PINELABSFinancial Services

Pine Labs Limited

Financial Technology (Fintech) · ISIN INE15B701018 · BSE 544606 · NSE EQ · FV ₹1
Last price
₹184
-0.66%today
What this company does

Pine Labs Limited operates in Financial Technology (Fintech), part of the Financial Services sector. It booked ₹737 cr of revenue in its latest quarter (Q1 FY27) and kept 2.7% of sales as profit. It is the 3rd largest of 9 Financial Technology (Fintech) companies we track, by market value.

40out of 100
Equitytale Health Score
Strained

Healthier than 40% of companies in Financial Services, on the 4 of 6 measures we could read for it. Each measure is ranked against the 54–250 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
60

At close. Not part of the score.

Profitability & returns17

How much profit it earns on the money it employs

Cash quality90

Whether reported profit actually arrives as cash

Valuation9

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: balance sheet, growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
No promoter shares pledged
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 2.7% net margin
! Low 1.3% return on equity

What if I invest in PINELABS?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹184 -0.66%
latest close · 2026-09-17
52-wk low ₹13842 sessions so far52-wk high ₹206
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio271.3High
LowAverageHigh
P/B ratio3.61High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity1.3%Weak
WeakFairStrong ▸15%
Return on capital3.3%Weak
WeakFairStrong
Net margin2.7%Thin
ThinDecentStrong
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.05Comfortable
LowModerateHigh ▸1
Current ratio1.52Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹21,287 cr
Book value
₹51
EPS
₹0.17
latest quarter
Net debt
Enterprise value
EBITDA
EBIT
Operating margin
Return on assets
0.6%
Earnings yield
0.37%
P/S
7.22
Sales / share
₹25.5
Tax rate
48.1%
Face value
₹1
Shares
115.4 cr
Working capital
₹3,700 cr
Current assets
₹10,884 cr
Current liabilities
₹7,184 cr
Delivery %
35.8%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹737 cr
Other Income₹29 cr
Total Income₹766 cr
Cost of Materials₹0 cr
Purchases of Stock-in-Trade₹112 cr
Inventory Change (±)₹-4 cr
Employee Benefit Expense₹268 cr
Finance Costs₹13 cr
Depreciation & Amortisation₹73 cr
Other Expenses₹267 cr
Total Expenses₹728 cr
Profit before Tax₹38 cr
Tax Expense₹18 cr
Net Profit₹20 cr
Net margin on total income2.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹107 cr14.0%
Employee benefit expense₹268 cr34.9%
Finance costs₹13 cr1.7%
Depreciation & amortisation₹73 cr9.6%
Other expenses₹267 cr34.9%
Tax expense₹18 cr2.4%
Profit for the period₹20 cr2.6%
Total income ₹766 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue744 cr701 cr737 cr
Total income780 cr741 cr766 cr
Expenses705 cr682 cr728 cr
Profit before tax63 cr68 cr38 cr
Tax20 cr9 cr18 cr
Net profit (owners' share)42 cr59 cr20 cr
Net margin (owners' share, on revenue)5.7%8.5%2.7%
EPS (₹)0.380.520.17
Balance sheet & cash flow · as of Mar 2026
Debt-free
Total assets
₹13,297 cr
Shareholder equity
₹5,895 cr
parent shareholders
Total debt
₹283 cr
Cash
₹1,393 cr
Cash flow · H1 FY26
Operating
₹3 cr
Investing
₹83 cr
Financing
₹211 cr
Peer comparison
Financial Technology (Fintech) · by market value
CompanyPriceMarket capP/E
One 97 Communications Limited₹1,763₹1.13 L cr128.1
PB Fintech Limited₹1,765₹81,667 cr125.0
Pine Labs Limitedthis company₹184₹21,287 cr271.3
Seshaasai Technologies Limited₹366₹5,920 cr24.5
AvenuesAI Limited₹16₹5,699 cr17.0
Turtlemint Fintech Solutions Limited₹132₹3,878 cr
Network People Services Technologies Limited₹1,855₹3,869 cr88.2
One Mobikwik Systems Limited₹199₹1,564 cr51.2
Suvidhaa Infoserve Limited₹2₹46 cr
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
FII / Foreign
9.5%
DII / Domestic
24.8%
Retail / others
65.7%
Smart-money activity
Insider trades
SoldSaurabh Sharma · -8,995 · ₹21.5 L31 Dec 25
SoldShankar Balan · -29,117 · ₹69.5 L31 Dec 25
SoldAnand Kuppuswamy · -95,000 · ₹2.3 cr31 Dec 25
Bulk / block deals
short · NSE50016 Sep 26
SoldQE SECURITIES LLP · NSE59.21 L @ ₹184.2216 Sep 26
BoughtQE SECURITIES LLP · NSE58.57 L @ ₹183.9616 Sep 26
Stake changes
BoughtSBI Mutual fund under its Various Schemes→ 7.41% · 1.51 cr27 May 26
BoughtSBI Mutual Fund under its Various Schemes→ 7.40% · 1.51 cr27 May 26
BoughtSBI Mutual fund under its Various Schemes→ 5.01% · 2.40 L23 Feb 26
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 13 Feb 2026
See the official result
1
Ratification and Amendment of the Pine Labs Employee Stock Option Plan 2025 (“ESOP Scheme”) of the Company
Backed by 87% of shareholders other than promotersneeded 75%
87.32 cr votes for, 12.58 cr against · 27% of mutual funds and other big investors said no
2
Ratification of the extension of the benefits of Pine Labs Employee Stock Option Plan 2025 (ESOP Scheme) to the employees of subsidiary companies of the Company
Backed by 87% of shareholders other than promotersneeded 75%
87.37 cr votes for, 12.58 cr against · 27% of mutual funds and other big investors said no
3
Appointment of Secretarial Auditor
Backed by 100% of shareholders other than promotersneeded 50%
99.97 cr votes for, 17,914 against · 0% of mutual funds and other big investors said no
4
Creation of charges, mortgages, hypothecation on the immovable and movable properties of the Company under Section 180(1)(a) of the Companies Act, 2013
Backed by 100% of shareholders other than promotersneeded 75%
99.96 cr votes for, 19,471 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.