WEBSITE BSE:544606 NSE: PINELABS Inc. Year: 1998 Industry: Fintech My Bucket: Add Stock
Last updated: 15:59
Pine Labs Ltd. is among India’s foremost merchant commerce and payments technology avenues that allow offline and online businesses to manage payments, credit, and consumer engagement. Established in 1998, the company has transitioned from a provider of retail automation solutions to a full-fledged fintech powerhouse with a robust range of products for point-of-sale (PoS) terminals, QR-based payments, integrated billing solutions, and instant checkout financing for millions of merchants in India and Southeast Asia. Pine Labs product offer com...Read More
Pine Labs Ltd. is among India’s foremost merchant commerce and payments technology avenues that allow offline and online businesses to manage payments, credit, and consumer engagement. Established in 1998, the company has transitioned from a provider of retail automation solutions to a full-fledged fintech powerhouse with a robust range of products for point-of-sale (PoS) terminals, QR-based payments, integrated billing solutions, and instant checkout financing for millions of merchants in India and Southeast Asia. Pine Labs product offer comprises its flagship product Plutus Smart PoS, the Pine Labs Pay Later network, Gift Card & Loyalty solutions and the Setu powered API stack allowing merchants to have both a payment acceptance and valuable services in one integrated platform. Pine Labs is backed by renowned global investors, including Sequoia, Temasek, and Mastercard, and plays a critical role in supporting the fastest growing digital payments ecosystem—with a goal of normalizing seamless customer experiences, driving higher merchant efficiencies and contributing toward deeper financial inclusion across South Asia and Southeast Asia. ...Read Less
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Market Cap ₹22488 Cr.
Stock P/E -154.6
P/B 3.8
Current Price ₹195.8
Book Value ₹ 51.3
Face Value 1
52W High ₹283.7
Dividend Yield 0%
52W Low ₹ 151.2
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2024 | Dec 2024 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|
| Net Sales | 552 | 602 | 650 | 744 |
| Other Income | 22 | 6 | 23 | 35 |
| Total Income | 574 | 608 | 673 | 780 |
| Total Expenditure | 519 | 525 | 575 | 612 |
| Operating Profit | 54 | 83 | 98 | 167 |
| Interest | 18 | 22 | 21 | 24 |
| Depreciation | 75 | 76 | 66 | 68 |
| Exceptional Income / Expenses | 0 | -37 | 0 | -12 |
| Profit Before Tax | -38 | -51 | 11 | 63 |
| Provision for Tax | -6 | 5 | 5 | 20 |
| Profit After Tax | -32 | -57 | 6 | 42 |
| Adjustments | 0 | 0 | -0 | -0 |
| Profit After Adjustments | -32 | -57 | 6 | 42 |
| Adjusted Earnings Per Share | -320.1 | -566.7 | 0.1 | 0.4 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Net Sales | 843 | 650 | 934 | 1598 | 1770 | 2274 | 2548 |
| Other Income | 23 | 33 | 24 | 94 | 55 | 53 | 86 |
| Total Income | 865 | 683 | 958 | 1692 | 1824 | 2327 | 2635 |
| Total Expenditure | 761 | 560 | 820 | 1594 | 1794 | 2056 | 2231 |
| Operating Profit | 105 | 123 | 138 | 98 | 30 | 271 | 402 |
| Interest | 18 | 22 | 24 | 36 | 64 | 79 | 85 |
| Depreciation | 155 | 175 | 189 | 315 | 363 | 292 | 285 |
| Exceptional Income / Expenses | 0 | 0 | 0 | -37 | 0 | -37 | -49 |
| Profit Before Tax | -68 | -74 | -75 | -289 | -398 | -136 | -15 |
| Provision for Tax | -21 | -18 | -52 | -24 | -56 | 9 | 24 |
| Profit After Tax | -47 | -56 | -23 | -265 | -342 | -145 | -41 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -47 | -56 | -23 | -265 | -342 | -145 | -41 |
| Adjusted Earnings Per Share | -0.7 | -0.7 | -0.3 | -2761.9 | -3561.5 | -1515.5 | -886.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 28% | 35% | 22% | 0% |
| Operating Profit CAGR | 803% | 25% | 21% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | NA% | NA% | NA% | NA% |
| ROE Average | -5% | -9% | -6% | -6% |
| ROCE Average | -1% | -6% | -5% | -5% |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Shareholder's Funds | 1047 | 1191 | 1913 | 3739 | 3542 | 3506 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 97 | 98 | 93 | 154 | 114 | 47 |
| Other Non-Current Liabilities | 79 | 36 | 1 | 285 | 57 | 51 |
| Total Current Liabilities | 2224 | 3205 | 4166 | 5074 | 5775 | 6954 |
| Total Liabilities | 3447 | 4530 | 6174 | 9252 | 9487 | 10558 |
| Fixed Assets | 1017 | 980 | 1019 | 2103 | 1920 | 1825 |
| Other Non-Current Assets | 151 | 145 | 380 | 514 | 468 | 492 |
| Total Current Assets | 2279 | 3405 | 4776 | 6634 | 7100 | 8241 |
| Total Assets | 3447 | 4530 | 6174 | 9252 | 9487 | 10558 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 79 | 1633 | 32 | 1471 | 956 | 556 |
| Cash Flow from Operating Activities | 11 | 111 | -68 | -152 | -229 | 50 |
| Cash Flow from Investing Activities | 112 | -260 | -446 | -371 | 45 | -159 |
| Cash Flow from Financing Activities | 1431 | 823 | 726 | 2 | -220 | -201 |
| Net Cash Inflow / Outflow | 1554 | 674 | 212 | -521 | -403 | -311 |
| Closing Cash & Cash Equivalent | 1633 | 2307 | 244 | 956 | 556 | 245 |
| # | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -0.66 | -0.72 | -0.28 | -2761.93 | -3561.49 | -1515.49 |
| CEPS(Rs) | 1.5 | 1.54 | 2.05 | 519.64 | 217.4 | 1527.15 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 14.57 | 15.42 | 21.68 | 34890.35 | 31828.78 | 32198.06 |
| Core EBITDA Margin(%) | 9.74 | 13.81 | 12.2 | 0.25 | -1.41 | 9.59 |
| EBIT Margin(%) | -5.93 | -7.99 | -5.44 | -15.88 | -18.82 | -2.53 |
| Pre Tax Margin(%) | -8.06 | -11.4 | -7.98 | -18.12 | -22.47 | -6 |
| PAT Margin (%) | -5.61 | -8.59 | -2.42 | -16.6 | -19.32 | -6.4 |
| Cash Profit Margin (%) | 12.76 | 18.34 | 17.78 | 3.12 | 1.18 | 6.45 |
| ROA(%) | -1.37 | -1.4 | -0.42 | -3.44 | -3.65 | -1.45 |
| ROE(%) | -4.51 | -4.99 | -1.53 | -10.38 | -10.68 | -4.73 |
| ROCE(%) | -4.08 | -3.9 | -2.88 | -8.16 | -8.18 | -1.37 |
| Receivable days | 92.66 | 161.16 | 128.9 | 101.54 | 128.03 | 120.12 |
| Inventory Days | 1.42 | 1.91 | 2.99 | 5.9 | 7 | 4.66 |
| Payable days | 143.87 | 1006.96 | 2656.3 | 939.35 | 882.8 | 595.79 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | -1.88 | -3.55 | -3.78 | -3 | -2.66 | -2.29 |
| EV/Core EBITDA(x) | -15.09 | -18.72 | -25.6 | -48.81 | -158.51 | -19.18 |
| Net Sales Growth(%) | 0 | -22.86 | 43.68 | 71.06 | 10.76 | 28.52 |
| EBIT Growth(%) | 0 | -3.88 | 2.06 | -399.07 | -31.29 | 82.76 |
| PAT Growth(%) | 0 | -18.18 | 59.5 | -1072.27 | -28.95 | 57.45 |
| EPS Growth(%) | 0 | -9.96 | 61.48 | 0 | -28.95 | 57.45 |
| Debt/Equity(x) | 0.17 | 0.21 | 0.13 | 0.1 | 0.17 | 0.27 |
| Current Ratio(x) | 1.02 | 1.06 | 1.15 | 1.31 | 1.23 | 1.19 |
| Quick Ratio(x) | 1.02 | 1.06 | 1.14 | 1.3 | 1.22 | 1.18 |
| Interest Cover(x) | -2.78 | -2.34 | -2.15 | -7.1 | -5.17 | -0.73 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 |
| FII | 0 | 5.14 | 5.23 | 4.8 |
| DII | 0 | 9.91 | 11.25 | 11.81 |
| Public | 0 | 84.95 | 83.51 | 83.39 |
| Others | 0 | 0 | 0 | 0 |
| Total | 0 | 100 | 100 | 100 |
| # | Sep 2025 | Nov 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|
| Promoter | 0 | 0 | 0 | 0 |
| FII | 0 | 5.9 | 6.01 | 5.51 |
| DII | 0 | 11.38 | 12.92 | 13.56 |
| Public | 0 | 97.55 | 95.9 | 95.76 |
| Others | 0 | 0 | 0 | 0 |
| Total | 0 | 114.83 | 114.83 | 114.83 |
* The pros and cons are machine generated.
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