PB Fintech Ltd: Strong Market Leader in Digital Insurance & Lending– 52-Week Low & Stock Analysis
Business and Industry Overview:
PB Fintech Limited is a leading Indian fintech company based in Gurgaon. It operates in two segments, Insurance Web Aggregator/Insurance Broker services and Other Services. It has two main core platforms that are Policybazaar and Paisabazaar, which offer digital insurance and lending products. It was founded in 2008 by Yashish Dahiya, Alok Bansal, and Avaneesh Nirjar. It was initially focused on insurance comparison but later expanded into direct insurance sales and digital lending. PolicyBazaar is India’s largest digital insurance marketplace (93% market share), providing health, term, motor, and travel insurance. As of Q2 FY25, it has 86.9M registered users and has sold 46.8M+ insurance policies. PaisaBazaar is India’s largest credit product comparison platform, serving 47M+ consumers across 820+ cities, facilitating loans, credit cards, and credit score services. Apart from these two, they have PB Partners a B2A2C (Business-to-Agent-to-Consumer) platform enabling 250,000+ insurance agents through a Platform-as-a-Service (PaaS) model. The company operates under regulations from the Insurance Regulatory and Development Authority of India (IRDAI) and has expanded internationally to the UAE.
PB Fintech Limited operates an online platform for insurance and lending products in India. The company offers Policybazaar, an online platform to buy and sell insurance products, such as health, term, motor, and travel insurance products; savings and investment products; and B2B offerings for consumers and insurance partners. It also provides Paisabazaar, an independent digital lending platform that enables consumers to compare, choose, and apply for personal credit products, including personal, business, and home loans, as well as credit cards and loans against property. In addition, the company offers call center and online healthcare-related services; online marketing, consulting, and support services; and support services in motor vehicle claims and related assistance, as well as engages in the online, offline, and direct marketing of insurance products.
Policybazaar.com has tie-ups with insurance companies that help it procure information such as prices, benefits, insurance cover, etc. directly from the insurers. Users can use the Policybazaar website or app to research, compare and buy insurance policies from over 40 insurance providers. Policybazaar has companies that offer car insurance, health insurance, life insurance, corporate insurance, and travel insurance as its business partners.
The Insurance Regulatory And Development Authority of India regulates the insurance web aggregation business of Policybazaar. The company is registered as an insurance web aggregator under the Insurance Web Aggregator Regulations, 2017.
India secured the third position globally in fintech funding despite a 33% decline in YoY funding, which dropped to Rs. 16,475 crore (US$ 1.9 billion) in 2024, according to Tracxn’s Annual India Fintech Report. This reduction in funding reflects a broader slowdown in demand and ongoing geopolitical challenges. The fintech sector raised Rs. 24,279 crore (US$ 2.8 billion) in 2023 and Rs. 48,558 crore (US$ 5.6 billion) in 2022, underlining a significant decline over the past two years. Despite this, India remains one of the top three globally funded fintech ecosystems, only trailing the US and the UK.
With india moving towards to a cashless economy and everything shifting to digital, there is a massive surge in the fintech industry in India and PB Limited is one of the first company to bring a platform that helps the customer to compare all the insurance policies available in the market and make smart choice. It has 93.4% market share of online insurance sales in India.
Latest Stock News:
PB Fintech, the parent company of Policybazaar and Paisabazaar, has reported a net profit of 71.54 crore in Q3FY25, a sharp turnaround from a net profit of Rs38.05 crore in the same period last year. Revenue from operations grew 48.31% YoY to 1,291.62 crore. PB Partners, the company’s agent aggregator platform, now covers 17,100 pin codes, reaching over 90% of India. The company also reported 2.4x YoY growth in UAE insurance premiums in Q3. Meanwhile, GST officials raided PB Fintech’s Gurugram office on January 13, 2025, focusing on vendors linked to PB Partners. The company stated full cooperation with authorities and confirmed no financial impact from the raid, though further details remain undisclosed.
Potentials:
PB Fintech has strong growth potential, driven by its improving financials, market leadership, and expanding presence in the digital insurance and lending sectors. With a ₹71.54 crore net profit in Q3FY24 and 48.31%YoY revenue growth, the company is on a positive trajectory. Policybazaar dominates the Indian online insurance aggregator space with 93% market share, while Paisabazaar leads in digital lending, giving PB Fintech a significant competitive edge. Additionally, its expansion into the UAE market with 2.4x YoY premium growth signals international growth opportunities. However, the company faces key risks, including regulatory scrutiny, highlighted by the recent GST raid, and increasing competition from fintech startups and traditional financial institutions. Disruptive technologies like AI, blockchain, and DeFi could reshape the industry, requiring PB Fintech to continuously adapt. Furthermore, like P2P lending platforms, the company must balance risk and return in digital lending, with potential stricter consumer protection laws affecting growth. Economic volatility, changing interest rates, and fluctuations in consumer credit demand could also impact performance. To sustain growth, PB Fintech must proactively navigate regulatory challenges, enhance risk management, and diversify revenue streams while staying ahead of technological disruptions. In Q2 FY25, the company introduced PaisaSave, a feature-rich co-branded credit card, and in Q3 FY25, it announced the beta launch of PB Money, a personal finance management tool built on the AA ecosystem.
Analyst InsighAnalyst Insights:
Key Financial Metrics (Q3FY24):
- Revenue: ₹1,292 crore (+49% YoY)
- Net Profit: ₹72 crore (vs. ₹60 crore in Q3FY24)
- Adjusted EBITDA: ₹28 crore (13% margin, improved YoY)
- Market Cap: ₹ 8,473 Cr.crore
- P/E Ratio: 8.7
Investment Outlook & Opinion:
PB Fintech, the company, is almost debt-free, and it has produced good quarter results as per the market expectation. Its market leadership in digital insurance (Policybazaar) and lending (Paisabazaar), along with expansion into the UAE, provides long-term growth potential. But the regulatory risks (such as the recent GST raid) and competition from new-age fintech firms pose challenges. The company’s high valuation (P/B at 11.5x) suggests that much of its growth is already priced in, leaving limited room for upside unless profitability scales further.