Fino Payments Bank Ltd

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Fino Payments Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Fino Payments Bank Ltd

₹ 140 -0.09%
11 Sep - close price
finobank.com BSE: 543386 NSE: FINOPB
About

Fino Payments bank commenced banking operations in 2017 as a specialised payments bank. It provides deposit, payment and also transaction banking services to underserved
and underbanked customers, including low-income households, gig workers and rural communities. Operations follow a phygital
model, combining merchant-led assisted banking with digital channels viz FinoPay.
Core offerings include CASA accounts,
cash management services, domestic
money transfer, AePS/Micro ATM, UPI
and mobile banking; loans, fixed deposits
and insurance distributed through partner arrangements[1][2]

Key Points

Representative of Banks:[1]
Company acts as Business Correspondent
for multiple banks. As of Q1 FY27, network comprises ~20 lakh merchants including own and open banking merchants, along with 126 branches & CSPs[2]; merchant network covers ~98% of India’s pin codes. BC agents provide banking services on behalf of partner banks, including account opening, remittances, AePS, bill payments and recharges

Website BSE NSE
  • Market Cap ₹ 1,164 Cr.
  • Current Price ₹ 140
  • High / Low ₹ 339 / 110
  • Stock P/E 47.6
  • Book Value ₹ 96.8
  • Dividend Yield 0.00 %
  • ROCE 4.41 %
  • ROE 6.76 %
  • Face Value ₹ 10.0
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Pros

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 11.2% over last 3 years.
  • Earnings include an other income of Rs.1,178 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Figures in Rs. Crores

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
33 37 39 41 45 48 49 53 61 60 63 64 72
Interest 15 19 22 23 24 25 26 26 28 28 29 29 35
314 320 326 353 389 404 407 438 400 351 344 306 285
Financing Profit -297 -303 -308 -335 -367 -382 -384 -411 -368 -319 -311 -270 -248
Financing Margin % -900% -828% -787% -808% -810% -799% -777% -779% -603% -530% -494% -422% -344%
315 322 331 360 392 408 412 441 392 340 328 275 235
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 19 20 23 25 24 26 28 30 25 21 17 4 -14
Tax % 0% 0% 0% 0% 0% 18% 19% 19% 28% 28% 30% -73% 0%
19 20 23 25 24 21 23 24 18 15 12 7 -14
EPS in Rs 2.25 2.35 2.74 3.03 2.92 2.54 2.78 2.88 2.13 1.84 1.47 0.85 -1.65
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
16 19 18 20 36 95 150 195 248 259
Interest 3 6 10 10 15 47 79 101 114 121
279 410 690 707 915 1,076 1,260 1,576 1,330 1,287
Financing Profit -266 -396 -682 -697 -895 -1,028 -1,189 -1,481 -1,196 -1,148
Financing Margin % -1,716% -2,068% -3,760% -3,441% -2,512% -1,084% -792% -759% -482% -443%
215 352 673 771 973 1,135 1,328 1,652 1,340 1,178
Depreciation 16 18 24 54 35 42 53 62 76 0
Profit before tax -67 -62 -32 20 43 65 86 108 67 29
Tax % 0% 0% 0% 0% 0% 0% 0% 15% 22%
-67 -62 -32 20 43 65 86 93 52 21
EPS in Rs -15.11 -13.99 -7.19 4.59 5.14 7.82 10.36 11.12 6.30 2.51
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 65%
3 Years: 38%
TTM: 23%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: -7%
TTM: -72%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -26%
1 Year: -50%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 11%
Last Year: 7%

Balance Sheet

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 45 45 45 45 83 83 83 83 83
Reserves 180 118 85 106 397 469 560 664 722
Deposits 39 48 118 243 503 917 1,413 1,939 2,379
Borrowing 48 83 111 181 250 434 713 839 1,535
226 392 266 436 448 563 651 680 592
Total Liabilities 538 684 624 1,010 1,680 2,466 3,419 4,206 5,312
46 42 49 62 92 139 148 167 355
CWIP 1 0 0 2 0 5 47 130 9
Investments 64 73 128 504 631 1,146 1,747 2,388 3,254
427 569 446 443 956 1,175 1,477 1,520 1,693
Total Assets 538 684 624 1,010 1,680 2,466 3,419 4,206 5,312

Cash Flows

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-84 -32 207 -20 57 76 -307
-31 -69 -64 -97 -104 -164 -143
28 70 352 184 279 127 696
Net Cash Flow -86 -31 495 68 232 39 246
Free Cash Flow -114 -101 143 -114 -47 -88 -449
CFO/OP 13% 6% -24% 2% -5% -6% 27%

Ratios

Figures in Rs. Crores

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
ROE % -30% -32% -22% 15% 14% 13% 14% 13% 7%

Insights

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Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
CMS Throughput
Rs Crore

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Merchant Count
lakhs
Total CASA Accounts
lakhs
CASA Renewal Income
Rs Crore
Average Deposits
Rs Crore
UPI P2M Throughput
Rs Crore
Referral Loan Disbursals
Rs Crore
Digitally Active Customers
lakhs

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

103 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00% 75.00%
5.57% 5.09% 5.12% 5.12% 4.21% 3.70% 4.08% 2.54% 2.67% 2.69% 1.33% 0.31%
6.83% 5.58% 5.92% 5.99% 6.14% 6.08% 3.52% 3.04% 3.35% 0.45% 0.40% 0.00%
12.60% 14.34% 13.97% 13.90% 14.65% 15.22% 17.41% 19.43% 19.00% 21.87% 23.27% 24.68%
No. of Shareholders 67,99868,89765,15063,91964,49564,46064,10463,09361,62261,48362,35862,125

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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