Pine Labs Ltd

Pine Labs Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Pine Labs Ltd

₹ 145 -0.91%
29 May - close price
pinelabs.com BSE: 544606 NSE: PINELABS
About

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]

Key Points

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

Website BSE NSE
  • Market Cap ₹ 16,597 Cr.
  • Current Price ₹ 145
  • High / Low ₹ 284 / 135
  • Stock P/E 144
  • Book Value ₹ 51.3
  • Dividend Yield 0.00 %
  • ROCE 4.16 %
  • ROE 2.46 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 32.3% CAGR over last 5 years

Cons

  • Stock is trading at 2.81 times its book value
  • Company has a low return on equity of -2.93% over last 3 years.
  • Earnings include an other income of Rs.133 Cr.
  • Company's cost of borrowing seems high

* 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 Nifty 500 BSE IPO Nifty Smallcap 100 BSE Financial Services Nifty MidSmallcap 400

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
552 602 599 616 650 744 701
519 525 542 571 575 612 594
Operating Profit 32 77 57 45 75 132 106
OPM % 6% 13% 9% 7% 12% 18% 15%
22 -30 12 37 23 23 50
Interest 18 22 22 21 21 24 17
Depreciation 75 76 69 65 66 68 71
Profit before tax -38 -51 -22 -5 11 63 68
Tax % -16% 11% 30% -199% 47% 32% 13%
-32 -57 -29 5 6 42 59
EPS in Rs -0.38 -0.67 -0.34 0.11 0.13 0.37 0.52
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
848 670 932 1,598 1,770 2,274 2,711
760 560 820 1,592 1,794 2,056 2,352
Operating Profit 87 110 112 5 -25 218 358
OPM % 10% 16% 12% 0% -1% 10% 13%
18 13 25 56 55 16 133
Interest 18 22 24 36 64 79 84
Depreciation 155 175 189 315 363 292 270
Profit before tax -68 -74 -75 -289 -398 -136 137
Tax % -30% -25% -70% -8% -14% 7% 18%
-47 -56 -23 -265 -342 -145 113
EPS in Rs -3.95 -4.34 -1.67 -18.99 -4.07 -1.73 0.98
Dividend Payout % 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 32%
3 Years: 19%
TTM: 19%
Compounded Profit Growth
10 Years: %
5 Years: 32%
3 Years: 36%
TTM: 201%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: %
Return on Equity
10 Years: %
5 Years: -4%
3 Years: -3%
Last Year: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 12 13 14 0.02 0.10 0.10 115
Reserves 1,035 1,178 1,900 3,664 3,466 3,431 5,781
176 191 236 514 730 1,046 441
2,225 3,185 4,111 5,141 5,422 6,222 6,961
Total Liabilities 3,448 4,567 6,260 9,318 9,618 10,698 13,297
1,017 980 1,019 2,103 1,920 1,825 1,963
CWIP 52 48 122 269 222 160 41
Investments 40 34 50 18 21 30 28
2,338 3,505 5,070 6,928 7,455 8,683 11,265
Total Assets 3,448 4,567 6,260 9,318 9,618 10,698 13,297

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
11 111 -79 -152 -229 50 395
112 -260 -443 -441 -22 -486 -1,339
1,431 823 1,644 2 -220 -201 1,972
Net Cash Flow 1,554 674 1,122 -591 -471 -637 1,029
Free Cash Flow -156 -54 -407 -517 -486 -99 161
CFO/OP 86% 114% -25% -1,258% 872% 5% 112%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 92 196 116 135 134 136 140
Inventory Days 5 23 134 65 38 32
Days Payable 144 1,345 1,233 908 693 382
Cash Conversion Cycle -47 -1,126 116 -964 -708 -519 -210
Working Capital Days -722 -1,252 -1,255 -813 -807 -762 -609
ROCE % -4% -3% -7% -8% -0% 4%

Insights

In beta
Mar 2023 Mar 2024 Mar 2025
Digital Checkout Points (DCPs)
Lakhs

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International Revenue Mix
Percentage (%)
Number of Merchants
Lakhs
Number of Transactions
Crores
Platform Gross Transaction Value (GTV)
Rs. Crores (000's)
Prepaid Cards Issued
Crores

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

13 Recently
Dec 2025Mar 2026
5.23% 4.80%
11.26% 11.81%
83.51% 83.39%
No. of Shareholders 1,27,7921,17,551

* 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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Documents

Announcements

Annual reports

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DRHP

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