STARHEALTH

Star Health and Allied Insurance Company Limited

Star Health and Allied Insurance Company Limited (STARHEALTH) financial statements and selected valuation metrics through 31 March 2026.

Financial Services›Financial Services›Insurance›General Insurance

starhealth.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹548.85
Market cap
32,295 Cr
Stock P/E
58.0
P/B
4.26
ROE (FY26)
7.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Star Health sells health insurance to individuals and families across India, mostly through its own distribution channels, and describes its aim as keeping leadership in retail health insurance (January 2026 press release).

Company snapshot

3rdBy market cap

Ranked among 6 companies in General Insurance.

What we see

Positives
  • ✓Cash flow from operations is higher than reported profit — earnings quality looks solid.
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Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Insurance layout · ₹ Cr · quarterly

MetricDec 2022Mar 2023Jun 2023Sept 2023Dec 2023Jun 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026
Premium2,943 Cr3,993 Cr2,801 Cr3,545 Cr3,152 Cr3,170 Cr3,560 Cr4,820 Cr3,457 Cr4,233 Cr4,361 Cr5,599 Cr
Expenses511 Cr611 Cr541 Cr596 Cr600 Cr572 Cr631 Cr684 Cr620 Cr676 Cr780 Cr884 Cr
Operating profit2,432 Cr3,382 Cr2,260 Cr2,948 Cr2,552 Cr2,598 Cr2,930 Cr4,136 Cr2,838 Cr3,557 Cr3,581 Cr4,715 Cr
Investment income————————————
Other income116 Cr141 Cr146 Cr151 Cr163 Cr0.42 Cr2 Cr2 Cr0.36 Cr3 Cr2 Cr2 Cr
Profit before tax282 Cr136 Cr384 Cr167 Cr388 Cr426 Cr287 Cr-0.87 Cr352 Cr78 Cr173 Cr151 Cr
Tax %25.3%25.2%25.1%25.0%25.3%25.2%25.0%158.6%25.4%29.3%26.1%26.4%
Net profit210 Cr102 Cr288 Cr125 Cr290 Cr319 Cr215 Cr0.51 Cr263 Cr55 Cr128 Cr111 Cr
EPS (₹)₹3.63₹1.75₹4.95₹2.15₹4.95₹5.45₹3.66₹0.01₹4.47₹0.93₹2.18₹1.89

Profit & loss (annual)

Annual insurance P&L · TTM where available · ₹ Cr

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Premium3,580 Cr4,693 Cr5,023 Cr10,809 Cr12,320 Cr12,938 Cr15,525 Cr17,650 CrSign in free for the trailing twelve months
Expenses———1,839 Cr2,054 Cr—2,541 Cr2,960 CrSign in free for the trailing twelve months
Operating profit———8,971 Cr10,266 Cr—12,985 Cr14,690 CrSign in free for the trailing twelve months
Investment income————————Sign in free for the trailing twelve months
Other income———480 Cr501 Cr—6 Cr7 CrSign in free for the trailing twelve months
Profit before tax182 Cr413 Cr-1,046 Cr-1,397 Cr826 Cr1,129 Cr861 Cr754 CrSign in free for the trailing twelve months
Tax %29.6%35.2%21.1%25.5%25.1%25.1%25.0%26.2%Sign in free for the trailing twelve months
Net profit128 Cr268 Cr-826 Cr-1,041 Cr619 Cr845 Cr646 Cr557 CrSign in free for the trailing twelve months
EPS (₹)₹2.81₹5.59₹-16.54₹-18.65₹10.70₹14.48₹11.01₹9.47Sign in free for the trailing twelve months
Dividend payout %————0.0%—0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital456 Cr491 Cr548 Cr576 Cr582 Cr585 Cr588 Cr588 Cr
Reserves937 Cr1,154 Cr3,673 Cr5,794 Cr5,984 Cr5,799 Cr6,436 Cr7,001 Cr
Borrowings250 Cr250 Cr250 Cr720 Cr470 Cr470 Cr470 Cr470 Cr
Other liabilities—2 Cr—8,190 Cr8,191 Cr348 Cr13,291 Cr16,005 Cr
Total liabilities1,643 Cr1,897 Cr4,467 Cr15,279 Cr15,226 Cr7,202 Cr20,785 Cr24,064 Cr
Fixed assets (net)———117 Cr111 Cr—185 Cr180 Cr
CWIP————————
Investments———11,373 Cr13,392 Cr—17,898 Cr20,012 Cr
Cash & bank893 Cr611 Cr1,879 Cr564 Cr309 Cr445 Cr668 Cr1,444 Cr
Other assets750 Cr1,285 Cr2,588 Cr3,225 Cr1,413 Cr6,757 Cr2,033 Cr2,428 Cr
Total assets1,643 Cr1,897 Cr4,467 Cr15,279 Cr15,226 Cr7,202 Cr20,785 Cr24,064 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity776 Cr647 Cr890 Cr56 Cr1,276 Cr1,310 Cr1,379 Cr1,873 Cr
Cash from investing-731 Cr-1,006 Cr-2,418 Cr-3,786 Cr-1,097 Cr-1,177 Cr-1,151 Cr-1,067 Cr
Cash from financing333 Cr122 Cr2,613 Cr2,509 Cr-268 Cr23 Cr-4 Cr-31 Cr
Net cash flow379 Cr-237 Cr1,086 Cr-1,221 Cr-89 Cr156 Cr224 Cr775 Cr
Free cash flow (OCF − Capex)738 Cr614 Cr844 Cr-8 Cr1,229 Cr1,186 Cr1,296 Cr1,795 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %————————
ROE %9.2%16.3%-19.6%-16.3%9.4%13.2%9.2%7.3%
Debtor days————————
Inventory days————————
Days payable————————
Cash conversion cycle————————
Debt / equity0.180.150.060.110.070.070.070.06
Current ratio———0.640.57—0.570.60
Net debt / EBITDA————————

Regulatory ratios (as filed, standalone basis)

IRDAI ratios as filed with results. Key metrics may show the investor-deck figure, which can differ.

MetricMar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Solvency ratio167.0%214.0%—221.0%205.0%
Claims ratio87.1%65.0%—70.3%68.5%
Combined ratio117.9%95.3%—101.1%100.4%
Expenses of management ratio30.1%30.0%—31.1%32.3%
Net retention ratio94.3%95.1%—92.5%94.9%