Star Health Insurance earns net profit of Rs 102 crore in March quarter. The net premium income increased to Rs 19,426.57 crore compared to Rs 14,289.66 crore. our experts suggest that one can make buy position once it break the resistance of Rs 600.
Q4 Results
For the fourth quarter that ended in March 2023, Star Health and Allied Insurance reported a net profit of Rs. 102 crore on Friday.
The independent health insurance reported an 82 rupee deficit for the January-March fiscal quarter.
According to a regulatory filing, the insurer’s gross written premium (GWP) for the quarter increased from Rs 3,689 crore to Rs 4,199 crore.
From Rs 14,289.66 crore to Rs 19,426.57 crore, net premium income grew.
Profit after tax (PAT) for the entire fiscal year 2022–2023 was Rs 619 crore compared to a loss of Rs 1,041 crore in FY22.
“During the year ended March 31, 2023, the company pursuant to the approval received from the Insurance Regulatory and Development Authority of India (Irdai) has exercised Call Option and redeemed the Subordinated debenture in full on September 6, 2022, and October 29, 2022, amounting to Rs 200 crore and Rs 50 crore, respectively, including interest thereon,” the insurance company stated.
The corresponding debenture redemption reserve amounting to Rs 15 crore has been reversed and credited to the profit and loss account, it added.
The board appointed Anand Roy as the Chief Executive Officer and Managing Director of the company.
Let us look at the Fundamentals
Profit & Loss
Figures in Rs. CroresPRODUCT SEGMENTS
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 1,069 | 1,595 | 2,012 | 2,888 | 3,775 | 4,987 | 5,050 | 10,602 | 12,096 |
| Expenses + | 1,189 | 1,439 | 1,871 | 2,673 | 3,565 | 4,544 | 6,447 | 11,962 | 11,275 |
| Operating Profit | -120 | 156 | 141 | 215 | 210 | 443 | -1,397 | -1,360 | 821 |
| OPM % | -11% | 10% | 7% | 7% | 6% | 9% | -28% | -13% | 7% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 0 | -3 | 7 | 6 |
| Interest | 1 | 2 | 3 | 20 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 19 | 18 | 20 | 23 | 28 | 29 | 46 | 43 | 0 |
| Profit before tax | -140 | 137 | 118 | 171 | 182 | 413 | -1,446 | -1,397 | 826 |
| Tax % | 0% | 0% | 0% | 1% | 30% | 35% | 25% | 25% | 25% |
| Net Profit | -140 | 137 | 118 | 170 | 128 | 268 | -1,086 | -1,041 | 619 |
| EPS in Rs | -3.87 | 3.53 | 2.59 | 3.73 | 2.81 | 5.46 | -19.81 | -18.08 | 10.63 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 34% |
| TTM: | 14% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 29% |
| 3 Years: | 32% |
| TTM: | 160% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -8% |
| 3 Years: | -12% |
| Last Year: | 11% |
Balance Sheet
Figures in Rs. CroresCORPORATE ACTIONS
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|---|
| Share Capital + | 362 | 387 | 456 | 456 | 456 | 491 | 548 | 576 | 582 |
| Reserves | -220 | -27 | 334 | 504 | 773 | 1,153 | 2,947 | 4,045 | 6,007 |
| Borrowings + | 0 | 0 | 0 | 250 | 250 | 250 | 250 | 720 | 470 |
| Other Liabilities + | 954 | 1,012 | 1,423 | 2,138 | 3,394 | 4,233 | 6,756 | 8,173 | 9,299 |
| Total Liabilities | 1,096 | 1,372 | 2,213 | 3,347 | 4,872 | 6,127 | 10,501 | 13,514 | 16,358 |
| Fixed Assets + | 46 | 62 | 77 | 92 | 85 | 90 | 183 | 243 | 111 |
| CWIP | 12 | 3 | 7 | 5 | 13 | 12 | 19 | 4 | 0 |
| Investments | 502 | 807 | 1,428 | 2,165 | 3,030 | 4,290 | 6,733 | 11,243 | 13,392 |
| Other Assets + | 535 | 500 | 700 | 1,085 | 1,744 | 1,735 | 3,565 | 2,023 | 2,854 |
| Total Assets | 1,096 | 1,372 | 2,213 | 3,347 | 4,872 | 6,127 | 10,501 | 13,514 | 16,358 |
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