Disclosure under Regulation 30 of the Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations, 2015 - Transcript of the earnings conference call ....
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Veefin Solutions reported Q3 FY26 consolidated revenue of Rs. 104 crores, taking nine-month revenue to Rs. 214 crores, with standalone EBITDA margins at 52% and PAT margins at 27%. Consolidated margins are optically lower (EBITDA 19.95%, PAT 7.75%) due to service entities and product subsidiaries still in build-out phase. The company disclosed a robust deal pipeline of USD 61 million across 50 enterprise opportunities, with 78% coming from non-supply chain finance products like cash management, trade finance, and loan management systems. PSB Xchange has transitioned to a live marketplace with 3 bank integrations live, Rs. 12,000 crores in limit requests, and Rs. 4,000 crores approved across 19 anchor corporates. Management reiterated it is on track to meet H1 guidance and indicated that as new products move into monetization, margin expansion should follow, with target EBITDA margins of 40-50% on steady-state enterprise products.
This is a positive signal for shareholders — first quarterly results show strong revenue traction and the PSB Xchange platform has moved from concept to live operations, validating the business model. Investors should note the heavy investment phase weighs on consolidated margins, but management's guidance points to structural margin expansion as product revenues scale.