About Fino PayTech Limited Unlisted Shares
Fino Pay Tech Limited was established on July 13, 2006, headquartered in Mumbai, and has offices throughout India. Fino Pay Tech Limited is a business and banking technology platform with a complete service channel that can meet the financial service needs of all customers. Fino Pay Tech Limited is an investor-institutional company owned by international and Indian investors. The company has grown into a thought leader for organizations such as banks, microfinance organizations, insurance companies, and government agencies, as well as an innovator and developer of technology solutions. As an alternative banking channel, Fino Pay Tech Limited provides comprehensive procurement and customer services.
Fino Pay Tech Limited uses its rich hands-on experience to develop appropriate advanced management solutions for all aspects of this field to reach operational efficiency even higher. The solutions include Customer Enrolment Solutions, Hardware Solutions, and Operations Solutions.
The company provides services to beneficiaries on behalf of customers in certain remote areas of the country. Its model allows them to provide services to a wide range of clients such as Business Correspondents Services, Consultancy Services, Financial Literacy, etc.
Fino Pay Tech Limited, through its business correspondent model, offers technology solutions to improve the operational efficiency of social benefit schemes like Mahatma Gandhi National Rural Employment Guarantee Scheme – MGNREGs and Social Security Pensions – SSP.
Leveraging its experience in the micro-finance sector and applying it in the micro-insurance sphere, Fino Pay Tech Limited has created a model that is efficient, scalable, sustainable, cost-effective, interoperable, and profitable.
A Terminal Management System manages issuance, blocking, and application updating of POS devices; and a Card Management System manages issuance, hot listing, and re-issuance of cards.
All these systems are an outcome of Fino Pay Tech Limited’s extensive field experience gained over the past years by serving in tough and remote locations. These systems provide services that are extremely relevant to entities operating in this sector.
Fino PayTech Outstanding Shares: |
131,379,163 |
Face Value of Fino PayTech Unlisted Share: |
Rs. 10 Per Equity Share |
ISIN of Fino PayTech Unlisted Share: |
INE511I01011 |
Lot Size of Fino PayTech Unlisted Share: |
100 Shares |
Fino PayTech Share Price: |
Best in Industry |
PAN Number of Fino PayTech: |
AAACF9869M |
Fino PayTech Limited CIN Number |
U72900MH2006PLC162656 |
Fino PayTech Limited Registration Date |
15-Jun-06 |
Category / Sub-Category of Fino PayTech |
Company limited by Shares |
Fino PayTech Limited Registered Office Address |
Shree Sawan Knowledge Park, 2nd Floor, D - 507, TTC Industrial Area, MIDC Turbhe, Navi Mumbai - 400705 |
Fino PayTech Limited Registrar & Transfer Agent Address and Contact Details |
Adroit Corporate Services Private Limited 19, Jaferbhoy Industrial Estate 1st Floor, Makawana Road Marol Naka, Mumbai - 400059 |
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY
Name and Description of main products/services |
NIC Code of the Product/ service |
% to the total turnover of the company |
Activities auxiliary to Financial service activities |
66190 |
97.07 |
BOARD OF DIRECTORS
Mr. Ashok Kini (Non-Executive Chairman, Independent Director)
Dr. Anjana Grewal (Independent Director)
Mr. Amit Jain (Nominee Director)
Mr. Ramakrishna Gupta (Nominee Director)
Mr. Alok Gupta (Nominee Director)
Mr. Sudeep Gupta (Whole-time Director)
PARTICULARS OF SUBSIDIARY AND ASSOCIATE COMPANIES
Name of the Company |
Subsidiary/Associate |
% of shares held |
FINO Finance Private Limited (Formerly known as Intrepid Finance & Leasing Private Limited) |
Wholly owned Subsidiary |
100 |
FINO Trusteeship Services Limited |
Associate Company |
49 |
Fino Payments Bank Limited (Formerly known as FINO Fintech Limited) |
Wholly owned Subsidiary |
100 |
FINO Financial Services Private Limited |
Wholly owned Subsidiary |
100 |
SHAREHOLDING PATTERN (As of 31-03-2020)
S. No. |
Shareholders’ Name |
No. of Shares |
% of total Shares of the company |
1 |
Bharat Petroleum Corporation Limited |
2,84,35,423 |
28.78 |
2 |
ICICI Prudential Life Insurance Company Limited |
1,13,28,854 |
11.47 |
3 |
Blackstone GPV Capital Partners (Mauritius) VI-B FDI Limited |
75,12,207 |
7.6 |
4 |
HAV 3 Holdings (Mauritius) Limited |
74,56,993 |
7.55 |
5 |
International Finance Corporation |
65,69,567 |
6.65 |
6 |
ICICI Bank Limited |
57,50,000 |
5.82 |
7 |
ICICI Lombard General Insurance Company Limited |
52,89,194 |
5.35 |
8 |
Intel Capital Corporation |
44,33,449 |
4.49 |
9 |
Exide Life Insurance Company Limited |
28,32,213 |
2.87 |
10 |
Life Insurance Corporation of India |
22,50,000 |
2.28 |
11 |
Indian Bank |
22,50,000 |
2.28 |
12 |
Union Bank of India |
22,50,000 |
2.28 |
13 |
Corporation Bank |
22,50,000 |
2.28 |
14 |
Others |
1,02,99,711 |
10.41 |
|
Total |
9,89,07,611 |
100 |
INDUSTRY OUTLOOK
Fino expects to complete a transaction of Rs. 60,000 crore in the first half of the fiscal year 2021, an increase of 36% from the Rs. 44000 crore in the same period of the previous fiscal year. It is probably to make a profit in the 2019-20 fiscal year just like this year.
The company expects the IPO in 2022 to give exit to the company's existing investors. After reducing losses and increasing revenue (year-on-year), the payment bank achieved a sustainable revenue and expenditure of approximately Rs. 689 crore in the 2019-20 fiscal year, which was higher than the Rs. 370 crore in the 2018-19 fiscal year and achieved a growth of more than 86%. By January 2020, it was Rs. 10000 crores (30 million transactions, where 45% of which were domestic remittances); the five-year plan was realized in less than three years. The bank started operations in 2017, with a modest one million transactions valued at around RS. 1,500 crore per month.
Among the seven companies currently licensed, Fino Payment Bank, India Post Payment Bank, and AirTel Payment Bank are fully operational. In contrast, Vodafone is also a licensed company in the business of NSDL Payments Bank, Jio Payment Bank, and Aditya Birla Payment Bank (ABPB). However, the merger with Idea Cellular has caused regulatory troubles for companies like Idea 49% of ABPB’s shares, ABPB’s shares make payment bank Vodafone unable to operate.
PROFIT & LOSS STATEMENT OF FINO PAY TECH LIMITED (in Rs. Lakhs)
Particulars |
2020 |
2019 |
2018 |
2017 |
Net Sales and Other Income |
85291.29 |
54739.1 |
37694.02 |
33563.68 |
EBITDA |
7384.9 |
3624.05 |
-9407.31 |
-1947.44 |
Profit before tax |
-1985.73 |
-5395.08 |
-17605.5 |
-9148.19 |
Profit after tax |
-2099.64 |
-7332.71 |
-16720.8 |
-8826.5 |
Earnings per share (EPS) (In Rs.) |
-1.66 |
-5.75 |
-13.26 |
-11.53 |
Dividend per share (In Rs.) |
0 |
0 |
0 |
0 |
BALANCE SHEET OF FINO PAY TECH LIMITED (In Rs. Lakhs)
Particulars |
31st March 2020 |
31st March 2019 |
ASSETS |
||
NON CURRENT ASSETS |
||
Tangible Assets |
8,562.10 |
3,663.56 |
Intangible Assets |
2,181.10 |
2,607.08 |
Financial Assets |
12,271.73 |
12,537.96 |
Tax Assets |
4,778.19 |
5,608.38 |
Other Non-Current Assets |
373.68 |
400.58 |
TOTAL NON CURRENT ASSETS |
28,166.80 |
24,817.56 |
CURRENT ASSETS |
||
Inventories |
2,191.42 |
2,003.89 |
Financial Assets |
38,971.70 |
45,944.23 |
Cash and Cash equivalents |
34,996.08 |
52,894.91 |
Other current assets |
1,889.87 |
1,097.25 |
TOTAL CURRENT ASSETS |
78,049.07 |
1,01,940.28 |
TOTAL ASSETS |
1,06,215.87 |
1,26,757.84 |
EQUITY AND LIABILITIES |
||
Equity share capital |
9,865.47 |
9,853.34 |
Other Equity |
11,882.43 |
14,071.87 |
Non-controlling Interests |
33.87 |
11.95 |
TOTAL EQUITY |
21,781.77 |
23,937.16 |
LIABILITIES |
||
NON CURRENT LIABILITIES |
||
Financial liabilities |
12,726.86 |
19,903.17 |
Provisions |
697.18 |
671.92 |
Other non-current liabilities |
28.37 |
141.98 |
TOTAL NON CURRENT LIABILITIES |
13,452.41 |
20,717.07 |
CURRENT LIABILITIES |
||
Borrowings |
14,038.03 |
12,412.28 |
other Financial liabilities |
53,274.43 |
66,025.70 |
Short term provisions |
1,706.14 |
1,952.39 |
Other current liabilities |
1,707.33 |
1,633.05 |
current tax liabilities(net) |
255.76 |
80.19 |
TOTAL CURRENT LIABILITIES |
70,981.69 |
82,103.61 |
TOTAL EQUITY AND LIABILITIES |
1,06,215.87 |
1,26,757.84 |
PERFORMANCE OF THE COMPANY
Net revenue of the Company was Rs. 85,291.29 lakhs in FY 2020 as against Rs. 54,739.10 lakhs in FY 2019 i.e. an increase of 55.81%.
Fino Pay tech’s highest revenue source is its subsidiary – Fino Payments bank limited. Fino Payments Bank Limited generated revenue of Rs. 69,100 lakhs in FY 2019-2020, which is around 81% of total revenue.
Fino Payments bank limited turned profitable at the operating level in FY 2019-20, within just 3 years of starting the operation in June 2017.
The company has shown an average growth of 37% per year over the past 3 years in Revenue of the company. The company was bearing heavy losses every year. However, losses are reducing, and the company is moving towards becoming profitable. In fact, Fino pay tech limited has shown profits standalone-wise in FY 2019-2020.
Moreover, EPS which was decreasing every year and was giving losses to shareholders has now become stable, and it is expected that the company will give positive EPS in FY 2020-2021.
The current ratio of Fino Pay tech limited is more than 1, which states that the company has no issue maintaining liquidity.
DIVIDEND AND RETAINED EARNINGS
PARTICULARS |
2020 |
2019 |
2018 |
2017 |
Dividend |
Nil |
Nil |
Nil |
Nil |
Retained Earnings (In Rs. Lakhs) |
-50,459.93 |
-47,839.51 |
-35,151.16 |
-18,345.25 |