PB Fintech Ltd
PB Fintech Ltd, popularly known as Policy Bazar is India’s largest online platform for insurance and lending products through its flagship brands - Policybazaar and Paisabazaar platform through which they provide convenient access to insurance, credit and other financial products[1]
- Market Cap ₹ 83,185 Cr.
- Current Price ₹ 1,811
- High / Low ₹ 2,255 / 1,311
- Stock P/E 220
- Book Value ₹ 140
- Dividend Yield 0.00 %
- ROCE 5.90 %
- ROE 5.13 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 23.2% CAGR over last 5 years
- Company's median sales growth is 44.8% of last 10 years
- Company's working capital requirements have reduced from 255 days to 122 days
Cons
- Stock is trading at 12.9 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Company has a low return on equity of -0.61% over last 3 years.
- Earnings include an other income of Rs.408 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
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78 | 90 | 334 | 492 | 771 | 887 | 1,425 | 2,558 | 3,438 | 4,977 | 5,315 | |
149 | 232 | 386 | 828 | 1,091 | 1,046 | 2,325 | 3,219 | 3,626 | 4,883 | 5,148 | |
Operating Profit | -72 | -142 | -52 | -336 | -320 | -160 | -901 | -662 | -188 | 94 | 167 |
OPM % | -92% | -157% | -16% | -68% | -41% | -18% | -63% | -26% | -5% | 2% | 3% |
10 | 35 | 26 | 37 | 84 | 71 | 124 | 259 | 381 | 449 | 408 | |
Interest | 0 | 0 | 0 | 8 | 12 | 12 | 14 | 22 | 27 | 34 | 36 |
Depreciation | 2 | 3 | 7 | 30 | 47 | 41 | 43 | 64 | 89 | 121 | 130 |
Profit before tax | -64 | -110 | -34 | -337 | -295 | -142 | -833 | -488 | 77 | 388 | 409 |
Tax % | 0% | 0% | 76% | 3% | 3% | 6% | -0% | -0% | 16% | 9% | |
-64 | -110 | -59 | -347 | -304 | -150 | -833 | -488 | 64 | 353 | 378 | |
EPS in Rs | -17,719.44 | -30,600.00 | -16,396.12 | -91,265.79 | -80,007.89 | -6,583.70 | -18.53 | -10.82 | 1.48 | 7.69 | 8.23 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 52% |
5 Years: | 45% |
3 Years: | 52% |
TTM: | 41% |
Compounded Profit Growth | |
---|---|
10 Years: | 21% |
5 Years: | 23% |
3 Years: | 34% |
TTM: | 264% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 47% |
1 Year: | 0% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | -5% |
3 Years: | -1% |
Last Year: | 5% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 90 | 90 | 90 | 92 |
Reserves | 97 | 301 | 787 | 489 | 1,265 | 1,990 | 5,322 | 5,386 | 5,781 | 6,340 |
0 | 1 | 1 | 90 | 110 | 110 | 159 | 227 | 253 | 322 | |
29 | 43 | 92 | 172 | 202 | 230 | 344 | 551 | 604 | 775 | |
Total Liabilities | 126 | 345 | 880 | 751 | 1,576 | 2,331 | 5,915 | 6,254 | 6,729 | 7,529 |
4 | 6 | 11 | 119 | 147 | 125 | 205 | 313 | 359 | 418 | |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 19 | 237 | 650 | 125 | 2 | 138 | 373 | 622 | 1,358 | 2,173 |
103 | 102 | 219 | 507 | 1,427 | 2,068 | 5,338 | 5,319 | 5,011 | 4,938 | |
Total Assets | 126 | 345 | 880 | 751 | 1,576 | 2,331 | 5,915 | 6,254 | 6,729 | 7,529 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
-102 | -97 | -83 | -282 | -364 | 29 | -1,568 | -299 | 9 | -183 | |
-15 | -244 | -434 | 375 | 79 | -1,202 | -2,125 | 46 | 301 | 491 | |
119 | 315 | 513 | -23 | 1,031 | 759 | 3,621 | -42 | -57 | -73 | |
Net Cash Flow | 2 | -27 | -5 | 69 | 746 | -415 | -71 | -295 | 253 | 236 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2015 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 120 | 156 | 105 | 97 | 85 | 71 | 92 | 97 | 67 | 73 |
Inventory Days | ||||||||||
Days Payable | ||||||||||
Cash Conversion Cycle | 120 | 156 | 105 | 97 | 85 | 71 | 92 | 97 | 67 | 73 |
Working Capital Days | 57 | 93 | 29 | -12 | 0 | -12 | 309 | 321 | 323 | 122 |
ROCE % | -63% | -53% | -36% | -9% | -21% | -8% | 2% | 6% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
1d - Allotment of 50,082 Equity Shares against exercise of vested Employee Stock Options under Employees Stock Option Plan 2021
- Reg. 34 (1) Annual Report. 2d
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Business Responsibility and Sustainability Reporting (BRSR)
2d - Revised BRSR FY2024-25 submitted including Independent Assurance Statement; earlier Sept 04 submission omitted it.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
5 Sep - Copies of the newspaper advertisement published today confirming dispatch of Notice of the 17th Annual General Meeting of the Company
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Dispatch Of Physical Communication To Shareholders For Notice And Annual Report
4 Sep - AGM on September 26, 2025; Notice and FY24-25 Annual Report available; links and KYC update reminder.
Annual reports
Concalls
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT
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Feb 2025Transcript PPT
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Jan 2025TranscriptNotesPPT
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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May 2024Transcript PPT REC
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023TranscriptPPTREC
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Aug 2023TranscriptNotesPPTREC
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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Jun 2022Transcript PPT
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Feb 2022Transcript PPT
Business Platforms
1) PolicyBazaar: The company’s flagship brand, Policybazaar, is India’s leading digital insurance marketplace, holding a 93% market share. It primarily caters to middle-class families in India, offering protection against death, disease, and disability through products like health, term, motor, and travel insurance, etc. As of Q2 FY25, the platform has 86.9 million registered users, and 18.3 million active users, and has sold over 46.8 million insurance policies. [1] [2] [3]