Transcript of the earnings call held on July 17, 2026

AI summary - FY26 platform premium grew 31% to INR 3,868 Cr; revenue up 57% to INR 1,098 Cr; service EBITDA up 70% to INR 142 Cr - Q4 revenue grew 42% to INR 357 Cr; service EBITDA grew 60% to INR 60 Cr; first breakeven quarter at adjusted EBITDA - Active digital partners grew to 93,000; top 100 partners contribute less than 5% of premium - Renewal revenue grew 51% to INR 225 Cr, constituting 20% of FY26 revenues - FY27 outlook: expect continued growth, profitability improvement over 40%, adjusted EBITDA margin to expand to 18-20% - AI initiatives improving agent productivity and customer engagement; 5 million+ app downloads - Enterprise Turtlefin business contributes ~20% of premium, high-margin tech licensing model - Operating leverage strong; corporate overheads reduced to 23% of revenues in FY26, 16% in Q4 - Claims support includes expert desk with in-house doctors and ex-surveyors; settled INR 85 Cr+ claims in Q4 - Renewal service EBITDA margin 2.5-3x higher than new business; renewal book quality and persistency emphasized - Low insurer concentration; top 3 insurers ~22% of business; 76% premium from beyond top 30 cities