5447992026-01-012026-03-315447992026-03-315447992025-03-315447992025-04-012026-03-315447992026-01-012026-03-31in-capmkt:OtherExpenses1Member5447992026-01-012026-03-31in-capmkt:OtherExpenses2Member5447992025-04-012026-03-31in-capmkt:OtherExpenses1Member5447992025-04-012026-03-31in-capmkt:OtherExpenses2Member5447992026-03-31OtherNoncurrentFinancialAssetsDomain15447992026-03-31OtherNoncurrentAssetsDomain15447992026-03-31OtherNoncurrentAssetsDomain25447992026-03-31OtherCurrentFinancialAssetsDomain15447992026-03-31OtherCurrentAssetsDomain15447992026-03-31OtherNoncurrentFinancialLiabilitiesDomain15447992026-03-31OtherCurrentFinancialLiabilitiesDomain15447992026-03-31OtherCurrentFinancialLiabilitiesDomain25447992026-03-31OtherCurrentLiabilitiesDomain15447992026-01-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15447992025-04-012026-03-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15447992026-01-012026-03-31AuditorDomain1iso4217:INRiso4217:INRxbrli:shares544799TURTLEMINTNOTLISTEDINE0OC301013Turtlemint Fintech Solutions LimitedMain BoardEquity2025-04-012026-03-312026-07-172026-07-14INRMillionsQuarterlyFourth quarterSingle segmentFinancial Products2026-07-1715:30:002026-07-1716:23:00trueCash Flow IndirectDeclaration of unmodified opinion2026-01-012026-03-31AuditedConsolidated357213000032280000360441000000059332000048900003974000030181500003656100000-51690000-30000-517200000-82950000-82950000031230000000031230000-1200000300300003123000003003000005339000010.120.12000.120.121. Turtlemint Fintech Solutions Limited (the ‘Company’) has prepared consolidated audited financial results (the 'Statement') for the quarter and year ended March 31, 2026 in accordance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended (the ‘Listing Regulations, 2015’) and the Accounting Standards specified under section 133 of the Companies Act, 2013 read with the Companies (‘Indian Accounting Standards’ / ‘IND AS’) Rules, 2015 as amended and the relevant provision of the Companies Act, 2013, as applicable. <br /> 2. The shareholders of the Company approved the conversion of the Company from a private limited company to a public limited company through a special resolution passed at the Extraordinary General Meeting held on May 23, 2025. Consequently, the name of the Company was changed to Turtlemint Fintech Solutions Limited, and a fresh Certificate of Incorporation was issued by the Registrar of Companies on June 05, 2025. <br /> 3. The Consolidated Audited Financial Results of the Company and its subsidiaries (together referred to as ‘Group’), for the quarter and year ended March 31, 2026 have been reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on July 17, 2026 . Refer - Note 15 for list of subsidiaries forming part of Consolidated Audited Financial Results. <br /> 4. These Consolidated Audited Financial Results for the quarter and year ended March 31, 2026 have been subjected to audit by the Statutory Auditors of the Company and the auditors have issued an unmodified audit report. <br /> 5. The figures for the quarter ended March 31, 2026 and quarter ended March 31, 2025 are the balancing figures between the audited figures for the year ended March 31, 2026 and March 31, 2025, respectively and audited figures for the nine months ended December 31, 2025 and nine months ended December 31, 2024, respectively. Audit for the nine months ended December 31, 2025 and nine months ended December 31, 2024 was conducted for the purpose of IPO filing. <br /> Further, the figures for the quarter ended December 31, 2025 are the balancing figures between the audited figures for the nine months period ended December 31, 2025 and six months period ended September 30, 2025. Audit for the six months period ended September 30, 2025 was also conducted for the purpose of IPO filing. <br /> 6. Exceptional items - includes following – IPO Related expenses – 0.03 Mn. for the quarter ended March 31, 2026 and 24.11 Mn. for the year ended march 31, 2026, Financial Instruments related expenses is nil for the quarter ended March 31, 2026 and 525.18 for the year ended March 31, 2026. <br /> <br /> (i) During the year ended March 31, 2026, the Company incurred costs in connection with its Initial Public Offering (“IPO”). In accordance with Ind AS 32 Financial Instruments: Presentation, only those IPO-related costs that are incremental and directly attributable will be adjusted against security premium balance/ recoverable from selling shareholders. Costs that do not meet this criterion, are charged to the Statement of Profit and Loss. Accordingly, IPO-related costs amounting to INR 24.14 million have been recognised as "Exceptional Items" for the year ended March 31, 2026 and INR 0.03 million for the quarter ended March 31, 2026, as these expenses are non-recurring in nature and do not arise from the Company’s ordinary operating activities. Further, certain IPO-related costs amounting to INR 201.83 million, which are directly attributable to the issuance of equity instruments under IPO, have been disclosed in Other Current Assets under "Prepaid Expenses". <br /> (ii) The Board of Directors of the Company at its meeting held on July 12, 2025 and Shareholders of the Company in their extraordinary general meeting held on July 17, 2025, approved a bonus issue of 500 equity shares for every equity share held by the equity shareholders of the Company as of July 12, 2025. Accordingly, the Board of Directors of the Company has, pursuant to the resolution dated July 21, 2025, made an allotment of 52,636,000 bonus equity shares of INR. 1/- each to its equity shareholders utilising securities premium account balance. <br /> Consequent to the bonus issue to the equity shareholders, the Board of Directors at its meeting held on August 12, 2025 and Shareholders of the Company in their extraordinary general meeting held on August 14, 2025, approved to adjust the conversion ratio of Seed Round CCPS, Series A CCPS, Series B CCPS, Series C CCPS, Series C1 CCPS, Series C2 CCPS, Series D CCPS, Series D1 CCPS, Series D2 CCPS and Series E CCPS to give an impact of the bonus issue referred above. Furthermore, the shareholders of the Company entered into the first amendment to the Series E amended and restated shareholders’ agreement ('the agreement') wherein the conversion ratio were agreed to be modified and adjusted downwards to 477:1 on the filling of the Pre-filled Draft Red Herring Prospectus (PDRHP) and further changed pursuant to the Board resolution dated May 28, 2026 approving the draft filing of Updated Draft Red Herring Prospectus-II (UDRHP-II). Consequently, the conversion ratio was revised to 463:1 for Seed Round CCPS, Series A CCPS, Series B CCPS, Series C CCPS, Series D CCPS, Series D1 CCPS, Series D2 CCPS and Series E CCPS, 622.5437:1 for Series C1 CCPS and 511.5499:1 for Series C2 CCPS. The approval of UDRHP-II and the revised conversion ratio resulted in an increase in the shareholding of the existing equity shareholders of the Company. Such increase has been accounted as an expense amounting to INR 525.18 million during the year ended March 31, 2026 and presented under 'Exceptional items' in the statement of consolidated audited financial results for the year ended March 31, 2026. Vide Board resolution dated May 28, 2026, all CCPS holders converted their CCPS into equity shares at the aforesaid agreed conversion ratio. <br /> 7. Earnings per share for the quarters are not annualised. <br /> 8. As a consequence of the transaction described in Note 6(ii), the number of shares used for the calculation of basic and diluted earnings per share, and the earnings per share (including that in the comparative periods), have been adjusted for pursuant to Paragraph 64 of Ind AS 33 - "Earnings Per Share", prescribed under Section 133 of the Companies Act, 2013. <br /> 9. No stock options were granted during the quarter ended March 31, 2026. However, during the year ended March 31, 2026, the Company granted 3,633,174 stock options under the Employee Stock Option Scheme 2025. These options are convertible into an equal number of equity shares of the Company having a face value of INR 1 each and were approved by the Nomination and Remuneration Committee (NRC) for grant to eligible employees of the Company and its subsidiaries. The share-based payment expense recognized for the quarter and year ended March 31, 2026 amounted to INR 67.76 million and INR 249.63 million, respectively. <br /> 10. No stock options were allotted during the quarter ended March 31, 2026. However, during the year ended March 31, 2026, the Company allotted 647,733 Equity Shares to the eligible Employees pursuant to the exercise of options under the approved employee stock option schemes. <br /> 11. The Government of India has notified the Code on Social Security, 2020 (“Social Security Code”); the Occupational Safety, Health and working conditions Code 2020; the Industrial Relations Code 2020 and the Code on Wage, 2019 (collectively, the "Labour Codes”) on November 21, 2025. The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to Labour codes. In accordance with Ind AS 19 – Employee benefits, changes to employee benefit plans arising from legislative amendments are treated as plan amendments, requiring immediate recognition of past service cost in the Statement of Profit and Loss. This approach is consistent with guidance issued by the Institute of Chartered Accountants of India. The implementation of the Labour Codes has not resulted in any material impact in the financial statements for the year ended March 31, 2026 and for the quarter ended March 31, 2026. The Company continues to monitor the finalization of Central and State Rules as well as Government clarifications on other aspects of the Labour Codes and will incorporate appropriate accounting treatment based on these developments as required. <br /> 12. Subsequent to the year ended March 31, 2026 and pursuant to board resolution dated March 26, 2026, the company has entered into an agreement with the "Trifecta Venture Debt Fund - III and Trifecta Venture Debt Fund - IV on March 27, 2026 for an amount up to INR 1,000 million to be received against issuance of 13.75% Non-convertible Debentures (NCDs), interest payable at the end of each month with additional coupon payments at 0.06% on Debenture subscription amount (i.e. amount of funds raised via debentures) at the end of each quarter, wherein initial 8 months will be principal moratorium period. The Debentures will be issued in two tranches, Tranche A of INR 500 million to be received on or before April 10, 2026, and Tranche B up to INR 500 million on or before June 30, 2026. The first tranche of these debenture borrowings will be repayable within 36 months from the debentures issue date and redemption of second tranche will be co-terminus with first tranche. These NCDs creates first charge over all the assets of the company and its subsidiary Turtlemint Mutual Funds Distributors Private Limited, both present and future, and second charge over all the assets of its subsidiary company Turtlemint Insurance Broking Services Private Limited, both present and future. On April 06, 2026, Company has drawn INR 500 million against the Tranche A of these NCDs. <br /> 13. Subsequent to the year ended March 31, 2026, the Company has completed Initial Public Offer ("IPO") of 58,070,398 equity shares of face value of INR 1 each at an issue price of INR 152 per share, comprising of fresh issue of 43,468,552 shares, issued at an offer price of INR 152 per equity share to all the allottees amounting to INR 6,607.22 million and offer for sale of 14,601,846 equity shares by the selling shareholders aggregating to INR 2,219.48 million. Pursuant to the IPO, the equity shares of the Company were listed on the National Stock Exchange ("NSE") and Bombay Stock Exchange ("BSE") on June 29 ,2026. Accordingly, the financial results for the period prior to quarter and year ended March 31, 2026 are drawn up for the first time. The company was not mandatorily required to prepare and publish quarterly results for the quarter ended December 31, 2025 and March 31, 2025 in accordance with the regulations. <br /> 14. The Chief Operating Decision Maker (CODM) monitors the operating results of the Group as a whole for the purpose of making decisions about resource allocation and performance assessment. The Group is engaged in the business of providing insurance broking services, technical support and information and technology services. Thus in context of Ind AS 108 on Segment Reporting, is considered to constitute a single primary segment and there are no separate geographical segment. <br /> 15. Following is the List of Subsidiaries Included in the Consolidated Audited Financial Results: (i) Turtlemint Insurance Broking Services Private Limited (w.e.f May 08, 2024), (ii) Turtlemint Mutual Funds Distributors Private Limited <br /> 16. All amounts disclosed in the consolidated audited financial results have been rounded off to the nearest million, except earnings per share and where otherwise stated. <br /> 17. Figures for the previous year have been regrouped/reclassed wherever necessary, to correspond with the current year's classifications and disclosures. <br /> 18. These consolidated audited financial results are available on the website of BSE Limited ('BSE') (www.bseindia.com), National Stock Exchange of India Limited ('NSE') (www.nseindia.com) and Company's website (www.turtlemint.com).2025-04-012026-03-31AuditedConsolidated1098283000011067000011093500000000242395000020560000161860000986342000012469790000-1376290000-549320000-19256100000-82950000-829500000-18426600000000-1842660000-12800000-1855460000-18426600000-185546000005339000012982410000-7.1-7.100-7.1-7.1Impairment losses on financial instruments-2550000Other expenses3020700000Impairment losses on financial instruments25480000Other expenses983794000022033000000910000002889000000000056430000564300008584000059095000010734400000015879800006820600005683400000222800002860660000056679000034274500004500890000691300002982410000305154000030515400000795700007957000011696000019653000006364000064588000070952000023004000093956000026637000046890000125282000014493500004500890000Other non-current financial assets56430000Income tax assets (net)590110000Other non-current assets840000Other current financial assets22280000Other current assets566790000Lease Liabilities79570000Lease Liabilities105420000Other current financial liabilities124620000Other current liabilities266370000205600000-2190200000-35359000000-15210000055580000067840000016186000025480000145700000-81960000000105920000249630000002235000005231900000365360000-15602500000002618800000-182213000000000000186000025990000000000000000000000142960000016013800001720210000001380000299700000000320000000320000000130810000023200000-27940000-129720000-2316400000-231640000913700000682060000Remeasurements of gains/(losses) of defined benefit plans-4090000-4090000Remeasurements of gains/(losses) of defined benefit plans-15690000-15690000-2890000-2890000-1200000-12800000AuditedtrueS.R. Batliboi & Co. LLPtrue2027-07-31