Shares of opened sharply higher but reversed course sharply on Tuesday, trading down 1.01 per cent at ₹144.45 on the as of 11.03 am, after the fintech company’s Q4 FY26 results disappointed street estimates on the revenue front.
The stock hit an intraday high of ₹152.80 before selling pressure pushed it toward the day’s low of ₹144.00, with sell orders accounting for nearly 70 per cent of total traded quantity. Traded volumes were already robust at 306 lakh shares worth ₹451 crore, signalling heavy institutional activity.
The stock is under significant pressure in recent weeks — down 26 per cent in the past month and 38 per cent year-to-date — and touched a 52-week low of ₹137.51 just the previous session, May 25.
Morgan Stanley has maintained its Equal-weight rating with a target price of ₹245, noting Q4 revenue growth of 17 per cent year-on-year missed consensus by around 3 per cent, while adjusted EBITDA of ₹146 crore — up 73 per cent YoY — came in slightly below expectations.
The brokerage flagged that the international business was hurt by Middle East geopolitical tensions, which disrupted airline volumes and delayed product rollouts with UAE banking partners.
Pine Labs reported full-year FY26 revenue of ₹2,711 crore, up 19 per cent YoY, with adjusted EBITDA of ₹559 crore, up 57 per cent. The company turned profitable on an annual basis with PAT of ₹113 crore versus a loss of ₹145 crore in FY25. Net cash stood at ₹2,449 crore as of March 31, 2026.
Management guided for revenue growth in the 21–23.5 per cent range over the medium term, citing growth drivers including the multi-year contract wins from all three state-owned oil marketing companies — BPCL, HPCL and IOCL — a payments technology partnership with GCash in the Philippines, and a strategic tie-up with OpenAI for agentic commerce solutions.