| Revenue growth | 13% YoY in Insurance Revenue for FY26. |
|---|---|
| Margins | Combined ratio improved to 98.4% from 100.7% YoY. |
| Demand visibility | Strong, driven by 37% retail fresh GWP growth. |
| Management confidence | High, citing retail leadership and proprietary network expansion. |
Growth
Insurance Revenue grew 13% YoY to ₹17,999cr; PAT increased 16% to ₹911cr. Retail fresh GWP grew 37%.
Outlook
Guidance focuses on maintaining retail leadership, digital onboarding (96% current), and normalizing ROE toward 13.1% levels.
Risks
Rising expense ratios in Q4 (30.5%) and volatility in investment income due to marked-to-market losses.
Last quarter's promises, checked
Delivered
- Guided 1 lakh annual agent addition → delivered 1 lakh+ (= BEAT)
- Guided fresh retail growth on N basis → delivered 38% YoY (= BEAT)
- Guided improvement in combined ratio → delivered 98.8% from 101.1% (= BEAT)
Partly delivered
- Guided retail loss ratio improvement → delivered 64.8% (still above historical 65-66% range) (= PARTIAL)
Missed
- Guided positive PAT in Q4 → delivered ₹55cr loss due to MTM (= 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
- ₹550.55
- Market cap
- ₹32,355 Cr
- Revenue (annual)
- ₹17,825 Cr
- Net profit (annual)
- ₹557.0 Cr
- P/E (TTM)
- 38.3×Sector 21.9×
- 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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