Pine Labs Limited
Pine Labs Limited, a technology company, provides digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions in India, Malaysia, the United Arab Emirates, Singapore, Australia, the United States, and Africa. It operates through Digital Infrastructure and Transaction Platform, and Issuing and Acquiring Platform segments. The Digital Infrastructure and Transaction Platform segment provides technology platforms under the brand name of Pinelabs, Mosambee, Benow, Setu, Qfix, and Fave to merchants that enables acceptance of instore or online digital payments. These technology platforms and infrastructure allow merchants to accept debit cards, credit cards, prepaid instruments wallets, QR codes, unified payment interface, loyalty points, pay later, online fee collection, etc., as well as provide application programming interface modules to customers for building financial products that facilitates bill payments, credit, and savings to enable purchases made by consumers. It also engages in selling digital checkout points devices. The Issuing and Acquiring Platform segment provides a technology platform to issue, process, and distribute prepaid cards primarily in India and South East Asia. It also monetizes primarily by charging a processing fee from merchants who are utilizing the technology platform and in the case of distribution. The company was incorporated in 1998 and is based in Gurugram, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Apr has averaged the highest return (+24.4%); May the lowest (-26.4%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -4.7%Negative MonthJan 2026: -4.66% | -16.6%Negative MonthFeb 2026: -16.60% | -18.1%Negative MonthMar 2026: -18.15% | +24.4%Positive MonthApr 2026: +24.41% | -26.4%Negative MonthMay 2026: -26.35% | +9.8%Positive MonthJun 2026: +9.77% | -2.4%*Negative MonthJul 2026: -2.39% | β | β | β | β | β |
| 2025 | β | β | β | β | β | β | β | β | β | β | β | -4.1%Negative MonthDec 2025: -4.09% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 2 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ1.60 K Cr | β | βΉ44.00 Cr | β | β | 2.1% | 19.8% | -123.5% |
| Mar 2024 | βΉ1.33 K Cr | β | βΉ-187.00 | β | β | -9.1% | 4.1% | 233.9% |
| Mar 2023 | βΉ1.28 K Cr | β | βΉ-56.00 | β | β | -2.6% | 37.4% | 143.5% |
| Mar 2022 | βΉ932.00 Cr | β | βΉ-23.00 | β | β | -1.2% | 43.4% | -58.9% |
| Mar 2021 | βΉ650.00 Cr | β | βΉ-56.00 | β | β | -4.7% | -2.1% | 69.7% |
| Mar 2020 | βΉ664.00 Cr | β | βΉ-33.00 | β | β | -3.1% | β | β |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Revenue / Net Sales | 664 | 650 | 932 | 1,281 | 1,333 | 1,597 |
| Total Expenses | 606 | 552 | 820 | 1,130 | 1,230 | 1,356 |
| EBIT / Operating Profit | 58 | 98 | 112 | 151 | 104 | 241 |
| OPM % | 9% | 15% | 12% | 12% | 8% | 15% |
| Other Income | 14 | 33 | 25 | 47 | 42 | 98 |
| Finance Costs | 16 | 22 | 24 | 34 | 58 | 70 |
| Depreciation & Amortisation | 102 | 183 | 189 | 239 | 328 | 210 |
| Profit Before Tax | -46 | -74 | -74 | -75 | -240 | 58 |
| Tax % | -27% | -25% | -70% | -25% | -22% | 26% |
| Net Profit / PAT | -33 | -56 | -23 | -56 | -187 | 44 |
| EPS (βΉ) | -2.78 | -4.34 | -1.67 | -4.02 | -2.23 | 0.52 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Peer Comparison
Healthcare sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Pine Labs Limitedthis co. | βΉ24.71 K Cr | βΉ1.60 K Cr | 442.00 | 0.00 | 164.01 | 19.8% |
| Sun Pharmaceutical Industries Ltd. | βΉ4.15 L Cr | βΉ23.00 K Cr | 88.70 | 17.43 | 72.30 | 13.5% |
| Divi's Laboratories Ltd. | βΉ1.71 L Cr | βΉ9.20 K Cr | 67.90 | 11.13 | 67.21 | 20.0% |
| Torrent Pharmaceuticals Ltd. | βΉ1.33 L Cr | βΉ9.68 K Cr | 62.50 | 15.76 | 45.64 | 13.5% |
| Cipla Ltd. | βΉ1.17 L Cr | βΉ19.05 K Cr | 22.50 | 3.51 | 19.33 | 14.9% |
| Apollo Hospitals Enterprises Ltd. | βΉ1.05 L Cr | βΉ8.20 K Cr | 75.00 | 11.28 | 54.44 | 12.8% |
| Max Healthcare Institute Limited | βΉ1.00 L Cr | βΉ2.66 K Cr | 144.00 | 11.76 | 96.84 | 13.8% |
| Industry Average | β | βΉ3.29 K Cr | 98.63 | 8.11 | 65.50 | 20.2% |
