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Company Overview
Fino Paytech, founded on July 13, 2006, is headquartered in Mumbai, India, with a nationwide presence. It operates as a business and banking technology platform, striving to cater to the diverse financial service needs of its customers and aiming to become their preferred choice universally.
Fino Paytech is backed by both international and Indian institutional investors. The company stands as a thought leader, innovator, and implementer of technology solutions for various institutions, including banks, micro-finance institutions, government entities, and insurance companies. With a vision centered around comprehensive financial inclusion, Fino Paytech seeks to offer seamless end-to-end customer sourcing and servicing.
Group Services and Offerings
The FINO PayTech Limited Group primarily focuses on providing technology-based solutions and services related to financial inclusion. The group includes a Non-Banking Financial Company (NBFC-ND) registered with the Reserve Bank of India (RBI), specializing in providing finance to women in rural areas organized as Joint Liability Groups (JLG). Additionally, the group encompasses a bank offering a range of services such as current and savings accounts, remittances, mobile banking, and more, targeting rural, poor, underserved, and unserved segments to foster economic self-reliance.
Company Offerings
A) Customer Enrollment Solutions
Fino Paytech offers efficient applications for micro customer acquisition, enabling doorstep enrollment. This system, comprising a laptop, web camera, fingerprint scanner, and optional signature pad, streamlines the enrollment process, maintaining banking’s core essence.
B) Hardware Solutions
Fino Paytech provides a comprehensive suite of biometric products for enrollment, storage, and verification, alongside back-end system maintenance. This technology facilitates the development of exclusive financial inclusion applications, including handheld devices, biometric smart cards, and more.
C) Operation Solutions
The operations solutions team oversees data messaging to generate necessary information for daily operations management. Clients can utilize pre-designed reports or request customized ones to suit their specific needs.
D) Services
i) Consultancy Service: Fino Paytech offers consultancy services to its clients.
ii) Financial Literacy: The company promotes financial literacy among its target demographic.
Target Audience
A) Banks
i) Joint Liability Group Loans: Fino Paytech facilitates JLG lending, providing a platform for group-based micro-finance lending since 2008.
ii) Recurring Deposit: Offering a recurring deposit product for micro customers, encouraging committed savings.
iii) Money Transfer: Providing a reliable platform for domestic money transfers.
B) Government
i) MNREGA: Fino Paytech provides cards for making domestic payments, reducing misuse through biometric validation.
ii) Social Security Schemes: Governments utilize Fino Paytech’s architecture to deliver social security schemes efficiently.
C) Insurance
Fino Paytech’s technological solutions are transforming India’s health micro-insurance sector, empowering insurance companies to reach the bottom of the pyramid while maintaining financial viability. Notably, Fino Paytech plays a significant role in implementing the Rashtriya Swasthya Bima Yojana (RSBY), a national health insurance scheme aimed at protecting Below Poverty Line (BPL) households from health-related financial burdens.
Fundamentals
| Item | 2023 | Item | 2023 |
|---|---|---|---|
| Current Price | ₹155 | ROE (%) | 7.84 |
| Debt to Equity | 0.71 | P/B | 2.54 |
| Market Cap (in Cr.) | ₹1619 | P/E Ratio | 32.36 |
| Face Value | ₹10 | PAN Number | AAACF9869M |
| Book Value | ₹61.06 | EPS | ₹4.79 |
| ISIN | INE511I01011 | No. of Shares (in Cr.) | 104.39 |
Promoters & Managements
| Name | Designation |
|---|---|
| Amit Kumar Jain | Whole-time Director, COO |
| Ashok Kini | Non-Executive Chairman |
| Dr. Apurva Joshi | Director |
Profit & Loss Statement
| Item | 2022 | 2023 |
|---|---|---|
| Revenue | 841 | 1291 |
| Cost of Material Consumed | 11 | 185 |
| Gross Margins | 38.89% | 83.9% |
| Change in Inventory | 0 | 3 |
| Employee Benefit Expenses | 4 | 171 |
| Other Expenses | 216 | 766 |
| EBITDA | -213 | 24 |
| Operating Profit Margin (OPM) | -1183.33% | 2.09% |
| Other Income | 823 | 142 |
| Finance Cost | 1 | 54 |
| D&A (Depreciation & Amortization) | 2 | 50 |
| EBIT | -215 | -26 |
| EBIT Margins | -1194.44% | -2.26% |
| PBT (Profit Before Tax) | 605 | 62 |
| PBT Margins | 3361.11% | 5.4% |
| Tax | 82 | 12 |
| PAT (Profit After Tax) | 523 | 50 |
| Net Profit Margin (NPM) | 2905.56% | 4.35% |
| EPS (Earnings Per Share) | 47.81 | 4.79 |
Financial Ratios
| Ratio | 2022 | 2023 |
|---|---|---|
| Operating Profit Margin | -1183.33% | 2.09% |
| Net Profit Margin | 2905.56% | 4.35% |
| Earnings Per Share (Diluted) | 47.81 | 4.79 |
Assets
| Item | 2022 | 2023 |
|---|---|---|
| Fixed Assets | 4 | 125 |
| CWIP | 0 | 26 |
| Investments | 421 | 1146 |
| Trade Receivables | 26 | 72 |
| Inventory | 0 | 42 |
| Other Assets | 778 | 1209 |
| Total Assets | 1229 | 2620 |
Liabilities
| Liability Categories | 2022 | 2023 |
|---|---|---|
| Share Capital | 109.4 | 104.39 |
| Face Value (FV) | 10 | 10 |
| Reserves | 1074 | 533 |
| Borrowings | 1 | 455 |
| Trade Payables | 23 | 23 |
| Other Liabilities | 21.6 | 1504.61 |
| Total Liabilities | 1229 | 2620 |
| Item | 2022 | 2023 |
|---|---|---|
| PBT (Profit Before Tax) | 605 | 62 |
| OPBWC (Operating Profit Before Working Capital) | -49 | 2 |
| Change in Receivables | -20 | -2 |
| Change in Inventories | 11 | 3 |
| Change in Payables | 13 | -20 |
| Other Changes | -87 | 402 |
| Working Capital Change | -83 | 383 |
| Cash Generated From Operations | -132 | 385 |
| Tax | -79 | 3 |
| Cash Flow From Operations | -211 | 388 |
| Purchase of PPE | -0.5 | -87 |
| Sale of PPE | 0 | 0 |
| Cash Flow From Investment | 850 | -539 |
| Borrowing | 0 | -0.36 |
| Dividend | 0 | -502 |
| Equity | 84 | 0.22 |
| Others From Financing | -2 | -4 |
| Cash Flow from Financing | 82 | -506.14 |
| Net Cash Generated | 721 | -657.14 |
| Cash at the Start | 3 | 1057 |
| Cash at the End | 724 | 399.86 |
Share Holding Pattern
| Shareholder | 2022 (%) | 2023 (%) |
|---|---|---|
| Bharat Petroleum Corporation Limited | 26.81 | 26.81 |
| ICICI Prudential Life Insurance Company Ltd. | 10.38 | 10.38 |
| ICICI Bank Limited | 9.09 | 9.09 |
| Blackstone GPV Capital Partners (Mauritius) VI-B FDI Ltd. | 6.88 | 6.88 |
| HAV 3 Holdings (Mauritius) Limited | 6.83 | 6.83 |
| ICICI Lombard General Insurance Company Limited | 6.22 | 5.73 |
| International Finance Corporation | 6.02 | 6.02 |
| Others | 27.77 | 28.26 |
Frequently Asked Questions (FAQ)
Find answers to common questions, providing clarity and insights to address any queries on your mind.
Contact Us: Reach out to Unlistify to confirm availability and agree on a price.
Provide KYC: Submit your Client Master Report, PAN card, and a cancelled cheque.
Make Payment: Transfer funds to our designated bank account (RTGS/NEFT/IMPS/cheque). Ensure the payment originates from the same account where you want the shares credited.
Receive Shares: We’ll transfer the Fino Paytech shares to your Demat account within 24 hours of payment confirmation.
Get a Quote: Unlistify will provide a buyback price for your Fino Paytech shares.
Share Details: Submit your Client Master Report.
Transfer Shares: Transfer the Fino Paytech shares to our Demat account using a DIS (Delivery Instruction Slip).
Receive Payment: We’ll transfer funds to your bank account within 24 hours of receiving the shares (RTGS/NEFT/IMPS/cheque). For security reasons, payment will only be made to the account linked to your Demat
DIS (Delivery Instruction Slip): A DIS is a form used to authorize the transfer of shares from your Demat account.
Methods:
Offline DIS: Fill out a physical DIS form with details like the ISIN number, quantity, price of your Fino Paytech shares, and our account information. Submit this to your broker.
Online DIS: Some brokers offer online DIS systems for easier transfers.
Unlistify aims to make unlisted share investing accessible. The current minimum investment for Fino Paytech Unlisted Shares is approximately 35,000 – 50,000 INR.
Limited Liquidity: Unlisted shares are not traded on public exchanges, making it potentially harder to find buyers when you want to sell.
Price Volatility: Prices can fluctuate more than listed shares due to less publicly available information.
Regulatory Changes: Regulations for unlisted shares can change, affecting their value and trading.
Company-Specific Risks: Each company has its own risks related to its industry, financials, and management.
No Guarantee of Listing: There’s no assurance that unlisted shares will ever be listed on a public exchange.
Market Leader: Unlistify is one of India’s fastest-growing unlisted share platforms.
Transparency: We provide clear information about each unlisted share, including potential risks.
Security: We prioritize the protection of your financial information.
Customer Support: Our team is dedicated to guiding you through the investment process.
Latest Funding: We consider the valuation from Fino Paytech most recent funding round.
Comparable Companies: If there’s no recent funding, we analyze similar listed companies to estimate a fair value.
SEBI’s Influence: SEBI regulations do apply to some aspects of unlisted share trading, such as lock-in periods and transaction charges. However, there are no specific SEBI regulations for becoming an unlisted broker.
We aim for same-day transfer of Fino Paytech Unlisted Shares to your Demat account after your payment is confirmed.
Tax Transition: Once your unlisted Fino Paytech shares are listed and sold on an exchange, standard listed share tax rules apply.
Holding Period: Your holding period (for determining long-term vs. short-term capital gains tax) starts from the original unlisted purchase date.
