India's Most Valuable Companies 2023 edition · Source: Hurun India
Rank#165- Valuation
- ₹26,100 Cr
2022 #100 2021 #183
Market Cap
₹18,294 Cr
PINELABS · NSE
Share Price
₹161.58
+1.99% today
Revenue
₹2,711 Cr
FY 2025-26 · +19.2% YoY
EBITDA
₹355 Cr
Margin 13.1%
Net Profit
₹115 Cr
FY 2025-26 · +200.5% YoY
P/E (TTM)
146.1x
P/B 3.2x
ROE
2.3%
ROCE 3.9%
Debt / Equity
0.15
Interest cover 99.2x
About Pine Labs Limited.
Data last updated:
Pine Labs Limited. is a public limited company based in Gurgaon, Haryana, India, a subsidiary of Pine Labs Limited. It operates in the IT consulting and support services segment of the technology and IT services sector. It was incorporated on 18 May 1998 and has been in existence for over 28 years.
Pine Labs Limited is part of the Nifty 500 index.
The company is registered with the Registrar of Companies (ROC), Haryana, under CIN L67100HR1998PLC113312. Its GSTIN is 06AACCP7457K1Z1 (Haryana). The company holds 28 GST registrations, of which 26 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 544606 and NSE: PINELABS.
The company has an authorised share capital of ₹205.88 Cr and a paid-up capital of ₹115.47 Cr. It is led by directors including Bairavarasu Amrish Rau (Managing Director) and Kush Mehra (Whole-Time Director).
Its last annual general meeting (AGM) was held on 16 September 2026, and its latest financial statements are for the year ended 31 March 2026. The registered office is at Gurgaon, Haryana.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹2,710.59 Cr, a growth of 19.2% compared to the previous year. For the same year it recorded a net profit of ₹114.66 Cr (net margin 4.2%) and EBITDA of ₹354.98 Cr (EBITDA margin 13.1%). The net worth stands at ₹5,895.41 Cr (up 68.1% YoY). Total assets are valued at ₹6,414.07 Cr (up 41% YoY).
The company has about 3,346 employees on its provident fund (EPFO) records.
The company is associated with 3 brands: Pine Labs, QwikCilver and Fave India. As per MCA filings, the company has open charges of ₹805.5 Cr and satisfied charges of ₹460.58 Cr on record. Court records list 52 cases involving the company, including 23 filed by the company and 29 filed against it; 18 cases are pending. The company has 46 deals on record (27 secondary share transfers, 9 rights issues, 5 market trades), with disclosed funding of ₹132.62 Cr; the latest was in September 2026. The company has 9 MSME Form 1 returns on record between 2019 and 2023, listing 46 overdue payments to 24 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website pinelabs.com.
Company details
CIN L67100HR1998PLC113312
Registration Number 113312
Incorporation Date 18 May 1998
ROC Haryana
Listing Status Listed - Listed on NSE (PINELABS); Listed on BSE (544606)
Company Status Active
Date of Last AGM 16 September 2026
Date of Balance Sheet 31 March 2026
Parent Company Pine Labs Limited
Compliance Status Active Compliant
CIN history
Pine Labs Limited has 4 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L67100HR1998PLC113312, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L67100HR1998PLC113312 | Current |
| U67100HR1998PLC113312 | Previous |
| U67100DL1998PTC093878 | Previous |
| U67100HR1998PTC113312 | Previous |
| U65910DL1998PTC093878 | Previous |
Key People
Bairavarasu Amrish Rau Managing Director Kush Mehra Whole-Time Director Maninder Singh Juneja Director Recognitions & Rankings of Pine Labs Limited
Stock market indices
Nifty 500
Contact details
Pine Labs Limited.'s registered office is in Dlf Qe, Haryana.
- Social Media
- Apps
- Registered AddressUnit No. 408 4th Floor, Time Tower Mg Road, Gurgaon, Haryana, India – 122002
- IndustryInformation Technology, IT Consulting & Support Services
Comprehensive company report
Pine Labs Limited. - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Pine Labs Limited operates multiple associated brands including Pine Labs, QwikCilver, and Fave India. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Omnichannel payment solutions, loyalty programs, and business tools are provided. | pinelabs.com | |
| Gift card and store value solutions are provided to businesses. | qwikcilver.com | |
| Online platform offering rewards and cashback on multi-category products and services | myfave.in |
Financials of Pine Labs Limited.
FY 2025-26 filings availablePine Labs Limited. reported revenue of ₹2,710.59 Cr (up 19.2% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹2,711 Cr
+19.2% YoY
EBITDA
₹355 Cr
+95.2% YoY
Profit After Tax
₹115 Cr
+200.5% YoY
Net Worth
₹5,895 Cr
+68.1% YoY
Total Assets
₹6,414 Cr
+41.0% YoY
Total Debt
₹441 Cr
-54.6% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,711 | 2,274 | 1,770 | 1,598 | 932 | 670 | 848 |
| Revenue growth | +19.2% | +28.5% | +10.8% | +71.4% | +39.2% | -21.0% | - |
| EBITDA | 355 | 182 | (24.96) | (31.48) | 112 | 110 | 87.08 |
| EBITDA margin | +13.1% | +8.0% | -1.4% | -2.0% | +12.1% | +16.4% | +10.3% |
| Profit before tax | 137 | (136) | (398) | (289) | (74.51) | (74.10) | (67.93) |
| Net profit | 115 | (114) | (343) | (230) | (24.37) | (56.00) | (47.11) |
| Net profit margin | +4.2% | -5.0% | -19.4% | -14.4% | -2.6% | -8.4% | -5.6% |
| EPS (₹) | 0.98 | (1,515.49) | (3,561.49) | (16,571.56) | (1.67) | (4.34) | (3.95) |
| Balance sheet | |||||||
| Total assets | 6,414 | 4,548 | 4,283 | 4,438 | 2,241 | 1,454 | 1,304 |
| Net worth | 5,895 | 3,506 | 3,542 | 3,739 | 1,913 | 1,191 | 1,047 |
| Total debt | 441 | 970 | 654 | 438 | 236 | 191 | 176 |
| Cash & bank | 8,226 | 6,033 | 5,235 | 5,120 | 3,773 | 2,563 | 1,770 |
| Net working capital | 4,011 | 2,091 | 1,765 | 1,755 | 712 | 266 | 93.90 |
| Cash flow | |||||||
| Cash from operations | 395 | 49.72 | (229) | (152) | (78.85) | 111 | 10.57 |
| Cash from investing | (2,045) | (486) | (22.13) | (441) | (443) | (260) | 112 |
| Cash from financing | 1,972 | (201) | (220) | 2.34 | 1,644 | 823 | 1,431 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 737 | 701 | 744 | 650 | 616 | 599 | 602 | 552 |
| Revenue growth (YoY) | +19.7% | +17.0% | +23.7% | +17.8% | +17.9% | - | - | - |
| Other income | 28.95 | 49.86 | 35.45 | 23.01 | 37.17 | 11.91 | 6.35 | 21.96 |
| EBITDA | 94.89 | 106 | 120 | 75.29 | 44.65 | 56.60 | 40.34 | 32.46 |
| EBITDA margin | +12.9% | +15.2% | +16.1% | +11.6% | +7.2% | +9.5% | +6.7% | +5.9% |
| Depreciation | 73.30 | 70.89 | 68.13 | 65.87 | 65.24 | 69.20 | 76.25 | 74.74 |
| Interest | 12.81 | 16.95 | 24.49 | 21.27 | 21.42 | 21.52 | 21.66 | 17.98 |
| Profit before tax | 37.73 | 68.41 | 62.55 | 11.16 | (4.84) | (22.21) | (51.22) | (38.30) |
| Tax | 18.16 | 9.05 | 20.16 | 5.19 | (9.63) | 6.70 | 5.45 | (6.29) |
| Net profit | 19.57 | 59.36 | 42.39 | 5.97 | 4.79 | (28.91) | (56.67) | (32.01) |
| EPS (₹) | 0.17 | 0.51 | 0.38 | 0.06 | 0.05 | (0.28) | (0.57) | (0.32) |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 1,926 | 1,597 | 1,333 | 1,281 | 932 | 650 | 664 |
| Revenue growth | +20.6% | +19.8% | +4.1% | +37.4% | +43.4% | -2.2% | - |
| EBITDA | 274 | 177 | 104 | 151 | 112 | 97.70 | 57.88 |
| EBITDA margin | +14.2% | +11.1% | +7.8% | +11.8% | +12.1% | +15.0% | +8.7% |
| Profit before tax | 179 | 36.12 | (240) | (74.67) | (74.46) | (74.08) | (45.57) |
| Net profit | 152 | (2.38) | (189) | (58.74) | (24.32) | (59.18) | (33.15) |
| Net profit margin | +7.9% | -0.2% | -14.1% | -4.6% | -2.6% | -9.1% | -5.0% |
| EPS (₹) | 1.31 | 280.20 | (2.23) | (4.02) | (1.67) | (4.34) | (2.78) |
| Balance sheet | |||||||
| Total assets | 6,785 | 4,849 | 2,688 | 2,643 | 2,241 | 1,455 | 1,262 |
| Net worth | 6,358 | 3,939 | 2,045 | 2,184 | 1,913 | 1,191 | 1,060 |
| Total debt | 371 | 848 | 575 | 390 | 236 | 191 | 147 |
| Cash & bank | 8,071 | 5,899 | 4,838 | 4,417 | 3,773 | 2,563 | 155 |
| Net working capital | 3,683 | 1,974 | 1,136 | 951 | 712 | 266 | 18.53 |
| Cash flow | |||||||
| Cash from operations | 490 | 11.15 | (33.99) | (38.04) | (78.87) | 109 | 99.74 |
| Cash from investing | (2,152) | (431) | (36.95) | (261) | (443) | (256) | (973) |
| Cash from financing | 1,985 | (195) | (79.06) | 935 | 1,644 | 823 | 893 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 535 | 515 | 548 | 435 | 427 | 416 | 432 | 377 |
| Revenue growth (YoY) | +25.2% | +24.0% | +27.1% | +15.3% | +14.6% | - | - | - |
| Other income | 48.01 | 65.33 | 50.42 | 21.17 | 43.89 | 61.91 | 34.88 | 29.39 |
| Total expenses | 460 | 426 | 456 | 394 | 390 | 365 | 370 | 362 |
| EBITDA | 75.45 | 89.34 | 92.85 | 40.84 | 37.53 | 51.02 | 61.43 | 14.87 |
| EBITDA margin | +14.1% | +17.3% | +16.9% | +9.4% | +8.8% | +12.3% | +14.2% | +3.9% |
| Depreciation | 54.49 | 51.31 | 48.48 | 46.72 | 45.70 | 49.44 | 54.73 | 49.90 |
| Interest | 10.43 | 13.52 | 19.83 | 18.29 | 18.75 | 19.18 | 19.47 | 16.01 |
| Profit before tax | 58.54 | 89.84 | 74.96 | (3.00) | 16.97 | 44.31 | 22.11 | (21.65) |
| Tax | 14.88 | 22.55 | 18.33 | (0.80) | (11.19) | 6.60 | 6.88 | (6.74) |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 737 | 701 | 744 | 650 | 616 | 599 | 602 | 552 |
| Revenue growth (YoY) | +19.7% | +17.0% | +23.7% | +17.8% | +17.9% | - | - | - |
| Other income | 28.95 | 49.86 | 35.45 | 23.01 | 37.17 | 11.91 | 6.35 | 21.96 |
| EBITDA | 94.89 | 106 | 120 | 75.29 | 44.65 | 56.60 | 40.34 | 32.46 |
| EBITDA margin | +12.9% | +15.2% | +16.1% | +11.6% | +7.2% | +9.5% | +6.7% | +5.9% |
| Depreciation | 73.30 | 70.89 | 68.13 | 65.87 | 65.24 | 69.20 | 76.25 | 74.74 |
| Interest | 12.81 | 16.95 | 24.49 | 21.27 | 21.42 | 21.52 | 21.66 | 17.98 |
| Profit before tax | 37.73 | 68.41 | 62.55 | 11.16 | (4.84) | (22.21) | (51.22) | (38.30) |
| Tax | 18.16 | 9.05 | 20.16 | 5.19 | (9.63) | 6.70 | 5.45 | (6.29) |
| Net profit | 19.57 | 59.36 | 42.39 | 5.97 | 4.79 | (28.91) | (56.67) | (32.01) |
| EPS (₹) | 0.17 | 0.51 | 0.38 | 0.06 | 0.05 | (0.28) | (0.57) | (0.32) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,711 | 2,274 | 1,770 | 1,598 | 932 | 670 | 848 |
| Revenue growth | +19.2% | +28.5% | +10.8% | +71.4% | +39.2% | -21.0% | - |
| Other income | 137 | 52.82 | 54.61 | 92.78 | 25.49 | 13.47 | 17.72 |
| Total expenses | 2,356 | 2,092 | 1,795 | 1,629 | 820 | 560 | 761 |
| Employee cost | 1,069 | 984 | 887 | 895 | 448 | 311 | 283 |
| EBITDA | 355 | 182 | (24.96) | (31.48) | 112 | 110 | 87.08 |
| EBITDA margin | +13.1% | +8.0% | -1.4% | -2.0% | +12.1% | +16.4% | +10.3% |
| Depreciation | 270 | 292 | 363 | 315 | 189 | 175 | 155 |
| Interest | 84.13 | 78.96 | 64.46 | 35.73 | 23.67 | 22.19 | 17.96 |
| Profit before tax | 137 | (136) | (398) | (289) | (74.51) | (74.10) | (67.93) |
| Tax | 24.77 | 9.10 | (55.66) | (24.31) | (51.89) | (18.25) | (20.67) |
| Net profit | 115 | (114) | (343) | (230) | (24.37) | (56.00) | (47.11) |
| Net profit margin | +4.2% | -5.0% | -19.4% | -14.4% | -2.6% | -8.4% | -5.6% |
| EPS (₹) | 0.98 | (1,515.49) | (3,561.49) | (16,571.56) | (1.67) | (4.34) | (3.95) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 115 | 75.48 | 75.48 | 75.40 | 13.53 | 12.87 | 11.98 |
| Reserves & surplus | 5,781 | 3,403 | 3,443 | 3,640 | 1,746 | 1,178 | 1,035 |
| Shareholders' funds (net worth) | 5,895 | 3,506 | 3,542 | 3,739 | 1,913 | 1,191 | 1,047 |
| Minority interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Secured loans | 283 | 829 | 533 | 330 | 236 | 189 | 126 |
| Unsecured loans | 158 | 141 | 121 | 109 | 0.32 | 1.50 | 50.69 |
| Total debt | 441 | 970 | 654 | 438 | 236 | 191 | 176 |
| Total liabilities | 6,414 | 4,548 | 4,283 | 4,438 | 2,241 | 1,454 | 1,304 |
| Assets | |||||||
| Gross block | 3,265 | 2,997 | 3,039 | 3,028 | 1,550 | 1,349 | 1,239 |
| Net block | 1,856 | 1,825 | 1,920 | 2,103 | 1,019 | 980 | 1,017 |
| Capital work in progress | 148 | 160 | 222 | 269 | 122 | 47.77 | 52.28 |
| Investments | 27.87 | 30.20 | 21.29 | 17.77 | 49.56 | 34.40 | 40.18 |
| Inventories | 31.85 | 30.10 | 28.00 | 39.87 | 11.76 | 3.55 | 3.27 |
| Sundry debtors | 1,042 | 845 | 652 | 589 | 296 | 360 | 214 |
| Cash & bank balances | 8,226 | 6,033 | 5,235 | 5,120 | 3,773 | 2,563 | 1,770 |
| Loans & advances | 1,584 | 1,333 | 1,185 | 885 | 650 | 451 | 252 |
| Total current assets | 10,884 | 8,241 | 7,100 | 6,634 | 4,732 | 3,378 | 2,239 |
| Total current liabilities | 6,874 | 6,150 | 5,335 | 4,880 | 4,019 | 3,112 | 2,145 |
| Net working capital | 4,011 | 2,091 | 1,765 | 1,755 | 712 | 266 | 93.90 |
| Total assets | 6,414 | 4,548 | 4,283 | 4,438 | 2,241 | 1,454 | 1,304 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 951 | 882 | 1,026 | 1,547 | 2,307 | 1,632 | 78.99 |
| Net cash from operating activities | 395 | 49.72 | (229) | (152) | (78.85) | 111 | 10.57 |
| Net cash from investing activities | (2,045) | (486) | (22.13) | (441) | (443) | (260) | 112 |
| Net cash from financing activities | 1,972 | (201) | (220) | 2.34 | 1,644 | 823 | 1,431 |
| Net change in cash | 322 | (637) | (471) | (591) | 1,122 | 674 | 1,554 |
| Closing cash | 8,226 | 6,033 | 5,235 | 5,120 | 3,773 | 2,563 | 1,770 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +19.2% | +28.5% | +10.8% | +71.4% | +39.2% | -21.0% | - |
| EBITDA growth | +95.2% | +828.5% | +20.7% | -128.0% | +2.4% | +26.0% | - |
| PBT growth | +9998.0% | +65.7% | -37.4% | -288.5% | -0.6% | -9.1% | +9997.0% |
| Net income growth | +200.5% | +66.8% | -49.0% | -845.2% | +56.5% | -18.9% | - |
| Revenue CAGR (3Y) | +19.3% | +34.6% | +38.2% | +23.5% | - | - | - |
| EBITDA CAGR (3Y) | - | +17.4% | - | - | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | +4.2% | -6.4% | -19.3% | -16.6% | -2.4% | -8.3% | -5.6% |
| Return on capital employed | +3.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Return on net worth | +2.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 0.15 | 0.23 | 0.15 | 0.12 | 0.14 | 0.16 | 0.17 |
| Long-term debt / equity | 0.03 | 0.05 | 0.07 | 0.06 | 0.06 | 0.09 | 0.09 |
| Interest cover | 99.15 | -71.62 | -16.62 | -10.31 | -31.01 | -33.94 | -26.53 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.87 | 0.75 | 0.58 | 0.70 | 0.64 | 0.52 | 0.68 |
| Inventory turnover | 87.51 | 78.29 | 52.15 | 61.89 | 121.79 | 196.46 | 259.24 |
| Debtors turnover | 2.87 | 3.04 | 2.85 | 3.61 | 2.84 | 2.33 | 3.96 |
| EPS (₹) | 0.98 | (1,515.49) | (3,561.49) | (16,571.56) | (1.67) | (4.34) | (3.95) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 51.34 | 35,454.02 | 35,862.74 | 2,27,510.50 | 130.09 | 92.55 | 87.44 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 535 | 515 | 548 | 435 | 427 | 416 | 432 | 377 |
| Revenue growth (YoY) | +25.2% | +24.0% | +27.1% | +15.3% | +14.6% | - | - | - |
| Other income | 48.01 | 65.33 | 50.42 | 21.17 | 43.89 | 61.91 | 34.88 | 29.39 |
| Total expenses | 460 | 426 | 456 | 394 | 390 | 365 | 370 | 362 |
| EBITDA | 75.45 | 89.34 | 92.85 | 40.84 | 37.53 | 51.02 | 61.43 | 14.87 |
| EBITDA margin | +14.1% | +17.3% | +16.9% | +9.4% | +8.8% | +12.3% | +14.2% | +3.9% |
| Depreciation | 54.49 | 51.31 | 48.48 | 46.72 | 45.70 | 49.44 | 54.73 | 49.90 |
| Interest | 10.43 | 13.52 | 19.83 | 18.29 | 18.75 | 19.18 | 19.47 | 16.01 |
| Profit before tax | 58.54 | 89.84 | 74.96 | (3.00) | 16.97 | 44.31 | 22.11 | (21.65) |
| Tax | 14.88 | 22.55 | 18.33 | (0.80) | (11.19) | 6.60 | 6.88 | (6.74) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 1,926 | 1,597 | 1,333 | 1,281 | 932 | 650 | 664 |
| Revenue growth | +20.6% | +19.8% | +4.1% | +37.4% | +43.4% | -2.2% | - |
| Other income | 172 | 143 | 41.64 | 46.98 | 25.49 | 33.17 | 14.51 |
| Total expenses | 1,652 | 1,421 | 1,230 | 1,130 | 820 | 552 | 607 |
| Employee cost | 753 | 729 | 625 | 607 | 448 | 306 | 213 |
| EBITDA | 274 | 177 | 104 | 151 | 112 | 97.70 | 57.88 |
| EBITDA margin | +14.2% | +11.1% | +7.8% | +11.8% | +12.1% | +15.0% | +8.7% |
| Depreciation | 197 | 213 | 328 | 239 | 189 | 183 | 102 |
| Interest | 70.39 | 70.50 | 57.62 | 33.53 | 23.67 | 22.16 | 16.06 |
| Profit before tax | 179 | 36.12 | (240) | (74.67) | (74.46) | (74.08) | (45.57) |
| Tax | 28.89 | 8.10 | (53.00) | (18.56) | (51.89) | (18.25) | (12.27) |
| Net profit | 152 | (2.38) | (189) | (58.74) | (24.32) | (59.18) | (33.15) |
| Net profit margin | +7.9% | -0.2% | -14.1% | -4.6% | -2.6% | -9.1% | -5.0% |
| EPS (₹) | 1.31 | 280.20 | (2.23) | (4.02) | (1.67) | (4.34) | (2.78) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 115 | 75.48 | 84.00 | 13.96 | 13.53 | 12.87 | 11.98 |
| Reserves & surplus | 6,243 | 3,836 | 1,961 | 2,171 | 1,747 | 1,178 | 1,048 |
| Shareholders' funds (net worth) | 6,358 | 3,939 | 2,045 | 2,184 | 1,913 | 1,191 | 1,060 |
| Secured loans | 251 | 731 | 477 | 307 | 236 | 189 | 95.89 |
| Unsecured loans | 119 | 118 | 97.91 | 83.03 | 0.32 | 1.50 | 50.69 |
| Total debt | 371 | 848 | 575 | 390 | 236 | 191 | 147 |
| Total liabilities | 6,785 | 4,849 | 2,688 | 2,643 | 2,241 | 1,455 | 1,262 |
| Assets | |||||||
| Gross block | 1,922 | 1,730 | 1,813 | 1,874 | 1,550 | 1,349 | 497 |
| Net block | 977 | 942 | 985 | 1,115 | 1,019 | 980 | 328 |
| Capital work in progress | 82.58 | 134 | 201 | 251 | 122 | 47.77 | 52.28 |
| Investments | 1,746 | 1,420 | 16.39 | 12.78 | 49.57 | 34.41 | 761 |
| Inventories | 19.95 | 15.15 | 22.73 | 20.88 | 11.76 | 3.55 | 3.27 |
| Sundry debtors | 822 | 665 | 504 | 481 | 296 | 360 | 97.62 |
| Cash & bank balances | 8,071 | 5,899 | 4,838 | 4,417 | 3,773 | 2,563 | 155 |
| Loans & advances | 1,463 | 1,324 | 986 | 793 | 650 | 451 | 184 |
| Total current assets | 10,377 | 7,903 | 6,351 | 5,712 | 4,732 | 3,378 | 440 |
| Total current liabilities | 6,694 | 5,929 | 5,215 | 4,761 | 4,019 | 3,112 | 422 |
| Net working capital | 3,683 | 1,974 | 1,136 | 951 | 712 | 266 | 18.53 |
| Total assets | 6,785 | 4,849 | 2,688 | 2,643 | 2,241 | 1,455 | 1,262 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 823 | 821 | 391 | 3,428 | 2,307 | 1,630 | 78.99 |
| Net cash from operating activities | 490 | 11.15 | (33.99) | (38.04) | (78.87) | 109 | 99.74 |
| Net cash from investing activities | (2,152) | (431) | (36.95) | (261) | (443) | (256) | (973) |
| Net cash from financing activities | 1,985 | (195) | (79.06) | 935 | 1,644 | 823 | 893 |
| Net change in cash | 322 | (616) | (150) | 635 | 1,122 | 676 | 19.49 |
| Closing cash | 8,071 | 5,899 | 4,838 | 4,417 | 3,773 | 2,563 | 155 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +20.6% | +19.8% | +4.1% | +37.4% | +43.4% | -2.2% | - |
| EBITDA growth | +54.8% | +70.7% | -31.2% | +34.0% | +15.1% | +68.8% | - |
| PBT growth | +394.9% | +9998.0% | -221.6% | -0.3% | -0.5% | -62.6% | +9997.0% |
| Net income growth | +6465.6% | +98.7% | -220.9% | -141.5% | +58.9% | -78.5% | - |
| Revenue CAGR (3Y) | +14.6% | +19.7% | +27.1% | +24.5% | - | - | - |
| EBITDA CAGR (3Y) | +22.0% | +16.3% | +2.0% | +37.5% | - | - | - |
| Profitability & leverage | |||||||
| Net income margin | +7.8% | +1.8% | -14.0% | -4.4% | -2.4% | -8.6% | -5.0% |
| Return on capital employed | +3.1% | +1.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Return on net worth | +2.0% | -0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Debt / equity | 0.12 | 0.24 | 0.23 | 0.15 | 0.14 | 0.15 | 0.14 |
| Long-term debt / equity | 0.02 | 0.06 | 0.10 | 0.08 | 0.06 | 0.09 | 0.09 |
| Interest cover | 91.57 | -192.36 | -25.70 | -38.05 | -31.03 | -26.04 | -36.48 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 1.06 | 0.90 | 0.72 | 0.75 | 0.64 | 0.70 | 1.34 |
| Inventory turnover | 109.75 | 84.34 | 61.14 | 78.46 | 121.79 | 190.60 | 203.18 |
| Debtors turnover | 2.59 | 2.73 | 2.71 | 3.30 | 2.84 | 2.84 | 6.81 |
| EPS (₹) | 1.31 | 280.20 | (2.23) | (4.02) | (1.67) | (4.34) | (2.78) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 55.37 | 38,362.50 | 24.34 | 156.48 | 130.10 | 92.55 | 88.51 |
To see the full year-wise statements and ratios of Pine Labs Limited., buy the company report.
Board of directors of Pine Labs Limited.
Pine Labs Limited has 6 current directors and 24 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Kush Mehra Also directs: Plai Technology Private Limited | Whole-Time Director | 29 Sep 2018 | 8 Years 0 Months | Current |
| Bairavarasu Amrish Rau | Managing Director | 24 Mar 2025 | 1 Years 6 Months | Current |
| Maninder Singh Juneja Also directs: Capvisor Consultants LLP, Integrace Private Limited | Director | 24 Mar 2025 | 1 Years 6 Months | Current |
| Amrita Gangotra Also directs: Ityukt Digital Solutions LLP, United Spirits Limited, Triveni Turbine Limited and 5 more | Director | 24 Mar 2025 | 1 Years 6 Months | Current |
| Smita Chandramani Kumar | Director | 24 Mar 2025 | 1 Years 6 Months | Current |
| Shailendra Jit Singh | Director | 13 Jun 2025 | 1 Years 4 Months | Current |
Charges & borrowings
Open charges
₹805.5 Cr
Satisfied charges
₹460.58 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 21 Sep 2023 | 100795923 | Citi Bank N.A. | ₹130 Cr | Open | |
| 21 Sep 2023 | 100796408 | Others | ₹100 Cr | Open | |
| 29 Nov 2022 | 100652431 | Others | ₹5 Cr | Open | |
| 18 Nov 2022 | 100651305 | Axis Bank Limited | ₹124 Cr | Open | |
| 25 Apr 2022 | 100571027 | Others | ₹20 Cr | Open |
To see the full charge records of Pine Labs Limited., buy the company report.
Total charge records: 15 View all charges
Deals & funding
Pine Labs Limited. has 46 deals on record (27 secondary share transfers, 9 rights issues, 5 market trades), with disclosed funding of ₹132.62 Cr; the latest was in September 2026.
Total deals
46
Secondary share transfers
27
Rights issues
9
Market trades
5
Funding rounds
4
Disclosed funding
₹132.62 Cr
Deals on record (5 of 46)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2026 | Market trade | ₹933.57 Cr | Buyer: Icici Prudential Life Insurance Company Limited , Citigroup Global Markets Singapore Pte Limited, an individual Seller: Mastercard Asia/Pacific Pte. Ltd. |
| Sep 2026 | Market trade | ₹933.57 Cr | Buyer: Icici Prudential Life Insurance Company Limited , Citigroup Global Markets Singapore Pte Limited, Edelweiss Mutual Fund, an individual Seller: Mastercard Asia/Pacific Pte. Ltd. |
| Sep 2026 | Secondary share transfer | Undisclosed | Buyer: Icici Prudential Life Insurance Company Limited , Societe Generale, Goldman Sachs Private Equity Seller: Alpha Wave Global |
| May 2026 | Secondary share transfer | Undisclosed | Buyer: Morgan Stanley Investment Management, Icici Prudential Life Insurance Company Limited Seller: Madison India Capital Advisors Private Limited |
| Nov 2025 | IPO | ₹3,899.91 Cr | Investors: Icici Prudential Life Insurance Company Limited , Morgan Stanley Investment Management, Saraswati Commercial (India) Ltd Seller: Peak XV Partners (Sequoia India and SEA), Actis Advisors, Macritchie Investments Pte. Ltd. |
To see the full deal history of Pine Labs Limited., buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Pine Labs Limited. has 52 court cases on record: 23 filed by Pine Labs Limited, 29 filed against it. 18 cases are pending and 34 are disposed.
Total cases
52
Filed by the company
23
Filed against the company
29
Pending
18
Disposed
34
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 39 | 21 | 16 |
| District courts | 8 | 7 | 2 |
| NCLAT | 3 | 0 | 0 |
| NCLT | 2 | 1 | 0 |
Cases on record (5 of 52)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court of Delhi | Writ petition | Filed against the company by Sharksphere Components Pvt Ltd | Pending |
| High Court of Delhi | Writ petition | Filed against the company by Shopnetic Global Services Pvt Ltd | Pending |
| High Court of Delhi | Court case (O.M.P.(MISC.)(COMM.)) | Filed by the company against M/S Oyo Hotels and Homes Private Limited | Pending |
| High Court of Karnataka | Interim or miscellaneous application | Filed by the company against Manipal Health Enterprises Pvt Ltd and 2 others | Pending |
| High Court, TAMIL NADU | Court case (CMA(PT)) | Filed against the company by Innoviti Technologies Pvt Ltd., M/S.K and S Partneer, Pramod Kumar ,Shatadal Ghosh ,Srihari Sk,K.Muthu Selvam ,Sanjeev Kumar Tiwari | Pending |
To see the full case history of Pine Labs Limited., buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Pine Labs Limited. has 9 MSME Form 1 returns on record between 2019 and 2023, listing 46 overdue payments to 24 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 24)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Mda & Co. | |||
| Cimmons Integrated Services Private Limited | |||
| an individual supplier | |||
| Atc Energies System Limited | |||
| Tandem Allied Services Private Limited |
To see the full MSME payment records of Pine Labs Limited., buy the company report.
Individuals and sole proprietors among the suppliers are not named.
GST
Pine Labs Limited has 28 GST registrations: 26 active and 2 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
28
Active
26
Cancelled / inactive
2
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 06AACCP7457K1Z1 | Haryana | Active | 31 Jan 2018 |
| 09AACCP7457K1ZV | Uttar Pradesh | Active | 01 Jul 2017 |
| 07AACCP7457K1ZZ | Delhi | Active | 08 Jul 2017 |
| 19AACCP7457K1ZU | West Bengal | Active | 08 Jul 2017 |
To see the full GST registrations and return filing status of Pine Labs Limited., buy the company report.
Recent activity
Pine Labs Limited. has 29 board changes on record since 2007: 6 appointments and 23 cessations. The latest: Bharat Singh ceased to be Additional Director on 21 Jun 2025.
AGM
Pine Labs Limited. last Annual general meeting of members was held on 16 Sep 2026 as per latest MCA records.
Charges
A charge with Others of Rs. 20.00 Cr registered on 25 Apr 2022 with Charge ID 100571027 was modified on 16 Jul 2026.
Charges
A charge registered on 29 Sep 2022 via Charge ID 100619298 with Others was fully satisfied on 08 Jul 2026.
Charges
A charge registered on 25 Apr 2022 via Charge ID 100571169 with Others was fully satisfied on 08 Jul 2026.
Filing
Pine Labs Limited. has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Haryana.
Charges
A charge registered on 18 Sep 2025 via Charge ID 101163274 with Axis Bank Limited was fully satisfied on 31 Jan 2026.
Charges
A charge with Citi Bank N.A. of Rs. 130.00 Cr registered on 21 Sep 2023 with Charge ID 100795923 was modified on 06 Jan 2026.
Charges
A charge with Axis Bank Limited of Rs. 124.00 Cr registered on 18 Nov 2022 with Charge ID 100651305 was modified on 26 Dec 2025.
Charges
A charge with Axis Bank Limited amounted to Rs. 100.00 Cr with Charge ID 101163274 was registered on 18 Sep 2025.
Charges
A charge with Others of Rs. 14.69 Cr registered on 29 Sep 2022 with Charge ID 100619298 was modified on 09 Sep 2025.
Charges
A charge with Others of Rs. 8.89 Cr registered on 25 Apr 2022 with Charge ID 100571169 was modified on 09 Sep 2025.
Ceased
Bharat Singh ceased to be Additional Director.
52 earlier events are in the company report.
News
Pine Labs: Extends Five-Year Tech Partnership With Woolworths Group
From our blog
Frequently asked questions
Pine Labs Limited is an active public limited company based in Gurgaon, Haryana, India. The company works in IT consulting and support services, within the information technology industry. It was incorporated on 18 May 1998 (28+ years old) and is registered under CIN L67100HR1998PLC113312. Listed on BSE: 544606 and NSE: PINELABS.
Pine Labs Limited reported revenue of ₹2,710.59 Cr for FY 2025-26 (up 19.2% YoY) based on consolidated financials.
Pine Labs Limited has 6 current directors:
- Bairavarasu Amrish Rau - Managing Director
- Kush Mehra - Whole-Time Director
- Maninder Singh Juneja - Director
- Amrita Gangotra - Director
- Smita Chandramani Kumar - Director
- Shailendra Jit Singh - Director
The latest financial statements of Pine Labs Limited on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 16 September 2026. Year-wise statements from 2015 are in the company report.
The GSTIN of Pine Labs Limited is 06AACCP7457K1Z1, registered in Haryana. The company has 28 GST registrations in all, of which 26 are active and 2 are cancelled or inactive. Other active GSTINs include 09AACCP7457K1ZV (Uttar Pradesh), 07AACCP7457K1ZZ (Delhi), 19AACCP7457K1ZU (West Bengal).
The CIN (Corporate Identification Number) of Pine Labs Limited is L67100HR1998PLC113312. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Pine Labs Limited is a listed company as per MCA records. Its shares are listed on both BSE (code: 544606) and NSE (symbol: PINELABS).
Pine Labs Limited has 52 court cases on record: 23 filed by the company and 29 filed against it. 18 are pending. Most are in the high courts.
Pine Labs Limited was incorporated on 18 May 1998, making it 28+ years old. It is registered with the Registrar of Companies, Haryana.
Pine Labs Limited has 46 deals on record (27 secondary share transfers, 9 rights issues, 5 market trades), with disclosed funding of ₹132.62 Cr; the latest was in September 2026.
Bharat Singh ceased to be Additional Director on 21 Jun 2025. Shailendra Jit Singh was appointed as Director on 13 Jun 2025. Amrita Gangotra ceased to be Additional Director on 15 May 2025. Pine Labs Limited has 29 board changes on record in total.