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Provides point-of-sale payment terminals and merchant commerce software for retailers across India and Southeast Asia.
Provides point-of-sale payment terminals and merchant commerce software for retailers across India and Southeast Asia.
Earns a small fee on payments flowing through its terminals and online gateway, plus charges for terminal rental and software and fees on gift-card and pay-later programmes it runs for brands and lenders, so volume processed matters more than the terminal count.
In one line: India's Square/Verifone.
Moat: narrow (installed base, switching costs). Large installed base of POS terminals and merchant integrations create switching costs.
Headquarters: Noida, India · Founded: 1998 · Employees: 5,007
Size Pine Labs (PINELABS.NS) is an India Information Technology company (Packaged Software) with a market value of $1.98B, the 372nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹162.45 on 6 Nov 2026.
Performance Over six months the shares fell 19.4%, against -6.0% for the median peer and 0.0% for the India market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 49.5% over the last twelve months (peer median +9.6%); the operating margin is 7.0% (peer median -0.5%).
Valuation It trades at 79.2× forward earnings against a peer median of 27.2× (7th most expensive of 17).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹29.9B | ₹26.9B | ₹22.7B | ₹10.3B | ₹10.6B |
| Revenue growth | — | +18% | +121% | -3% | — |
| Gross profit | ₹8.50B | ₹6.81B | ₹4.53B | -₹2.42B | -₹1.08B |
| EBITDA | ₹4.96B | ₹3.48B | ₹2.57B | -₹1.85B | -₹355M |
| Net income | ₹1.60B | ₹1.13B | -₹1.45B | -₹1.87B | -₹562M |
| Free cash flow | n/a | ₹7.37B | ₹5.40B | ₹2.24B | ₹1.64B |
| Capital expenditure | n/a | ₹2.38B | ₹1.50B | ₹2.22B | ₹3.41B |
| Total debt | ₹3.53B | ₹4.41B | ₹9.70B | ₹5.75B | ₹3.90B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Pine Labs PINELABS.NS | $1.98B | -19% | +50% | 7% | 79.2× | n/a |
| One 97 Communications PAYTM.NS | $12.2B | +50% | +24% | 2% | 94.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PINELABS.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.6% | +8.4% | 5th lowest of 21 |
| 6-month return | -19.4% | -6.0% | 6th lowest of 21 |
| Distance from 52-week high | -42.8% | -33.5% | 7th lowest of 21 |
| Revenue growth (TTM) | +49.5% | +9.6% | 2nd highest of 21 |
| Operating margin | 7.0% | -0.5% | 7th highest of 21 |
| Forward P/E | 79.2× | 27.2× | 7th most expensive of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Pine Labs PINELABS.NS | India | $1.98B | -19% | +50% | 7% | 79.2× | n/a | n/a |
| iReader Technology 603533.SS | China | $1.98B | +20% | +14% | -2% | 91.2× | 37.2% | +9.5% |
| Tianyu Digital Technology 002354.SZ | China | $2.00B | +31% | +8% | -2% | 135.3× | 25.9% | +15.8% |
| Aisino 600271.SS | China | $1.96B | -16% | -12% | -24% | 26.2× | n/a | n/a |
| Justsystems 4686.T | Japan | $2.01B | +33% | +10% | 44% | n/a | -6.3% | +4.6% |
| Ourpalm 300315.SZ | China | $1.96B | -3% | -5% | -65% | 125.6× | 55.8% | -17.0% |
| Zhejiang Jinke Tom Culture Industry 300459.SZ | China | $2.01B | -9% | -10% | -108% | n/a | 43.2% | -12.5% |
| Karooooo KARO | United States | $1.95B | +25% | +32% | 25% | 24.1× | 10.4% | +17.7% |
| Planisware Societe anonyme PLNW.PA | France | $1.94B | +46% | +8% | 31% | 28.2× | 12.3% | +16.8% |
| Pony AI 2026.HK | Hong Kong | $1.93B | -56% | +67% | -214% | n/a | n/a | n/a |
| Mobvista Incorporation 1860.HK | Hong Kong | $2.05B | -43% | +26% | 4% | 19.6× | -1.1% | +31.9% |
| Zhejiang Digital Culture Technology 600633.SS | China | $2.06B | -15% | +14% | 10% | 20.8× | 15.4% | -2.8% |
| UCloud Technology 688158.SS | China | $2.08B | -34% | +26% | 2% | 499.0× | n/a | n/a |
| Embracer EMBRAC-B.ST | Sweden | $2.08B | +37% | -31% | -43% | 16.4× | -9.8% | +12.0% |
| China TransInfo Technology 002373.SZ | China | $1.89B | -11% | +16% | 1% | 39.7× | 22.0% | -2.7% |
| iFAST AIY.SI | Singapore | $1.89B | -10% | +35% | 24% | 18.6× | -11.6% | +24.8% |
| Amplitude AMPL | United States | $2.09B | +161% | +18% | -27% | 109.2× | 36.9% | +27.4% |
| Business-Intelligence of Oriental Nations 300166.SZ | China | $1.88B | -27% | +7% | -5% | 94.1× | n/a | n/a |
| Five9 FIVN | United States | $2.10B | +27% | +9% | 6% | 8.1× | 17.9% | +21.4% |
| Pitney Bowes PBI | United States | $2.11B | -1% | -4% | 25% | 9.6× | -5.4% | -11.8% |
| Shenzhen Intellifusion Technologies 688343.SS | China | $1.87B | -46% | -4% | -52% | n/a | n/a | n/a |