Investec initiates coverage on India's Pine Labs at 'buy'

Pine Labs

28/08/2026 08:28

** Investec initiates coverage on Indian fintech firm Pine Labs PINL.NS at "buy" with TP of 200 rupees
** Brokerage says co's profit margins to improve to 14% by FY29E
** Adds co expects subscription revenues to grow at 10% CAGR over FY26-29E
** Says higher competition among incumbents can put pressure on co's profitability
** Adds, co might face cost pressure from cloud and other third party technology used to support the platform
** Shares last down 1.36% to 167.36 rupees   
     
     

 (Reporting by Anushka Rajvedi in Bengaluru)
 ((mailto: anushka.rajvedi@thomsonreuters.com))