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Pine Labs (PINELABS)₹161.79−1.24%Financial Technology (Fintech)
In the Sep 2026 quarter (consolidated), Pine Labs reported sales of ₹805 Cr, up 23.9% from Sep 2025, and net profit of ₹39.04 Cr, up 549.6% year on year. For the year to Mar 2026, sales were ₹2,711 Cr and net profit ₹113 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 552 | 602 | 599 | 615 | 650 | 744 | 701 | 737 | 805 |
| Expenses | 518 | 525 | 541 | 570 | 574 | 611 | 594 | 641 | 680 |
| Operating Profit | 32.01 | 77.06 | 57.02 | 45.02 | 75.01 | 132 | 106 | 95.05 | 126 |
| OPM % | 6.0% | 12.9% | 9.0% | 7.0% | 12.0% | 18.0% | 15.0% | 12.9% | 16.0% |
| Other Income | 22.03 | −30.06 | 12.03 | 37.08 | 23.05 | 23.03 | 50.12 | 29.06 | 26.07 |
| Interest | 18.04 | 22.04 | 22.04 | 21.04 | 21.04 | 24.08 | 17.04 | 13.03 | 14.02 |
| Depreciation | 75.23 | 76.30 | 69.24 | 65.18 | 66.19 | 68.18 | 71.24 | 73.21 | 76.23 |
| Profit before tax | −37.88 | −50.79 | −21.93 | −4.98 | 10.96 | 62.80 | 67.71 | 37.88 | 60.79 |
| Tax % | −15.9% | 11.1% | 30.0% | −198.9% | 47.0% | 32.1% | 13.1% | 48.0% | 37.1% |
| Exceptional items | 0.00 | −32.92 | 0.00 | 0.00 | 0.00 | −7.98 | 5.99 | 0.00 | 0.00 |
| Net Profit | −32.02 | −57.05 | −29.04 | 5.01 | 6.01 | 41.99 | 59.04 | 19.99 | 39.04 |
| EPS (Rs) | −0.39 | −0.68 | −0.35 | 0.12 | 0.14 | 0.38 | 0.53 | 0.18 | 0.34 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 847 | 670 | 932 | 1,596 | 1,769 | 2,272 | 2,711 | 2,987 |
| Expenses | 760 | 560 | 819 | 1,591 | 1,791 | 2,054 | 2,352 | 2,526 |
| Operating Profit | 86.96 | 110 | 112 | 5.01 | −24.99 | 218 | 358 | 459 |
| OPM % | 10.0% | 15.9% | 11.9% | 0.3% | −1.4% | 10.0% | 13.0% | 15.4% |
| Other Income | 18.02 | 13.02 | 25.05 | 56.09 | 55.07 | 16.04 | 133 | 128 |
| Interest | 18.03 | 22.05 | 24.06 | 36.08 | 64.20 | 79.14 | 84.20 | 68.17 |
| Depreciation | 156 | 175 | 190 | 316 | 364 | 293 | 271 | 289 |
| Profit before tax | −67.79 | −73.74 | −74.70 | −288 | −396 | −136 | 136 | 229 |
| Tax % | −29.9% | −25.0% | −70.0% | −8.0% | −14.0% | 7.0% | 18.1% | — |
| Exceptional items | 0.00 | 0.00 | 1.99 | −34.93 | 0.99 | −30.91 | −1.99 | −1.99 |
| Net Profit | −47.02 | −56.07 | −23.02 | −265 | −342 | −145 | 113 | 160 |
| EPS (Rs) | −0.67 | −0.73 | −0.29 | −3.18 | −4.08 | −1.74 | 0.99 | 1.43 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 12.04 | 13.03 | 14.05 | 0.03 | 0.11 | 0.11 | 115 |
| Reserves | 1,037 | 1,181 | 1,904 | 3,669 | 3,472 | 3,440 | 5,793 |
| Borrowings | 176 | 191 | 236 | 515 | 732 | 1,048 | 442 |
| Other Liabilities | 2,226 | 3,189 | 4,121 | 5,152 | 5,424 | 6,221 | 6,961 |
| Total Liabilities | 3,451 | 4,574 | 6,274 | 9,335 | 9,627 | 10,708 | 13,310 |
| Fixed Assets | 1,015 | 979 | 1,017 | 2,100 | 1,916 | 1,820 | 1,852 |
| CWIP | 52.02 | 48.08 | 122 | 269 | 222 | 160 | 148 |
| Investments | 40.17 | 34.14 | 50.15 | 18.06 | 21.08 | 30.09 | 28.10 |
| Other Assets | 2,343 | 3,513 | 5,086 | 6,948 | 7,468 | 8,699 | 11,282 |
| Inventories | 3.01 | 4.01 | 12.03 | 40.08 | 28.07 | 30.06 | 32.05 |
| Trade receivables | 214 | 360 | 297 | 590 | 653 | 847 | 1,043 |
| Cash & equivalents | 1,765 | 2,555 | 3,762 | 5,104 | 5,221 | 6,015 | 8,200 |
| Total Assets | 3,451 | 4,574 | 6,274 | 9,335 | 9,627 | 10,708 | 13,310 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 11.03 | 111 | −79.21 | −152 | −230 | 50.13 | 396 |
| Cash from investing activity | 112 | −261 | −444 | −442 | −22.07 | −159 | −1,343 |
| Cash from financing activity | 1,425 | 820 | 1,637 | 1.99 | −219 | −200 | 1,965 |
| Net cash flow | 1,555 | 675 | 1,123 | −592 | −471 | −310 | 1,030 |
| Capex | 167 | 166 | 330 | 366 | 266 | 150 | 238 |
| Free cash flow | −156 | −54.05 | −407 | −517 | −486 | −99.02 | 161 |
| CFO / OP % | 86.0% | 114.0% | −25.0% | −1,258.0% | 872.0% | 5.0% | 112.0% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 91 | 195 | 115 | 134 | 133 | 135 | 139 |
| Inventory days | 4 | 22 | — | 133 | 64 | 37 | 31 |
| Days payable | 143 | 1,344 | — | 1,232 | 907 | 692 | 381 |
| Cash conversion cycle | −46 | −1,125 | 117 | −963 | −707 | −518 | −209 |
| Working capital days | −722 | −1,252 | −1,255 | −813 | −807 | −762 | −609 |
| ROCE % | — | −4.0% | −3.0% | −7.0% | −8.0% | 0.0% | 4.0% |
For the Sep 2026 quarter, Pine Labs reported sales of ₹805 Cr, up 23.9% year on year and net profit of ₹39.04 Cr, up 549.6% year on year. The operating margin was 16.0%.
Pine Labs' sales for the year to Mar 2026 were ₹2,711 Cr; over the last twelve months they were ₹2,987 Cr.
Net profit for the year to Mar 2026 was ₹113 Cr, and ₹160 Cr over the last twelve months. Earnings per share over the same trailing period were ₹1.43.
Pine Labs reported borrowings of ₹442 Cr at Mar 2026, against cash and equivalents of ₹8,200 Cr.
Cash from operations was ₹396 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹161 Cr.