Share Price and Basic Stock Data
Last Updated: November 15, 2025, 11:08 pm
| PEG Ratio | 2.18 |
|---|
Analyst Insight & Comprehensive Analysis
Business Overview and Revenue Trends
Fino Payments Bank Ltd operates in the private sector banking industry, focusing on financial services and payment solutions. As of October 2023, the company’s stock price stood at ₹306, with a market capitalization of ₹2,546 Cr. The revenue trajectory has shown consistent growth, with reported revenues rising from ₹19 Cr in June 2022 to ₹37 Cr by September 2023. The latest data indicates revenues are expected to reach ₹41 Cr by March 2024 and ₹53 Cr by March 2025. This growth reflects a robust demand for digital payment solutions in India, supported by increasing smartphone penetration and a rising preference for cashless transactions. However, the company faces challenges, including high operational expenses, which rose from ₹271 Cr in June 2022 to ₹320 Cr in September 2023. The overall revenue growth aligns with the increasing trend towards digital banking, but the sustainability of this growth will depend on managing costs effectively.
Profitability and Efficiency Metrics
Fino Payments Bank reported a net profit of ₹86 Cr for the fiscal year ending March 2024, a significant improvement from the ₹65 Cr recorded in the previous year. The company’s profit before tax also showed a positive trend, rising from ₹65 Cr in March 2023 to ₹86 Cr in March 2024. However, the profitability ratios indicate room for improvement, with a return on equity (ROE) of 13.3% and a return on capital employed (ROCE) of 6.64%. The financing profit margin remained negative, recorded at -1,481% for the fiscal year ending March 2025, signaling challenges in managing funding costs relative to income. The net profit margin stood at 47.39% for March 2025, suggesting that while the company generates significant revenues, its cost structure may be hindering profitability. Overall, while net profit figures are encouraging, the negative financing margins and operational costs present ongoing challenges that need addressing for improved profitability.
Balance Sheet Strength and Financial Ratios
Fino Payments Bank’s balance sheet reflects a growing financial foundation, with total assets rising from ₹2,466 Cr in March 2023 to ₹4,206 Cr by March 2025. The company reported reserves of ₹664 Cr, which indicates a strong capital base supporting future growth. The equity capital remained stable at ₹83 Cr, while total liabilities increased, primarily due to rising borrowings, which stood at ₹839 Cr as of March 2025. The company’s price-to-earnings (P/E) ratio was recorded at 29.6, which is relatively high compared to typical sector ranges, suggesting that the market has high expectations for future growth. The price-to-book value (P/BV) ratio of 2.54 indicates that the stock is trading at a premium to its book value, reflecting investor confidence. However, the cost-to-income ratio at 93.79% signals potential inefficiencies in translating revenues into profits, indicating that while the balance sheet is strengthening, operational efficiency must be improved to enhance financial performance.
Shareholding Pattern and Investor Confidence
The shareholding pattern of Fino Payments Bank demonstrates a strong promoter backing, with promoters holding 75% of the total shares as of March 2025. This stability in ownership can instill confidence among investors. However, foreign institutional investments (FIIs) have decreased significantly from 9.26% in September 2022 to 2.54% by March 2025, indicating a potential decline in foreign interest. Domestic institutional investors (DIIs) also reduced their stake from 7.84% to 3.04% during the same period. Conversely, public shareholding rose from 7.91% to 19.43%, reflecting increased retail interest in the stock. The total number of shareholders decreased from 83,367 in September 2022 to 63,093 by June 2025, suggesting a consolidation in ownership. This mixed trend in shareholding indicates a need for the management to engage with institutional investors to boost confidence and attract further investments.
Outlook, Risks, and Final Insight
Fino Payments Bank is well-positioned to capitalize on the growing digital payment landscape in India, supported by its expanding revenue and robust market presence. However, the company faces risks, including fluctuating interest rates that could impact financing margins, and high operational costs that may hinder profitability. The decline in foreign and domestic institutional investment poses a challenge for maintaining stock liquidity and investor confidence. To address these risks, the bank must focus on improving operational efficiency and managing funding costs effectively. If successful, the company could leverage its strong promoter backing and increasing public interest to enhance its market position and drive future growth. In the absence of unforeseen regulatory changes or market disruptions, Fino Payments Bank has the potential to emerge as a significant player in the evolving financial services sector in India.
Source: Getaka Fundamental Analysis | Generated using proprietary financial data.
Competitors of Fino Payments Bank Ltd
| Stock Name ⇩ | Market Cap ⇩ | Current Price ⇩ | High / Low ⇩ | Stock P/E ⇩ | Book Value ⇩ | Dividend Yield ⇩ | ROCE ⇩ | ROE ⇩ | Face Value ⇩ |
|---|---|---|---|---|---|---|---|---|---|
| Fino Payments Bank Ltd | 2,347 Cr. | 282 | 372/180 | 29.2 | 90.5 | 0.00 % | 6.64 % | 13.3 % | 10.0 |
| ESAF Small Finance Bank Ltd | 1,389 Cr. | 26.9 | 43.0/24.3 | 33.9 | 0.00 % | 4.28 % | 23.5 % | 10.0 | |
| Capital Small Finance Bank Ltd | 1,217 Cr. | 269 | 331/250 | 9.00 | 307 | 1.49 % | 7.04 % | 10.4 % | 10.0 |
| Yes Bank Ltd | 70,595 Cr. | 22.5 | 24.3/16.0 | 24.9 | 15.7 | 0.00 % | 6.36 % | 5.46 % | 2.00 |
| Ujjivan Small Finance Bank Ltd | 10,040 Cr. | 51.8 | 54.6/30.8 | 24.1 | 32.2 | 0.00 % | 8.53 % | 12.4 % | 10.0 |
| Industry Average | 161,677.57 Cr | 413.28 | 18.36 | 240.10 | 0.61% | 6.84% | 11.80% | 6.48 |
Quarterly Result
| Metric | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 19 | 21 | 25 | 29 | 33 | 37 | 39 | 41 | 45 | 48 | 49 | 53 | 61 |
| Interest | 8 | 12 | 14 | 14 | 15 | 19 | 22 | 23 | 24 | 25 | 26 | 26 | 28 |
| Expenses | 271 | 278 | 281 | 287 | 314 | 320 | 326 | 353 | 389 | 404 | 407 | 438 | 400 |
| Financing Profit | -260 | -268 | -270 | -272 | -297 | -303 | -308 | -335 | -367 | -382 | -384 | -411 | -368 |
| Financing Margin % | -1,389% | -1,249% | -1,067% | -925% | -900% | -828% | -787% | -808% | -810% | -799% | -777% | -779% | -603% |
| Other Income | 270 | 282 | 289 | 294 | 315 | 322 | 331 | 360 | 392 | 408 | 412 | 441 | 392 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 10 | 14 | 19 | 22 | 19 | 20 | 23 | 25 | 24 | 26 | 28 | 30 | 25 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 18% | 19% | 19% | 28% |
| Net Profit | 10 | 14 | 19 | 22 | 19 | 20 | 23 | 25 | 24 | 21 | 23 | 24 | 18 |
| EPS in Rs | 1.21 | 1.66 | 2.30 | 2.65 | 2.25 | 2.35 | 2.74 | 3.03 | 2.92 | 2.54 | 2.78 | 2.88 | 2.13 |
| Gross NPA % | |||||||||||||
| Net NPA % |
Last Updated: August 19, 2025, 3:40 pm
Below is a detailed analysis of the quarterly data for Fino Payments Bank Ltd based on the most recent figures (Jun 2025) and their trends compared to the previous period:
- For Interest, as of Jun 2025, the value is 28.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 26.00 Cr. (Mar 2025) to 28.00 Cr., marking an increase of 2.00 Cr..
- For Expenses, as of Jun 2025, the value is 400.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 438.00 Cr. (Mar 2025) to 400.00 Cr., marking a decrease of 38.00 Cr..
- For Other Income, as of Jun 2025, the value is 392.00 Cr.. The value appears to be declining and may need further review. It has decreased from 441.00 Cr. (Mar 2025) to 392.00 Cr., marking a decrease of 49.00 Cr..
- For Depreciation, as of Jun 2025, the value is 0.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 0.00 Cr..
- For Profit before tax, as of Jun 2025, the value is 25.00 Cr.. The value appears to be declining and may need further review. It has decreased from 30.00 Cr. (Mar 2025) to 25.00 Cr., marking a decrease of 5.00 Cr..
- For Tax %, as of Jun 2025, the value is 28.00%. The value appears to be increasing, which may not be favorable. It has increased from 19.00% (Mar 2025) to 28.00%, marking an increase of 9.00%.
- For Net Profit, as of Jun 2025, the value is 18.00 Cr.. The value appears to be declining and may need further review. It has decreased from 24.00 Cr. (Mar 2025) to 18.00 Cr., marking a decrease of 6.00 Cr..
- For EPS in Rs, as of Jun 2025, the value is 2.13. The value appears to be declining and may need further review. It has decreased from 2.88 (Mar 2025) to 2.13, marking a decrease of 0.75.
Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.
Profit & Loss - Annual Report
Last Updated: November 15, 2025, 3:21 am
| Metric | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 16 | 19 | 18 | 20 | 36 | 95 | 150 | 195 | 223 |
| Interest | 3 | 6 | 10 | 10 | 15 | 47 | 79 | 101 | 108 |
| Expenses | 279 | 410 | 690 | 707 | 915 | 1,076 | 1,260 | 1,576 | 1,597 |
| Financing Profit | -266 | -396 | -682 | -697 | -895 | -1,028 | -1,189 | -1,481 | -1,481 |
| Financing Margin % | -1,716% | -2,068% | -3,760% | -3,441% | -2,512% | -1,084% | -792% | -759% | -664% |
| Other Income | 215 | 352 | 673 | 771 | 973 | 1,135 | 1,328 | 1,652 | 1,585 |
| Depreciation | 16 | 18 | 24 | 54 | 35 | 42 | 53 | 62 | 0 |
| Profit before tax | -67 | -62 | -32 | 20 | 43 | 65 | 86 | 108 | 104 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 15% | |
| Net Profit | -67 | -62 | -32 | 20 | 43 | 65 | 86 | 93 | 80 |
| EPS in Rs | -15.11 | -13.99 | -7.19 | 4.59 | 5.14 | 7.82 | 10.36 | 11.12 | 9.63 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
YoY Net Profit Growth
| Year | 2018-2019 | 2019-2020 | 2020-2021 | 2021-2022 | 2022-2023 | 2023-2024 | 2024-2025 |
|---|---|---|---|---|---|---|---|
| YoY Net Profit Growth (%) | 7.46% | 48.39% | 162.50% | 115.00% | 51.16% | 32.31% | 8.14% |
| Change in YoY Net Profit Growth (%) | 0.00% | 40.92% | 114.11% | -47.50% | -63.84% | -18.86% | -24.17% |
Fino Payments Bank Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2018-2019 to 2024-2025.
Growth
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 61% |
| 3 Years: | 76% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 29% |
| TTM: | -6% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 0% |
| 1 Year: | -40% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 13% |
| Last Year: | 13% |
Last Updated: September 5, 2025, 3:30 pm
No data available for the Balance Sheet data table.
Cash Flow - No data available for this post.
Financial Efficiency Indicators
| Month | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| ROE % | -32% | -22% | 15% | 14% | 13% | 14% | 13% |
Mutual Fund Holdings
| Fund Name | No of Shares | AUM (%) | Amount Invested (Cr) | Previous Number of Shares | Previous Date | Percentage Change |
|---|---|---|---|---|---|---|
| Motilal Oswal Balance Advantage Fund | 2,262,066 | 5.41 | 66.4 | 2,262,066 | 2025-04-22 17:25:12 | 0% |
| Motilal Oswal Focused Fund | 1,657,194 | 2.47 | 48.65 | 1,657,194 | 2025-04-22 17:25:12 | 0% |
| Tata Banking and Financial Services Fund | 543,000 | 0.72 | 15.94 | 543,000 | 2025-04-22 17:25:12 | 0% |
| Motilal Oswal Equity Hybrid Fund | 344,353 | 2.15 | 8.99 | 344,353 | 2025-04-22 17:25:12 | 0% |
| Motilal Oswal Multi Asset Fund | 207,622 | 5.99 | 6.09 | 207,622 | 2025-04-22 17:25:12 | 0% |
Key Financial Ratios
| Month | Mar 25 | Mar 24 | Mar 23 | Mar 22 | Mar 21 |
|---|---|---|---|---|---|
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Basic EPS (Rs.) | 11.12 | 10.36 | 7.82 | 5.34 | 4.59 |
| Diluted EPS (Rs.) | 11.08 | 10.36 | 7.82 | 5.34 | 4.59 |
| Cash EPS (Rs.) | 18.59 | 16.78 | 12.85 | 9.40 | 16.61 |
| Book Value[Excl.RevalReserv]/Share (Rs.) | 89.75 | 77.29 | 66.40 | 57.66 | 33.77 |
| Book Value[Incl.RevalReserv]/Share (Rs.) | 89.75 | 77.29 | 66.40 | 57.66 | 33.77 |
| Operating Revenue / Share (Rs.) | 23.46 | 18.03 | 11.40 | 4.28 | 4.54 |
| Net Profit / Share (Rs.) | 11.12 | 10.36 | 7.82 | 5.14 | 4.59 |
| Interest Income / Employee (Rs.) | 705057.42 | 559455.63 | 330770.22 | 123152.09 | 0.00 |
| Net Profit / Employee (Rs.) | 334180.93 | 321491.42 | 226942.12 | 147738.68 | 0.00 |
| Business / Employee (Rs.) | 7004711.81 | 5266998.14 | 3198269.87 | 1731531.28 | 0.00 |
| Interest Income / Branch (Rs.) | 25354597.40 | 19486493.51 | 12320116.88 | 8482833.33 | 0.00 |
| Net Profit / Branches (Rs.) | 12017493.51 | 11197922.08 | 8452857.14 | 10176380.95 | 0.00 |
| Business / Branches (Rs.) | 251896714.29 | 183455701.30 | 119125168.83 | 119269523.81 | 0.00 |
| Net Profit Margin (%) | 47.39 | 57.46 | 68.61 | 119.96 | 101.08 |
| Operating Profit Margin (%) | 5.29 | 6.16 | 5.50 | 4.30 | 2.61 |
| Return On Assets (%) | 2.20 | 2.52 | 2.63 | 2.54 | 2.02 |
| Return On Equity / Networth (%) | 12.38 | 13.40 | 11.77 | 8.90 | 13.59 |
| Net Interest Margin (X) | 2.25 | 2.08 | 1.92 | 1.20 | 1.06 |
| Cost To Income (%) | 93.79 | 93.79 | 94.49 | 95.69 | 96.86 |
| Interest Income / Total Assets (%) | 4.64 | 4.38 | 3.84 | 2.12 | 2.00 |
| Non-Interest Income / Total Assets (%) | 39.27 | 38.85 | 46.02 | 57.93 | 76.29 |
| Operating Profit / Total Assets (%) | -37.07 | -36.32 | -43.38 | -55.38 | -74.26 |
| Operating Expenses / Total Assets (%) | 38.94 | 38.39 | 45.30 | 56.59 | 74.92 |
| Interest Expenses / Total Assets (%) | 2.39 | 2.30 | 1.92 | 0.91 | 0.94 |
| Enterprise Value (Rs.Cr.) | 4494.66 | 4148.16 | 2826.76 | 2611.84 | 0.00 |
| EV Per Net Sales (X) | 23.02 | 27.65 | 29.80 | 73.31 | 0.00 |
| Price To Book Value (X) | 2.54 | 3.64 | 3.07 | 4.35 | 0.00 |
| Price To Sales (X) | 9.72 | 15.60 | 17.87 | 58.54 | 0.00 |
| Retention Ratios (%) | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 |
| Earnings Yield (X) | 0.04 | 0.03 | 0.03 | 0.02 | 0.00 |
After reviewing the key financial ratios for Fino Payments Bank Ltd, here is a detailed analysis based on the latest available data and recent trends:
- For Basic EPS (Rs.), as of Mar 25, the value is 11.12. This value is within the healthy range. It has increased from 10.36 (Mar 24) to 11.12, marking an increase of 0.76.
- For Diluted EPS (Rs.), as of Mar 25, the value is 11.08. This value is within the healthy range. It has increased from 10.36 (Mar 24) to 11.08, marking an increase of 0.72.
- For Cash EPS (Rs.), as of Mar 25, the value is 18.59. This value is within the healthy range. It has increased from 16.78 (Mar 24) to 18.59, marking an increase of 1.81.
- For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 89.75. It has increased from 77.29 (Mar 24) to 89.75, marking an increase of 12.46.
- For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 89.75. It has increased from 77.29 (Mar 24) to 89.75, marking an increase of 12.46.
- For Net Profit / Share (Rs.), as of Mar 25, the value is 11.12. This value is within the healthy range. It has increased from 10.36 (Mar 24) to 11.12, marking an increase of 0.76.
- For Net Profit Margin (%), as of Mar 25, the value is 47.39. This value exceeds the healthy maximum of 10. It has decreased from 57.46 (Mar 24) to 47.39, marking a decrease of 10.07.
- For Return On Assets (%), as of Mar 25, the value is 2.20. This value is below the healthy minimum of 5. It has decreased from 2.52 (Mar 24) to 2.20, marking a decrease of 0.32.
- For Retention Ratios (%), as of Mar 25, the value is 100.00. This value exceeds the healthy maximum of 70. There is no change compared to the previous period (Mar 24) which recorded 100.00.
Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.
Strength and Weakness
Unable to fetch valid data for stock valuation.Stock Analysis
- Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Fino Payments Bank Ltd:
- Net Profit Margin: 47.39%
- Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
- ROCE: 0% (Industry Average ROCE: 6.84%)
- ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
- ROE%: 0% (Industry Average ROE: 11.8%)
- ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
- Interest Coverage Ratio (Post Tax): 0
- Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
- Quick Ratio: 0
- Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
- Stock P/E: 29.2 (Industry average Stock P/E: 18.36)
- Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
- Total Debt / Equity: 0
- Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
Stock Rating: - Net Profit Margin: 47.39%
About the Company - Qualitative Analysis
| INDUSTRY | ADDRESS | CONTACT |
|---|---|---|
| Finance - Banks - Private Sector | Mindspace Juinagar, 8th Floor, New Mumbai Maharashtra 400706 | cs@finobank.com http://www.finobank.com |
| Management | |
|---|---|
| Name | Position Held |
| Mr. Rajat Kumar Jain | Part Time Chairman & Independent Director |
| Mr. Rishi Gupta | Managing Director & CEO |
| Mrs. Anita Sudhir Pai | Independent Director |
| Mrs. Deena Asit Mehta | Independent Director |
| Mr. Rakesh Bhartia | Independent Director |
| Mrs. Neeta Mukerji | Independent Director |
| Mr. Prateek Roongta | Nominee Director |
| Mr. Pankaj Kumar | Nominee Director |