Star Health & Allied Insurance Company Ltd

Star Health & Allied Insurance Company Ltd

₹ 583 0.72%
12 Jul - close price
About

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]

Key Points

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.

  • Market Cap 34,145 Cr.
  • Current Price 583
  • High / Low 675 / 455
  • Stock P/E 40.4
  • Book Value 115
  • Dividend Yield 0.00 %
  • ROCE 17.2 %
  • ROE 13.9 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 45.8% CAGR over last 5 years

Cons

  • Stock is trading at 5.07 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 2.80% 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

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
787 2,388 2,702 2,711 2,801 2,891 3,002 3,073 3,131 3,294 3,462 3,578 3,689
2,065 2,668 2,942 3,479 2,918 2,605 2,882 2,793 2,996 2,909 3,296 3,191 3,501
Operating Profit -1,278 -280 -239 -768 -117 286 120 280 135 384 166 387 187
OPM % -163% -12% -9% -28% -4% 10% 4% 9% 4% 12% 5% 11% 5%
0 0 7 0 1 2 1 2 1 0 1 0 2
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax -1,278 -280 -232 -768 -116 288 121 282 136 384 167 388 190
Tax % 25% 25% 27% 25% 29% 26% 23% 25% 25% 25% 25% 25% 25%
-957 -210 -170 -578 -82 213 93 210 102 288 125 290 142
EPS in Rs -17.46 -3.82 -3.08 -10.05 -1.43 3.70 1.61 3.62 1.75 4.95 2.15 4.95 2.43
Raw PDF
Upcoming result date: 30 July 2024

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,069 1,595 2,012 2,888 3,775 4,987 5,050 10,602 12,096 14,022
1,189 1,439 1,871 2,673 3,565 4,544 6,447 11,962 11,223 12,898
Operating Profit -120 156 141 215 210 443 -1,397 -1,360 873 1,125
OPM % -11% 10% 7% 7% 6% 9% -28% -13% 7% 8%
0 0 0 0 0 0 -3 7 5 4
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 1,129
Tax % 0% 0% 0% 1% 30% 35% 25% 25% 25% 25%
-140 137 118 170 128 268 -1,086 -1,041 619 845
EPS in Rs -3.87 3.53 2.59 3.73 2.81 5.46 -19.81 -18.08 10.63 14.44
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 30%
3 Years: 41%
TTM: 16%
Compounded Profit Growth
10 Years: %
5 Years: 46%
3 Years: 41%
TTM: 37%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -8%
Return on Equity
10 Years: %
5 Years: -2%
3 Years: 3%
Last Year: 14%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 362 387 456 456 456 491 548 576 582 585
Reserves -220 -27 334 504 773 1,153 2,947 4,045 4,866 6,147
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 10,853
Total Liabilities 1,096 1,372 2,213 3,347 4,872 6,127 10,501 13,514 15,226 18,054
46 62 77 92 85 90 183 113 101 175
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 15,491
535 500 700 1,085 1,744 1,735 3,565 2,024 1,723 2,388
Total Assets 1,096 1,372 2,213 3,347 4,872 6,127 10,501 13,514 15,226 18,054

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
321 557 776 647 890 56 1,276 1,310
-497 -663 -731 -1,006 -2,418 -3,786 -1,097 -1,177
310 249 333 122 2,613 2,509 -268 23
Net Cash Flow 134 143 379 -237 1,086 -1,221 -89 156

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 0 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 0
Working Capital Days -255 -179 -191 -196 -260 -238 -397 -258 -255 -249
ROCE % 55% 21% 19% 14% 25% -51% -31% 15% 17%

Shareholding Pattern

Numbers in percentages

21 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
58.90% 58.90% 58.84% 58.63% 58.28% 58.29% 58.26% 58.01% 57.94% 57.92%
9.91% 9.78% 9.61% 10.31% 35.52% 35.24% 33.09% 30.63% 31.01% 26.57%
27.44% 27.30% 27.21% 1.46% 1.26% 1.44% 3.08% 6.11% 6.11% 11.14%
3.75% 4.02% 4.34% 29.58% 4.95% 5.02% 5.56% 5.23% 4.96% 4.38%
No. of Shareholders 1,91,5081,79,0691,73,8411,74,8171,72,1671,64,9121,69,3581,71,4231,83,3431,75,298

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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