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PINELABS.NS

Pine Labs Ltd.

Financial Services
Price research

Price history

Max window · 2025-11-14 to 2026-09-22

Start 2025-11-14 ₹250.89
End 2026-09-22 ₹197.58
Change over window -21.25%
Methodology

Price is the daily close from stored Kite history. The other metrics pair that daily price with the company's periodic filings — each fundamental (revenue, EPS, equity…) is held flat at its latest filed value between annual filings, so a ratio steps at each filing and moves daily only through its price term. A metric with no input on file for this company (e.g. EV/EBITDA for a bank, which has no EBIT) is shown as unavailable, never guessed. Share-count-based metrics use the latest diluted share count against split/bonus-adjusted prices.

Technical analysis

Technical indicators

Same window as the price chart above

These reflect only the stock's recent price and volume behavior — not the company's fundamentals — and are not a recommendation to buy or sell. Standard published parameters are used throughout (see each chart's own label); a company with too little stored price history for a given indicator's lookback window shows that plainly below rather than a garbage or misleading value.

Latest value of each line in the charted window
Methodology

MACD (12,26,9), Stochastic Oscillator (14,3) and Money Flow Index (14-day) each carry their own published reference lines/bands (20/80 for the oscillator readings) where one is standard. ADX includes +DI/-DI for direction alongside trend strength; a dashed line marks the commonly published 25 "trending market" reading. ATR is shown in raw rupees here; the price/volume preset screen (below, and on the Screener page) reports it as a % of price so it's comparable across stocks at different price levels. Computed from the same stored daily OHLCV history as the price chart above — no new data source.

Ratios as of FY2025-26 Annual filing · published 2026-05-25
Price (live) ₹197.58 INR fetched 2026-09-23 02:33
Fundamental analysis

Ratios

Calculated from this company's filed figures, and from the current price where a ratio needs one. Every ratio shows its source trace: the filed elements it reads and the arithmetic behind the result.

P/E

201.65

P/E = Price / EPS

Source trace FY2025-26 · Annual filing

P/E = Price / (ProfitLossForPeriod / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) → ₹197.58 / (₹1,125,100,000 / 1,148,300,000 shares) = ₹197.58 / ₹0.98 EPS

ROE

1.91%

ROE = Net Income / Shareholder Equity

Source trace FY2025-26 · Annual filing

ROE = ProfitLossForPeriod / EquityAttributableToOwnersOfParent → ₹1,125,100,000 / ₹58,954,100,000 = 1.91%

Debt/Equity

0.05

Debt/Equity = Total Debt / Shareholder Equity

Source trace FY2025-26 · Annual filing

Debt/Equity = BorrowingsCurrent + BorrowingsNoncurrent / EquityAttributableToOwnersOfParent → ₹2,828,700,000 / ₹58,954,100,000 = 0.05

Current Ratio

1.52

Current Ratio = Current Assets / Current Liabilities

Source trace FY2025-26 · Annual filing

Current Ratio = CurrentAssets / CurrentLiabilities → ₹108,843,300,000 / ₹71,841,200,000 = 1.52

ROCE

3.64%

ROCE = EBIT / (Shareholder Equity + Total Debt)

Source trace FY2025-26 · Annual filing

ROCE = ProfitBeforeExceptionalItemsAndTax + FinanceCosts / (EquityAttributableToOwnersOfParent + BorrowingsCurrent + BorrowingsNoncurrent) → ₹2,249,100,000 / (₹58,954,100,000 + ₹2,828,700,000) = 3.64%

Dividend Yield

0.00%

Dividend Yield = (Dividends Paid / Diluted Shares Outstanding) / Price

Qualification This is cash paid during the fiscal year, not a per-share rate declared for it (no such element exists in the filing data) — timing can straddle interim/final dividends across years, and pre-FY2020-21 figures may include the since-abolished Dividend Distribution Tax, reading higher than later years for that reason alone.

Source trace FY2025-26 · Annual filing

Dividend Yield = (|DividendsPaidClassifiedAsFinancingActivities| / PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital) / Price → (₹0 / 1,148,300,000 shares) / ₹197.58 = ₹0.00 / ₹197.58

Growth & quality

Growth & earnings trend

Computed from this company's stored annual filings. Each figure carries the filed values behind it as a tooltip.

Revenue CAGR · 3y N/A
Net profit CAGR · 3y N/A
Operating margin · FY2025-26 8.3%
ROCE · FY2025-26 3.6%

Revenue & Profit CAGR

Revenue (3y, —y actual)
N/A
Net Profit (3y)
N/A
Revenue (5y, —y actual)
N/A
Net Profit (5y)
N/A
Revenue (10y, —y actual)
N/A
Net Profit (10y)
N/A

Operating Margin Trend

FY2025-26
8.3%

Needs operating margin for 2+ stored years.

ROCE Trajectory

FY2025-26
3.6%

Earnings Quality

Needs net profit and CFO for 3+ stored years; only 1 on file.

Sector-Relative Percentile

Sector · Financial Services
ROE 6th percentile Better than 5 of 88 sector peers (6th percentile).
ROCE 6th percentile Better than 4 of 62 sector peers (6th percentile).
Debt/Equity 81th percentile Better than 71 of 88 sector peers (81th percentile).
P/E 2th percentile Better than 2 of 88 sector peers (2th percentile).
Forensic accounting

Beneish M-Score

Eight year-over-year accounting indices (Beneish, 1999) computed for Pine Labs Ltd. across its two most recently stored annual filings. Read the disclosures below before anything past this paragraph.

This is not an accusation and not a finding that any manipulation occurred. Beneish's own paper is explicit that the score identifies companies whose accounting CHARACTERISTICS resemble those of a sample of past manipulators -- nothing more. StockProof never labels a company "manipulator", "red flag" or "suspicious", and never shows any list of companies ordered by this score. The eight components below -- factual statements about figures the company itself filed -- always come before the composite number, which is the inference, not the fact.

The M-Score is calibrated on 74 US-listed companies from 1982-1992 later found to have manipulated earnings (Beneish, M. D. (1999), "The Detection of Earnings Manipulation", Financial Analysts Journal 55(5)) -- not on any Indian company or era. Measured on StockProof's own Nifty 500 universe as of 2026-09-02, 13.6% of companies score above Beneish's own published cutoff. On any realistic base rate of actual earnings manipulation, that flag rate is overwhelmingly false positives, not overwhelmingly real ones.

No "Selling, General & Administrative Expense" element exists anywhere in NSE's filed data. The SGAI component below is approximated as Employee Benefit Expense + Other Expenses, divided by revenue -- a reasonable stand-in for a manufacturer, but for a services company this proxy is closer to the entire cost base than to SG&A specifically. This is disclosed because it is a genuine deviation from Beneish's published specification; its coefficient (-0.172) is the smallest of the eight, which bounds how far the approximation can move the composite.

This measures something different from a financial-distress score like Altman's Z-Score, and the two essentially never agree. Measured on StockProof's own 389-company overlap as of 2026-09-02: only 5 companies were flagged by both, an agreement rate (intersection ÷ union) of 6.2%, and a correlation between the two scores of +0.088 -- closely matching the independently measured +0.092 over 3,242 Malaysian-listed companies. A low Z-Score and a high M-Score are not corroborating each other; they are unrelated measurements.

Index Value Beneish's own threshold Reading, vs. that threshold
DSRI — Days' Sales in Receivables Index N/A 1.031 Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.
GMI — Gross Margin Index N/A 1.014 Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.
AQI — Asset Quality Index N/A 1.039 Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.
SGI — Sales Growth Index N/A 1.134 Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.
DEPI — Depreciation Index N/A 1.077 Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.
SGAI — SG&A Index N/A 1.041 Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.
LVGI — Leverage Index N/A 1.111 Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.
TATA — Total Accruals to Total Assets N/A 0.018 Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.

Composite M-Score not computable — Beneish's model compares this year's figures to last year's; it needs at least 2 stored annual years, and only 1 year is on file.

Financials

Quarterly trend

4 stored quarters

Revenue Net Profit Net Profit (loss quarter)
Metric (to shareholders basis) Q2 FY2025-26 Q3 FY2025-26 Q4 FY2025-26 Q1 FY2026-27 Source
Revenue ₹649.90 Cr. ₹744.27 Cr. ₹700.51 Cr. ₹736.92 Cr. RevenueFromOperations
Net Profit ₹5.97 Cr. ₹42.39 Cr. ₹59.36 Cr. ₹19.57 Cr. ProfitOrLossAttributableToOwnersOfParent
Basis

Primary figures are Revenue from Operations and Net Profit attributable to shareholders — the basis the ratios use. Where they differ, the companion Gross revenue (incl. inter-segment) and incl. minority net profit (the totals a news headline usually quotes) are shown beneath, each traceable to its own XBRL element. Quarters shown are however many are actually stored (up to 10).

Ownership

Shareholding pattern

Latest filing Jun 2026 · 4 filings on file

Promoter & Promoter Group
0.00%
Public
100.00%
Employee Trusts
0.00%
Promoter % Public %
Metric Nov 2025 Dec 2025 Mar 2026 Jun 2026
Promoter & Promoter Group 0.00% 0.00% 0.00% 0.00%
Public 100.00% 100.00% 100.00% 100.00%
Employee Trusts 0.00% 0.00% 0.00% 0.00%
Source

Promoter vs. public shareholding, from NSE's own quarterly shareholding-pattern filings. This is the headline promoter/public split only — a further breakdown by FII/DII/mutual fund holders requires each filing's own detailed disclosure and isn't shown here.

Trading activity

Delivery volume

20 trading days shown

Latest (2026-09-22) 16.6%
Trailing 20-day average 36.0%
Date Traded Qty Delivery Qty Delivery %
2026-09-22 82008849 13640795 16.63%
2026-09-21 18744636 5671980 30.26%
2026-09-18 66808323 31329386 46.89%
2026-09-17 47871043 8489408 17.73%
2026-09-16 112454490 26307231 23.39%
2026-09-15 62792856 21246610 33.84%
2026-09-11 276696049 54284336 21.00%
2026-09-10 15911117 6368326 40.02%
2026-09-09 40668170 12214327 30.03%
2026-09-08 38342385 12918879 33.69%
2026-09-07 10783461 5367314 49.77%
2026-09-04 46587163 18244788 39.16%
2026-09-03 17143077 7771526 45.33%
2026-09-02 20367566 6608950 32.45%
2026-09-01 6836836 3263354 47.73%
2026-08-31 20261585 11593609 57.22%
2026-08-28 8248186 3896749 47.24%
2026-08-27 31650500 10319298 32.60%
2026-08-26 13295971 4892213 36.79%
2026-08-25 32244404 12414737 38.50%
Source

Delivery quantity/percentage from the NSE bhavcopy (DELIV_QTY/DELIV_PER) — the share of that day's traded volume that actually settled into a demat account, rather than being squared off intraday. A higher delivery percentage is commonly read as genuine accumulation/distribution rather than speculative same-day trading; this describes recent trading PATTERN, not the company itself, and is not a recommendation to buy or sell. A blank cell is a day NSE itself published no figure for, never a zero.

Insider trading activity

20 disclosures shown

Disclosed Person Category Type Mode Quantity Value (₹) Resulting stake Source
02 Jan 2026 Shankar Balan - Sell Market Sale 29117 6951005 0.01% XBRL
02 Jan 2026 Anand Kuppuswamy - Sell Market Sale 95000 22542540 0.02% XBRL
02 Jan 2026 Saurabh Sharma - Sell Market Sale 8995 2147556 0.02% XBRL
30 Dec 2025 Swarnendu Mukherjee - Pledge Revoke - 100616 71050938 0.03% XBRL
30 Dec 2025 Swarnendu Mukherjee - Sell Market Sale 26021 6334685 0.03% XBRL
30 Dec 2025 K N Kailash - Sell Market Sale 7654 1794683 0.00% XBRL
30 Dec 2025 K N Kailash - Sell Market Sale 2200 540935 0.00% XBRL
30 Dec 2025 Sami Afsar - Sell Market Sale 17000 4105598 0.01% XBRL
30 Dec 2025 Shankar Balan - Sell Market Sale 8263 1968331 0.01% XBRL
26 Dec 2025 Swarnendu Mukherjee - Sell Market Sale 90000 21841479 0.03% XBRL
26 Dec 2025 Shankar Balan - Sell Market Sale 8500 1997500 0.02% XBRL
26 Dec 2025 Saurabh Sharma - Sell Market Sale 8494 1989380 0.02% XBRL
26 Dec 2025 Shankar Balan - Sell Market Sale 41000 9750930 0.01% XBRL
23 Dec 2025 Shankar Balan - Sell Market Sale 11109 2499525 0.03% XBRL
23 Dec 2025 Shankar Balan - Sell Market Sale 88391 20540578 0.02% XBRL
19 Dec 2025 Navin Ashokkumar Chandani - Sell Market Sale 39999 9266542 0.01% XBRL
16 Dec 2025 Srinivasan Jayachandran - Sell Market Sale 7500 1837500 0.00% XBRL
16 Dec 2025 Swarnendu Mukherjee - Sell Market Sale 25000 6050000 0.04% XBRL
16 Dec 2025 Mayank Agarwal - Sell Market Sale 2000 483000 0.00% XBRL
16 Dec 2025 Mayank Agarwal - Sell Market Sale 4867 1153479 0.00% XBRL
About these disclosures

SEBI PIT (Prohibition of Insider Trading) Regulation 7 disclosures — designated persons (promoters, directors, KMPs, and their immediate relatives) reporting their own dealing in the company's securities, as NSE publishes them. Distinct from the SAST (Regulation 29 substantial-acquisition) filings on the market-wide SAST activity page. Public record only — this is descriptive disclosure data, not a signal, and is not a recommendation to buy or sell.

Filings & evidence

Source documents

FY2025-26 · Annual filing

The raw filing line items behind the figures on this page, and NSE's own filing document where NSE publishes one.

Source document — income statement (FY2025-26, raw filing line items)
Line itemFiled value
ProfitLossForPeriod1125100000.0
PaidUpValueOfEquityShareCapital ÷ FaceValueOfEquityShareCapital1148300000.0
Source document — balance sheet (FY2025-26, raw filing line items)
Line itemFiled value
CurrentAssets108843300000.0
CurrentLiabilities71841200000.0
EquityAttributableToOwnersOfParent58954100000.0
BorrowingsCurrent + BorrowingsNoncurrent2828700000.0
Research notes

My notes