- CIN
- U72900HR2016PLC067214
- ISIN
- INE0PAY01012
- Incorporated
- 18 Apr 2016
- Registered state
- Haryana
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Business overview
Paylane Digital Technologies Limited runs merchant payment acceptance, a lending marketplace and a settlement stack for small businesses, with operations across 620 cities and a technology centre in Gurugram, processing about ₹2.6 lakh crore of annualised payment volume for 5.4 million merchants. The lending marketplace now contributes a third of gross profit on a fraction of the revenue, which is what moved the company into profit in FY2026 after two loss-making years. The company is currently at the draft-prospectus stage of a proposed public issue, and shares change hands only through negotiated off-market transfers.
Key highlights
- First profitable year in FY2026
- Take rate stable at 0.58% despite competitive pricing
- DRHP filed in June 2026 with a fresh issue component of ₹2,500 crore
- Device-based merchant base growing faster than QR-only
Financial snapshot
FY2026 · Audited · Source: Audited annual report
- Revenue FY2026
- ₹3,620.00 Cr
- EBITDA
- ₹412.00 Cr
- PAT
- ₹168.00 Cr
- Net worth
- ₹4,180.00 Cr
- Total debt
- ₹620.00 Cr
- Cash & equivalents
- ₹2,140.00 Cr
- Operating cash flow
- ₹486.00 Cr
- EPS
- ₹1.75
Management & board
- DASince 2018
Deepa Agarwal
Managing Director & CEO
Has led Paylane since 2018 and previously held senior operating roles in the same sector.
- GSSince 2019
Girish Saxena
Chief Financial Officer
- VSSince 2016
Vikram Sinha
Executive Director — Operations
- AJSince 2022
Aditya Joshi
Company Secretary & Compliance Officer
- IBSince 2021
Ira Bhatt
Independent Director
Reported financials · FY2024–FY2026
Figures in ₹ crore unless stated. Every column carries its own source and audit status.
| Particulars | FY2026Audited | FY2025Audited | FY2024Audited | YoY |
|---|---|---|---|---|
| Profit & loss | ||||
| Revenue | ₹3,620 Cr | ₹2,840 Cr | ₹2,010 Cr | +27.5% |
| EBITDA | ₹412 Cr | ₹186 Cr | ₹-118 Cr | +121.5% |
| Profit after tax | ₹168 Cr | ₹-92 Cr | ₹-412 Cr | — |
| Earnings per share | ₹1.75 | ₹-0.96 | ₹-4.28 | — |
| Balance sheet | ||||
| Net worth | ₹4,180 Cr | ₹3,920 Cr | ₹3,640 Cr | +6.6% |
| Total debt | ₹620 Cr | ₹540 Cr | ₹480 Cr | — |
| Cash & equivalents | ₹2,140 Cr | ₹1,880 Cr | ₹1,620 Cr | — |
| Total assets | ₹6,840 Cr | ₹5,960 Cr | ₹5,240 Cr | — |
| Book value per share | ₹43.45 | ₹40.75 | ₹37.84 | — |
| Cash flow | ||||
| Operating cash flow | ₹486 Cr | ₹214 Cr | ₹-168 Cr | — |
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- FY2026 · Audited annual report · period ended 31 Mar 2026 · last updated in the back office 19 Sep 2026
- FY2025 · Audited annual report · period ended 31 Mar 2025
- FY2024 · Audited annual report · period ended 31 Mar 2024
Revenue, EBITDA and PAT
₹ crore. A year with no reported figure is left out rather than drawn as zero.
- Revenue
- EBITDA
- PAT
Every ratio on this tab is derived from the reported figures in the Financials tab and the indicative price in the header — nothing here is a stored value. A ratio that cannot be justified is shown as — with the reason, rather than as a negative or a zero. Ratios move when the indicative price moves.
Size
Balance-sheet items as at FY2026
- Market cap
- ₹39,634 Cr
- Enterprise value
- ₹38,114 Cr
- Indicative price
- ₹412
- Shares outstanding
- 96,20,00,000
Indicative price × shares outstanding
Market cap + debt − cash
Valuation multiples
- P/E
- 235.9x
- P/B
- 9.5x
- EV / EBITDA
- 92.5x
- EPS
- ₹1.75
- Book value / share
- ₹43.45
- Debt / equity
- 0.1x
On FY2026 PAT
Returns & margins
- ROE
- 4.0%
- ROCE (EBITDA basis)
- 8.6%
- EBITDA margin
- 11.4%
- PAT margin
- 4.6%
- Revenue growth
- 27.5%
- Cash / market cap
- 5.4%
EBITDA ÷ (net worth + debt)
Indicative price snapshots
Each point is a dated dealer-quote average. There is no continuous trading behind these numbers, so no daily series is drawn.
Prices shown are indicative, dealer-quoted and updated periodically — they are not exchange-traded prices and may differ from the price at which a transaction is finally executed.
Snapshot log
| Date | Indicative price | Change | Source |
|---|---|---|---|
| 20 Sep 2026 | ₹412 | +2.91% | Dealer desk average, 5 quotes |
| 20 Aug 2026 | ₹400 | +4.12% | Dealer desk average |
| 20 Jul 2026 | ₹385 | +4.80% | Dealer desk average |
| 20 Jun 2026 | ₹367 | +1.56% | Dealer desk average |
| 20 May 2026 | ₹361 | +3.14% | Dealer desk average |
| 20 Apr 2026 | ₹350 | +3.50% | Dealer desk average |
| 20 Mar 2026 | ₹338 | +2.28% | Dealer desk average |
| 20 Feb 2026 | ₹331 | +4.48% | Dealer desk average |
| 20 Jan 2026 | ₹317 | +3.16% | Dealer desk average |
| 20 Dec 2025 | ₹307 | +4.06% | Dealer desk average |
| 20 Nov 2025 | ₹295 | +0.97% | Dealer desk average |
| 20 Oct 2025 | ₹292 | +4.55% | Dealer desk average |
| 20 Sep 2025 | ₹279 | — | Dealer desk average |
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Change is measured against the previous snapshot, not against a calendar period, because snapshots are not collected on a fixed schedule. The header percentages use fixed windows and may not tie exactly to this column.
Corporate actions & events
Dated events sourced from company filings and registrar records.
- Filing7 Oct 2026
DRHP filed with the registrar
Statutory filing completed within the prescribed timeline.
Company filing / RoC
- Split1 Mar 2025
Sub-division of equity shares
Face value sub-divided to improve tradability ahead of a listing.
Company filing / RoC
- Rights25 Feb 2024
Rights issue to existing shareholders
Rights entitlement offered to shareholders on record in the stated ratio.
Company filing / RoC
IPO / listing status
- Current stage
- DRHP filed
- DRHP filed
- 18 Mar 2026
- RHP filed
- —
- Expected window
- Q4 FY2027 (indicative)
- Registrar
- Cygnet Registry Services
- Book-running managers
- Northpoint Capital Advisors, Sterling Securities
Listing timelines are indicative and subject to regulatory approval and market conditions. A filing is not a guarantee of listing.
Lock-in applies after listing
Shares acquired before a public issue are typically subject to a statutory lock-in of six months from the date of listing. Confirm the applicable period before transacting.
Read the lock-in explainerResearch
1 published on this company
Documents
Public documents open directly. Private documents are released to verified clients on request.
| Document | Type | FY / date | Source | Access |
|---|---|---|---|---|
| Draft Red Herring Prospectus18.4 MB | DRHP | 2026 | Regulator filing | Download |
| Annual Report FY20264.2 MB | Annual report | FY2026 | Company | Download |
| Annual Report FY20253.8 MB | Annual report | FY2025 | Company | Download |
| Audited financial statements — three-year summary620 KB | Financials | FY2024–FY2026 | Statutory filings | Download |
| Investor presentation9.1 MB | Presentation | 2026-07-15 | Company | On request |
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Risk assessment
Our own reading of the disclosed information. Treat the levels as judgement, not as fact.
Regulatory change
HighInterchange and MDR rules can reset unit economics with little notice.
Credit partner risk
MediumMarketplace income depends on a small set of lending partners.
Profitability durability
MediumOne profitable year is a short track record.
Risks common to every unlisted holding. You may not find a buyer when you want one, at any price. A listing may be delayed indefinitely or may never happen, and shares can list below the price at which they changed hands in the unlisted market. Disclosure by unlisted companies is thinner than by listed ones, and the indicative price is based on infrequent dealer quotes rather than continuous trading.