CCAVENUE
AvenuesAI share price & financials
- Price
- ₹17.06
- Market cap
- ₹5.3k Cr
- Sector
- Financial Services
- Calls analysed
- 7
AvenuesAI Limited Q1 FY27
What went well
- Q1 FY27 Gross Revenue increased by 109% year-over-year to INR 2,680 crores.
- Q1 FY27 Profit After Tax (PAT) grew by 45% year-over-year to INR 85 crores.
- Q1 FY27 EBITDA, excluding other income, increased by 41% year-over-year to INR 100 crores.
What to watch
- Q1 FY27 Net Revenue marginally declined by 3% year-over-year to INR 147 crores, impacted by compressed take rates.
- FY27 EPS guidance (INR 8.75 to INR 9.5 per share) implies flat growth compared to FY26, as incremental cash generation is reinvested into AI and other growth areas.
What AvenuesAI Limited does
AvenuesAI (formerly Infibeam Avenues) operates CCAvenue, one of India's oldest online payment aggregators, giving merchants and banks access to a payment gateway, SoftPOS/POS devices, bill-payment rails (BillAvenue), hospitality booking-and-payment tools (ResAvenue) and assisted-commerce services for the unbanked (Go Payments) across India, the UAE, Oman and Saudi Arabia. It earns mainly through per-transaction merchant discount fees and subscription/licence/maintenance fees on its enterprise e-commerce and platform software, plus interest income from merchant lending via its TrustAvenue platform. The company also holds a majority stake in Rediff.com, through which it is building consumer-facing RediffPay (UPI) and RediffOne (SaaS ERP/CRM/commerce) products, and has embedded AI-based fraud-detection, risk-scoring and transaction-routing tools (Phronetic AI) across its payments stack.
Segments
- Payments
- Platforms
- Finance
- Merchants served (online + offline)
- 10+ million
- New merchants onboarded daily
- 2,000+
- Market position in India (B2B online payment gateways)
- Top 3
- Market position in UAE (non-bank private payment players)
- Top 2
- Geographic footprint
- Pan-India presence plus operations in UAE, Oman and Saudi Arabia; planned expansion into the USA and Australia
- CCAvenue processing capacity
- 2,400 transactions per second
Guidance record · Q1 FY27
what the last two calls moved 19 tracked 6 delivered 5 missed 8 open- Provide FY27 Full Year Guidance delivered said Q4 FY26 Promised: in the first quarter call for the full year Q1 FY27: Management provided detailed FY27 guidance for revenue (INR 11k-13k cr) and EPS (INR 8.75-9.5) during the Q1 FY27 call, as promised.
- RediffPay TPAP Rollout went quiet said Q3 FY25 Promised: by end of this quarter (Q4 FY25) Q1 FY27: The original promise for a TPAP rollout by Q4 FY25 remains unaddressed. While the RediffPay UPI app is now slated for production launch, this is a different scope from the original TPAP promise.
- International Revenue Contribution at risk said Q3 FY25 Promised: 20% to 25% of the overall revenue in the next 2 years. Q1 FY27: Management acknowledged macroeconomic headwinds in the Middle East but did not provide an update on the original 20-25% target due by Q3 FY27. The focus remains on building capabilities (e.g., UAE license) rather than reporting progress against this specific metric.
All 19 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 109.4%, net profit up 46.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,017 | 1,070 | 1,161 | 1,280 | 1,965 +93% | 2,381 +123% | 2,490 +114% | 2,680 +109% |
| EBITDA | 78 | 78 | 75 | 71 | 90 +15% | 96 +23% | 91 +21% | 100 +41% |
| Net profit | 47 | 64 | 55 | 58 | 68 +45% | 80 +25% | 89 +62% | 85 +47% |
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 +1.4% 1Y
1Y: ₹16.07 on 10 Sept 2025 → ₹16.29. High ₹20.12 (19 Nov 2025), low ₹13.15 (27 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −6.4%
- 11 Aug
- Q4 FY26
- −1.1%
- 29 May
- Q3 FY26
- +1.7%
- 13 Feb
- Q2 FY26
- +8.0%
- 13 Nov
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.
Financials, as filed
Revenue grew 60.5% a year over 2 years, FY24 to FY26. Operating margin narrowed to 4.3%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹3.2k Cr | ₹4.0k Cr | ₹8.1k Cr |
| Operating profit | ₹251 Cr | ₹300 Cr | ₹348 Cr |
| Operating margin | 8.0% | 7.5% | 4.3% |
| Interest | ₹3 Cr | ₹8 Cr | ₹18 Cr |
| Depreciation | ₹67 Cr | ₹70 Cr | ₹77 Cr |
| Net profit | ₹155 Cr | ₹235 Cr | ₹295 Cr |
| Net margin | 4.9% | 5.9% | 3.6% |
| Cash from operations | ₹728 Cr | ₹72 Cr | ₹537 Cr |
| Free cash flow | ₹437 Cr | ₹-304 Cr | ₹196 Cr |
| ROCE | 6.0% | 9.0% | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹133 Cr | ₹268 Cr | ₹268 Cr | ₹278 Cr | ₹315 Cr | ₹349 Cr |
| Reserves | ₹2.8k Cr | ₹2.7k Cr | ₹2.9k Cr | ₹3.1k Cr | ₹3.9k Cr | ₹4.4k Cr |
| Borrowings | ₹20 Cr | ₹0 Cr | ₹8 Cr | ₹83 Cr | ₹79 Cr | ₹430 Cr |
| Other liabilities | ₹642 Cr | ₹896 Cr | ₹930 Cr | ₹1.7k Cr | ₹2.0k Cr | ₹2.1k Cr |
| Total liabilities | ₹3.5k Cr | ₹3.9k Cr | ₹4.1k Cr | ₹5.1k Cr | ₹6.2k Cr | ₹7.3k Cr |
| Fixed assets | ₹2.1k Cr | ₹2.1k Cr | ₹2.1k Cr | ₹2.1k Cr | ₹2.7k Cr | ₹3.1k Cr |
| Capital work in progress | ₹16 Cr | ₹146 Cr | ₹74 Cr | ₹311 Cr | ₹140 Cr | ₹1 Cr |
| Investments | ₹457 Cr | ₹394 Cr | ₹461 Cr | ₹543 Cr | ₹505 Cr | ₹814 Cr |
| Other assets | ₹976 Cr | ₹1.2k Cr | ₹1.4k Cr | ₹2.2k Cr | ₹2.9k Cr | ₹3.4k Cr |
| Total assets | ₹3.5k Cr | ₹3.9k Cr | ₹4.1k Cr | ₹5.1k Cr | ₹6.2k Cr | ₹7.3k 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 Jun 2025, the public added +0.52 pp while FIIs trimmed −0.45 pp. The shareholder count shrank 8% to 7,21,157.
- Promoters
- 27.3%
- FIIs
- 5.9%
- DIIs
- 0.2%
- Public
- 66.2%
- Others
- 0.4%
Since Jun 2025
- Public +0.52 pp
- FIIs −0.45 pp
- Promoters −0.07 pp
How it drifted, 12 quarters
Over this window the public went from 64.0% to 66.2% — +2.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 29.1%, FIIs 6.3%, DIIs 0.1%, Public 64.0%, Others 0.5%.Dec '23: Promoters 28.1%, FIIs 6.3%, DIIs 0.1%, Public 65.0%, Others 0.4%.Mar '24: Promoters 27.4%, FIIs 7.5%, DIIs 0.1%, Public 64.6%, Others 0.4%.Jun '24: Promoters 27.4%, FIIs 6.6%, DIIs 0.1%, Public 65.5%, Others 0.4%.Sep '24: Promoters 27.4%, FIIs 6.8%, DIIs 0.1%, Public 65.2%, Others 0.4%.Dec '24: Promoters 27.4%, FIIs 7.2%, DIIs 0.1%, Public 64.9%, Others 0.4%.Mar '25: Promoters 27.4%, FIIs 7.7%, DIIs 0.2%, Public 64.3%, Others 0.4%.Jun '25: Promoters 27.4%, FIIs 6.4%, DIIs 0.2%, Public 65.7%, Others 0.4%.Sep '25: Promoters 27.3%, FIIs 5.9%, DIIs 0.2%, Public 66.2%, Others 0.4%.Dec '25: Promoters 27.3%, FIIs 5.7%, DIIs 0.2%, Public 66.4%, Others 0.4%.Mar '26: Promoters 27.3%, FIIs 5.7%, DIIs 0.2%, Public 66.3%, Others 0.4%.Jun '26: Promoters 27.3%, FIIs 5.9%, DIIs 0.2%, Public 66.2%, Others 0.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Thakkar Nileshkumar Farshuram (Huf) +0.14 pp 1.17% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of AvenuesAI Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Vishwas Ambalal Patel | 10.96% | unchanged |
| Infinium Motors Private Limited | 9.35% | unchanged |
| Vishal Ajitbhai Mehta | 8.58% | unchanged |
| Mayur Mukundbhai Desai | 4.35% | unchanged |
| Ajit Champaklal Mehta | 3.45% | unchanged |
| Jayshreeben Ajitbhai Mehta | 3.45% | unchanged |
| Nirali Vishal Mehta | 2.20% | unchanged |
| Hn Safal Infra Developers Private Limited | 1.89% | unchanged |
| Vijayakumar Vadathavoor Subramanian | 1.85% | unchanged |
| Diptiben Ileshkumar Shah | 1.20% | unchanged |
| Thakkar Nileshkumar Farshuram (Huf) | 1.17% | +0.14 pp |
| Shaival M Desai HUF | 1.12% | 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 (7)
Read the Q1 FY27 call →Learn to analyse AvenuesAI Limited
Guides on how to read this kind of business and the numbers that matter.