Fino Paytech Limited Unlisted Shares
About the Company
Fino Paytech Limited, founded on July 13, 2006, and headquartered in Mumbai, India, is a leading financial technology company offering an extensive array of banking and financial services. The company combines innovative technology with a widespread service delivery network to cater to the diverse financial needs of customers across India. With a strong focus on financial inclusion, Fino Paytech has positioned itself as a key player in India’s banking and microfinance sectors.
Fino Paytech’s mission is to bridge the gap between underserved populations and financial services. The company operates through a robust technology-driven platform that serves financial institutions, government bodies, microfinance organizations, and insurance providers. The company aims to provide seamless, accessible, and reliable financial services to customers, particularly in rural areas. Fino Paytech’s integrated business model focuses on customer acquisition, biometric solutions, banking, and insurance products that enhance financial inclusion.
Business Divisions
Fino Paytech operates across multiple business divisions, each focusing on different aspects of the financial ecosystem:
Technology Solutions for Financial Institutions: Fino Paytech offers specialized solutions for banks, microfinance institutions, and insurance companies, including biometric enrollment systems, secure payment solutions, and banking services like current and savings accounts.
Financial Inclusion and Services for Rural Women: The company’s Non-Banking Financial Company (NBFC-ND) is registered with the Reserve Bank of India (RBI), focusing on providing loans to rural women in India through Joint Liability Groups (JLGs). This helps empower women in rural India and fosters economic independence.
Government Sector Partnerships: Fino Paytech works with various government agencies, providing biometric-based solutions for the delivery of social security benefits. It also helps in the efficient distribution of funds for schemes like MNREGA and Rashtriya Swasthya Bima Yojana (RSBY) for Below Poverty Line (BPL) households.
Micro-Insurance Services: In the insurance sector, Fino Paytech partners with organizations to provide affordable health micro-insurance to underserved populations, ensuring access to health services without financial burdens.
Financial Highlights
Fino Paytech’s financial performance over the years highlights its steady growth, particularly in 2024. Here are key financial insights:
Revenue Growth: The company saw a significant increase in revenue from INR 1,149 million in 2023 to INR 1,339 million in 2024, reflecting a strong demand for its services and effective market penetration. This growth is driven by the increasing adoption of financial services in underserved markets.
Improved Profitability: The company’s Profit After Tax (PAT) improved significantly, rising from INR 50 million in 2023 to INR 81 million in 2024. This represents a healthy increase in profitability and reflects the company’s operational efficiency.
Gross Margins: Fino Paytech recorded impressive gross margins of 87.23% in 2024, up from 83.9% in 2023. This indicates the company’s strong control over costs and its ability to maintain high profitability despite rising expenses.
EBITDA Growth: The company turned around its earnings before interest, taxes, depreciation, and amortization (EBITDA), reporting INR 70 million in 2024, up from INR 24 million in 2023. This growth reflects the company’s improved operational performance.
Earnings Per Share (EPS): The company’s EPS increased significantly from 4.79 in 2023 to 7.75 in 2024, signaling enhanced profitability for its shareholders.
Fino Paytech has demonstrated substantial growth and solid financial performance, positioning itself as a leading player in India’s financial services sector. The company’s focus on innovation, financial inclusion, and technology-driven solutions has allowed it to build a strong presence in both urban and rural markets, making it a promising investment for those seeking opportunities in India’s rapidly evolving fintech landscape.
By focusing on growth, profitability, and strategic innovation, Fino Paytech continues to strengthen its position in the market, offering substantial potential for future expansion and success.
Pros
Strong Technology-Driven Approach: Enhances service efficiency and reaches remote areas effectively.
Established Client Relationships: Diverse clients ensure stable revenue streams and long-term growth.
Innovative Financial Products: Addresses underserved communities with micro-loans and health insurance.
Cons
Dependence on Technology Infrastructure: Vulnerable to technical failures, cybersecurity risks, and system disruptions.
Limited Geographic Penetration: Struggles to expand in remote rural areas with limited access to technology.
Key Details
| Metric | Value |
|---|---|
| Market Cap | ₹1,255 Cr |
| P/E Ratio | 15.48× |
| P/B Ratio | 1.71× |
| Debt-to-Equity Ratio | 1.01 |
| Return on Equity (ROE) | 11.16% |
| Book Value/Share | ₹70.35 |
| Earnings Per Share (EPS) | ₹7.75 |
| Face Value | ₹10 |
| Total Outstanding Shares | 10,45,61,541 |
| Particulars | Details |
|---|---|
| Share Name | Fino Paytech Limited (Unlisted) |
| Share Price | ₹120.00 (Per Equity Share) |
| Lot Size | 200 Shares |
| 52 Week High | ₹185 |
| 52 Week Low | ₹128 |
| Depository | NSDL & CDSL |
| PAN Number | AAACF9869M |
| ISIN Number | INE511I01011 |
| CIN | U72900MH2006PLC162656 |
| RTA | Adroit Corporate Services |
Financials
| Particulars | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Revenue | 1,339 | 1,149 | 18 |
| Cost of Material Consumed | 171 | 185 | 11 |
| Gross Margins (%) | 87.23% | 83.90% | 38.89% |
| Change in Inventory | 10 | 3 | 0 |
| Employee Benefit Expenses | 184 | 171 | 4 |
| Other Expenses | 904 | 766 | 216 |
| EBITDA | 70 | 24 | -213 |
| Operating Profit Margin (%) | 5.23% | 2.09% | -1183.33% |
| Other Income | 158 | 142 | 823 |
| Finance Cost | 86 | 54 | 1 |
| Depreciation & Amortization (D&A) | 63 | 50 | 2 |
| EBIT | 7 | -26 | -215 |
| EBIT Margin (%) | 0.52% | -2.26% | -1194.44% |
| Profit Before Tax (PBT) | 80 | 62 | 605 |
| PBT Margin (%) | 5.97% | 5.40% | 3361.11% |
| Tax | -1 | 12 | 82 |
| Profit After Tax (PAT) | 81 | 50 | 523 |
| Net Profit Margin (NPM) | 6.05% | 4.35% | 2905.56% |
| Earnings Per Share (EPS) | ₹7.75 | ₹4.79 | ₹47.81 |
| Ratio | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Operating Margin | 9% | 9% | -20.70% |
| Net Profit Margin | 5% | 4% | -5.06% |
| Return on Equity (ROE) | 11% | 8% | -4.22% |
| Debt-to-Equity Ratio | 1.01 | 0.71 | 0.26 |
| Current Ratio | 1.09 | 1.18 | 1.84 |
| Dividend Payout Ratio | 0% | 786% | -944% |
| Metric | FINO PAYTECH LTD | DIGISPICE TECH LTD | NUCLEUS SOFTWARE LTD |
|---|---|---|---|
| Market Cap (₹ Cr) | ₹1,991 | ₹730 | ₹3,299 |
| Profitability Margin (%) | 5% | 3% | 23% |
| Return on Capital Employed (ROCE) | 2% | 11% | 32% |
| Return on Equity (ROE) | 11% | -4% | 24% |
| Debt-to-Equity Ratio (D/E) | 1.01 | 0.11 | 0.01 |
| Price-to-Earnings (P/E) Ratio | 41.39× | 35.50× | 19.60× |
| Price-to-Book (P/B) Ratio | 2.74× | 2.97× | 4.26× |
| Book Value per Share (₹) | ₹69.24 | ₹10.60 | ₹290 |
| Liabilities | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Share Capital | 104.56 | 104.39 | 109.4 |
| Face Value (₹) | 10 | 10 | 10 |
| Reserves | 621 | 533 | 1,074 |
| Borrowings | 733 | 455 | 1 |
| Trade Payables | 16 | 23 | 23 |
| Other Liabilities | 2,112.44 | 1,504.61 | 21.6 |
| Total Liabilities | 3,587 | 2,620 | 1,229 |
| Assets | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Fixed Assets | 154 | 125 | 4 |
| Capital Work-in-Progress (CWIP) | 47 | 26 | 0 |
| Investments | 1,747 | 1,146 | 421 |
| Trade Receivables | 77 | 72 | 26 |
| Inventory | 32 | 42 | 0 |
| Other Assets | 1,530 | 1,209 | 778 |
| Total Assets | 3,587 | 2,620 | 1,229 |
