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PB Fintech’s Shares Hit Fresh Low Of ₹928.1, Down 48% Since IRDAI’s Proposed Insurance Overhaul

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PB Fintech’s Shares Hit Fresh Low Of ₹928.1, Down 48% Since IRDAI’s Proposed Insurance Overhaul

Shares of insurtech major PB Fintech hit a fresh 52-week low today, plunging about 8% to ₹926 apiece on the BSE. The stock closed the day’s trading session 7.19% lower at ₹928.10 apiece on the BSE.

The company’s stock is down 48% since September 23, since the IRDAI floated its consultation paper to overhaul the insurance distribution industry

Its market capitalisation stood at ₹42,948.08 Cr ($4.53 Bn). PB Fintech commanded a market cap of $9.07 Bn at the end of the first week of September, over twice of its market cap now.

The dip today comes after the company’s quarterly disclosures last Friday. PB Fintech’s consolidated net profit rose 42.5% YoY to ₹192.4 Cr in Q2 FY27, compared with ₹135 Cr in the year-ago quarter. Sequentially, profit increased 18% from ₹163 Cr in Q1 FY27.

Operating revenue grew nearly 35% YoY to ₹2,177.7 Cr, from ₹1,613.6 Cr in Q2 FY26. It rose 15% sequentially from ₹1,888.3 Cr in the June quarter. While total income stood at ₹2,277.6 Cr, total expenses increased 32.6% YoY to ₹2,067.7 Cr.

The company’s core online business, which includes Policybazaar and Paisabazaar, generated ₹1,336 Cr in revenue, up 39.5% YoY. Revenue from new initiatives rose 28% YoY to ₹842 Cr. Adjusted EBITDA increased 39% to ₹216 Cr, while adjusted EBITDA margin remained flat YoY at 10%

Brokerages have given mixed outlooks for the stock post the disclosures. HSBC and Dolat Capital retained their ‘Hold’ and ‘Reduce’ ratings, respectively, while Bernstein maintained its ‘Outperform’ call. 

HSBC kept its target price at ₹1,100 but cut its FY27-29 earnings per share (EPS) estimates by 2-4%, citing higher operating costs and regulatory uncertainty.


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