 thousand). Though there were inflows from the sale of investments (₹5,73,421 thousand) and interest/dividends (₹37,95,527 thousand), these were not enough to offset the high spending on investments and fixed assets. The company 's conservative stance on liquidity management through money market investments further contributed to the outflows.
Cash Flows from Financing Activities: Cash inflows from financing activities amounted to ₹11,57,480 thousand, driven by proceeds from the issuance of share capital. This is lower compared to the previous year 's inflows of ₹29,57,458 thousand. The positive inflow shows the company raised additional equity capital during the year.
Effect of Foreign Exchange Rates: The net effect of foreign exchange rates on cash and cash equivalents was a small outflow of ₹2,379 thousand, compared to a positive effect of ₹17,944 thousand in the previous year.
Net Change in Cash and Cash Equivalents: Overall, the company saw a slight net decrease in cash and cash equivalents by ₹39,642 thousand for the year, compared to a positive change of ₹2,11,255 thousand in the prior year. Despite strong cash flows from operations, heavy outflows in investing activities offset these gains. The closing balance of cash and cash equivalents stood at ₹9,58,489 thousand, slightly lower than the opening balance of ₹9,98,131 thousand.
