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Swing Capital

Fino Payments Bank Ltd

NSE: FINOPB BSE: 543386IT / Software

Financial Inclusion Network Operations (“FINO”) is a growing fintech company offering a diverse range of financial products and services that are primarily digital and have a payments focus. It offers such products and services to the target market via a Pan-India distribution network.[1]

₹117
52W: ₹110 — ₹339
PE 17.4 · Book ₹92.6 · +26% vs book
Market Cap₹972 Cr
Stock P/E17.4Price to Earnings
ROCE4.53%Return on Capital
ROE7.37%Return on Equity
Div. Yield0%Face Value ₹10

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has low interest coverage ratio.
  • −Company has a low return on equity of 11.4% over last 3 years.
  • −Earnings include an other income of Rs.1,335 Cr.

Shareholding Pattern

Promoters75%
FIIs1.33%
DIIs0.4%
Public23.27%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75%75%75%75%75%75%75%75%
FIIs5.12%4.21%▼0.93.7%▼0.54.08%▲0.42.54%▼1.52.67%▲0.12.69%▲0.01.33%▼1.4
DIIs5.99%6.14%▲0.16.08%▼0.13.52%▼2.63.04%▼0.53.35%▲0.30.45%▼2.90.4%▼0.0
Public13.9%14.65%▲0.815.22%▲0.617.41%▲2.219.43%▲2.019%▼0.421.87%▲2.923.27%▲1.4

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales0000000000
Expenses325.81353.02388.7404.43407.24437.8400.47351.21344.45305.71
Operating Profit0000000000
OPM %0%0%0%0%0%0%0%0%0%0%
Net Profit22.825.2124.2721.1523.112417.7615.3512.257.1
EPS ₹2.743.032.922.542.782.882.131.841.470.85

AI Insights

Revenue Trend

Mar 2026 revenue at ₹0Cr, up 0% YoY. OPM at 0%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 0.4% (-5.08pp change). FIIs: 1.33% (-4.96pp change). Promoters hold 75%.

Margin & Efficiency

ROCE improving from 0% (Mar 2018) to 0% (Mar 2026). Working capital days: 0.

Valuation

PE 17.4x with 4.53% ROCE. Price is 26% above book value of ₹92.6. Dividend yield: 0%.

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