Turtlemint Fintech Solutions Ltd
Incorporated in 2015, Turtlemint Limited is
a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers.[1]
- Market Cap ₹ 1,882 Cr.
- Current Price ₹ 64.2
- High / Low ₹ 160 / 51.8
- Stock P/E
- Book Value ₹ 29.5
- Dividend Yield 0.00 %
- ROCE -35.7 %
- ROE -36.4 %
- Face Value ₹ 1.00
Pros
- Company is almost debt free.
- Debtor days have improved from 101 to 52.8 days.
- Company's working capital requirements have reduced from 427 days to 30.7 days
Cons
- Company has low interest coverage ratio.
- Promoter holding is low: 13.2%
- Company has a low return on equity of -34.5% over last 3 years.
* 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 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 294 | 420 | 79 | 663 | 1,098 | 1,272 | |
| Sales growth | +43% | -81% | +743% | +66% | ||
| 465 | 734 | 290 | 850 | 1,229 | 1,374 | |
| Operating Profit | -171 | -314 | -211 | -188 | -130 | -102 |
| OPM % | -58% | -75% | -269% | -28% | -12% | -8% |
| 11 | 40 | 40 | 30 | -44 | -5 | |
| Interest | 2 | 2 | 2 | 2 | 2 | 6 |
| Depreciation | 5 | 12 | 20 | 29 | 16 | 16 |
| Profit before tax | -168 | -288 | -193 | -189 | -193 | -129 |
| Tax % | 0% | 0% | 0% | 2% | -4% | |
| -168 | -288 | -193 | -194 | -184 | -123 | |
| EPS in Rs | -32.51 | -55.10 | -36.83 | -37.19 | -34.51 | -13.23 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 38% |
| TTM: | 66% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 16% |
| TTM: | 33% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -48% |
| 3 Years: | -35% |
| Last Year: | -36% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 0.01 | 5 | 29 |
| Reserves | 106 | 742 | 562 | 409 | 298 | 838 |
| 19 | 28 | 21 | 28 | 20 | 67 | |
| 74 | 131 | 30 | 119 | 126 | 140 | |
| Total Liabilities | 199 | 900 | 613 | 556 | 450 | 1,075 |
| 18 | 57 | 38 | 44 | 34 | 35 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 181 | 843 | 575 | 512 | 416 | 1,040 | |
| Total Assets | 199 | 900 | 613 | 556 | 450 | 1,075 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| -186 | -286 | -242 | -216 | -182 | |
| 196 | -579 | 248 | 235 | 172 | |
| -13 | 903 | -10 | -15 | -13 | |
| Net Cash Flow | -3 | 37 | -4 | 5 | -23 |
| Free Cash Flow | -192 | -298 | -243 | -218 | -185 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 108% | 91% | 111% | 132% | 120% |
Ratios
Consolidated / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 95 | 91 | 173 | 76 | 53 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 95 | 91 | 173 | 76 | 53 |
| Working Capital Days | 9 | 467 | 1,156 | 95 | 31 |
| ROCE % | -64% | -28% | -37% | -36% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Active Transacting Digital Partners count (quarterly average) |
|
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| Number of Digital Partners count |
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| Number of Insurance Policies Sold million |
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| Percentage of Platform Premium distributed in B30+ markets % |
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| Platform Premium ₹ million |
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| Top 3 Insurer Partners as % of Platform Premium % |
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| General Insurance as % of Revenue from Operations % |
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| PoSP Market Share in India % |
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Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Copy of newspaper advertisement for publication of unaudited financial results (standalone and consolidated) ....
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of Q2 and H1 FY27 earnings call uploaded on November 12, 2026.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- CARE report for quarter ended September 30, 2026 shows no deviation in Rs.660.72 crore IPO proceeds utilization.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Turtlemint announced Q2 FY27 and H1 FY27 results; platform premium rose 55% and revenue 35% year-on-year.
- Announcement under Regulation 30 (LODR)-Investor Presentation
Concalls
-
Nov 2026PPT REC
-
Aug 2026Transcript PPT REC
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Jul 2026Transcript PPT REC
Business Profile[1]
Turtlemint is a technology-enabled insurance distribution platform connecting customers, insurance advisors and insurers. It pioneered
the PoSP (Point of Sale Person) model in 2015 and operates India's largest certified PoSP network among peers as of December
2025.