PINELABS2025-07-012025-09-30PINELABS2025-09-30PINELABS2025-03-31PINELABS2025-04-012025-09-30PINELABS2025-07-012025-09-30in-capmkt:OtherExpenses1MemberPINELABS2025-07-012025-09-30in-capmkt:OtherExpenses2MemberPINELABS2025-07-012025-09-30in-capmkt:OtherExpenses3MemberPINELABS2025-07-012025-09-30in-capmkt:OtherExpenses4MemberPINELABS2025-04-012025-09-30in-capmkt:OtherExpenses1MemberPINELABS2025-04-012025-09-30in-capmkt:OtherExpenses2MemberPINELABS2025-04-012025-09-30in-capmkt:OtherExpenses3MemberPINELABS2025-04-012025-09-30in-capmkt:OtherExpenses4MemberPINELABS2025-07-012025-09-30in-capmkt:ReportableSegments1MemberPINELABS2025-07-012025-09-30in-capmkt:ReportableSegments2MemberPINELABS2025-04-012025-09-30in-capmkt:ReportableSegments1MemberPINELABS2025-04-012025-09-30in-capmkt:ReportableSegments2MemberPINELABS2025-07-012025-09-30in-capmkt:ReportableSegments1MemberPINELABS2025-07-012025-09-30in-capmkt:ReportableSegments2MemberPINELABS2025-04-012025-09-30in-capmkt:ReportableSegments1MemberPINELABS2025-04-012025-09-30in-capmkt:ReportableSegments2MemberPINELABS2025-07-012025-09-30in-capmkt:ReportableSegments1MemberPINELABS2025-09-30in-capmkt:ReportableSegments1MemberPINELABS2025-07-012025-09-30in-capmkt:ReportableSegments2MemberPINELABS2025-09-30in-capmkt:ReportableSegments2MemberPINELABS2025-07-012025-09-30in-capmkt:ReportableSegments1MemberPINELABS2025-09-30in-capmkt:ReportableSegments1MemberPINELABS2025-07-012025-09-30in-capmkt:ReportableSegments2MemberPINELABS2025-09-30in-capmkt:ReportableSegments2MemberPINELABS2025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1PINELABS2025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss2PINELABS2025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss3PINELABS2025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1PINELABS2025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss2PINELABS2025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss3PINELABS2025-07-012025-09-30AuditorDomain1iso4217:INRiso4217:INRxbrli:shares544606PINELABSNOTLISTEDINE15B701018PINE LABS LIMITEDMain BoardEquity2025-04-012026-03-312025-12-03INRCroresQuarterlySecond quarterMulti segment2025-12-0315:06:002025-12-0315:53:00trueCash Flow IndirectDeclaration of unmodified opinion2025-07-012025-09-30UnauditedConsolidated6499000000230100000672910000008061000007400000267860000021270000065870000022533000006616800000112300000011230000078700000-2680000051900000060400000000-70000059700000186000007830000059700000078300000044710000010.060.06000.060.06EPS is not annualised for the quarter and half year ended 30 September 2025, quarter ended 30 June 2025 and quarter and half year ended 30 September 2024. <BR> <BR> 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"). <BR> <BR> 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 03 December 2025. The statutory auditors have carried out a limited review of the financial results of the quarter and half-year ended 30 September 2025. <BR> 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. <BR> <BR> 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 half year ended 30 September 2025, is prepared in compliance with Regulation 33 of the Listing Regulations. <BR> <BR> 5) Subsequent to the quarter ended 30 September 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. <BR> <BR> 6) The figures for the quarter ended 30 June 2025, corresponding quarter ended 30 September 2024 and corresponding half-year ended 30 September 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 from the quarter ended 30 September 2025. <BR> <BR> 7) During the 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. <BR> <BR> 8) Details of Employee Stock Option for the quarter and six months period ended 30 September 2025 are as follows: <BR> <BR> 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, 485,193 options transferred under Pine Labs Employee Stock Option Plan 2025 pursuant to merger. <BR> <BR> b) Pine Labs Employee Stock Option Plan 2025 :– 61,705,619 options issued by the Company as per Swap Ratio, 25,361,394 options granted, 673,949 options forfeited/expired and 27,556,978 options applied for exercise pending for allotment as at 30 September 2025. <BR> <BR> 9) 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. <BR> <BR> 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 six months period ended 30 September 2024 and quarter ended 30 June 2025. 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. <BR> <BR> 10) During the quarter and six months period ended 30 September 2025, Marc Kay Mathenz resigned as Chief Financial Officer of the Company w.e.f 31 August 2025 and Sameer Vasudev Kamath was appointed as Chief Financial Officer w.e.f 2 September 2025. <BR> <BR> 11) Subsequent to the quarter ended 30 September 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. <BR> <BR> 12) Subsequent to the quarter ended 30 September 2025, on 21 November 2025, the Government of India notified the Code on Social Security, 2020 (“Social Security Code”); the Occupational Safety, Health and Working Conditions Code, 2020; the Industrial Relations Code, 2020 and the Code on Wages, 2019, which consolidate, subsume and replace certain existing central labour legislations (collectively, the “Labour Codes”). As these notifications occurred after the reporting period, no impact of the Labour Codes has been reflected in the standalone and consolidated financial results of the Company/Group for the quarter and half-year ended 30 September 2025. The Company is currently evaluating the potential impact of these Labour codes on its business and operations. <BR> <BR> 13) 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. <BR> <BR> 14) The standalone and consolidated financial results for the quarter and half year ended 30 September 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.com2025-04-012025-09-30UnauditedConsolidated126581000006018000001325990000001513300000664000005591800000426900000131110000042859000001319540000064500000064500000121900000-166300000-444000000108900000000-1300000107600000615000001691000001076000000169100000044710000010.10.1000.10.1Transaction and related costs711200000Impairment of non-current assets11800000Impairment losses on financial assets and contract assets95500000Other expenses1434800000Transaction and related costs1306300000Impairment of non-current assets15200000Impairment losses on financial assets and contract assets231800000Other expenses27326000003122200000581200000011637300000205250000010214000000959000002787000001316000000934800000134510000016948000003683300000252337000002570000000982730000060482000005458910000010300000145811000008505600000002508700000878217000000011305540000010266000003607960000037106200000371062000001875000000001121200000130870000053890000013250000086300000175400000224180000070738000002635000003820400000408390000060330600000714883000001786100000247800000405000001447000007370740000000759492000001130554000001) other non current assets INR 368.33 crore includes right of use assets 112.05 crore and non current tax assets 238.08 crore and other non current assets 18.20 crore, reported separately in financial results. <BR> 2) Equity share capital INR 102.66 crore includes equity share capital 44.71 crore and intruments entirely equity in nature 57.95 crore. <BR> 3) other non current financial liabilites INR 112.12 crore includes lease liabilities 111.98 crore and other financial liability 0.14 crore. <BR> 4) Other current financial liabilities INR 6,033.06 Crore includes lease liabilities 20.10 crore, liabilities towards prepaid cards 5,126.33 and other current liabilites 886.63 croreDigital infrastructure and transaction platform4400600000Issuing and acquiring platform2098400000Digital infrastructure and transaction platform8744300000Issuing and acquiring platform3913800000649900000012658100000649900000012658100000Digital infrastructure and transaction platform3678300000Issuing and acquiring platform1296000000Digital infrastructure and transaction platform7342800000Issuing and acquiring platform2429300000497430000097721000002127000004269000004650000000928200000011160000063200000Digital infrastructure and transaction platform0Issuing and acquiring platform0000Digital infrastructure and transaction platform0Issuing and acquiring platform00001) In reviewing the operational performance of the Group and allocating resources, the chief operating decision maker of the Group (“CODM”), who is the Group’s Chief Executive Officer (“CEO”), reviews the financial performance and forecasts, performance of key product lines, new product buildout/performance review, and other reviews such as employee performance, functional reviews and ad-hoc-reviews. The Group has a defined organization structure where the Group's CEO is placed at top of the hierarchy of the organization and is the only member of the management team with the authority to make or approve significant strategic and key operating decisions for the Group and evaluates the performance of the business (subject to oversight by the Company’s Board of Directors). The Group's operating segments, are strategic business units that offer different products and services. For each of the operating segments, the CODM reviews performance based on segment’s revenue and contribution margin. The review does not include breakups or details of assets and liabilities of these operating segments. <BR> 426900000274600000-15765000000-2589000000-36511000000-3786100000-139050000006857000000131110000024700000045000000062935000000-7000000-9380000085310000000-1048000000-455400000-1300000-994600000-930100000000-568700000395900000345000000000000027100000-855100000000000000090000000000000632000000-12030000083410000000000-6450000010881000000864700000-333500000-1002000000-4282000000-76500000021142000002982800000420000029870000005503000003537300000Remeasurement of defined benefit liability-8200000Fair value changes on equity investments through OCI0Foreign exchange differences on translations of foreign operations2470000016500000Remeasurement of defined benefit liability-15900000Fair value changes on equity investments through OCI67900000Foreign exchange differences on translations of foreign operations1540000067400000-210000059000001860000061500000UnauditedtrueB S R & Co. LLPtrue2028-07-31