Star Health & Allied Insurance Company Ltd

Q3 FY25Insurance

Star Health & Allied Insurance Company Q3 FY25 earnings call: Revenue & Margins

Q3 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹578

Market cap₹34.6K Cr

P/E41.0

Updated23 Aug 2026

Read4 min read

The short version

The company is experiencing good growth in retail business with expansion in product and distribution profiles. Star Health targets doubling its top line by FY28, aiming for around 18% growth annually from FY24 onwards.

From Star Health & Allied Insurance Company Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

The company is experiencing good growth in retail business with expansion in product and distribution profiles.
For the first nine months, there was a 50% volume growth and 50% value growth; Q3 showed around 7% growth in both volume and value for Retail Health.
Fresh retail health business grew by 22% in the first nine months, with retail fresh policy growth at 13%.
Digital fresh business grew by 58%, with "Super Star" product driving fresh growth, becoming a top seller on digital platforms.
The largest premium quarter is expected to be Q4; with price interventions taken in December and January 2025, financials are expected to improve going forward.

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Profitability & Margins

Star Health targets doubling its top line by FY28, aiming for around 18% growth annually from FY24 onwards.
Retail fresh business growth has been strong, with 22% growth in 9 months FY25 and 13% volume growth in Q3.
Price hikes across 65% of retail health portfolio (up to Jan 2025) are expected to positively impact loss ratios over the next 18-24 months.
Claims frequency and severity are a challenge, but consistent price increases and corrective underwriting measures aim to improve profitability.
Expense ratio is expected to improve gradually by 0.5-0.75% with scale benefits and "1/N" accounting normalization.
Investment income grew 15% over 9 months to Rs. 996 crore, supporting profitability.
PAT for 9 months FY25 was Rs. 645 crore with PBT of Rs. 862 crore; management aims to maintain positive PAT trajectory.

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Capital Expenditure Plans

The transcript on page 17 and surrounding pages does not specifically mention any current or future capex, capital investment, or strategic investment plans by Star Health and Allied Insurance Company Ltd. Key points related to strategic focus: - The company is working with the GI Council and major hospital groups to improve billing hygiene and reimbursement processes. - Focus on improving hospital supply and maturity cycles, but no specific investment details are disclosed. - Emphasis on portfolio correction measures, micro-segmentation, and improving retention and fresh business growth. No explicit mention of capital or strategic investments such as capex or partnerships is provided in the disclosed Q&A session.

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

The document does not mention any current or planned future fundraising activities through debt or equity by Star Health and Allied Insurance Company Ltd. There is no specific information provided regarding raising capital via new debt issuance or equity offerings during the period covered in the report up to January 29, 2025. The discussions primarily focus on operational performance, regulatory impacts, pricing strategies, loss ratios, product growth, and distribution channels without reference to fundraising plans.

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Order Book & Pipeline

The provided transcript from Star Health and Allied Insurance Company's call does not contain information related to current or expected orderbook or pending orders. The discussion mainly focuses on: - Business growth metrics (retail health, digital, agency, banca, corporate). - Pricing strategies and their impact on loss ratios. - Claims management and hospital industry interaction. - Product launches and renewal persistency.

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Star Health & Allied Insurance Company Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹4.6K Cr, net profit ₹111 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Star Health & Allied Insurance Company Ltd Q3 FY25 results?

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Star Health & Allied Insurance Company Ltd currently shows a neutral. The stock trades at a P/E of 41.0 with a market cap of ₹34,614 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.

Revenue & Sales Performance

Profitability & Margins

Capital Expenditure Plans

Top-ranked in Insurance

Fundraising & Capital Structure

Order Book & Pipeline

Star Health & Allied Insurance Company Ltd — Quarterly revenue & net profit

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What Star Health Insu's management said in earlier quarters

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Frequently Asked Questions

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