Finance - Investment · Founded 1984 · www.lkpfinance.com · BSE 507912 · NSE GYFTR · ISIN INE724A01017
No Notes Added Yet
Business
Gyftr Ltd., operating in the Finance - Investment sector, is primarily known as a digital gift card marketplace and loyalty platform. The company facilitates the purchase, gifting, and redemption of digital gift cards from a wide array of brands across various categories (e.g., retail, dining, entertainment, travel). Its core business model involves acting as an intermediary between gift card issuers/brands and consumers/corporate clients. Gyftr Ltd. generates revenue through transaction fees, commissions from brand partners on gift card sales, and potentially through value-added services such as loyalty program management, corporate gifting solutions, and data analytics derived from its platform activity. The "Finance - Investment" classification likely reflects the underlying financial infrastructure, treasury management of gift card floats, strategic partnerships with financial institutions, and potential investments in technology or related ventures that support and expand its core digital payments and loyalty ecosystem.
Revenue Mix
Specific breakdowns of revenue mix are not publicly available. However, based on the nature of its business, potential key revenue segments may include:
B2C Gift Card Sales: Direct sales of digital gift cards to individual consumers.
B2B Corporate Gifting & Incentives: Solutions for businesses to use gift cards for employee rewards, client appreciation, and sales promotions.
Loyalty Program Management: Providing white-label or integrated gift card solutions for other companies' loyalty programs.
Platform Fees/Partnerships: Revenue from brands for listing their gift cards and utilizing Gyftr's distribution network.
Industry
Gyftr Ltd. operates within the broader FinTech, digital payments, e-commerce, and loyalty solutions industries in India, with a specific focus on the stored-value and digital gifting market. The industry is characterized by increasing digitalization, growing e-commerce penetration, and a shift from physical to digital payment methods. The market includes direct brand-issued gift cards, other multi-brand gift card platforms, loyalty program providers, and digital wallets. Gyftr has established itself as a prominent player in the Indian digital gift card space, leveraging a wide network of brand partnerships and a user-friendly platform. Its positioning is enhanced by offering a comprehensive marketplace that aggregates multiple brands, simplifying the gifting process for consumers and providing a broad distribution channel for brands.
MOAT
Network Effects: A wide selection of popular brands attracts more users, which in turn makes the platform more attractive for additional brands to join, creating a positive feedback loop.
Brand Partnerships & Scale: An extensive network of partnerships with leading national and international brands provides a significant competitive barrier and wide product offering.
Technology & Platform: Proprietary technology that enables seamless gift card issuance, delivery, and redemption across various brands, potentially offering superior user experience and integration capabilities.
Data & Analytics: Accumulated data on consumer gifting patterns and preferences can be leveraged for personalized offers and enhanced services, benefiting both users and partner brands.
Growth Drivers
Digitalization of Gifting: Continued shift from traditional physical gifts to digital gift cards, driven by convenience and instant delivery.
E-commerce Growth: Expansion of online shopping in India directly boosts the relevance and demand for digital payment instruments like gift cards.
Corporate Gifting Market: Increasing adoption of digital gift cards by businesses for employee incentives, rewards, and client engagement.
Rising Disposable Incomes: Growing middle class and increased consumer spending power in India lead to higher demand for discretionary purchases and gifting.
Expansion of Partner Network: Adding more brands and categories to the platform can attract a wider user base and increase transaction volumes.
Risks
Competition: Intense competition from other digital gift card platforms, direct brand offerings, loyalty programs, and broader digital payment solutions.
Regulatory Changes: Evolving regulations related to stored-value instruments, digital payments, and consumer protection could impact operations or require significant compliance efforts.
Data Security & Privacy: Risk of cyberattacks, data breaches, or misuse of customer data, which could severely damage brand reputation and lead to financial penalties.
Reliance on Brand Partnerships: Dependence on maintaining strong relationships with a large number of brands; loss of key partners could impact offerings.
Economic Downturn: A slowdown in consumer spending or corporate budgets could negatively affect gift card sales and transaction volumes.
Technology Obsolescence: Need for continuous investment in technology to remain competitive and adapt to changing user preferences and industry standards.
Management & Ownership
Specific details regarding the promoters, management team's track record, and granular ownership structure are not available in the provided information. Typically, for companies in India, the vision and execution capabilities of the promoter group are crucial, and institutional ownership can provide stability and governance oversight.
Outlook
Gyftr Ltd. operates in a structurally growing market driven by digital transformation and increasing consumer adoption of online services in India. The convenience and flexibility of digital gift cards, coupled with their utility in corporate gifting, present a significant addressable market. The company's established network of brand partnerships and technological platform are key strengths. However, the market is competitive, requiring continuous innovation, robust data security, and strategic expansion to maintain market share. Regulatory changes in the FinTech space also pose an ongoing consideration. The future trajectory will depend on its ability to deepen its ecosystem, broaden its service offerings, and navigate competitive and regulatory landscapes effectively.
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 26 | 20 | 23 | 21 | 19 | -13 | -16 | 90 | 302 | 158 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 21 | 6 | 5 |
| Total Income | 26 | 20 | 23 | 21 | 19 | -13 | -13 | 112 | 309 | 163 |
| Total Expenditure | 1 | -1 | 10 | 1 | 1 | 1 | 8 | 101 | 301 | 156 |
| Operating Profit | 24 | 21 | 13 | 20 | 18 | -14 | -21 | 11 | 8 | 7 |
| Interest Expense | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 2 | 1 |
| Profit Before Tax | 23 | 20 | 12 | 19 | 17 | -15 | -19 | 8 | 6 | 5 |
| Provision for Tax | 4 | 5 | 2 | 5 | 0 | -4 | -1 | 3 | 3 | 2 |
| Profit After Tax | 20 | 15 | 10 | 14 | 17 | -11 | -18 | 6 | 3 | 4 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 3 | 2 |
| Profit After Adjustments | 20 | 15 | 10 | 14 | 17 | -11 | -18 | 6 | 6 | 5 |
| Adjusted Earnings Per Share | 3 | 2.3 | 1.5 | 2 | 2.6 | -1.6 | -2.8 | 0.8 | 0.8 | 0.7 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Revenue | 102 | 42 | 76 | 15 | 19 | 96 | 61 | 28 | 90 | 0 | 380 | 534 |
| Other Income | 4 | 2 | 3 | 30 | 0 | 1 | 7 | 0 | 1 | 14 | 61 | 35 |
| Total Income | 106 | 44 | 79 | 45 | 19 | 97 | 68 | 28 | 91 | 14 | 441 | 571 |
| Total Expenditure | 73 | 17 | 53 | 16 | 40 | 25 | 23 | 9 | 13 | 11 | 409 | 566 |
| Operating Profit | 32 | 27 | 26 | 29 | -20 | 72 | 45 | 20 | 78 | 3 | 32 | 5 |
| Interest Expense | 20 | 14 | 5 | 2 | 2 | 3 | 3 | 4 | 5 | 3 | 0 | 1 |
| Depreciation | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 5 |
| Profit Before Tax | 11 | 12 | 21 | 26 | -23 | 70 | 42 | 16 | 73 | 2 | 29 | 0 |
| Provision for Tax | 3 | 2 | 1 | 6 | 0 | 9 | 5 | 2 | 14 | 1 | 7 | 7 |
| Profit After Tax | 7 | 10 | 20 | 20 | -23 | 61 | 37 | 14 | 59 | 2 | 22 | -5 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 |
| Profit After Adjustments | 7 | 10 | 20 | 20 | -23 | 61 | 37 | 14 | 59 | 2 | 22 | -1 |
| Adjusted Earnings Per Share | 1.2 | 1.6 | 3 | 3 | -3.4 | 9.2 | 5.5 | 2.1 | 9 | 0.3 | 2.8 | -0.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 139% | 32% | 14% |
| Operating Profit CAGR | 967% | 17% | -15% | 0% |
| PAT CAGR | 1000% | 16% | -18% | 12% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 5% | 114% | 49% | 31% |
| ROE Average | 5% | 8% | 8% | 9% |
| ROCE Average | 7% | 9% | 9% | 10% |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 150 | 122 | 144 | 170 | 144 | 253 | 289 | 297 | 357 | 347 | 485 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Current Liability | 200 | 114 | 58 | 38 | 42 | 55 | 91 | 124 | 89 | 38 | 29 |
| Other Liabilities & Provisions | -2 | -0 | -0 | -7 | -7 | 8 | 6 | 4 | 10 | 1 | -7 |
| Total Liabilities | 350 | 236 | 202 | 201 | 180 | 316 | 385 | 425 | 456 | 386 | 508 |
| Loans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 59 | 0 | 0 |
| Investments | 37 | 66 | 50 | 29 | 67 | 60 | 60 | 89 | 112 | 49 | 264 |
| Fixed Assets | 13 | 3 | 3 | 2 | 2 | 2 | 2 | 2 | 2 | 0 | 28 |
| Other Loans | 7 | 4 | 9 | 11 | 13 | 5 | 9 | 6 | 0 | 11 | 11 |
| Other Non Current Assets | 2 | 17 | 11 | 0 | 0 | 0 | 0 | 0 | 12 | 0 | 0 |
| Current Assets | 291 | 146 | 129 | 160 | 99 | 250 | 314 | 329 | 272 | 326 | 184 |
| Total Assets | 350 | 236 | 202 | 201 | 180 | 316 | 385 | 425 | 456 | 386 | 508 |
| #(Fig in Cr.) | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 52 | 1 | 4 | 78 | 4 | 4 | 8 | 21 | 8 | 2 | 19 |
| Cash Flow from Operating Activities | 1 | -8 | 58 | -2 | -14 | -13 | -14 | 11 | 51 | -1 | 12 |
| Cash Flow from Investing Activities | 18 | -5 | 8 | -45 | 18 | 8 | -5 | -56 | -10 | 52 | -108 |
| Cash Flow from Financing Activities | -10 | 16 | -45 | -27 | -4 | 9 | 31 | 32 | -46 | -33 | 81 |
| Net Cash Inflow / Outflow | 9 | 3 | 20 | -74 | 0 | 4 | 13 | -13 | -5 | 18 | -16 |
| Closing Cash & Cash Equivalent | 61 | 4 | 25 | 4 | 4 | 8 | 21 | 8 | 2 | 19 | 3 |
| # | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 1.15 | 1.56 | 3.01 | 3 | -3.44 | 9.17 | 5.53 | 2.1 | 8.99 | 0.28 | 2.84 |
| CEPS(Rs) | 1.38 | 1.58 | 3.05 | 3.01 | -3.44 | 9.18 | 5.54 | 2.11 | 9 | 0.28 | 3.68 |
| DPS(Rs) | 1.33 | 0.38 | 0.38 | 0.57 | 0.38 | 0.38 | 0.57 | 0.19 | 0.57 | 0 | 0 |
| Book NAV/Share(Rs) | 23.41 | 19.05 | 22 | 25.69 | 21.84 | 38.31 | 43.77 | 44.91 | 54.01 | 52.46 | 63.17 |
| Net Profit Margin | 7.26 | 24 | 25.77 | 136.51 | -117.41 | 63.34 | 59.94 | 49.3 | 66.14 | 0 | 5.74 |
| Operating Margin | 30.35 | 63.58 | 34.23 | 197.22 | -105.85 | 75.33 | 73.3 | 69.35 | 86.87 | 0 | 7.74 |
| PBT Margin | 10.48 | 29.48 | 27.5 | 180.85 | -117.41 | 72.64 | 68.69 | 56.35 | 81.57 | 0 | 7.65 |
| ROA(%) | 2.06 | 3.42 | 8.98 | 9.83 | -11.93 | 24.45 | 10.42 | 3.42 | 13.49 | 0.43 | 4.88 |
| ROE(%) | 4.87 | 7.35 | 14.79 | 12.63 | -14.47 | 30.51 | 13.48 | 4.73 | 18.18 | 0.52 | 5.24 |
| ROCE(%) | 10.06 | 10.35 | 12.51 | 14.1 | -10.61 | 30.09 | 13.34 | 4.94 | 18.17 | 1.34 | 6.77 |
| Price/Earnings(x) | 11.92 | 8.64 | 9.16 | 7.81 | 0 | 1.56 | 3.22 | 6.66 | 3.26 | 271.9 | 56.09 |
| Price/Book(x) | 0.59 | 0.71 | 1.25 | 0.91 | 0.49 | 0.37 | 0.41 | 0.31 | 0.54 | 1.43 | 2.52 |
| Dividend Yield(%) | 9.7 | 2.82 | 1.38 | 2.44 | 3.56 | 2.65 | 3.2 | 1.36 | 1.95 | 0 | 0 |
| EV/Net Sales(x) | 1.68 | 4.03 | 1.94 | 11.63 | 4.35 | 1.16 | 2.48 | 6.06 | 2.59 | 0 | 3.21 |
| EV/Core EBITDA(x) | 5.29 | 6.31 | 5.63 | 5.87 | -4.12 | 1.53 | 3.38 | 8.72 | 2.97 | 145.38 | 37.55 |
| Interest Earned Growth(%) | -27.97 | -59.01 | 82.92 | -80.99 | 33.47 | 394.52 | -36.29 | -53.87 | 219.41 | -99.98 | 0 |
| Net Profit Growth | -58.43 | 35.52 | 96.39 | 0.7 | -214.79 | 366.77 | -39.71 | -62.06 | 328.51 | -96.94 | 1099.31 |
| EPS Growth(%) | -58.43 | 35.52 | 92.86 | -0.48 | -214.79 | 366.77 | -39.71 | -62.06 | 328.51 | -96.94 | 932.32 |
| Interest Coverage(x) % | 1.53 | 1.86 | 5.08 | 12.05 | -9.16 | 28 | 15.92 | 5.33 | 16.4 | 1.79 | 89.59 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 45.32 | 45.32 | 45.32 | 9.95 | 61.21 | 61.21 | 50.08 | 50.08 | 50.08 | 50.08 |
| FII | 5.62 | 7.2 | 7.2 | 4.42 | 2.56 | 2.61 | 4.98 | 4.43 | 5.1 | 5.12 |
| DII | 0 | 0 | 0 | 0 | 0 | 0.09 | 4.03 | 4.63 | 4.42 | 5.48 |
| Public | 49.06 | 47.48 | 47.48 | 85.63 | 36.23 | 36.09 | 40.91 | 40.86 | 40.41 | 39.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.57 | 0.57 | 0.57 | 0.13 | 0.77 | 0.77 | 0.77 | 3.85 | 3.85 | 3.85 |
| FII | 0.07 | 0.09 | 0.09 | 0.06 | 0.03 | 0.03 | 0.08 | 0.34 | 0.39 | 0.39 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0.06 | 0.36 | 0.34 | 0.42 |
| Public | 0.62 | 0.6 | 0.6 | 1.08 | 0.46 | 0.45 | 0.63 | 3.14 | 3.1 | 3.02 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.54 | 7.68 | 7.68 | 7.68 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | — | +139% | +32% | +14% |
| Operating Profit CAGR | +967% | +17% | -15% | 0% |
| PAT CAGR | +1000% | +16% | -18% | +12% |
| Share Price CAGR | +5% | +114% | +49% | +31% |
| ROE Average | +5% | +8% | +8% | +9% |
| ROCE Average | +7% | +9% | +9% | +10% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 45.32 | 45.32 | 45.32 | 9.95 | 61.21 | 61.21 | 50.08 | 50.08 | 50.08 | 50.08 |
| FII | 5.62 | 7.2 | 7.2 | 4.42 | 2.56 | 2.61 | 4.98 | 4.43 | 5.1 | 5.12 |
| DII | 0 | 0 | 0 | 0 | 0 | 0.09 | 4.03 | 4.63 | 4.42 | 5.48 |
| Public | 49.06 | 47.48 | 47.48 | 85.63 | 36.23 | 36.09 | 40.91 | 40.86 | 40.41 | 39.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.57 | 0.57 | 0.57 | 0.13 | 0.77 | 0.77 | 0.77 | 3.85 | 3.85 | 3.85 |
| FII | 0.07 | 0.09 | 0.09 | 0.06 | 0.03 | 0.03 | 0.08 | 0.34 | 0.39 | 0.39 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0.06 | 0.36 | 0.34 | 0.42 |
| Public | 0.62 | 0.6 | 0.6 | 1.08 | 0.46 | 0.45 | 0.63 | 3.14 | 3.1 | 3.02 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.26 | 1.54 | 7.68 | 7.68 | 7.68 |
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