FINOPB - Fino Payments Bank Limited Share Price

Banks

₹243.05-3.15(-1.28%)

Market Closed as of May 2, 2025, 15:30 IST

What does Fino Payments Bank Limited do?

Other Bank•Financial Services•Small Cap

Fino Payments Bank Limited provides various types of financial services in India. It operates through four segments: Treasury, Corporate Banking, Retail Banking, and Other Banking Operations. The company offers savings and current accounts, sweep account facility, fixed deposit services, and loan referral services; and debit and prepaid cards. It also provides recharge, bill payment, payment system, cash management, digital payment, merchant, and domestic money transfer services; mobile banking services; FASTag products; unified payments interface facility; remittances; and cash bazar, AADHAAR seeding, and micro ATM services. In addition, the company offers health, life, motor, and shopkeeper insurance products; and third party financial products distribution and business correspondent banking services. The company was formerly known as Fino Fintech Limited and changed its name to Fino Payments Bank Limited in April 2017. Fino Payments Bank Limited was founded in 2006 and is based in Navi Mumbai, India. Fino Payments Bank Limited operates as a subsidiary of FINO PayTech Limited.

Industry Group:Banks

Employees:2,682

Website:www.finobank.com

Summary of Latest Earnings Report from Fino Payments Bank

Summary of Fino Payments Bank's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Feb 25

Management provided a positive outlook, emphasizing strong growth in digital services, customer acquisition, and operational efficiency. Key highlights include:

Financial Performance: Q3 FY25 revenue grew 25% YoY to Rs.461 crore, with PBT up 25% to Rs.28.5 crore. Digital throughput now contributes 50% of total transactions, driven by UPI adoption.
Digital Expansion: Digital payments revenue surged nearly 4x YoY to Rs.109.7 crore. UPI market share rose to 1.61% (Dec '24 vs 1.22% in Dec '23). Focus on enhancing UPI stack and B2B partnerships (e.g., UPI Collect, PPI services).
CASA Growth: Added 8.3 lakh new CASA accounts in Q3 (total 1.34 crore), with 70% active. Average deposits rose 39% YoY to Rs.1,890 crore. Launched "Gullak" savings product to attract higher-value customers.
CMS & AePS: CMS revenue grew 11% YoY (Rs.40.7 crore), driven by NBFC/MFI clients. AePS revenue rose 34% YoY (Rs.31.6 crore) despite ecosystem challenges.
Tech Investments: Invested Rs.120 crore YTD in technology (core banking migration, cybersecurity, UPI infrastructure). Targeting cost-income ratio optimization (25.9% in Q3 vs 27% YoY).
SFB License: Engaged with RBI for small finance bank (SFB) license; groundwork underway for product/digital readiness post-approval.
Regulatory Impact: Open banking remittance revenue declined ~5% due to new KYC norms but minimal profit impact. Focus on converting off-us users to on-us via CASA.

Outlook: Management targets sustained 25%+ revenue growth, driven by digital/CASA expansion, merchant monetization, and tech scalability. Emphasis on customer ownership, partnerships, and SFB transition to enhance product offerings (e.g., deposits, loans).

Q&A Session

Last updated: Feb 25

Question 1:
"In your opening remarks, I think you mentioned that you've invested about INR120 crores so far in FY '25 and about INR80 crores in the previous year. Can you share some details on where these investments have gone in and what type of accounting treatment are we doing there?"
Answer Summary:
Investments focused on technology, including Hollow-The-Core initiatives, CBS migration, UPI switch development, and cybersecurity. Capex expenses are depreciated over 5 years (hardware) or 3 years (software).

Question 2:
"My second question is on digital payments business. How do you see the growth trajectory"”revenue growth trajectory over, say, 2-, 3-year period? What type of CAGR can we expect?"
Answer Summary:
Digital payments (24% of revenue) are a key growth driver, with 4x YoY growth. While no specific CAGR guidance is provided, management expects momentum to continue, driven by India's digitalization and strategic partnerships.

Question 3:
"Compared to previous few quarters, the addition in the merchant network has slowed down. Could you please elaborate?"
Answer Summary:
Merchant additions slowed due to ecosystem saturation, shift to digital transactions, and focus on avoiding cannibalization of existing merchants' income. Emphasis now on enhancing activity per merchant rather than expanding numbers.

Question 4:
"This quarter saw a spike in digital throughput (INR47,400 crores to INR59,000 crores). Is there something specific that happened?"
Answer Summary:
Growth attributed to festival-season demand, onboarding of new partners in September, and a risk-calibrated approach to balancing volume growth with fraud prevention.

Question 5:
"Can you share updates on the SFB (Small Finance Bank) license?"
Answer Summary:
RBI has engaged with the bank and formed an external committee for application review. Preparations for SFB operations (technology, distribution) are underway, targeting readiness within a year of approval.

Question 6:
"Can you share CASA revenue breakup from new subscriptions and clarify merchant activity trends?"
Answer Summary:
CASA subscription revenue for Q3 was ~INR26 crore. Own merchants (8 lakh) focus on activity ratios (40% active), with plans to expand product offerings per merchant rather than mere count.

Question 7:
"How will you sustain 25% revenue growth amid market shifts? What is the cost-to-income ratio outlook?"
Answer Summary:
Growth sustainability tied to digital/CASA momentum and operational leverage. Cost-to-income ratio improved to 25.9% (vs. 27% YoY) via tech-driven efficiencies, with disciplined cost management to continue.

Question 8:
"What new digital products/partnerships are planned?"
Answer Summary:
Expanding B2B services (UPI Collect, IMPS/NEFT payouts, B2B POS) and B2C features (UPI Autopay, UPI Credit). PPI partnerships and AI-driven solutions to enhance efficiency.

Question 9:
"Why have borrowings increased despite healthy deposits?"
Answer Summary:
Borrowings relate to treasury operations (call money lines) under RBI guidelines, not asset funding. The bank remains well-capitalized with strong internal accruals.

Question 10:
"What caused the remittance take rate increase, and will it persist?"
Answer Summary:
Take rate rise driven by market dynamics and regulatory changes (stricter KYC). Rates expected to remain range-bound despite temporary impacts from ecosystem shifts.

Question 11:
"How does CASA economics compare to remittance?"
Answer Summary:
CASA offers higher margins (50% first-year margin) vs. remittance (4-5%) due to cross-selling potential, float income, and customer ownership. Migration from remittance to CASA is a strategic priority.

Question 12:
"What is the digital revenue breakdown?"
Answer Summary:
Digital revenue (~17 bps of throughput) includes B2B pay-in services (avg. take rate ~20 bps) and indirect benefits from B2C UPI-driven customer stickiness. Expansion into new B2B products expected to boost growth.

Pros

Growth: Good revenue growth. With NA% growth over past three years, the company is going strong.

Balance Sheet: Strong Balance Sheet.

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Technicals: Bullish SharesGuru indicator.

Cons

Smart Money: Smart money is losing interest in the stock.

Dividend: Stock hasn't been paying any dividend.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Sector Comparison: FINOPB vs Banks

Comprehensive comparison against sector averages

Comparative Metrics

FINOPB metrics compared to Banks

Category	FINOPB	Banks
PE	21.43	13.57
PS	1.14	1.89
Growth	25.3 %	12.3 %

Performance Comparison

FINOPB vs Banks (2022 - 2025)

Key Insights

1. FINOPB is NOT among the Top 10 largest companies in Banks.
2. The company holds a market share of 0.1% in Banks.
3. In last one year, the company has had an above average growth that other Banks companies.

Share Holdings

Understand Fino Payments Bank ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
Fino Paytech Limited	75%
MOTILAL OSWAL DYNAMIC FUND	2.2%
ENVISION INDIA FUND	1.74%
FIDELITY FUNDS - INDIA FOCUS FUND	1.25%
RAJEEV ARORA	0%
RISHI GUPTA	0%
SHAILESH B PANDEY	0%
AMIT KUMAR JAIN	0%
ASHISH AHUJA	0%
VIPRRAJ BHARDWAJ	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Investor Care
Shares Dilution (1Y)	0.00%
Diluted EPS (TTM)	11.22

Financial Health
Debt/Equity	0.00
Debt/Cashflow	0.00

Valuation
Market Cap	2.01 kCr
Price/Earnings (Trailing)	21.43
Price/Sales (Trailing)	1.14
EV/EBITDA	9.97
Price/Free Cashflow	49.34
MarketCap/EBT	19.33

Fundamentals
Revenue (TTM)	1.75 kCr
Rev. Growth (Yr)	24.62%
Rev. Growth (Qtr)	1.3%
Earnings (TTM)	93.74 Cr
Earnings Growth (Yr)	1.36%
Earnings Growth (Qtr)	9.27%

Profitability
Operating Margin	5.92%
EBT Margin	5.92%
Return on Equity	2.66%
Return on Assets	0.00%
Free Cashflow Yield	2.03%

Cash Flow for Fino Payments Bank

Standalone figures (in Rs. Crores)

Profit Before Extraord. Items And Tax	32.8%
Depreciation	26.8%
Share-based payments	-48.7%
Total adjustments to profit/loss	19.2%
Change in trade receivables	99.4%
Change in trade payables	-100.9%
Adjustments for Provisions	-277.3%
Total adj. for working capital	34.3%
Net Cashflows From Operations	327.7%
Income taxes paid (refund)	77.7%
Net Cashflows From Operating Activities	365.3%
Proceeds from sales of tangible assets	-40.6%
Purchase of tangible assets	10.8%
Net Cashflows From Investing Activities	-7.4%
Proceeds from issuing shares	-
Proceeds from borrowings	51.9%
Net Cashflows From Financing Activities	51.9%
Net change in cash and cash eq.	244.8%

Balance Sheet for Fino Payments Bank

Standalone figures (in Rs. Crores)

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Total assets	1031730000%	35,264,700,000	3,419	3,050	2,466	2,346	1,680
Cash balances with RBI	-70.3%	95	317	88	220	87	224
Investments	8.9%	1,903	1,747	1,712	1,146	1,270	631
Advances	8.6%	0.15	0.07	0.1	0.12	0.14	0.24
Fixed assets	23.7%	241	195	169	145	103	93
Other assets	16.8%	480	411	412	341	281	189
Capital	0%	83	83	83	83	83	83
Reserves and surplus	8.6%	608	560	509	469	425	397
Deposits	1.7%	1,437	1,413	1,005	917	634	501
Borrowings	11.7%	796	713	1,023	434	743	250
Other liabilities and provisions	-7.5%	602	651	431	563	461	450
Total capital and liabilities	3.1%	3,526	3,419	3,050	2,466	2,346	1,680

Income Statement for Fino Payments Bank

Standalone figures (in Rs. Crores)

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Interest or discount on advances or bills	-1%	0	0.01	0	0	0.01	0
Revenue on investments	2.8%	38	37	37	33	30	28
Interest on balances with RBI and others	10%	12	11	7.67	8.25	8.73	8.5
Other interest	-	0	0	0.19	0.32	0	0.01
Total interest earned	2.1%	49	48	45	41	39	37
Other income	1%	412	408	392	360	331	322
Total income	1.3%	461	455	437	401	370	359
Total expenditure	0.9%	433	429	413	376	347	338
Interest expended	4.2%	26	25	24	23	22	19
Employees cost	4.1%	52	50	50	46	44	44
Other operating expenses	0%	355	355	339	307	282	276
Operating expenses	0.7%	407	404	389	353	326	320
Operating profit	8%	28	26	24	25	23	20
Provisions other than tax and contingencies	-	0	0	0	0	0	0.56
Profit before tax	8%	28	26	24	25	23	20
Tax expense	14.8%	5.34	4.78	0	0.08	0	0
Profit after tax	10%	23	21	24	25	23	20
Net profit (loss) for the period	10%	23	21	24	25	23	20
Reserve excluding revaluation reserves	-	-	-	-	545	-	-
CET 1 ratio	-56.7%	0.6113	0.752	0.7631	0.7896	0.76	0.7788
Return on assets	-	001	0	001	001	073	0

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Interest or discount on advances or bills	0%	0.01	0.01	0.02
Revenue on investments	74.2%	116	67	23
Interest on balances with RBI and others	32%	34	26	12
Other interest	-141.6%	0.33	2.61	0.01
Total interest earned	58.5%	150	95	36
Other income	17%	1,328	1,135	973
Total income	20.2%	1,478	1,230	1,009
Total expenditure	19.5%	1,392	1,165	966
Interest expended	69.6%	79	47	15
Employees cost	13.5%	177	156	133
Other operating expenses	18%	1,135	962	818
Operating expenses	17.6%	1,313	1,117	951
Operating profit	34.4%	87	65	43
Provisions other than tax and contingencies	-	0.56	0	0
Profit before tax	32.8%	86	65	43
Tax expense	-	0.08	0	0
Profit after tax	32.8%	86	65	43
Net profit (loss) for the period	32.8%	86	65	43
CET 1 ratio	-50.8%	0.7896	0.8605	1
Return on assets	-	003	0	0.0254

Is Fino Payments Bank Better than it's peers?

Detailed comparison of Fino Payments Bank against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
SBICARD	SBI CARDS AND PAYMENT SERVICESNon Banking Financial Company(NBFC)	83.67 kCr	18.28 kCr	+2.63%	+20.58%	43.66	4.49	+6.59%	-20.41%
PAYTM	One 97 CommunicationsFinancial Technology (Fintech)	53.1 kCr	7.89 kCr	+1.85%	+123.82%	-79.36	6.73	-3.73%	+13.86%
AUBANK	AU Small Finance BankOther Bank	50.36 kCr	16.98 kCr	+25.55%	+4.82%	23.91	2.7	+51.43%	+37.22%
UJJIVANSFB	Ujjivan Small Finance BankOther Bank	8.14 kCr	7.12 kCr	+22.17%	-23.80%	8.38	1.14	+17.47%	-22.91%
EQUITASBNK	Equitas Small Finance BankOther Bank	7.28 kCr	7.04 kCr	+12.82%	-32.74%	23.29	1.03	+17.43%	-60.00%

FINOPB - Fino Payments Bank Limited Share Price

What does Fino Payments Bank Limited do?

Summary of Latest Earnings Report from Fino Payments Bank

Sector Comparison: FINOPB vs Banks

Comparative Metrics

Performance Comparison

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Revenue Breakdown

Investor Care

Financial Health

Valuation

Fundamentals

Profitability

Cash Flow for Fino Payments Bank

Balance Sheet for Fino Payments Bank

Income Statement for Fino Payments Bank

Is Fino Payments Bank Better than it's peers?

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)