NSE: GYFTR · BSE: 507912
GYFTR LIMITED
Operates a digital gifting, rewards management and voucher platform, having pivoted from its earlier NBFC business. The company surrendered its NBFC registration in March 2026, deleted NBFC-related clauses from its Memorandum of Association, and updated its objects to cover digital and physical gifting, gift cards and vouchers, loyalty programmes, e-commerce solutions, software and APIs for digital rewards, and operating as a Payment Aggregator. Revenue for FY26 stood at Rs 396.36 crore with a profit after tax of Rs 21.81 crore. Earnings are generated by providing B2C, employee rewards and recognition, channel incentive, corporate gifting and retailer/employee rewards programmes to corporate clients. As of the Q4 FY26 update, the company had 40 active partnerships executed and 27 in the pipeline, taking the cumulative partner count to 67, with named partners including Carl Zeiss India, Century Plyboards India, Bajaj Finserv Health, Bandhan Bank, MMTC Pamp India and Air India SATS. Operating costs are light on materials and headcount, with other operating expenses at 4.5% of revenue and employee cost at 0.4%, consistent with a platform-style business model. The equity shares commenced trading on NSE under the symbol GYFTR from July 10, 2026 and continue to trade on BSE. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. B2C gifting and voucher programmes, Employee Rewards & Recognition (RNR), Channel incentive programmes, Corporate gifting, Retailer and employee rewards, Payment Aggregator services. Recently pivoted from a wound-down NBFC to a digital gifting, vouchers and rewards platform; asset-light operating model with depreciation at 1.6% of revenue.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 61 | 28 | 90 | 14 | 396 |
| EBITDA (ex other income) | 45 | 19 | 78 | 5 | (13) |
| margin % | 73.1 | 69.3 | 86.7 | 37.3 | (3.2) |
| Owners' profit | 0 | 11 | 59 | 2 | 22 |
| EPS, as reported (₹) | 29.29 | 11.04 | 47.30 | 1.45 | 3.16 |
| ROE % · ROCE % | 12.7 · — | 4.7 · — | 16.7 · — | 0.5 · — | 4.5 · 5.3 |
| Debt / equity (x) | — | — | — | — | 0.00 |
| Cash from operations | (14) | (13) | 51 | (107) | 12 |
| Capex | (0) | (0) | (0) | (0) | (34) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 23 | 21 | 19 | (13) | (13) | 90 | 300 | 155 |
| Profit before tax | 12 | 19 | 17 | (15) | (19) | 8 | 6 | 5 |
| Net profit | 10 | 14 | 17 | (11) | (18) | 6 | 6 | 5 |
| EPS (₹) | 7.96 | 10.75 | 13.85 | (8.62) | (14.53) | 3.91 | 0.80 | 0.69 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CRISIL LTD | 33,999 | 38.5 | 10.39 | — | 13.7 | 16.1 | — | 30.6 |
| ONEMI TECHNOLOGY SOL LTD | 5,509 | 19.5 | 4.10 | 9.4 | 21.0 | 18.8 | — | 32.0 |
| GYFTR LIMITED ◆ | 1,234 | — | 2.54 | 37.9 | 4.5 | 5.3 | 32.8 | 4.3 |
| CENTRUM CAPITAL LIMITED | 969 | — | 0.74 | 9.7 | (21.4) | (2.5) | 49.7 | 29.7 |
| PRIME SECURITIES LIMITED | 968 | 172.9 | 3.78 | — | 5.1 | — | 25.7 | 19.0 |
| WEALTH FRST PORT. MG. LTD | 881 | 26.7 | 5.18 | 16.9 | 22.5 | 30.3 | — | 97.5 |
| REGENCY FINCORP LIMITED | 571 | 52.3 | 3.56 | — | 8.4 | — | — | 84.3 |
| STELLANT SECURITIES (INDIA) LT | 529 | — | 1687.57 | — | 18.2 | 18.2 | — | 56.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 2.5 | 1.0 | 79 of 105 | 25% |
| ROCE | 5.3 | 1.8 | 29 of 83 | 66% |
| ROE | 4.5 | 1.3 | 36 of 111 | 68% |
| Debt / Equity | 0.0 | 0.0 | 38 of 77 | 51% |
| EBITDA margin | 4.3 | 25.6 | 62 of 91 | 32% |
| Profit growth | 148.7 | (0.2) | 17 of 109 | 85% |
| Market cap | 1234 | 26 | 3 of 113 | 98% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · GYFTR adds software and cloud services to its permitted businesses | general | medium | — | — |
| 6 Oct 2026 · Routine compliance certificate for Q2 FY27 dematerialisation | compliance | minimal | — | — |
| 30 Sept 2026 · 42nd AGM: All 8 resolutions passed with 100% approval | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · GYFTR 42nd AGM held on Sep 29, 8 resolutions considered | board shareholder meetings | medium | — | — |
| 26 Sept 2026 · Trading Window closed from Oct 1 for Q2 and H1 FY26 results | compliance | minimal | — | — |
| 23 Sept 2026 · Partnership with Action Tesa for rewards and gifting programme | strategic transactions | medium | — | — |
| 8 Sept 2026 · GYFTR Limited: 42nd AGM notice published in newspapers | compliance | minimal | — | — |
| 7 Sept 2026 · Gyftr 42nd AGM on September 29, 2026 with annual report for FY 2025-26 | board shareholder meetings | low | — | — |
| 6 Sept 2026 · GYFTR Limited notifies 42nd AGM on September 29, 2026 via video conferencing | compliance | minimal | — | — |
| 14 Aug 2026 · Q1 FY27 results: PAT at Rs 3.65 Cr; auditor issues qualified opinion | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.