PB Fintech Ltd
₹ 1,793
-0.55%
20 May
9:09 a.m.
About
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]
Key Points
- Market Cap ₹ 82,977 Cr.
- Current Price ₹ 1,793
- High / Low ₹ 1,978 / 1,334
- Stock P/E 124
- Book Value ₹ 158
- Dividend Yield 0.00 %
- ROCE 10.3 %
- ROE 9.75 %
- Face Value ₹ 2.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 41.9% CAGR over last 5 years
- Company's median sales growth is 46.1% of last 10 years
- Company's working capital requirements have reduced from 196 days to 141 days
Cons
- Stock is trading at 11.4 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 5.63% over last 3 years.
- Earnings include an other income of Rs.372 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.
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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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 78 | 90 | 334 | 492 | 771 | 887 | 1,425 | 2,558 | 3,438 | 4,977 | 6,794 | |
| 149 | 232 | 386 | 828 | 1,091 | 1,046 | 2,325 | 3,219 | 3,626 | 4,883 | 6,286 | |
| Operating Profit | -72 | -142 | -52 | -336 | -320 | -160 | -901 | -662 | -188 | 94 | 508 |
| OPM % | -92% | -157% | -16% | -68% | -41% | -18% | -63% | -26% | -5% | 2% | 7% |
| 10 | 35 | 26 | 37 | 84 | 71 | 124 | 259 | 381 | 449 | 372 | |
| Interest | 0 | 0 | 0 | 8 | 12 | 12 | 14 | 22 | 27 | 34 | 37 |
| Depreciation | 2 | 3 | 7 | 30 | 47 | 41 | 43 | 64 | 89 | 121 | 136 |
| Profit before tax | -64 | -110 | -34 | -337 | -295 | -142 | -833 | -488 | 77 | 388 | 707 |
| Tax % | 0% | 0% | 76% | 3% | 3% | 6% | -0% | -0% | 16% | 9% | 5% |
| -64 | -110 | -59 | -347 | -304 | -150 | -833 | -488 | 64 | 353 | 670 | |
| 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 | 14.48 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 54% |
| 5 Years: | 50% |
| 3 Years: | 38% |
| TTM: | 37% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 42% |
| 3 Years: | 50% |
| TTM: | 112% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 42% |
| 1 Year: | 9% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -1% |
| 3 Years: | 6% |
| Last Year: | 10% |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 90 | 90 | 90 | 92 | 93 |
| Reserves | 97 | 301 | 787 | 489 | 1,265 | 1,990 | 5,322 | 5,386 | 5,781 | 6,340 | 7,219 |
| 0 | 1 | 1 | 90 | 110 | 110 | 159 | 227 | 253 | 322 | 360 | |
| 29 | 43 | 92 | 172 | 202 | 230 | 344 | 551 | 604 | 775 | 1,035 | |
| Total Liabilities | 126 | 345 | 880 | 751 | 1,576 | 2,331 | 5,915 | 6,254 | 6,729 | 7,529 | 8,707 |
| 4 | 6 | 11 | 119 | 147 | 125 | 205 | 313 | 359 | 418 | 441 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 19 | 237 | 650 | 125 | 2 | 138 | 373 | 622 | 1,358 | 2,173 | 3,211 |
| 103 | 102 | 219 | 507 | 1,427 | 2,068 | 5,338 | 5,319 | 5,011 | 4,938 | 5,054 | |
| Total Assets | 126 | 345 | 880 | 751 | 1,576 | 2,331 | 5,915 | 6,254 | 6,729 | 7,529 | 8,707 |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| -102 | -97 | -83 | -282 | -364 | 29 | -1,568 | -299 | 9 | -183 | 41 | |
| -15 | -244 | -434 | 375 | 79 | -1,202 | -2,125 | 46 | 301 | 491 | 214 | |
| 119 | 315 | 513 | -23 | 1,031 | 759 | 3,621 | -42 | -57 | -73 | -81 | |
| Net Cash Flow | 2 | -27 | -5 | 69 | 746 | -415 | -71 | -295 | 253 | 236 | 174 |
| Free Cash Flow | -121 | -305 | -97 | -317 | -396 | 24 | -1,599 | -363 | -55 | -280 | -36 |
| CFO/OP | 143% | 68% | 107% | 73% | 102% | 12% | 171% | 38% | -110% | -70% | 15% |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 120 | 156 | 105 | 97 | 85 | 71 | 92 | 97 | 67 | 73 | 93 |
| Inventory Days | |||||||||||
| Days Payable | |||||||||||
| Cash Conversion Cycle | 120 | 156 | 105 | 97 | 85 | 71 | 92 | 97 | 67 | 73 | 93 |
| Working Capital Days | 57 | 93 | 29 | -12 | 0 | -12 | 309 | 321 | 323 | 122 | 141 |
| ROCE % | -63% | -53% | -36% | -9% | -21% | -8% | 2% | 6% | 10% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cumulative Credit Score Consumers Million |
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| Insurance Premium Sourced INR Crore |
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| Lending Disbursals INR Crore |
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| Cumulative Insurance Policies Sold Million |
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| CSAT (Policybazaar Online) % ・Standalone data |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
14 May - The copies of newspaper publication regarding completion of dispatch of postal ballot notice
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 13 May
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
12 May - The Transcript of Earnings Call conducted on May 06, 2026.
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Board Meeting Outcome for Outcome Of The Board Meeting Held On Monday, May 11, 2026
11 May - Board approved independent director reappointments, one new appointment, ESOP extension, and audit committee reconstitution.
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Announcement under Regulation 30 (LODR)-Change in Directorate
11 May - Board approved director reappointments, one independent director appointment, ESOP 2021 extension, and audit committee reconstitution.
Annual reports
Concalls
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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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 2025TranscriptAI SummaryPPT
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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 2023TranscriptPPTREC
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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]