Star Health and Allied Insurance Company Ltd.
STARHEALTHFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220505 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220803 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221115 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230204 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230503 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230802 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231104 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240206 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240504 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240805 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241104 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250131 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250507 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250805 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251103 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260203 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260505 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260805 | 2026-06-30 | yes |
STARHEALTH
files the general-insurance revenue and shareholders’ accounts. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | insurance general |
| Scope served | standalone |
| Panels on this page | 5 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 550.40 |
| 52-week range | 425.15 – 610.4 |
| Return 1M | -5.57% |
| Return 3M | -4.63% |
| Return 1Y | 20.62% |
| Return 3Y | -5.31% |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-03-31
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Premium earned | 16,597.00 |
| Net premium written | 17,650.00 |
| Income from investments, net | 767.00 |
| Claims incurred | 11,375.00 |
| Claims paid | 11,287.00 |
| Commission, net | 2,673.00 |
| Operating expenses related to insurance business | 2,960.00 |
| Premium deficiency | 0.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.58 | 0.00 |
| institutions foreign | 0.16 | 0.01 |
| institutions domestic | 0.19 | -0.01 |
| mutual funds | 0.10 | -0.02 |
| public | 0.42 | -0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 18 |
Financial statements
Filed results, standalone, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Cash flow, as filed
| Line | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|
| Net cash from operating activities | 1,379.00 | -368.00 | 1,873.00 |
| Net cash from investing activities | -1,151.00 | -23.00 | -1,067.00 |
| Net cash from financing activities | -4.00 | -29.00 | -31.00 |
| Purchase of property, plant and equipment | 46.00 | 10.00 | 1.00 |
| Net increase in cash | 224.00 | -419.00 | 775.00 |
| con:CFO.BEFORE_TAX | 1,567.00 | -185.00 | 2,058.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 189.00 | 183.00 | 185.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 81,839.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 81,298.00 | 0.00 |
| con:PPE_DISPOSALS | 1.00 | 0.00 | 1.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 |
Revenue account (policyholders), as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Premium earned | 14,822.00 | 3,938.00 | 4,081.00 | 4,250.00 | 16,597.00 |
| Net premium written | 15,525.00 | 3,457.00 | 4,233.00 | 4,361.00 | 17,650.00 |
| Income from investments, net | 766.00 | 177.00 | 182.00 | 192.00 | 767.00 |
| Claims incurred | 10,419.00 | 2,739.00 | 2,918.00 | 2,913.00 | 11,375.00 |
| Claims paid | 9,854.00 | 2,763.00 | 2,828.00 | 3,055.00 | 11,287.00 |
| Commission, net | 2,241.00 | 508.00 | 691.00 | 682.00 | 2,673.00 |
| Operating expenses related to insurance business | 2,541.00 | 620.00 | 676.00 | 780.00 | 2,960.00 |
| Premium deficiency | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Underwriting profit or loss | -378.00 | 72.00 | -204.00 | -125.00 | -412.00 |
| Transfer to the profit and loss account | 393.00 | 249.00 | -19.00 | 69.00 | 363.00 |
Profit and loss account (shareholders), as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Income in the shareholders' account | 912.00 | 367.00 | 96.00 | 193.00 | 826.00 |
| Shareholders' income from investments | 514.00 | 118.00 | 115.00 | 123.00 | 461.00 |
| Shareholders' other income | 5.00 | 0.00 | 0.00 | 0.00 | 2.00 |
| Transfer from the policyholders' account | 393.00 | 249.00 | -19.00 | 69.00 | 363.00 |
| Non-operating expense | 51.00 | 15.00 | 18.00 | 19.00 | 72.00 |
| Profit before exceptional items and tax | 861.00 | 352.00 | 78.00 | 173.00 | 754.00 |
| con:EXTRAORDINARY_ITEMS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit for the period | 646.00 | 263.00 | 55.00 | 128.00 | 557.00 |
| Profit carried to the balance sheet | 646.00 | 263.00 | 55.00 | 128.00 | 557.00 |
| Transfer to reserves | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Final dividend | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Earnings per share, basic | 11.01 | 4.47 | 0.92 | 2.18 | 9.47 |
| Other income | 6.00 | 0.00 | 3.00 | 2.00 | 7.00 |
| con:OTHER_OPERATING_EXPENSES | 848.00 | 225.00 | 235.00 | 261.00 | 977.00 |
| con:INS.PROVISIONS_DOUBTFUL | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.PROVISIONS_DOUBTFUL_NON_OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.NON_OPERATING_EXPENSE_OTHER | 51.00 | 15.00 | 18.00 | 19.00 | 71.00 |
Funds and assets, as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Paid-up equity share capital | 588.00 | 588.00 | 588.00 | 588.00 | 588.00 |
| Investments — policyholders' fund | 10,713.00 | 10,934.00 | 11,316.00 | 11,658.00 | 12,502.00 |
| Investments — shareholders' fund | 7,186.00 | 7,311.00 | 7,356.00 | 7,542.00 | 7,511.00 |
| Other assets net of current liabilities | -10,316.00 | -10,108.00 | -10,600.00 | -10,732.00 | -11,991.00 |
| Total assets | 7,582.00 | 8,137.00 | 8,072.00 | 8,468.00 | 8,021.00 |
| Investments | 17,898.00 | 18,245.00 | 18,672.00 | 19,200.00 | 20,012.00 |
| Reserves and surplus | 6,436.00 | — | 6,755.00 | — | 7,001.00 |
| Borrowings | 470.00 | — | 470.00 | — | 470.00 |
| con:LOANS | 0.00 | — | 0.00 | — | 0.00 |
| Property, plant and equipment | 185.00 | — | 190.00 | — | 180.00 |
| Current assets | 2,350.00 | — | 2,033.00 | — | 3,515.00 |
| Current liabilities | 4,121.00 | — | 4,437.00 | — | 5,889.00 |
| con:PROVISIONS | 9,081.00 | — | 8,761.00 | — | 10,153.00 |
Solvency and underwriting ratios, as filed
| Line | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Solvency ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Combined ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Incurred claim ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Expenses of management ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross NPAs — policyholders' fund | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross NPAs, per cent — policyholders' fund | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.NPA_NET_PCT_POLICYHOLDERS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INS.SHAREHOLDING_PCT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 58.28 | 58.25 | 58.02 | 57.94 | 57.92 | 57.90 | 57.69 | 57.68 | 57.67 | 58.04 | 0.58 | 0.58 | 0.58 | 0.58 |
| Domestic institutions | 1.44 | 3.08 | 6.12 | 6.11 | 11.15 | 15.11 | 17.05 | 16.49 | 15.43 | 21.09 | 0.21 | 0.21 | 0.20 | 0.19 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 14.36 | 0.14 | 0.13 | 0.12 | 0.10 |
| Insurance companies | 0.11 | 0.23 | 1.52 | 2.00 | 2.68 | 4.76 | 4.59 | 4.71 | 4.83 | 5.29 | 0.05 | 0.05 | 0.05 | 0.06 |
| Foreign institutions | 35.24 | 33.10 | 30.63 | 31.00 | 26.57 | 21.58 | 17.65 | 17.51 | 18.68 | 13.90 | 0.14 | 0.14 | 0.15 | 0.16 |
| Government | — | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 |
| Public | 41.72 | 41.75 | 41.98 | 42.06 | 42.08 | 42.10 | 42.31 | 42.32 | 42.33 | 41.96 | 0.42 | 0.42 | 0.42 | 0.42 |
| Non-institutional | 5.04 | 5.57 | 5.23 | 4.96 | 4.36 | 5.41 | 7.61 | 8.32 | 8.21 | 6.98 | 0.07 | 0.07 | 0.07 | 0.07 |
| Shares outstanding | 581677348 | 581983308 | 584272923 | 585107072 | 585283381 | 585474734 | 587567681 | 587679337 | 587786459 | 587806459 | 587949881 | 588398801 | 588403502 | 588576909 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| M/s. One 97 Communications Limited | Director interested entity | Any other transaction, Purchase of goods or services | 51,301,000.00 | 3 |
| Mr.Shankar Roy Anand | Managing Director and Chief Execut | Remuneration, Sale of goods or services | 27,951,000.00 | 2 |
| M/s. Godrej Finance Limited | Director interested entity | Any other transaction, Sale of goods or services | 27,622,000.00 | 2 |
| M/s. India Shelter Finance Corporation Limited | Director interested entity | Any other transaction, Sale of goods or services | 16,688,000.00 | 2 |
| M/s. Paytm Payments Bank Limited | Director interested entity | Any other transaction, Sale of goods or services | 7,988,000.00 | 2 |
| M/sHindware Home Innovation Limited | Director interested entity | Any other transaction, Sale of goods or services | 4,265,000.00 | 3 |
| M/s. Roppen Transportation Services Private Limited | Promoter Group | Any other transaction, Sale of goods or services | 3,523,000.00 | 3 |
| Ms.Anisha Motwani | Independent Director | Any other transaction | 1,500,000.00 | 1 |
| Mr. Berjis Desai | Independent Director | Any other transaction | 1,500,000.00 | 1 |
| Mr.Rajeev Krishnamuralilal Agarwal | Independent Director | Any other transaction | 1,500,000.00 | 1 |
| Mr.Rohit Bhasin | Independent Director | Any other transaction | 1,500,000.00 | 1 |
| Ms.Rajni Sekhri Sibal | Independent Director | Any other transaction | 1,500,000.00 | 1 |
| Pegasus Assets Reconstruction Private Limited | Promoter Group | Any other transaction, Sale of goods or services | 784,000.00 | 3 |
| M/s. Rare Enterprises | Promoter Group | Any other transaction, Sale of goods or services | 579,000.00 | 2 |
| M/s. Airpay Payment Services Private Limited | Promoter Group | Purchase of goods or services | 101,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-05 | Q1FY27 | Read the call | |
| 2026-05-05 | Q4FY26 | Read the call | |
| 2026-02-03 | Q3FY26 | Read the call | |
| 2025-11-03 | Q2FY26 | Read the call | |
| 2025-08-05 | Q1FY26 | Read the call | |
| 2025-05-07 | Q4FY25 | Read the call | |
| 2025-01-31 | Q3FY25 | Read the call | |
| 2024-11-04 | Q2FY25 | Read the call | |
| 2024-08-05 | Q1FY25 | Read the call | |
| 2024-05-04 | FYFY24 | Read the call | |
| 2024-02-06 | FYFY24 | Read the call | |
| 2023-11-04 | H1FY24 | Read the call | |
| 2023-08-02 | Q1FY24 | Read the call | |
| 2023-05-03 | Q4FY23 | Read the call | |
| 2023-02-04 | Q3FY23 | Read the call | |
| 2022-11-15 | H1FY23 | Read the call | |
| 2022-08-03 | Q1FY23 | Manage | Read the call |
| 2022-05-05 | Q4FY22 | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY26 | Q3FY23 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capital allocation | I wanted to understand the cyclicality of the deferred acquisition cost because you start with a negative in 1Q, then eventually in 1H it becomes a po… | — | Do we conclude out of this that the incremental acquisition is coming at a higher expense cost versus the, you know, what was the trend previously? | So, as you have rightly mentioned, despite significant growth in business, our net commissions have remained stable and under the IFRS accounting, the… | So for Q4 with the highest business, the cost is upfront because though the combined ratio is in that range, there won’t be much profit because the co… | But once the solvency come in, and we are profitable, we will be in a position to pay dividend as well. | Third, if you can help me understand the IFRS ROE is lesser than the IGAP ROE, and I am guessing it's because the deferred acquisition cost got impact… | — |
| Costs | Having said that, the benefit that we are expected to accrue from reduction in GST cost on life-saving drugs and other drugs, has to be passed on by t… | — | — | — | — | — | — | — |
| Debt and cash | — | — | — | — | — | — | — | — |
| Demand | What we will tell you is that the GST waiver is a welcome move done by the government, and definitely it will lead to an increased demand. | — | — | — | There’s 2 products that we have recently launched and one is in the pipeline. | — | — | I just want to understand how much incremental demand we have received from the returning customers. |
| Guidance | So, Sanketh, you know, we do not want to give any guidance. | We have given guidance that whenever a loss ratio reaches a certain threshold, we go in for a price increase, it’s 65% to 70% that we have maintained … | In fact, we are very confident of doing much better as we go forward because this new product of Superstar has really taken off very well for us on al… | I think there is, we expect that the regulator may be reviewing this. | So, I think we will be able to maintain the guidance which we are giving you. | And as I have already disclosed our April performance, seems to be very promising and we expect to maintain the momentum though we are not giving any … | Just a follow up on the first question on the loss ratio, on building reserves and I understand that you might have built reserves basis the trend we … | Given that the momentum that is there in fresh business, etc., when do we expect the NEP growth to pick up and come to the 15% kind of range? |
| Margin | — | So, my first question was on just wanted to understand how the structure of the combined ratio works if we are at say 63% to 65% target ratio and our … | — | — | So, that is why the required solvency margin to go down. | — | — | — |
| People | — | — | — | — | — | — | — | — |
| Pricing | We understand that price hikes incurred take time to flow through. | Sir, firstly on the loss ratios, right so if you can just give out some numbers around what are our loss ratios in the FHO book, Star comprehensive bo… | Secondly, and this is more from a very fundamental and directional perspective, you have been taking actions in terms of pricing or whatever you can d… | So, I just wanted to understand when do we see that last year's price hike in the earned premium growth. | I think we took a 15% hike in our flagship where as in the previous year, what are your thoughts on price hikes in both retail health as well as group… | So I mean, what sort of a growth outlook you have considering that OK from May onwards you have apply price hike on renewals. | We have done pricing corrections on the retail side and it’s more than 60% of our portfolio. | First, wanted to understand what is the status in terms of price hikes, if you could give some color in terms of what products you are doing, so how m… |
| Revenue growth | Of course, the full benefits of GST are being passed on to the consumer which is good for the growth of the business, and in the effort to reduce dist… | — | As I am not booking the top line, hence there is no seeding and no RI commission. | There is a stark improvement on the commission ratios given that fresh growth was so strong. | It does definitely, sir another thing was the URR question, on a full-year basis would you be prepared to presume a URR, if your industry with a growt… | I mean, if we see the growth for March is still despite the fact that you took price hike on new products yet the growth was sort of a softer. | We have also guided for an FY’ 2028 medium term kind of vision where we would be doubling our top line and tripling our profit on the IFRS basis. | — |