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FINO Payments Bank Ltd.
(FINOPB)
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Rating:60Neutral
Price Target:
₹147.00
▼(-10.15% Downside)
Action:Reiterated
Date:07/18/26
The score is primarily held back by inconsistent cash-flow conversion and rising leverage despite strong FY2026 revenue growth. Technicals are moderately supportive in the short-to-medium term (above key moving averages with positive MACD), but the stock remains below the 200-day average, and valuation (P/E 27.7 with no dividend data) is only neutral.
Positive Factors
Technology-led distribution
FINOPB’s combination of assisted banking points, agents and digital channels supports broad customer access in underserved markets. This distribution model can create recurring transaction activity and deepen customer relationships, providing a durable foundation for fee income and financial-service expansion.
Negative Factors
Rising leverage
Rapid debt growth has increased financial leverage alongside balance-sheet expansion, reducing flexibility if profitability or funding conditions weaken. Higher obligations can constrain future capital allocation and make the company more sensitive to earnings volatility over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Technology-led distribution
FINOPB’s combination of assisted banking points, agents and digital channels supports broad customer access in underserved markets. This distribution model can create recurring transaction activity and deepen customer relationships, providing a durable foundation for fee income and financial-service expansion.
Read all positive factors
FINO Payments Bank Ltd. (FINOPB) vs. iShares MSCI India ETF (INDA)
Market Cap
₹11.64B
Dividend YieldN/A
Average Volume (3M)26.33K
Price to Earnings (P/E)55.8
Beta (1Y)1.90
Revenue Growth-22.66%
EPS Growth-75.61%
CountryIN
Employees2,769
SectorGeneral
Sector StrengthN/A
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.51
Shares Outstanding83,218,400
10 Day Avg. Volume15,655
30 Day Avg. Volume26,332
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)1.22
Price to Sales (P/S)0.62
P/FCF Ratio1.08K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)13
Revenue Forecast (FY)₹19.30B
FINO Payments Bank Ltd. Business Overview & Revenue Model
Company Description
Established in 2007 and headquartered in Navi Mumbai, India, Fino Payments Bank Limited, previously known as Fino Fintech Limited, provides a comprehensive range of financial services across India. This subsidiary of FINO PayTech Limited offers co...
How the Company Makes Money
FINOPB makes money primarily through fee and commission income and interest-related income within the constraints applicable to payments banks in India.
1) Net interest income / treasury income (within payments bank rules): Payments banks general...
FINO Payments Bank Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
60
Neutral
Cash Flow
35
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.33B | 15.79B | 7.78B | 6.35B | 4.94B | 3.94B |
| Gross Profit | 13.11B | 14.65B | 6.78B | 5.56B | 4.47B | 3.78B |
| EBITDA | 673.60M | 1.44B | 1.71B | 1.40B | 1.07B | 781.91M |
| Net Income | 209.80M | 524.60M | 925.35M | 862.24M | 650.87M | 427.41M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 53.12B | 42.06B | 34.19B | 24.66B | 16.80B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 13.51B | 11.04B | 10.66B | 8.34B | 7.66B |
| Total Debt | 0.00 | 15.35B | 8.39B | 7.13B | 4.34B | 2.50B |
| Total Liabilities | -8.05B | 45.07B | 34.59B | 27.76B | 19.14B | 12.00B |
| Stockholders Equity | 8.05B | 8.05B | 7.47B | 6.43B | 5.53B | 4.80B |
Cash Flow | ||||||
| Free Cash Flow | -836.80M | 9.10M | -6.15B | 580.78M | -1.14B | 1.43B |
| Operating Cash Flow | -140.10M | 1.44B | -4.51B | 1.62B | -201.00M | 2.07B |
| Investing Cash Flow | -696.70M | -10.33B | -1.64B | -1.04B | -965.30M | -643.11M |
| Financing Cash Flow | 1.77B | 11.36B | 6.54B | 7.74B | 5.99B | 6.10B |
FINO Payments Bank Ltd. Technical Analysis
Negative
163.60
Price Trends
152.64
Negative
143.23
Negative
179.00
Negative
Market Momentum
-4.04
Negative
40.84
Neutral
51.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:FINOPB, the sentiment is Negative. The current price of 163.6 is above the 20-day moving average (MA) of 142.83, above the 50-day MA of 152.64, and below the 200-day MA of 179.00, indicating a bearish trend. The MACD of -4.04 indicates Negative momentum. The RSI at 40.84 is Neutral, neither overbought nor oversold. The STOCH value of 51.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:FINOPB.
FINO Payments Bank Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹54.56B | 14.33 | ― | ― | 17.48% | -12.60% | |
66 Neutral | ₹129.73B | 14.03 | ― | 3.38% | 15.87% | 70.88% | |
63 Neutral | ₹799.37B | 27.71 | ― | 0.09% | 14.96% | 30.22% | |
60 Neutral | ₹11.64B | 55.77 | ― | ― | -22.66% | -75.61% | |
59 Neutral | ₹280.17B | 21.01 | ― | 0.85% | -2.19% | -34.11% | |
56 Neutral | ₹83.06B | 16.36 | ― | 1.27% | 9.24% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:FINOPB
FINO Payments Bank Ltd.
139.85
-135.75
-49.26%
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FINO Payments Bank Ltd. Corporate Events
Fino Payments Bank Shareholders Ratify CEO Re-Appointment via E-Voting
Jul 27, 2026
Fino Payments Bank has announced that shareholders approved, via postal ballot conducted through remote electronic voting, an ordinary resolution ratifying the re-appointment of Mr. Rishi Gupta as Managing Director and Chief Executive Officer for ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.