DIGISPICE

DiGiSPICE Technologies Limited

Financial-technology and business-correspondent network with assisted ATM and UPI services

Information Technology›Information Technology›IT - Services›IT Enabled Services

digispice.com

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Key metrics

Price as of 2026-10-16

Stock price

₹15.82

Market cap

371 Cr

Stock P/E

20.0

P/B

1.58

ROE (FY26)

8.0%

ROCE (FY26)

9.7%

Operating margin (FY26)

2.7%

Debt / equity (FY26)

0.35

OCF / EBITDA (FY26)

313.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

DiGiSPICE (DiGiSPICE Technologies) runs the Spice Money business, a network of about 16.85 lakh agents across India, mostly in small towns, who help customers withdraw and deposit cash, pay bills and buy financial products such as accounts, loans and insurance.

Company snapshot

38thBy market cap

Ranked among 56 companies in IT Enabled Services.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 100.0% of revenue

Segment	Revenue share	Revenue	PBT	Assets
Discontinued Operations	—	0 Cr	-0.73 Cr	14 Cr
Financial Technology Services (Spice Money)	100.0%	113 Cr	6 Cr	505 Cr

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	113 Cr	110 Cr	106 Cr	110 Cr	109 Cr	113 Cr	117 Cr	124 Cr	125 Cr	109 Cr	107 Cr	108 Cr
Operating expenses (approx.)	109 Cr	108 Cr	100 Cr	109 Cr	112 Cr	115 Cr	116 Cr	117 Cr	118 Cr	103 Cr	106 Cr	99 Cr
EBITDA	4 Cr	3 Cr	6 Cr	0.55 Cr	-3 Cr	-2 Cr	0.69 Cr	6 Cr	7 Cr	6 Cr	1 Cr	9 Cr
OPM %	3.6%	2.4%	6.1%	0.5%	-2.7%	-1.4%	0.6%	5.2%	5.6%	5.5%	1.1%	7.9%
Other income	9 Cr	6 Cr	6 Cr	7 Cr	5 Cr	6 Cr	6 Cr	6 Cr	6 Cr	6 Cr	7 Cr	6 Cr
Interest	0.42 Cr	0.64 Cr	0.43 Cr	0.36 Cr	0.63 Cr	0.80 Cr	0.74 Cr	0.68 Cr	0.28 Cr	0.55 Cr	0.52 Cr	0.38 Cr
Depreciation	0.99 Cr	1 Cr	4 Cr	1 Cr	2 Cr	2 Cr	2 Cr	2 Cr	2 Cr	2 Cr	2 Cr	2 Cr
Profit before tax	2 Cr	2 Cr	43 Cr	3 Cr	-6 Cr	-18 Cr	-10 Cr	9 Cr	10 Cr	5 Cr	5 Cr	10 Cr
Tax %	184.7%	200.3%	11.8%	91.2%	-25.1%	-8.2%	-19.4%	26.4%	28.8%	46.9%	43.3%	33.4%
Net profit	-2 Cr	-2 Cr	38 Cr	0.24 Cr	-7 Cr	-20 Cr	-12 Cr	7 Cr	7 Cr	2 Cr	3 Cr	7 Cr
EPS (₹)	₹-0.07	₹-0.07	₹1.62	₹0.01	₹-0.32	₹-0.84	₹-0.53	₹0.29	₹0.30	₹0.11	₹0.11	₹0.28

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	259 Cr	281 Cr	377 Cr	407 Cr	712 Cr	991 Cr	1,015 Cr	439 Cr	448 Cr	465 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	243 Cr	275 Cr	361 Cr	400 Cr	699 Cr	976 Cr	1,030 Cr	426 Cr	452 Cr	444 Cr	Sign in free for the trailing twelve months
EBITDA	16 Cr	6 Cr	15 Cr	7 Cr	13 Cr	15 Cr	-15 Cr	14 Cr	-3 Cr	21 Cr	Sign in free for the trailing twelve months
OPM %	6.0%	2.0%	4.1%	1.7%	1.8%	1.5%	-1.4%	3.1%	-0.7%	4.4%	Sign in free for the trailing twelve months
Other income	30 Cr	13 Cr	18 Cr	12 Cr	25 Cr	21 Cr	27 Cr	27 Cr	25 Cr	25 Cr	Sign in free for the trailing twelve months
Interest	0.27 Cr	2 Cr	3 Cr	4 Cr	2 Cr	1 Cr	1 Cr	2 Cr	3 Cr	2 Cr	Sign in free for the trailing twelve months
Depreciation	20 Cr	17 Cr	18 Cr	21 Cr	23 Cr	20 Cr	25 Cr	7 Cr	6 Cr	8 Cr	Sign in free for the trailing twelve months
Profit before tax	16 Cr	-37 Cr	12 Cr	-54 Cr	12 Cr	13 Cr	-19 Cr	37 Cr	-31 Cr	29 Cr	Sign in free for the trailing twelve months
Tax %	62.2%	-21.1%	24.0%	-3.7%	53.5%	50.1%	-14.1%	68.5%	-23.6%	33.3%	Sign in free for the trailing twelve months
Net profit	-38 Cr	-45 Cr	9 Cr	-56 Cr	6 Cr	7 Cr	-22 Cr	12 Cr	-39 Cr	19 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹-1.57	₹-1.57	₹0.27	₹-2.17	₹0.50	₹0.24	₹-0.93	₹0.51	₹-1.68	₹0.81	Sign in free for the trailing twelve months
Dividend payout %	—	—	—	—	0.0%	0.0%	—	0.0%	—	0.0%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	54 Cr	61 Cr	61 Cr	61 Cr	61 Cr	61 Cr	62 Cr	62 Cr	62 Cr	63 Cr
Reserves	225 Cr	216 Cr	224 Cr	163 Cr	177 Cr	186 Cr	170 Cr	184 Cr	150 Cr	172 Cr
Borrowings	6 Cr	34 Cr	57 Cr	25 Cr	33 Cr	54 Cr	84 Cr	26 Cr	77 Cr	82 Cr
Other liabilities	270 Cr	118 Cr	172 Cr	160 Cr	257 Cr	393 Cr	391 Cr	377 Cr	419 Cr	488 Cr
Total liabilities	547 Cr	442 Cr	529 Cr	418 Cr	531 Cr	700 Cr	708 Cr	649 Cr	713 Cr	806 Cr
Fixed assets (net)	53 Cr	49 Cr	43 Cr	41 Cr	30 Cr	28 Cr	13 Cr	11 Cr	17 Cr	10 Cr
CWIP	5 Cr	0.42 Cr	1 Cr	0.86 Cr	2 Cr	4 Cr	0 Cr	0 Cr	0 Cr	16 Cr
Investments	10 Cr	18 Cr	39 Cr	22 Cr	15 Cr	14 Cr	13 Cr	50 Cr	11 Cr	10 Cr
Loans & advances	—	—	2 Cr	0.21 Cr	0.90 Cr	0.05 Cr	0.02 Cr	1 Cr	4 Cr	2 Cr
Inventories	2 Cr	0.06 Cr	0.31 Cr	0.62 Cr	5 Cr	3 Cr	5 Cr	2 Cr	1 Cr	0.50 Cr
Trade receivables	54 Cr	37 Cr	74 Cr	46 Cr	40 Cr	71 Cr	34 Cr	22 Cr	27 Cr	29 Cr
Cash & bank	51 Cr	52 Cr	35 Cr	49 Cr	92 Cr	146 Cr	140 Cr	122 Cr	197 Cr	215 Cr
Other assets	372 Cr	286 Cr	334 Cr	258 Cr	345 Cr	435 Cr	502 Cr	442 Cr	455 Cr	523 Cr
Total assets	547 Cr	442 Cr	529 Cr	418 Cr	531 Cr	700 Cr	708 Cr	649 Cr	713 Cr	806 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	-68 Cr	-8 Cr	-33 Cr	57 Cr	119 Cr	149 Cr	6 Cr	42 Cr	12 Cr	64 Cr
Cash from investing	14 Cr	75 Cr	-1 Cr	-7 Cr	-83 Cr	-119 Cr	-37 Cr	5 Cr	14 Cr	-50 Cr
Cash from financing	19 Cr	-47 Cr	0.63 Cr	-27 Cr	0.33 Cr	-8 Cr	-4 Cr	-56 Cr	48 Cr	4 Cr
Net cash flow	-36 Cr	20 Cr	-34 Cr	23 Cr	36 Cr	22 Cr	-36 Cr	-8 Cr	74 Cr	18 Cr
Free cash flow (OCF − Capex)	-92 Cr	-30 Cr	-48 Cr	41 Cr	113 Cr	134 Cr	-6 Cr	33 Cr	3 Cr	48 Cr

Ratios

Metric	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	6.0%	-10.8%	4.1%	-19.2%	5.0%	4.8%	-5.6%	14.5%	-9.9%	9.7%
ROE %	-13.2%	-12.3%	2.0%	-21.2%	4.8%	2.1%	-8.8%	4.7%	-18.1%	8.0%
Debtor days	76	48	71	42	21	26	12	18	22	23
Inventory days	3	0	1	2	4	2	3	159	1	12
Days payable	54	67	340	182	56	51	37	1072	14	350
Cash conversion cycle	25	-19	-268	-139	-31	-23	-21	-895	9	-315
OCF / EBITDA %	-434.9%	n.m.	-216.9%	n.m.	n.m.	n.m.	—	308.5%	—	313.7%
OCF / EBITDA % (3 years)	—	—	-299.2%	n.m.	n.m.	n.m.	n.m.	n.m.	—	n.m.
Debt / equity	0.02	0.12	0.20	0.11	0.14	0.22	0.36	0.10	0.36	0.35
Current ratio	2.09	1.65	1.41	1.09	1.16	1.10	1.07	1.20	1.25	1.18
Net debt / EBITDA	-2.88	—	1.45	-3.50	-4.62	-6.28	—	-7.10	—	-6.48