Manipal Payment and Identity Solutions

Manipal, India Founded: 2008 • Age: 18 yrs Listed
A fintech company offering banking networks and smart card manufacturing solutions
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About Manipal Payment and Identity Solutions

Manipal Payment and Identity Solutions is a publicly listed company based in Manipal (India) founded in 2008. A fintech company offering banking networks and smart card manufacturing solutions. Manipal Payment and Identity Solutions has raised $24 million across 1 funding round from investors including Touchstone Capital. The company has 1,158 employees. Its chief executive, as recorded, is Girish Kini. Its Indian entity Manipal Payment And Identity Solutions Limited reported revenue of ₹1,357 Cr. Its focus areas include FinTech, Payments, Enablers and White Label Solutions. Its competitors include RuPay, HiSAVE and Upiadda; 1 of its 3 listed competitors has raised funding.

Company details

The company was founded in 2008 and is based in Manipal, India. Fintech services focused on banking networks and smart card manufacturing are offered to sectors such as banking, government, and transportation. Payment solutions and identity management services are also provided, supporting various operational needs in these industries.

  • Headquarters Manipal, India
  • Employees 1,158
  • Stage Public
  • Sectors
    Financial Services
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website mpimanipal.com
  • Social LinkedIn
  • Legal Name Manipal Payment And Identity Solutions Limited
Operational Areas
Financial Services → Payments & Remittance Platforms
Key Metrics
  • Market Cap
    ₹7,417 Cr

    MPIMANIPAL · NSE

  • Share Price
    ₹322.05

    +0.66% today

  • Revenue
    ₹1,327 Cr

    FY 2025-26 · +5.6% YoY

  • EBITDA
    ₹424 Cr

    Margin 31.9%

  • Net Profit
    ₹250 Cr

    FY 2025-26 · +25.1% YoY

  • P/E (TTM)
    23.7x

    P/B 5.8x

  • ROE
    46.2%

    ROCE 43.7%

  • Debt / Equity
    0.65

    Interest cover 13.0x

  • Total Equity Funding
    $24M (USD)

    in 1 rounds

  • Latest Funding Round
    $24M (USD), Series B

    Mar 2024

  • Investors
    Touchstone Capital
  • Employee Count
    1,158

Funding Insights of Manipal Payment and Identity Solutions

Manipal Payment and Identity Solutions has successfully raised a total of $24M through 1 strategic funding round. The most recent funding activity was a Series B round of $24 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.

  • Total Funding $24M
  • Total Rounds 1
  • Last Round Series B — $24M
  • First Round $24M

    (Mar 2024)

  • Investors Count 1

All 1 funding rounds of Manipal Payment and Identity Solutions with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Mar 2024$24MSeries B–Touchstone Capital
–
Valuation history

1 investors in total: 1 institutional.

Investors in Manipal Payment and Identity Solutions

Manipal Payment and Identity Solutions has secured backing from 1 investor. Prominent investors backing the company include Touchstone Capital.

All
InvestorDescriptionFounded YearDomainLocation
Touchstone Capital
Touchstone Capital is recognized as an alternative investment manager.
touchstonecapital.inMumbai, India
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Investor details for Manipal Payment and Identity Solutions

The complete investor list, round-by-round participation and investor portfolios require an active premium plan.

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Board of directors of Manipal Payment And Identity Solutions Limited (Manipal Payment and Identity Solutions)

Manipal Payment And Identity Solutions Limited is the primary company behind Manipal Payment and Identity Solutions. The board of Manipal Payment And Identity Solutions Limited currently have 9 directors; the longest-serving is Padmaja Shailen Ruparel, appointed in 2024. 20 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Padmaja Shailen Ruparel
DIN 01383513
Director13 May 20242 yrs 6 moManipal Payment And Identity Solutions Limited
Tonse Gautham Pai
DIN 00120314
Director13 May 20242 yrs 6 moManipal Payment And Identity Solutions Limited
Hardur Manjunatha Dattatri
DIN 01603653
Company Secretary13 May 20242 yrs 6 moManipal Payment And Identity Solutions Limited
Abhay Anant Gupte
DIN 00389288
Director13 May 20242 yrs 6 moManipal Payment And Identity Solutions Limited
Ramchandra Kasargod Kamath
DIN 01715073
Director13 May 20242 yrs 6 moManipal Payment And Identity Solutions Limited
Rohan Ajila
DIN 01549005
Director14 Jul 20242 yrs 3 moManipal Payment And Identity Solutions Limited
Baikadi Narahari
DIN 00776676
Director12 Nov 20241 yr 11 moManipal Payment And Identity Solutions Limited
Binoy Sandip Parikh
DIN 10060552
Director23 Jun 20251 yr 4 moManipal Payment And Identity Solutions Limited
Kini Kukkundoor Girish
DIN 11128061
Director23 Jun 20251 yr 4 moManipal Payment And Identity Solutions Limited

People of Manipal Payment and Identity Solutions

1 people are tracked at Manipal Payment and Identity Solutions (1 in leadership); the tracked headcount is 1,158.

NameRoleGroup
Girish Kini
CEOLeadership
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Complete people profiles for Manipal Payment and Identity Solutions

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IPO & Listings of Manipal Payment and Identity Solutions

Manipal Payment and Identity Solutions is a publicly listed company on the NSE with ticker symbol MPIMANIPAL in India, operating in the Commercial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date17 Sep 2026
  • Listed onNSE: MPIMANIPAL
  • Listed entityManipal Payment and Identity Solutions Limited
  • Exchange sectorCommercial services
  • ISININE241U01028
  • Share price₹357.80 (-0.28% on the day) · 2026-10-14
  • Market capitalisation₹8,329 Cr
  • Volume (last session)123,345

Financials of Manipal Payment and Identity Solutions

Exchange-reported figures of Manipal Payment And Identity Solutions Limited, the listed company behind Manipal Payment and Identity Solutions (NSE: MPIMANIPAL).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹1,327 Cr
+5.6% YoY
EBITDA
₹424 Cr
+9.2% YoY
Profit After Tax
₹250 Cr
+25.1% YoY
Net Worth
₹792 Cr
+160.3% YoY
Total Assets
₹947 Cr
+8.8% YoY
Total Debt
₹153 Cr
-72.9% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25
Income statement
Revenue1,3271,256
Revenue growth+5.6%-
EBITDA424388
EBITDA margin+31.9%+30.9%
Profit before tax349354
Net profit250200
Net profit margin+18.8%+15.9%
EPS (₹)11.4013.65
Balance sheet
Total assets947871
Net worth792304
Total debt153565
Cash & bank20085.28
Net working capital468416
Cash flow
Cash from operations208284
Cash from investing245(586)
Cash from financing(328)(173)
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Revenue430419339382322284
Revenue growth (YoY)+33.6%+47.8%----
Other income5.965.0510.185.115.409.15
EBITDA13112494.4213111286.19
EBITDA margin+30.5%+29.6%+27.8%+34.4%+34.7%+30.4%
Depreciation22.3519.8417.3413.2211.8613.84
Interest4.814.765.214.624.3333.75
Profit before tax11010582.0511910147.75
Tax29.2026.9325.2130.9425.8313.83
Net profit80.8877.7056.8487.5775.1333.92
EPS (₹)3.523.392.530.003.391.57
MetricsFY 2025-26FY 2024-25FY 2023-24
Income statement
Revenue1,3271,2561,248
Revenue growth+5.6%+0.7%-
EBITDA424388335
EBITDA margin+31.9%+30.9%+26.9%
Profit before tax349354300
Net profit247151249
Net profit margin+18.7%+12.0%+20.0%
EPS (₹)11.4013.6560.24
Balance sheet
Total assets947871945
Net worth79230489.61
Total debt153565492
Cash & bank20085.28544
Net working capital468416750
Cash flow
Cash from operations208284309
Cash from investing245(586)(75.88)
Cash from financing(328)(173)267
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Revenue414409347382322284
Revenue growth (YoY)+28.5%+44.3%----
Other income5.375.369.645.966.619.15
Total expenses283290240250210197
EBITDA13112010613211286.49
EBITDA margin+31.6%+29.2%+30.6%+34.7%+34.8%+30.5%
Depreciation20.7518.5116.4912.9811.8013.79
Interest4.384.414.934.524.3033.74
Profit before tax11110294.4512110248.11
Tax28.5426.0926.1331.4726.2013.68

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 12 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Revenue430419339382322284
Revenue growth (YoY)+33.6%+47.8%----
Other income5.965.0510.185.115.409.15
EBITDA13112494.4213111286.19
EBITDA margin+30.5%+29.6%+27.8%+34.4%+34.7%+30.4%
Depreciation22.3519.8417.3413.2211.8613.84
Interest4.814.765.214.624.3333.75
Profit before tax11010582.0511910147.75
Tax29.2026.9325.2130.9425.8313.83
Net profit80.8877.7056.8487.5775.1333.92
EPS (₹)3.523.392.530.003.391.57
ParticularsFY 2025-26FY 2024-25
Revenue1,3271,256
Revenue growth+5.6%-
Other income29.84131
Total expenses903868
Employee cost114104
EBITDA424388
EBITDA margin+31.9%+30.9%
Depreciation56.2655.19
Interest47.91109
Profit before tax349354
Tax95.8072.24
Net profit250200
Net profit margin+18.8%+15.9%
EPS (₹)11.4013.65
ParticularsFY 2025-26FY 2024-25
Equity & liabilities
Share capital44.4741.36
Reserves & surplus747252
Shareholders' funds (net worth)792304
Minority interest0.000.00
Secured loans0.42473
Unsecured loans15291.66
Total debt153565
Total liabilities947871
Assets
Gross block609435
Net block352215
Capital work in progress12.4812.09
Investments61.32172
Inventories183109
Sundry debtors197139
Cash & bank balances20085.28
Loans & advances102621
Total current assets681955
Total current liabilities214539
Net working capital468416
Total assets947871
ParticularsFY 2025-26FY 2024-25
Opening cash30.08505
Net cash from operating activities208284
Net cash from investing activities245(586)
Net cash from financing activities(328)(173)
Net change in cash125(475)
Closing cash20085.28
ParticularsFY 2025-26FY 2024-25
Growth
Sales growth+5.6%-
EBITDA growth+9.3%-
PBT growth-1.5%+9997.0%
Net income growth+25.1%-
Profitability & leverage
Net income margin+19.1%+22.5%
Return on capital employed+43.7%+41.0%
Return on net worth+46.3%+65.7%
Debt / equity0.651.86
Long-term debt / equity0.491.40
Interest cover13.0432.82
Efficiency & per share
Fixed asset turnover2.542.89
Inventory turnover9.0811.48
Debtors turnover7.899.03
EPS (₹)11.4013.65
Dividend per share (₹)0.000.00
Book value per share (₹)35.6114.21
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Revenue414409347382322284
Revenue growth (YoY)+28.5%+44.3%----
Other income5.375.369.645.966.619.15
Total expenses283290240250210197
EBITDA13112010613211286.49
EBITDA margin+31.6%+29.2%+30.6%+34.7%+34.8%+30.5%
Depreciation20.7518.5116.4912.9811.8013.79
Interest4.384.414.934.524.3033.74
Profit before tax11110294.4512110248.11
Tax28.5426.0926.1331.4726.2013.68
ParticularsFY 2025-26FY 2024-25FY 2023-24
Revenue1,3271,2561,248
Revenue growth+5.6%+0.7%-
Other income29.8413120.45
Total expenses903868912
Employee cost11410490.35
EBITDA424388335
EBITDA margin+31.9%+30.9%+26.9%
Depreciation56.2655.1934.82
Interest47.9110920.40
Profit before tax349354300
Tax95.8072.2451.19
Net profit247151249
Net profit margin+18.7%+12.0%+20.0%
EPS (₹)11.4013.6560.24
ParticularsFY 2025-26FY 2024-25FY 2023-24
Equity & liabilities
Share capital44.4741.3641.36
Reserves & surplus74725237.78
Shareholders' funds (net worth)79230489.61
Secured loans0.42473449
Unsecured loans15291.6642.94
Total debt153565492
Total liabilities947871945
Assets
Gross block609435319
Net block352215138
Capital work in progress12.4812.093.83
Investments61.321720.04
Inventories183109112
Sundry debtors197139119
Cash & bank balances20085.28544
Loans & advances102621133
Total current assets681955908
Total current liabilities214539158
Net working capital468416750
Total assets947871945
ParticularsFY 2025-26FY 2024-25FY 2023-24
Opening cash30.085054.93
Net cash from operating activities208284309
Net cash from investing activities245(586)(75.88)
Net cash from financing activities(328)(173)267
Net change in cash125(475)500
Closing cash20085.28544
ParticularsFY 2025-26FY 2024-25FY 2023-24
Growth
Sales growth+5.6%+0.7%-
EBITDA growth+9.3%+15.7%-
PBT growth-1.5%+18.0%+9997.0%
Net income growth+64.0%-39.5%-
Profitability & leverage
Net income margin+19.1%+22.5%+20.0%
Return on capital employed+43.7%+39.3%+34.0%
Return on net worth+46.3%+76.6%+278.1%
Debt / equity0.652.685.50
Long-term debt / equity0.492.255.13
Interest cover13.0432.826.79
Efficiency & per share
Fixed asset turnover2.543.333.91
Inventory turnover9.0811.3411.13
Debtors turnover7.899.7310.46
EPS (₹)11.4013.6560.24
Dividend per share (₹)0.000.000.00
Book value per share (₹)35.6114.2119.14

Timeline of Manipal Payment and Identity Solutions

3 dated milestones of Manipal Payment and Identity Solutions across 18 years, from founding to its latest funding, stage changes and deals.

  1. Founded Manipal Payment and Identity Solutions is founded.
  2. Funding First funding round of $24.0M.
  3. IPO Lists on the stock exchange (IPO).

Competitors of Manipal Payment and Identity Solutions

Manipal Payment and Identity Solutions has 3 listed competitors in our database, 1 of them funded. They include RuPay, HiSAVE and Upiadda.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
RuPay
rupay.co.in2011Mumbai, India
Offers a range of RuPay credit, debit, and prepaid cards for financial transactions.
HiSAVE
gohisave.com2021Mumbai, India$100,000
Savings on payment options are maximized via aggregated discounts.
Upiadda
upiadda.com2023Ahmedabad, India
Delivers comprehensive payment products and enabler services for businesses.
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Detailed competitors of Manipal Payment and Identity Solutions

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Web traffic of Manipal Payment and Identity Solutions

The website of Manipal Payment and Identity Solutions (mpimanipal.com) receives about 3.1K visits a month.

  • Monthly visits
    3.1K

    ▼ 46.3% vs previous month

Similar websites

Websites whose visitors overlap most with Manipal Payment and Identity Solutions. Affinity shows how closely the audiences match.

WebsiteDomainAudience affinityMonthly visitsGlobal rankProfile
Manipal Technologies
manipaltechnologies.com
32%
View details

Top companies in Payments & Remittance Platforms

3 companies that operate in the same segment as Manipal Payment and Identity Solutions (Payments & Remittance Platforms) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Paytm
Digital payments, financial services, and e-commerce platforms are provided.
2000Noida, Uttar Pradesh, IndiaUSD 2.81 BUSD 1.05 B39,368
PhonePe
Payment, financial, investment, and lending services are provided digitally.
2012Bengaluru, Karnataka, IndiaUSD 1.71 BUSD 950.07 M12,265
Razorpay
Payment and business banking solutions are provided for enterprises.
2014Bengaluru, Karnataka, IndiaUSD 741.62 MUSD 302.19 M2,850
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Related news about Manipal Payment And Identity Solutions

Manipal Payment bets on exports, metal cards to drive next growth phase
CNBC-TV18 • 1 month ago
Manipal Payment & Identity Solutions lists at 2% discount to IPO price - The Economic Times
Economic Times • 1 month ago
Manipal Payment and Identity Solutions slips on debut | Capital Market News - Business Standard
Business Standard • 1 month ago
Manipal Payment and Identity Solutions IPO listing: Shares debut at 2.65% discount to issue price
ZEE Business • 1 month ago
Manipal Payment & Identity Solutions IPO booked 31% on Day 2; retail portion fully subscribed
Moneycontrol • 2 months ago
Manipal Payment & Identity Solutions IPO Day 2: Issue Subscribed 17% So Far
Mint • 2 months ago
What’s the upside for Amicus, India SME Investments as portfolio firm tweaks IPO plan?
VCCircle • 2 months ago
Manipal Payment and Identity Solutions Ltd. IPO
Mint • 2 months ago
Manipal Payment and Identity Solutions Limited’s IPO to Open on Wednesday, Sept. 9, 2026 | IndianWeb2.com
IndianWeb2 • 2 months ago
Manipal Payment IPO price band fixed at Rs 322-339
YourStory • 2 months ago
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Frequently Asked Questions about Manipal Payment and Identity Solutions

Manipal Payment and Identity Solutions was founded in 2008 and raised its 1st funding round 16 years after it was founded.

Manipal Payment and Identity Solutions is headquartered in Manipal, India. It is registered at Manipal, Karnataka, India.

Girish Kini is the CEO of Manipal Payment and Identity Solutions, as recorded in our data.

Manipal Payment and Identity Solutions is a funded company, having raised a total of $24M across 1 funding round to date. The company's 1st funding round was a Series B of $24M, raised on Mar 2024.

Manipal Payment and Identity Solutions has 1,158 employees.

The primary company behind Manipal Payment and Identity Solutions, Manipal Payment And Identity Solutions Limited, reported revenue of ₹1,357 Cr for FY 2026, up 6% year on year.

The company was founded in 2008 and is based in Manipal, India. Fintech services focused on banking networks and smart card manufacturing are offered to sectors such as banking, government, and transportation. Payment solutions and identity management services are also provided, supporting various operational needs in these industries.

Manipal Payment and Identity Solutions's top competitors include RuPay, HiSAVE and Upiadda.

Yes, Manipal Payment and Identity Solutions is publicly traded on NSE under the ticker symbol MPIMANIPAL.

Manipal Payment and Identity Solutions has 1 investor. Key investors include Touchstone Capital.

Manipal Payment and Identity Solutions operates through Manipal Payment And Identity Solutions Limited.

The legal entities of Manipal Payment and Identity Solutions currently have 11 directors, including Binoy Sandip Parikh, Padmaja Shailen Ruparel, Tonse Gautham Pai and others.

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