| Revenue growth | 16% YoY GWP growth in FY26. |
|---|---|
| Margins | Combined Ratio improved to 98.8% from 101.1% YoY. |
| Demand visibility | Strong, 93% of fresh NOPs are new to insurance. |
| Management confidence | High, emphasizing digital adoption and retail dominance. |
Growth
FY26 PAT rose 16% YoY to ₹911 Cr. Normalised PAT grew 45% YoY to ₹1,222 Cr. Retail fresh GWP surged 37%.
Outlook
Focus on 15%+ GWP growth, improving ROE (10.0% FY26), and leveraging 8.3 lakh agents and 924 branches.
Risks
Investment yield dropped to 5.8% (vs 7.6% FY25). Q4FY26 saw a net loss of ₹55 Cr due to MTM investment losses.
Last quarter's promises, checked
Delivered
- Guided for strategic recalibration → Underwriting profit turned positive at ₹206 Cr (= BEAT)
- Targeted ₹20,000 Cr GWP milestone → Delivered ₹20,369 Cr (= BEAT)
- Guided for loss ratio improvement → Retail loss ratio improved from 69.2% to 65.2% in Q4 (= BEAT)
Partly delivered
- Guided for 15% NEP growth → Management admits NEP growth currently lags GWP due to long-term policy accounting (= PARTIAL)
Missed
- Guided for sustained profitability → Reported Q4 net loss of ₹55 Cr due to MTM losses (= MISS)
Earnings Call filed with NSE, NSE: STARHEALTH. Summary written with AI assistance from the document.
Star Health and Allied Insurance Company Ltd: key numbers
- Share price
- ₹558.15
- Market cap
- ₹32,801 Cr
- Revenue (annual)
- ₹17,825 Cr
- Net profit (annual)
- ₹557.0 Cr
- P/E (TTM)
- 38.9×Sector 22.0×
- Promoter holding
- 58.01%+0.03% QoQ
- FII holding
- 16.04%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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