Record Q2 growth, but partner sharing may pressure margins

Management guided margin pressureInvestor Communications View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

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₹64.50

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Nifty Microcap 250market · in no size index; the smallest one is used+0.3%+2.9% vs market

Financial Technology (Fintech) peers, median of 9sector+1.8%+1.4% vs sector

On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 1.4 pts more than its Financial Technology (Fintech) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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+3.1+0.3+2.9+1.8+1.4

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+5.3+2.4+2.8+3.4+1.9

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AI summary

Q2 FY27 turnover rose 41.2% year on year to ₹2,914 crore, revenue rose 30% to ₹44.58 crore, profit before tax rose 9.6% to ₹5.33 crore and profit after tax was ₹4.26 crore. H1 turnover was ₹4,405 crore. A perpetual forex licence enables a wider partner network from Q3 and trade payments up to ₹25 lakh per transaction from Q4. Management says sharing revenue with partners could lower margins and gave no FY27 guidance.

Likely market impact

Strong growth and new trade routes are positive, but revenue sharing with partners may pressure margins, while no FY27 guidance was provided.