Niyogin Fintech Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹490 Cr
- ROE
- -0.12%
- Price to sales
- 1.82
- Debt to equity
- 0.69
- 52W high / low
- ₹71.4 / ₹31.6
- Sales growth (5Y)
- 41.78%
- EBITDA margin
- 2.50%
- Net profit margin
- 0.16%
- Promoter holding
- 39.50%
- Sales (last year)
- ₹271 Cr
Niyogin Fintech Ltd is a fintech company and a registered NBFC. The Co. provides a digital platform that enables access to relevant services & products for MSMEs providing financial inclusion, credit, investments and SAAS services. [1]
Guidance scorecard · Q1 FY27 call
What Niyogin Fintech's management guided
and where it ranks in Finance
RevenueQ3 FY25 call
20–40%- IServeU expects net revenues to double from Rs. 70-80 crores in FY '26 to around Rs. 150 crores by FY '27.
- Growth driven by long-term SaaS-based contracts with banks like Bank of Baroda, Axis Bank, and others.
- Contract pipeline includes approximately 7 lakh devices to be deployed over next few years.
- NBFC business plans to grow AUM from Rs. 300 crores in FY '25 to Rs. 550 crores in FY '26, reaching Rs. 800 crores by FY '27.
- Loan disbursal volumes showing strong YoY growth, with 90,093 loans processed in Q3 FY '25 (245% YoY growth).
- Soundbox and POS businesses expected to grow significantly with contracts totaling over Rs. 27 crores across multiple banks.
2 more points from Niyogin Fintech's call on revenue
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MarginsQ3 FY25 call
FlatSee what Niyogin Fintech said on margins — free account, 30 seconds.
CapexQ3 FY25 call
Planned- There is a significant investment planned in technology and team expansion, particularly in the iServeU business, including beefing up middle management and tech resources to support SaaS-based revenue growth.
- Strategic partnerships and MOUs have been established for technology innovation and supply certainty, such as the tie-up with Pax Devices for device supply and R&D collaboration.
- Capital investments include funding growth through a combination of debt and equity, with approximately Rs. 50 crores expected from each for iServeU.
- On the NBFC side, funding plans involve maintaining a debt-equity ratio of 2:1, with an equity infusion of Rs. 60 crores expected from warrant maturities.
FundraisingQ3 FY25 call
PlannedSee what Niyogin Fintech said on fundraising — free account, 30 seconds.
Order bookQ3 FY25 call
Rising- IServeU has a contract pipeline with approximately 7 lakh devices, including key wins from Bank of Baroda, Axis Bank, and Suryoday Small Finance Bank.
- Recently signed a contract with Bank of Baroda to deploy over 1 lakh Soundboxes, with an annual recurring revenue of around Rs. 5-6 crores.
- Won a Bharat Bill Payment System contract with Bank of Baroda, a 5-year agreement worth a minimum of Rs. 17 crores.
- Axis Bank contract combining POS and Soundbox worth around Rs. 5 crores, to be realized over the next three years.
2 more points from Niyogin Fintech's call on the order book
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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 Finance
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Finance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹2,826 Cr | 59.9 | |
| 2 | 40%+ | Up 2%+ | ₹844 Cr | — | |
| 3 | 40%+ | Flat | ₹41,424 Cr | 38.1 | |
| 4 | 40%+ | Flat | ₹16,712 Cr | — | |
| 5 | 40%+ | Flat | ₹7,256 Cr | 19.1 | |
| 6 | 40%+ | Flat | ₹948 Cr | 28.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Finance rankingNiyogin Fintech announcements
All announcements →- Acquisition / mergerNotableNiyogin Fintech Limited announces approval of Composite Scheme of Amalgamation
- Board / shareholder meeting outcomeNotableNiyogin Fintech Limited announces voting results on Composite Scheme of Arrangement
- Acquisition / mergerNotableNiyogin Fintech shareholders and creditors approve composite amalgamation scheme
- Acquisition / mergerNotableNiyogin Fintech schedules meetings for Scheme of Arrangement on Oct 30, 2026
- Acquisition / mergerNotableNiyogin Fintech: NCLT allows first motion on scheme with Niyogin Finserv, iServeU; meetings ordered
Financials of Niyogin Fintech
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Niyogin Fintech
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue + | 33.73 | 44.86 | 47.13 | 53.59 | 50.18 | 50.39 | 72.52 | 111.21 | 69.85 | 81.75 | 70.10 | 63.10 | 71.97 |
| Interest | 0.44 | 0.79 | 1.07 | 1.13 | 1.67 | 2.41 | 3.17 | 3.56 | 3.30 | 4.15 | 5.33 | 6.31 | 7.38 |
| Expenses + | 37.48 | 50.00 | 55.55 | 55.38 | 50.40 | 56.06 | 71.20 | 112.46 | 69.58 | 80.42 | 67.36 | 69.46 | 65.91 |
| Financing Profit | -4.19 | -5.93 | -9.49 | -2.92 | -1.89 | -8.08 | -1.85 | -4.81 | -3.03 | -2.82 | -2.59 | -12.67 | -1.32 |
| Financing Margin % | -12.42% | -13.22% | -20.14% | -5.45% | -3.77% | -16.03% | -2.55% | -4.33% | -4.34% | -3.45% | -3.69% | -20.08% | -1.83% |
| Other Income + | 2.57 | 0.68 | 0.27 | 0.17 | 1.10 | 0.40 | 0.37 | 2.00 | 2.26 | 4.39 | 6.18 | 17.12 | 5.43 |
| Depreciation | 1.69 | 1.90 | 1.96 | 2.07 | 2.17 | 2.19 | 2.57 | 2.44 | 2.33 | 2.33 | 2.67 | 2.62 | 2.69 |
| Profit before tax | -3.31 | -7.15 | -11.18 | -4.82 | -2.96 | -9.87 | -4.05 | -5.25 | -3.10 | -0.76 | 0.92 | 1.83 | 1.42 |
| Tax % | 1.21% | -7.13% | -12.34% | -4.77% | 28.38% | -0.30% | 4.94% | -6.48% | -186.45% | 143.42% | 31.52% | 73.77% | 21.83% |
| Net Profit + | -3.35 | -6.64 | -9.80 | -4.59 | -3.81 | -9.84 | -4.25 | -4.91 | 2.68 | -1.86 | 0.63 | 0.48 | 1.11 |
| EPS in Rs | -0.27 | -0.51 | -0.72 | -0.33 | -0.22 | -0.68 | -0.44 | -0.51 | -0.03 | -0.14 | 0.03 | 0.01 | 0.06 |
| Gross NPA % | |||||||||||||
| Net NPA % |
Financials of Niyogin Fintech
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Revenue + | 28 | 50 | 103 | 110 | 196 | 304 | 287 |
| Interest | 0 | 1 | 1 | 2 | 5 | 14 | 23 |
| Expenses + | 48 | 52 | 108 | 137 | 211 | 307 | 283 |
| Financing Profit | -21 | -3 | -6 | -30 | -20 | -17 | -19 |
| Financing Margin % | -74% | -5% | -6% | -27% | -10% | -6% | -7% |
| Other Income + | 0 | 0 | 4 | 8 | 2 | 5 | 33 |
| Depreciation | 4 | 5 | 5 | 6 | 8 | 10 | 10 |
| Profit before tax | -25 | -7 | -8 | -28 | -26 | -22 | 3 |
| Tax % | -1% | 2% | -2% | 1% | -5% | -27% | 89% |
| Net Profit + | -25 | -7 | -8 | -28 | -25 | -16 | 0 |
| EPS in Rs | -2.78 | -0.74 | -0.63 | -1.87 | -1.76 | -1.43 | -0.04 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Niyogin Fintech
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 86 | 94 | 94 | 94 | 95 | 111 | 111 |
| Reserves | 155 | 192 | 192 | 178 | 186 | 212 | 214 |
| Borrowing | 0 | 0 | 0 | 0 | 54 | 96 | 225 |
| Other Liabilities + | 9 | 82 | 77 | 72 | 117 | 152 | 159 |
| Total Liabilities | 250 | 368 | 363 | 345 | 452 | 571 | 709 |
| Fixed Assets + | 14 | 125 | 101 | 111 | 116 | 120 | 145 |
| CWIP | 0 | 0 | 0 | 0 | 1 | 12 | 0 |
| Investments | 60 | 80 | 63 | 7 | 2 | 4 | 1 |
| Other Assets + | 177 | 163 | 199 | 226 | 333 | 435 | 563 |
| Total Assets | 250 | 368 | 363 | 345 | 452 | 571 | 709 |
Financials of Niyogin Fintech
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -104 | 110 | -70 | -58 | -37 | -86 | -81 |
| Cash from Investing Activity + | 112 | -118 | 39 | 87 | -18 | -9 | -63 |
| Cash from Financing Activity + | -1 | 47 | 0 | -3 | 70 | 91 | 124 |
| Net Cash Flow | 7 | 40 | -31 | 26 | 15 | -3 | -20 |
| Free Cash Flow | -104 | 75 | -72 | -59 | -39 | -109 | -103 |
| CFO/OP | 508% | -5,258% | 1,290% | 210% | 252% | 2,886% | -1,628% |
Financials of Niyogin Fintech
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| ROE % | -10% | -3% | -2% | -6% | -6% | -5% | -0% |
Guidance history
How Niyogin Fintech's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q3 FY25 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q2 FY25 call → | 10–20% | Flat | Planned | — | Rising |
| Q1 FY25 call → | 10–20% | Down 0–2% | Planned | Planned | Rising |
| Q4 FY24 call → | 20–40% | Up 2%+ | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
13 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,937 stocks |
|---|---|---|
| Last 12 months | −35.1% | 11% |
| Last 6 months | +1.7% | 48% |
| Last 3 months | −18.6% | 12% |
The price is 71% below its all-time high of ₹156.75 (14 Sept 2018). Stocks more than 20% below their peak have their score halved, so 26 became 13.
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 (1,937 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 Niyogin Fintech: 0.4 × 11 + 0.4 × 48 + 0.2 × 12 = 26, halved to 13 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 12 Nov 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 Niyogin Fintech's management said in earlier quarters
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