PB Fintech Q4 Results Review: Balanced Print In Terms Of Growth, Margin Augurs Well: ICICI Securities

Core premium for PB Fintech witnessed strong 35.2% YoY growth and stood at Rs 47.5 billion in Q4 FY25. The split of fresh and renewal premium remained steady at 50:50 which has also been a broad trend. Core new insurance premium grew 21% YoY (net of savings grew 38% YoY) in Q4 FY25..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.PB Fintech Ltd.’s Q4 FY25 print underlines a significantly more balanced performance in terms of growth and margins. The results also underline better strategic results in terms of growth in more relevant segments such as health/life, continued build-up of renewal book, and a structured foray into secured loan distribution with improvement in contribution/Ebitda margin across segments. PB Fintech’s ability to gain market share, strong annual renewal revenue book (Rs 8.2 billion) and expansion of client base alongside growth in registered customers (27.5 million/7.7 million newly registered customers on Policy Bazaar/Paisa bazaar in FY25) are structural advantages. Retain Hold; DCF-based target price revised to Rs 1,840 (vs Rs 1,604 previously), implying a valuation multiple of ~82x for FY27E. Less-than-expected growth in core premium poses downside risk, while upside risk stems from better cost optimisation, leading to a healthier contribution ratio; and continued growth trajectory basis superior execution including new initiatives..Click on the attachment to read the full report:.Eris Lifesciences Q4 Results Review: Motilal Oswal Maintains 'Neutral', But Hikes Target Price - Here's Why.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

PB Fintech Q4 Results Review: Balanced Print In Terms Of Growth, Margin Augurs Well: ICICI Securities

ICICI Securities retains Hold; DCF-based target price revised to Rs 1,840 (vs Rs 1,604 previously), implying a valuation multiple of ~82x for FY27E.

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PB Fintech Q4 Results Review: Balanced Print In Terms Of Growth, Margin Augurs Well: ICICI Securities

ICICI Securities retains Hold; DCF-based target price revised to Rs 1,840 (vs Rs 1,604 previously), implying a valuation multiple of ~82x for FY27E.

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