Pine Labs Ltd
Incorporated in 1998, Pine Labs is a leading Indian merchant commerce platform that provides point-of-sale (POS) solutions, payment processing, and merchant financing services.[1]
- Market Cap ₹ 27,567 Cr.
- Current Price ₹ 240
- High / Low ₹ 284 / 213
- Stock P/E
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE -0.49 %
- ROE -3.31 %
- Face Value ₹ 1.00
Pros
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -7.02% over last 3 years.
* 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
Financial Services Financial Services Financial Technology (Fintech) Financial Technology (Fintech)
Part of BSE IPO
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 848 | 670 | 932 | 1,598 | 1,770 | 2,274 | |
| 760 | 560 | 820 | 1,592 | 1,794 | 2,056 | |
| Operating Profit | 87 | 110 | 112 | 5 | -25 | 218 |
| OPM % | 10% | 16% | 12% | 0% | -1% | 10% |
| 18 | 13 | 25 | 56 | 55 | 16 | |
| Interest | 18 | 22 | 24 | 36 | 64 | 79 |
| Depreciation | 155 | 175 | 189 | 315 | 363 | 292 |
| Profit before tax | -68 | -74 | -75 | -289 | -398 | -136 |
| Tax % | -30% | -25% | -70% | -8% | -14% | 7% |
| -47 | -56 | -23 | -265 | -342 | -145 | |
| EPS in Rs | -3.95 | -4.34 | -1.67 | -18.99 | -4.07 | -1.73 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 35% |
| TTM: | 29% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 67% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -6% |
| 3 Years: | -7% |
| Last Year: | -3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 13 | 14 | 0.02 | 0.10 | 0.10 | 103 |
| Reserves | 1,035 | 1,178 | 1,900 | 3,664 | 3,466 | 3,431 | 3,608 |
| 176 | 191 | 236 | 514 | 730 | 1,046 | 858 | |
| 2,225 | 3,185 | 4,111 | 5,141 | 5,422 | 6,222 | 6,737 | |
| Total Liabilities | 3,448 | 4,567 | 6,260 | 9,318 | 9,618 | 10,698 | 11,306 |
| 1,017 | 980 | 1,019 | 2,103 | 1,920 | 1,825 | 1,905 | |
| CWIP | 52 | 48 | 122 | 269 | 222 | 160 | 58 |
| Investments | 40 | 34 | 50 | 18 | 21 | 30 | 28 |
| 2,338 | 3,505 | 5,070 | 6,928 | 7,455 | 8,683 | 9,315 | |
| Total Assets | 3,448 | 4,567 | 6,260 | 9,318 | 9,618 | 10,698 | 11,306 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 11 | 111 | -79 | -152 | -229 | 50 | |
| 112 | -260 | -443 | -441 | -22 | -486 | |
| 1,431 | 823 | 1,644 | 2 | -220 | -201 | |
| Net Cash Flow | 1,554 | 674 | 1,122 | -591 | -471 | -637 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 92 | 196 | 116 | 135 | 134 | 136 |
| Inventory Days | 5 | 23 | 134 | 65 | 38 | |
| Days Payable | 144 | 1,345 | 1,233 | 908 | 693 | |
| Cash Conversion Cycle | -47 | -1,126 | 116 | -964 | -708 | -519 |
| Working Capital Days | -722 | -1,252 | -1,255 | -813 | -807 | -762 |
| ROCE % | -4% | -3% | -7% | -8% | -0% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Acquisition
2h - Invested INR 63,99,99,989.50 in BTPL (4,83,01,886 shares) on Jan 23, 2026.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20 Jan
-
Receipt Of Approval From The Reserve Bank Of India (RBI) For Brokentusk Technologies Private Limited (Setu A Wholly Owned Subsidiary Of Pine Labs Limited ("Company")) To Increase Its Stake In Agya Technologies Private Limited (Agya Technologies)
20 Jan - RBI approved Setu’s acquisition of 100% stake in Agya Technologies (NBFC‑AA); completion to occur in tranches.
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Board Meeting Intimation for To Consider And Approve The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Nine Months Ended December 31 2025 And Other Matters.
20 Jan - Board meeting on Jan 28, 2026 to approve Q3/9M FY26 unaudited results; earnings call at 6:00 PM IST.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Jan
Concalls
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Dec 2025Transcript PPT REC
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Nov 2025TranscriptAI SummaryPPT
Business Profile[1]
Pine Labs is a technology-first company focused on digitizing commerce in India and select global markets like Malaysia, Singapore, UAE, Australia, the US, and Africa. Their core business is providing digital payment and issuing solutions for merchants, consumer brands, enterprises, and financial institutions. Its customer base spans across department stores, supermarkets, retail chains, restaurants, grocery outlets, consumer electronics, healthcare, travel, hospitality, and a growing roster of banks and new-age technology firms