Incorporated in 1993, Seshaasai Technologies Limited is a technology-driven, multi-location solutions provider, specializing in payment solutions, communications, and fulfilment services.[1]
Business Profile[1]Seshaasai Technologies offers Payment Solutions, Communication & Fulfilment Solutions, and IoT-based RFID Solutions catering to the Banking, Financial Services, and Insurance (BFSI) sector. It ranks among India’s top two payment card manufacturers, with a31.9% market sharein debit and credit card issuance in FY25.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | One 97 | 1340.10 | 789.99 | 85729.97 | 0.00 | 21.00 | 149.74 | 2061.00 | 24.23 | -10.14 | 7718.30 | -1.29 | 108.52 | 202.00 | 5.58 | -7.31 | 0.01 |
| 2. | PB Fintech. | 1772.00 | 177.60 | 81985.96 | 0.00 | 134.89 | 166.15 | 1613.55 | 38.24 | 5.90 | 5761.03 | 4.73 | 461.62 | 134.86 | 12.02 | 4.42 | 0.05 |
| 3. | Pine Labs | 237.08 | – | 27223.34 | 0.00 | 5.97 | 118.65 | 649.90 | 17.83 | -0.49 | 2274.27 | 9.60 | -114.13 | 5.97 | – | -1.12 | 0.23 |
| 4. | Infibeam Avenues | 16.53 | 24.29 | 5747.55 | 0.00 | 67.65 | 50.94 | 1964.91 | 93.27 | 8.65 | 5475.99 | 5.74 | 236.64 | 66.52 | 1.11 | 4.59 | 0.02 |
| 5. | Seshaasai Tech. | 279.10 | 20.99 | 4516.00 | 0.00 | 57.88 | -10.91 | 351.35 | -10.98 | 36.54 | 1462.21 | 24.62 | 222.21 | 57.88 | 3.52 | 20.96 | 0.26 |
| 6. | One Mobikwik | 228.61 | – | 1798.21 | 0.00 | -26.98 | -420.62 | 268.30 | -7.34 | -13.13 | 1071.90 | -14.94 | -163.06 | -15.15 | 3.31 | -10.83 | 0.69 |
| 7. | MOS Utility | 23.70 | 39.14 | 610.13 | 0.00 | 9.26 | 54.33 | 315.81 | 2.46 | 19.20 | 624.06 | 4.22 | 15.59 | 8.38 | 6.48 | 9.41 | 0.53 |
| – | Median: 8 Co. | 232.85 | 31.95 | 5131.77 | 0.0 | 15.13 | 52.63 | 500.62 | 21.03 | 7.28 | 1868.24 | 5.24 | 62.05 | 33.13 | 4.55 | 4.5 | 0.24 |
Standalone figures in ₹ crores
| Jun 2024 | Jun 2025 | Mar 2025 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|
Sales | 360 | 311 | 369 | 395 | 351 |
Expenses | 280 | 240 | 270 | 291 | 257 |
Operating Profit | 80 | 71 | 99 | 104 | 94 |
Other Income | 2 | 2 | 3 | 2 | 1 |
Profit before tax | 64 | 55 | 82 | 87 | 76 |
Tax % | 36% | 33% | 23% | 25% | 24% |
Net Profit | 40 | 37 | 63 | 65 | 58 |
EPS in Rs | 27.42 | 2.48 | 4.28 | 44.01 | 3.58 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
Sales | 369 | 673 | 1,146 | 1,558 | 1,462 |
Expenses | 326 | 571 | 947 | 1,267 | 1,102 |
Operating Profit | 43 | 102 | 199 | 292 | 360 |
Other Income | 1 | 4 | 8 | 11 | 10 |
Interest | 16 | 24 | 32 | 34 | 34 |
Depreciation | 13 | 27 | 32 | 36 | 41 |
Profit before tax | 16 | 54 | 142 | 233 | 295 |
Net Profit | 11 | 37 | 107 | 169 | 222 |
EPS in Rs | 444.71 | 1,464.71 | 90.39 | 114.78 | 15.05 |
Dividend Payout % | 0% | 0% | 7% | 5% | 0% |
Standalone figures in ₹ crores
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
Equity Capital | 3 | 2 | 89 | 148 | 148 | 162 |
Reserves | 108 | 181 | 201 | 287 | 490 | 1,120 |
Borrowings | 142 | 232 | 312 | 350 | 379 | 336 |
Other Liabilities | 87 | 154 | 180 | 176 | 144 | 200 |
Total Liabilities | 340 | 569 | 783 | 960 | 1,160 | 1,818 |
Fixed Assets | 127 | 225 | 285 | 351 | 428 | 450 |
Gross Block | 221.52 | 236.29 | 327.64 | 429.44 | – | – |
Accumulated Depreciation | 94.72 | 10.84 | 42.90 | 78.68 | – | – |
CWIP | 8 | 6 | 0 | 3 | 8 | 19 |
Investments | 0 | 1 | 1 | 25 | 25 | 39 |
Other Assets | 205 | 336 | 497 | 581 | 699 | 1,310 |
Total Assets | 340 | 569 | 783 | 960 | 1,160 | 1,818 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
Cash from Operating Activity | 32 | 58 | 51 | 202 | – |
Cash from Investing Activity | -21 | -41 | -72 | -114 | – |
Cash from Financing Activity | -10 | -15 | 38 | -32 | – |
Net Cash Flow | 1 | 2 | 17 | 56 | – |
Standalone Figures in ₹ Crores / Yearly
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
Debtor Days | 102 | 84 | 70 | 52 | 73 |
Inventory Days | 97 | 87 | 74 | 63 | 65 |
Days Payable | 115 | 103 | 62 | 53 | 38 |
Cash Conversion Cycle | 83 | 67 | 82 | 62 | 100 |
Working Capital Days | 34 | 7 | 13 | 16 | 37 |
ROCE % | – | 23% | 34% | 39% | 37% |
Direct from BSE filings, auto-summarised
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Nov 2025
Stock Analysis
Seshaasai Technologies Limited is a technology-driven solutions provider specializing in payment, communication, and IoT-based RFID solutions for the BFSI sector. It ranks among India's top payment card manufacturers with a significant market share.
Growth drivers include expanding IoT and Payments segments, increasing wallet share with existing clients, developing advanced payment solutions like metal and biometric cards, and potential strategic acquisitions. A new 3-year debit card contract with a PSU Bank enhances revenue visibility.
Order Book: December 2025 onwards - 3-year debit card procurement, processing, and personalization contract with a major Public Sector Bank.
H1 FY26 revenue experienced a year-on-year decline. A monitoring agency report indicated that while pre-IPO proceeds were utilized for debt repayment, substantial portions of IPO and remaining pre-IPO proceeds remained unutilized as of September 30, 2025.
The new debit card contract with a PSU Bank is set to commence in December 2025. Q3 FY26 results are expected to be declared around mid-February 2026.
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