PB Fintech Ltd

PB Fintech Ltd announced that Independent Directors Mr. Kaushik Dutta and Ms. Lilian Jessie Paul have completed their first term on June 18, 2026, and will not seek a second term due to professional and personal commitments. Consequently, they have ceased to be directors of the company. Mr. Dutta has also stepped down as Chairperson of the Audit Committee and a Member of the M&A and Investment Committee. Ms. Paul has ceased to be a Member of the Stakeholders’ Relationship Committee and the Corporate Social Responsibility Committee. The company expressed gratitude for their contributions.

The Board of Directors of PB Fintech Limited, in its meeting on May 11, 2026, approved the re-appointment of Mrs. Veena Vikas Mankar and Mr. Nilesh Bhaskar Sathe as Non-Executive and Independent Directors for a second term of five years, subject to shareholder approval via postal ballot. The board also approved the remuneration for Mr. Dhruv Shringi, a Non-Executive and Independent Director, and appointed Ms. Jyotsana Vempati Aggarwal as an Additional Director in the capacity of Non-Executive Independent Director. Furthermore, the board approved an amendment to the PB Fintech Employees Stock Option Plan, 2021, to extend the closing date and reconstituted the Audit Committee following the upcoming expiration of Mr. Kaushik Dutta’s term.

The Board of Directors of PB Fintech Ltd, in its meeting on May 11, 2026, approved the re-appointment of Mrs. Veena Vikas Mankar and Mr. Nilesh Bhaskar Sathe as Non-Executive and Independent Directors for a second term of five years, subject to shareholder approval via postal ballot. The board also approved the remuneration for Mr. Dhruv Shringi, a Non-Executive and Independent Director, and appointed Ms. Jyotsana Vempati Aggarwal as an Additional Director in the capacity of Non-Executive Independent Director. Furthermore, the board approved an amendment to the PB Fintech Employees Stock Option Plan, 2021, to extend the closing date and reconstituted the Audit Committee following the expiration of Mr. Kaushik Dutta’s term.

PB Fintech Ltd reports no deviation or variation in the utilization of IPO proceeds for the quarter ended March 31, 2026, from the objects stated in the Prospectus dated November 08, 2021. The IPO raised a total of ₹5,70,971.50 Lakhs, with ₹3,75,000 Lakhs from fresh issue and ₹1,95,971.50 Lakhs from offer for sale. The audit committee reviewed the statement of deviation on May 06, 2026. Funds were allocated to enhancing brand visibility, expanding growth initiatives, strategic investments, expanding international presence and general corporate purposes.

PB Fintech Ltd has released the Monitoring Agency Report by ICICI Bank Limited for the quarter ended March 31, 2026, as per SEBI regulations. The report confirms no deviation from the objects of the initial public offer. The report, dated May 06, 2026, ensures compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 41 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. ICICI Bank declares no conflict of interest in monitoring the utilization of issue proceeds.

PB Fintech Ltd reported a 42% YoY increase in total insurance premium to ₹29,934 Cr for FY26, driven by a 57% YoY growth in new protection premium. The company's Profit After Tax (PAT) grew by 115% YoY to ₹670 Cr. The Board approved an investment of up to ₹5 Cr into PB Marketing and Consulting Private Limited, a wholly-owned subsidiary. FY26 operating revenue increased by 37% YoY to ₹6,794 Cr. Total lending disbursal for the year stood at ₹30,740 Cr, up 50% YoY.

PB Fintech Ltd's FY26 total insurance premium grew by 42% YoY to ₹29,934 Cr, driven by a 57% YoY increase in new protection premiums. The company's FY26 PAT surged by 115% YoY to ₹670 Cr. Operating revenue for FY26 reached ₹6,794 Cr, a 37% YoY increase. The core renewal/trail revenue on a 12-month rolling basis grew by 40% to ₹935 Cr. Total lending disbursal for the year was ₹30,740 Cr, up 50% YoY.

PB Fintech Ltd's FY26 total insurance premium grew by 42% YoY to ₹29,934 Cr, driven by a 57% YoY increase in new protection premiums. The company's Profit After Tax (PAT) for FY26 surged by 115% YoY to ₹670 Cr. Operating revenue for FY26 reached ₹6,794 Cr, a 37% YoY increase. The board also approved an investment of up to ₹5 Cr in PB Marketing and Consulting Private Limited. Core renewal revenue grew 40% YoY, reaching ₹935 Cr.

PB Fintech Ltd's wholly-owned subsidiary, Paisabazaar Marketing and Consulting Private Limited, has received an order from the Commissioner of Income Tax, Appeal (CIT(A)), Delhi-23. The order, dated April 30, 2026, confirms tax disallowances amounting to ₹85.60 Crores for FY 2022-23 and ₹60.31 Crores for FY 2021-22, made under Section 37 of the Income Tax Act, 1961. Paisabazaar intends to file an appeal against these orders in due course. The CIT(A) also directed the Assessing Officer to verify and allow the set-off of brought forward losses. The company states there is no immediate financial impact as the orders are appealable.

PB Fintech Ltd has announced that its Board of Directors will convene on Wednesday, May 06, 2026. The primary agenda for this meeting is to consider and approve the Audited Standalone and Consolidated Financial Results for the quarter and financial year ended March 31, 2026, along with the auditors' report. In connection with this, the trading window for dealing in the company's securities remains closed for designated persons and their immediate relatives until May 08, 2026. The notice of this meeting is also available on the company's website.