{
  "id": 2338505,
  "title": "Turtlemint Jumps Nearly 6% After Bullish Ratings From Jefferies",
  "url": "https://urgent.news/2026/08/21/turtlemint-jumps-nearly-6-after-bullish-ratings-from-jefferies",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-21T08:24:29.000Z",
  "source": {
    "name": "Inc42",
    "slug": "inc42",
    "url": "https://inc42.com/buzz/turtlemint-jumps-nearly-6-after-bullish-ratings-from-jefferies/"
  },
  "original_language": "en",
  "account": "Shares of Turtlemint surged as much as 5.7% on the BSE following a bullish 'Buy' rating from Jefferies and a price target of ₹190. The stock later settled 3.3% higher at ₹149.40 apiece. Turtlemint's market cap was reported at ₹4,405.40 Cr ($460 Mn). Jefferies cited the company's expanding Point-of-Sales-Person (PoSP) channel, which accounts for approximately 6% of insurance premiums sold in India, as the reason for the positive rating. The recently listed insurtech firm anticipates a 38% annual revenue growth over the next three years, driven by a 31% rise in premiums and increased take rates. Jefferies forecasts Turtlemint's adjusted EBITDA margin to improve to 10% by FY29, as the company's business scales. Turtlemint's shares have appreciated by about 10.6% over the past five trading sessions, and the stock has risen around 12% since its BSE listing at ₹136.20. The company made a weak debut on the bourses in June, with shares trading at ₹136.90, an 11.25% discount to the IPO price of ₹152. Turtlemint narrowed its Q1 FY27 loss by 19% to ₹37.8 Cr from ₹46.7 Cr in Q1 FY26, as operating revenue rose 40% YoY to ₹294.1 Cr. Including other income of ₹1.6 Cr, total income reached ₹295.7 Cr. Service EBITDA, a metric Turtlemint uses after subtracting direct operational expenses from operating revenue, jumped 89% YoY to ₹39 Cr from ₹21 Cr. Adjusted EBITDA margin improved from -20% in Q1 FY26 to -9%. \"Service EBITDA growth of 89% YoY is a clear signal that our platform economics are strengthening at scale,\" said Turtlemint's COO, Anand Prabhudesai.",
  "summary": "Shares of Turtlemint rose as much as 5.7% to hit an intraday high of ₹152.80 apiece on the BSEafter Jefferies…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}