Latest news about Pine Labs
Citi and UBS Maintain Buy Ratings on Pine Labs, Highlight Revenue CAGR and Margin Expansion Prospects
Pine Labs
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More news about Pine Labs
16Jun 26
Pine Labs Addresses Media Claims About Breakage Income Impact, Calls Reports Speculative and Incorrect
Pine Labs has formally refuted media claims suggesting that breakage income has impacted its financial performance, labeling such reports as speculative and incorrect. The company explicitly stated that breakage has not affected its revenue or profitability. The clarification reflects Pine Labs' commitment to transparency and accurate disclosure to its stakeholders.
12Jun 26
Pine Labs completes 100% acquisition of Shopflo Technologies
Pine Labs has completed the acquisition of a 100% stake in Shopflo Technologies Private Limited. The transaction was finalized on June 10, 2026, making Shopflo a wholly owned subsidiary of Pine Labs.
12Jun 26
Pine Labs launches P3P, India's first agentic payment protocol built on UPI
Pine Labs has introduced P3P, India's first agentic payment protocol built on UPI, allowing AI agents to complete transactions autonomously without human authentication. The protocol extends UPI's mandate framework, integrating with Grantex for security and auditability, and is currently live with partners like Gullak and Vijay Sales. This initiative positions India at the forefront of the agentic commerce wave, with Pine Labs planning to expand the protocol to card networks.
04Jun 26
Pine Labs schedules Investor and Analyst Day on June 16
Pine Labs has scheduled an Investor and Analyst Day for June 16, 2026, at the Grand Hyatt in Mumbai. The physical meeting, set from 11 A.M. to 4 P.M., allows management to engage with analysts and institutional investors. The event is conducted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
02Jun 26
Pine Labs reports 19% revenue growth, FY2027 guidance at 21-23.5%
Pine Labs disclosed its FY2026 financial results via an earnings call transcript, revealing a 19% increase in revenue and an adjusted EBITDA of ₹559 crore. The company achieved a PAT of ₹113 crore and generated ₹395 crore in operating cash flow for the year. Management issued a revenue growth guidance of 21% to 23.5% for FY2027, driven by expansion in online payments and international markets, alongside significant investments in AI technology.
29May 26
Jefferies Maintains Buy on Pine Labs, Slashes Target Price to Rs 185 from Rs 260 After Q4 Miss
Jefferies maintained its Buy rating on Pine Labs while cutting the target price to Rs 185 from Rs 260 after Q4 core earnings missed estimates. Revenue grew 17% YoY with a 73% contribution margin, and adjusted EBITDA margin improved to 21% on lower opex growth and one-time gains, lifting profit to Rs 585 mn. Stronger cash flows were highlighted as a key positive. Management guided for revenue growth to accelerate to 20%+ from Q1 and 21-23% in FY27, driven by POS deployment, issuing, and affordability revenues.
27May 26
Pine Labs posts first full-year profit of ₹113 crore in FY26
Pine Labs Limited reported its first full-year net profit of ₹113 crore for FY26, reversing a ₹145 crore loss in the previous year, while revenue grew 19% to ₹2,711 crore. Operating cash flow surged eight-fold to ₹395 crore, driven by a strong working capital cycle. The Board approved the audited results on May 25, 2026, with the statutory auditor issuing an unmodified opinion.
27May 26
Pine Labs Records ₹599.56 Crore Block Trade on NSE at ₹135.65 Per Share
A block trade worth ₹599.56 crore was recorded on the NSE for Pine Labs, involving approximately 44198998 shares at ₹135.65 per share. The transaction highlights significant large-scale activity in the stock, indicative of institutional-level participation. Block trades of this size are typically executed to facilitate large transfers of shares with minimal disruption to the open market.
13May 26
Pine Labs Enters Philippines Market with GCash for Business
Pine Labs Limited has partnered with GCash for Business to enter the Philippines market, integrating advanced point-of-sale software and Value-Added Services. The collaboration targets MSMEs, offering instalment payment plans, rewards, and multi-modal digital payment acceptance. Both companies aim to build a robust fintech ecosystem to enable digital payments for millions of merchants.
07May 26
Pine Labs Limited Schedules Board Meeting and Q4 FY26 Earnings Conference Call
Pine Labs Limited has scheduled a Board of Directors meeting on May 25, 2026, to approve audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. An Investors/Analysts Conference Call is set for May 26, 2026, at 8:00 A.M. IST, with investor relations queries directed to Ritesh Khetan at investorrelations@pinelabs.com.
25Apr 26
Pine Labs Acquires Shopflo Technologies for ₹88 Crore to Build Unified Commerce Platform
Pine Labs Limited has announced the acquisition of 100% stake in Shopflo Technologies Private Limited for up to ₹88 crore through a cash transaction expected to complete within three months. The strategic acquisition aims to create a full-stack payments and commerce platform, combining Pine Labs' payment infrastructure with Shopflo's direct-to-consumer checkout optimization technology. Shopflo, incorporated in 2021, has shown strong growth with turnover increasing from ₹6.33 million in Mar 2023 to ₹147.35 million in Mar 2025, and serves over 1000 e-commerce brands with 15-20% conversion rate improvements.
15Apr 26
Citi Initiates Buy Rating on Pine Labs with Target Price ₹235
Citi has initiated coverage on Pine Labs with a Buy rating and target price of ₹235, highlighting the company's strong leadership in merchant payments and improving monetization in India's fintech sector. The brokerage cited limited disruption risk due to profitability focus, rising regulatory barriers, sticky enterprise integrations, and stable competitive positioning as key factors supporting the positive outlook.
08Apr 26
JPMorgan Initiates Neutral Rating on Pine Labs with ₹165 Target Price
JPMorgan has initiated neutral coverage on Pine Labs with a ₹165 target price, recognizing the company's strong position in the growing digital payments market with TAM expanding at 23-25% CAGR. The firm operates an extensive network of 0.9 million merchants, 650+ brands, and 160+ institutions. While EBITDA margins are expected to improve to ~27% by FY28 through affordability and operating leverage, moderating ecosystem growth may limit revenue CAGR to ~17%, though adjusted EBITDA is projected to grow at ~34% CAGR during FY26-28.
07Apr 26
Pine Labs President & Chief Business Officer Navin Chandani Resigns Effective April 2026
Pine Labs Limited announced the resignation of President & Chief Business Officer Navin Ashokkumar Chandani, effective April 06, 2026. Chandani submitted his resignation letter on February 14, 2026, citing his decision to pursue career opportunities outside the company. The disclosure was made in full compliance with SEBI regulations, with proper notifications sent to BSE and NSE exchanges.
07Apr 26
Pine Labs Limited Receives Quarterly Compliance Certificate for Q4FY26
Pine Labs Limited has successfully filed its quarterly compliance certificate for Q4FY26 under SEBI Regulation 74(5), with registrar KFin Technologies confirming the regulation's non-applicability due to complete share dematerialisation. The certificate validates that all company shares remain in digital form with zero rematerialisation requests during the quarter ended March 31, 2026.
28Mar 26
Pine Labs Receives ₹3.10 Lakh RBI Penalty for PPI KYC Violations
Pine Labs Limited has been fined ₹3,10,000 by the Reserve Bank of India for violations in Prepaid Payment Instruments KYC procedures. The penalty was imposed after RBI found that the company had issued certain Full-KYC PPIs without completing proper Know Your Customer verification. Pine Labs received the penalty order on March 27, 2026, and has informed stock exchanges as per regulatory requirements, stating no material impact on company operations or financials.
28Mar 26
Pine Labs Initiates Voluntary Strike-Off of Inactive Subsidiary Mopay Services Private Limited
Pine Labs Limited has initiated voluntary strike-off proceedings for its wholly owned subsidiary Mopay Services Private Limited (MSPL) under Section 248 of the Companies Act, 2013. The inactive subsidiary recorded nil turnover and negative net worth of Rs. 29,000 in FY 2024-25. The strike-off process, expected to take 2-3 months, aims to streamline group structure and reduce compliance overheads without material impact on Pine Labs' operations.
23Mar 26
Jefferies Maintains Buy Rating on Pine Labs, Cuts Target Price to Rs 260
Jefferies maintains its Buy rating on Pine Labs while cutting the target price to Rs 260 from Rs 300. The brokerage expects ~20% revenue growth and EBITDA margin expansion through operating leverage, network expansion, faster loan origination, and new segments. However, the stock faces near-term pressure with 20-30% YTD decline and sensitivity to lower contribution impacting adjusted EBITDA by ~9-6%.
17Mar 26
Pine Labs schedules one-on-one investor meetings in Hong Kong for March 23-24, 2026
Pine Labs Limited has scheduled one-on-one investor meetings for March 23-24, 2026 in Hong Kong, as announced in a regulatory filing dated March 17, 2026. The physical meetings will be conducted without disclosure of any unpublished price sensitive information, ensuring regulatory compliance. Meeting details are available on the company's investor relations website.
25Feb 26
SBI Mutual Fund Acquires 5.0147% Stake in Pine Labs, Triggers SEBI Disclosure Requirements
SBI Mutual Fund crossed the 5% shareholding threshold in Pine Labs Limited after acquiring 2,40,000 shares on February 23, 2026, through market purchase. The acquisition increased the fund's total holding to 5,75,82,504 shares, representing 5.0147% of Pine Labs' paid-up share capital. This transaction triggered mandatory disclosure requirements under SEBI regulations, with formal notification submitted to Pine Labs and both stock exchanges on February 24, 2026.
23Feb 26
Pine Labs Secures Multi-Year Digital Payment Contracts with BPCL, HPCL, and IOCL
Pine Labs has won landmark multi-year contracts with India's three leading Oil Marketing Companies - BPCL, HPCL, and IOCL - to deploy and manage 130,000 digital payment devices across petrol pumps nationwide. The company will also manage IOCL's XTRAPOWER loyalty platform serving fleet operators, demonstrating its expanded capabilities in digital payment infrastructure and customer engagement solutions.
17Feb 26
Pine Labs Shareholders Approve ESOP Plan and Key Corporate Resolutions via Postal Ballot
Pine Labs Limited successfully completed its postal ballot process on February 17, 2026, with shareholders approving four key resolutions through remote e-voting. The ESOP Plan 2025 ratification received 87.40% approval, while the extension of ESOP benefits to subsidiary employees garnered 87.41% support. The appointment of secretarial auditor and creation of charges on company properties both achieved overwhelming 99.99% approval rates, demonstrating strong shareholder confidence in the company's governance initiatives.
30Jan 26
Pine Labs Invests ₹128.99 Crore In Subsidiary SFNPL Through Rights Issue
Pine Labs Limited has invested ₹128.99 crore in its wholly owned subsidiary Synergistic Financial Networks Private Limited through a rights issue subscription. The transaction involved acquiring 2,57,330 equity shares while maintaining complete ownership, with the investment aimed at meeting working capital requirements and pursuing growth opportunities in the financial technology segment.
28Jan 26
Pine Labs submits Q3FY26 monitoring report showing ₹610.76 crore IPO proceeds utilization
Pine Labs Limited submitted its Q3FY26 monitoring agency report showing ₹610.76 crore utilization from its ₹2,080.00 crore IPO proceeds. The company completed debt repayment of ₹532.00 crore and utilized ₹78.76 crore for IPO expenses. The remaining ₹1,469.24 crore is invested in fixed deposits with major banks earning 5.25% to 6.40% returns. Funds for IT investments, subsidiary expansion, and general corporate purposes remain unutilized, indicating a measured deployment approach.
28Jan 26
Pine Labs Partners with Pan Asia Bank to Deploy Credit Card Management Platform in Sri Lanka
Pine Labs Limited has partnered with Pan Asia Banking Corporation to deploy its Credit+ platform for comprehensive credit card management in Sri Lanka. The API-first, cloud-native system will handle the complete card lifecycle including issuance, activation, billing, processing, and settlement while integrating seamlessly with existing banking infrastructure. This marks Pine Labs' second major banking partnership in Sri Lanka within recent months, strengthening its regional presence as banks embrace modern alternatives to legacy card systems.
28Jan 26
Pine Labs Reports Strong Q3 Turnaround with ₹420 Million Net Profit
Pine Labs reported consolidated net profit of ₹420 million in Q3, representing a dramatic turnaround from ₹570 million loss in the same quarter previous year. The ₹990 million improvement demonstrates significant operational recovery and enhanced financial performance, positioning the fintech company strongly for continued growth.
26Jan 26
Pine Labs Partners with UAE's Wio Bank to Modernise Merchant Acquiring Infrastructure
Pine Labs Limited has formed a strategic partnership with UAE's Wio Bank to modernise merchant acquiring infrastructure using the Credit+ platform. The collaboration will enable faster merchant onboarding, real-time settlements, and seamless payment acceptance through cloud-native, microservices-based technology. This partnership supports the UAE's transition toward a cashless economy and strengthens both companies' positions in the Middle East's digital banking sector.
23Jan 26
Pine Labs Invests ₹63.99 Crores in Wholly Owned Subsidiary BrokenTusk Technologies
Pine Labs Limited invested ₹63.99 crores in wholly owned subsidiary BrokenTusk Technologies Private Limited through rights issue on January 23, 2026. The cash investment acquired 4.83 crore equity shares while maintaining 100% ownership. BTPL, a fintech company providing payment solutions through APIs, has shown strong growth with turnover rising from ₹14.24 crores in 2023 to ₹66.62 crores in 2025. The investment supports working capital needs and growth opportunities.
20Jan 26
Pine Labs Limited Schedules Board Meeting and Earnings Call for Q3FY26 Results on January 28, 2026
Pine Labs Limited has scheduled its Board of Directors meeting for January 28, 2026, to approve Q3FY26 unaudited financial results for the quarter and nine months ended December 31, 2025. The company will also conduct an investors and analysts conference call at 6:00 P.M. IST on the same day via video conference to discuss the financial performance. This announcement was made in compliance with SEBI regulations, with details communicated to BSE and NSE on January 20, 2026.
20Jan 26
RBI Approves Setu's Complete Acquisition of Agya Technologies as NBFC-AA
The Reserve Bank of India has approved Setu's full acquisition of Agya Technologies, with the target company receiving official recognition as a Non-Banking Financial Company - Account Aggregator (NBFC-AA). The regulatory clearance enables the transaction to proceed to closing, representing a strategic consolidation in India's fintech sector. The deal positions Setu to expand its presence in the account aggregation space through complete ownership of the newly classified NBFC-AA entity.
24Dec 25
Jefferies Initiates Coverage on Pine Labs with ₹300 Target; Sees 28% Upside Potential
Jefferies has initiated coverage on Pine Labs with a 'buy' rating and ₹300 price target, citing 28.50% upside potential. The brokerage projects 23% revenue CAGR over FY25-28 and expects EBITDA margins to expand from 15% to 27%. Pine Labs holds dominant market positions with 70-75% share in closed-loop cards and 90-95% in EMI at physical stores, positioning it well to capitalize on India's expanding digital commerce ecosystem.
24Dec 25
Jefferies Initiates Buy Rating on Pine Labs with Target Price of ₹300
Investment firm Jefferies has initiated coverage on Pine Labs with a Buy rating and a target price of ₹300.00 per share. This positive recommendation suggests Jefferies views Pine Labs favorably within the fintech sector and expects the stock to outperform.
23Dec 25
Morgan Stanley Initiates Pine Labs Coverage with Equal-Weight Rating and ₹260 Price Target
Morgan Stanley has begun research coverage on Pine Labs Limited, a prominent Indian fintech company. The global investment bank assigned an 'Equal-weight' rating to Pine Labs' stock with a price target of ₹260.00. This neutral stance suggests the stock is expected to perform in line with market or sector benchmarks. The coverage initiation by Morgan Stanley is significant for Pine Labs, potentially increasing institutional investor interest and market visibility.
17Dec 25
Pine Labs Board Approves Secretarial Auditors Appointment and Postal Ballot Resolutions
Pine Labs Limited announced key board decisions from its December 17, 2025 meeting, including the appointment of M/s. Makarand M. Joshi Co. as secretarial auditors for a five-year term and approval of postal ballot resolutions covering ESOP scheme amendments, subsidiary employee benefits, and property charge creation, all subject to shareholder approval under SEBI regulatory compliance.
09Dec 25
Pine Labs' Setu Expands Digital Payment Capabilities with AI Integration
Pine Labs' subsidiary Setu has integrated its bill payment services with AI platforms ChatGPT and Claude. The new feature offers a conversational interface for bill payments, making the process more intuitive and user-friendly. This integration aims to simplify bill payments, increase digital payment adoption, and enhance user engagement through interactive experiences. Setu, a brand of Broken Tusk Technologies Private Limited, is wholly owned by Pine Labs Limited and specializes in API-enabled technology platforms for digital public infrastructure solutions.
09Dec 25
Pine Labs Reports Record Q2 FY26 Results with 18% Revenue Growth and Second Consecutive Profitable Quarter
Pine Labs, a global fintech platform, has announced strong financial results for Q2 FY26. The company's net revenue increased by 18% year-over-year to ₹650 crores. Adjusted EBITDA grew by 64% to ₹122 crores, and the company turned profitable with a PAT of ₹6 crores. Pine Labs processed nearly ₹50 billion in Gross Transaction Value, served 1.9 million touchpoints, and surpassed 1 million merchants. The results highlight Pine Labs' expanding market presence and operational efficiency in the fintech sector.
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