About Raksha Health Insurance Tpa Private Limited
Data last updated:
Raksha Health Insurance Tpa Private Limited is a private limited company based in Bangalore, Karnataka, India. It operates in the life insurance. non life insurance segment of the insurance sector. It was incorporated on 22 January 2002 and has been in existence for over 24 years.
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U85199KA2002PTC191278. Its GSTIN is 29AACCR3893H1ZY (Karnataka). The company holds 19 GST registrations, all of them active.
The company has an authorised share capital of ₹4 Cr and a paid-up capital of ₹4 Cr. It was formerly known as Raksha Tpa Private Limited. It is led by directors including Pawan Kumar Bhalla (Whole-Time Director) and Vijay Sankaran.
Its last annual general meeting (AGM) was held on 13 September 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Bangalore, Karnataka.
As per the financials filed for FY 2024, the company reported a revenue of ₹57.56 Cr, a decline of 11% compared to the previous year. For the same year it recorded a net loss of ₹7.53 Cr (net margin -13.1%) and EBITDA of -₹4.78 Cr (EBITDA margin -8.3%). Revenue has declined at a compounded annual rate (CAGR) of 4% over three years and 3% over five years.
The company has about 779 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: Raksha Insurance. As per MCA filings, the company has satisfied charges of ₹11.2 Cr on record. Court records list 56 cases involving the company, including 7 filed by the company and 49 filed against it; 15 cases are pending. The company has 8 deals on record (5 secondary share transfers, 1 acquisition, 1 rights issue), with disclosed funding of ₹1 Cr; the latest was in August 2023. Its 3 peer companies in the BFSI industry (Health Insurance, Third Party Administrators), with the same principal business activity (life/non-life insurance and reinsurance activities) are compared by revenue, 1 larger and 2 smaller; the largest is HDFC Ergo Health Insurance Limited with revenue of ₹132.13 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website rakshatpa.com.
Company details
CIN history
Raksha Health Insurance Tpa has one previous CIN (Corporate Identification Number): U85199DL2002PTC113925. The current CIN is U85199KA2002PTC191278, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U85199KA2002PTC191278 | Current |
| U85199DL2002PTC113925 | Previous |
Contact details
Raksha Health Insurance Tpa Private Limited's registered office is in Bangalore, Karnataka. Its website is rakshatpa.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Registered AddressTower D 4th Floor Ibc Knowledge, Park 4/1 Bannerghatta Road, Bangalore, Karnataka, India – 560029
- IndustryInsurance, Life Insurance. Non Life Insurance
To see the full contact details of Raksha Health Insurance Tpa Private Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Raksha Health Insurance Tpa operates one associated brand: Raksha Insurance. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Health insurance TPA services and claims processing are provided. | rakshatpa.com |
Business activity
The main business activity of Raksha Health Insurance Tpa is financial and insurance service. In detail, this covers life/non-life insurance and reinsurance activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| K | Financial and insurance Service | K3 | Life/Non-life Insurance and Reinsurance activities |
To see the full business activity and turnover split of Raksha Health Insurance Tpa Private Limited, buy the company report.
Financials of Raksha Health Insurance Tpa Private Limited
FY 2024 filings availableRaksha Health Insurance Tpa Private Limited reported revenue of ₹57.56 Cr (down 11% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has declined at a compounded annual rate (CAGR) of 3% over five years, including a 11% fall in the latest year. EBITDA fell 139% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹4.78 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹7.53 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -8.3% | ||||
| Net Profit Margin | -13.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Raksha Health Insurance Tpa Private Limited, buy the company report.
Board of directors of Raksha Health Insurance Tpa Private Limited
Raksha Health Insurance Tpa has 4 current directors and 9 former directors. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Pawan Kumar Bhalla | Whole-Time Director | 01 Feb 2020 | 6 Years 8 Months | Current |
| Vijay Sankaran | Director | 25 Aug 2023 | 3 Years 2 Months | Current |
| Nikhil Chopra | Director | 25 Aug 2023 | 3 Years 2 Months | Current |
| Himanshu Rastogi Also directs: Mayfair Consultancy Services India Private Limited | Director | 25 Aug 2023 | 3 Years 2 Months | Current |
Peer comparison
Raksha Health Insurance Tpa Private Limited is compared with the 3 companies closest to it by revenue in the BFSI industry (Health Insurance, Third Party Administrators), with the same principal business activity (life/non-life insurance and reinsurance activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| HDFC Ergo Health Insurance Limited | ₹132.13 Cr (FY 2019) | 70.0% | Mumbai, Maharashtra, India | |||
| Raksha Health Insurance Tpa Private Limitedthis company | ₹57.56 Cr (FY 2024) | -₹7.53 Cr | -13.1% | -11.0% | 779 | Bangalore, Karnataka, India |
| J.B.Boda Insurance Surveyors & Loss Assessors Private Limited | ₹52.32 Cr (FY 2025) | 6.0% | Mumbai, Maharashtra, India | |||
| Volo Health Insurance Tpa Private Limited | ₹30.06 Cr (FY 2024) | 40.0% | New Delhi, Delhi, India |
To see the full peer comparison of Raksha Health Insurance Tpa Private Limited, buy the company report.
Auditor
Raksha Health Insurance Tpa Private Limited is audited by DHAWAN & ASSOCIATES for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| DHAWAN & ASSOCIATES | FY 2023 | 009813N |
Shareholding
The shareholding of Raksha Health Insurance Tpa Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Raksha Health Insurance Tpa Private Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 09 May 2005 | 90059092 | Union Bank of India | ₹10 Cr | Satisfied | |
| 22 May 2003 | 90049824 | Federal Bank Ltd. | ₹1.2 Cr | Satisfied |
To see the full charge records of Raksha Health Insurance Tpa Private Limited, buy the company report.
Total charge records: 2 View all charges
Deals & funding
Raksha Health Insurance Tpa Private Limited has 8 deals on record (5 secondary share transfers, 1 acquisition, 1 rights issue), with disclosed funding of ₹1 Cr; the latest was in August 2023.
Deals on record (5 of 8)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Aug 2023 | Secondary share transfer | Undisclosed | Buyer: Medi Assist Insurance TPA Private Limited & Satish V N Gidugu, Medi Assist Insurance Tpa Private Limited Seller: 3 individuals |
| Mar 2023 | Acquisition | Undisclosed | Buyer: Medi Assist Healthcare Services Limited |
| Jan 2020 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Oct 2018 | Secondary share transfer | Undisclosed | Buyer: 2 individuals Seller: an individual |
| Mar 2016 | Rights issue | ₹2 Cr | Investors: 4 individuals |
To see the full deal history of Raksha Health Insurance Tpa Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Raksha Health Insurance Tpa Private Limited has 56 court cases on record: 7 filed by Raksha Health Insurance Tpa, 49 filed against it. 15 cases are pending and 41 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 37 | 30 | 7 |
| High courts | 17 | 17 | 7 |
| Supreme Court | 2 | 2 | 1 |
Cases on record (5 of 56)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Rajasthan | Writ petition | Filed against the company by United India Insurance Company Limited | Pending |
| Supreme Court | Court case (0816-Letter Petition & Pil Matters : SLPs filed against judgments / orders passed by the High Courts in Writ Petitions filed as PIL) | Filed against the company by Oriental Insurance Company Limited Managing Director Oriental House A-25/27, Asaf Ali Road , District: New Delhi ,New Delhi , Delhi and 3 others | Pending |
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed against the company by The Oriental Insurance Co.Ltd | Pending |
| Allahabad High Court | Writ petition | Filed against the company by Oriental Insurance Company Limited and Another | Disposed |
| District court, Indore, Madhya Pradesh | Court case (MJC) | Filed against the company by United India Insurance Company Limited | Disposed |
To see the full case history of Raksha Health Insurance Tpa Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Raksha Health Insurance Tpa Private Limited was last rated by Crisil on 27 Aug 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Crisil | 27 Aug 2021 |
To see the full credit ratings and regulatory alerts of Raksha Health Insurance Tpa Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Raksha Health Insurance Tpa Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Employees & EPFO
Raksha Health Insurance Tpa Private Limited has a workforce of 779 employees on its EPFO records as of Apr 07, 2024, across 1 active EPFO establishment.
GST
Raksha Health Insurance Tpa has 19 GST registrations: 19 active. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AACCR3893H1ZY | Karnataka | Active | 01 Jul 2017 |
| 03AACCR3893H1ZC | Punjab | Active | 01 Jul 2017 |
| 05AACCR3893H1Z8 | Uttarakhand | Active | 01 Jul 2017 |
| 06AACCR3893H1Z6 | Haryana | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Raksha Health Insurance Tpa Private Limited, buy the company report.
Recent activity
Raksha Health Insurance Tpa Private Limited has 13 board changes on record since 2018: 4 appointments and 9 cessations. The latest: Himanshu Rastogi ceased to be Additional Director on 21 Sep 2023.
10 earlier events are in the company report.
Frequently asked questions
Raksha Health Insurance Tpa is an active private limited company based in Bangalore, Karnataka, India. The company works in life insurance. non life insurance, within the insurance industry. It was incorporated on 22 January 2002 (24+ years old) and is registered under CIN U85199KA2002PTC191278.
Raksha Health Insurance Tpa has 4 current directors:
- Pawan Kumar Bhalla - Whole-Time Director
- Vijay Sankaran - Director
- Nikhil Chopra - Director
- Himanshu Rastogi - Director
The latest financial statements of Raksha Health Insurance Tpa on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 13 September 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Raksha Health Insurance Tpa is 29AACCR3893H1ZY, registered in Karnataka. The company has 19 GST registrations in all, of which 19 are active. Other active GSTINs include 03AACCR3893H1ZC (Punjab), 05AACCR3893H1Z8 (Uttarakhand), 06AACCR3893H1Z6 (Haryana).
The CIN (Corporate Identification Number) of Raksha Health Insurance Tpa is U85199KA2002PTC191278. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Raksha Health Insurance Tpa has 56 court cases on record: 7 filed by the company and 49 filed against it. 15 are pending. Most are in the district courts.
Raksha Health Insurance Tpa was incorporated on 22 January 2002, making it 24+ years old. It is registered with the Registrar of Companies, Bangalore.
Raksha Health Insurance Tpa has 8 deals on record (5 secondary share transfers, 1 acquisition, 1 rights issue), with disclosed funding of ₹1 Cr; the latest was in August 2023.
The peers of Raksha Health Insurance Tpa by revenue are HDFC Ergo Health Insurance Limited, J.B.Boda Insurance Surveyors & Loss Assessors Private Limited, Volo Health Insurance Tpa Private Limited, all in the BFSI industry (Health Insurance, Third Party Administrators), with the same principal business activity (life/non-life insurance and reinsurance activities).
Himanshu Rastogi ceased to be Additional Director on 21 Sep 2023. Nikhil Chopra ceased to be Additional Director on 21 Sep 2023. Vijay Sankaran ceased to be Additional Director on 21 Sep 2023. Raksha Health Insurance Tpa has 13 board changes on record in total.
Raksha Health Insurance Tpa can be reached through the website rakshatpa.com. Its registered office is in Bangalore, Karnataka, India.