Star Health & Allied Insurance Company Ltd
Star Health & Allied Insurance Ltd (Star) is India’s first Standalone Health Insurance provider and is the largest private health insurer in India with a market share of 15.8% in the Indian health insurance market in FY21 with leadership in the attractive retail health segment.[1]
- Market Cap ₹ 32,776 Cr.
- Current Price ₹ 560
- High / Low ₹ 675 / 455
- Stock P/E 40.7
- Book Value ₹ 115
- Dividend Yield 0.00 %
- ROCE 14.7 %
- ROE 12.3 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 29.5% CAGR over last 5 years
Cons
- Stock is trading at 4.88 times its book value
- Company has a low return on equity of -12.9% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Insurance Industry: Finance & Investments
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|
1,069 | 1,595 | 2,012 | 2,888 | 3,775 | 4,987 | 5,050 | 10,602 | 12,096 | 13,465 | |
1,189 | 1,439 | 1,871 | 2,673 | 3,565 | 4,544 | 6,447 | 11,962 | 11,223 | 12,392 | |
Operating Profit | -120 | 156 | 141 | 215 | 210 | 443 | -1,397 | -1,360 | 873 | 1,072 |
OPM % | -11% | 10% | 7% | 7% | 6% | 9% | -28% | -13% | 7% | 8% |
0 | 0 | 0 | 0 | 0 | 0 | -3 | 7 | 5 | 3 | |
Interest | 1 | 2 | 3 | 20 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation | 19 | 18 | 20 | 23 | 28 | 29 | 46 | 43 | 52 | 0 |
Profit before tax | -140 | 137 | 118 | 171 | 182 | 413 | -1,446 | -1,397 | 826 | 1,075 |
Tax % | 0% | 0% | 0% | 1% | 30% | 35% | 25% | 25% | 25% | |
-140 | 137 | 118 | 170 | 128 | 268 | -1,086 | -1,041 | 619 | 804 | |
EPS in Rs | -3.87 | 3.53 | 2.59 | 3.73 | 2.81 | 5.46 | -19.81 | -18.08 | 10.63 | 13.80 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 33% |
3 Years: | 34% |
TTM: | 14% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 29% |
3 Years: | 32% |
TTM: | 85% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | -5% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | -8% |
3 Years: | -13% |
Last Year: | 12% |
Balance Sheet
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 362 | 387 | 456 | 456 | 456 | 491 | 548 | 576 | 582 | 584 |
Reserves | -220 | -27 | 334 | 504 | 773 | 1,153 | 2,947 | 4,045 | 4,866 | 6,127 |
0 | 0 | 0 | 250 | 250 | 250 | 250 | 720 | 470 | 470 | |
954 | 1,012 | 1,423 | 2,138 | 3,394 | 4,233 | 6,756 | 8,174 | 9,308 | 9,415 | |
Total Liabilities | 1,096 | 1,372 | 2,213 | 3,347 | 4,872 | 6,127 | 10,501 | 13,514 | 15,226 | 16,596 |
46 | 62 | 77 | 92 | 85 | 90 | 183 | 113 | 101 | 124 | |
CWIP | 12 | 3 | 7 | 5 | 13 | 12 | 19 | 4 | 10 | 0 |
Investments | 502 | 807 | 1,428 | 2,165 | 3,030 | 4,290 | 6,733 | 11,373 | 13,392 | 14,020 |
535 | 500 | 700 | 1,085 | 1,744 | 1,735 | 3,565 | 2,024 | 1,723 | 2,451 | |
Total Assets | 1,096 | 1,372 | 2,213 | 3,347 | 4,872 | 6,127 | 10,501 | 13,514 | 15,226 | 16,596 |
Cash Flows
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|
321 | 557 | 776 | 647 | 890 | 56 | 1,276 | |||
-497 | -663 | -731 | -1,006 | -2,418 | -3,786 | -1,097 | |||
310 | 249 | 333 | 122 | 2,613 | 2,509 | -268 | |||
Net Cash Flow | 134 | 143 | 379 | -237 | 1,086 | -1,221 | -89 |
Ratios
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|
Debtor Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Inventory Days | |||||||||
Days Payable | |||||||||
Cash Conversion Cycle | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Working Capital Days | -255 | -179 | -191 | -196 | -260 | -238 | -397 | -258 | -255 |
ROCE % | 55% | 21% | 19% | 14% | 25% | -51% | -31% | 15% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Resignation of Director
2d - Star Health And Allied Insurance Company Limited has informed the Exchange regarding Resignation of Mr. Berjis Minoo Desai as Non- Executive Independent Director of the …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
18 Apr - Star Health And Allied Insurance Company Limited has informed the Exchange about Q4 & FY 2024 Earnings Call meeting dated 30th April, 2024.
- Board Meeting Intimation for Board Meeting Intimation For Consider And Approve The Standalone Audited Financial Results Of The Company For The Quarter And Year Ended March 31, 2024. 6 Apr
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Announcement under Regulation 30 (LODR)-Credit Rating
5 Apr - Star Health And Allied Insurance Company Limited has informed the Exchange about Revision of Credit Rating.
- Compliance Certificate As Per Regulation 40(9) And 40(10) Of SEBI (LODR) Regulations 2015. 4 Apr
Concalls
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT REC
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Jul 2023TranscriptNotesPPT
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May 2023Transcript PPT
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Mar 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022Transcript PPT
Leading Health Insurance company[1] Incorporated in 2006, Star Health is the largest private health insurer in India with a market share of 15.8% and gross written premium (GWP) of Rs 93.5 billion in FY21 and has a market share of 31% in the retail health segment. In FY21, the retail health GWP for Star Health was over three times the retail health GWP of the next highest retail health insurer.