Financial Performance Summary

Turtlemint Fintech Solutions Limited announced its unaudited financial results for Q1 FY27 (quarter ended June 30, 2026), showing strong growth across key metrics.

Key Financial Metrics (INR Crore):

| Particulars | Q1 FY26 | Q1 FY27 | YoY Growth |

| Platform Premium | 804 | 1,205 | 49.8% |

| Revenue From Operations | 210 | 294 | 40% |

| Service EBITDA | 21 | 39 | 89% |

Performance Drivers and Metrics

  • Platform Premium reached INR 1,205 crore in Q1 FY27, representing 49.8% year-over-year growth from INR 804 crore in Q1 FY26
  • Revenue from Operations increased to INR 294 crore from INR 210 crore in the same period last year, showing 40% growth
  • Service EBITDA showed significant improvement, growing 89% year-over-year to INR 39 crore from INR 21 crore
  • Service EBITDA Margin Expansion continued as the business scaled
  • Adjusted EBITDA as % of Revenue improved from -20% in Q1 FY26 to -9% in Q1 FY27
  • Corporate Overheads as % of Revenue declined from 30% in Q1 FY26 to 22% in Q1 FY27, demonstrating strong operating leverage
  • Renewal Revenue grew by 66%, indicating strong customer retention on the platform

Operational Highlights

  • The company operates across 19,000+ pincodes in India
  • Maintains a network of 691,000+ digital partners as of the reporting period
  • Through its subsidiary Turtlemint Insurance Brokers, the company has built India's largest certified network of over 550,000+ registered Point of Sale Persons (PoSPs)
  • The platform has facilitated the sale of over 30 million+ insurance policies across health, life, motor, and business insurance
  • Partners with 46 insurance companies

Management Commentary

Dhirendra Mahyavanshi, Chairperson, Managing Director & CEO: "Our momentum has continued to Q1 FY27, with platform premium growing 49.8% and revenue from operations up from 40% year on year. This reflects the continued strength of our distribution ecosystem and the trust our partners and customers place in us. We are pleased with the pace at which our platform continues to scale across 19,000+ pincodes."

Anand Prabhudesai, Executive Director & COO: "Service EBITDA growth of 89% Y-o-Y is a clear signal that our platform economics are strengthening at scale. Technology continues to be the core reason behind the increasing efficiency across every layer of the business, from digital partner onboarding to sales support. The strong performance in Q1 FY27 gives us confidence that we are building a durable and scalable business for the long term."

Terminology Definitions

  • Service EBITDA: Revenue from operations less Customer Acquisition Cost (commission paid), Direct Employee Cost (employee benefit expenses related to sales personnel), and Costs of Direct Operations (certain tech platforms costs pertaining to policy issuance, post-sales support, renewals and claims)
  • Platform Premium: Total premium (net of GST) received on insurance policies issued or re-issued by an insurance company through Turtlemint's platform
  • Adjusted EBITDA: Loss for the period plus total tax expense, finance costs, depreciation & amortisation expense, share based payment expense and exceptional items less other income

Business Overview

Turtlemint Fintech Solutions Limited operates a triadic technology platform that creates a collaborative ecosystem for distributing financial products including insurance, loans, mutual funds, and credit cards through its subsidiaries. The company enables its network of digital partners to deliver comprehensive financial solutions.

Turtlemint Insurance Brokers, founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, is one of India's leading digital insurance advisory and distribution platforms, connecting customers, insurance advisors, and insurers with digital tools and AI-powered recommendations.