In this article, we’ll talk about Go Digit share price target for 2023, 2024, 2025, 2026, 2028, 2030, and 2040, which has recently been listed in the stock market. Along with this, we’ll also analyze the fundamentals of the company, which help you to make investment decisions.
What is Go Digit General Insurance
Go Digit General Insurance is an insurance company that serves customers in India by providing various insurance products like motor, health, travel, mobile, property, marine, liability etc. The company was established in 2016 and the promoter of the company is Kamlesh Goyal. Big personalities like Virat Kohli and Anushka Sharma have also invested in this company.
Go Digit General Insurance Listing date
Go Digit General Insurance company was listed on NSE and BSE on 23rd of this month (23 May, 2024), the issue price of the company was ₹258 – ₹272 per share.
| Details | Values |
|---|---|
| Open Date | 15 May, 2024 |
| Close Date | 17 May, 2024 |
| Lot Size | 55 |
| Minimum Investment | ₹14,960.00 |
| Issue Price | ₹258 – ₹272 |
| Listing Date | 23 May, 2024 |
| Listing On | BSE, NSE |
| Issue Size | ₹2,614.65 Cr |
| Face Value | ₹10 |
| Total Shares Offered | 96,126,687 |
| Offered To Public | 9,612,669 |
| Retail Max (Shares/Amount) | 770 / ₹209,440 |
Go Digit General Insurance Share Price History
The company has been listed in the Indian share market just a few days ago, after the listing itself there has been a good jump in its share price. Today on 26 May 2024, the share price of the company is Rs 300. The company’s share price has increased by Rs 14 since listing.
Go Digit General Insurance Share Price Growth Chart
Go Digit General Insurance Fundamental
The company’s fundamentals are week and its market cap is ₹27346 crore. Although the profitability metrics are low, with an ROE of 1.09% and ROCE of 1.61%, this suggests that Go Digit General Insurance is currently able to generate modest returns on its equity and capital employed. The P/B ratio of 7.73 indicates that the market values the company more than its book value. This could mean that investors’ confidence in future growth will increase.
The company has registered a sales growth of 53.24% compared to last year. With this, the company has taken a huge leap with profit growth of 112%. The company’s EPS is 0.39 which suggests that the company is either breaking even or reinvesting its profits back into the business, which is common for growth-focused companies. but it also means that it is not currently generating distributable income.
| Company Name | Go Digit General Insurance Ltd. |
| Sector | Life & Health Insurance |
| Website | godigit.com |
| Mkt Cap | ₹27,346Cr |
| Listing At | NSE and BSE |
| ROE | 1.09% |
| ROCE | 1.61% |
| 52 Week High | 314.00 |
| 52 Week Low | 280.00 |
| P/E Ratio (TTM) | 764.49 |
| P/B Ratio | 7.73 |
| Face Value | 10 |
| Book Value | 38.59 |
| EPS (TTM) | 0.39 |
| Dividend Yield | 0.00% |
| Net Sales | 5,886 |
| Sales Growth | 53.24% |
| Net Profit (Anual) | 35.55 |
| Profit Growth | 112% |
Go Digit General Insurance Profit/Loss – Last 3 Years Report
Income Report
| INCOME | Mar 23 (Rs. Cr.) | Mar 22 (Rs. Cr.) | Mar 21 (Rs. Cr.) |
|---|---|---|---|
| Period | 12 months | 12 months | 12 months |
| Revenue From Operations [Gross] | 5,163.67 | 3,404.23 | 1,943.69 |
| Less: Excise/Service Tax/Other Levies | 0.00 | 0.00 | 0.00 |
| Revenue From Operations [Net] | 5,163.67 | 3,404.23 | 1,943.69 |
| Other Operating Revenues | 110.99 | 87.74 | 75.29 |
| Total Operating Revenues | 5,274.67 | 3,491.97 | 2,018.98 |
| Other Income | 611.03 | 349.00 | 233.01 |
| Total Revenue | 5,885.70 | 3,840.97 | 2,251.99 |
Expenses
| EXPENSES | Mar 23 | Mar 22 | Mar 21 |
|---|---|---|---|
| 12 months | 12 months | 12 months | |
| Cost Of Materials Consumed | 0.00 | 0.00 | 0.00 |
| Purchase Of Stock-In Trade | 0.00 | 0.00 | 0.00 |
| Purchase of Crude Oil And Others | 0.00 | 0.00 | 0.00 |
| Cost of Power Purchased | 0.00 | 0.00 | 0.00 |
| Cost Of Fuel | 0.00 | 0.00 | 0.00 |
| Aircraft Fuel Expenses | 0.00 | 0.00 | 0.00 |
| Aircraft Lease Rentals | 0.00 | 0.00 | 0.00 |
| Operating And Direct Expenses | 0.00 | 0.00 | 0.00 |
| Changes In Inventories Of FG, WIP And Stock-In Trade | 0.00 | 0.00 | 0.00 |
| Employee Benefit Expenses | 224.56 | 182.99 | 132.38 |
| Finance Costs | 21.49 | 12.38 | 7.61 |
| Provisions and Contingencies | 0.00 | -0.05 | 0.00 |
| Depreciation And Amortisation Expenses | 15.14 | 12.45 | 8.97 |
| Miscellaneous Expenses Written Off | 0.00 | 0.00 | 0.00 |
| Other Expenses | 5,588.97 | 3,929.06 | 2,225.79 |
| Less: Inter Unit / Segment / Division Transfer | 0.00 | 0.00 | 0.00 |
| Less: Transfer to / From Investment / Fixed Assets / Others | 0.00 | 0.00 | 0.00 |
| Less: Amounts Transfer To Capital Accounts | 0.00 | 0.00 | 0.00 |
| Less: Share of Loss From Partnership Firm | 0.00 | 0.00 | 0.00 |
| Total Expenses | 5,850.15 | 4,136.82 | 2,374.75 |
Go Digit General Insurance Profit/Loss
Go Digit’s total revenue in 2023 was Rs 5885.70 on which the company had a profit of Rs 35.5Cr. If we look at the company’s revenue of the previous two years, its total revenue in 2021 and 2022 was Rs 3840.97Cr and Rs 2251.99Cr respectively, in both these years the company had a loss of Rs 122.76Cr and Rs 295.85 Cr respectively.
| Profit & Tax Details | Mar 23 (Rs. Cr.) | Mar 22 (Rs. Cr.) | Mar 21 (Rs. Cr.) |
|---|---|---|---|
| Profit/Loss Before Exceptional, Extraordinary Items And Tax | 35.55 | -295.85 | -122.76 |
| Exceptional Items | 0.00 | 0.00 | 0.00 |
| Profit/Loss Before Tax | 35.55 | -295.85 | -122.76 |
| Profit/Loss After Tax And Before Extraordinary Items | 35.55 | -295.85 | -122.76 |
| Profit/Loss From Continuing Operations | 35.55 | -295.85 | -122.76 |
| Profit/Loss For The Period | 35.55 | -295.85 | -122.76 |
Other Additional Information
| EARNINGS PER SHARE | Mar 23 | Mar 22 | Mar 21 |
|---|---|---|---|
| Period | 12 months | 12 months | 12 months |
| Basic EPS (Rs.) | 0.41 | -3.55 | -1.50 |
| Diluted EPS (Rs.) | 0.40 | -3.55 | -1.50 |
Go Digit General Insurance Balance Sheet – Last 3 Years Report
Equitie and Liabilities
| SHAREHOLDER’S FUNDS | Mar 23 (Rs. Cr.) | Mar 22 (Rs. Cr.) | Mar 21 (Rs. Cr.) |
|---|---|---|---|
| 12 months | 12 months | 12 months | |
| Equity Share Capital | 874.02 | 859.01 | 824.69 |
| Preference Share Capital | 0.00 | 0.00 | 0.00 |
| Total Share Capital | 874.02 | 859.01 | 824.69 |
| Revaluation Reserves | 0.00 | 0.00 | 0.00 |
| Reserves and Surplus | 1,565.14 | 1,118.61 | 378.30 |
| Total Reserves and Surplus | 1,565.14 | 1,118.61 | 378.30 |
| Money Received Against Share Warrants | 0.00 | 0.00 | 0.00 |
| Employees Stock Options | 0.00 | 0.00 | 0.00 |
| Total Shareholders Funds | 2,439.16 | 1,977.62 | 1,202.99 |
| Equity Share Application Money | 0.00 | 0.00 | 23.88 |
| Preference Share Application Money | 0.00 | 0.00 | 0.00 |
| Share Capital Suspense | 0.00 | 0.00 | 0.00 |
| Hybrid/Debt/Other Securities | 0.00 | 0.00 | 0.00 |
| Statutory Consumer Reserves | 0.00 | 0.00 | 0.00 |
| Special Appropriation Towards Project Cost | 0.00 | 0.00 | 0.00 |
| Service Line Contribution From Consumers | 0.00 | 0.00 | 0.00 |
| Government/Other Grants | 0.00 | 0.00 | 0.00 |
| NON-CURRENT LIABILITIES | |||
| Long Term Borrowings | 0.00 | 0.00 | 0.00 |
| Deferred Tax Liabilities [Net] | 0.00 | 0.00 | 0.00 |
| Other Long Term Liabilities | 2.28 | 0.53 | 2.91 |
| Long Term Provisions | 0.00 | 0.00 | 0.00 |
| Total Non-Current Liabilities | 2.28 | 0.53 | 2.91 |
| Foreign Currency Monetary Item Translation Difference A/C | 0.00 | 0.00 | 0.00 |
| CURRENT LIABILITIES | |||
| Short Term Borrowings | 0.00 | 0.00 | 0.00 |
| Trade Payables | 0.00 | 0.00 | 0.00 |
| Other Current Liabilities | 7,982.46 | 5,751.84 | 3,236.35 |
| Short Term Provisions | 3,065.66 | 2,317.75 | 1,537.99 |
| Total Current Liabilities | 11,048.12 | 8,069.58 | 4,774.34 |
| Total Capital And Liabilities | 13,489.56 | 10,047.73 | 6,004.12 |
ASSETS
| NON-CURRENT ASSETS | Mar 23 (Rs. Cr.) | Mar 22 (Rs. Cr.) | Mar 21 (Rs. Cr.) |
|---|---|---|---|
| 12 months | 12 months | 12 months | |
| Tangible Assets | 160.61 | 124.73 | 21.58 |
| Intangible Assets | 0.00 | 0.00 | 0.00 |
| Capital Work-In-Progress | 1.40 | 23.77 | 80.83 |
| Intangible Assets Under Development | 0.00 | 0.00 | 0.00 |
| Other Assets | 0.00 | 0.00 | 0.00 |
| Construction Stores | 0.00 | 0.00 | 0.00 |
| Mining Development Expenditure | 0.00 | 0.00 | 0.00 |
| Assets Held For Sale | 0.00 | 0.00 | 0.00 |
| Fixed Assets | 162.00 | 148.50 | 102.41 |
| Non-Current Investments | 12,389.06 | 9,247.36 | 5,430.22 |
| Deferred Tax Assets [Net] | 0.00 | 0.00 | 0.00 |
| Long Term Loans And Advances | 0.00 | 0.00 | 0.00 |
| Other Non-Current Assets | 0.00 | 0.00 | 0.00 |
| Total Non-Current Assets | 12,551.06 | 9,395.86 | 5,532.63 |
| Foreign Currency Monetary Item Translation Difference A/C | 0.00 | 0.00 | 0.00 |
| CURRENT ASSETS | |||
| Current Investments | 0.00 | 0.00 | 0.00 |
| Inventories | 0.00 | 0.00 | 0.00 |
| Trade Receivables | 0.00 | 0.00 | 0.00 |
| Cash And Cash Equivalents | 279.30 | 146.52 | 159.89 |
| Short Term Loans And Advances | 659.19 | 505.35 | 311.60 |
| Other Current Assets | 0.00 | 0.00 | 0.00 |
| Total Current Assets | 938.49 | 651.87 | 471.49 |
| Total Assets | 13,489.56 | 10,047.73 | 6,004.12 |
Go Digit Share Price Target 2024, 2025, 2026, 2028, 2030, and 2040
Go Digit Share Price Target 2023
Go Digit was not listed in the stock market in 2023, this company was listed in the stock exchange on 23 May 2024.
Go Digit Share Price Target 2024
| Month | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| January | – | – |
| February | – | – |
| March | – | – |
| April | – | – |
| May | 300 | 304 |
| June | 303 | 312 |
| July | 301 | 308 |
| August | 308 | 316 |
| September | 315 | 324 |
| October | 322 | 335 |
| November | 332 | 345 |
| December | 344 | 355 |
Also Read: IRFC Share Price Target 2024, 2025, 2026, 2028, 2040 and 2050
Go Digit Share Price Target 2025
| Month | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| January | 353 | 362 |
| February | 360 | 376 |
| March | 366 | 372 |
| April | 355 | 367 |
| May | 367 | 381 |
| June | 380 | 398 |
| July | 395 | 408 |
| August | 400 | 406 |
| September | 405 | 416 |
| October | 415 | 432 |
| November | 422 | 430 |
| December | 428 | 444 |
Go Digit Share Price Target 2026
| Month | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| January | 435 | 440 |
| February | 438 | 452 |
| March | 450 | 468 |
| April | 458 | 469 |
| May | 449 | 460 |
| June | 455 | 472 |
| July | 470 | 486 |
| August | 485 | 502 |
| September | 494 | 504 |
| October | 500 | 512 |
| November | 510 | 524 |
| December | 520 | 542 |
Go Digit Share Price Target 2028
| Month | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| January | 624 | 636 |
| February | 633 | 642 |
| March | 628 | 636 |
| April | 635 | 652 |
| May | 650 | 668 |
| June | 665 | 682 |
| July | 673 | 683 |
| August | 680 | 698 |
| September | 695 | 704 |
| October | 700 | 714 |
| November | 706 | 710 |
| December | 708 | 722 |
Also Read: Jio Financial Services Share Price Target 2024, 2025, 2026, 2030, 2040, 2050
Go Digit Share Price Target 2030
| Month | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| January | 943 | 955 |
| February | 954 | 976 |
| March | 966 | 975 |
| April | 974 | 988 |
| May | 985 | 1005 |
| June | 994 | 1002 |
| July | 1000 | 1020 |
| August | 1015 | 1037 |
| September | 1024 | 1036 |
| October | 1035 | 1054 |
| November | 1050 | 1080 |
| December | 1072 | 1088 |
Go Digit Share Price Target 2040
| Month | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| January | 1889 | 1905 |
| February | 1900 | 1912 |
| March | 1905 | 1922 |
| April | 1900 | 1914 |
| May | 1912 | 1932 |
| June | 1930 | 1955 |
| July | 1944 | 1952 |
| August | 1950 | 1980 |
| September | 1974 | 1988 |
| October | 1985 | 2006 |
| November | 2000 | 2022 |
| December | 2015 | 2032 |
How to Buy Go Digit Share
Before buying or selling shares of Go Digit General Insurance Company, you will have to open a demat account. There are many brokers registered by SEBI in India. Names of some brokers are mentioned below. Investors can open their demat account and buy shares of any company in NSE and BSE market.
- Zerodha
- Groww
- Angel One
- Upstox
Shareholding Pattern of Go Digit
| Promoter & Promoter Group | 73.58 |
| Other Domestic Institutions | 12.27 |
| Retail and Others | 7.33 |
| Foreign Institutions | 4.31 |
| Mutual funds | 2.50 |
| Total | 100.00 |
Latest News
1. Based on gray market activity in the last 12 sessions, investorgain claims that the current GMP for the company’s IPO is indicating below ₹22.50.
2. According to Mint, Brokerage firm has given Sell rating which indicates 31.4% decline in its shares. Due to which its share will reach ₹ 210.
Opinion of market expert Anil Singhvi
Strengths
- As of December 31, 2023, the company had approximately 61,972 principal distribution partners, including 58,532 POSPs, individual agents, corporate agents and brokers. Additionally, it serves customers through its website and web aggregators.
- The company’s paperless processes reduce the hassle of applying for coverage and submitting claims, making its insurance simple.
- As of December 31, 2023, the company had 43.26 million customers, which included 27.74 million motor insurance customers, 14.97 million health insurance customers (including personal accident and travel), and 0.55 million customers for other insurance products.
- According to RHP, the company has developed predictive underwriting models, these models help identify and target more profitable markets and customers, allowing accurate pricing of coverage.
- The company’s Net Promoter Score as of December 31, 2023 was 73.3% for non-claims and 93.1% for promoter claims, indicating high customer satisfaction.
- Assets under management (AUM) increased to ₹14909 crore as on December 31, 2023 from ₹12,668 crore as on March 31, 2023.
Risks
- The company reported losses of Rs 295.85 crore and Rs 122.76 crore in financial years 2021 and 2022, respectively.
- Due to its limited operating history, it is challenging to accurately evaluate the company’s future business prospects.
- The brokerage firm rated the company’s valuation on Dalal Street as high, and predicted the valuation will fall.
- There are several legal proceedings underway against the promoters and directors of the company, judgments against the company may have an adverse impact on the business and future prospects of the company.
- In the past, the company has received warnings and show cause notices from the Insurance Regulatory and Development Authority of India (IRDAI). In some cases, IRDAI has also imposed fines, which will have a negative impact.
- A large part of the company’s business is concentrated in certain regions of India. Due to which 54.7% of the company’s revenue for FY 2023 was from the states/union territories of Maharashtra, Karnataka and Delhi.
Points to Consider Before Investing
1. People are seeing the company only as an insurance provider.
2. Currently Go digit’s FY26E P/E is 49.6x and P/B is 5.9.
3. This stock is expensive compared to companies with an established business model and strong retail franchises.
4. Brokerage firm has said that the valuation of the company is high and its shares may see a decline in the future.
5. The company was in loss for the last 3 years except 2023.
6. The history of this company is short which makes it very difficult to forecast its price.
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Conclusion
Go digit has recently been registered on BSE and NSE. At present the company’s shares are overvalued, which is likely to come down. Its fundamentals are not so good, so do your own research. Investing for short term can give you loss, but for long term you can invest in it.
Disclaimer – Please note that we are not SEBI-registered advisors. Our post is for educational purposes only. Therefore, before investing in any share, take advice from a SEBI certified expert. If you invest, you yourself will be responsible for your profit and loss, not us.
Q1. Why Go Digit share price increase
Ans. Go Digit has recently launched its IPO. There has been a boom in the market since its launch because after being listed in the Indian Stock Exchange, information about it is easily reaching people and people are also showing interest in its shares.
Q2. Who is the ceo of Go Digit General Insurance?
Ans. Jasleen Kohali is the ceo of Go Digit General Insurance.
Q3. Go Digit share price target 2024
Ans. The minimum share price of Go Digit in 2024 is expected to be ₹265 and maximum ₹355.
Q4. Go Digit share price target 2025
Ans. Go Digit share price target in 2025 is expected to be between ₹353 to ₹444
Q5. Go Digit share price target 2030
Ans. Go Digit stock is likely to have a maximum share price target of ₹1088 in 2030
Q6. Is Go Digit a good share to buy?
Ans. Is it a good share to buy? It depends on your investment strategy and risk tolerance:
Whether Go Digit share is good or not depends on your investment strategy and risk tolerance. If you believe in the long-term growth potential of the insurance sector in India and the innovative approach of Go Digit, it could be a good investment despite high valuations. But if you are looking for undervalued stocks with strong current financial metrics , you may find high P/B ratios and low profitability metrics less attractive.
Q7. What is the Market Cap of Go Digit General Insurance?
Ans. The Market Cap of Go Digit is 27,411 Cr on 2 june 2024.