PB Fintech Limited has informed the Exchange about Transcript
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PB Fintech reported total insurance premium of ₹4,871 Cr for Q1 FY25, with Health and Life insurance growing 78% year-on-year and new Core insurance premium up 66%. Revenue grew 52% YoY to just over ₹1,000 Cr and the company turned profitable with a PAT of ₹60 Cr, though management said profit could have been ₹90 Cr but chose to over-invest ~$3 million in operating capacity. Credit (Paisabazaar) business remained weak at ₹130 Cr, down 8% YoY, and management said they are evaluating a stronger strategic direction. New initiatives (PB Partners, UAE) grew 2.3x with adjusted EBITDA margin improving sharply from -31% to -12%. Renewal/trail ARR stood at ₹559 Cr versus ₹418 Cr a year ago, with management guiding full-year renewal growth of 45-46%. A one-off GST cost of ₹25 Cr impacted the quarter. Management ruled out shareholder returns before March 2026.
Strong growth in core insurance and a return to profitability are positives for the stock, but weaker credit business and declining take rates in Savings due to ULIP mix keep near-term margin pressure in focus. Over-investment in capacity signals management confidence in growth but may cap short-term profit upside.