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Pine Labs announced the extension of its technology partnership with Woolworths Group, extending its role in powering their gift card ecosystem through enhanced platform capabilities, deeper API integrations, and support for new digital stored-value experiences.
Through its Qwikcilver subsidiary, Pine Labs powers the technology platform supporting Woolworths' gift card programs. The partnership will build on this foundation, with a focus on strengthening platform capabilities, enabling deeper technology integration, and supporting the evolution of gift card experiences across physical and digital channels.
Pine Labs' Qwikcilver platform supports the lifecycle of gift cards products, including issuance, processing, transaction management, and omnichannel program capabilities.
Its API-led and modular architecture is designed to help Woolworths integrate gift card capabilities with their wider commerce ecosystems and progressively add new use cases by leveraging the existing technology infrastructure.
As retailers increasingly connect gifting, customer engagement, and digital commerce experiences, stored-value platforms are evolving into a critical component of enterprise commerce infrastructure.
Under the engagement, Pine Labs will support Woolworths' ongoing modernization of gift card infrastructure through enhanced API integrations, increased scalability, and stronger digital program capabilities.
The relationship with Woolworths reflects Pine Labs' focus on helping large enterprises modernize gift card and stored-value infrastructure through scalable, API-led technology platforms. Through its subsidiary Qwikcilver, Pine Labs provides a technology layer on which enterprises can operate and evolve their stored value programs as commerce models and customer expectations change.
Through its Qwikcilver subsidiary, Pine Labs powers the technology platform supporting Woolworths' gift card programs.
Pine Labs’ Qwikcilver platform supports the lifecycle of gift cards products, including issuance, processing, transaction management, and omnichannel program capabilities.
B Amrish Rau, CEO, Pine Labs, said: 'The most valuable technology partnerships are built over time and become part of the infrastructure that businesses rely on every day.
Over the past five years, Pine Labs and Woolworths have established that kind of relationship. We are now expanding the technology foundation with enhanced platform capabilities that can support new gift card experiences and stored value use cases.'
Pine Labs is a technology company focused on digitising commerce through digital payments and issuing solutions for merchants, consumer brands, enterprises and financial institutions.
The company's consolidated revenue grew 20% YoY to Rs 737 crore, while profit after tax increased fourfold to Rs 20 crore from Rs 5 crore in Q1 FY26. Profit before tax stood at Rs 38 crore, compared with a loss of Rs 5 crore in the year-ago quarter.
The scrip fell 2.14% to currently trade at Rs 169.50 on the BSE.
To power this next-generation agentic commerce solution, Pine Labs will use Gemini Enterprise Agent Platform for catalog enrichment, search, and the rapid build and deployment of custom commerce agents. The Pine Labs platform will also offer native integration support for the Universal Commerce Protocol (UCP) and Agent-to-Agent (A2A) frameworks, which will enable seamless, cross-platform transaction
Pine Labs Ltd, Cochin Shipyard Ltd, Sun TV Network Ltd, Granules India Ltd are among the other stocks to see a surge in volumes on NSE today, 11 September 2026.
Authum Investment & Infrastructure Ltd recorded volume of 48.96 lakh shares by 14:14 IST on NSE, a 10.41 times surge over two-week average daily volume of 4.70 lakh shares. The stock gained 5.21% to Rs.539.00. Volumes stood at 68818 shares in the last session.
Pine Labs Ltd recorded volume of 2037.23 lakh shares by 14:14 IST on NSE, a 8.45 times surge over two-week average daily volume of 241.00 lakh shares. The stock gained 14.32% to Rs.197.97. Volumes stood at 159.11 lakh shares in the last session.
Cochin Shipyard Ltd notched up volume of 51.54 lakh shares by 14:14 IST on NSE, a 7.57 fold spurt over two-week average daily volume of 6.81 lakh shares. The stock slipped 8.64% to Rs.1,389.00. Volumes stood at 10.53 lakh shares in the last session.
Sun TV Network Ltd notched up volume of 28.08 lakh shares by 14:14 IST on NSE, a 6.78 fold spurt over two-week average daily volume of 4.14 lakh shares. The stock rose 5.52% to Rs.480.70. Volumes stood at 2.9 lakh shares in the last session.
Granules India Ltd saw volume of 71.46 lakh shares by 14:14 IST on NSE, a 5.33 fold spurt over two-week average daily volume of 13.41 lakh shares. The stock increased 1.42% to Rs.912.00. Volumes stood at 15.97 lakh shares in the last session.
The brokerage highlighted Pine Labs' leadership in merchant payments and its high-margin value-added businesses. It also expects strong earnings growth.
Pine Labs has more than 20 lakh point-of-sale (POS) terminals. The brokerage estimates the company has a 17% share of the overall POS terminal market and more than 60% share among enterprise merchants.
The brokerage also highlighted Pine Labs' affordability solutions, including POS financing, as an important value-added business.
Pine Labs processes around 85% of offline white-goods buy-now-pay-later (BNPL) transactions. The company works with more than 450 brands and over 40 financial institutions.
The company reported a profit before tax (PBT) of Rs 37.73 crore in Q1 FY27, compared with a loss before tax of Rs 4.84 crore in Q1 FY26.
On a segmental basis, revenue from the digital infrastructure business increased 14.90% YoY to Rs 499.12 crore in Q1 FY27 from Rs 434.37 crore in Q1 FY26. Revenue from the issuing and acquiring platform business rose 30.90% YoY to Rs 237.80 crore from Rs 181.54 crore in the corresponding quarter of the previous year.
Adjusted EBITDA improved 4.13% YoY to Rs 126 crore in Q1 FY27 from Rs 121 crore in Q1 FY26. However, adjusted EBITDA margin narrowed to 17.1% from 19.6% a year earlier.
Pine Labs said merchant digitisation continued to gather pace during the quarter, with platform gross transaction value (GTV) remaining above $45 billion, reflecting growing adoption by merchants and banking partners. The company's Digital Checkout Points (DCPs) grew 18% YoY to 2.17 million, while more than 70% of transactions were processed through UPI, highlighting the increasing shift towards digital, UPI-first payment solutions.
The company maintained its leadership in the enterprise merchant segment in India while expanding its presence in the mid-market, where the merchant base grew over 40% YoY with the addition of more than 1.3 lakh DCPs. Flow, Affordability and Transaction Processing GTV increased over 54% YoY to Rs 91,000 crore, driven by more than 80% growth in UPI GTV and over 40% growth in Dynamic Currency Conversion (DCC) GTV.
In the online business, Pine Labs added more than 40 merchants across quick commerce, e-commerce, direct-to-consumer (D2C), travel and enterprise segments during the quarter. Shopflo Checkout processed more than Rs 400 crore of D2C and SMB volumes, while the company expanded its government footprint with key wins, including the Delhi Metro Rail Corporation (DMRC), and strengthened its hospitality merchant business.
Internationally, revenue rose 21% YoY to Rs 114 crore, contributing around 16% of consolidated revenue. The company expanded its presence across 22 countries by scaling deployments with GCash in the Philippines, launching new affordability programmes in the UAE and Singapore, adding airline partnerships with British Airways and TAROM, launching the Suntec Mall Card programme in Singapore, and expanding engagements with Emirates NBD and Wio Bank across the UAE, Saudi Arabia and Egypt.
The scrip was down 4.48% at Rs 146.15 on the BSE.