On Monday, the midcap stock rose 2 percent to an intraday high of Rs 804.8 from its previous close of Rs 789.35 following the company stake sold by japanese multinational company.
According to the block deal report, Softbank sold 11 crores shares, or 2.5 percent of PB Fintech Limited, through its subsidiary Svf Python Ii Cayman for Rs 800.05 per share in total value of Rs 914 crores on friday.
This is Softbank’s second sale in last two month; in October, the company sold a 2.5 percent stake in PB Fintech for Rs 871 crore.
Looking at the PB Fintech Limited financials, the net revenue increased by 41 percent year over year, from Rs 573 crore in Q2FY23 to Rs 812 crore in Q2FY24. Their revenue rose by 22 percent sequentially from Rs 666 crore in Q1FY24 to the current levels.
In addition, the company has reduced its net loss by 81 percent year over year, from a net loss of Rs 187 crores in Q2FY23 to a net loss of Rs 21 crores in Q2FY24. On a sequential basis, their net loss increased by 75 percent from Rs 12 crore in Q1FY24 to the current levels.
The company has had a zero debt-to-equity ratio for the last five years, as well as a good current ratio and a quick ratio of 7 percent. However, the net profit, return on equity, return on capital employed, and net profit margin remain negative.
PB Fintech Ltd is a mid-cap company with a market capitalization of Rs 36,071 crores. The share price has risen by 21 percent in the last six months and 76 percent in the year to date.
The general public owns 34.3 percent of the company, foreign institutional investors own 44 percent, and domestic institutional investors own 21.7 percent.
PB Fintech Ltd, also known as Policy Bazar, is India’s largest online platform for insurance and lending products, with its flagship brands Policybazaar and Paisabazaar providing easy access to insurance, credit, and other financial products.
Written by Sriram KV
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