religare corporate presentation · capital markets large retail broking ... distinguished board and...

Religare Enterprises Limited Corporate Overview

November 2016

Leading financial services platform

Religare Enterprises Limited (REL) through its

subsidiaries has established itself in some of the

most promising verticals within Financial Services,

viz. Lending, Health Insurance and Capital Markets

Nationwide distribution footprint

Subsidiaries service over 1.14 mn. clients from

over 1,450 locations with more than 7,200

employees

Professional management team

Stable team with average senior management

tenure of ~7 years and experience of ~18 years

Key Financials (as at/quarter ended 31-Mar-2016)

Net worth: ₹3,863 cr. (USD 584 mn.)

Total assets: ₹27,429 cr. (USD 4.15bn.)

Total revenues: ₹4,503 cr. (USD 689 mn.)

Pre-exceptional PAT: ₹225 cr. (USD 34.5 mn.)

Market information

Listed on NSE and BSE: market capitalization of

₹4,935 cr. (~USD 740 mn.) as of 30-Sep-2016

Religare Overview Religare is focused on the most promising opportunities in the financial services space in India

1

Business Lines Religare Snapshot

Lending

Leading SME-focused NBFC with deep domain knowledge

SMEs are constrained by lack of funding; the gap presents a lucrative opportunity for specialist financiers

Tapping the growing opportunity in lending for affordable housing

Capital Markets

Large retail broking platform, open architecture wealth management platform a and mid-market focused

institutional equities and investment banking platform

Immense opportunity from structurally high savings and low penetration of financial assets; equities in particular to benefit

Health Insurance

One of five standalone health insurers in India

Low insurance density; health insurance in particular growing rapidly due to rising cost of healthcare and disproportionate share of

out-of-pocket expenditure

Distinguished Board and robust governance structure The Board is comprised of highly accomplished individuals from diverse backgrounds

2

Mr. Harpal Singh

Director

Mr. Monish K Dutt

Nominee Director of IFC

Mr. Virendra Kumar Madan

Director

Mr. Ravi Mehrotra Director

Mr. Padam Bahl Independent

Director

Mr. Deepak Sabnani

Independent Director

Mr. R. K. Shetty

Independent Director

REL’s Board of Directors

Mr. Sunil Godhwani Whole-time Director

Mr. Malvinder Mohan Singh

Non-Executive Chairman

Mr. Shivinder Mohan Singh

Non-Exec Vice-Chairman

Mr. A C Mahajan Independent Director Former CMD – Canara Bank, Allahabad Bank

Mr. Tejpreet Chopra Independent Director

Former CEO – GE in India, Sri Lanka, Bangladesh

Ms. Sangeeta Talwar Independent Director Former MD – NDDB

Dairy Services Pvt. Ltd.

Mr. Rashi Dhir Independent

Director

Professional management with vast experience and long tenure Companies managed by independent management teams under Group Executive oversight

Key Leadership

Nalin Nayyar, Interim CEO – Religare Enterprises Over 23 years of experience. With the Religare Group for six years. Previously, handled various roles in fin. services industry across U.S., Europe and Asia at Citigroup and Lehman Brothers

Len

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Kavi Arora, MD & CEO – Religare Finvest More than 23 years of diverse experience in the financial services space. Previously, associated with reputed companies such as ABN AMRO Bank, CitiFinancial and GE Capital

Anuj Gulati, MD & CEO– Religare Health Insurance Over 20 years of experience. Previously, he was the Director for Services and Business Development at ICICI Lombard General Insurance and started his career with Procter & Gamble Ltd. H

ealt

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nce

R

eta

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ng Nitin Jain, MD & CEO– Religare Securities

Over 20 years of multi-faceted experience and associated with Religare Group for 10 years. Prior to current role, was President and COO at Religare

Health Insurance responsible for driving sales, distribution, business development and marketing

We

alth

M

anag

em

en

t Sriram Iyer, CEO – Religare Wealth Management Over 22 years of experience in the financial services industry with stints at GE and ABN AMRO. Held senior leadership positions and managed large and diverse teams across various functions

Cap

ital

Mar

kets

Gautam Trivedi, CEO – India, Religare Capital Markets Over 23 years of experience in the financial services industry. Previously, Gautam worked at Goldman Sachs for 7 years as MD and Head of Equity Sales & Distribution in India

Anil Saxena, Group Chief Finance Officer – Religare Enterprises Over 24 years of experience in the financial services industry. Responsible for the overall supervision of the finance function and execution of all strategic matters of the group

Maninder Singh, Chief Business Officer – Religare Enterprises Associated with Ranbaxy Laboratories for 28 years; rose to become Global Financial Controller. Managed Treasury, Risk, Taxes, Fin. Accounting, M&A and Investor Relations

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4

Robust platform in place to capture opportunities in financial services Multi-product manufacturing capabilities and distribution network

All data as at/for the quarter ended 31-Mar-2016

Lending

SME-focused Lending • Balance sheet size of ₹21,049 cr. (USD 3.18 bn.)

• High quality portfolio: net NPA of 2.31% (90-day basis)

• Capital adequacy (CRAR) of 16.7%

Affordable Housing Finance

• Loan book of ₹829 cr. (USD 126 mn.)

Capital Markets

Retail Broking Distribution across more than 440 cities, 1,320

locations and catering to over 1.14 mn. clients

Wealth Management Advisory-led open architecture platform

Institutional Equities and Investment Banking India institutional research team covers 155 stocks

Empanelled with more than 450 clients globally

Health Insurance

Health Insurance Leveraging group’s healthcare assets

GWP of ₹503 cr. (USD ~77 mn.); YOY growth of 82%

4,869 hospitals in provider network

Multi-channel distribution including significant online

presence

Religare is poised to capture the buoyancy in Financial Services Financial Services highly correlated to economic growth and will gain from India’s superior growth trajectory

5

Leading financial services

platform with presence

across three verticals

Focus on servicing entire

customer spectrum

Judicious mix of balance

sheet-led and fee-based

businesses

Capital Markets Channelising risk capital to the markets

Retail and Mass Retail Higher savings from rising incomes

HNIs Allocating growing wealth across asset classes

Lending Providing debt capital to power growth of SMEs and affordable housing

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Health Insurance Protection for individuals, SMEs

Financial Institutions Capital flows tracking superior returns

SME & Mid-corporates Debt financing, equity raise, M&A, ECM

Financial Services businesses are highly correlated with economic growth; at India’s current stage of development, Financial Services is likely to grow at a multiple of the broader economy, unlocking the structural potential across the spectrum

The Indian economy is the fastest growing large economy; set to sustain world leadership in GDP growth rate

Key Businesses

Overview

Lending Business Overview

One of India’s largest Non-Banking

Financial Companies,

focusing on the SME segment

Business Highlights

Improve ROE

Grow Book Size

Ensure High Quality Portfolio

Strategic Priorities

8% 62%

Offerings

NBFC Balance Sheet Size

₹21,049 cr. (USD 3.18 bn.)

Affordable Housing Finance book size of

₹829 cr. (USD 126 mn.)

(as of 31-Mar-2016)

SME Lending

Capital Market

Lending

Affordable Housing Finance

7

Recognition CIBIL ‘Fast and

Upcoming’ Data Quality

Award - 2016

8

Non-Performing Assets§

Growth capital provider focused

on fast-growing SME segment

• The sector contributes 17%

to India’s GDP, 45% to

manufacturing output and

40% to the total value of

exports

Strong performance across credit

and operating benchmarks

• Secured asset finance

portfolio over 83%

• Net NPA of 2.31% on 90-day

basis and 1.77% on 150-day

basis as at 31-Mar-2016

Significant headroom for

operating leverage through

tested management strength,

processes and systems

Winner of ‘The Most Innovative

Risk Management Strategy’ at the

ERM Leadership Summit and

CIBIL ‘Fast and Upcoming’ Data

Quality Award

Key highlights Continued traction in SME-Secured segment: book size up 29% YOY

12.6

64.6

20.9

13.5

66.1

22.3 23.5

66.2

15.0

23.2

58.7

14.4

21.6

51.8

17.6

Religare Finvest SME-Secured drives growth in book size

(₹ cr.)

*Net of portfolio assigned to other lenders § NPAs are recognised at 90 days since Oct 2011 whereas regulations require transitioning from 180-day NPA recognition to 90-day recognition by 31-Mar-2018

285076118150

31-Mar-16

16,313

1,080

13,259

1,946

31-Dec-15

15,536

1,092

12,698

1,696

30-Sep-15

14,631

1,169

11,966

1,420

30-Jun-15

13,890

1,425

11,121

1,226

31-Mar-15

13,274

1,762

10,250

1,112

Capital Market Lending

SME-Secured*

Others

SME-Unsecured*

3.07%

3.49%

2.95%2.86%

2.24%

2.31%

2.78%

2.29%2.21%

1.69%

2.44%

1.77%

2.17%

1.65% 1.64%1.46%

1.19%

31-Dec-15 30-Sep-15

1.99%

30-Jun-15 31-Mar-15

1.19%

1.63%

31-Mar-16

NNPA 90 dpd

GNPA 90 dpd

NNPA 180 dpd

GNPA 180 dpd

NNPA 150 dpd

GNPA 150 dpd

Borrowing programme supported by superior ratings

NIM and Opex to ANR

4.23%4.13%4.54%

4.74%4.59%

2.06%2.42%2.37%

2.19%2.47%

Q4FY16 Q3FY16 Q2FY16 Q1FY16 Q4FY15

Opex/ ANR NIM

Additionally obtained Long Term rating of ‘CARE AA-’ for ₹1,400 mn. [~USD 212 mn]

Rating Type Rating Agency Amount

₹ cr. USD mn.

Commercial Paper [ICRA] A1+ ICRA 2,700 408 ST Debt [ICRA] A1+ ICRA 1,000 151 ST Bank Loans [ICRA] A1+ ICRA 600 91 LT Debt [ICRA] AA- (stable) ICRA 3,400 514 LT Bank Loans [ICRA] AA- (stable) ICRA 11,400 1,725 Market-Linked Deb. ICRA pp-MLD AA- ICRA 100 15 Tier-2 Sub. Debt IND AA- (stable) Ind-Ra 750 113 Commercial Paper IND A1+ Ind-Ra 3,000 454 ST Bank Loans IND A1+ Ind-Ra 3,000 454 LT Debt IND AA - (stable) Ind-Ra 3,000 454 LT Bank Loans IND AA - (stable) Ind-Ra 10,000 1,513

2.2 2.1 2.2 2.2 2.47 (USD bn.)

9

Traction in disbursements, book size increased 96% YOY

12.6

64.6

20.9

Religare Housing Development Finance Corporation Targeting the growing opportunity of lending for affordable housing

829

662558

481423

31-Mar-16 30-Jun-15 30-Sep-15 31-Dec-15 31-Mar-15

Net Interest Margin and Non-Performing Assets

2.1%

1.7%1.7%1.9%

1.5%

1.1%1.3%

1.2%

8.1%8.1%8.6%9.2% 8.3%

Q2FY16 Q3FY16

1.0%

Q4FY16

0.7%

Q1FY16 Q4FY15

Significant shortfall of housing units in India; urban housing

shortage of 18.78 mn. units with majority among the low income

group and the economically weaker sections

Housing for All scheme by the Government aims to provide

affordable housing to urban poor; 20 mn. houses to be built in

urban areas by 2022 through financial assistance from the Central

Government

RHDFC focuses on finance needs of first time home buyers for self

use in the affordable housing segment

• Current loan book size of ₹829 cr.

Portfolio of products offered include

• Loans for home purchase

• Construction finance loans to affordable housing developers

• Loan against residential property for business purpose

RHDFC has created a distinct underwriting framework to evaluate

ability and intent of the borrower; additional parameters assessed

include qualitative checks

Key Highlights

(₹ cr.)

67 (USD mn.)

76 84 94 126

NNPA GNPA NIM

10

Health Insurance Business Overview

Positioned to capture

significant Group Synergies

Retail & Group Health Plans

Retail & Group Accident Plans

International Travel Plan

GWP of

₹503 cr. (USD 77 mn.) in

FY16

4,869 hospitals in

provider network

(as of 31-Mar-2016)

Grow GWP with

efficient use of

Capital

‘FICCI Healthcare

Excellence Award –

2015’

Recognition

Business Highlights


Offerings

11

Performance of standalone health insurers

Religare Health Insurance Robust distribution aiding in rapidly achieving scale

Key Highlights

Fourth standalone health insurer to be set up in India

Equity participation of 5% each by Union Bank of India and

Corporation Bank

Pan-India coverage through 56 offices

Multi-channel distribution strategy through Agency, Brokers,

Corporate Agents, Online and Bancassurance

Gross Written Premium (GWP) of ₹503 cr. (USD 77 mn.) in FY16;

increase of 82% over the previous year

Bouquet of 12 products covering health, personal accident,

critical illness and travel

Gross written premium

Consistently expanding the Hospital Network

103124 107 112

161


GWP

4,409 4,532 4,630 4,768 4,869


No. of network hospitals PSU Private SAHI

No. of companies 4 17 5

No. of years in existence 41 14 7

GWP* – FY15 (₹ cr.) 13,501 6,154 2,928

GWP* – FY16 (₹ cr.) 16,308 6,908 4,154

YOY Growth 21% 12% 42%

GWP* – FY15 (USD mn.) 2,211 1,008 480

GWP* – FY16 (USD mn.) 2,497 1,058 636

(₹ cr.)

16.4 16.6 19.6 17.1 23.8 (USD

mn.)

*Health & Personal Accident only; Source: Industry Reports

12

Capital Markets Business Overview

A formidable capital markets platform with

extensive distribution capabilities

1.14 mn. Retail

Broking clients

Wealth Mgmt. AUM ₹4,055 cr. (USD

613 mn.) 155 stocks under

Research coverage

(q.e. 31-Mar-2016)

Retail Broking

Wealth Mgmt

Institutional Equities and

Investment Banking

Generate Superior

ROE

Attain Sustainable Profitability

Business Highlights


Offerings Recognition

“Leveraging Digital and Technology for Business Growth”

Award at the Skoch BSE Award For

Aspiring India 2015

13

• One of India’s largest retail broking

networks

• Asset light broking model to

enhance efficiency

• Growing use of online and mobile

platforms by customers

• Focus on compliance adherence

and improvement in customer

service and experience

• Pricing standardized to improve

yields in the equities and

commodities segments

• Steady growth in equities and

commodities broking clients –

total client base of over 1.14

million

Key Highlights Religare turnover

Religare Securities & Religare Commodities Market environment remained challenging during the financial year

333

935

292

995

313

1,015

260

940

270

950

(ADTO# - ₹ cr.)

Focus on distribution network productivity

(Nos.)

Business update

#Average Daily Turnover

1,302 1,250 1,201 1,184 1,162

192 189 177 168 158

31-Mar-16

1,320

31-Dec-15

1,352

30-Sep-15

1,378

30-Jun-15

1,439

31-Mar-15

1,494

Franchisees Own Branches

Challenges from the macro environment,

primarily global, caused market-wide

turnover to decline during the first nine

months of the financial year; but increased

in Q4FY16 over previous quarter driven by

Options

Religare’s performance has been resilient in

the face of a challenging market

environment in FY16

Religare’s total traded volume in FY16 was

₹12.8 trillion from approx. 135,000 unique

traded clients. Asset-light channels

contributed ~73% of total revenue in

Q4FY16

Quality of relationship continues to be the

focus in new client acquisition, third party

sales and BP acquisition.

Yield has improved by 15% in equity

segment, owing to focus on standardized

pricing

5.23.23.43.93.2

Q4 FY16

7.0

25.9

Q3 FY16

7.6

23.5

Q2 FY16

8.0

26.8

Q1 FY16

8.6

28.6

Q4 FY15

8.3

37.1

Currency Equity Commodity

14

Key value proposition of

‘Simplified Wealth Solutions’ for

the customers

Seen as trusted advisors to

clients, enabled by our tripod

delivery model

Active advisory calls helping

clients position portfolios to gain

from high-impact events

Expanding product solutions to

enhance ability to win clients

across the group

Size and scale aligned to market

Focus on Relationship Manager

productivity

Key Highlights Client Base

Relationship Manager productivity Business update

4,492

4,972

4,687 4,662 4,631

₹ cr.

AUM

Religare Wealth Management Differentiating through a focused idea-driven approach

Inflows into Equity PMS schemes has become

one of the key contributors to the business,

with significant traction also having been built

up in Structured Products and Real Estate

backed high-yielding NCDs

Incrementally equity MF sales have declined

given the mood in the market. All the same,

trail income contribution to revenue has

improved significantly as an outcome of the

focus on building an annuity book

(₹ cr.)

3,945 4,029 4,008 4,0554,400

31-Mar-15 31-Mar-16 31-Dec-15 30-Sep-15 30-Jun-15

Total AUM

703 (USD mn.) 620 609 606 613

16.0 (USD mn.)

13.5 12.2 13.2 12.7

848781

86100

31-Mar-16 31-Dec-15 30-Sep-15 30-Jun-15 31-Mar-15

4,5144,4774,5074,5234,549

30-Sep-15 31-Mar-16 31-Dec-15 30-Jun-15 31-Mar-15

No. of Clients

Jan 2016 ₹120 cr.

Mar 2016 ₹118 cr.

Jan 2016 ₹250 cr.

Religare Capital Markets Poised to capitalise on multi-decade growth story in India

• Mid-market focused institutional equities and

investment banking platform

• Investment Banking platform offers life-cycle

investment banking services i.e. growth capital raise to

IPO to QIP to Block placements

• Closed calendar year 2015 as the No. 2 QIP manager in

India for transactions of more than USD 10 mn.

(excluding transactions for BFSI companies)

• Equity transactions of size aggregating to ₹940 cr. (USD

144 mn.) successfully executed during FY16

• Syndicated multiple debt issues aggregating to ₹440 cr.

(USD 67 mn.) during FY16

• 20 analysts in India’s Institutional Research team cover

155 stocks

• Equities businesses serve 452 clients globally with

differentiated research

Key Highlights

15

Select deals completed during FY2016

Block

Sole Placement Agent

Debt Syndication

Arranger

Aug 2015 ₹235 cr.

Open Offer

Lead Manager

Block

Sole Placement Agent

Crompton Greaves

Differentiating through original, on-the-ground research

Financial Services Opportunity in India

17

SMEs constitute a large contributor to national output and exports

SME Lending

Share of SMEs in India’s manufacturing

output

40%

Share of SMEs in India’s total exports

Source: CRISIL

Credit flow to the sector has improved in recent years as the potential of the sector is better understood

45%

6,8405,2804,860

3,6602,5802,160

1,260

2013 2009 2012 2011 2007 2008 2010

+33%

24.0% 16.5% Share of SMEs in banks’ industry and services portfolio

Outstanding SME credit as % of total outstanding bank credit

The SME sector is one of the largest generators of employment in India, employing 73 million people. The sector has been observed to outpace GDP growth in years of high growth.

However, providing credit to the sector commensurate with its contribution to national output is too daunting a task for banks

Bank credit to SMEs (₹ billion)

SMEs are the backbone of India’s economy but are constrained by lack of funding; specialist NBFCs with deep understanding of the workings of SMEs are crucial for bridging the gap

Gap in funding for SMEs presents a lucrative opportunity for specialist financiers

Health Insurance is on a high growth trajectory

18

532

33027824714589665428

DE KR BR IN ZA RU JP US

1,259

CN UK

xx% GWP as % of GDP Total premium (USD bn.)

1% 15% 4% 12% 7% 3% 12% 11% 8% 4%

Out-of-Pocket as % of Total Healthcare Expenditure

59%

35%35%31%

11%9%

CN IN RU BR US UK

Healthcare spend as a % of GDP

Source: Reserve Bank of India, World Bank, Economist Intelligence Unit, India Brand Equity Foundation, Karvy, Industry reports, Swiss Re, IRDAI SG=Singapore, MY=Malaysia, KR=S. Korea, JP= Japan, TH=Thailand, IN=India, ID=Indonesia, CN=China, RU=Russia, ZA=South Africa, DE=Germany, UK=United Kingdom, US= United States

Non-life insurance penetration in India is a mere 0.7% and Health Insurance is growing rapidly as healthcare costs are spiraling and share of out-of-pocket expense is among the highest

Health Insurance

17.90%

9.40%9.30%

6.30%5.40%

4.00%

RU CN IN US BR UK

248204

176153132

1128466513222

27%

FY08 FY07 FY06 FY09 FY16 FY15 FY14 FY13 FY12 FY11 FY10

Health Insurance GWP (₹ bn.)

Source: Reserve Bank of India, World Bank, Economist Intelligence Unit, India Brand Equity Foundation, Karvy, Industry reports Market Capitalization for US is of NYSE and for China of Shanghai Stock Exchange; Cash Trading velocity is defined as annual cash turnover divided by market capitalisation; Data for 31-Dec-2013 for all countries except India which is for 31-Mar-2014 SG=Singapore, MY=Malaysia, KR=S. Korea, JP= Japan, TH=Thailand, IN=India, ID=Indonesia, CN=China;

Surge in wealth and reallocation across asset classes to revive interest in Equities

19

274061

929395

160

252

MY SG CN ID IN TH JP KR

Market cap*/GDP (%)

32.254.6

25.3

45.5

24.3

63.7

0.90.49.13.5

5.2

43.2

18.9

228.4

109.9

2013

11.4

2018E

Provident Fund

Others

Mutual Funds

Small Savings/Cash

Insurance

Bank Deposits/ Bonds

Equity Distribution of individual wealth in India invested in financial assets (₹ trillion)

Capital Markets

38% xx% Cash Trading Velocity

Wealth Management

10%

39%17%26%

35%73%

59%

26%

15%

US Asia-Pacific India

51–65

Over 65

Under 50

177

94

2020E 2015E

+89% Total wealth of Ultra High Net Worth Individuals in India (₹ trillion)

Distribution of Ultra High Net Worth Individuals by Age Group

+162%

30%

104% 143% 106% 45% 33% 304%

Equity-related businesses to benefit from tailwinds as India is under-penetrated c.f. regional peers and a

correction to under-ownership of equities is imminent

Total wealth of UHNIs set to grow nearly 90% in 5 years; younger UHNI age profile provides opportunity to

innovate and make intense use of technology

REL and Key Subsidiaries Financials

21

REL’s financial performance is at an inflection point Businesses set to deliver substantial improvement in performance as consolidation phase complete

• Reduced REL-level debt by monetizing investments

• Restructured Lending Business balance sheet

• Matched liability profile with assets

• Held asset base constant between FY12 and FY14 putting prudence ahead of growth

• Consolidated retail broking presence to rein in fixed costs

• Rationalized own branches from peak of ~400 to under 200 now

• Focus on asset-light channels; now generating ~73% of revenues

• Rationalized size and scope of investment banking business

• Focused as a mid-market investment bank, with near operating breakeven in FY16

Multiple actions taken to consolidate operations over the past four years

Consolidated financial performance on an improving trajectory

4,5034,1873,472

FY16 FY15 FY14

REL Consolidated Revenue

FY16

535

FY15

485

FY14

263

REL Consolidated pre-exceptional PBT after MI

11

FY16

225

FY15

154

FY14

REL Consolidated pre-exceptional PAT

(₹ cr.)

576 686 689 44 79 82 2 25 34 USD mn.

Operating Companies’ Financial Highlights (1/3)

22

Income Statement FY14 FY15 FY16

Total Income 2,016 2,163 2,528

Operating and Administrative Expenses 304 325 341

Personnel Expenses 103 111 164

Interest and Finance Charges 1,260 1,322 1,581

Depreciation 7 9 6

Profit before Tax 341 396 437

Profit after tax 217 257 295

Balance Sheet 31-Mar-14 31-Mar-15 31-Mar-16

Shareholders' Funds 2,273 2,377 2,822

Non-Current Liabilities 5,169 8,019 10,348

Current Liabilities 6,697 6,733 7,879

Total Liabilities 14,139 17,130 21,049

Non-Current Assets 7,315 10,068 13,665

Current Assets 6,824 7,062 7,384

Total Assets 14,139 17,130 21,049

Religare Finvest Limited (₹ cr.) Religare Enterprises Limited (₹ cr.)

Consolidated Income Statement FY14 FY15 FY16

Total Income 3,472 4,187 4,503

Operating and Administrative Expenses 999 1,266 1,172


Interest and Finance Charges 1,579 1,652 1,872

Depreciation 34 37 36

Less: Net Expenses of JV Recoverable (48) (52) (47)

PBT before exceptional items 263 485 535

PAT before exceptional items 11 154 225

Exceptional items (80) - (273)

Profit after tax, as reported (69) 154 (48)

Consolidated Balance Sheet 31-Mar-14 31-Mar-15 31-Mar-16

Shareholders' Funds 3,188 3,909 3,863

Minority Interest 226 220 185

Non-Current Liabilities 8,901 11,110 13,078

Current Liabilities 8,811 10,201 10,304


Non-Current Assets 11,941 15,136 17,934

Current Assets 9,185 10,303 9,496

Total Assets 21,125 25,439 27,429


23

(₹ cr.) (₹ cr.)


Net Earned Premium 82 154 288

Net Claims Incurred & Net Commission 78 114 140



Investment & Other Income 16 21 34

Profit before Tax (80) (99) (79)

Profit after tax & Minority Interest (72) (89) (71)


Shareholders' Funds 124 125 171

Non-Current Liabilities 0.4 0.2 1.6

Current Liabilities 137 275 401

Total Liabilities 261 400 574

Non-Current Assets 169 282 433

Current Assets 92.2 118 141

Total Assets 261 400 574

Religare Health Insurance Co. Limited*

*Financial statement represents 100% of the entity. Minority Interest is reduced from PAT.


Total Income 36 57 106



Interest and Finance Charges 9 18 43

Depreciation - - -


Profit after tax and Minority Interest 8 13 17



Non-Current Liabilities 62 324 580




Current Assets 67 158 176


Religare Housing Development Finance Corp. Ltd.* (₹ cr.) (₹ cr.)


24





Interest and Finance Charges 57 96 101

Depreciation 6 6 6


Profit after tax 26 25 23




Current Liabilities 952 1,314 1,028



Current Assets 1,080 1,534 1,337

Total Assets 1,478 1,860 1,597




Personnel Expenses

21

24 24

Interest and Finance Charges - - 0

Depreciation 1 1 0

Profit before Tax (11) (4) (8)

Profit after tax (11) (4) (8)







Current Assets 4 10 5


*The combined abridged financials have been drawn up by line by line addition and not as per AS-21 issued by ICAI.

Retail Broking (RSL, RCL, RCTL and RCDMCC)* (₹ cr.) Religare Wealth Management Limited (₹ cr.)

Religare Enterprises Limited

A - 3,4,5, GYS Global, Sector - 125, Noida, U.P. – 201301, India

religare corporate presentation · capital markets large retail broking ... distinguished board and...

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