Pine Labs infuses Rs 25-cr into subsidiary to support growth

Pine Labs announced that it has invested Rs 24.99 crore in its wholly owned subsidiary, Synergistic Financial Networks (SFNPL), through subscription to a rights issue.

Incorporated on 12 March 2008, SFNPL operates in the financial technology sector. The company facilitates financial transactions through payment processing infrastructure, provides end-to-end integrated technology solutions and sells transaction-related infrastructure. The company reported a turnover of Rs 189.75 crore for the financial year ended 31 March 2026, compared with Rs 198.39 crore in FY25, registering a decline of approximately 4.35% year-on-year. Its turnover stood at Rs 196.77 crore in FY24.

The company acquired 49,869 equity shares of SFNPL for a cash consideration of Rs 24,99,93,297, according to an exchange filing dated 21 October 2026.

The investment is aimed at meeting SFNPL's working capital requirements, supporting growth opportunities and facilitating further investments in its step-down subsidiaries.

Pine Labs is a technology company focused on digitising commerce through digital payments and issuing solutions for merchants, consumer brands, enterprises and financial institutions.

The company's consolidated revenue grew 20% YoY to Rs 737 crore, while profit after tax increased fourfold to Rs 20 crore from Rs 5 crore in Q1 FY26. Profit before tax stood at Rs 38 crore, compared with a loss of Rs 5 crore in the year-ago quarter.

The counter declined 3.23% to end at Rs 158.55 on the BSE.

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