| Revenue growth | 24% YoY, five-quarter high. |
|---|---|
| Margins | Adj EBITDA margin 19% vs 18.8% YoY; employee cost 37%→30% of revenue. |
| Demand visibility | 30% of DCP base now generates flow/GTV revenue. |
| Management confidence | High; confident of sustaining growth into H2. |
Growth
Revenue +24% YoY to ₹806 Cr; DITP +21%, IAP +31%. Contribution margin ₹587 Cr (+18%). Adj EBITDA +27%.
Outlook
ETR to taper ~30% by FY27 exit; ~₹33-34k Cr monthly UPI GTV targeted FY28; ~10 lakh soundboxes over medium term.
Risks
Elevated ETR ~37% from loss-making new entities; UPI MDR rollout deferred pending regulatory clarity; Roblox gift card suspension.
Last quarter's promises, checked
Delivered
- Guided IAP ~25%+ → delivered +31% (= BEAT)
Partly delivered
- Guided FY revenue growth 21-23.5% → Q1 ~20%, Q2 +24% (= PARTIAL, FY open)
- Guided DITP 20-25% → +21% (= PARTIAL, low end)
- Guided meal/expense card by October → employee benefits card listed (= PARTIAL, naming differs)
Missed
- Guided FY adj EBITDA margin not below 23.5% → Q2 19% (= MISS, FY open)
- Guided FY ETR 28-30% → Q2 ~37% (= MISS, FY open)
- Guided NWC ≤15% of revenue → Q1 ~16% (= MISS)
Investor Presentation filed with NSE, NSE: PINELABS. Summary written with AI assistance from the document.
Pine Labs Ltd: key numbers
- Share price
- ₹167.68
- Market cap
- ₹19,363 Cr
- Revenue (annual)
- ₹2,711 Cr
- Net profit (annual)
- ₹112.5 Cr
- P/E (TTM)
- 152.1×Sector 22.9×
- Promoter holding
- 0.00%+0.00% QoQ
- FII holding
- 13.18%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Pine Labs Ltd
All →Pine Labs Q2 FY27 Results: Net Profit ₹38.6 Cr, Up 543.3% YoY
Pine Labs Ltd reported revenue from operations of ₹806.2 Cr (+24.0% YoY) and net profit of ₹38.6 Cr (+543.3% YoY) for Q2 FY27.
- Key figure
- Net profit ₹38.6 Cr · +543.3% YoY
Pine Labs Employee Stock Options
Pine Labs granted 16,37,152 employee stock options under its ESOP 2025 scheme. Options vest over 48 months at exercise prices of Rs 5.40 to Rs 150.06.
Pine Labs Acquisition Worth ₹25 Cr
Pine Labs Limited invested ₹24.9993 Crore in its wholly owned subsidiary, Synergistic Financial Networks Private Limited, via a rights issue subscription.
- Value
- ₹25.00 Cr
Pine Labs Board Meeting Date
Pine Labs Limited scheduled a board meeting on October 29, 2026, to consider financial results, followed by an earnings conference call.
Pine Labs Other Announcement
The company has submitted its quarterly shareholding pattern for the period ended September 30, 2026, in compliance with SEBI Regulation 31(1)(b).
Pine Labs Partnership
Pine Labs and Google Cloud announced a strategic collaboration to advance agentic commerce for Indian SMBs. The partnership leverages Gemini AI for discoverability, payments, and governance.