Synopsis :- Fintech stock jumped 4% after signing multi-year contracts with India’s top three Oil Marketing Companies to deploy 130,000 digital payment devices and manage loyalty programs, enhancing nationwide digital transaction experiences.
A small-cap company that is a leading Indian merchant commerce platform that provides point-of-sale (POS) solutions, payment processing, and merchant financing services has come into focus after signing a multi year contract.
With the market capitalization of Rs. 23,943.861 crore, the shares of Pine Labs Limited were trading at Rs. 208.52, up by 3.21 percent from its previous day’s close price of Rs. 202.04 per equity share. The stock has touched an intraday high of Rs. 210.30, implying an increase of 4.1 percent from previous day’s close price.
Pine Labs has secured landmark multi-year contracts from India’s top three Oil Marketing Companies; Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited, and Indian Oil Corporation Limited. These agreements position Pine Labs to modernize and manage digital payments infrastructure across petrol pumps and merchant outlets nationwide.
Deployment of Digital Payments Infrastructure
Under these contracts, Pine Labs will be responsible for deploying, managing, and maintaining approximately 130,000 digital payment acceptance devices across India. This large-scale rollout ensures that petrol stations and merchant outlets can provide customers with fast, secure, and seamless payment experiences using cards, mobile apps, UPI, and RFID solutions.
Management of Loyalty Programs
For Indian Oil Corporation Limited, Pine Labs will additionally manage the XTRAPOWER loyalty rewards platform, widely used by fleet operators across the country. The platform integrates fuel management, fleet analytics, trip tracking, and secure Chip-and-PIN payment systems, allowing fleet operators to efficiently manage operations while earning rewards.
These contracts leverage Pine Labs Limited’s expertise in digital payments to modernize India’s fuel retail ecosystem. By managing both payments and loyalty programs, Pine Labs aims to make transactions faster, more reliable, and digitally seamless for millions of consumers and fleet operators across India.
About the Company & Financial
Pine Labs Limited, founded in 1998 and based in Gurugram, is a technology company offering digital payments and issuing solutions to merchants, consumer brands, enterprises, and financial institutions across India, Southeast Asia, the UAE, Australia, the U.S., and Africa. It operates through two main segments: Digital Infrastructure and Transaction Platform.
The Company Ltd reported strong Q3FY26 results, with revenue of Rs. 744 crore, up 23.6 percent YoY from Rs. 602 crore in Q3FY25 and 14.5 percent QoQ from Rs. 650 crore in Q2FY26. The growth was driven by higher sales across its core business segments.
EBITDA surged to Rs. 132 crore, marking a significant 71.4 percent YoY increase from Rs. 77 crore in Q3FY25 and a 76.0 percent QoQ rise from Rs. 75 crore in Q2FY26, reflecting improved operational efficiency and better cost management.
Net profit turned positive at Rs. 42 crore, compared to a loss of Rs. 57 crore in Q3FY25 and increased by 600 percent from Rs. 6 crore in Q2FY26, highlighting a strong turnaround. The company’s focus on high-margin projects and improved execution contributed to the recovery in profitability.
Q3 Highlights
In Q3, Pine Labs expanded its footprint by launching in-store payments and affordability solutions in Singapore, serving retailers such as iStudio, Samsung, and Courts. The company secured over 100 new marquee clients across its offerings, including Honeywell, Carrier, Philips, Mumbai Duty Free, Waymo, Miniso, Blinkit, and Caribbean Airlines.
It strengthened its product suite with additions like Agentic bill payments, mAadhaar, Apple Pay, and Subscription UPI Autopay, while also launching co-branded prepaid programs in partnership with expense management platforms such as Zoho and Pazy.
On the scale front, Pine Labs’ platform Gross Transaction Value (GTV) grew 29 percent year-on-year to $50.6 Bn (Rs. 4.5 lakh Cr), recording the highest quarterly volumes for both its Digital Infrastructure & Transaction Platform and Issuing & Acquiring Platform segments. The total number of transactions rose 23 percent YoY to 192.6 Cr, reflecting deeper engagement and increased frequency of platform usage across its client base.
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
