Star Health & Allied Insurance Company Ltd

STARHEALTH

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Market Cap

₹ 27,549 Cr

P/E

51.68

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Performance

UNDER PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

MODERATE MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Star Health and Allied Insurance Company Limited is India's first standalone health insurance provider, offering health, personal accident, and overseas travel insurance policies through a vast distribution network.

The company showed a 12% YoY growth in gross written premium, reaching Rs. 8,809 crore for H1 FY2026, with a notable 24% increase in fresh retail premiums and a high renewal persistency of 98%.

Star Health's operating costs have improved significantly, reducing the expense ratio from 31.1% to 29.7%, attributing to various investments in technology and increased manpower productivity.

The company is leveraging digital channels for growth, experiencing a 47% increase in fresh premiums from digital sources, indicating a strategic shift towards online and app-based engagement with customers.

Star Health has effectively exited unprofitable segments and repriced large parts of its portfolio, leading to reduced loss ratios and enhanced profitability despite competitive market conditions.

Sector

Insurance

Industry

General Insurance

Market Cap

27,549 Cr

Volatility

Low Risk

P/E Ratio

51.7

Industry P/E

18.1

PEG Ratio

1.9

P/B Ratio

3.7

52W High

533.90

52W Low

330.05

Sales CAGR

14.83%

14.87%

26.13%

10Y

—

Profit CAGR

-23.57%

—

19.23%

10Y

—

ROE

TTM

7.16%

10.39%

-0.05%

10Y

—

ROCE

TTM

8.87%

14.93%

1.04%

10Y

—

Technicals

‌

Forecasts

No. of Analysts

28

1Y Price Target

512.23 ▲ 10.61%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Nov 14, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GICRE	380.30	67,106 Cr	7.01	0.99	2.61	14.17	11.80	4.32
MFSL	1696.15	58,575 Cr	357.32	11.04	0.00	3.04	3.53	0.10
GODIGIT	347.20	32,242 Cr	63.46	6.96	0.00	10.97	10.50	2.18
NIACL	167.00	27,571 Cr	23.73	0.96	1.08	4.03	2.35	0.97
STARHEALTH	467.50	27,549 Cr	51.68	3.70	0.00	7.16	8.87	2.51
NIVABUPA	74.99	13,813 Cr	149.56	3.63	0.00	2.43	2.28	0.87
CANHLIFE	123.50	11,733 Cr	100.41	7.73	0.32	12.30	0.46	0.26

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	3,190	3,357	3,456	3,577	3,692	3,914	4,001	3,987	4,115	4,266
Expenses	2,898	3,284	3,179	3,487	3,380	3,899	3,849	4,073	3,867	4,285
Operating Profit	292	73	277	90	312	16	153	-87	249	-19
OPM %	9.14	2.17	8.01	2.52	8.45	0.40	3.81	-2.18	6.04	-0.45
Other Income	93	94	111	100	114	133	134	86	103	97
Interest	—	—	—	—	—	—	—	—	—	—
Depreciation	—	—	—	—	—	—	—	—	—	—
Profit Before Tax	384	167	388	190	426	149	287	-0.87	352	78
Tax %	—	—	—	—	—	—	—	—	—	—
Net Profit	288	125	290	142	319	111	215	0.51	263	55
EPS in Rs	4.78	2.09	4.84	2.38	5.43	1.87	3.62	0.01	4.42	0.92

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	3,714	4,885	4,877	10,289	11,763	13,579	15,594	16,017
Expenses	3,549	4,525	6,358	11,871	11,057	12,848	15,201	15,687
Operating Profit	165	361	-1,481	-1,582	706	731	393	330
OPM %	4.44	7.38	-30.37	-15.38	6.00	5.38	2.52	2.06
Other Income	18	53	35	185	120	398	468	457
Interest	—	—	—	—	—	—	—	0.00
Depreciation	—	—	—	—	—	—	—	0.00
Profit Before Tax	182	413	-1,446	-1,397	826	1,129	861	787
Tax %	—	—	—	—	—	—	—	25.09
Net Profit	128	268	-1,086	-1,041	619	845	646	589
EPS in Rs	—	—	—	-10.78	10.28	14.08	10.92	8.97
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	456	491	548	576	582	585	588
Reserves	937	1,154	3,672	5,810	5,993	6,085	6,471
Borrowings	250	250	250	720	470	470	470
Other Liabilities	3,230	4,232	6,756	8,174	9,313	10,914	13,255
Total Liabilities	4,872	6,127	11,226	15,279	16,358	18,054	20,785
Fixed Assets	98	102	99	117	111	175	185
CWIP	13	12	19	4.00	9.93	16	24
Investments	3,030	4,290	6,837	11,373	13,392	15,491	17,898
Other Assets	1,731	1,723	3,546	2,019	1,713	2,085	2,677
Total Assets	4,872	6,127	10,501	13,514	15,226	17,768	20,785

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	776	647	890	56	1,276	1,310	1,379
Cash from Investing Activity	-731	-1,006	-2,418	-3,786	-1,097	-1,177	-1,151
Cash from Financing Activity	333	122	2,613	2,509	-268	23	-4.19
Net Cash Flow	379	-237	1,086	-1,221	-89	156	224

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	58.28%	58.28%	58.25%	58.02%	57.94%	57.92%	57.90%	57.69%	57.68%	57.67%	58.04%	58.02%
FIIs	35.52%	35.24%	33.10%	30.63%	31.00%	26.57%	21.58%	17.65%	17.51%	18.68%	13.90%	13.50%
DIIs	1.26%	1.44%	3.08%	6.12%	6.11%	11.15%	15.11%	17.05%	16.49%	15.43%	21.09%	21.09%
Public	4.94%	5.04%	5.57%	5.23%	4.96%	4.36%	5.41%	7.61%	8.31%	8.21%	6.98%	7.38%
Total Shareholders	1,72,167	1,64,912	1,69,358	1,71,423	1,83,343	1,75,298	1,89,347	1,96,778	2,17,516	2,21,612	2,03,563	2,02,938

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Sep 16, 2025	Pi opportunities aif v llp	Bulk	Buy	441.00	200.00 Cr	45,35,147	0.77
Sep 16, 2025	Mio star	Bulk	Sell	441.01	298.67 Cr	67,72,461	1.15
Jun 25, 2025	Wf asian smaller companies fu...	Bulk	Sell	420.03	700.86 Cr	1,66,85,900	2.83
Jun 25, 2025	Sbi mutual fund	Bulk	Buy	420.00	689.76 Cr	1,64,22,758	2.79
Jun 04, 2025	Setu aif trust	Insider - Promoter Group	Acquisition	474.02	3.18 Cr	67,000	0.01
Jun 04, 2025	Setu aif trust	Insider - Promoter Group	Acquisition	473.89	8.39 Cr	1,76,997	0.03
Jun 04, 2025	Setu aif trust	Insider - Promoter Group	Acquisition	474.14	13.76 Cr	2,90,121	0.05
Jun 02, 2025	Setu aif trust	Insider - Promoter Group	Acquisition	463.53	10.73 Cr	2,31,539	—
Jun 02, 2025	Setu aif trust	Insider - Promoter Group	Acquisition	476.55	3.34 Cr	70,043	0.01
Jun 02, 2025	Setu aif trust	Insider - Promoter Group	Acquisition	474.44	4.89 Cr	1,03,000	0.01

Projection

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Actions

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Announcements

Last 7 days

Newest

Sentiment

Investor Meet

1 day ago

Analyst/Investor Meeting Scheduled for December 18, 2025

Star Health and Allied Insurance Company Limited has scheduled a meeting with Analysts/Institutional Investors on December 18, 2025, in Chennai.

Regulatory Filing

6 days ago

Disclosure of SEBI Regulation 30 Compliance

Star Health and Allied Insurance Company Limited discloses receipt of an order imposing a penalty under GST, with intentions to appeal the decision.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Showing 1 - 8 of 21

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Overview

Detailed Summary

The company showed a 12% YoY growth in gross written premium, reaching Rs. 8,809 crore for H1 FY2026, with a notable 24% increase in fresh retail premiums and a high renewal persistency of 98%.

Star Health's operating costs have improved significantly, reducing the expense ratio from 31.1% to 29.7%, attributing to various investments in technology and increased manpower productivity.

Star Health has effectively exited unprofitable segments and repriced large parts of its portfolio, leading to reduced loss ratios and enhanced profitability despite competitive market conditions.

Sector

Insurance

Industry

General Insurance

Market Cap

27,549 Cr

Volatility

Low Risk

P/E Ratio

51.7

Industry P/E

18.1

PEG Ratio

1.9

P/B Ratio

3.7

52W High

533.90

52W Low

330.05

Sales CAGR

14.83%

14.87%

26.13%

10Y

—

Profit CAGR

-23.57%

—

19.23%

10Y

—

ROE

TTM

7.16%

10.39%

-0.05%

10Y

—

ROCE

TTM

8.87%

14.93%

1.04%

10Y

—