PB Fintech Ltd

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PB Fintech. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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PB Fintech Ltd

₹ 1,070 -0.87%
16 Oct - close price
pbfintech.in BSE: 543390 NSE: POLICYBZR F&O
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

Business Model[1]
PB Fintech runs an asset-light, digital-first model for distributing and servicing financial products. It does not underwrite insurance or carry lending risk on its own balance sheet. The Core Online business comprises Policybazaar and Paisabazaar. Distribution runs through three channels: B2C direct, B2B2C through POSP partners, and B2B corporate. The company covers the full customer lifecycle, from discovery and advice to the transaction, servicing, claims, and renewals.

Website BSE NSE F&O
  • Market Cap ₹ 49,515 Cr.
  • Current Price ₹ 1,070
  • High / Low ₹ 1,964 / 945
  • Stock P/E 66.2
  • Book Value ₹ 158
  • Dividend Yield 0.00 %
  • ROCE 10.3 %
  • ROE 9.75 %
  • Face Value ₹ 2.00
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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 171 days to 68.1 days

Cons

  • Stock is trading at 6.77 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 5.58% over last 3 years.
  • Earnings include an other income of Rs.370 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.

Peer comparison

Financial Services Financial Services Financial Technology (Fintech) Financial Technology (Fintech)

Part of BSE 500 BSE 100 BSE 200 BSE Dollex 200 Nifty 500

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
666 812 871 1,090 1,010 1,167 1,292 1,508 1,348 1,614 1,771 2,061 1,888
743 901 898 1,085 1,050 1,175 1,264 1,396 1,314 1,516 1,612 1,849 1,751
Operating Profit -77 -89 -27 5 -39 -8 28 112 34 98 159 212 137
OPM % -12% -11% -3.1% 0.5% -3.9% -0.7% 2.1% 7% 2.5% 6% 9% 10% 7%
91 97 94 98 141 106 100 101 100 87 85 104 93
Interest 6 7 6 7 6 9 9 9 9 9 9 10 11
Depreciation 20 22 23 24 25 29 34 33 33 34 34 35 40
Profit before tax -12 -21 37 73 71 60 85 171 92 142 201 272 179
Tax % 3% -1% 0% 17% 15% 15% 16% 0% 8% 5% 6% 4% 9%
-12 -21 37 60 60 51 72 170 85 135 189 261 163
EPS in Rs -0.25 -0.45 0.84 1.34 1.32 1.11 1.56 3.70 1.84 2.94 4.09 5.64 3.52
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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 TTM
78 90 334 492 771 887 1,425 2,558 3,438 4,977 6,794 7,334
149 232 386 828 1,091 1,046 2,325 3,219 3,626 4,884 6,286 6,729
Operating Profit -72 -142 -52 -336 -320 -160 -901 -662 -188 93 508 606
OPM % -92% -157% -16% -68% -41% -18% -63% -26% -5% 1.9% 7% 8%
10 35 26 37 84 71 124 259 381 449 372 370
Interest 0 0 0 8 12 12 14 22 27 34 38 39
Depreciation 2 3 7 30 47 41 43 64 89 121 136 143
Profit before tax -64 -110 -34 -337 -295 -142 -833 -488 77 387 707 794
Tax % 0% 0% 76% 3% 3% 6% -0% -0% 16% 9% 5%
-64 -110 -59 -347 -304 -150 -833 -488 64 352 670 748
EPS in Rs -6.38 -11.02 -5.92 -34.68 -30.40 -13.17 -18.53 -10.82 1.48 7.67 14.48 16.19
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: 38%
Compounded Profit Growth
10 Years: 22%
5 Years: 42%
3 Years: 50%
TTM: 99%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 13%
1 Year: -35%
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 6,341 7,219
0 1 1 90 110 110 159 227 253 322 360
29 43 92 172 202 230 344 551 604 776 1,035
Total Liabilities 126 345 880 751 1,576 2,331 5,915 6,254 6,729 7,531 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 4,940 5,054
Total Assets 126 345 880 751 1,576 2,331 5,915 6,254 6,729 7,531 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 46 301 492 225
119 315 513 -23 1,031 759 3,621 -42 -57 -73 -81
Net Cash Flow 2 -27 -5 69 746 -415 -71 -295 253 236 186
Free Cash Flow -121 -305 -97 -317 -396 24 -1,599 -363 -55 -280 -36
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 143% 68% 107% 73% 102% 12% 171% 38% -110% -71% 15%

Ratios

Consolidated / 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 68
ROCE % -63% -53% -36% -9% -21% -8% 2% 6% 10%

Insights

In beta
Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Total Insurance Premium (PB Fintech consolidated, restated)
INR Crore

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Total Loan Disbursal (Paisabazaar)
INR Crore
Health Insurance Overall Renewal Persistency
Percent
Unique Transacting Customers (Policybazaar)
Millions
PB Partners Pin Codes Covered
Thousands
Health Insurance Retail Fresh Market Share
Percent
PB Partners Registered Partners
Thousands
PB Partners Active Partners
Thousands

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Shareholding Pattern

Numbers in percentages

4 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
49.40% 46.00% 48.97% 51.58% 49.70% 47.78% 45.93% 46.78% 43.64% 40.77% 39.94% 37.29%
16.31% 18.97% 16.64% 16.17% 18.31% 20.57% 22.95% 23.27% 26.63% 29.54% 36.72% 40.42%
33.46% 34.28% 33.81% 31.69% 31.44% 31.35% 30.85% 29.65% 29.47% 29.55% 23.19% 22.14%
0.83% 0.76% 0.59% 0.55% 0.54% 0.28% 0.28% 0.28% 0.27% 0.14% 0.14% 0.14%
No. of Shareholders 1,80,7651,65,9331,52,1531,45,3831,52,9481,48,2751,51,2051,64,5511,65,6001,59,2431,53,2611,50,458

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

DRHP

Concalls