Star Health and Allied Insurance Company Ltd
Star Health and Allied Insurance Company Limited has informed the Exchange about the declaration of standalone financial results for the quarter and financial year ended March 31, 2026
RESULTS
● No Immediate Change
MEDIUM RISK
📅 Filed on BSE: 28 Apr 2026, 06:26 PM IST · BSE ID: b34c1b98-3a44-4c37-a42c-c4f37aa7f544
View Original BSE Filing (PDF)
💡
In Simple Terms
Star Health reported full-year profits of INR 55,698 Million with per-share earnings of INR 9.47, both down 14% from last year despite selling 14% more insurance premiums.
🤖 AI Summary
- FY26 net profit INR 55,698 Million; EPS INR 9.47 down 13.9% despite 13.7% premium growth
- Net written premium FY26 INR 17,65,025 Million versus INR 15,52,522 Million FY25 — growth 13.7%
- Net worth FY26 INR 7,58,866 Million; current liability ratio improved to 0.80 from 0.88
- Operating margin turned positive to 2.65% in FY26 from negative 2.48% in FY25
- Board approved audited results April 28, 2026; joint auditors M/s. T R Chadha and M/s. MSKA
🔢 Key Numbers — exact figures from BSE filing, not rounded
Net Profit FY26
INR 55,698 Million
-13.9%
Earnings Per Share (EPS) FY26
INR 9.47
-13.9%
Net Written Premium FY26
INR 17,65,025 Million
+13.7%
Net Worth FY26
INR 7,58,866 Million
Operating Margin FY26
2.65%
Underwriting Balance Ratio FY26
-2.48%
Expense Ratio FY26
17.10%
Current Liability Ratio FY26
0.80
🏢 How This Affects the Company
Net written premium grew 13.7% to INR 17,65,025 Million in FY26 from INR 15,52,522 Million in FY25, confirming sustained market demand in health insurance segment.
Net profit declined 13.9% to INR 55,698 Million despite premium growth, signaling margin compression. Net worth expanded to INR 7,58,866 Million. Operating margin recovered to positive 2.65% from negative 2.48% in FY25, indicating improved underwriting efficiency.
Claims paid in FY26 reached INR 11,28,686 Million versus INR 9,85,372 Million in FY25. Expense ratio improved to 17.10% from 18.32%, reflecting operational efficiency gains despite higher claims volume.
Underwriting margin remained negative at negative 2.48% in FY26, indicating claims and expenses still exceed premiums earned before investment income. Premium deficiency reserve disclosed, confirming actuarial pressure on loss-making segments.
👥 What This Means For Shareholders
✅
Action Required
No immediate action required. Review Q1 FY27 results when disclosed to assess if margin pressure stabilizes or continues.
👤
Who Is Affected
All equity shareholders. EPS declined from INR 10.99 in FY25 to INR 9.47 in FY26. Dividend decisions will be disclosed separately by the Board.
🔍
Management Signal
Management prioritizing premium volume growth while accepting margin compression, betting on operational leverage and investment returns to offset underwriting losses.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q1 FY27 results — track if premium growth sustains and margin compression arrests
Claims ratio and expense ratio trends in Q1 — confirm if operational efficiency improvements persist
Board dividend declaration — check interim and final dividend announcement for FY26
MEDIUM RISK
Negative underwriting margin of negative 2.48% indicates core insurance operations loss. Continued claims inflation and competitive pricing pressure pose medium-term profitability risk.
💡 Investor Takeaway
Star Health delivered INR 55,698 Million net profit in FY26, down 13.9% despite 13.7% premium growth to INR 17,65,025 Million. Margin compression reflects elevated claims and expenses. Operating margin improved to 2.65%, but underwriting loss persists at negative 2.48%.
⚖️ Strengths & Concerns
✅ Positives
- Premium growth 13.7% year-over-year to INR 17,65,025 Million demonstrates market share expansion in competitive health insurance sector.
- Operating margin recovered to positive 2.65% in FY26 from negative 2.48% in FY25, showing improved profitability trajectory.
⚠️ Concerns
- Net profit declined 13.9% to INR 55,698 Million despite premium growth, indicating margin compression from claims and cost inflation.
- Underwriting balance remains negative at negative 2.48%, meaning core insurance operations loss before investment income.