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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹2,739 Cr
verification pending
Revenue YoY
15.6%
reported change
EBITDA
Pending
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Go Digit reported Q2 FY26 gross written premium of ₹2,739 crore (ex-1/n), up 15.6% YoY, driven by strong growth in motor (market share at 6.2%), fire (+60.8%), and commercial lines. PAT rose to ₹117 crore from ₹89 crore, aided by a low 14% tax rate. The combined ratio improved to 109.9% (ex-1/n) from 112.2% a year ago, despite a 2% drag from two-wheeler growth. Management highlighted that the two-wheeler mix (30% of motor) pressures reported profitability due to upfront commission recognition. Deferred acquisition cost of ₹178 crore (post-tax) will unwind ~₹71 crore in H2. Guidance remains qualitative: no specific targets, but management expects H2 industry growth to improve and reiterated focus on core underwriting profitability without relying on TP reserve releases or capital gains. Key risk: competitive intensity and pricing pressure in motor OD and group health could keep combined ratios elevated.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects macro indicators and festive season to drive higher motor and health insurance growth in H2 FY26.
- Out of ₹178 Cr deferred acquisition cost (post-tax), ~₹71 Cr will benefit IGAP results in H2 FY26.
- Management expects opex to remain stable in H2, with continued investment in technology driving productivity gains.
Risks flagged
- High growth in two-wheeler business (30% of motor mix) depresses reported combined ratio due to upfront commission recognition under IGAP.
- Analyst raised concern that lower IDV post-GST cut could worsen OD loss ratios; management acknowledged but said pricing review will happen in November.
- Pricing in group health remains intense; management noted loss ratios could rise if tariff revisions don't materialize.
- Management admitted EV cars have 20-25% higher loss ratios in flood claims, and the industry may not be pricing adequately.
Key quotes
- Our market share in motor is now 6.2% and this is the highest we have had for any quarter since the start of the company roughly about 8 years back.
- Every increase of 1% of private car mix from two wheeler will reduce the company's co by 0.1.
- We don't give forecast not because we don't want to but because our product mix etc changes substantially.
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