Turtlemint Fintech Solutions
TURTLEMINT NSE
Turtlemint Fintech Solutions
Financial ServicesNSE: TURTLEMINT BSE: 544799 Financial Technology (Fintech)
Key Fundamentals
MicrocapMarket Cap
₹3,855 Cr
Volatility
Moderate
P/E Ratio
-22.2
EBITDA
₹-185 Cr
Return on Equity
-47.29%
Debt to Equity
0.06
Book Value
₹33.47
52W High
₹160
52W Low
₹110.41
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
4- Company has reduced debt.
- Company is almost debt free.
- Debtor days have improved from 105 to 52.8 days.
- Company's working capital requirements have reduced from 427 days to 30.7 days
Weaknesses
3- Company has low interest coverage ratio.
- Promoter holding is low: 13.2%
- Company has a low return on equity of -34.5% over last 3 years.
Growth Rate
Revenue Growth
58.44% higher than
3Y
Net Income Growth
-0.79% lower than
3Y
Cash Flow Change
10.7% lower than
3Y
ROE
37.91% higher than
3Y
ROCE
30.05% higher than
3Y
EBITDA Margin (Avg.)
-26.61% higher than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoAI opinion · based on fundamentals
Risk high
Turtlemint Fintech Solutions Ltd is a loss-making insurtech platform with a market cap of approximately ₹4,014 Cr, trading at a negative PE of -21x. The company reported explosive TTM sales growth of 743% (FY25 revenue of ₹662.71 Cr vs ₹78.64 Cr in FY24) but continues to post net losses of ₹194.11 Cr in FY25, with a 3-year average ROE of -43%.
Bull Case 8
- TTM revenue growth of 743% indicates massive top-line acceleration, with FY25 sales at ₹662.71 Cr vs ₹78.64 Cr in FY24
- Company is almost debt-free, providing financial flexibility and low insolvency risk in a capital-intensive fintech space
- Working capital days improved dramatically from 573 days to 95.4 days, signalling significantly better operational efficiency
- Debtor days improved from 117 to 88.3 days, indicating faster collections and healthier receivables management
- 3-year compounded sales CAGR of 31% shows sustained revenue momentum beyond just one exceptional year
- Operating loss margin improved from -178% in FY24 to -27% in FY25, showing meaningful progress toward breakeven on an operating basis
- Net loss narrowed from ₹288.18 Cr in FY23 to ₹194.11 Cr in FY25, a 33% reduction in absolute losses over two years
- Large addressable market in Indian digital insurance distribution with current market cap of ₹4,014 Cr implying high growth expectations already priced in but also reflecting platform potential
Bear Case 8
- Company remains deeply unprofitable with FY25 net loss of ₹194.11 Cr and negative EPS of ₹-18,623 per share
- 3-year average ROE of -43% indicates sustained destruction of shareholder equity
- Promoter holding is low at 13.2%, raising concerns about alignment of interest and potential governance risks
- Reserves declined from ₹741.87 Cr in FY23 to ₹408.88 Cr in FY25, eroding the equity base by 45% in two years due to accumulated losses
- Low interest coverage ratio suggests limited ability to service even minimal debt obligations from operating cash flows
- No dividend has ever been paid (0% yield), with no visibility on when profitability could enable shareholder returns
- 3-year compounded profit CAGR of -5% shows no improvement trajectory in bottom-line performance on a multi-year basis
- FY25 operating expenses of ₹851.08 Cr significantly exceed revenue of ₹662.71 Cr, indicating the business model has not yet achieved unit economics at scale
This is AI-generated analysis, not financial advice. Do your own due diligence.
Quarterly Results
| Particulars | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Sales | 252 | 210 | 278 | 357 | 294 |
| Expenses | 289 | 256 | 316 | 361 | 327 |
| Operating Profit | -37 | -46 | -39 | -4 | -33 |
| OPM % | -15% | -22% | -14% | -1.1% | -11% |
| Other Income | 5 | 4 | -19 | 3 | 2 |
| Interest | 0 | 1 | 0 | 0 | 2 |
| Depreciation | 7 | 4 | 4 | 4 | 4 |
| PBT | -40 | -47 | -62 | -5 | -38 |
| Tax % | 0% | 0% | 0% | -161% | 0% |
| Net Profit | -39 | -47 | -62 | 3 | -38 |
| EPS in Rs | -3,785 | -4,434 | -11.66 | 0.59 | -1.28 |
Profit & Loss
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales | 294 | 420 | 79 | 663 | 1,098 |
| Expenses | 465 | 734 | 290 | 850 | 1,229 |
| Operating Profit | -171 | -314 | -211 | -188 | -130 |
| OPM % | -58% | -75% | -269% | -28% | -12% |
| Other Income | 11 | 40 | 40 | 30 | -44 |
| Interest | 2 | 2 | 2 | 2 | 2 |
| Depreciation | 5 | 12 | 20 | 29 | 16 |
| PBT | -168 | -288 | -193 | -189 | -193 |
| Tax % | 0% | 0% | 0% | 2% | -4% |
| Net Profit | -168 | -288 | -193 | -194 | -184 |
| EPS in Rs | -16,286 | -27,603 | -18,467 | -18,629 | -34.51 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 0.01 | 5 |
| Reserves | 106 | 742 | 562 | 409 | 300 |
| Borrowings | 19 | 28 | 21 | 28 | 18 |
| Other Liabilities | 74 | 131 | 30 | 142 | 126 |
| Total Liabilities | 199 | 900 | 613 | 579 | 450 |
| Fixed Assets | 18 | 57 | 38 | 44 | 34 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 181 | 843 | 575 | 535 | 416 |
| Total Assets | 199 | 900 | 613 | 579 | 450 |
Cash Flow
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating | -186 | -286 | -242 | -216 | -182 |
| Investing | 196 | -579 | 248 | 235 | 172 |
| Financing | -13 | 903 | -10 | -15 | -13 |
| Net Cash Flow | -3 | 37 | -4 | 5 | -23 |
| Free Cash Flow | -192 | -298 | -243 | -218 | -185 |
| CFO/OP | 108 | 91 | 111 | 132 | 120 |
Ratios
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Debtor Days | 95 | 91 | 173 | 88 | 53 |
| Cash Conversion Cycle | 95 | 91 | 173 | 88 | 53 |
| Working Capital Days | 9 | 467 | 1,156 | 95 | 31 |
| ROCE % | — | -64% | -28% | -37% | -36% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Turtlemint Fintech Solutions insights
35 extracted metrics + investor summaries across FY22–FY26.
Documents
Frequently Asked Questions about Turtlemint Fintech Solutions
What does Turtlemint Fintech Solutions Ltd do?
Incorporated in 2015, Turtlemint Limited is
a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers.[1]
Where is Turtlemint Fintech Solutions Ltd (TURTLEMINT) listed?
Turtlemint Fintech Solutions Ltd trades as TURTLEMINT on the NSE and under code 544799 on the BSE.
Which sector does Turtlemint Fintech Solutions Ltd belong to?
Turtlemint Fintech Solutions Ltd is classified under the Financial Services sector, in the Financial Technology (Fintech) industry.
What is the market capitalisation of Turtlemint Fintech Solutions Ltd?
Turtlemint Fintech Solutions Ltd has a market capitalisation of ₹3,855 Cr, which places it in the Small Cap band.
What is the PE ratio of Turtlemint Fintech Solutions Ltd?
Turtlemint Fintech Solutions Ltd trades at a PE ratio of -22.20, against a book value of ₹33.47 per share.
What is the 52-week high and low of Turtlemint Fintech Solutions Ltd?
Over the last 52 weeks Turtlemint Fintech Solutions Ltd has traded between ₹110.41 and ₹160.
What is the Return on Equity (ROE) of Turtlemint Fintech Solutions Ltd?
Turtlemint Fintech Solutions Ltd reported a return on equity of -47.29%. Its debt-to-equity ratio is 0.06.
Company Information
Incorporated in 2015, Turtlemint Limited is a technology-enabled insurance distribution platform that connects customers, insurance advisors (Digital Partners), and insurers.[1]
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