Fino Payments Bank Limited has informed the Exchange about Transcript
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Fino Payments Bank reported FY25 revenue of INR 1,847 crores, up 25% YoY, meeting its revised upward guidance. EBITDA grew 22% to INR 234 crores and PBT rose 26% to INR 108 crores, with PAT at INR 92.5 crores (now a tax-paying entity, effective tax rate ~25%). Customer base reached an all-time high of 1.43 crore with 53 lakh digitally active users; average deposits grew 37% to INR 1,849 crores. Digital revenue grew 4.2x to INR 390 crores (21% of revenue), and UPI market share rose from 1.27% to 1.62%. Management confirmed the SFB transition application is under RBI review, with incremental capex of INR 90-100 crores expected. Loan referral disbursements scaled 6x to INR 200 crores in Q4 FY25. CMS business faces MFI-sector headwinds and further take rate moderation, while remittance has been hit ~40% by regulatory changes.
Strong FY25 results in line with guidance and improving PBT margins (2.6% in FY21 to 5.9% in FY25) are positive, but near-term growth in CMS and remittance is under pressure. Management declined to provide formal FY26 guidance, and capex will stay elevated (~INR 100 crores+) for tech and SFB readiness, which may temper near-term margin expansion.