Pine Labs

June 29 (Reuters) - Pine Labs Ltd PINL.NS:

• PINE LABS - INVESTS ABOUT 250 MILLION RUPEES IN UNIT VIA RIGHTS ISSUE

Source text: ID:nBSE2wqHrj

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** Shares of Pine Labs PINL.NS fall as much as 4.6%, last down 1.5% at 151.3 rupees

** Co's high-margin gift card "breakage" revenue faces regulatory threat, a report by media outlet Entrackr says

** Qwikcilver, a major unit of the fintech firm, derives ~90% of its revenue through its gift card business; breakage income from unredeemed balances flows "almost directly to bottom line" - Entrackr report

** On April 22, India's RBI proposed that outstanding balances on expired/inactive prepaid instruments be transferred back to source/verified accounts

** Proposal directly impacts margins of co and could have a disproportionate effect on profitability, Entrackr says

** Co says the report is misleading and incorrect, and that breakage is not material to revenue or profit, in a filing with the exchanges

** Adds that it does not foresee impact from RBI's guidance on breakage income

** YTD, stock down ~37%

(Reporting by Mridula Kumar in Bengaluru)

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June 11 (Reuters) - Pine Labs Ltd PINL.NS:

• PINE LABS - LAUNCHES P3P, INDIA'S FIRST AGENTIC PAYMENT PROTOCOL ON UPI

• PINE LABS - GULLAK GOES LIVE ON PINE LABS P3P AGENTIC PAYMENT PROTOCOL

Source text: ID:nBSE7GhZnM

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** Shares of fintech firm Pine Labs PINL.NS rise 1.3% to 148 rupees

** Company posts quarterly profit on digital payment boost, a turnaround from a loss last year

** Analysts expect PINL to report a 21% increase in FY27 revenue, while earnings per share are projected to more than double, according to data compiled by LSEG

** Pine Labs trades at forward 12-month PE of 55.46 vs industry median of 19.10

** Four of six brokerages rate the stock "buy" or higher; their median PT is 250 rupees

** Analysts at Jefferies say company's acquisition of Shopflo to strengthen check-out, customer analytics and order management offerings in the online D2C segment

** YTD, stock down 38.9% vs 3.9% decline in Nifty 500 Index .NIFTY500

(Reporting by Abhinav Parmar in Bengaluru)

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May 25 (Reuters) - Indian fintech firm Pine Labs PINL.NS posted a fourth-quarter profit on Monday, as a continued shift to digital payments drove demand.

The Temasek and Peak XV-backed company posted a profit of 593.6 million rupees ($6.23 million) for the quarter ended March 31, compared with a loss of 289.1 million rupees a year earlier.

($1 = 95.2300 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Harikrishnan Nair)

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May 12 (Reuters) - Pine Labs Ltd PINL.NS:

• PINE LABS LTD - ENTERS PHILIPPINES MARKET WITH GCASH FOR BUSINESS AS FIRST PAYMENTS PARTNER

Source text: ID:nBSE3p2ds2

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** Emkay Global upgrades Indian fintech firm Pine Labs PINL.NS to "buy" from "reduce", maintains PT of 225 rupees

** Brokerage says working capital-related concerns are already factored into the stock price and believes PINL can lower its requirements by using bill discounting

** While devices business to show calibrated rev growth over long term, operationalisation contracts with oil marketing companies to drive slightly higher revenue growth from Q1 - Emkay

** Adds, PINL continues to see strong growth in issuing and acquiring businesses led by traction in international markets

** Avg rating of five analysts on PINL at "hold"; median PT is 255 rupees - LSEG-compiled data

** Stock up nearly 1% at 195.25 rupees; YTD down 18.4% vs rival Paytm's PAYT.NS nearly 10% decline

(Reporting by Kashish Tandon in Bengaluru)

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** Shares of Indian fintech platform Pine Labs PINL.NS jump as much as 4.98%, last up 2.72% at 182.39 rupees

** Citi initiates coverage with "buy", PT of 235 rupees, citing improving monetisation in India's payments sector and co's strength in merchant payments, prepaid solutions

** Citi expects co's growth to be driven by affordability solutions, value-added payment services and international expansion

** Forecasts revenue to grow at CAGR of ~17% and EBITDA to rise roughly 49% over FY26–FY28

** PINL rated "hold" on average by five analysts, median PT 255 rupees - LSEG data

** Stock down ~28% since listing on November 14, 2025; YTD, PINL drops 26%

(Reporting by Bipasha Dey in Bengaluru)

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April 8 (Reuters) - ** Shares of Pine Labs PINL.NS jump almost 9.5% to 171.36 rupees

** J.P.Morgan initiates coverage with "neutral", PT of 165 rupees

** Cites large and growing total addressable market, expects revenues to grow at 17% CAGR over FY26-28

** Adds, co's core profit driver likely to shift from device-led growth to value-added services, as card and affordability adoption rises in the premium-end of retail market

** Trading volume at 1.37 mln shares, vs 30-day average of 1.28 mln

** PINL rated "hold" on average by five analysts, median PT: 255 rupees - data compiled by LSEG

** YTD, stock down about 28%

(Reporting by Bipasha Dey in Bengaluru)

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March 27 (Reuters) -

• INDIA CENBANK: IMPOSES MONETARY PENALTY OF 310,000 RUPEES ON PINE LABS

• RBI: IMPOSES PENALTY ON PINE LABS FOR NON-COMPLIANCE WITH CERTAIN PROVISIONS OF DIRECTIONS ON PREPAID PAYMENT INSTRUMENTS

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** Shares of Pine Labs PINL.NS up 2.8% at 179.5 rupees

** UBS initiates coverage on fintech platform with "Buy" and a target price of 250 rupees, implying an upside of 43% from stock's last close

** Brokerage says Pine Labs maintains a strong large-enterprise franchise with a durable moat driven by scale and deep integration with banks, OEMs, and merchants

** UBS says as Pine Labs' point-of-sale business has transitioned from hyper growth to industry aligned growth, its focus has shifted to monetising existing base

** Adds incremental growth to come from EMI financing and deeper penetration into non-electronics consumer categories

** Estimates revenue growth to sustain at an estimated ~20% CAGR over FY2026–FY2028, and says the current ~45% valuation discount to Paytm looks unjustified given Pine Labs' stronger profitability and improving earnings quality

** YTD, stock down 25%

(Reporting by Mridula Kumar in Bengaluru)

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By Ashwin Manikandan and Jaspreet Kalra

MUMBAI, March 2 (Reuters) - Pine Labs PINL.NS will launch a stablecoin-backed prepaid card across nine countries in the Middle East, Africa and Southeast Asia by the end of April, the fintech firm's chief executive told Reuters, marking the first attempt by an Indian payments major to tap the fast‑growing market.

The Temasek and Peak XV-backed company aims to launch in countries that have a "stablecoin-friendly stance", Amrish Rau said in an interview on Friday, without specifying which countries they would launch in.

Pine Labs does not plan to launch the product in India or China, Rau said.

The prepaid card, funded with stablecoins from consumers' digital wallets, will enable payments in local currencies through real-time conversion at the point of sale, the CEO said.

Global payment firms Stripe, PayPal PYPL.O and Klarna KLAR.N are already using stablecoins to facilitate cross-border payments as the instruments gain wider acceptance in emerging markets, topping $310 billion in market value, led by U.S. dollar-pegged tokens Tether and USDC.

“Cross‑border payments potentially are getting replaced today by stablecoins... these are very real trends which are taking off globally and we are absolutely building for it,” Pine Labs' Rau said.

The firm's plan to launch the stablecoin-backed prepaid card, the first such initiative by a listed Indian firm, has not been reported previously.

While India does not prohibit stablecoins, the local central bank has cautioned the instruments could weaken monetary policy management and promote illegal payments. Indian banks and payments firms such as Walmart-backed PhonePe PHOP.NS and Paytm PAYT.NS do not offer stablecoin-backed payments.

China last month banned unauthorised offshore issuance of yuan-pegged stablecoins and is cracking down on virtual currencies.

TECH-FOCUSED APPROACH

Headquartered in India's national capital region, Pine Labs offers payment solutions including point-of-sale machines to merchants for card payments.

The fintech firm's shares have fallen about 28% since their trading debut in November amid increased competition in the digital payments sector, according to analysts.

Pine Labs has been expanding its footprint with clients in about 20 countries, with the overseas business adding up to about 17% of its revenue, Rau said. The firm's gross revenue rose 24% on year to 7.44 billion rupees ($81.4 million) in the December quarter.

The firm seeks to focus on AI-based payments, cross-border expansion and stablecoin experiments, Rau said.

“All tech companies are into stablecoins, they are into AI, they are into cross‑border. That’s the way to go... If you don’t capture that opportunity, Indian fintechs are going to get left behind."

($1 = 91.4300 Indian rupees)

(Reporting by Ashwin Manikandan and Jaspreet Kalra in Mumbai; Editing by Mrigank Dhaniwala)

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Feb 23 (Reuters) - Pine Labs Ltd PINL.NS:

• PINE LABS AWARDED MULTI-YEAR CONTRACTS BY 3 INDIAN OMCS

• CONTRACTS FROM BPCL, HPCL, AND IOCL

Source text: ID:nnAZN4SHR2B

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Feb 5 (Reuters) - Pine Labs Ltd PINL.NS:

• PINE LABS LTD - GETS TOTAL TAX DEMAND FOR 373.3 MILLION RUPEES

Source text: ID:nNSE1jRSLz

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Jan 28 (Reuters) - Pine Labs Ltd PINL.NS:

• PINE LABS Q3 CONSOL PROFIT 423.9 MILLION RUPEES

• PINE LABS Q3 CONSOL REVENUE FROM OPERATIONS 7.44 BILLION RUPEES

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Jan 26 (Reuters) - Pine Labs Ltd PINL.NS:

• PINE LABS LTD - WIO BANK PARTNERS WITH CO

Source text: ID:nNSE8nvkP

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Jan 23 (Reuters) - Pine Labs Ltd PINL.NS:

• PINE LABS LTD - INVESTS 639.9 MILLION RUPEES IN BROKENTUSK TECHNOLOGIES

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Jan 20 (Reuters) - Pine Labs Ltd PINL.NS:

• RBI APPROVES UNIT SETU'S PROPOSAL TO BUY 100% STAKE IN AGYA TECHNOLOGIES

Source text: ID:nNSE1sJSMy

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