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RELIGAREENTERPRISES Diversified 15 May 2026

Religare Enterprises Ltd — Q4 FY26

Religare Enterprises reported consolidated total income of ₹8,493 crore for FY26, up ~14% YoY, driven by strong performance at Care Health Insurance (GWP ₹11,417 crore, +24% YoY...

neutral medium
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Revenue ₹2,467 Cr +13.9%
EBITDA
PAT ₹96 Cr
EBITDA Margin 6%
Duration 61 min
Read Time 1 min read

✓ Verified against BSE filing

Risk Intelligence

Material risks this quarter

Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.

Risks

R

Promoter stake in Care may not meet IRDAI requirement

Promoter shareholding in Religare is ~30.3%, but post-demerger, Care's promoter holding may fall short of the 26% regulatory requirement, raising concerns about compliance.

high · analyst_question
R

Holding company discount persists

The demerger structure may not eliminate the holding company discount, as Care remains a subsidiary of a listed entity, potentially undervaluing the stock.

medium · analyst_question
R

NBFC ramp-up execution risk

The NBFC business is still in preparation phase with no clear timeline for disbursement growth, posing execution risk.

medium · management_commentary