Pine Labs Limited — Q2FY27 earnings call summary

Filed 04 November 2026 · Official transcript

EBITDA margin expected to expand in H2; sales team expansion costs impact near term
H2 outlook positive with investments in sales, gaming distribution, employee tax benefit card launch
Capex increased due to chip shortages and advance payments; normalized growth expected
UPI transactions on POS at 75-77%, growing ~70% y-y; plan to deploy 1 million soundboxes to capture missed UPI volumes
Management confident of exceeding 23-23.5% revenue growth guidance for FY27
Flow-based income grew 25% y-y; volumes up 50% driven by UPI market share gains
Online business gained top Q-commerce clients; new biller signed for Q3 launch
Indirect costs include cloud/data and marketing investments; GFF event costs cause quarter variability