Pine Labs Ltd (PINELABS) Fair Value & Analysis
Technology · IN · Market cap ₹180B
Fair value as of: Aug 13, 2026
From 24 valuation models · updated 4 days ago
Share price +6.2% over the past month.
Below-average quality, and screening another 83% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹34.13). The favourable scenario is already priced in.
- Solid but not exceptional quality (47/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (9 months)
White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.
How to read this chart
9‑month range ₹137.94 – ₹250.89 · fair‑value band ₹20.48 – ₹34.13 · the ₹162.63 price screens above the ₹27.30 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Aug 13, 2026.
Analysis
Pine Labs Ltd (PINELABS) currently trades at ₹162.63, while our model-based Fair Value estimate is ₹27.30, implying the stock looks roughly 83.2% overvalued today. The Quality Score stands at 47/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Pine Labs Ltd generated revenue of ₹27.1B at a net margin of 4.2%. Revenue declined 34.3% year over year. It earns a return on equity of 2.4%. The stock trades on a trailing P/E of 159.4. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹20.48 (bear case) to ₹34.13 (bull case); at ₹162.63, 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 last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 43% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -59% fair-value upside, at -83%, PINELABS screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.
All 24 models by family
Widest divergence: DCF Models (₹56.73) versus Economic Profit (₹22.68). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 48 · Market factors (momentum, volatility) 27
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.
About the company
Pine Labs Limited, a technology company, provides digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions in India, Malaysia, the United Arab Emirates, Singapore, Australia, the United States, and Africa.
Full company description
Pine Labs Limited, a technology company, provides digital payments and issuing solutions for merchants, consumer brands and enterprises, and financial institutions in India, Malaysia, the United Arab Emirates, Singapore, Australia, the United States, and Africa. It operates through Digital Infrastructure and Transaction Platform, and Issuing and Acquiring Platform segments. The Digital Infrastructure and Transaction Platform segment provides technology platforms under the brand name of Pinelabs, Mosambee, Benow, Setu, Qfix, and Fave to merchants that enables acceptance of instore or online digital payments. These technology platforms and infrastructure allow merchants to accept debit cards, credit cards, prepaid instruments wallets, QR codes, unified payment interface, loyalty points, pay later, online fee collection, etc., as well as provide application programming interface modules to customers for building financial products that facilitates bill payments, credit, and savings to enable purchases made by consumers. It also engages in selling digital checkout points devices. The Issuing and Acquiring Platform segment provides a technology platform to issue, process, and distribute prepaid cards primarily in India and South East Asia. It also monetizes primarily by charging a processing fee from merchants who are utilizing the technology platform and in the case of distribution. The company was incorporated in 1998 and is based in Gurugram, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2023 – FY2026 · reported fiscal years
Pine Labs Ltd reported revenue of ₹27.1B in FY2026 versus ₹13.5B in FY2023, a compound +26.0%/yr. Reported net income was ₹1.1B in FY2026.
PINELABS screens 83% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 370 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 Software - Infrastructure median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $506.06 | $365.74 | -28% |
| Oracle Corporation ORAC | C$7.22 | C$2.34 | -68% |
| Fortinet, Inc FTNT | $160.84 | $61.46 | -62% |
| Synopsys, Inc 1SNPS | €358.00 | €93.61 | -74% |
| Block, Inc XYZ | A$111.01 | A$70.69 | -36% |
| Range Intelligent Computing Technology Group 300442 | ¥67.70 | ¥30.89 | -54% |
| Oracle Financial Services Software Limited OFSS | ₹11,679 | ₹6,897 | -41% |
| 360 Security Technology Inc 601360 | ¥9.58 | ¥1.05 | -89% |
| One97 Communications Limited PAYTM | ₹1,610 | ₹241.68 | -85% |
| PT GoTo Gojek Tokopedia Tbk GOTO | 50.00 IDR | 20.41 IDR | -59% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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