Religare Enterprises Limited (RELIGARE) Financial Results — Revenue ₹8,493 Cr

Revenue: ₹8,493 CrNet Profit: ₹73.16

📢 Key Event
Religare announces demerger of health insurance and financial services businesses with share exchange ratio of 1:1 for REL shareholders.

🔄 What Changed
FY26 net profit of ₹73.16 crores; Care Health Insurance market share at 11.6% industry level; RFL cash balance of ₹591 crores; RBL PAT of ₹22 crores; RHDFCL loss narrowed to ₹18.6 crores from prior year; promoter stake increased to approximately 26% after recent purchases.

🔮 What's Next
Demerger to be completed by Q3 FY27; housing finance to achieve profitability in 12-18 months; Care Insurance targeting 18-24% growth; capital allocation of INR600 crores to housing finance, INR200 crores to broking, and INR375 crores to general corporate; combined ratio target of ~100% within 2 years.

💡 Investor Takeaway
The demerger creates two focused entities with clearer growth paths, while subsidiaries show strong operational momentum and improving profitability across key segments.

Religare Enterprises Limited reported FY26 net profit of ₹73.16 crores and total income of ₹8,493 crores for the full year, with Q4 income reaching ₹2,473 crores. The company announced a proposed demerger to separate its health insurance and financial services businesses, where REL shareholders will receive one RFL share per REL share. Care Health Insurance achieved 11.6% retail market share industry-wide and 19.7% in SAHI, with a combined ratio of 101.4% under Ind AS. Subsidiaries showed mixed performance: Religare Broking grew 18% YoY revenue to [amount context mismatch] crores and 79% YoY PBT to ₹12.9 crores; Religare Finvest reported ₹139 crores PAT and 261% CRAR; and Religare Housing Finance generated [amount context mismatch] crores revenue with 130% capital adequacy. The company plans capital allocation of INR600 crores to housing finance, INR200 crores to broking, and INR375 crores to general corporate purposes, with housing finance targeting profitability in 12-18 months.

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