PB Fintech Ltd, popularly known asPolicy Bazaris 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]
Business Platforms1) PolicyBazaar:The company’s flagship brand, Policybazaar, is India’s leading digital insurance marketplace, holding a93% 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]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | One 97 | 1332.10 | 785.27 | 85218.19 | 0.00 | 21.00 | 149.74 | 2061.00 | 24.23 | -10.14 | 7718.30 | -1.29 | 108.52 | 202.00 | 5.55 | -7.31 | 0.01 |
| 2. | PB Fintech. | 1743.80 | – | 80681.22 | 0.00 | 0.69 | -87.20 | 49.38 | 31.23 | -0.03 | 175.31 | -136.02 | -5.07 | 0.69 | 9.92 | -0.03 | 0.00 |
| 3. | Pine Labs | 240.77 | – | 27647.05 | 0.00 | 5.97 | 118.65 | 649.90 | 17.83 | -0.49 | 2274.27 | 9.60 | -114.13 | 5.97 | – | -1.12 | 0.23 |
| 4. | Infibeam Avenues | 16.51 | 24.26 | 5740.60 | 0.00 | 67.65 | 50.94 | 1964.91 | 93.27 | 8.65 | 5475.99 | 5.74 | 236.64 | 66.52 | 1.11 | 4.59 | 0.02 |
| 5. | Seshaasai Tech. | 285.70 | 21.49 | 4622.79 | 0.00 | 57.88 | -10.91 | 351.35 | -10.98 | 36.54 | 1462.21 | 24.62 | 222.21 | 57.88 | 3.61 | 20.96 | 0.26 |
| 6. | One Mobikwik | 227.39 | – | 1788.61 | 0.00 | -26.98 | -420.62 | 268.30 | -7.34 | -13.13 | 1071.90 | -14.94 | -163.06 | -15.15 | 3.30 | -10.83 | 0.69 |
| 7. | MOS Utility | 24.05 | 39.71 | 619.14 | 0.00 | 9.26 | 54.33 | 315.81 | 2.46 | 19.20 | 624.06 | 4.22 | 15.59 | 8.38 | 6.57 | 9.41 | 0.53 |
| – | Median: 8 Co. | 234.08 | 25.06 | 5181.69 | 0.0 | 7.62 | 44.28 | 333.58 | 21.03 | 4.31 | 1267.06 | 4.98 | 12.68 | 7.18 | 4.58 | 2.28 | 0.24 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 31.99 | 27.14 | 38.89 | 35.22 | 30.07 | 40.19 | 43.39 | 34.31 | 46.85 | 30.30 | 13.62 | 37.63 | 49.38 |
Expenses | 78.22 | 62.44 | 85.30 | 73.90 | 82.91 | 87.62 | 71.62 | 103.16 | 141.45 | 124.35 | 74.71 | 98.14 | 99.39 |
Operating Profit | -46.23 | -35.30 | -46.41 | -38.68 | -52.84 | -47.43 | -28.23 | -68.85 | -94.60 | -94.05 | -61.09 | -60.51 | -50.01 |
Other Income | 45.04 | 63.15 | 65.36 | 61.69 | 65.42 | 56.46 | 58.80 | 63.10 | 74.38 | 52.15 | 63.90 | 67.73 | 52.48 |
Profit before tax | -2.34 | 26.96 | 18.08 | 22.02 | 11.67 | 7.88 | 29.43 | -6.62 | -21.10 | -43.07 | 1.89 | 6.32 | 0.73 |
Tax % | 0.00% | 0.00% | 22.73% | 0.00% | 15.17% | 8.38% | 0.00% | 121.75% | -25.17% | 0.00% | 0.00% | 14.72% | 5.48% |
Net Profit | -2.34 | 26.96 | 13.97 | 22.02 | 9.90 | 7.22 | 29.43 | -14.68 | -15.79 | -43.07 | 1.89 | 5.39 | 0.69 |
EPS in Rs | -0.05 | 0.60 | 0.30 | 0.49 | 0.22 | 0.16 | 0.65 | -0.33 | -0.34 | -0.96 | 0.04 | 0.12 | 0.02 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 50 | 105 | 79 | 50 | 61 | 123 | 103 | 134 | 110 | 153 | 175 |
Expenses | 161 | 106 | 122 | 89 | 89 | 144 | 513 | 398 | 314 | 408 | 414 |
Operating Profit | -111 | -1 | -43 | -39 | -28 | -20 | -409 | -264 | -204 | -254 | -238 |
Other Income | 34 | 53 | 25 | 34 | 58 | 54 | 114 | 195 | 252 | 273 | 249 |
Interest | 0 | 0 | 0 | 0 | 1 | 2 | 1 | 1 | 1 | 0 | 1 |
Depreciation | 2 | 1 | 3 | 1 | 9 | 4 | 4 | 4 | 3 | 3 | 3 |
Profit before tax | -80 | 50 | -21 | -6 | 19 | 27 | -300 | -74 | 44 | 15 | 6 |
Net Profit | -79 | 76 | -47 | -16 | 10 | 19 | -300 | -74 | 36 | 13 | 6 |
EPS in Rs | -22,080.56 | 21,063.89 | -12,944.60 | -4,160.53 | 2,563.16 | 833.04 | -6.67 | -1.65 | 0.80 | 0.29 | 0.14 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 90 | 90 | 90 | 92 | 92 |
Reserves | 346 | 429 | 921 | 956 | 2,042 | 2,940 | 6,805 | 7,273 | 7,639 | 7,866 | 7,984 |
Borrowings | 1 | 1 | 1 | 1 | 3 | 15 | 11 | 8 | 5 | 1 | 28 |
Other Liabilities | 17 | 63 | 47 | 11 | 19 | 44 | 19 | 16 | 71 | 101 | 57 |
Total Liabilities | 364 | 493 | 969 | 968 | 2,064 | 2,999 | 6,924 | 7,387 | 7,806 | 8,059 | 8,160 |
Fixed Assets | 6 | 3 | 2 | 2 | 3 | 16 | 12 | 8 | 6 | 3 | 28 |
Gross Block | 14.81 | 14.70 | 7.38 | 4.54 | 10.98 | 24.17 | 22.77 | 22.66 | 23.43 | 23.46 | – |
Accumulated Depreciation | 9.31 | 12.02 | 5.59 | 2.72 | 7.50 | 8.44 | 11.28 | 14.66 | 17.71 | 20.73 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 276 | 380 | 885 | 659 | 914 | 1,146 | 2,416 | 3,903 | 4,840 | 5,370 | 5,998 |
Other Assets | 82 | 110 | 82 | 307 | 1,147 | 1,836 | 4,497 | 3,476 | 2,959 | 2,686 | 2,134 |
Total Assets | 364 | 493 | 969 | 968 | 2,064 | 2,999 | 6,924 | 7,387 | 7,806 | 8,059 | 8,160 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -56 | 87 | -57 | -199 | -13 | 71 | -57 | -5 | 43 | -103 |
Cash from Investing Activity | -248 | -78 | -463 | 231 | -267 | -1,283 | -3,748 | -180 | 95 | 316 |
Cash from Financing Activity | 315 | 0 | 513 | 0 | 1,050 | 776 | 3,642 | -3 | -3 | -2 |
Net Cash Flow | 11 | 9 | -7 | 32 | 770 | -436 | -163 | -188 | 134 | 210 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 193 | 106 | 127 | 30 | 46 | 35 | 20 | 2 | 6 | 2 |
Inventory Days | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | 193 | 106 | 127 | 30 | 46 | 35 | 20 | 2 | 6 | 2 |
Working Capital Days | 247 | -16 | -22 | 524 | 245 | 50 | 4,260 | 4,293 | 7,257 | 2,104 |
ROCE % | – | 7% | -6% | -4% | -1% | 0% | -6% | -1% | 1% | -0% |
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Stock Analysis
PB Fintech Ltd, popularly known as PolicyBazaar, 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.
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