# Pine Labs (PINELABS) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/pinelabs

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹162.48
- Change: +0.53%
- As of: 2026-11-06
- 1D return: +0.53%
- 5D return: +6.02%
- 1M return: -4.31%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

PINELABS (₹162.48) exhibits a conflicting technical structure as of November 6, 2026. The daily trend is weak and bearish, with the price trading below the Supertrend, 50-day EMA, and 200-day SMA. Daily momentum indicators show low conviction (ADX 11.95), and moving averages are sloping downward. However, the stock remains above its 20-day EMA and SMA, suggesting short-term resilience within a broader downtrend. On higher timeframes, the weekly and monthly trends remain bullish, with the price holding above the weekly and monthly Supertrends. This divergence suggests the current daily weakness may be a correction within a longer-term uptrend. Price action is near the lower end of the 252-day range (+18.6% from low) and mid-range of the 20-day period (+50.8%). Recent anomalies include a wide intraday range on October 30 (-6.7% return) and high participation without clear direction on October 29. Key support lies at ₹161.83 (pivot) and ₹159.06 (low), while resistance is immediate at ₹164.39. A break below ₹159.06 could invalidate the weekly bullish structure, whereas a sustained move above ₹164.72 would signal renewed daily strength.

- Trend Divergence: Daily trend is bearish (price below Supertrend, 50/200 SMAs) with weak momentum (ADX 11.95), but weekly and monthly trends remain bullish (price above Supertrends).
- Price Positioning: Trading at ₹162.48, near the lower end of the yearly range (+18.6% from low) and middle of the 20-day range (+50.8%).
- Key Levels: Immediate support at ₹161.83 (pivot) and ₹159.06 (low); immediate resistance at ₹164.39 and ₹164.72.
- Risk Context: High volatility (annualized +49.9%) and significant drawdown (-35.2% current, -45.0% max). Recent wide intraday range on Oct 30 indicates elevated uncertainty.

- Outside Bar
- Harami
- Inside Bar
- Doji

### Official Filings

Pine Labs Limited reported unaudited consolidated financial results for Q2 FY2027 (ended September 30, 2026), showing strong top-line and bottom-line growth. Revenue from operations rose 24% year-on-year to ₹806.19 crore, while Profit After Tax (PAT) surged 546% to ₹38.57 crore. Adjusted EBITDA reached ₹215.5 crore with a margin of 19.2%. The company also disclosed the acquisition of Shopflo Technologies Private Limited for ₹88.00 crore cash consideration. Additionally, the Board approved an ESOP grant of 16,37,152 options to employees.

- {'metric': 'Revenue Growth', 'significance': 'Top-line expansion driven by Digital Infrastructure and Transaction Platform (DITP) revenue growth of 24% to ₹587 Cr.', 'value': '₹806.19 Cr (+24% YoY)'}
- {'metric': 'Profitability Surge', 'significance': 'Significant profit increase supported by operating leverage and a moderating effective tax rate; Adjusted EBITDA margin expanded to 19.2%.', 'value': 'PAT ₹38.57 Cr (+546% YoY)'}
- {'metric': 'Cash Position & Operations', 'significance': 'Operating cash flow improved two-fold YoY, indicating strong cash generation capabilities alongside a robust net cash balance.', 'value': 'Operating Cash Flow ₹350 Cr; Net Cash ₹2,234.5 Cr'}
- {'metric': 'Strategic Acquisition', 'significance': 'Acquisition of 100% stake in Shopflo Technologies, consolidated from May 26, 2026, signaling continued investment in business capabilities.', 'value': 'Shopflo Technologies for ₹88.00 Cr'}

- [Pine Labs Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/PINELABS_04112026152112_EarningsCallTranscript.pdf)
- [Pine Labs Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/PINELABS_30102026112400_NewspaperPublicationPdf.pdf)
- [Pine Labs Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/PINELABS_29102026131002_Final_signed.pdf)
- [Pine Labs Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/PINELABS_29102026132509_Investor_presentation.pdf)
- [Pine Labs Limited has informed the Exchange regarding a press release dated October 29, 2026, titled "Q2 FY27 Performance". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/PINELABS_29102026132211_Final_signed.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748597_29102026013403_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748593_29102026013340_WEB.xml)
- [Monitoring Agency Report for the quarter ended September 30, 2026 |SUBJECT: Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/PINELABS_29102026174741_MAReport_SE_signed.pdf)
- [Pine Labs Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/PINELABS_29102026220826_4AudioVideo.pdf)
- [Pine Labs Limited has informed the Exchange regarding Grant of 1637152 Options. |SUBJECT: ESOP/ESOS/ESPS](https://nsearchives.nseindia.com/corporate/PINELABS_28102026163026_IntimationESOPGrant28Oct2026.pdf)

### Fundamentals

Pine Labs demonstrates a clear trajectory toward operational profitability and balance-sheet strengthening as of Q2 FY2026-27. Revenue rose sequentially to ₹806 crore, with Net Profit nearly doubling to ₹38.6 crore and EPS increasing to ₹0.33 per share. This marks a significant turnaround from the loss-making position in Sep 2024 (Net Profit: -₹32.0 crore). The company’s cash generation has improved markedly, with Cash from Operating Activity reaching ₹395.0 crore for Mar 2026, up from ₹50.0 crore in Mar 2025.

Financial health has also strengthened. Borrowings declined steadily from ₹1,046.0 crore in Mar 2025 to ₹353.0 crore by Sep 2026, while Equity Capital surged from ₹0.1 crore to ₹115.0 crore over the same period, reflecting substantial capital infusion or retained earnings growth. Total Assets grew to ₹14,083 crore as of Sep 2026, supported by a cash balance increase to ₹1,349 crore. However, investors should monitor the rising interest costs, which increased to ₹14.2 crore in Q2 FY2026-27, and the slight uptick in Debtor Days to 140 days in Mar 2026, which may indicate slower collections despite overall efficiency gains shown by a reduced Cash Conversion Cycle.

- Q2 FY2026-27 Net Profit reached ₹38.6 crore (EPS: ₹0.33), a strong sequential recovery from ₹19.6 crore in Q1 and a reversal from losses in prior periods.
- Borrowings fell significantly to ₹353.0 crore by Sep 2026 from ₹1,046.0 crore in Mar 2025, while Cash from Operations improved to ₹395.0 crore in Mar 2026.
- Total Assets expanded to ₹14,083 crore as of Sep 2026, with Cash and Equivalents more than doubling to ₹1,349 crore, indicating enhanced liquidity.
- Interest expenses rose to ₹14.2 crore in Q2 FY2026-27, and Debtor Days increased to 140 days in Mar 2026, warranting monitoring of working capital efficiency.

### Bear Case

Pine Labs (PINELABS) exhibits significant near-term technical weakness and substantial historical drawdowns, presenting a cautious backdrop for investors. As of November 6, 2026, the stock closed at ₹162.48, reflecting a year-to-date decline of -30.9% and a since-start return of -35.2%. The daily trend is bearish, with the SuperTrend indicator signaling downside pressure and moving averages (20-day EMA and SMA) showing negative slopes over the last five periods (-1.57 and -2.98, respectively). While the monthly trend remains bullish, the immediate daily momentum suggests consolidation or further correction.

Volatility remains elevated, with an annualized volatility of +49.9% and an Average True Range (ATR) of 5.02%, indicating wide price swings that increase execution risk. The stock is currently trading 35.2% below its peak, having experienced a maximum drawdown of -45.0%. Support levels are closely tested, with the nearest pivot support at ₹161.83 (0.40% below current price), offering minimal buffer against further declines. Resistance lies slightly higher at ₹164.39 (1.18% above), suggesting limited upside room in the short term without a shift in daily momentum.

- Daily trend is bearish as of 2026-11-06, with SuperTrend direction down and both 20-day EMA (-1.57) and SMA (-2.98) slopes negative over the last five periods.
- Stock has declined -30.9% year-to-date and -35.2% since listing start, trading at a close of ₹162.48 with high annualized volatility (+49.9%).
- Immediate support is thin at ₹161.83 (pivot), only 0.40% below the current price, while resistance is nearby at ₹164.39 (1.18% above).
- Maximum drawdown stands at -45.0%, indicating severe past downside risk; weekly trend remains bullish but daily momentum is weak.

- [Engineers India, GAIL, Zensar, Motherson Sumi Wiring, Delhivery shares: Target prices](https://www.businesstoday.in/markets/stocks/story/engineers-india-gail-zensar-motherson-sumi-wiring-delhivery-shares-target-prices-565274-2026-11-03)
- [Pine Labs Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/PINELABS_04112026152112_EarningsCallTranscript.pdf)
- [Pine Labs Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/PINELABS_30102026112400_NewspaperPublicationPdf.pdf)
- [Pine Labs Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/PINELABS_29102026131002_Final_signed.pdf)
- [Pine Labs Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/PINELABS_29102026132509_Investor_presentation.pdf)
- [Pine Labs Limited has informed the Exchange regarding a press release dated October 29, 2026, titled "Q2 FY27 Performance". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/PINELABS_29102026132211_Final_signed.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748597_29102026013403_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748593_29102026013340_WEB.xml)
- [Monitoring Agency Report for the quarter ended September 30, 2026 |SUBJECT: Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/PINELABS_29102026174741_MAReport_SE_signed.pdf)
- [Pine Labs Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/PINELABS_29102026220826_4AudioVideo.pdf)

### FAQs

**What were Pine Labs' key financial results for Q2 FY27?**

For the quarter ended September 30, 2026, Pine Labs reported unaudited consolidated revenue from operations of ₹806.19 crore (up 24% YoY) and adjusted EBITDA of ₹215.5 crore with a 19.2% margin. Profit after tax surged 546% YoY to ₹38.57 crore, driven by operating leverage and a moderating effective tax rate. Operating cash flow improved 2x YoY to ₹350 crore.

**How is Pine Labs planning to expand its merchant infrastructure?**

Management disclosed a plan to deploy approximately 10 lakh additional soundboxes to capture UPI transactions at existing merchant locations. This strategy was highlighted during the Q2 FY27 earnings call transcript filed on November 4, 2026, alongside updates on new product launches such as Agentic Commerce and Stablecoin prepaid cards.

**What recent corporate actions and acquisitions has Pine Labs undertaken?**

The Group completed the acquisition of 100% of Shopflo Technologies Private Limited for ₹88.00 crore in cash consideration, consolidated from May 26, 2026. Additionally, the trading window for designated persons and their immediate relatives was scheduled to reopen on November 2, 2026, following the Board's approval of quarterly results on October 29, 2026.

**What is the current technical price structure for PINELABS shares?**

As of November 6, 2026, the stock closed at ₹162.48 with a market capitalization of approximately ₹18,650 crore. Daily trends show bearish momentum with resistance near ₹164.39 and support at ₹161.83. However, the monthly trend remains bullish. The stock has experienced a year-to-date return of -30.9% and a maximum drawdown of -45.0%.

- [Engineers India, GAIL, Zensar, Motherson Sumi Wiring, Delhivery shares: Target prices](https://www.businesstoday.in/markets/stocks/story/engineers-india-gail-zensar-motherson-sumi-wiring-delhivery-shares-target-prices-565274-2026-11-03)
- [Pine Labs Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/PINELABS_04112026152112_EarningsCallTranscript.pdf)
- [Pine Labs Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/PINELABS_30102026112400_NewspaperPublicationPdf.pdf)
- [Pine Labs Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/PINELABS_29102026131002_Final_signed.pdf)
- [Pine Labs Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/PINELABS_29102026132509_Investor_presentation.pdf)
- [Pine Labs Limited has informed the Exchange regarding a press release dated October 29, 2026, titled "Q2 FY27 Performance". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/PINELABS_29102026132211_Final_signed.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748597_29102026013403_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748593_29102026013340_WEB.xml)
- [Monitoring Agency Report for the quarter ended September 30, 2026 |SUBJECT: Monitoring Agency Report](https://nsearchives.nseindia.com/corporate/PINELABS_29102026174741_MAReport_SE_signed.pdf)
- [Pine Labs Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/PINELABS_29102026220826_4AudioVideo.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Weak Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹161.83
- Risk regime: Higher Price Risk

### Support levels
- 155.08781249999998
- 150.85
- 148.05

### Resistance levels
- 164.7225
- 172.1125
- 174.8

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.53% |
| return_10 | +5.12% |
| return_1m | -5.93% |
| return_20 | -4.31% |
| return_3m | +4.13% |
| return_5 | +6.02% |
| return_6m | -18.41% |
| return_since_start | -35.24% |
| return_ytd | -30.89% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -45.02% |
| annualized_volatility | +49.92% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Pine Labs Limited Q2 FY2026-27: Revenue grows 24% year on year

Pine Labs reported revenue from operations of ₹806.2 crore for the quarter ended 30 September 2026, up 24.0% year on year and 9.4% sequentially. Profit for the period rose to ₹38.6 crore from ₹6.0 crore a year earlier, while operating cash flow was ₹191.3 crore. Current borrowings fell to ₹183.3 crore at quarter-end from ₹282.3 crore at 31 March 2026.

## Revenue and expenses

Revenue from operations increased by ₹69.3 crore from ₹736.9 crore in Q1 FY2026-27. Total income rose to ₹831.7 crore from ₹765.9 crore in the previous quarter and ₹672.9 crore in Q2 FY2025-26; Q2 FY2026-27 included ₹25.6 crore of other income.

Total expenses were ₹770.4 crore, up 5.8% sequentially and 16.4% year on year, below the respective growth rates in revenue. Profit before tax was ₹61.4 crore, compared with ₹37.7 crore in Q1 FY2026-27 and ₹11.2 crore in Q2 FY2025-26.

## Profitability and per-share results

Profit for the period from continuing operations was ₹38.6 crore, nearly double the ₹19.6 crore reported in Q1 FY2026-27 and up from ₹6.0 crore in Q2 FY2025-26. Tax expense increased to ₹22.8 crore from ₹18.2 crore sequentially.

Basic and diluted earnings per share were ₹0.33, compared with ₹0.17 in Q1 FY2026-27 and ₹0.06 in Q2 FY2025-26. Finance costs were ₹14.2 crore, up from ₹12.8 crore sequentially, while depreciation and amortisation expense was ₹75.9 crore.

## Cash flow and liquidity

Cash flow from operating activities was ₹191.3 crore. Investing activities used ₹101.1 crore and financing activities used ₹33.6 crore; reported free cash flow was ₹90.2 crore. Cash and cash equivalents on the cash flow statement stood at ₹1,330.5 crore at 30 September 2026.

The balance sheet reported cash and cash equivalents of ₹1,348.7 crore and bank balances other than cash and cash equivalents of ₹7,191.4 crore. Current borrowings declined to ₹183.3 crore from ₹282.3 crore at 31 March 2026 and ₹707.4 crore at 30 September 2025.

## Receivables, inventory and assets

Current trade receivables were ₹1,187.8 crore at 30 September 2026, up from ₹1,042.1 crore at 31 March 2026 and ₹982.7 crore at 30 September 2025. Inventory increased to ₹55.5 crore from ₹31.9 crore at 31 March 2026. Current trade payables stood at ₹501.1 crore, compared with ₹383.1 crore at the previous financial year-end.

Goodwill was ₹1,237.6 crore, up from ₹1,177.7 crore at 31 March 2026. Intangible assets under development increased to ₹198.7 crore from ₹107.5 crore over the same period.

## Key Takeaway

Q2 FY2026-27 combined faster year-on-year revenue growth with a marked increase in profit and positive operating and free cash flow. Lower current borrowings were a further balance-sheet improvement, while rising receivables and inventory are important working-capital movements to monitor alongside continued growth.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +0.00%
- FII holding: +9.49%
- DII holding: +24.82%
- Mutual fund holding: +21.25%
- Retail holding: +6.73%
- Promoter pledged: +0.00%

### Major reported shareholders

- PEAK XV PARTNERS PINE INVESTMENT HOLDINGS — +16.73%
- SBI MUTUAL FUND - Through its various schemes — +7.97%
- MACRITCHIE INVESTMENTS PTE. LTD. — +5.77%
- PAYPAL PTE. LTD — +4.94%
- MASTERCARD ASIA/PACIFIC PTE. LTD. — +4.31%
- FRANKLIN INDIA MUTUAL FUND - Through its various schemes — +3.37%
- ALPHA WAVE VENTURES II , LP — +3.11%
- BAIRAVARASU AMRISH RAU — +2.29%
- NIPPON LIFE INDIA MUTUAL FUND - Through its various schemes — +2.05%
- ACT EQUITY HOLDINGS PTE LTD — +1.85%

## Official filings

- 2026-11-04 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_04112026152112_EarningsCallTranscript.pdf)
- 2026-10-30 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_30102026112400_NewspaperPublicationPdf.pdf)
- 2026-10-29 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_29102026131002_Final_signed.pdf)
- 2026-10-29 — Earnings Presentation: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_29102026132509_Investor_presentation.pdf)
- 2026-10-29 — Press Release: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_29102026132211_Final_signed.pdf)
- 2026-10-29 — Financial Results Filing: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748597_29102026013403_WEB.xml)
- 2026-10-29 — Financial Results Filing: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748593_29102026013340_WEB.xml)
- 2026-10-29 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_29102026174741_MAReport_SE_signed.pdf)
- 2026-10-29 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_29102026220826_4AudioVideo.pdf)
- 2026-10-28 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_28102026163026_IntimationESOPGrant28Oct2026.pdf)
- 2026-10-21 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_26410_WebXMLFile_20261021_172027400.xml)
- 2026-10-21 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_21102026171907_SFNPL_Intimation_PLL_Acquisition_Oct_2026.pdf)
- 2026-10-21 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/REG30_Restructuring_26410_WebXMLFile_20261021_180855825.xml)
- 2026-10-19 — Board Meeting Notice: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_19102026165315_BM_prior_intimation.pdf)
- 2026-10-19 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_19102026165947_BM_prior_intimation.pdf)
- 2026-10-19 — Board Meeting Notice: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_26410_WebXMLFile_20261019_171318505.xml)
- 2026-10-19 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_26410_WebXMLFile_20261019_171318505.xml)
- 2026-10-19 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_26410_WebXMLFile_20261019_171504734.xml)
- 2026-10-14 — Shareholding Disclosure: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1737372_14102026103557_WEB.xml)
- 2026-10-13 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_13102026124827_Reg745Intimation.pdf)
- 2026-10-05 — Annual Report: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/annual_reports/AR_32134_PINELABS_2025_2026_A_7083803_06102026104412.pdf)
- 2026-09-29 — Press Release: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_29092026111658_PR_PLL_Woolworths.pdf)
- 2026-09-28 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_28092026171246_TWC.pdf)
- 2026-09-28 — Generic Announcement: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_26410_WebXMLFile_20260928_171631352.xml)
- 2026-09-24 — Press Release: Pine Labs Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/PINELABS_24092026103059_PR_PLL.pdf)

## News and market events

- 2026-11-03 — BUSINESSTODAY: **Engineers India, GAIL, Zensar, Motherson Sumi Wiring, Delhivery shares: Target prices** — Brokerages have issued rating updates for a dozen stocks, including Engineers India, GAIL, Zensar Technologies, Motherson Sumi Wiring, and Delhivery, following September quarter results. Analysts have upgraded Delhivery to 'Buy' with a target price of Rs 490 and Engineers India to 'Accumulate' at Rs 338, while downgrading Zensar Technologies to 'Add' with a target of Rs 614. — [Source](https://www.businesstoday.in/markets/stocks/story/engineers-india-gail-zensar-motherson-sumi-wiring-delhivery-shares-target-prices-565274-2026-11-03)
- 2026-10-30 — MONEYCONTROL: **Buy Pine Labs; target of Rs 220: Emkay Global Financial** — Emkay Global Financial has issued a 'Buy' recommendation for Pine Labs with a price target of Rs 220. This analyst note suggests potential upside for the stock based on the firm's assessment. — [Source](https://www.moneycontrol.com/news/business/stocks/buy-pine-labs-target-of-rs-220-emkay-global-financial-14064246.html)
- 2026-10-30 — CNBC-TV18: **Pine Labs maintains FY27 growth outlook as UPI scales** — Pine Labs reaffirmed its FY27 revenue growth guidance of 23-23.5% and adjusted margin guidance of approximately 21%, driven by strong festive season demand and continued expansion in Unified Payments Interface (UPI) transaction volumes. — [Source](https://www.cnbctv18.com/market/earnings/pine-labs-q2-profit-fy27-revenue-guidance-upi-scales-earnings-results-boardroom-festive-season-fintech-alpha-article-20023011.htm)
- 2026-10-30 — Economic Times: **Rising tech costs drive EMI sales; Shadowfax Q2 profit soars** — Logistics and payments firms Shadowfax, BlackBuck, and Pine Labs reported strong Q2 FY27 financial results, with Shadowfax's net profit jumping fivefold, BlackBuck's rising 42%, and Pine Labs' surging over six-fold. — [Source](https://economictimes.indiatimes.com/tech/newsletters/morning-dispatch/rising-tech-costs-drive-emi-sales-shadowfax-q2-profit-soars/articleshow/135338461.cms)
- 2026-10-29 — MONEYCONTROL: **Pine Labs Q2 results: Net profit rises 84% to nearly Rs 39 crore; shares up over 6%** — Pine Labs Q2 results: Net profit rises 84% to nearly Rs 39 crore; shares up over 6% Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio Platforms Share Price Kiren Rijiju MLC Election Results Moon Rise Time Today Silver Price Nagpur MLC Election Result Amazon Layoffs US Fed Rates Varanasi MLC Polls News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price Per — [Source](https://www.moneycontrol.com/news/business/markets/pine-labs-q2-results-net-profit-rises-84-to-nearly-rs-39-crore-shares-up-over-6-14063430.html)
- 2026-10-29 — MONEYCONTROL: **Pine Labs revenue grows 24% in September quarter to Rs 806 crore, net profit grows 6x** — Pine Labs revenue grows 24% in September quarter to Rs 806 crore, net profit grows 6x Follow Us On: Stocks: A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Others Trending Topics more Sensex Today Jio Platforms Share Price Kiren Rijiju MLC Election Results Moon Rise Time Today Silver Price Nagpur MLC Election Result Amazon Layoffs US Fed Rates Varanasi MLC Polls News more Business Markets Stocks India News City News Economy Mutual Funds Personal Finance IPO News Startups Markets more Home Currencies Commodities Pre-Market IPO Global Market US Markets Bonds Silver MCX Price Gold MCX Price P — [Source](https://www.moneycontrol.com/news/technology/pine-labs-revenue-grows-24-in-september-quarter-to-rs-806-crore-net-profit-grows-6x-14063411.html)
- 2026-10-29 — CNBC-TV18: **Pine Labs Q2 Results: Revenue growth hits five-quarter high at 24%; EBITDA rises 67%** — Pine Labs processes approximately 25 million transactions a day across its businesses, up around 22% year-on-year, according to the company statement. — [Source](https://www.cnbctv18.com/market/pine-labs-q2-results-revenue-growth-hits-five-quarter-high-ebitda-rises-share-price-reaction-20022342.htm)
- 2026-10-29 — Mint: **Top stocks to watch today: Jio Platforms, IndiGo, Coal India, Meesho shares in focus on Thursday, 29 Oct | Full list** — Top stocks to watch today: Jio Platforms, Coal India, IndiGo, Trent, Meesho, Hero Motocorp among shares in focus on Thursday. — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-to-watch-today-jio-platforms-indigo-coal-india-meesho-shares-in-focus-on-thursday-29-oct-full-list-11793236670600.html)
- 2026-10-27 — CNBC-TV18: **Markets may stabilise in coming months; Paytm, defence stocks among top picks: Marketsmith India** — Marketsmith India's Mayuresh Joshi expects Paytm to benefit from proposed MDR changes, saying they could improve revenue growth, margins and cash flows. He also sees Pine Labs gaining from the policy. What could MDR mean for India's payment companies? — [Source](https://www.cnbctv18.com/market/mayuresh-joshi-paytm-solar-industries-zen-technologies-market-analysts-crude-oil-prices-geopolitical-tensions-defence-stocks-alpha-article-20020008.htm)
- 2026-10-21 — CNBC-TV18: **Stocks to Watch for October 22: M&M Fin, Indian Hotels, Bharat Electronics, Eternal and more** — From KEI Industries and Indian Hotels reporting their Q2 results to the Ministry of Defence signing a ₹770 crore contract with Bharat Electronics (BEL), here are the stocks to track ahead of Thursday’s trading session. — [Source](https://www.cnbctv18.com/photos/market/stocks-to-watch-for-october-22-mm-fin-indian-hotels-bharat-electronics-eternal-and-more-20016209.htm)
- 2026-10-13 — BUSINESSTODAY: **Paytm, Pine Labs, One Mobikwik shares rebound after up to 6% fall; UPI MDR rollout post Diwali** — Paytm share price, Pine Labs share price, One Mobikwik share rpice, MDR — [Source](https://www.businesstoday.in/markets/stocks/story/paytm-pine-labs-one-mobikwik-shares-rebound-after-up-to-6-fall-upi-mdr-rollout-post-diwali-561252-2026-10-13)
- 2026-10-08 — BUSINESSTODAY: **Paytm, One Mobikwik, Pine Labs, AvenuesAI shares tumble up to 10% today; here's why** — Paytm share price, Paytm shares, paytm news, Mobikwik share price, Mobikwik shares, Pine Labs shares, PineLabs share price — [Source](https://www.businesstoday.in/markets/stocks/story/paytm-one-mobikwik-pine-labs-avenuesai-shares-tumble-up-to-10-today-heres-why-560287-2026-10-08)
- 2026-09-30 — DECCANCHRONICLE.COM: **Apple Pay Launches in India in Collaboration With Axis Bank** — Apple devices users will be able to make payment at stores, in apps, and on the web without the need to type in PINs or use OTPs at checkout, the company said — [Source](https://www.deccanchronicle.com/technology/apple-pay-launches-in-india-in-collaboration-with-axis-bank-1991860)
- 2026-09-30 — MONEYCONTROL: **Apple Pay taps India’s payment companies to reach millions of merchants at launch** — Fintech, Apple, payments, Apple Pay, iPhone, tap and pay, India launch, digital payments, credit cards — [Source](https://www.moneycontrol.com/technology/apple-pay-taps-india-s-payment-companies-to-reach-millions-of-merchants-at-launch-article-14041774.html)
- 2026-09-30 — MONEYCONTROL: **Apple Pay launches in India after years of global rollout, Axis Bank first partner** — Apple, Apple Pay, Apple Axis, Apple Payments, UPI — [Source](https://www.moneycontrol.com/technology/apple-pay-launches-in-india-after-years-of-global-rollout-axis-bank-first-partner-article-14041279.html)
- 2026-09-29 — BUSINESS: **Benchmarks tumble for 2nd day; consumer durables shares plunge** — Consumer durables, realty and IT shares declined while metal, pharma and media shares advanced. — [Source](https://www.business-standard.com/markets/capital-market-news/benchmarks-tumble-for-2nd-day-consumer-durables-shares-plunge-126092900741_1.html)
- 2026-09-29 — BUSINESS: **Pine Labs extends tech partnership with Woolworths Group** — Pine Labs said that the company has extended its technology partnership with Woolworths Group for their gift card ecosystem through enhanced platform capabilities, deeper API integrations, and support for new digital stored-value experiences. — [Source](https://www.business-standard.com/markets/capital-market-news/pine-labs-extends-tech-partnership-with-woolworths-group-126092900600_1.html)
- 2026-09-29 — BUSINESSTODAY: **Who is Chirantan 'CJ' Desai, Meta's pick to lead its enterprise AI push** — Chirantan CJ Desai, Chirantan Desai Meta, Meta Enterprise Platform, Meta AI, Mark Zuckerberg, CJ Desai MongoDB, CJ Desai ServiceNow, CJ Desai Cloudflare, Meta enterprise AI, Meta business AI — [Source](https://www.businesstoday.in/technology/story/who-is-chirantan-cj-desai-metas-pick-to-lead-its-enterprise-ai-push-558518-2026-09-29)
- 2026-09-29 — BUSINESSTODAY: **Cement prices rise by Rs 7 per bag in September; more hikes expected in October: Report** — Cement makers, Cement prices, cement price hikes, cement prices, Centrum Broking,ban on construction — [Source](https://www.businesstoday.in/markets/stocks/story/cement-prices-rise-rs-7-per-bag-in-september-more-hikes-expected-in-october-report-558517-2026-09-29)
- 2026-09-29 — BUSINESSTODAY: **No social media for under 18s? Centre mulls new safeguards after SC raises concern** — social media ban, social media ban under 18, social media ban india, social media regulations, child safety, under 18 users, Indian law, intermediary rules, digital platforms, age verification, parental consent, minors online protection, legal safeguards, social media contracts — [Source](https://www.businesstoday.in/india/story/no-social-media-for-under-18s-centre-mulls-new-safeguards-after-sc-raises-concern-558513-2026-09-29)
- 2026-09-29 — BUSINESSTODAY: **Pine Labs (NSE:PINELABS) drops 3%; firm extends partnership with Woolworths Group** — Pine Labs shares, Pine Labs Ltd, Woolworths Group, Qwikcilver, Pine Labs technology partnership, gift cards, payments technology, digital commerce, fintech — [Source](https://www.businesstoday.in/markets/stocks/story/pine-labs-drops-3-firm-extends-partnership-with-woolworths-group-558492-2026-09-29)
- 2026-09-29 — BUSINESS: **Pine Labs extends technology partnership with Woolworths Group** — To support Woolworths' ongoing modernization of gift card infrastructure — [Source](https://www.business-standard.com/markets/capital-market-news/pine-labs-extends-technology-partnership-with-woolworths-group-126092900479_1.html)
- 2026-09-29 — FREEPRESSJOURNAL.IN: **Pine Labs Extends Woolworths Group Partnership For Five Years** — Pine Labs has extended its technology partnership with Woolworths Group for another five years. — [Source](https://www.freepressjournal.in/business/pine-labs-extends-woolworths-group-partnership-for-five-years)
- 2026-09-28 — The Hindu: **Why Indian startups flipped for more than two decades** — Explains why Indian startups flipped their holding structures overseas, and why many are now reverse-flipping back to India. — [Source](https://www.thehindubusinessline.com/specials/emerging-entrepreneurs/why-indian-startups-flipped-for-more-than-two-decades/article71517174.ece)
- 2026-09-27 — MONEYCONTROL: **Broader markets underperform, extend losing streak to third week** — Midcap,Smallcap,Broader indices,Market this week,midcap this week,smallcap this week — [Source](https://www.moneycontrol.com/news/business/markets/broader-markets-underperform-extend-losing-streak-to-third-week-14039106.html)

## Business profile

**Strategic vision:** Provides payment and merchant commerce solutions for businesses.

### Business segments
- **In-store Payments:** Provides end-to-end solutions for in-store retail growth, enabling merchants to accept various payment modes with speed and safety.
- **Online Payments:** Offers solutions for online commerce including payment gateways, payouts, and affordability options through an intuitive dashboard and APIs.
- **Prepaid Solutions:** Provides a full-stack platform for issuing, processing, and distributing brand currencies and purpose-specific prepaid solutions globally.
- **Credit Processing:** Offers seamless card issuance and processing services, including transaction routing, merchant management, and co-branded credit card programs.
- **Fintech Infrastructure:** Provides foundational fintech infrastructure solutions such as bill payment solutions, identity services, and recurring payment capabilities.

### Competitive strengths
- Comprehensive suite of payment and merchant commerce solutions
- Integrated platform for in-store and online payments
- Full-stack prepaid and credit processing capabilities
- Foundational fintech infrastructure offerings

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## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/pinelabs
Markdown representation: https://faxioms.com/stocks/pinelabs?render=md