Turtlemint Fintech Solutions Limited (TURTLEMINT)

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Turtlemint Fintech Solutions Limited (TURTLEMINT) · mywealthgrid

About

Turtlemint Fintech Solutions Limited operates in India's financial technology space with a market cap of ₹4,047.61 Cr. The company is currently unprofitable, with ROE of -60.39% and persistent negative operating margins across recent quarters, indicating the business model has not yet achieved sustainability.

Face value: ₹1

Market cap

₹2,055 Cr

P/E

—

P/B

6.7×

Dividend yield

ROE

-60.4%

ROCE

-41.7%

Debt / equity

OPM

-11.9%

EPS (TTM)

₹-6.3

Book value

₹10.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Persistent operating losses: OPM of -156.72%, -11.2%, and -144.62% across recent quarters signals failure to achieve sustainable cost structure; Jun 2026 at -11.2% despite ₹294 Cr revenue.
Negative shareholder returns: ROE of -60.39% indicates capital destruction; verify whether losses reflect pre-profitability scaling or a structural business model problem.
Deteriorating recent trend: Jun 2026 results show substantial losses (OPM -11.2%, net profit -₹37.78 Cr) vs Mar 2026 near-breakeven (OPM -1.1%, net profit +₹3.12 Cr); clarify the cause of this reversal.
Modest promoter holding (13.21%) vs large public shareholding (67%): weaker founder conviction in a loss-making company raises questions about alignment and long-term commitment.

Generated analysis · source review pending

Growth drivers

Demonstrated ability to reach near-breakeven at scale: Mar 2026 achieved -1.1% OPM at ₹357 Cr revenue, proving unit economics can work at sufficient volume.
Revenue base of ₹294–357 Cr in recent periods indicates market presence; verify whether this is growing or capturing new segments.
Fintech sector tailwinds around digital adoption and financial inclusion in India; verify whether Turtlemint is positioned to capture this opportunity.
Zero debt (D/E = 0) provides capital flexibility for growth investment; verify allocation priorities and path to profitability.

Generated analysis · source review pending

65 historical price candles were omitted because the exchange source has not been verified.

₹69.8-12.2%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)

Cons

−Low return on equity of -60.4% (3-yr avg)
−Weak interest coverage of -65.8×
−Low promoter holding of 13.2%

Research score

Structured signal from quality, growth, valuation and momentum.

47/100

Business quality: 20
Valuation: 74

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2026
Revenue	1,098
	1,229
	-130
OPM %	-11.9%
Depreciation	16
Interest	2
	-44
Profit before tax	-193
Tax	-8
Tax %	-4.3%
PAT	-184
PAT margin %	-16.8%
EPS (₹)	-7.1
EPS adjusted (₹)	-26.7

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	0	0	0	7
Reserves	742	562	409	298
Minority interest	2	2	2	—
	—	—	—	0
	157	49	168	145
Total equity & liabilities	900	613	579	450
	34	22	20	34
CWIP	—	—	—	0
Investments	—	—	—	0
	866	591	559	416
Total assets	900	613	579	450

₹ Cr	Mar 2026
	-182
	172
	-13
Net cash flow	-23
Free cash flow	-185
CFO / Operating profit %	—

Return on equity

7 years: —
5 years: —
3 years: —
Last year: -60%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2026
Margins
Gross margin %	—
EBITDA margin %	-11.9%
EBIT margin %	-13.4%
PAT margin %	-16.8%
Working capital
Receivable days	53
Inventory days	0
Payable days	21
NWC days	32
Leverage
Current ratio	2.74
Debt to EBITDA	—
Debt to equity	0
Interest coverage	-65.8
Asset turnover	2.44
Return ratios
Return on assets %	-40.9%
Return on capital employed %	-41.7%
Return on equity %	-60.4%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Mar 2026	Jun 2026
	13.21%	13.21%
	7%	6.34%
	12.59%	13.33%
	0.11%	0.11%
	67.09%	67.01%
No. of shareholders	52,337	52,588

Promoter holding up 0 percentage points since Mar 2026.

Mr. Dhirendra Nalin MahyavanshiExecutive Director-Chairperson related to Promoter-CEO-MD
Mr. Anand Rohidas PrabhudesaiExecutive Director
Mr. Dinanath Mohandas DubhashiNon-Executive - Independent Director
Mr. Alok Chandra MisraNon-Executive - Independent Director
Mr. Anup WadhawanNon-Executive - Independent Director
Ms. Mohua SenguptaNon-Executive - Independent Director
Prashant SainiCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 3 fund houses

Held by these funds

2.86%

of the company's equity

All mutual funds

5.59%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

11 schemes · 3 fund houses

		Shares
SMALL CAP FUND	Bank of India Mutual Fund	22.23 L	32.04	0.97%	0.755%	+8.95 L
Flexi Cap Fund	Bank of India Mutual Fund	20.82 L	30	1.02%	0.707%	+7.53 L
Aggressive Hybrid FundNEW	Bank of India Mutual Fund	15.68 L	22.6	1.1%	0.532%	—
(LIVE SCHEMES)	ITI Mutual Fund	5.31 L	7.66	2.1%	0.18%	-0
(LIVE SCHEMES)	ITI Mutual Fund	3.98 L	5.74	1.48%	0.135%	-95,275
Consumption Fund	Bajaj Finserv Mutual Fund	3.9 L	5.61	0.92%	0.132%	-0
Banking and Financial Services Fund	Bajaj Finserv Mutual Fund	3.25 L	4.68	0.94%	0.11%	-0
Banking & Financial Services Fund	Bank of India Mutual Fund	2.88 L	4.16	1.52%	0.098%	+1.26 L

1–8 of 11

1 / 2

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Clarification on Price Movement of Turtlemint Fintech Solutions Limited28 Sept 2026 · General
The Exchange has sought clarification from Turtlemint Fintech Solutions Ltd on September 28, 2026 with reference to significant movement in price, in order to ensure that investors have ....28 Sept 2026 · Clarification
A copy of Press Release titled " Turtlemint appoints Monica Anshul Mishra as Chief Human Resources Officer" has been enclosed for your reference and dissemination purpose10 Sept 2026 · Press Release / Media Release

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Events

Upcoming dates and the company’s corporate-action history.

2

Board meeting to consider results14 Aug 2026
Board meeting to consider results17 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

36 announcementsExport CSV

28 Sept 2026, 8:13 pmCompany Update

Clarification On Price Movement Of Turtlemint Fintech Solutions Limited

General PDF

28 Sept 2026, 6:48 pmCompany Update

Clarification sought from Turtlemint Fintech Solutions Ltd

Clarification

10 Sept 2026, 3:01 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

9 Sept 2026, 2:30 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

3 Sept 2026, 3:01 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

2 Sept 2026, 11:19 pmAGM/EGM

Dispatch Of Letter To Shareholders Whose E-Mail Addresses Are Not Registered With The Company/RTA/Depository Participants

AGM PDF

2 Sept 2026, 12:40 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

2 Sept 2026, 12:27 pmAGM/EGM

Notice Of 11Th AGM Of The Company

AGM PDF

Date	Category	Subject	Filing
28 Sept 2026, 8:13 pm	Company Update General	Clarification On Price Movement Of Turtlemint Fintech Solutions Limited	PDF
28 Sept 2026, 6:48 pm	Company Update Clarification	Clarification sought from Turtlemint Fintech Solutions Ltd

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Ratio	Mar 2026
Margins
Gross margin %	—
EBITDA margin %	-11.9%
EBIT margin %	-13.4%
PAT margin %	-16.8%
Working capital
Receivable days	53
Inventory days	0
Payable days	21
NWC days	32
Leverage
Current ratio	2.74
Debt to EBITDA	—
Debt to equity	0
Interest coverage	-65.8
Asset turnover	2.44
Return ratios
Return on assets %	-40.9%
Return on capital employed %	-41.7%
Return on equity %	-60.4%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Pb Fintech LimitedPOLICYBZRPOLICYBZR	₹45,345 Cr	₹45,345 Cr	₹7,334 Cr	₹614 Cr	7.5%	₹748 Cr	9.9%	10.3%	9.7%	66
Pine Labs LimitedPINELABSPINELABS	₹19,338 Cr	₹19,621 Cr	₹2,832 Cr	₹409 Cr	13.2%	₹127 Cr	4.2%	4.6%	2.4%	-210
Manipal Payment And Identity Solutions LimitedMPIMANIPALMPIMANIPAL	₹9,304 Cr	₹9,305 Cr	₹1,327 Cr	₹426 Cr	32.1%	₹253 Cr	19.1%	48.9%	46.2%	196
Seshaasai Technologies LimitedSTYLSTYL	₹5,922 Cr	₹5,999 Cr	₹1,507 Cr	₹395 Cr	26.3%	₹264 Cr	16.7%	23.4%	16.8%	122
Avenuesai LimitedCCAVENUECCAVENUE	₹5,330 Cr	₹5,729 Cr	₹9,516 Cr	₹384 Cr	4.4%	₹294 Cr	3.6%	7.5%	6.6%	4
Network People Services Technologies LimitedNPSTNPST	₹3,692 Cr	₹3,698 Cr	₹218 Cr	₹55 Cr	26%	₹51 Cr	21%	20.1%	17.3%	-6,400
Turtlemint Fintech Solutions LimitedTURTLEMINTTURTLEMINT	₹2,055 Cr	₹2,055 Cr	₹1,098 Cr	₹-130 Cr	-11.9%	₹-184 Cr	-16.8%	-41.7%	-60.4%	32
One Mobikwik Systems LimitedMOBIKWIKMOBIKWIK	₹1,544 Cr	₹1,806 Cr	₹1,129 Cr	₹9 Cr	-3.6%	₹-13 Cr	-5.6%	-3.3%	-11%	-7
WSFx Global Pay LtdWSFXWSFX	₹78 Cr	₹85 Cr	₹21 Cr	₹-6 Cr	9.6%	₹-5 Cr	5.7%	20.3%	15.8%	-185
Suvidhaa Infoserve LimitedSUVIDHAASUVIDHAA	₹43 Cr	₹45 Cr	₹5 Cr	₹-7 Cr	-281.4%	₹-8 Cr	-288.6%	-28.2%	-31.3%	960
Ags Transact Technologies LimitedAGSTRAAGSTRA	—	—	₹1,250 Cr	₹57 Cr	13.4%	₹-170 Cr	-5.5%	1.8%	-16.1%	-578

Turtlemint Fintech Solutions Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Return on equity

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

2

Announcements

2

Not in the F&O segment

Announcements

Offer and rights documents

Investor Presentation and earnings call

Return on equity

Turtlemint Fintech Solutions Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Board meetings2

Announcements

Board meetings2

Ratio timeline

Quarterly record

Board and management

Not in the F&O segment

Announcements

Offer and rights documents

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Return on equity

2

2