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Star Health & Allied Insurance Company Ltd share Price

Company details

540.65
546.70
469.05
780.00
6M Return -15.26%
1Y Return -18.96%
Mkt Cap.(Cr) 31,669.40
Volume 647,620
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 647,620

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Steady Q4; strong guidance remains encouraging...

About The Stock

    Star Health is the largest standalone insurer engaged in health insurance segment with relatively superior market share, operating performance.

    • Star Health is a market leader in the retail health insurance segment with 32%+ market share, as of December 2021 and 29.8% market share in the number of persons covered (as of FY21).
    • Star Health has 768 branches and 12000+ network hospitals, with a presence in 25 states and five union territories.

Key triggers for future price performance

    • Large population base along with massive under penetration provides a long term sustainable growth opportunity. Increased awareness, led by Covid, is likely to act as inflection point. Rising income, product development, medical inflation is expected to pave the way for next leg of growth. We expect insurance penetration to double (from 3.8% in FY21) to 17%, 18% CAGR in total health, retail health premium, respectively, in FY21-31E
    • Star Health is a market leader in retail health insurance, with market share in retail GDPI at 31.3%. Going ahead, market share dominance is expected to continue led by focus on products innovation, competitive pricing and strong distribution push. Further, higher proportion of retail business (~88-89%), competitive pricing and strong distribution push to drive growth
    • Largest agency channel with ~5.3 lakh agents form a pillar to drive ~77% of business. Focus on agency channel coupled with strategic tie-ups with digital ecosystem partners to enable pedalling healthy growth in premium
    • Star Health has consistently delivered combined ratio at 93-95% in FY16-20. Covid led to higher claims resulting in under writing loss, which, we believe, will normalise from FY23E onwards. Strong underwriting, tie-up with hospital will restrict claims while focus on opex (through in-house claim settlement and gradual improvement in efficiency) is seen boosting profitability and return ratios ahead

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Star Health and Allied Insurance Company Ltd.

FY23 Annual Result Announced for Star Health and Allied Insurance Company Ltd.

Star Health and Allied Insurance Company announced FY23 results:

  • Registers a net profit of Rs 619 crore for FY23
  • Company delivers combined ratio of 95.3% for FY23
  • Gross Written Premium of Rs 12,952 crore in FY23
  • Appoints Anand Roy as the Chief Executive Officer and Managing Director

Anand Roy, newly appointed Chief Executive Officer and Managing Director of Star Health and Allied Insurance Company said, “I am extremely humbled and also excited about my new role at Star Health. It is indeed a privilege and honour to lead this great organisation into its next phase of success. FY 22-23 has been a good year for us where we saw steady growth q-o-q. We focused on improving our retail market share, lowering our combined operating ratio, growing our channel partners and agent network. The year saw us launch a couple of innovative products which were well received by customers across the country. Our growth strategy also focused on strengthening our presence through branches and increasing our network hospital presence for better customer service. Our combined ratio for FY23 improved to 95.3% versus 117.9% for FY22.”

“Retail health insurance will remain our primary focus for the years ahead. We continue to invest heavily in enhancing our customer experience through product innovation and digitalization. The brand of Star Health is well entrenched in all parts of our country. We will keep identifying new opportunities for growth and expansion and contribute to increasing the penetration of health insurance in India”, added Mr. Roy.

 

 

Result PDF

View Other Company Results

OUR RESEARCH VIEW

Investment recommendation

Steady Q4; strong guidance remains encouraging...
Call Date
08 May 2023
Entry Price 600.00
Target Price 700.00
Duration
12-18 Month

FINANCIALS

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Operating Profit
Profit after Tax
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Star Health & Allied Insurance Company Ltd Stocks COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 4,544.52 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 943.10 32,637.51
LAST 3M 17,174.81 50,737.17
LAST 6M 66,045.02 26,732.81
LAST 12M 121,409.17 72,523.78

Star Health & Allied Insurance Company Ltd Information

Stock PE (TTM)
50.71
Promoter Holding
58.28%
Book Value
113.2691
ROCE
0%
ROE
0%
Description
  • Star Health and Allied Insurance Company Limited was incorporated on 17 June, 2005 at Chennai. The Company was granted its Certificate for Commencement of Business on 09 December, 2005 by the RoC. Star Health is India`s first Standalone Health Insurance provider, which has widened its coverage to Health, Personal Accident and Overseas Travel Insurance. It provides policies customised around the needs of individuals, families and companies. These services are provided through a distribution network comprising agents, brokers and the online format. The Company is also prominently engaged in bancassurance on basis of long-standing relationships with banks. Star Health is one of India`s biggest private health insurers with a market share of 15.35% in FY2021-22. The Company has one of the largest health insurance hospital networks in India comprising more than 12,820 hospitals as of 31 March, 2022. The Company offers a range of flexible and comprehensive coverage options for the following insurance types:i. Retail health insurance, which is paid for by private individuals or families, generally through out-ofpocket expenses or private insurance,ii. Group health insurance, which is paid for by employers typically in the form of company health insurance plans that could involve co-payments by the employee,iii. Government health insurance, which is paid for by the government, typically in the form of central or state government health insurance programmes,iv. The Company also offers personal accident and travel insurance, paid for by individuals or families or employers. During the month of December 2021,the company came out with an Rs 6400-crore public issue which comprised of Rs 2000 crore of fresh issue and Rs 4400 crore of offer for sale.The IPO shares were allotted at the price of Rs 900 per share including a premium of Rs 890 per share.The allotted shares were listed on the BSE Ltd and National Stock Exchange of India Ltd(NSE) on 10 December 2021. In FY 2021-22, the Company increased branch offices and rural branch offices by 20 and 50 respectively, enhancing customer proximity. As of 31st March, 2022, there was a growth in distribution network to 807 health insurance branches across 26 states and 4 Union Territories in India.

Registered Address

1 New Tank St. Valluvarkottam, High Road Nungambakkam, Chennai, Tamil Nadu, 600034

Tel : 91-44-2828 8800 / 4366 4666
Email : investors:starhealth.in
Website : http://www.starhealth.in
Registrar

KFin Techologies Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 543412
NSE Code : STARHEALTH
Book Closure Date (Month) :
BSE Group : A
ISIN : INE575P01011

FAQ’s on Star Health & Allied Insurance Company Ltd Shares

You can buy Star Health & Allied Insurance Company Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Star Health & Allied Insurance Company Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 30, 2023 04:01 PM the closing price of Star Health & Allied Insurance Company Ltd was ₹ 544.45.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of May 30, 2023 04:01 PM, the market cap of Star Health & Allied Insurance Company Ltd stood at ₹ 31,669.40.

The latest PE ratio of Star Health & Allied Insurance Company Ltd as of May 30, 2023 04:01 PM is 50.71

The latest PB ratio of Star Health & Allied Insurance Company Ltd as of May 30, 2023 04:01 PM is 0.21

The 52-week high of Star Health & Allied Insurance Company Ltd is ₹ 780.00 while the 52-week low is ₹ 469.05

According to analyst recommendations, Star Health & Allied Insurance Company Ltd has a “Buy” rating for the long term.

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