S
Star Health & Allied Insurance Company Ltd
STARHEALTH NSE
Star Health & Allied Insurance Company Ltd
Financial ServicesNSE: STARHEALTH BSE: 543412 Insurance
Key Fundamentals
SmallcapGeneral InsuranceInsuranceMarket Cap
₹34,338 Cr
Volatility
Moderate
P/E Ratio
40.72
EBITDA
₹834 Cr
Return on Equity
7.35%
Debt to Equity
0.06
Book Value
₹128.94
EPS
₹14.96
52W High
₹624.9
52W Low
₹416.55
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Star Health & Allied Insurance Company Ltd insights
34 extracted metrics + investor summaries across FY07–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
1- Company has reduced debt.
Weaknesses
1- Company has a low return on equity of 10.2% over last 3 years.
Growth Rate
Revenue Growth
10.68% ↘
Net Income Growth
-13.76% ↘
Cash Flow Change
35.89% ↗
ROE
-19.67% ↘
ROCE
-38.64% ↘
EBITDA Margin (Avg.)
-19.34% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAI opinion · based on fundamentals
Risk medium
Star Health & Allied Insurance is India's largest standalone health insurer with a ~32% retail health market share, reporting FY26 PAT of ₹911 crore (up 16% YoY) and GWP of ₹20,369 crore (up 16% YoY). The stock trades at a PE of 40.7x with a 3-year ROE of ~10%, reflecting premium valuation against moderate profitability in a high-growth but increasingly competitive sector.
Bull Case 8
- Market leadership with ~32% share in India's retail health insurance segment, the largest among standalone health insurers
- FY26 GWP grew 16% YoY to ₹20,369 crore, with Q1 FY27 GWP accelerating to 19% YoY growth at ₹4,287 crore
- Combined ratio improved sharply from 101.1% in FY25 to 98.8% in FY26, with Q4 FY26 at 95.7% indicating strong underwriting discipline
- FY26 IndAS PAT of ₹911 crore, up 16% YoY, with Q1 FY27 normalised PAT up 44% YoY to ₹386 crore showing accelerating momentum
- Underwriting profit surged to ₹111 crore in Q1 FY27 vs just ₹16 crore in Q1 FY26, a 7x improvement
- Long-term revenue compounding at 27% CAGR over 10 years and 29% over 5 years demonstrates durable premium growth
- Health insurance penetration in India remains low, with the segment now comprising 41% of non-life industry premiums and growing structurally
- Company has reduced debt levels, improving balance sheet flexibility for growth investments
Bear Case 8
- PE of 40.7x is elevated for a company delivering only 10% 3-year ROE, implying high expectations already priced in
- Market share has nearly halved from ~60% in FY21 to ~32% in FY26 as competition from new SAHI players intensifies
- 3-year compounded profit growth is negative at -3%, indicating earnings volatility despite premium growth
- FY26 statutory net profit declined 14% to ₹557 crore even as IndAS profit grew 16%, highlighting accounting divergence and regulatory risk
- Zero dividend yield despite ₹34,100 crore market cap, offering no income return to shareholders
- Claim settlement ratio averaged 84.97% over FY22-25 with high complaint volumes, posing reputational and regulatory risk
- Stock has delivered -2% CAGR over 3 years despite 33% rally in the last year, indicating volatile and inconsistent returns
- Fresh retail premium growth of 24% in H1 FY26 needs to sustain against aggressive pricing by competitors like Niva Bupa and Care Health
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 7h ago Positives 2
- Q1FY27 profit up 25% YoY Jul 29
Net profit rose 25.2% YoY to ₹549.7 crore in Q1FY27, driven by strong health insurance revenue growth and stable expense ratios.
- Home health care 50%+ growth Aug 18
Star Health anticipates its home health care program to grow over 50% within a year, signaling expansion of home-based services.
Neutral 4
- 97 promoter entities seek reclassification Jul 28
97 promoter/promoter group entities linked to Late Rakesh Jhunjhunwala requested reclassification to Public shareholder category. Nine additional entities made a similar request on Aug 12.
- Active global investor engagement Aug 1
Company scheduled multiple analyst/investor meetings in Hong Kong (Aug 5-6) with FMR, BlackRock, and Shikhara Investment Management, plus conferences with Motilal Oswal (Aug 17), Emkay (Aug 14), Hornbill Capital (Aug 20), and East Bridge Capital (Aug 25).
- 21st AGM on Aug 28 Aug 2
AGM scheduled for August 28, 2026 with remote e-voting opening August 25 and record date of August 21.
- Q1FY27 earnings call released Jul 30
Audio recording of Q1 FY2027 earnings call made available to investors via web link shared with stock exchanges.
TL;DR: Star Health delivered solid Q1FY27 results with 25% profit growth and stable expense ratios, while actively engaging global institutional investors across multiple conferences. No material headwinds emerged in the period. The Jhunjhunwala promoter reclassification is a structural housekeeping event with no operational impact. The trend is positive with earnings momentum and growth initiatives like home health care expansion providing a constructive outlook.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,293 | 3,461 | 3,578 | 3,688 | 3,816 | 4,058 | 4,146 | 4,081 | 4,880 | 4,378 | 4,566 | 4,648 | 5,522 |
| Expenses | 2,909 | 3,296 | 3,191 | 3,502 | 3,391 | 3,912 | 3,861 | 4,089 | 4,292 | 4,303 | 4,395 | 4,500 | 4,773 |
| Operating Profit | 384 | 165 | 387 | 186 | 425 | 147 | 285 | -7 | 588 | 75 | 172 | 148 | 749 |
| OPM % | 12% | 4.8% | 11% | 5% | 11% | 3.6% | 7% | -0.2% | 12% | 1.7% | 3.8% | 3.2% | 14% |
| Other Income | 0 | 2 | 1 | 3 | 1 | 2 | 2 | 6 | 0 | 3 | 2 | 4 | -8 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 384 | 167 | 388 | 190 | 426 | 149 | 287 | -1 | 588 | 78 | 173 | 151 | 742 |
| Tax % | 25% | 25% | 25% | 25% | 25% | 25% | 25% | -159% | 25% | 29% | 26% | 26% | 26% |
| Net Profit | 288 | 125 | 290 | 142 | 319 | 111 | 215 | 1 | 438 | 55 | 128 | 111 | 550 |
| EPS in Rs | 4.95 | 2.15 | 4.95 | 2.43 | 5.45 | 1.89 | 3.66 | 0.01 | 7.45 | 0.93 | 2.18 | 1.89 | 9.34 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,069 | 1,595 | 2,012 | 2,888 | 3,775 | 4,987 | 5,050 | 10,602 | 12,096 | 14,021 | 16,101 | 17,825 | 19,114 |
| Expenses | 1,189 | 1,439 | 1,871 | 2,673 | 3,565 | 4,544 | 6,447 | 11,962 | 11,223 | 12,840 | 15,180 | 17,001 | 17,971 |
| Operating Profit | -120 | 156 | 141 | 215 | 210 | 443 | -1,397 | -1,360 | 873 | 1,182 | 921 | 824 | 1,143 |
| OPM % | -11% | 10% | 7% | 7% | 6% | 9% | -28% | -13% | 7% | 8% | 6% | 4.6% | 6% |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | -3 | 7 | 5 | 6 | 12 | 9 | 1 |
| Interest | 1 | 2 | 3 | 20 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 19 | 18 | 20 | 23 | 28 | 29 | 46 | 43 | 52 | 59 | 71 | 79 | 0 |
| PBT | -140 | 137 | 118 | 171 | 182 | 413 | -1,446 | -1,397 | 826 | 1,129 | 861 | 754 | 1,144 |
| Tax % | 0% | 0% | 0% | 1% | 30% | 35% | -25% | -25% | 25% | 25% | 25% | 26% | — |
| Net Profit | -140 | 137 | 118 | 170 | 128 | 268 | -1,086 | -1,041 | 619 | 845 | 646 | 557 | 844 |
| EPS in Rs | -3.87 | 3.53 | 2.59 | 3.73 | 2.81 | 5.46 | -19.81 | -18.08 | 10.63 | 14.44 | 10.99 | 9.47 | 14.34 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 362 | 387 | 456 | 456 | 456 | 491 | 548 | 576 | 582 | 585 | 588 | 588 |
| Reserves | -220 | -27 | 334 | 504 | 773 | 1,153 | 2,947 | 4,045 | 4,862 | 5,799 | 6,471 | 6,987 |
| Borrowings | 0 | 0 | 0 | 250 | 250 | 250 | 250 | 720 | 470 | 470 | 470 | 470 |
| Other Liabilities | 954 | 1,012 | 1,423 | 2,138 | 3,394 | 4,233 | 6,756 | 8,174 | 9,313 | 10,914 | 13,255 | 16,019 |
| Total Liabilities | 1,096 | 1,372 | 2,213 | 3,347 | 4,872 | 6,127 | 10,501 | 13,514 | 15,226 | 17,768 | 20,785 | 24,064 |
| Fixed Assets | 46 | 62 | 77 | 92 | 85 | 90 | 183 | 113 | 217 | 159 | 357 | 404 |
| CWIP | 12 | 3 | 7 | 5 | 13 | 12 | 19 | 4 | 10 | 16 | 24 | 9 |
| Investments | 502 | 807 | 1,428 | 2,165 | 3,030 | 4,290 | 6,733 | 11,373 | 13,276 | 15,491 | 17,703 | 19,780 |
| Other Assets | 535 | 500 | 700 | 1,085 | 1,744 | 1,735 | 3,565 | 2,024 | 1,723 | 2,102 | 2,701 | 3,871 |
| Total Assets | 1,096 | 1,372 | 2,213 | 3,347 | 4,872 | 6,127 | 10,501 | 13,514 | 15,226 | 17,768 | 20,785 | 24,064 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | — | 321 | 557 | 776 | 647 | 890 | 56 | 1,276 | 1,310 | 1,379 | 1,873 |
| Investing | — | — | -497 | -663 | -731 | -1,006 | -2,418 | -3,786 | -1,097 | -1,177 | -1,151 | -1,067 |
| Financing | — | — | 310 | 249 | 333 | 122 | 2,613 | 2,509 | -268 | 23 | -4 | -31 |
| Net Cash Flow | — | — | 134 | 143 | 379 | -237 | 1,086 | -1,221 | -89 | 156 | 224 | 775 |
| Free Cash Flow | — | — | 283 | 521 | 746 | 614 | 844 | -7 | 1,229 | 1,187 | 1,297 | 1,797 |
| CFO/OP | — | — | 228 | 260 | 397 | 168 | -70 | -4 | 145 | 119 | 170 | 250 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -255 | -179 | -191 | -196 | -260 | -238 | -397 | -258 | -255 | -249 | -261 | -286 |
| ROCE % | — | 55% | 21% | 19% | 14% | 25% | -51% | -31% | 15% | 18% | 12% | 10% |
Documents
1
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4 May - Star Health and Allied Insurance Company Limited has informed about the Schedule of Group Analysts/Investors meet dated May 08, 2026 4 May - Star Health and Allied Insurance Company Limited has informed about the Schedule of Group Analysts/Investors meet dated May 08, 2026
2
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4 May - Star Health and Allied Insurance Company Limited has informed about the schedule of meet with single Analyst/Investor dated May 08, 2026. 4 May - Star Health and Allied Insurance Company Limited has informed about the schedule of meet with single Analyst/Investor dated May 08, 2026.
3
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4 May - Star Health and Allied Insurance Company Limited intimated Schedule of Analyst/Investor meet dated May 07, 2026. 4 May - Star Health and Allied Insurance Company Limited intimated Schedule of Analyst/Investor meet dated May 07, 2026.
4
Announcement under Regulation 30 (LODR)-Newspaper Publication
30 Apr - Star Health and Allied Insurance Company Limited has informed regarding copy of newspaper publication 30 Apr - Star Health and Allied Insurance Company Limited has informed regarding copy of newspaper publication
5
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4 May - Star Health and Allied Insurance Company Limited has informed about the Schedule of Group Analysts/Investors meet dated May 08, 2026 4 May - Star Health and Allied Insurance Company Limited has informed about the Schedule of Group Analysts/Investors meet dated May 08, 2026
2
Disclosure Under Regulation 31A Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015. 13 Aug 2026
General_Announcements
5
Disclosure Under Regulation 31A Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 12 Aug 2026
General_Announcements
Frequently Asked Questions about Star Health & Allied Insurance Company Ltd
What does Star Health & Allied Insurance Company Ltd do?
Star Health & Allied Insurance Ltd (Star) is India’s first Standalone Health Insurance provider and is the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in FY21 with leadership in the attractive retail health segment.[1]
Where is Star Health & Allied Insurance Company Ltd (STARHEALTH) listed?
Star Health & Allied Insurance Company Ltd is listed on the Indian stock exchanges. It is listed on NSE: STARHEALTH and BSE: 543412. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Star Health & Allied Insurance Company Ltd belong to?
Star Health & Allied Insurance Company Ltd operates in the Financial Services sector within the Insurance industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Star Health & Allied Insurance Company Ltd?
Star Health & Allied Insurance Company Ltd has a market capitalisation of approximately ₹34338.04 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Star Health & Allied Insurance Company Ltd?
The Price-to-Earnings (PE) ratio of Star Health & Allied Insurance Company Ltd is 40.72. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Star Health & Allied Insurance Company Ltd?
Over the past 52 weeks, Star Health & Allied Insurance Company Ltd has traded between a low of ₹416.55 and a high of ₹624.9. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Star Health & Allied Insurance Company Ltd?
Star Health & Allied Insurance Company Ltd has a Return on Equity (ROE) of 7.35%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Star Health & Allied Insurance Company Ltd on Tapetide?
On Tapetide, you can view Star Health & Allied Insurance Company Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Star Health & Allied Insurance Ltd (Star) is India’s first Standalone Health Insurance provider and is the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in FY21 with leadership in the attractive retail health segment.[1]