Star Health & Allied Insurance Company Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹4,561Cr
- +12.4% YoY
- −6.5% QoQ
- Net profit
- ₹80Cr
- −27.9% YoY
- −81.7% QoQ
- Margin
- 2.5%
- −1.1 pp YoY
- −9.5 pp QoQ
Top 4 Insurance companies on management guidance
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The short version
Encouraging improvement in loss ratio in Q2 signals positive trend for growth. The company is focused on a long-term strategy to improve Return on Equity (RoE), targeting mid-teens RoE by 2027-2028.
From Star Health & Allied Insurance Company Ltd's Q2 FY26 earnings-call transcript · updated 26 Aug 2026.
Revenue & Sales Performance
- Encouraging improvement in loss ratio in Q2 signals positive trend for growth.
- GST exemption on retail health insurance expected to provide strong tailwinds, boosting demand and affordability.
- Fresh business growth robust, with about 50% growth in new policies noted in October.
- Retail health business focus with preferred geographies showing 1.5x faster growth than company average.
- Long-term policies growing significantly; about 13% of policies are long-term with higher value contribution (35-40%).
- Digital channels growing rapidly (~47% YoY fresh premium growth), contributing 20% of fresh business.
- Agency channel remains strong, with 20% growth in fresh business and expanding agent base (~8 lakh agents).
- Continuous portfolio recalibration and pricing discipline expected to support profitable growth.
2 more points from Star Health & Allied Insurance Company Ltd's call on revenue
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Profitability & Margins
The company is focused on a long-term strategy to improve Return on Equity (RoE), targeting mid-teens RoE…
Locked: what Star Health & Allied Insurance Company Ltd said on margins
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Capital Expenditure Plans
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Top-ranked in Insurance
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
The management focuses primarily on profitable growth, improving loss ratios, and operational efficiencies.
Locked: what Star Health & Allied Insurance Company Ltd said on fundraising
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Order Book & Pipeline
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Star Health & Allied Insurance Company Ltd — Quarterly revenue & net profit
Star Health & Allied Insurance Company Ltd Q2 FY26 results — key figures
| ₹ Cr | Q2 FY26 | Q2 FY25 | YoY | Q1 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 4,561 | 4,058 | +12.4% | 4,880 | -6.5% |
| Operating profit (EBITDA) | 113 | 147 | -23.1% | 588 | -80.8% |
| Operating margin | 2.5% | 3.6% | -1.1 pp | 12% | -9.5 pp |
| Profit before tax | 112 | 149 | -24.8% | 588 | -81% |
| Net profit (PAT) | 80 | 111 | -27.9% | 438 | -81.7% |
| EPS (₹) | 1.35 | 1.89 | -28.6% | 7.45 | -81.9% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹5.3K Cr, net profit ₹265 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Star Health Insu's management said in earlier quarters
Others in Insurance this season
- Niva Bupa Health (Q2 FY26)
October saw over 50% growth in retail sales, driven by GST reduction from 18% to 0%, enhancing affordability and demand. Key concall takeaways from Niva Bupa…
- Medi Assist Healthcare Services (Q2 FY26)
The partnership with Star Health for the MAtrix claims platform shows promising volume migration, currently at 40%, with full migration ongoing. Key concall…
- Life Insurance (Q2 FY26)
Individual New Business Premium (NBP) rose 67%, propelled by bancassurance and alternate channels, with new tie-ups (e.g., AU Small Finance Bank) contributing…
- ICICI Lombard (Q2 FY26)
The company is focused on sustaining an ROE in the range of 18%-20%. Key concall takeaways from ICICI Lombard's Q2 FY26 earnings call — and how it ranks…
Potential multibaggers · Q2 FY27
Potential multibaggers in Insurance
on management's own guidance
- Max FinancialModerate growth2
- Niva Bupa HealthGood growth1
- HDFC Life Insurance CompanyModerate growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Star Health & Allied Insurance Company Ltd Q2 FY26 results?
Encouraging improvement in loss ratio in Q2 signals positive trend for growth. The company is focused on a long-term strategy to improve Return on Equity (RoE), targeting mid-teens RoE by 2027-2028.
What is Star Health & Allied Insurance Company Ltd share price analysis?
Star Health & Allied Insurance Company Ltd currently shows a neutral. The stock trades at a P/E of 40.3 with a market cap of ₹34,052 Cr. Investors should review the full earnings analysis for detailed insights.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.