Fintech platform operator running Spice Money, an agent network delivering assisted banking, payments and credit to small-town India, plus the Spice Pay UPI wallet app for consumers and merchants.
Price
Market Cap
Sector
Information Technology
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 61 | 61 | 61 | 62 | 62 | 62 | 62 | 63 |
| Reserves | 163 | 177 | 186 | 170 | 184 | 150 | 165 | 172 |
| Borrowings | 26 | 34 | 54 | 84 | 26 | 79 | 13 | 84 |
| Other Liabilities | 168 | 260 | 399 | 392 | 378 | 421 | 487 | 488 |
| Total Liabilities | 418 | 531 | 700 | 708 | 649 | 713 | 727 | 806 |
| AssetsFixed Assets | 124 | 106 | 104 | 85 | 71 | 81 | 79 | 78 |
| CWIP | 4 | 5 | 4 | 2 | 6 | 1 | 4 | 16 |
| Investments | 6 | 1 | 0 | 0 | 38 | 0 | 0 | 0 |
| Other Assets | 284 | 419 | 592 | 620 | 534 | 631 | 644 | 712 |
| Total Assets | 418 | 531 | 700 | 708 | 649 | 713 | 727 | 806 |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -33 | 57 | 119 | 149 | 6 | 42 | 12 | 64 |
| Cash from Investing | -4 | -7 | -83 | -119 | -37 | 5 | 14 | -50 |
| Cash from Financing | 1 | -27 | 0 | -8 | 26 | -56 | 48 | 4 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -46 | 42 | 113 | 134 | -6 | 37 | 3 | 48 |
| FCF Margin | — | — | — | — | — | — | — | — |
This looks cyclical, and we don't have enough quarters to establish a through-cycle earnings base. Valuing it off the current point in the cycle would be misleading.
DIGISPICE · CYCLICAL_UNMODELABLE
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