Pine Labs Limited Q2 FY26 results deck summary

Results deck of 3 Dec 2025, summarised by AI from the filing.

Pine Labs Q2 FY26 revenue ₹650 cr (+18% YoY), adjusted EBITDA ₹122 cr (+62% YoY) at 19% margin, and profit after tax ₹6 cr versus a ₹32 cr loss.

Key takeaways

1. Margin guidance Management expects adjusted EBITDA margin expansion to be sustainable alongside the growth trajectory as scalable, tech-led businesses compound.
2. Biggest change Second consecutive PAT-positive quarter, with profit after tax swinging by ₹38 cr YoY from a loss of ₹32 cr to a profit of ₹6 cr.
3. Growth driver Issuing, VAS, Affordability and Online businesses are growing 30%+ YoY and now contribute about 60% of revenues.
4. Main risk The deliberate shift to capex-light software deals has lower absolute revenue per deployment, which naturally moderates reported topline growth.

Original filing on BSE

Pine Labs Limited Q1 FY27 results

As filed: Revenue ₹737 cr, EBITDA ₹94.9 cr, PAT ₹19.6 cr, EBITDA margin 12.9%.

Not scored. No consolidated results for the same quarter last year to compare yet (consolidated revenue ₹737 cr). Scored once a year-earlier consolidated quarter exists.

Earlier results and the share price after them

• Q4 FY26: Revenue ₹701 cr, EBITDA ₹106 cr, PAT ₹59.4 cr, EBITDA margin 15.2%. Not scored. No consolidated results for the same quarter last year to compare yet (consolidated revenue ₹701 cr). Scored once a year-earlier consolidated quarter exists. Share price after the results: +10.3% in 30 days (Nifty 500: +0.9%).
• Q3 FY26: Revenue ₹744 cr, EBITDA ₹132 cr, PAT ₹42.4 cr, EBITDA margin 17.7%. Not scored. No consolidated results for the same quarter last year to compare yet (consolidated revenue ₹744 cr). Scored once a year-earlier consolidated quarter exists. Share price after the results: −15.9% in 30 days (Nifty 500: +1.5%).
• Q2 FY26: Revenue ₹650 cr, EBITDA ₹75.0 cr, PAT ₹6.0 cr, EBITDA margin 11.5%. Not scored. No consolidated results for the same quarter last year to compare yet (consolidated revenue ₹650 cr). Scored once a year-earlier consolidated quarter exists. Share price after the results: −4.9% in 30 days (Nifty 500: +1.6%).

Past price moves after results do not indicate future moves. Not a recommendation.

Pine Labs Limited earnings call, investor presentation and press release summaries

• Q1 FY27: Earnings call (29 Jul 2026), Results deck (28 Jul 2026)
• Q4 FY26: Earnings call (26 May 2026), Results deck (25 May 2026)
• Q3 FY26: Earnings call (28 Jan 2026), Results deck (28 Jan 2026)
• Q2 FY26: Earnings call (3 Dec 2025), Results deck (3 Dec 2025)
• Other events: Strategy deck (16 Jun 2026)