Turtlemint Fintech Solutions (TURTLEMINT) Q4 24/25 earnings summary

Executive summary

• FY2025 scaled sharply after the insurance-broking acquisition; consolidated revenue was INR 6,627.12 Mn, while the consolidated net loss was INR 1,941.05 Mn.

• The platform reported FY2025 pro forma service EBITDA of INR 832.28 Mn and an 11.89% service EBITDA margin, with premium distributed across 19,105 PIN codes.

Financial highlights

• Consolidated revenue from operations was INR 6,627.12 Mn vs INR 786.42 Mn in FY2024; consolidated net loss was INR 1,941.05 Mn vs INR 1,933.48 Mn.

• Consolidated other income was INR 304.94 Mn vs INR 404.75 Mn; total expenses were INR 8,825.68 Mn vs INR 3,124.65 Mn.

• Standalone revenue was INR 306.66 Mn vs INR 740.56 Mn; net loss narrowed to INR 1,542.02 Mn from INR 1,926.07 Mn.

• FY2025 pro forma revenue from operations was INR 7,002.65 Mn; service EBITDA was INR 832.28 Mn and service EBITDA margin was 11.89%.

• Consolidated cash and cash equivalents were INR 913.70 Mn at Mar. 31, 2025 vs INR 866.92 Mn; operating cash outflow was INR 2,158.08 Mn.

Outlook and guidance

• Plans include growing the Digital Partner network in B30+ markets, broadening insurance and adjacent-product offerings, and investing in technology, data analytics, and AI tools.

• India insurance GDPI is projected to grow 10–12% CAGR from FY2025–FY2030; B30+ insurance demand is projected to grow up to 1.6x faster than T30 markets.

• PoSP premiums are projected to grow 24–32% CAGR during FY2025–FY2030, ahead of the industry's 10–12% growth forecast.