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Fino Payments Bank Q2 FY27 Share Price & Earnings Call Analysis

₹122.98+1.09% today
Market cap
₹1,030 Cr
P/E
42.12
ROE
6.76%
PEG
-6.06
Price to sales
3.97
Debt to equity
4.86
52W high / low
₹318 / ₹112
Sales growth (5Y)
65.07%
EBITDA margin
-396.00%
Net profit margin
21.14%
Promoter holding
75.00%
Sales (last year)
₹259 Cr

Fino Payments bank commenced banking operations in 2017 as a specialised payments bank. It provides deposit, payment and also transaction banking services to underserved and underbanked customers, including low-income households, gig workers and rural communities. Operations follow a phygital model, combining merchant-led assisted banking with digital channels viz FinoPay. Core offerings include CASA accounts, cash management services, domestic money transfer, AePS/Micro ATM, UPI and mobile banking; loans, fixed deposits and insurance distributed through partner arrangements[1][2]

Guidance scorecard · Q2 FY27 call

What Fino Payments Bank Ltd's management guided
and where it ranks in Banks

#27of 28 in
Banks
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookFlat

RevenueQ1 FY27 call

10–20%
  • B2B CMS segment throughput grew 26% sequentially, with 5% revenue growth despite pricing challenges.
  • UPI throughput increased 14% year-on-year to INR 60,000 crores; digitally active customers rose 22% YoY to 65 lakhs.
  • Referral loan disbursals surged 214% YoY to INR 628 crores, indicating strong secured lending demand.
  • Focus on relaunching high-growth B2B UPI P2M segment tentatively in Q4 FY27.
  • CASA ratio increased, contributing 54% of revenue, highlighting strengthening liability franchise.
  • FY27 is a consolidation year focusing on building foundation, investing in technology and people for growth.
  • Future growth driven by strong low-cost liability franchise, asset-light secured lending, and technology-led operations.

2 more points from Fino Payments Bank Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Fino Payments Bank Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Current FY27 capex/opex guidance includes approximately INR 10 crores specifically for Small Finance Bank (SFB) related operational expenses such as hiring and technology investments.
  • Significant technology investment has been made, including migration of core banking from FIS Global to Finacle; additional modules like LOS, LMS, and related systems are being integrated.
  • Technology costs are expected to moderate post FY27, as platform moves from implementation to steady state.

2 more points from Fino Payments Bank Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Fino Payments Bank Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Flat

Ask what Fino Payments Bank Ltd said on the order book →

Full Q1 FY27 analysis
Full Banks ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Banks
on management's own guidance

  1. AU Small FinanceGood growth
    2
  2. Canara BankGood growth
    1
  3. IDFC First BankGood growth
    3
See all potential multibaggersWhere does Fino Payments Bank Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Banks companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Canara Bank20–40%Flat₹1.07L Cr5.3
2AU Small Finance20–40%Flat₹74,341 Cr26.0
3IDFC First Bank20–40%Flat₹67,332 Cr29.9
420–40%Flat₹58,716 Cr49.8
520–40%Flat₹13,576 Cr9.4
620–40%Flat₹6,759 Cr8.6

Sign up free to see every company in the sector ranking and track Fino Payments Bank Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Banks ranking

Financials of Fino Payments Bank Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Fino Payments Bank Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs +5.09%5.12%5.12%4.21%3.70%4.08%2.54%2.67%2.69%1.33%0.31%0.03%
DIIs +5.58%5.92%5.99%6.14%6.08%3.52%3.04%3.35%0.45%0.40%0.00%0.00%
Public +14.34%13.97%13.90%14.65%15.22%17.41%19.43%19.00%21.87%23.27%24.68%24.97%
No. of Shareholders68,89765,15063,91964,49564,46064,10463,09361,62261,48362,35862,12565,755

Pros & Cons

Fino Payments Bank Ltd

Key positives and risks surfaced from the company insights section.

Pros
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 11.2% over last 3 years.
  • Earnings include an other income of Rs.1,178 Cr.
Raw Insights
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 11.2% over last 3 years.
  • Earnings include an other income of Rs.1,178 Cr.

Financials of Fino Payments Bank Ltd

Quarterly Results

Quarter-by-quarter operating performance

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue +33373941454849536160636472
Interest15192223242526262828292935
Expenses +314320326353389404407438400351344306285
Financing Profit-297-303-308-335-367-382-384-411-368-319-311-270-248
Financing Margin %-900%-828%-787%-808%-810%-799%-777%-779%-603%-530%-494%-422%-344%
Other Income +315322331360392408412441392340328275235
Depreciation0000000000000
Profit before tax19202325242628302521174-14
Tax %0%0%0%0%0%18%19%19%28%28%30%-73%0%
Net Profit +19202325242123241815127-14
EPS in Rs2.252.352.743.032.922.542.782.882.131.841.470.85-1.65
Gross NPA %
Net NPA %

Financials of Fino Payments Bank Ltd

Profit & Loss

Annual income statement trend

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue +161918203695150195248259
Interest361010154779101114121
Expenses +2794106907079151,0761,2601,5761,3301,287
Financing Profit-266-396-682-697-895-1,028-1,189-1,481-1,196-1,148
Financing Margin %-1,716%-2,068%-3,760%-3,441%-2,512%-1,084%-792%-759%-482%-443%
Other Income +2153526737719731,1351,3281,6521,3401,178
Depreciation1618245435425362760
Profit before tax-67-62-32204365861086729
Tax %0%0%0%0%0%0%0%15%22%
Net Profit +-67-62-3220436586935221
EPS in Rs-8.63-8.00-4.112.625.147.8210.3611.126.302.51
Dividend Payout %0%0%0%0%0%0%0%0%0%

Financials of Fino Payments Bank Ltd

Balance Sheet

Capital structure and asset base

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital454545458383838383
Reserves18011885106397469560664722
Deposits39481182435039171,4131,9392,379
Borrowing48831111812504347138391,535
Other Liabilities +226392266436448563651680592
Total Liabilities5386846241,0101,6802,4663,4194,2065,312
Fixed Assets +4642496292139148167355
CWIP100205471309
Investments64731285046311,1461,7472,3883,254
Other Assets +4275694464439561,1751,4771,5201,693
Total Assets5386846241,0101,6802,4663,4194,2065,312

Financials of Fino Payments Bank Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-84-32207-205776-307
Cash from Investing Activity +-31-69-64-97-104-164-143
Cash from Financing Activity +2870352184279127696
Net Cash Flow-86-314956823239246
Free Cash Flow-114-101143-114-47-88-449

Financials of Fino Payments Bank Ltd

Ratios

Working capital efficiency and return ratios

Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROE %-30%-32%-22%15%14%13%14%13%7%

Guidance history

How Fino Payments Bank Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned—Flat
Q4 FY26 call →10–20%FlatPlannedNone planned—
Q3 FY26 call →—Flat———
Q3 FY26 call →10–20%FlatPlanned——

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

11out of 100

Momentum score · price trend

11 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−58.9%2%
Last 6 months−2.6%50%
Last 3 months−23.5%10%

The price is 77.4% below its all-time high of ₹543.9 (12 Nov 2021). Stocks more than 20% below their peak have their score halved, so 22 became 11.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Fino Payments Bank Ltd: 0.4 × 2 + 0.4 × 50 + 0.2 × 10 = 22, halved to 11 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Fino Payments Bank Ltd's management said in earlier quarters

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