MarketFriction

PB Fintech Ltd

NSE POLICYBZR · BSE 543390 · Financial Technology (Fintech)
₹980.00 -7.89%
NSE close2026-10-01
52 week range1,031.40 - 1,964.20
Market cap₹50,024 Cr.
P/E66.8
IPO 2021 · +0% since Nifty 200Nifty 500Nifty Midcap 50Nifty Midcap 100Midcap 150Nifty Midcap Select ASM short-term No price band Delivery 42.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales8128711,0901,0101,1671,2921,5081,3481,6141,7712,0611,888
Expenses9018981,0851,0501,1751,2641,3961,3141,5161,6121,8491,751
Operating Profit-89-275-39-8281123498159212137
OPM %-11%-3.1%0.5%-3.9%-0.7%2.1%7%2.5%6%9%10%7%
Other Income979498141106100101100878510493
Interest76769999991011
Depreciation222324252934333334343540
Profit before tax-21377371608517192142201272179
Tax %-1%0%17%15%15%16%0%8%5%6%4%9%
Net Profit-21376060517217085135189261163
EPS in Rs-0.450.841.341.321.111.563.701.842.944.095.643.52
Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales78903344927718871,4252,5583,4384,9776,7947,334
Expenses1492323868281,0911,0462,3253,2193,6264,8846,2866,729
Operating Profit-72-142-52-336-320-160-901-662-18893508606
OPM %-92%-157%-16%-68%-41%-18%-63%-26%-5%1.9%7%8%
Other Income103526378471124259381449372370
Interest00081212142227343839
Depreciation237304741436489121136143
Profit before tax-64-110-34-337-295-142-833-48877387707794
Tax %0%0%76%3%3%6%-0%-0%16%9%5%
Net Profit-64-110-59-347-304-150-833-48864352670748
EPS in Rs-17,719.44-30,600.00-16,396.12-91,265.79-80,007.89-6,583.70-18.53-10.821.487.6714.4816.19
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth54%50%38%38%
Compounded Profit Growth22%42%50%99%
Stock Price CAGR%%12%-36%
Return on Equity%-1%6%10%
Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.040.040.040.040.040.059090909293
Reserves973017874891,2651,9905,3225,3865,7816,3417,219
Borrowings01190110110159227253322360
Other Liabilities2943921722022303445516047761,035
Total Liabilities1263458807511,5762,3315,9156,2546,7297,5318,707
Fixed Assets4611119147125205313359418441
CWIP00000000000
Investments1923765012521383736221,3582,1733,211
Other Assets1031022195071,4272,0685,3385,3195,0114,9405,054
Total Assets1263458807511,5762,3315,9156,2546,7297,5318,707
Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-102-97-83-282-36429-1,568-2999-18341
Cash from Investing Activity-15-244-43437579-1,202-2,12546301492225
Cash from Financing Activity119315513-231,0317593,621-42-57-73-81
Net Cash Flow2-27-569746-415-71-295253236186
Free Cash Flow-121-305-97-317-39624-1,599-363-55-280-36
CFO/OP143%68%107%73%102%12%171%38%-110%-71%15%
Mar 2015Mar 2016Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1201561059785719297677393
Inventory Days
Days Payable
Cash Conversion Cycle1201561059785719297677393
Working Capital Days579329-120-1230932132312268
ROCE %-63%-53%-36%-9%-21%-8%2%6%10%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
FIIs49.40%46.00%48.97%51.58%49.70%47.78%45.93%46.78%43.64%40.77%39.94%37.29%
DIIs16.31%18.97%16.64%16.17%18.31%20.57%22.95%23.27%26.63%29.54%36.72%40.42%
Public33.46%34.28%33.81%31.69%31.44%31.35%30.85%29.65%29.47%29.55%23.19%22.14%
Others0.83%0.76%0.59%0.55%0.54%0.28%0.28%0.28%0.27%0.14%0.14%0.14%
No. of Shareholders1,80,7651,65,9331,52,1531,45,3831,52,9481,48,2751,51,2051,64,5511,65,6001,59,2431,53,2611,50,458

Fundamentals

Market Cap₹ 50,024 Cr.
Current Price₹ 1,081
Stock P/E66.8
Book Value₹ 158
ROCE10.3 %
ROE9.75 %
Dividend Yield0.00 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)38%
Compounded Profit Growth (TTM)99%
Consolidated figures.
Valuation
Market capRs 45,344 Cr
Enterprise valueRs 44,944 Cr
P/E (TTM)60.60x
Price to book6.20x
Price to sales6.18x
EV / EBITDA46.06x
EV / EBIT53.95x
EV / sales6.13x
Price to cash flow1092.89x
Earnings yield1.65%
P/E, 3-year average354.44x
P/B, 3-year average9.68x
P/E, 5-year average354.44x
P/B, 5-year average8.01x
Profitability
Operating margin (excl. other income)7.48%
Operating margin (incl. other income)12.97%
EBITDA margin13.30%
Pre-tax margin10.82%
Net profit margin10.20%
Net margin, latest quarter8.63%
ROE9.75%
ROCE10.33%
ROA8.25%
ROE, 3-year average5.55%
ROCE, 3-year average6.21%
ROA, 3-year average4.74%
ROE, 5-year average-2.96%
ROCE, 5-year average-2.21%
ROA, 5-year average-2.80%
ROIC (approx.)11.42%
Tax rate5.26%
Other income / net worth5.09%
Growth
Sales growth (latest year)36.50%
Profit growth (latest year)90.29%
Sales CAGR, 3 years38.49%
Sales CAGR, 5 years50.27%
Sales growth QoQ-8.40%
Profit growth QoQ-37.62%
Sales growth YoY (latest quarter)40.08%
Profit growth YoY (latest quarter)92.54%
Per share
EPS (TTM)Rs 16.17
EPS (latest year)Rs 14.48
EPS (latest quarter)Rs 3.52
EPS, 3-year averageRs 7.88
EPS, 5-year averageRs -1.14
Book value per shareRs 158.03
Sales per shareRs 158.51
Cash flow per shareRs 0.90
Free cash flow per shareRs -0.78
Efficiency
Asset turnover0.78x
Fixed asset turnover15.40x
Debtor days93 days
Debtors turnover3.93x
Cash conversion cycle93 days
Working capital days68 days
Leverage
Total debtRs 360 Cr
Cash and bankRs 760 Cr
Net debtRs -400 Cr
Debt to equity0.05x
Net debt / EBITDA-0.41x
Interest coverage21.12x
Current ratio (filing 2026-03-31)4.41x
Quick ratio (filing 2026-03-31)4.41x
Trade payables (filing 2026-03-31)Rs 471 Cr
Owners' fund to total sources83.98%
Debt to assets4.14%
Cash flow
Cash from Operating Activity (latest year)Rs 41 Cr
Cash from Investing Activity (latest year)Rs 225 Cr
Cash from Financing Activity (latest year)Rs -81 Cr
Net Cash Flow (latest year)Rs 186 Cr
Free cash flow (latest year)Rs -36 Cr
FCFE (approx.: FCF + change in debt)Rs 2 Cr
Sales to cash flow163.75x
Statement figures
Net sales (TTM)Rs 7,334 Cr
Net sales (latest year)Rs 6,794 Cr
Sales (latest quarter)Rs 1,888 Cr
Operating profit excl. other income (latest year)Rs 508 Cr
Operating profit (latest quarter)Rs 137 Cr
Other income (TTM)Rs 370 Cr
EBITDA (TTM)Rs 976 Cr
PBDT (TTM)Rs 936 Cr
Profit before tax (TTM)Rs 794 Cr
Tax (latest year)Rs 37 Cr
Net profit (TTM)Rs 748 Cr
Net profit (latest year)Rs 670 Cr
Net profit (latest quarter)Rs 163 Cr
Depreciation (TTM)Rs 143 Cr
Depreciation (latest quarter)Rs 40 Cr
Interest (TTM)Rs 39 Cr
Cost of goods sold (latest year)Rs 53 Cr
Total expenditure (latest year)Rs 6,286 Cr
Total income (latest year)Rs 7,166 Cr
Share capitalRs 93 Cr
ReservesRs 7,219 Cr
Shareholders' fundsRs 7,312 Cr
Total assetsRs 8,707 Cr
Net blockRs 441 Cr
InvestmentsRs 3,211 Cr
ReceivablesRs 1,729 Cr
Other liabilitiesRs 1,035 Cr
Shares outstanding (crore)46.27
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 6.20 is at the 25th percentile (median 10.94).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPOLICYBZRNifty 50Difference
1 week-18.8%-2.8% -16.0 pts
1 month-46.4%-6.8% -39.6 pts
3 months-38.4%-7.6% -30.8 pts
6 months-31.4%+0.4% -31.8 pts
1 year-44.0%-9.9% -34.1 pts
2 years-49.0%-13.6% -35.4 pts
3 years+28.1%+14.2% +13.9 pts
322 mutual fund schemes hold about ₹29,829 Cr. Over three months 307 bought more and 12 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Mid Cap Fund1.69%1,835 +80%
HDFC Flexi Cap Fund1.52%1,722 +97%
Mirae Asset Large & Midcap Fund2.67%1,224 +99%
Motilal Oswal Midcap Fund2.85%1,221 +97%
Mirae Asset ELSS Tax Saver Fund3.27%863 +108%
Axis Midcap Fund2.32%799 +156%
HSBC Midcap Fund3.87%665 +67%
Axis ELSS-Tax Saver Fund1.99%651 +128%
Mirae Asset Midcap Fund3.02%632 +75%
ICICI Pru Balanced Advantage Fund(M0.80%605 +158%
Canara Rob Large and Mid Cap Fund2.10%554 +79%
ICICI Pru Large & Mid Cap Fund1.50%503 +10041%
Nippon India Multi Cap Fund0.89%499 +96%
Nippon India Large Cap Fund0.92%498 +65%
Axis Focused Fund4.18%478 +86%
Franklin India Focused Equity Fund3.95%455 +87%
Tata Digital India Fund4.24%433 +73%
ICICI Pru Multi Cap Fund2.20%430 +74%
ICICI Pru Multi Cap Fund2.20%413 +74%
UTI Mid Cap Fund3.08%394 +95%
ICICI Pru Flexi Cap Fund1.46%379 +198%
DSP Midcap Fund1.67%352 +79%
Axis Small Cap Fund1.06%333 +75%
Franklin India Mid Cap Fund2.40%313 +184%
Axis Flexi Cap Fund2.17%302 +83%

Red flags

F-score 7 of 8
explainWeak cash conversion Cash from operations was -12% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 73% vs sales +37% in 2026
lookProfit leans on other income Other income was 53% of pre-tax profit in 2026
lookOn NSE surveillance On NSE surveillance: ASM short-term
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2022-05-12Etechaces Employees Stock Option Otherother5,521,601Rs 1.10 CrESOP
2022-04-04Etechaces Employees Stock Option Otherother25,000Rs 0.01 CrESOP
2022-02-16Etechaces Employees Stock Option Otherother4,567,500Rs 0.91 CrESOP
2022-02-10Etechaces Employees Stock Option Otherother5,000,000Rs 1.00 CrESOP
2021-12-14Etechaces Employees Stock Option Otherother333,500Rs 0.07 CrESOP
2021-12-10Etechaces Employees Stock Option Otherother2,238,000Rs 0.45 CrESOP
2021-11-23Sajja Parveen Chowdary-sell1,000Rs 0.12 CrMarket Sale
2021-11-18Ankit Mittal-sell5,000Rs 0.67 CrMarket Sale
2021-11-18Raghuveer Malik-sell5,000Rs 0.65 CrMarket Sale
2021-11-17Ankit Mittal-sell17,000Rs 2.40 CrMarket Sale
2021-11-17Rahul Sharma-sell3,000Rs 0.43 CrMarket Sale
2021-11-17Sandeep Kumar Jorasia-sell3,000Rs 0.43 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,888 Cr +40.1% vs Jun 2025. Net profit ₹163 Cr +91.8%.

Activity

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No bulk or block deals on record.
No corporate actions on record.
DateTypeWhat it says
2026-09-30General UpdatesDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015.
2026-09-30Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-27Price movementSignificant movement in price has been observed in PB Fintech Limited. The Exchange, in order to ensure that investors have latest relevant informatio...
2026-09-25Price movementSignificant movement in price has been observed in PB Fintech Limited. The Exchange, in order to ensure that investors have latest relevant informatio...
2026-09-25Concall / analyst meetTranscript of the Analyst & Investor Call held on September 24, 2026.
2026-09-24Concall / analyst meetSchedule of analyst meet
2026-09-17Rumour Verification - RegulaClarification on market Rumour under Regulation 30(11) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
2026-09-16General UpdatesDisclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015.
2026-09-16Concall / analyst meetSchedule of meet
2026-09-16Concall / analyst meetSchedule of meet
2026-09-09ESOPAllotment of 57885 Equity Shares of face value of Rs. 2/- each to eligible employees upon exercise of vested options under PB Fintech Employees Stoc...
2026-09-09Concall / analyst meetSchedule of meet
2026-09-09Concall / analyst meetSchedule of meet
2026-09-05General UpdatesDispatch of physical communication to shareholders for Notice and Annual Report for FY 2025-26
2026-09-05Shareholder meetingNotice of Annual General Meeting to be held on September 28, 2026
2026-09-02Concall / analyst meetSchedule of meet
2026-08-14General UpdatesDisclosure under Regulation 30 of the SEBI (Listing obligations and Disclosure Requirements), Regulations, 2015
2026-08-12Concall / analyst meetSchedule of meet
2026-08-11Concall / analyst meetTranscript of Earnings Call
2026-08-05Concall / analyst meetLink of audio recording of earnings conference call conducted on August 05, 2026
2026-08-05Board meeting outcomeOutcome of Board Meeting held on August 05, 2026 regarding Reconstitution of the Corporate Social Responsibility Committee and Stakeholders Relationsh...
2026-08-05Board meeting outcomePB Fintech Limited has submitted to the Exchange, Outcome of the Board Meeting held on August 05, 2026 and the financial results for the period ended ...
2026-07-31Concall / analyst meetSchedule of earnings conference call for shareholders, investors and analyst on Wednesday, August 05, 2026, at 06:00 P.M. (IST)
2026-07-02General UpdatesDisclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.43
Max pain (expiry 2026-10-27)1,100
Largest call open interest at1,200
Largest put open interest at1,000
Implied volatility, at the money53.2%
Underlying at snapshot980.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-30446
2026-09-2917,482
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)Short Term Additional Surveillance Measure (Short Term ASM): stage 1
Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.Updated 2026-10-03