Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Pine Labs
Quarter-by-quarter operating performance
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 552 | 602 | 599 | 616 | 650 | 744 | 701 |
| Expenses + | 519 | 525 | 542 | 571 | 575 | 612 | 594 |
| Operating Profit | 32 | 77 | 57 | 45 | 75 | 132 | 106 |
| OPM % | 6% | 13% | 9% | 7% | 12% | 18% | 15% |
| Other Income + | 22 | -30 | 12 | 37 | 23 | 23 | 50 |
| Interest | 18 | 22 | 22 | 21 | 21 | 24 | 17 |
| Depreciation | 75 | 76 | 69 | 65 | 66 | 68 | 71 |
| Profit before tax | -38 | -51 | -22 | -5 | 11 | 63 | 68 |
| Tax % | -16% | 11% | 30% | -199% | 47% | 32% | 13% |
| Net Profit + | -32 | -57 | -29 | 5 | 6 | 42 | 59 |
| EPS in Rs | -0.38 | -0.67 | -0.34 | 0.11 | 0.13 | 0.37 | 0.52 |
Financials of Pine Labs
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 848 | 670 | 932 | 1,598 | 1,770 | 2,274 | 2,711 |
| Expenses + | 760 | 560 | 820 | 1,592 | 1,794 | 2,056 | 2,352 |
| Operating Profit | 87 | 110 | 112 | 5 | -25 | 218 | 358 |
| OPM % | 10% | 16% | 12% | 0% | -1% | 10% | 13% |
| Other Income + | 18 | 13 | 25 | 56 | 55 | 16 | 133 |
| Interest | 18 | 22 | 24 | 36 | 64 | 79 | 84 |
| Depreciation | 155 | 175 | 189 | 315 | 363 | 292 | 270 |
| Profit before tax | -68 | -74 | -75 | -289 | -398 | -136 | 137 |
| Tax % | -30% | -25% | -70% | -8% | -14% | 7% | 18% |
| Net Profit + | -47 | -56 | -23 | -265 | -342 | -145 | 113 |
| EPS in Rs | -3.95 | -4.34 | -1.67 | -18.99 | -4.07 | -1.73 | 0.98 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Pine Labs
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 13 | 14 | 0.02 | 0.10 | 0.10 | 115 |
| Reserves | 1,035 | 1,178 | 1,900 | 3,664 | 3,466 | 3,431 | 5,781 |
| Borrowings + | 176 | 191 | 236 | 514 | 730 | 1,046 | 441 |
| Other Liabilities + | 2,225 | 3,185 | 4,111 | 5,141 | 5,422 | 6,222 | 6,961 |
| Total Liabilities | 3,448 | 4,567 | 6,260 | 9,318 | 9,618 | 10,698 | 13,297 |
| Fixed Assets + | 1,017 | 980 | 1,019 | 2,103 | 1,920 | 1,825 | 1,963 |
| CWIP | 52 | 48 | 122 | 269 | 222 | 160 | 41 |
| Investments | 40 | 34 | 50 | 18 | 21 | 30 | 28 |
| Other Assets + | 2,338 | 3,505 | 5,070 | 6,928 | 7,455 | 8,683 | 11,265 |
| Total Assets | 3,448 | 4,567 | 6,260 | 9,318 | 9,618 | 10,698 | 13,297 |
Financials of Pine Labs
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 11 | 111 | -79 | -152 | -229 | 50 | 395 |
| Cash from Investing Activity + | 112 | -260 | -443 | -441 | -22 | -486 | -1,339 |
| Cash from Financing Activity + | 1,431 | 823 | 1,644 | 2 | -220 | -201 | 1,972 |
| Net Cash Flow | 1,554 | 674 | 1,122 | -591 | -471 | -637 | 1,029 |
| Free Cash Flow | -156 | -54 | -407 | -517 | -486 | -99 | 161 |
| CFO/OP | 86% | 114% | -25% | -1,258% | 872% | 5% | 112% |
Financials of Pine Labs
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 92 | 196 | 116 | 135 | 134 | 136 | 140 |
| Inventory Days | 5 | 23 | 134 | 65 | 38 | 32 | |
| Days Payable | 144 | 1,345 | 1,233 | 908 | 693 | 382 | |
| Cash Conversion Cycle | -47 | -1,126 | 116 | -964 | -708 | -519 | -210 |
| Working Capital Days | -722 | -1,252 | -1,255 | -813 | -807 | -762 | -609 |
| ROCE % | -4% | -3% | -7% | -8% | -0% | 4% |
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