Veefin Solutions Ltd

BSE: 543931

₹ 210-6.27%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 536 crNext results: 26 Oct 2026Website: www.veefin.comUpdated: 24 Oct 2026

About

Veefin Solutions builds digital lending and transaction banking software for banks and lenders, including supply chain finance, trade finance, cash management, internet banking, loan origination and loan management, collections and fraud/risk tools. Its group also has a services arm. Consolidated revenue was Rs 345.13 Cr in FY26, with Services making up 65.0% and Product 35.0%.^[1][2][3]

Business segments

Services: Rs 224.45 Cr revenue in FY26, 65.0% of total, with segment EBIT margin of 11.8%.^[3]
Product: Rs 120.68 Cr revenue in FY26, 35.0% of total, with segment EBIT margin of 25.2%.^[3]
Management's combined product view (Veefin + Estorifi + GlobeTF) had FY26 revenue of Rs 91.75 Cr at a 48.7% EBITDA margin.^[1]
Standalone operating revenue rose from Rs 37.32 Cr to Rs 70.74 Cr in FY26, about 90% higher than the year before.^[1]

Products and platform

As of FY26 the product suite covers SCF, trade finance, cash management, internet banking, LOS, LMS, collections, fraud/risk and GenAI products, all built on the common Veefin 4.0 architecture.^[1]
In FY25, 87% of clients were on SaaS pricing, and every deal signed that year was on SaaS terms.^[4]
Disbursement annual run rate handled on the platform was Rs 3,25,000 crore in FY25.^[4]
Infini's API gateway, which offers fraud and risk detection for lenders, had 5 clients as of Q3 FY25.^[5]
Securitization platform deprioritised in FY26 due to macro conditions.^[1]

Key operating numbers

Qualified pipeline was $80 million across 58 opportunities in FY26, up from $45M across 85 deals in H1 FY26. 75% of it is non-SCF and 70% is international.^[1][6]
Standalone DSO was 99 days in FY26, down from about 130 days.^[1]
25 new deals were signed and 21 clients went live in FY25.^[4]
Voluntary attrition was about nil in H1 FY26, with product-side headcount of about 600.^[6]

PSB Xchange

As of FY26, corporates had placed cumulative requirements of Rs 22,000 Cr on the platform, approved limits stood at Rs 5,400 Cr, and 88 corporate deals were active.^[1]
Lender integrations in FY26: 32 tracked, of which 3 are live and 5 are in progress. Sourcing partners: 42 tracked, of which 6 are live.^[1]
Revenue model of about 45 bps in total: 10 for sourcing, 20 for technology and 15 for onboarding (H1 FY26).^[6]

Customers and markets

FY25 wins included HSBC, the company's first UAE bank, a 5-country rollout in Africa, the largest bank in Rwanda, and Jio Finance.^[4]
Go-lives included HSBC, JioFinance, Central Bank of India, JSWOne and Riyadh Bank (Q3 FY25).^[5]
UCO Bank adopted the full Veefin stack for supply chain finance through PSB Xchange.^[5]
In H1 FY26, India made up 40% of the pipeline, and Africa, Asia and MENA together made up more than 50%.^[6]

Expansion and corporate plans

The amalgamation of GlobeTF and Estorifi into Veefin has BSE and SEBI approval and moved to the NCLT in FY26.^[1]
Management expects FY27 consolidated capex to be materially lower than FY26's Rs 187 Cr.^[1]
Eligible to move to the main board by July 2026. White Rivers Media plans to file its DRHP around September 2026.^[1]
Joint ventures for PSB Xchange-style platforms in 6 interested countries are expected in FY27.^[1]

Recent developments

A preferential allotment of Rs 94.32 crore was announced in H1 FY26.^[6]
Saurabh Dhawan, a former NBFC CEO, was hired as CEO of PSB Xchange (H1 FY26).^[6]
The FY26 annual report proposes raising the borrowing limit from INR 200 Crore to INR 500 Crores.^[7]
The FY26 annual report proposes raising the ESOP 2023 pool from 38,00,000 to 48,00,000 options.^[7]
Nityo Tech is to sell 854 WRM shares (5.77%) to Infini Systems for INR 20 Crores.^[7]

Market Cap

₹536 Cr

High / Low

₹403 / 206

Stock P/E

13.0

Price / Book

0.9

Book Value

₹234

EPS

₹16.1

No. of Shares

2.55 Cr

ROCE

9.9%

ROE

6.9%

OPM

18.2%

Debt / Equity

0.17

Sales

₹345 Cr

Net Profit

₹32 Cr

Promoter holding

34.7%

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