Religare Enterprises Ltd

- Post the INR600 crores capital infusion (INR250 crores already infused in Care Health Insurance), further capital raising options include: - Raising subordinated debt of INR1,000 crores. - Utilizing existing net worth (close to INR2,000 crores equity). - For lending and broking businesses: - Leadership hires are ongoing. - Plans to leverage unutilized equity; for example, Religare Finvest has INR500 crores cash but is unlevered and aims to increase gearing to industry standards in the next 2-3 years. - Housing finance plans to infuse up to INR250 crores and obtain banking lines to grow. - No specific timelines provided for new fundraises beyond existing plans; incremental fundraises will be value-accretive and taken as needed based on growth and scale. - Capital infusion funds raised via warrants include INR1,500 crores total, INR410 crores received so far, deployed across subsidiaries.

- Post capital infusion of INR600 crores (INR250 crores already infused in Care Health Insurance), Religare aims to maintain solvency margin at 1.7 or above. - Additional capital raising options include raising subordinated debt up to INR1,000 crores. - Out of the INR1,500 crores raised via warrants, INR410 crores has been received so far; INR256 crores infused in CARE, rest allocated to subsidiaries including broking and housing. - Plans to leverage financial services subsidiaries further from their current unleveraged position (e.g., Religare Finvest sitting on INR500 crores cash). - INR250 crores infusion planned in housing finance to start leveraging and expanding franchise. - Broking and lending businesses are hiring leadership with intent to scale up using capital raised. - Strategic demerger aims to unlock value and provide focused capital allocation tailored to each entity’s growth trajectory.

- Insurance Business (Care Health Insurance): - Retail business grew by 41% YoY on a full premium basis in the recent quarter. - Market share in retail health insurance continues to expand, currently 11.4% of the industry. - Full premium basis growth for the current year at 21.5%. - Focus on digital transformation, improving efficiency and customer experience. - Financial Services (Religare Finvest and Broking): - Reorganization and demerger expected to unlock value and enable focused growth. - Lending business yet to restart fully; sufficient capital to fuel growth once ramp-up begins. - Broking business revenues grew 12% YoY; significant increase in client debit book (93% YoY). - Plans to expand lending and broking with new leadership hires targeting multifold franchise growth. - Overall: - The group aims for sustained long-term growth backed by capital infusion and professional management. - Growth plans include leveraging market penetration (e.g., housing finance penetration at 11% GDP) and scaling operations focused on retail and MSME segments.

- Care Health Insurance shows strong growth with retail premium growth at 41% YoY on full premium basis. - Profitability improved to INR265 crores for the nine months ended December 2025, with a combined ratio improving by 1.1% YoY. - Expense of Management (EOM) ratio is declining, expected to reduce gradually, supporting profitability. - Capital infusion of INR600 crores into insurance and INR900 crores into financial services supports growth and solvency. - Solvency margin targeted to be maintained at 1.7 or above, ensuring capital adequacy for growth. - Religare Broking aims to improve active client ratio (currently 14% vs industry 21%) and revenues (12% YoY growth), which will enhance ROE over time. - Broking’s profitability growing sharply; PBT up 893% YoY, with net worth increasing. - Demerger into focused entities aims to unlock shareholder value and facilitate dedicated strategic growth. - Overall, sustained earnings growth expected driven by structural reforms, capital infusion, and increasing operational scale.

The provided pages from the Religare Enterprises Limited document do not explicitly mention current or expected order book or pending orders details. The discussion primarily focuses on: - Insurance business performance, premium booking, claims ratio, and expense ratios. - Financial services and lending business restructuring, leadership hiring, and capital infusion. - Broking and lending business growth, digital initiatives, and leadership plans. - Demerger of financial services and insurance businesses into focused entities. - Asset quality, collections, and capital adequacy of NBFC segment. - Market share growth and financial metrics in broking and insurance segments. No specific data on order book or pending orders is disclosed in the available content. If you seek detailed order book or pending order figures, those might be found in other sections or detailed reports not provided here.