India's PB Fintech slips; Motilal Oswal initiates coverage with 'neutral'

PB Fintech

18/11/2025 06:12

** Shares of PB Fintech PBFI.NS fall ~1% to 1,795.80 rupees

** Motilal Oswal initiates coverage with a "Neutral" rating and Street-high PT of 2,000 rupees - data compiled by LSEG

** Adds, potential commission restructuring by insurers following the loss of input tax credit after granting of GST exemption could pose key risk to revenue growth

** But notes that PB Fintech is well-positioned for long-term margin expansion: expects EBITDA margin to reach ~13% in FY28 from 2% currently.

** Says co is a dominant player in the digital marketplace for both insurance and consumer credit via Policy Bazaar and Paisa Bazaar respectively

   ** Secured credit and PB Health are helping co to transition from a marketplace to a multi-vertical platform, Motilal says

** YTD, PBFI down ~15%

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))