Integrated Filing — IndAS



General information about company

Scrip Code 544606
NSE Symbol PINELABS
MSEI Symbol NOTLISTED
ISIN INE15B701018
Name of company PINE LABS LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 28-01-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 20-01-2026
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Third quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment As per IND AS 108 - Operating Segments, the Group has two reportable segments namely Digital infrastructure and transaction platform and Issuing and acquiring platform. The Group has disclosed the segment information only as part of the consolidated financial results.
Start date and time of board meeting 28-01-2026   12:40:00
End date and time of board meeting 28-01-2026   14:10:00
Whether cash flow statement is applicable on company
Type of cash flow statement
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
NA



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
1 Income
Revenue from operations 54,840.00 1,41,067.00
Other income 5,042.00 11,548.00
Total income 59,882.00 1,52,615.00
2 Expenses
(a) Cost of materials consumed 0.00 0.00
(b) Purchases of stock-in-trade 4,830.00 7,239.00
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade (73.00) 31.00
(d) Employee benefit expense 18,880.00 58,199.00
(e) Finance costs 1,983.00 5,687.00
(f) Depreciation, depletion and amortisation expense 4,848.00 14,090.00
(f) Other Expenses
1 Transaction and related costs 7,479.00 17,597.00
2 Impairment of non-current assets 97.00 249.00
3 Impairment losses on financial assets and contract assets 691.00 2,345.00
4 Other expenses 12,569.00 37,203.00
Total other expenses 20,836.00 57,394.00
Total expenses 51,304.00 1,42,640.00
3 Total profit before exceptional items and tax 8,578.00 9,975.00
4 Exceptional items (1,082.00) (1,082.00)
5 Total profit before tax 7,496.00 8,893.00
6 Tax expense
7 Current tax 0.00 0.00
8 Deferred tax 1,833.00 634.00
9 Total tax expenses 1,833.00 634.00
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 5,663.00 8,259.00
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 5,663.00 8,259.00
17 Other comprehensive income net of taxes (143.00) 317.00
18 Total Comprehensive Income for the period 5,520.00 8,576.00
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 11,483.00 11,483.00
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.51 0.79
Diluted earnings (loss) per share from continuing operations 0.5 0.77
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.51 0.79
Diluted earnings (loss) per share from continuing and discontinued operations 0.5 0.77
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) EPS is not annualised for the quarter and nine months period ended 31 December 2025 and 31 December 2024 and quarter ended 30 September 2025. 1. The above standalone financial results of Pine Labs Limited (formerly known as Pine Labs Private Limited) (the Company) and consolidated financial results of Pine Labs Limited (formerly known as Pine Labs Private Limited) (the Company) and its subsidiaries (together referred to as the Group) and its associate have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards ('Ind AS') prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, as amended (Listing Regulations). 2. The standalone and consolidated financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meeting held on 28 January 2026. The statutory auditors have carried out a limited review of the financial results of the quarter and nine months period ended 31 December 2025. 3. As per IND AS 108 - Operating Segments, the Group has two reportable segments namely Digital infrastructure and transaction platform and Issuing and acquiring platform. The Group has disclosed the segment information only as part of the consolidated financial results. 4. The Company's equity shares were listed on the National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) on 14 November 2025. Thus, this statement of unaudited standalone and consolidated financial results for the quarter and nine months period ended 31 December 2025, is prepared in compliance with Regulation 33 of the Listing Regulations. 5. During the quarter ended 31 December 2025, the Company has completed an initial public offering (IPO) comprising fresh issue of 9,41,29,524 equity shares with a face value of INR 1 each aggregating to INR 2,080.00 crores and sale of 8,23,48,779 equity shares by certain existing shareholders of the Company amounting to INR 1,819.91 crores. 6. The Company has received an amount of INR 1,998.37 crores as net proceeds which is disclosed in Financial results refer Pdf attached. 7.The figures for the corresponding quarter ended 31 December 2024 and corresponding nine months period ended 31 December 2024 as reported in the statement have been approved by the Company's Board of Directors but have not been subjected to limited review, since the requirement of submission of quarterly standalone and consolidated financial results is applicable on listing of equity shares of the Company effective from the quarter ended 30 September 2025. 8.Exceptional items includes: During the quarter ended 31 December 2024 and year ended 31 March 2025, exceptional items in the consolidated financial results includes impairment of goodwill amounting to INR 28.46 crores and impairment of intangibles amounting to INR 8.12 crores acquired at the time of acquisition of Consumer App business. Basis internal management evaluation considering the recoverable value is less than the carrying value on account of reduced operations, technology obsolescence and marketability etc, the Group recorded such impairment. One-time impact of New Labour Codes : Effective 21 November 2025, The Government of India has consolidated multiple existing labour legislations into a unified framework comprising four Labour Codes collectively referred to as the 'New Labour Codes'. Under Ind AS 19, changes to employee benefit plans arising from legislative amendments, requiring recognition of past service cost immediately in the statement of profit and Loss. The New Labour Codes has resulted in estimated one time increase in provision for employee benefits of the Group and the Company of INR 12.22 crores and INR 10.82 crores, respectively. The Group and Company has presented such incremental impact under “Exceptional items” in the consolidated and standalone financial results of the quarter and nine months period ended 31 December 2025. The Government is in the process of notifying related rules to the New Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified. 9. Details of Employee Stock Option for the quarter and nine months period ended 31 December 2025 are as follows: a) Employee Stock Option Plan - Erstwhile Pine Labs Limited, Singapore (Erstwhile Holding Company) up to 06 June 2025 :– 8,541 options granted, nil exercised, 5,318 options forfeited/expired/settled, 4,85,193 options transferred under Pine Labs Employee Stock Option Plan 2025 pursuant to merger. b) Pine Labs Employee Stock Option Plan 2025 :– 6,17,05,619 options issued by the Company as per Swap Ratio, 2,55,54,679 options granted, 9,41,314 options forfeited/expired and 2,75,56,978 options exercised as at 31 December 2025. 10. The Board of Directors of Pine Labs Limited (formerly known as Pine Labs Private Limited) (hereinafter referred to as Transferee Company) and Erstwhile Pine Labs Limited, Singapore (erstwhile holding company) (hereinafter referred to as Transferor Company) on 08 February 2024 and 13 December 2023 (modification of the Scheme approved on 07 February 2024) respectively, had approved the draft Scheme of Arrangement ('Scheme') among Transferor Company, the Transferee Company and their respective shareholders under section 210 read with section 212 of the Companies Act 1967 of Singapore, sections 230 to 232, read with section 234 of the Companies Act, 2013 of India and other applicable provisions of the Companies act 1967 of Singapore, the Companies Act, 2013 of India and rules thereunder to effect an amalgamation between Transferor Company and Transferee Company. The Scheme became effective on 6 June 2025, pursuant to the effectiveness of Scheme, the Transferor Company along with its investment in the subsidiaries have been transferred to and vested in the Transferee Company with effect from 06 June 2025. These standalone and consolidated financial results has been prepared using the principles as prescribed under Appendix C of Ind AS 103 for Business combinations of entities under common control giving the retrospective effect to the merger consummated on 06 June 2025 as if the merger has been made effective 1 April 2024. Accordingly, the impact of this merger has been considered while presenting the financial information for the year ended 31 March 2025, quarter and nine months period ended 31 December 2024. Also accordingly, for EPS calculation weighted average number of shares has been determined after considering the cancellation of equity shares of the Transferee Company and pending issuance of Schemes shares to the shareholder of Transferor Company, in lieu of share held by them in the Transferor Company from the date of original allotment. 11. During the quarter ended 31 December 2025, the Company has converted all its Compulsorily Convertible Preference Shares (CCPS) aggregating to 57,95,20,139 number of CCPS shares of various series with a face value of INR 1 each into 57,95,20,139 number of equity shares with a face value of INR 1 each at a conversion ratio of 1:1. 12. Effective from the quarter ended 30 September 2025, the Group has prepared its results and other financial information in Indian rupee (INR) crores and have been rounded off to the nearest crores up to two decimals, accordingly all comparative figures have been rounded off to the nearest crores up to two decimals, to maintain consistency in presentation. 13. The standalone and consolidated financial results for the quarter and nine month period ended 31 December 2025 are also being made available on the Stock Exchange websites www.bseindia.com and www.nseindia.com and on the Company's website: www.pinelabs.com



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-10-2025 01-04-2025
Date of end of reporting period 31-12-2025 31-12-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments Textual Information(2)



Text Block

Textual Information(2) As per IND AS 108 - Operating Segments, the Group has two reportable segments namely Digital infrastructure and transaction platform and Issuing and acquiring platform. The Group has disclosed the segment information only as part of the consolidated financial results.



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-10-2025 01-04-2025
B Date of end of reporting period 31-12-2025 31-12-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
1 Remeasurement of defined benefit liability (191.00) (354.00)
2 Fair value changes on equity investments through OCI 0.00 679.00
Total Amount of items that will not be reclassified to profit and loss (191.00) 325.00
2 Income tax relating to items that will not be reclassified to profit or loss (48.00) 8.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss
5 Total Other comprehensive income (143.00) 317.00





Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited Unaudited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 B S R & Co. LLP Yes 31-07-2028