PaySe

Noida, India Founded: 2015 • Age: 11 yrs Listed
Digital payment solutionprovider
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About PaySe

PaySe is a publicly listed company based in Noida (India) founded in 2015 by Ashutosh Pande. Digital payment solutionprovider. The company has 1,786 employees. Its Indian entity Nucleus Software Exports Limited reported revenue of ₹940 Cr. Its focus areas include FinTech, Payments, Business Payments and Diversified. Similar companies include Razorpay, Mintoak and Pine Labs; 3 of its 3 listed similar companies have raised funding.

Company details

PaySe was founded in 2015 in Noida, India, by Ashutosh Pande. Operations focus on the fintech sector, where offline and online digital cash solutions are provided to merchants. Services include a mobile wallet app available on Google Play for sending and receiving money, recharging mobiles and DTH, paying utility bills such as electricity and water, and enabling payment splitting. Customer payments are facilitated through cards or the app.

  • Headquarters Noida, India
  • Employees 1,786
  • Founders Ashutosh Pande
  • Stage Public
  • Sectors
    Financial Services
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website payse.cash
  • Social X Facebook
  • Legal Name Nucleus Software Exports Limited
  • Date of Incorporation 09 Jan, 1989
  • Jurisdiction New Delhi, Delhi, India
Operational Areas
Financial Services → Payments & Remittance Platforms
Key Metrics
  • Market Cap
    ₹1,722 Cr

    NUCLEUS · NSE

  • Share Price
    ₹646.95

    -1.12% today

  • Revenue
    ₹876 Cr

    FY 2025-26 · +5.3% YoY

  • EBITDA
    ₹104 Cr

    Margin 11.8%

  • Net Profit
    ₹113 Cr

    FY 2025-26 · -15.9% YoY

  • P/E (TTM)
    15.4x

    P/B 1.9x

  • ROE
    13.6%

    ROCE 16.5%

  • Debt / Equity
    0.01

    Interest cover 1.6x

  • Employee Count
    1,786

Board of directors of Nucleus Software Exports Limited (PaySe)

Nucleus Software Exports Limited is the primary company behind PaySe. The board of Nucleus Software Exports Limited currently have 8 directors; the longest-serving is Vishnu Rampratap Dusad, appointed in 1989. 14 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Vishnu Rampratap Dusad
DIN 00008412
Managing Director09 Jan 198937 yrs 9 moNucleus Software Exports Limited
Siddhartha Mahavir Acharya
DIN 00545141
Director19 Mar 201610 yrs 7 moNucleus Software Exports Limited
Ritika Dusad
DIN 07022867
Whole-time director20 Jul 201610 yrs 3 moNucleus Software Exports Limited
Parag Bhise
DIN 08719754
Whole-time director16 Mar 20206 yrs 7 moNucleus Software Exports Limited
Yasmin Javeri Krishan
DIN 08801422
Director30 Jul 20206 yrs 2 moNucleus Software Exports Limited
Prakash Chandra Kandpal
DIN 06452437
Director12 Feb 20242 yrs 8 moNucleus Software Exports Limited
Shekar Viswanathan
DIN 01202587
Director12 Feb 20242 yrs 8 moNucleus Software Exports Limited
Nitin Ramesh Gokarn
DIN 07619691
Director10 Feb 20268 moNucleus Software Exports Limited

People of PaySe

1 people are tracked at PaySe (1 in leadership); the tracked headcount is 1,786.

NameRoleGroup
Ashutosh Pande
FounderLeadership
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Complete people profiles for PaySe

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  • Team structure
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IPO & Listings of PaySe

PaySe is a publicly listed company on the NSE with ticker symbol NUCLEUS in India, operating in the IT - Software 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.

  • Listed onNSE: NUCLEUS
  • Listed entityNucleus Software Exports Limited
  • Exchange sectorIT - Software

Financials of PaySe

Exchange-reported figures of Nucleus Software Exports Limited, the listed company behind PaySe (NSE: NUCLEUS).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹876 Cr
+5.3% YoY
EBITDA
₹104 Cr
-38.4% YoY
Profit After Tax
₹113 Cr
-15.9% YoY
Net Worth
₹907 Cr
+11.5% YoY
Total Assets
₹975 Cr
+13.8% YoY
Total Debt
₹8.55 Cr
+327.5% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue876832826634497514521
Revenue growth+5.3%+0.7%+30.3%+27.6%-3.2%-1.4%-
EBITDA10416822015737.0312994.22
EBITDA margin+11.8%+20.2%+26.7%+24.7%+7.5%+25.2%+18.1%
Profit before tax15021925617155.50154117
Net profit11313416711226.2210284.76
Net profit margin+12.9%+16.1%+20.2%+17.6%+5.3%+19.9%+16.3%
EPS (₹)44.3461.9171.5747.7415.2840.6230.64
Balance sheet
Total assets975857813642521689577
Net worth907814777611494672561
Total debt8.552.004.596.262.336.306.32
Cash & bank12312373.9451.1156.0044.9088.34
Net working capital19.6025.87(8.42)26.49(46.37)(36.94)15.71
Cash flow
Cash from operations11715122249.8457.6711574.73
Cash from investing(51.41)(20.48)(197)(12.45)159(126)(28.41)
Cash from financing(36.50)(126)(30.16)(22.65)(213)(13.34)(34.07)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue210225220214218229206202
Revenue growth (YoY)-3.4%-1.8%+7.0%+5.6%+11.4%---
Other income27.6514.9215.1216.1617.9616.6215.5719.02
EBITDA7.9631.8614.3723.4133.9874.5033.2031.71
EBITDA margin+3.8%+14.2%+6.5%+11.0%+15.6%+32.5%+16.1%+15.7%
Depreciation5.144.934.333.833.403.413.583.94
Interest0.370.340.500.330.240.170.190.19
Profit before tax30.1041.5124.6635.4148.3087.5445.0046.60
Tax6.236.963.969.1213.1022.7710.0313.54
Net profit23.8734.5520.7026.2935.2064.7734.9733.06
EPS (₹)9.0713.127.869.9913.3724.6013.2812.35
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue806769766585448454444
Revenue growth+4.9%+0.3%+31.0%+30.5%-1.4%+2.3%-
EBITDA93.1116021415736.4112277.28
EBITDA margin+11.6%+20.8%+27.9%+26.9%+8.1%+26.9%+17.4%
Profit before tax15021624917356.86147129
Net profit11413316111427.3710599.88
Net profit margin+14.2%+17.3%+21.1%+19.6%+6.1%+23.1%+22.5%
EPS (₹)44.9361.4469.4648.7015.7338.5835.20
Balance sheet
Total assets938824783617493660557
Net worth875783749588469647542
Total debt7.901.913.985.850.773.265.49
Cash & bank94.8491.0646.4333.4135.3423.5873.93
Net working capital(16.86)(7.41)(38.58)2.32(72.90)(63.61)(4.23)
Cash flow
Cash from operations10213921251.9256.4110669.07
Cash from investing(32.78)(12.88)(197)(12.93)159(126)(9.36)
Cash from financing(35.93)(125)(28.92)(21.32)(211)(11.29)(31.92)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue194207202196201213189185
Revenue growth (YoY)-3.5%-2.9%+7.0%+6.0%+10.5%---
Other income27.5614.8014.9718.9624.2816.6115.2823.16
Total expenses187177192175169141160155
EBITDA6.3630.189.9321.4131.5971.6228.5730.19
EBITDA margin+3.3%+14.6%+4.9%+10.9%+15.7%+33.6%+15.1%+16.3%
Depreciation4.894.674.073.573.163.163.343.69
Interest0.280.280.420.250.170.120.140.14
Profit before tax28.7540.0320.4136.5552.5484.9540.3749.52
Tax5.806.582.998.7012.9521.759.5013.00

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 23 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue210225220214218229206202
Revenue growth (YoY)-3.4%-1.8%+7.0%+5.6%+11.4%---
Other income27.6514.9215.1216.1617.9616.6215.5719.02
EBITDA7.9631.8614.3723.4133.9874.5033.2031.71
EBITDA margin+3.8%+14.2%+6.5%+11.0%+15.6%+32.5%+16.1%+15.7%
Depreciation5.144.934.333.833.403.413.583.94
Interest0.370.340.500.330.240.170.190.19
Profit before tax30.1041.5124.6635.4148.3087.5445.0046.60
Tax6.236.963.969.1213.1022.7710.0313.54
Net profit23.8734.5520.7026.2935.2064.7734.9733.06
EPS (₹)9.0713.127.869.9913.3724.6013.2812.35
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue876832826634497514521
Revenue growth+5.3%+0.7%+30.3%+27.6%-3.2%-1.4%-
Other income64.1666.2650.9034.0634.6639.5637.23
Total expenses772664606478460384427
Employee cost589535491394394331322
EBITDA10416822015737.0312994.22
EBITDA margin+11.8%+20.2%+26.7%+24.7%+7.5%+25.2%+18.1%
Depreciation16.4914.8114.5518.7315.3813.8713.55
Interest1.410.750.951.020.811.221.12
Profit before tax15021925617155.50154117
Tax33.1456.0564.2043.2914.5935.8627.79
Net profit11313416711226.2210284.76
Net profit margin+12.9%+16.1%+20.2%+17.6%+5.3%+19.9%+16.3%
EPS (₹)44.3461.9171.5747.7415.2840.6230.64
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital26.3326.3326.7726.7726.7729.0429.04
Reserves & surplus881788751584467643532
Shareholders' funds (net worth)907814777611494672561
Minority interest0.000.000.000.000.000.000.00
Secured loans0.000.000.000.000.000.000.00
Unsecured loans8.552.004.596.262.336.306.32
Total debt8.552.004.596.262.336.306.32
Total liabilities975857813642521689577
Assets
Gross block17914313312011191.2489.76
Net block89.0761.0458.5250.4958.8349.8856.74
Capital work in progress0.080.250.680.810.460.520.26
Investments644641649525480635475
Inventories0.000.000.000.000.000.000.00
Sundry debtors12113716617583.1985.7190.24
Cash & bank balances12312373.9451.1156.0044.9088.34
Loans & advances53.9747.2244.0431.3730.2026.5223.10
Total current assets298307284257169157202
Total current liabilities279281293231216194186
Net working capital19.6025.87(8.42)26.49(46.37)(36.94)15.71
Total assets975857813642521689577
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash50.4645.8050.4935.7532.2756.7744.52
Net cash from operating activities11715122249.8457.6711574.73
Net cash from investing activities(51.41)(20.48)(197)(12.45)159(126)(28.41)
Net cash from financing activities(36.50)(126)(30.16)(22.65)(213)(13.34)(34.07)
Net change in cash29.554.66(4.69)14.743.48(24.50)12.25
Closing cash12312373.9451.1156.0044.9088.34
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+5.3%+0.7%+30.3%+27.6%-3.2%-1.4%-
EBITDA growth-38.5%-23.6%+40.6%+323.4%-71.4%+37.3%-
PBT growth-31.6%-14.4%+49.5%+208.3%-63.9%+31.7%+21.3%
Net income growth-15.9%-19.8%+49.1%+326.8%-74.4%+20.6%-
Revenue CAGR (3Y)+11.4%+18.7%+17.2%+6.8%+0.9%+7.6%+11.8%
EBITDA CAGR (3Y)-12.9%+65.7%+19.4%+18.5%-22.4%+30.1%+20.5%
Profitability & leverage
Net income margin+13.3%+19.6%+23.2%+20.1%+8.2%+23.0%+17.1%
Return on capital employed+16.5%+21.6%+30.8%+25.9%+6.0%+21.3%+21.6%
Return on net worth+13.6%+16.8%+24.0%+20.3%+4.5%+16.6%+16.6%
Debt / equity0.010.000.010.010.010.010.01
Long-term debt / equity0.000.000.000.000.000.000.00
Interest cover1.620.490.460.743.741.061.39
Efficiency & per share
Fixed asset turnover5.446.036.535.494.925.676.42
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover6.785.484.854.925.775.846.46
EPS (₹)44.3461.9171.5747.7415.2840.6230.64
Dividend per share (₹)12.5012.5012.5010.007.009.009.00
Book value per share (₹)344.64309.24290.41228.11184.39231.41193.14
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue194207202196201213189185
Revenue growth (YoY)-3.5%-2.9%+7.0%+6.0%+10.5%---
Other income27.5614.8014.9718.9624.2816.6115.2823.16
Total expenses187177192175169141160155
EBITDA6.3630.189.9321.4131.5971.6228.5730.19
EBITDA margin+3.3%+14.6%+4.9%+10.9%+15.7%+33.6%+15.1%+16.3%
Depreciation4.894.674.073.573.163.163.343.69
Interest0.280.280.420.250.170.120.140.14
Profit before tax28.7540.0320.4136.5552.5484.9540.3749.52
Tax5.806.582.998.7012.9521.759.5013.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue806769766585448454444
Revenue growth+4.9%+0.3%+31.0%+30.5%-1.4%+2.3%-
Other income73.0170.0449.4734.1634.0736.6363.75
Total expenses713609553428412332367
Employee cost515472427338336277267
EBITDA93.1116021415736.4112277.28
EBITDA margin+11.6%+20.8%+27.9%+26.9%+8.1%+26.9%+17.4%
Depreciation15.4713.8413.1617.0613.2311.4311.23
Interest1.120.550.720.770.390.770.75
Profit before tax15021624917356.86147129
Tax31.2254.0263.1743.0214.7634.4826.83
Net profit11413316111427.3710599.88
Net profit margin+14.2%+17.3%+21.1%+19.6%+6.1%+23.1%+22.5%
EPS (₹)44.9361.4469.4648.7015.7338.5835.20
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital26.3326.3326.7726.7726.7729.0429.04
Reserves & surplus848757722561443618513
Shareholders' funds (net worth)875783749588469647542
Secured loans0.000.000.000.000.000.000.00
Unsecured loans7.901.913.985.850.773.265.49
Total debt7.901.913.985.850.773.265.49
Total liabilities938824783617493660557
Assets
Gross block16412811410294.8874.0272.37
Net block75.6747.9244.6436.4343.3732.4941.30
Capital work in progress0.080.250.650.810.460.500.26
Investments659656664540494649489
Inventories0.000.000.000.000.000.000.00
Sundry debtors11312915716575.9180.9279.96
Cash & bank balances94.8491.0646.4333.4135.3423.5873.93
Loans & advances45.8043.4337.5125.0822.0120.8720.81
Total current assets254263241223133125175
Total current liabilities271271280221206189179
Net working capital(16.86)(7.41)(38.58)2.32(72.90)(63.61)(4.23)
Total assets938824783617493660557
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash18.8518.2932.8015.1311.0042.3914.60
Net cash from operating activities10213921251.9256.4110669.07
Net cash from investing activities(32.78)(12.88)(197)(12.93)159(126)(9.36)
Net cash from financing activities(35.93)(125)(28.92)(21.32)(211)(11.29)(31.92)
Net change in cash32.890.56(14.51)17.674.13(31.39)27.79
Closing cash94.8491.0646.4333.4135.3423.5873.93
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+4.9%+0.3%+31.0%+30.5%-1.4%+2.3%-
EBITDA growth-41.9%-25.0%+36.0%+331.4%-70.2%+58.0%-
PBT growth-30.7%-13.4%+43.7%+204.9%-61.2%+13.5%+38.0%
Net income growth-13.8%-17.8%+41.0%+318.0%-74.0%+5.2%-
Revenue CAGR (3Y)+11.3%+19.7%+19.0%+9.6%+4.1%+10.4%+14.1%
EBITDA CAGR (3Y)-16.0%+63.8%+20.5%+26.7%-15.6%+41.9%+29.5%
Profitability & leverage
Net income margin+14.7%+21.0%+24.3%+22.3%+9.4%+24.7%+23.0%
Return on capital employed+17.1%+22.1%+31.0%+27.6%+6.5%+24.2%+25.1%
Return on net worth+14.3%+17.3%+24.1%+21.6%+4.9%+18.9%+20.2%
Debt / equity0.010.000.010.010.000.010.01
Long-term debt / equity0.000.000.000.000.000.000.00
Interest cover1.440.380.360.551.680.701.14
Efficiency & per share
Fixed asset turnover5.526.337.085.945.316.216.95
Inventory turnover0.000.000.000.000.000.000.00
Debtors turnover6.665.374.764.865.715.656.30
EPS (₹)44.9361.4469.4648.7015.7338.5835.20
Dividend per share (₹)12.5012.5012.5010.007.009.009.00
Book value per share (₹)332.19297.50279.81219.61175.32222.78186.59

Similar companies to PaySe

PaySe has 3 listed similar companies in our database, 3 of them funded. They include Razorpay, Mintoak and Pine Labs.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
Razorpay
razorpay.com2014Bengaluru, India$741.62M2,641
Payment and business banking solutions are provided for enterprises.
Mintoak
mintoak.com2017Mumbai, India$24.71M140
Digital payments and engagement solutions are offered for MSMEs.
Pine Labs
pinelabs.com1998Noida, India$1.23B3,780
Omnichannel payment solutions, loyalty programs, and business tools are provided.
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Top companies in Payments & Remittance Platforms

3 companies that operate in the same segment as PaySe (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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Frequently Asked Questions about PaySe

PaySe was founded in 2015.

PaySe is headquartered in Noida, India. It is registered at Noida, Uttar Pradesh, India.

PaySe has 1,786 employees.

The primary company behind PaySe, Nucleus Software Exports Limited, reported revenue of ₹940 Cr for FY 2026, up 5% year on year.

PaySe was founded in 2015 in Noida, India, by Ashutosh Pande. Operations focus on the fintech sector, where offline and online digital cash solutions are provided to merchants. Services include a mobile wallet app available on Google Play for sending and receiving money, recharging mobiles and DTH, paying utility bills such as electricity and water, and enabling payment splitting. Customer payments are facilitated through cards or the app.

PaySe's top competitors include Razorpay, Mintoak and Pine Labs.

Yes, PaySe is publicly traded on NSE under the ticker symbol NUCLEUS.

PaySe operates through Nucleus Software Exports Limited.

The legal entities of PaySe currently have 10 directors, including Prakash Chandra Kandpal, Parag Bhise, Yasmin Javeri Krishan and others.

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