HDFC Bank Limited
NSE: HDFCBANK
Financial Services · Banks - Regional
₹710.70 last close on 14 Oct 2026 −0.46%
Research updated
Go Digit General Insurance Ltd.
NSE: GODIGITFinancial ServicesInsurance - Property & Casualty
- Last close
- ₹284.00
- Day change
- +₹3.15 (+1.12%)vs
- Market cap
- ₹26,196 crIndian rupees
- Research updated
- 1 report
About Go Digit General Insurance
Go Digit General Insurance Ltd. is a prominent entity in the insurance industry, offering a diverse range of general insurance products. The primary function of the company is to provide comprehensive insurance solutions that include health, vehicle, travel, and home insurance, tailored to meet the unique needs of its clients. Go Digit General Insurance is noted for its customer-centric approach and digital-first model, which simplifies the purchasing and claims processes for policyholders through an intuitive online platform. This cutting-edge use of technology not only enhances customer experience but also improves operational efficiency, making insurance more accessible to a broader audience. The company's offerings significantly impact sectors such as healthcare, automotive, travel, and real estate, providing security and peace of mind to individuals and businesses alike. With its innovative strategies and robust product line, Go Digit General Insurance Ltd. plays a crucial role in the financial market as an agile and responsive player, promoting risk management and financial stability.
- Sector
- Financial Services
- Industry
- Insurance - Property & Casualty
- Listing
- NSE: GODIGIT
- Chief executive
- Ms. Jasleen Kohli
- Employees
- 4,589
- Headquarters
- Bengaluru, India
- ISIN
- INE03JT01014
- Website
- godigit.com
Public research · Report of
Business model & financial foundation
Go Digit (NSE: GODIGIT), Insurance - Non Life (multi-line general insurer): revenue of ₹9,926 crore in FY26 (+5.9% on FY25) and net profit of ₹544.4 crore.
- Revenue, FY26 (₹ crore)
- 9,926
- consolidated
- Revenue growth, FY26
- +5.9%
- on FY25
- Net profit, FY26 (₹ crore)
- 544.4
- to owners
- Return on equity, FY26
- 11.7%
- on average equity
- Market capitalisation (₹ crore)
- 23,196
- at the close of 15 Oct 2026
Company profile
Go Digit is a digital-first multi-line general insurer founded in 2016 by Kamesh Goyal and backed by Fairfax Financial. It sells motor (about 62% of FY26 gross direct premium), health, fire, marine and liability insurance mainly through 81,000+ intermediaries and API-integrated partners. FY26 gross written premium was INR 11,294 cr, a 3.4% market share, with a motor share of 6.3%. Earnings come from a combined ratio above 100% offset by investment income on a INR 22,900 cr float.
| Item | Value |
|---|---|
| Legal name | Go Digit General Insurance Limited (formerly Oben General Insurance Limited) |
| Exchange and ticker | NSE: GODIGIT; BSE: 544179 |
| ISIN | INE03JT01014 |
| CIN | L66010PN2016PLC167410 |
| Sector | Financial Services |
| Industry | Insurance - Non Life (multi-line general insurer) |
| Headquarters | Bengaluru, India |
| Fiscal year end | March |
| Reporting basis and unit | standalone, in ₹ crore |
| Auditor | Kirtane & Pandit LLP and PKF Sridhar & Santhanam LLP (joint statutory auditors) (since FY22 / FY23) |
| Market capitalisation | ₹23,196 crore (15 Oct 2026) |
| Shares outstanding | 92.43 crore shares (FY26) |
| Price | ₹284.0 (close, 15 Oct 2026) |
| 52-week range | ₹231.6 - ₹374.0 (to 15 Oct 2026) |
| Website | https://www.godigit.com |
Corporate structure and shareholding
Parent: Go Digit Infoworks Services Pvt Ltd (72.98%); ultimate: Fairfax Financial Holdings (via FAL Corp) and Kamesh Goyal.
No subsidiary is recorded.
No subsidiaries. Infoworks is owned by FAL Corporation 47.99%, Oben Ventures LLP 37.05%, Kamesh Goyal 14.96%. A scheme merging Infoworks into the listed company (board 19 Dec 2025) gives Fairfax ~57.3% directly; NCLT/IRDAI approvals pending Sep 2026. On 14 Oct 2026 Fairfax proposed contributing its Digit stakes to IDBI Bank at market price.
| Shareholding (% of shares) | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoter | 73.09% | 73.03% | 73.01% | 73.00% |
| Promoter holding pledged | 0.00% | 0.00% | 0.00% | 0.00% |
| Foreign institutions | 8.47% | 8.26% | 8.01% | 8.23% |
| Domestic institutions | 14.13% | 14.34% | 14.62% | 15.01% |
| of which mutual funds | 7.00% | 8.02% | 8.28% | 8.86% |
| Retail | 4.31% | 4.38% | 4.35% | 3.76% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
Go Digit is a digital-first multi-line general insurer, founded in 2016 by Kamesh Goyal and backed by Fairfax. FY26 GWP was Rs11,294 cr and GDPI Rs9,846 cr.
- Mix. Motor is about 69% of FY26 GDPI: OD Rs2,575 cr and TP Rs4,189 cr. Health/travel/PA is Rs1,415 cr, fire Rs650 cr and others Rs341 cr.
- Distribution. It sells almost entirely through 81,124 intermediaries and API partners.
- Profit engine. It underwrites at a loss: the IGAAP combined ratio was 110.7% in FY26 and 112.3% in Q1 FY27. Investment income on a Rs22,922 cr float covers the loss (FY26 Rs1,512 cr against an underwriting loss of Rs866 cr).
- What it controls and what it does not. It controls pricing on OD, health and commercial lines, plus the reinsurance programme. It does not control motor TP tariffs, which are unchanged for about five years, or the EOM limits.
- Structure. No subsidiaries. 72.98% is held by Go Digit Infoworks, which is owned by FAL (Fairfax) 47.99%, Oben Ventures 37.05% and Goyal 14.96%.
| Peer | Why the dossier compares them |
|---|---|
| ICICI Lombard General Insurance (ICICIGI) | |
| Star Health and Allied Insurance (STARHEALTH) | |
| Niva Bupa Health Insurance (NIVABUPA) | Recently listed high-growth health insurer; growth-insurer comparator |
| The New India Assurance Company (NIACL) | Largest public-sector multi-line insurer; motor and fire competitor |
| General Insurance Corporation of India (GICRE) | Domestic reinsurer; reprices Digit's treaty and fire risk |
| Bajaj General Insurance (part of Bajaj Finserv) | Private multi-line peer of similar mix; unlisted, financials via Bajaj Finserv |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total revenue (NEP + investment income) | n.r. | 5,886 | 8,145 | 9,371 | 9,926 |
| Other operating costs (vendor classification) * | 1,008 | 1,738 | 653.5 | 774.7 | |
| EBIT * | -283.5 | 57.0 | 494.2 | 708.2 | |
| Finance cost * | 12.4 | 21.5 | 69.3 | 76.5 | |
| Profit before tax (IGAAP) | -295.9 | 35.5 | 181.7 | 424.9 | 631.7 |
| Tax | 0.00 | 0.00 | 0.00 | 0.00 | 87.3 |
| Profit after tax (IGAAP) | -295.9 | 35.5 | 181.7 | 424.9 | 544.4 |
| Diluted EPS (INR) | -3.23 | 0.40 | 2.05 | 4.62 | 5.88 |
| Gross written premium (1/n basis from 1 Oct 2024) | 7,243 | 9,016 | 10,282 | 11,294 | |
| Net written premium | 5,909 | 7,731 | 8,231 | 8,321 | |
| Net earned premium | 5,164 | 7,096 | 8,046 | 8,414 | |
| Net claims incurred | 3,471 | 4,990 | 5,859 | 6,133 | |
| Net commission + operating expenses (insurance) | 2,375 | 2,968 | 3,006 | 3,147 | |
| Underwriting result (IGAAP: NEP - claims - commission & opex) | -682.0 | -862.0 | -819.0 | -866.0 | |
| Investment income (policyholder + shareholder, incl. gains) | 722.0 | 1,049 | 1,325 | 1,512 | |
| Other income less shareholder expenses (residual) | -4.50 | -5.30 | -81.1 | -14.3 |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total equity * | 2,919 | 3,347 | 4,612 | 4,686 | |
| Borrowings * | 350.0 | 350.0 | |||
| Cash and cash equivalents * | 146.5 | 279.3 | 239.1 | 219.2 | |
| Trade payables * | 0.53 | 342.2 | 268.3 | 252.1 | |
| Net property, plant and equipment * | 9.76 | 11.2 | 11.5 | ||
| Capital work in progress * | 1.40 | 0.97 | 3.37 | ||
| Total assets * | 21,760 | 24,952 |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Free cash flow (vendor definition) * | 2,429 | 2,229 | 1,586 | 2,008 | |
| Capital expenditure (the provider's sign: an outflow is negative) * | -49.9 | -20.4 | -17.4 |
| Other reported lines (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shares outstanding * | 91.72 | 91.72 | 88.63 | 91.43 | 92.43 |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Total revenue (NEP + investment income) | 2,235 | 2,436 | 2,595 | 2,225 | 2,462 | 2,546 | 2,693 | 2,421 |
| Other operating costs (vendor classification) * | 90.1 | 113.6 | 61.0 | 45.6 | 78.3 | 84.3 | 61.7 | |
| Profit before tax (IGAAP) | 89.5 | 118.5 | 115.6 | 160.7 | 136.0 | 162.9 | 172.1 | 115.5 |
| Tax | 0.00 | 0.00 | 0.00 | 22.3 | 19.0 | 22.8 | 23.2 | 29.1 |
| Profit after tax (IGAAP) | 89.5 | 118.5 | 115.6 | 138.3 | 117.0 | 140.1 | 149.0 | 86.4 |
| Diluted EPS (INR) * | 0.96 | 1.28 | 1.25 | 1.49 | 1.27 | 1.51 | 1.61 | 0.93 |
| Gross written premium (1/n basis from 1 Oct 2024) | 2,369 | 2,677 | 2,576 | 2,982 | 2,667 | 2,909 | 2,736 | 2,731 |
| Net written premium (GWP x reported retention) | 1,928 | 2,243 | 2,032 | 1,950 | 2,110 | 2,147 | 2,114 | 2,095 |
| Net earned premium | 1,891 | 2,084 | 2,247 | 1,865 | 2,088 | 2,160 | 2,301 | 2,007 |
| Net claims incurred (loss ratio x NEP) | 1,335 | 1,519 | 1,719 | 1,311 | 1,524 | 1,566 | 1,732 | 1,471 |
| Net commission + operating expenses ((COR - LR) x NWP) | 802.2 | 789.7 | 706.7 | 746.9 | 810.1 | 820.1 | 769.9 | 816.9 |
| Underwriting result (IGAAP) | -246.2 | -224.9 | -178.6 | -193.0 | -246.3 | -226.1 | -200.6 | -281.1 |
| Investment income (policyholder + shareholder, incl. gains) | 344.0 | 352.0 | 348.0 | 360.0 | 374.0 | 386.0 | 392.0 | 414.0 |
| Other income less shareholder expenses (residual) | -8.30 | -8.60 | -53.8 | -6.30 | 8.30 | 3.00 | -19.3 | -17.4 |
Consolidated, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue growth | 38.4% | 15.1% | 5.9% | ||
| Net margin | 0.6% | 2.2% | 4.5% | 5.5% | |
| Return on equity | -12.3% | 1.1% | 9.2% | 11.7% | |
| Return on assets | 2.0% | 2.3% | |||
| EPS, diluted (₹) | -3.23 | 0.40 | 2.05 | 4.62 | 5.88 |
| Book value per share (₹) | 31.83 | 36.49 | 50.45 | 50.70 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on assets: net profit to owners / average total assets.
- EPS, diluted (₹): as reported (Diluted EPS (INR)).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 1, information to 15 Oct 2026); market data at the close of 15 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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What the full research on Go Digit General Insurance includes
Every piece of Mool’s research is built the same way: a researched evidence base, analyses that build on each other, a research model and a report with the call. This page shows the first analysis.
The report and Mool’s call
- The 12-month rating and target
- The 3-month view
- Mool's estimates beside the street's
- The claims the view rests on, and what would change it
The analyses, among them
- Business model & financial foundationOn this pageWhat the company does and how it makes money, its structure, five years of financials and the metrics that matter for it.
- Future earnings & financial modelForecasts built from the drivers that move the business, by scenario, beside the street's.
- Fundamental valuation & 12-month thesisWhat the business is worth on several methods, what the market already prices in and the 12-month thesis that follows.
The research model
The model behind the report: the company’s history, the drivers that move it, its forecasts by scenario and the valuation the 12-month target comes from.
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Report history
Reports on Go Digit General Insurance
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Prices are the last close on the NSE, 14 Oct 2026. Research from Mool’s report of 15 Oct 2026; page updated 15 Oct 2026.
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