02-Nov-2026 07:56:09

BERNSTEIN ON PB FINTECH ; OUTPERFORM | TP ₹1,085

• Bernstein maintains Outperform rating on PB Fintech with a target price of ₹1,085. • Q2 consolidated premiums grow 38% YoY, while core credit disbursements rise 22%. • Contribution margin remains around 29%, while adjusted EBITDA margin stands near 10% amid higher marketing expenses. • Management outlines a 1,000-day plan focused on cost discipline and expanding non-insurance revenue. • Company is also exploring the possibility of obtaining an insurance licence.

PB FINTECH LIMITED

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