543931
Veefin Solutions financials
- Market cap
- ₹640 Cr
- Sector
- Information Technology
- Calls analysed
- 6
Veefin Solutions Q1 FY27
What went well
- Standalone revenue of ₹23.14 crores, up 128% YoY, demonstrating strong growth.
- Standalone EBITDA of ₹12.83 crores, up 133% YoY, with margin expanding to 55.4%.
- Standalone PAT of ₹6.74 crores, up 151% YoY, indicating strong operating leverage.
What to watch
- Console PAT for Q1 FY27 was 40% lower QoQ compared to Q4 FY26, attributed to Q1 being the slowest quarter for services.
- PSB Xchange platform build-out and lender integrations are slower than anticipated due to bank bandwidth issues.
What Veefin Solutions does
Veefin Solutions builds software platforms for banks and financial institutions that power supply-chain finance (SCF), digital lending, transaction banking (cash management and trade finance), and fraud/risk and compliance management. Its flagship Veefin 4.0 platform runs SCF, cash management and trade finance on a single microservices-based chassis so banks can plug in one or all modules, while PSBXchange connects public-sector banks, SMEs and fintechs on one origination-to-servicing ecosystem. The group has broadened this suite through acquired product companies covering Generative-AI credit workflows (Walnut.AI), loan origination and collections (Ezee.AI), GST/AR-AP automation (TaxGenie, PayInvoice) and a fraud/KYC API suite (Infini Systems).
Segments
- Supply Chain Finance (SCF)
- Transaction Banking
- Digital Lending
- Fraud & Risk Solutions
- Automated AR/AP & GST Compliance
- AI-Infused Financial Workflows
- PSBXchange
- Group subsidiaries / step-down subsidiaries
- 14 entities spanning SCF, transaction banking, digital lending, fraud-risk, AI and tax-compliance
- Annual recurring disbursement processed on platform
- ~$35 billion (FY24-25)
- PSB Xchange lender integrations
- 32 tracked, 3 live
- PSB Xchange sourcing-partner integrations
- 42 tracked, 6 live
- PSB Xchange approved financing limits
- ₹5,400 crore against ₹22,000 crore cumulative requirement
- Fraud & Risk API categories integrated
- 20+ (KYC, KYB, AML/PEP, GST/MCA/ITR checks, video-KYC, deepfake detection)
Guidance record · Q1 FY27
what the last two calls moved 12 tracked 2 delivered 3 missed 7 open- DRHP Filing Date went quiet said Q3 FY26 Promised: White Rivers Media DRHP to be filed in June-July 2026 Q1 FY27: No mention of White Rivers Media or the DRHP filing in the earnings call or presentation.
- Merger Effective Date on track said Q3 FY26 Promised: Amalgamation to be effective April 1, 2026 Q1 FY27: Management reports being at step 5 of 7 in the amalgamation process (filing the second NCLT motion) and expects completion within FY27.
- New Product Monetization delivered said Q4 FY25 Promised: Have paying customers for all new products launched this year (FY26) Q4 FY26: Management view of amalgamated entity (including new product companies) reported ₹91.75 crores revenue for FY26, confirming monetization.
All 12 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 90.0%, net profit down 20.8% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9 | 16 | 19 | 60 | 110 +1122% | 104 +548% | 131 +591% | 114 +90% |
| EBITDA | 2 | 9 | 6 | 19 | 20 +900% | 21 +130% | 34 +472% | 22 +18% |
| Net profit | 1 | 6 | 4 | 12 | 8 +700% | 8 +30% | 16 +300% | 10 −21% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −35.4% 1Y
1Y: ₹392.2 on 10 Sept 2025 → ₹253.5. High ₹406.1 (19 Sept 2025), low ₹223 (23 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −7.3%
- 13 Aug
- Q4 FY26
- +2.7%
- 14 May
- Q3 FY26
- +3.4%
- 27 Jan
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹18 Cr | ₹23 Cr | ₹24 Cr | ₹25 Cr |
| Reserves | ₹9 Cr | ₹26 Cr | ₹102 Cr | ₹492 Cr | ₹571 Cr |
| Borrowings | ₹4 Cr | ₹1 Cr | ₹5 Cr | ₹111 Cr | ₹101 Cr |
| Other liabilities | ₹3 Cr | ₹7 Cr | ₹15 Cr | ₹225 Cr | ₹307 Cr |
| Total liabilities | ₹16 Cr | ₹52 Cr | ₹145 Cr | ₹852 Cr | ₹1.0k Cr |
| Fixed assets | ₹14 Cr | ₹41 Cr | ₹94 Cr | ₹645 Cr | ₹743 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹8 Cr |
| Other assets | ₹2 Cr | ₹11 Cr | ₹51 Cr | ₹206 Cr | ₹254 Cr |
| Total assets | ₹16 Cr | ₹52 Cr | ₹145 Cr | ₹852 Cr | ₹1.0k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Mar 2025, the public added +6.80 pp while others trimmed −5.09 pp. The shareholder count shrank 1% to 4,833.
- Promoters
- 34.7%
- FIIs
- 2.8%
- DIIs
- 0.0%
- Public
- 62.4%
- Others
- 0.0%
Since Mar 2025
- Public +6.80 pp
- Others −5.09 pp
- DIIs −2.33 pp
How it drifted, 8 quarters
Over this window promoters fell from 39.8% to 34.7% — −5.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 39.8%, FIIs 0.1%, DIIs 1.2%, Public 59.0%.Mar '24: Promoters 39.8%, DIIs 1.9%, Public 58.2%.Sep '24: Promoters 37.4%, FIIs 1.6%, DIIs 2.9%, Public 58.1%.Mar '25: Promoters 35.3%, FIIs 1.7%, DIIs 2.4%, Public 55.6%, Others 5.1%.Sep '25: Promoters 35.3%, FIIs 2.3%, DIIs 0.1%, Public 61.0%, Others 1.3%.Dec '25: Promoters 36.4%, FIIs 2.4%, DIIs 0.1%, Public 60.1%, Others 1.1%.Mar '26: Promoters 34.7%, FIIs 3.2%, DIIs 0.1%, Public 61.6%, Others 0.4%.Jun '26: Promoters 34.7%, FIIs 2.8%, DIIs 0.0%, Public 62.4%, Others 0.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Veefin Solutions above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Raja Debnath | 29.30% | unchanged |
| Rajendran Ajay | 14.74% | unchanged |
| Gautam Vijay Udani | 5.43% | unchanged |
| Jigar Praful Shah | 2.01% | unchanged |
| Sr Global Fund L.P. - Class P (Pan-Asia Select Portfolio) FPI fund | 1.28% | unchanged |
| Binny Viral Shah | 1.09% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse Veefin Solutions
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