Builds digital checkout and payment infrastructure for merchants, processing transactions across point-of-sale devices, online checkouts, and prepaid cards. Revenue splits into two segments: Digital infrastructure and transaction platform, contributing 67.8% of FY26 revenue, houses merchant-facing checkout services including a Digital Checkout Points network of 21.7 lakh devices spread across 11.5 lakh merchants, plus international operations spanning 22 countries. Issuing and acquiring platform contributes 32.2% of FY26 revenue and covers prepaid card issuance, payment processing for co-branded programs, and the Setu bill payments platform that handles 15% of India's bill payment volume. The combined platform processed about ₹4.22 lakh crore of gross transaction value in a single recent quarter across 201 crore transactions, and the prepaid card base exceeds 865 million. Multi-year contracts cover roughly 1.3 lakh fuel outlets across BPCL, HPCL, and IOCL, and the company reports about 85% share of the offline consumer durables BNPL market. Employee cost is the largest operating expense at 39.4% of revenue, followed by other operating expenses at 33.8% and depreciation at 10%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Digital infrastructure and transaction platform (68%), Issuing and acquiring platform (32%). Asset-light, two-rail digital payments and issuing platform
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 2,711 |
| EBITDA (ex other income) | 355 |
| margin % | 13.1 |
| Owners' profit | 113 |
| EPS, as reported (₹) | 1.05 |
| ROE % · ROCE % | 1.9 · 3.6 |
| Debt / equity (x) | 0.05 |
| Cash from operations | 395 |
| Capex | (238) |
| ₹ crore | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|
| Revenue | 650 | 744 | 701 | 737 |
| Profit before tax | 11 | 63 | 68 | 38 |
| Net profit | 6 | 42 | 59 | 20 |
| EPS (₹) | 0.06 | 0.38 | 0.52 | 0.17 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Digital infrastructure and transaction platform | 1,402 | 67.0 |
| Issuing and acquiring platform | 692 | 33.0 |
| Total, before eliminations | 2,095 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ONE 97 COMMUNICATIONS LTD | 1,15,680 | 177.9 | 7.22 | 96.1 | 3.4 | 3.6 | — | 15.7 |
| PB FINTECH LIMITED | 83,161 | 110.7 | 11.36 | 93.5 | 9.2 | 9.2 | — | 12.3 |
| PINE LABS LIMITED ◆ | 22,945 | 176.0 | 3.89 | 44.4 | 1.9 | 2.2 | — | 16.8 |
| SESHAASAI TECHNOLOGIES L | 6,318 | 20.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Sept 2026 · Pine Labs appoints Jayaram Karthik as Chief Operations Officer | management changes | high | — | — |
| 25 Aug 2026 · Pine Labs shares AGM weblink and e-voting details for FY26 | compliance | minimal | — | — |
| 24 Aug 2026 · Pine Labs FY26 Annual Report: first profit year, revenue Rs 2,711 Cr, EBITDA up 57% | results | high | — | — |
| 22 Aug 2026 · Pine Labs 28th AGM notice published; meeting on Sept 16, 2026 | compliance | minimal | — | — |
| 21 Aug 2026 · Pine Labs Annual Report FY26: Revenue Rs 2,711 Cr, PAT Rs 113 Cr vs loss | compliance | medium | — | — |
| 21 Aug 2026 · Notice of 28th AGM on September 16, 2026 | board shareholder meetings | low | — | — |
| 20 Aug 2026 · Newspaper publication about Pine Labs 28th AGM | compliance | minimal | — | — |
| 19 Aug 2026 · 28th Annual General Meeting scheduled for September 16, 2026 | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Pine Labs grants 15.88 lakh ESOPs to employees under ESOP 2025 | capital market events | medium | — | — |
| 3 Aug 2026 · Pine Labs Q1 FY27 earnings call: 20% growth, margin dip from investments | investor communications | medium | — | — |
| 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 |
| 4.43 |
| 15.8 |
| 16.8 |
| 22.0 |
| — |
| 25.1 |
| AVENUESAI LIMITED | 5,692 | 16.1 | 1.14 | 11.8 | 5.9 | 6.2 | 64.4 | 4.8 |
| NETWORK PEOPLE SRV TECH L | 3,494 | 74.9 | 7.92 | 49.5 | 9.3 | 12.3 | — | 33.3 |
| ONE MOBIKWIK SYSTEMS LTD | 1,649 | — | 3.06 | — | (11.5) | (11.2) | — | 5.6 |
| WSFX Global Pay Limited | 80 | — | 2.82 | — | (4.5) | (6.4) | — | (20.5) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 176.0 | 92.8 | 5 of 6 | 20% |
| P/B | 3.9 | 3.5 | 6 of 10 | 44% |
| ROCE | 2.3 | 3.7 | 7 of 10 | 33% |
| ROE | 1.9 | 4.4 | 7 of 10 | 33% |
| Debt / Equity | 0.1 | 0.1 | 5 of 10 | 56% |
| EBITDA margin | 16.8 | 8.9 | 3 of 10 | 78% |
| Market cap | 22945 | 4593 | 3 of 10 | 78% |
| 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 |
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.
