The shares of India’s largest online insurance platform jumped marginally in the day’s trade after it declared making further investment of Rs. 350 Crores into its subsidiary.
At 10:45 a.m. the shares of PB Fintech Limited were trading at Rs. 825.15, up 0.22 percent from its previous day’s close price of Rs. 823.35 and its market capitalization is Rs. 37,080 Crores.
As per the company’s filing on BSE, PB Fintech Limited has made further investments of Rs. 350 Crores into Policybazaar Insurance Brokers Private Limited, which is a wholly-owned subsidiary of the company. PB Fintech holds a 100 percent stake in Policybazaar.
The company’s revenue has increased by 79.51 percent from Rs. 1,424.89 Crores in FY22 to Rs. 2,557.85 Crores in FY23, accompanied by decreasing losses of Rs. 832.91 Crores to Rs. 487.94 Crores, even though the company is making good revenue it is not able to generate profits due to very high operating expenditure that exceeds it’s generated revenue.
The company has reported a return on equity (ROE) of -10.15 percent and a return on capital employed (ROCE) of -8.57 percent, the company has negative profitability ratios as it has not been able to generate profits from the last five years.
According to the latest shareholding data available for the September 2023 quarter, the company’s Promoters hold a 0.00 percent stake, the Domestic Institutional Investors hold 21.74 percent and the Foreign Institutional Investors (FII) hold 43.97 percent.
PB Fintech Limited, popularly known as Policy Bazar is India’s largest online platform for insurance and lending products through its flagship brands – Policybazaar and Paisabazaar the platform through which they provide convenient access to insurance, credit, and other financial products.
Written by: Bharath K.S
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