PB Fintech Ltd

Regulatory update

• IRDAI conducted Oct 21–25, 2024 inspection of Policybazaar Insurance Brokers Private Limited, a PB Fintech subsidiary.
• The authority issued a Letter of Advice with observations requiring board review and corrective actions.
• A Show Cause Notice was issued related to the observations; policybazaar to respond within prescribed timelines.
• Received communication date: August 13, 2026; Annexures A and B attached with details.
• No material monetary impact; PB Fintech states necessary systems and processes are in place to comply.
• Action to be taken: policybazaar will submit response and continue to abide by IRDAI guidelines.
• Disclosure to be hosted on PB Fintech website; Form A details provided in Annexure B.

Meeting Details

• Date: August 17–18, 2026; Time: 9:30 AM IST
• Event: Motilal Oswal 22nd Annual Global Investor Conference
• Mode/Location: Physical meeting in Mumbai

Participants

• Company management to attend (roles not specified)

Purpose

• Purpose: General investor interaction at the conference

Financial performance

• Insurance premium at ₹8,372 Cr, up 41% YoY.
• Consolidated operating revenue ₹1,888 Cr, up 40% YoY.
• Core insurance revenue up 46%; core credit revenue up 25%.
• PAT ₹163 Cr, up 92% YoY; PAT margin 9%.
• Last twelve months PAT around ₹750 Cr ±.
• Core online total premium grew 41% YoY.
• New insurance premium including savings grew 39%; excluding savings 48%.
• Renewal revenue up 55% to ₹1,003 Cr.
• 78% of GWP from Tier 2/3 cities.
• Over 500,000 advisors; active partners 1.13 lakh.
• Covers 99% of PIN codes; over 19,000 PIN codes.
• UAE premium grew 31% YoY.
• Quarterly premium ₹1,637 Cr; revenue ₹561 Cr.
• Employee benefits expense 15% of revenue; top 100 partners 16%.
• 5-year revenue CAGR 51%; PAT margin improved from -47% to 9%.
• CSAT above 90%; ~70,000 health claims settled this quarter.
• Real-time, transparent claims outcomes enabled by technology.

Growth and reach

• Monthly health premium on health products now over 30%.
• 3-month waiting period for maternity product introduced.
• Waiver of Premium expanding beyond children to all goals.
• GIFT City enables non-residents to buy dollar plans.
• Domestic WOP share crossed 60% in July.
• Daily SIP platform to launch in Aug 2026.
• Savings revenue expected to be 5-10% of Paisabazaar revenue in two years.
• Paisabazaar EBITDA break-even; contribution margin 41%.
• Top 100 partners' share to be reduced; diversify partner base.
• PB Health: two hospitals operational; more in pipeline.
• PB Connect revenue ₹12 Cr in Q1; wholesale discontinued.
• Corporate premiums ₹500 Cr; POSP ₹1,600 Cr; Dubai ₹500 Cr.
• PB Money has ~11 Lakh users; bonds platform launching in Aug.

Health and PB Health update

• PB Health Q1 loss ₹7 Cr.
• Target: ₹500 Cr annual run-rate by Mar'27; break-even.
• Two hospitals operational; one started from scratch; more in the pipeline.

Paisabazaar and savings

• Daily SIP platform to launch in August 2026.
• Paisabazaar EBITDA break-even; contribution margin 41%.
• Savings fresh growth 21% YoY; Waiver of Premium expanding.
• GIFT City presence boosts cross-border insurance/savings.
• Savings revenue to be 5-10% of Paisabazaar revenue in two years.
• PB Connect revenue ₹12 Cr in Q1; wholesale discontinued.
• PB Money ~11 Lakh users; bonds platform to be launched.

Q&A and strategic priorities

• COR model ties broker effort to quality; focus on sustainable growth.
• Motor: retail TP 25% of premium; POSP motor ~50%.
• AI: 30-40% of 10 Cr monthly interactions touched by AI; 20-30% automated.
• Dark-pattern concerns rejected; emphasis on transparent data collection.
• Maintain above-market growth; renewals to drive long-term value.
• Regulator changes discussed; enforcement uncertain; no specific guidance.
• Costs as % of revenue improved from 61% to 58%; 5,000 hires in Q1.
• All call-center employee costs booked under employee benefits; wholesale PB Connect closed.

Meeting Details

• Date & time: August 5, 2026 at 06:00 P.M. IST.
• Type/mode: earnings call; virtual group session (Zoom webinar).

Participants

• Chairman & Group CEO
• Executive Vice Chairman
• Joint Group CEO
• CEO, Paisabazaar
• Group CFO
• Head - Investor Relations

Purpose

• Discuss unaudited standalone and consolidated results for Q1 FY 2026-27.

Additional Notes

• Transcript and audio recording will be available on PB Fintech website.
• Pre-registration required via Zoom webinar.

Meeting Details

• Board meeting scheduled for August 5, 2026; time and venue not disclosed.

Key Agenda Items

• Consider unaudited standalone and consolidated financial results for quarter ended June 30, 2026, with limited review.

Other Notes

• Trading window for designated persons and their immediate relatives remains closed till August 7, 2026.

Key disclosures

• Target company PB FINTECH LIMITED; listed on BSE and NSE.
• Acquirer: HDFC Asset Management Company Limited; PACs: HDFC Mutual Fund schemes.
• Acquirer belongs to promoter/promoter group: Yes.
• Exchanges: BSE Limited; National Stock Exchange of India Limited.
• Pre-acquisition diluted voting capital: 2,30,77,520 shares (4.99%).
• Post-acquisition diluted voting capital: 2,32,06,588 shares (5.02%).
• Mode of acquisition: Open Market.
• Date of acquisition: July 14, 2026.
• Equity share capital: Rs 92,53,89,740 comprising 46,26,94,870 shares of Rs 21.
• Salient features: equity shares only; no warrants or encumbrances reported.

Acquirer and holdings

• Target: PB Fintech Limited; listed on BSE and NSE.
• Acquirer: HDFC Mutual Fund and PACs; promoters not involved.
• Pre-acquisition: 0 voting shares; 0% of diluted capital.
• Post-acquisition: 2,30,77,520 voting shares; 4.99% of voting capital; 1,29,068 warrants.
• Total diluted post-acquisition: 2,32,06,588 shares; 5.02% of diluted capital.
• Mode: Open Market; Acquisition date: July 14, 2026.
• Equity share capital before/after: 46,26,94,870 shares; Rs 92,53,89,740.
• Encumbrances: None stated.

Dematerialisation status

• No demat/rematerialisation requests were received during the reporting period.
• The company has no physical shares on record.

Key details

• Target Company is PB Fintech Limited.
• Disclosing Party: MacRitchie Investments Pte. Ltd., not part of promoter group.
• Transaction Type: Disposal of voting rights via Open Market (Block Trade).
• Pre-transaction holding: 2,99,41,996 voting shares (6.47%); 6.31% diluted.
• Transaction Details: Sold 1,13,69,920 voting rights (2.46%/2.40%) via open market.
• Post-Transaction Holding: 1,85,72,076 voting shares (4.01%); 3.91% diluted.
• Date of Transaction: July 03, 2026.
• Capital before/after: 46,26,93,070 shares (INR 92,53,86,140).
• Total diluted capital after: 47,44,40,527 shares (INR 94,88,81,054).