| Management target | Revenue 23.5% FY27 |
|---|
| Revenue growth | 20% YoY in Q1 FY27. |
|---|---|
| Margins | Temporary dip due to cloud/network investments; 73-74% CM target. |
| Order book | 90k-100k OMC terminals deployed; targeting 125k-130k. |
| Demand visibility | Strong merchant demand for digitization and premium UPI experiences. |
| Management confidence | High; reiterating full-year guidance despite front-loaded costs. |
Growth
Revenue grew 20% YoY; International issuing/acquiring segments saw 40%+ growth. Offline UPI transactions now exceed 70%.
Outlook
Full-year revenue growth guided at 21-23.5%. Launching meal and fuel cards by October 2026.
Risks
Higher cloud and network infrastructure costs impacted EBITDA. International segments are currently loss-making but targeting break-even.
Last quarter's promises, checked
Delivered
- Guided 21-23.5% FY27 Revenue Growth → delivered 20.0% in Q1 (= BEAT)
- Guided 74-75% Contribution Margin → delivered 73-74% (= BEAT)
- Guided 55% Incremental EBITDA Flow-through → delivered 50-55% (= BEAT)
Partly delivered
- Guided 21% Q1 Revenue Growth → delivered 20% (= PARTIAL)
Missed
- Guided 130k OMC terminals by FY27 → delivered 90k-100k (= MISS)
Earnings Call Transcript filed with BSE, NSE: PINELABS. Summary written with AI assistance from the document.
Pine Labs Ltd: key numbers
- Share price
- ₹176.57
- Market cap
- ₹20,389 Cr
- Revenue (annual)
- ₹2,711 Cr
- Net profit (annual)
- ₹112.5 Cr
- P/E (TTM)
- 160.2×Sector 22.1×
- Promoter holding
- 0.00%+0.00% QoQ
- FII holding
- 9.49%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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