Fino Payments Bank Limited (FINOPB) Fair Value & Analysis
Financial Services · IN · Market cap ₹12.2B (≈ $130M) · ISIN INE02NC01014
What is Fino Payments Bank Limited really worth?
Below-average quality, and trading another 47% above our fair value of ₹94.56.
As of Aug 20, 2026, the fair value of Fino Payments Bank Limited is ₹94.56 per share against a price of ₹139.15, so the fair value sits 32% below the price. A model estimate blended from multiple valuation models, recalculated regularly.
Risks
Fair value as of: Aug 20, 2026
From 4 valuation models · updated 17 days ago
Share price −13.8% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹118.20). The favourable scenario is already priced in.
- Weak quality (32/100) and above fair value at the same time, the margin of safety is missing on both counts.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.
How to read this chart
58‑month range ₹111.60 – ₹544.71 · fair‑value band ₹70.92 – ₹118.20 · the ₹139.15 price screens above the ₹94.56 fair value. Dashed = 300-day average. As of Aug 20, 2026.
Analysis
Fino Payments Bank Limited (FINOPB) currently trades at ₹139.15, while our model-based Fair Value estimate is ₹94.56, implying the stock looks roughly 47.1% overvalued today. The Quality Score stands at 32/100 (below-average quality), in the Financial Services sector. Bull case: the Multiples group reads highest at a median of ₹81.95 per share, and 0 of the 4 models we run sit above the ₹139.15 price. Bear case: the Asset-Based group reads lowest at ₹64.83, and 4 of the 4 models stay below the price. Evidence for this calculation is medium.
Over the trailing twelve months, Fino Payments Bank Limited generated revenue of ₹13.2B at a net margin of 1.6%. Revenue declined 36.1% year over year. It earns a return on equity of 6.8%. Net debt stands at ₹1.8B. Fundamentals as of Aug 20, 2026
Our scenario range runs from ₹70.92 (bear case) to ₹118.20 (bull case); at ₹139.15, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 59% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at −10% fair-value upside, at −32%, FINOPB screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹1.09 per share, which is 1.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 4 models by family
Widest divergence: Multiples (₹81.95) versus Asset-Based (₹64.83). Highest evidence: Residual Income (68).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 38 · Market factors (momentum, volatility) 24
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Fino Payments Bank Limited reported revenue of ₹14.7B in FY2026 versus ₹3.8B in FY2022, a compound +40.5%/yr. Reported net income was ₹525M in FY2026, compounding +5.3%/yr from FY2022.
FINOPB screens 47% overvalued. Compare with DBS Group →
Peer Group
Banks - Regional · 1070 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Banks - Regional median · lower = cheaper
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Banks - Regional stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DBS Group D05 | 75.65 SGD | 40.48 SGD | −46% |
| China Merchants Bank Co 3968 | HK$47.96 | HK$76.51 | +60% |
| Intesa Sanpaolo S.p.A ISP | €6.78 | €5.66 | −17% |
| HDFC Bank Limited HDB | $23.18 | $24.12 | +4% |
| BNP Paribas SA BNP | €104.54 | €144.64 | +38% |
| UniCredit S.p.A UCG | €84.71 | €77.62 | −8% |
| Mizuho Financial Group MFG | $10.74 | $9.69 | −10% |
| ICICI Bank Limited ICICIBANK | ₹1,423 | ₹835.21 | −41% |
| Oversea-Chinese Banking Corporation O39 | 31.07 SGD | 19.80 SGD | −36% |
| CaixaBank, S.A CABK | €13.52 | €8.85 | −35% |
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