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Prithvi Exchange (India) Ltd (531688)

📊 BSE: 531688 🏢 Other Financial Services 📢 Latest filing: 01 Oct 2026

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Prithvi Exchange's revenue was ₹1,108 Cr (+29.4% year on year, +17.8% on the previous quarter), and net profit ₹0.7 Cr (-34.4% year on year); the operating margin was 0.1%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹1,108	+29.4%	+17.8%
Operating profit	₹0.9	-34.8%	—
Net profit	₹0.7	-34.4%	from loss
EPS (₹)	0.89	-34.6%	from loss
Operating margin	0.1%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Prithvi Exchange Secures 2-Year Forex Contract from ITDC for Duty-Free Shops

🟢 POSITIVE ⭐ 6/10

OTHER 📅 01 Oct 2026, 05:13 PM

Prithvi Exchange (India) Limited has received a Letter of Acceptance and Award of Work from India Tourism Development Corporation Limited (ITDC), a Miniratna-I CPSE. The contract covers the collection, pickup, and purchase of Foreign Currency Notes across specified ITDC Units and Duty Free Shops at various Indian ports. The agreement spans a two-year tenure from October 1, 2026, to September 30, 2028, with an option to extend by one year. The specific monetary value of the work order was not disclosed in the filing.

Awarded contract as L1 bidder by ITDC dated September 30, 2026
Contract tenure of 2 years effective October 1, 2026 to September 30, 2028
Provision for a 1-year extension subject to satisfactory performance and mutual consent
Services cover collection and purchase of Foreign Currency Notes at ITDC Duty Free Shops across Indian ports
Company currently operates 38 branches across 25 key cities in India

💡 Monitor upcoming quarterly results to assess whether this contract delivers an uptick in transaction volumes or helps improve razor-thin operating margins (0.1% TTM OPM).

Prithvi Exchange Launches Mobile App and B2B2C Partner Hub Portal at 31st AGM

🟡 NEUTRAL ⭐ 4/10

EXPANSION 📅 27 Aug 2026, 07:47 PM

Prithvi Exchange (India) Ltd announced the launch of two new digital platforms at its 31st Annual General Meeting held on August 27, 2026: the Prithvi FX Mobile Application for retail forex card users and the Partner Hub Portal for B2B2C partners. The mobile app enables real-time multi-currency tracking, biometric authentication, and card controls, while the Partner Hub digitizes onboarding and bookings for travel agents, solopreneurs, and affiliates. The company operates 38 branches across 25 cities in India as an RBI-licensed Authorized Dealer Category II entity.

Launched Prithvi FX Mobile App for Forex Card management and cross-border expense tracking on iOS and Android
Introduced Partner Hub, a digital B2B2C forex distribution platform with instant onboarding and commission tracking
Company currently operates across 25 key cities with 38 branches nationwide
Digital rollout announced at the company's 31st Annual General Meeting held on August 27, 2026

💡 Track digital adoption metrics and whether improved distribution tech improves ultra-thin operating margins (OPM at 0.1% on TTM revenue of ₹3,983 Cr) in upcoming quarterly results.

RBI grants Perpetual AD-II License to Prithvi Exchange for enhanced remittance services

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 13 Aug 2026, 06:13 PM

Prithvi Exchange (India) Ltd has been granted a Perpetual License under the Authorised Dealer Category-II (AD-II) by the Reserve Bank of India (RBI) effective August 13, 2026. This license is a significant regulatory milestone as it allows the company to process trade remittances and outward remittances for family maintenance, which were previously restricted. The 'perpetual' status is particularly beneficial as it removes the administrative burden and uncertainty of periodic license renewals. For a company with a high-volume, low-margin profile (0.1% TTM operating margin), this expansion into higher-value remittance services is a strategic necessity.

Granted a Perpetual License under Authorised Dealer Category-II (AD-II) by the RBI on August 13, 2026
Authorized to process trade remittances for eligible transactions, expanding the B2B service scope
Permitted to facilitate outward remittances for family maintenance and other permissible categories
Perpetual nature of the license eliminates future renewal risks and strengthens regulatory standing
Company operates on thin margins with TTM PAT of only Rs 2 Cr against Rs 3,983 Cr revenue

💡 Investors should monitor the company's quarterly operating margins to see if the shift toward AD-II services (like trade remittances) improves the current 0.1% OPM. The key metric to watch is the growth in 'other income' or fee-based income relative to total forex turnover.

Prithvi Exchange Q1 Revenue up 25% to Rs 1,108 Cr; PAT Declines 37.5% to Rs 0.71 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 08 Aug 2026, 01:52 PM

Prithvi Exchange (India) Ltd reported a 25.11% YoY increase in total revenue to Rs 1,108.22 Cr for Q1 FY27, significantly outperforming the broader aviation industry's 18% decline in passenger movement. However, Net Profit fell by 37.5% YoY to Rs 0.71 Cr, highlighting the company's extremely thin operating margins (TTM OPM at 0.1%). The company is pivoting toward a fintech model, launching its 'TravFX' D2C platform and proprietary multi-currency cards to improve customer ownership and margins. Despite revenue growth, management flagged geopolitical tensions and rising oil prices as risks to outbound travel sentiment.

Total Revenue grew 25.11% YoY to Rs 1,108.22 Cr in Q1 FY27, representing ~29.7% of TTM revenue.
Net Profit for the period decreased by 37.5% YoY to Rs 0.71 Cr from Rs 1.13 Cr in Q1 FY26.
Wholesale Bank Notes segment achieved 35% YoY growth, while the Tours segment grew by 63%.
Expanded physical footprint to 38 branches across 25 cities, adding 2 new branches in the quarter.
Completed beta launch of proprietary Prithvi-branded multi-currency Forex Cards and launched TravFX digital platform.

💡 Investors should monitor if the shift toward digital platforms (TravFX) and proprietary forex cards can successfully expand the company's razor-thin 0.1% operating margins. Watch for the impact of geopolitical tensions on outbound travel volumes in upcoming quarterly results.

Prithvi Exchange Q1 Revenue Grows 29% YoY to ₹1,105 Cr; Returns to Profitability

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 08 Aug 2026, 01:49 PM

Prithvi Exchange (India) Ltd reported a strong 28.9% YoY revenue growth to ₹1,104.72 Cr for Q1 FY27, significantly outperforming the broader industry trend of declining international travel traffic. The company successfully returned to profitability with a net profit of ₹0.71 Cr, compared to a net loss of ₹0.37 Cr in the preceding quarter (Q4 FY26). This turnaround is notable as it occurred despite an 18% YoY decline in international passenger traffic and a 7-8% drop in travel-related remittances reported by the RBI. However, the business continues to operate on extremely thin margins, with the quarterly net profit representing less than 0.1% of revenue.

Total Revenue for Q1 FY27 reached ₹1,104.72 Cr, up 28.9% from ₹856.61 Cr in Q1 FY26.
Net Profit stood at ₹0.71 Cr, a recovery from the ₹0.37 Cr loss reported in the previous quarter.
Revenue grew 17.4% sequentially (QoQ) from ₹941.27 Cr in Q4 FY26.
Company outperformed the industry where travel remittances fell 8.7% YoY in April 2026 and 7.2% in May 2026.
The company maintains a network of 38 branches across 25 key cities in India.

💡 Investors should monitor the company's ability to maintain this revenue momentum and whether it can translate high volumes into better operating margins, which currently stand at a razor-thin 0.1% TTM.

Rs 1,108 Cr Revenue: Prithvi Exchange Q1 FY27 Results Show 29% Top-line Growth, Profit Dips YoY

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 08 Aug 2026, 01:38 PM

Prithvi Exchange (India) Ltd reported a 29.4% YoY increase in consolidated revenue to Rs 1,108.30 Cr for Q1 FY27. Despite the strong top-line growth, consolidated net profit declined by 34.8% YoY to Rs 0.73 Cr, down from Rs 1.12 Cr in Q1 FY26. The company successfully returned to profitability on a sequential basis, recovering from a net loss of Rs 0.39 Cr in the preceding March 2026 quarter. Operating margins remain extremely thin at approximately 0.09% at the PBT level, highlighting the high-volume, low-margin nature of the forex business.

Consolidated revenue from operations grew 29.4% YoY to Rs 1,108.30 Cr.
Consolidated net profit for the quarter stood at Rs 0.73 Cr, a 34.8% decline from Rs 1.12 Cr in the same period last year.
Purchase of foreign currencies accounted for 99.6% of total expenses, amounting to Rs 1,103.69 Cr.
Employee benefit expenses increased by 26.8% YoY to Rs 4.59 Cr.
Basic EPS for the quarter was Rs 0.89, compared to Rs 1.36 in Q1 FY26.

💡 Investors should monitor the company's ability to manage rising employee and administrative costs, as the razor-thin margins (0.1%) leave little room for error. Watch for volume trends in foreign currency sales as the primary driver of the top line.

Q1 FY27 Results: Revenue Grows 29% YoY to ₹1,108 Cr; PAT Recovers to ₹0.73 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 08 Aug 2026, 01:33 PM

Prithvi Exchange (India) Ltd reported a consolidated revenue of ₹1,108.30 Cr for Q1 FY27, marking a 29.4% increase compared to ₹856.29 Cr in Q1 FY26. Net profit stood at ₹0.73 Cr, a recovery from the ₹0.39 Cr loss reported in the preceding March 2026 quarter, though it remains 34.8% lower than the ₹1.12 Cr profit in the year-ago period. The company continues to operate on extremely thin margins, with operating expenses dominated by the purchase of foreign currencies (₹1,103.69 Cr). EPS for the quarter improved to ₹0.89 from a negative ₹0.47 in the previous quarter.

Consolidated revenue from operations increased to ₹1,108.30 Cr from ₹856.29 Cr YoY.
Net profit for the quarter was ₹0.73 Cr, recovering from a loss of ₹0.39 Cr in Q4 FY26.
Purchase of foreign currencies accounted for 99.6% of total expenses at ₹1,103.69 Cr.
Basic and Diluted EPS stood at ₹0.89 for the quarter ended June 30, 2026.
Employee benefit expenses rose 26.8% YoY to ₹4.59 Cr from ₹3.62 Cr.

💡 Investors should monitor the company's ability to maintain volume growth in its forex business while managing rising employee and administrative costs, which are pressuring already thin margins.

August 08 Board Meeting to Approve Q1 FY2027 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 01 Aug 2026, 10:00 AM

Prithvi Exchange (India) Ltd has scheduled a board meeting for August 08, 2026, to approve its unaudited financial results for the quarter ended June 30, 2026. The company operates in a high-volume, low-margin forex business, with TTM revenue of Rs 3,731 crore but a TTM PAT of only Rs 3 crore. Investors will be closely monitoring if the company can return to profitability after reporting a net loss of Rs 0.39 crore in the March 2026 quarter. The trading window for insiders has been closed since July 01, 2026, in anticipation of these results.

Board meeting scheduled for August 08, 2026, to consider and approve Q1 results.
Financial results pertain to the first quarter ended June 30, 2026.
Trading window for designated persons has been closed since July 01, 2026.
Company reported a net loss of Rs 0.39 crore in the preceding quarter (March 2026).
TTM operating profit margin remains extremely thin at 0.1%.

💡 Monitor the financial results on August 08 to assess if the company has recovered from the previous quarter's loss and if there is any improvement in the 0.1% operating margin.

Prithvi Exchange Proposes 5% Final Dividend; Sets Rs 7.5 Cr Profit Target for Management Bonus

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 30 Jul 2026, 03:40 PM

Prithvi Exchange (India) Ltd has issued a notice for its 31st Annual General Meeting (AGM) to be held on August 27, 2026. The company has proposed a final dividend of Rs 0.50 per share (5% of face value) for FY 2025-26. A significant agenda item includes a revision in management remuneration, introducing a 12.5% performance-linked variable pay for the Managing Director and Whole-Time Director. This variable pay is contingent on the company achieving a Net Profit of at least Rs 7.5 Cr, which is a substantial target compared to the current TTM PAT of Rs 3 Cr.

Final dividend of 5% (Rs 0.50 per equity share) proposed for the financial year ended March 31, 2026.
31st AGM scheduled for Thursday, August 27, 2026, at 11:30 A.M. IST via video conferencing.
Performance-linked variable pay of 12.5% of fixed remuneration proposed for MD and WTD, triggered at a Net Profit threshold of Rs 7.5 Cr.
Fixed remuneration for Managing Director Pavan Kumar Kavad to remain at Rs 96,00,000 per annum.
Fixed remuneration for Whole-Time Director & CFO Kalpesh Kumar Kavad to remain at Rs 48,00,000 per annum.

💡 Investors should track the company's quarterly bottom-line performance to see if it trends toward the Rs 7.5 Cr annual profit target set for management incentives.

5% Final Dividend Proposed by Prithvi Exchange; Sets Rs 7.5 Cr Profit Target for Management Bonus

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 30 Jul 2026, 03:36 PM

Prithvi Exchange (India) Ltd has released its FY2025-26 Annual Report, proposing a final dividend of Rs 0.50 per share (5%). The company reported a significant 68.6% decline in consolidated Profit Before Tax to Rs 3.41 Cr in FY26, down from Rs 10.86 Cr in FY25. A key proposal for the upcoming AGM on August 27, 2026, includes a 12.5% performance-linked variable pay for the MD and CFO, contingent on the company achieving a Net Profit of at least Rs 7.5 Cr. This target is ambitious given the TTM Net Profit currently stands at only Rs 3 Cr.

Proposed final dividend of 5% or Rs 0.50 per equity share for FY 2025-26.
Consolidated Profit Before Tax fell to Rs 3.41 Cr in FY26 from Rs 10.86 Cr in FY25.
New variable pay incentive for MD and CFO requires a minimum Net Profit of Rs 7.5 Cr to trigger.
MD Pavan Kumar Kavad's fixed remuneration remains at Rs 96 Lakhs per annum, which is approximately 32% of FY26 Net Profit.
Promoter holding remains concentrated and stable at 72.02%.

💡 Investors should monitor the AGM voting results on August 27, 2026, and track whether the company can recover its margins to meet the Rs 7.5 Cr profit threshold required for management bonuses.

August 19 Set as Record Date for Final Dividend FY 2025-26

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 23 Jul 2026, 02:06 PM

Prithvi Exchange (India) Ltd has announced August 19, 2026, as the record date for determining eligibility for its final dividend for the financial year 2025-26. The 31st Annual General Meeting (AGM) is scheduled for August 27, 2026, where the dividend will be formally declared. If approved, the dividend payment will be completed on or before September 25, 2026. This follows a fiscal year (FY25) where the company reported a net profit of ‑8.0 Cr, although the most recent quarter ending March 2026 resulted in a loss of ‑0.39 Cr.

Record date for final dividend eligibility fixed as August 19, 2026
31st Annual General Meeting scheduled for August 27, 2026, at 11:30 A.M.
Dividend payment to be completed by September 25, 2026, subject to shareholder approval
Cut-off date for e-voting eligibility also set for August 19, 2026

💡 Investors should check the upcoming Annual Report for the specific dividend amount per share and monitor the stock's ex-dividend date, typically one business day prior to the August 19 record date.

Prithvi Exchange Sets August 19 as Record Date for FY26 Dividend; AGM on August 27

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 23 Jul 2026, 02:03 PM

Prithvi Exchange (India) Ltd has scheduled its 31st Annual General Meeting (AGM) for August 27, 2026. The company has fixed August 19, 2026, as the record date for determining shareholder eligibility for the FY2025-26 dividend. If approved at the AGM, the dividend will be paid on or before September 25, 2026. This announcement follows a year where the company generated high TTM revenue of Rs 3,731 Cr but maintained very thin margins with a TTM PAT of only Rs 3 Cr.

31st Annual General Meeting scheduled for August 27, 2026, at 11:30 AM IST
Record date for dividend eligibility fixed as August 19, 2026
Cut-off date for e-voting on AGM resolutions set for August 19, 2026
Dividend payment to be completed on or before September 25, 2026, subject to approval
Company reported a TTM PAT of Rs 3 Cr against a massive revenue base of Rs 3,731 Cr

💡 Investors should review the upcoming 31st Annual Report to understand the specific dividend amount and management's strategy to improve the current 0.1% operating profit margin.

Prithvi Exchange Sets Aug 19 as Record Date for Dividend; 31st AGM on Aug 27, 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 23 Jul 2026, 01:40 PM

Prithvi Exchange (India) Ltd has scheduled its 31st Annual General Meeting (AGM) for August 27, 2026. The company has fixed August 19, 2026, as the record date for determining shareholder eligibility for the FY2025-26 dividend. If approved at the AGM, the dividend will be paid on or before September 25, 2026. This announcement follows a period where the company reported a TTM revenue of Rs 3,731 Cr but maintained very thin operating margins of 0.1%.

31st Annual General Meeting scheduled for August 27, 2026, at 11:30 AM via video conferencing.
Record date for FY2025-26 dividend eligibility fixed as August 19, 2026.
Dividend payment to be completed on or before September 25, 2026, subject to shareholder approval.
Cut-off date for e-voting on AGM resolutions is also set for August 19, 2026.

💡 Investors should review the upcoming Annual Report for the specific dividend amount and management's strategy to address the recent quarterly loss of Rs 0.39 Cr in March 2026.

Prithvi Exchange Launches ICONIC Forex Card Supporting 23 Currencies

🟢 POSITIVE ⭐ 5/10

EXPANSION 📅 22 Jul 2026, 12:54 PM

Prithvi Exchange (India) Ltd has launched its proprietary 'ICONIC Forex Card,' a premium multi-currency prepaid travel card. The card supports 23 major foreign currencies and is integrated with a mobile application for real-time transaction tracking and 24/7 WhatsApp support. This move targets leisure, business, and student travelers across the company's existing footprint in 26 Indian cities. Given the company's extremely thin operating margins of 0.1% on a TTM revenue of ‡3,731 Cr, high-margin digital products like forex cards are essential for improving bottom-line performance.

Supports 23 major foreign currencies, reducing dependence on physical cash for travelers.
Integrated with a mobile application and 24/7 WhatsApp support for digital card management.
Leverages the company's 31-year industry presence and physical network across 26 cities.
Aims to improve profitability for a business currently operating at a 0.1% OPM.
Includes value-adds such as complimentary insurance and international travel SIM benefits.

💡 Watch for improvements in operating margins and 'Other Income' in the next 2-3 quarters to gauge the adoption and profitability of this card compared to traditional currency exchange.

2 New Branches Opened in Mumbai; Total Network Reaches 38 Locations

🟢 POSITIVE ⭐ 5/10

EXPANSION 📅 15 Jul 2026, 09:01 PM

Prithvi Exchange (India) Ltd has expanded its retail footprint by inaugurating two new branches in Thane and Ghatkopar, Mumbai. This addition brings the company's total national branch network to 38 locations. The new branches will provide comprehensive foreign exchange solutions, including currencies, forex cards, and remittances. This move is part of a strategic effort to enhance customer accessibility in key urban markets.

Inaugurated 2 new branches in the Mumbai metropolitan region (Thane and Ghatkopar)
Total branch count increased to 38 across India
Expansion represents a ~5.5% increase in the total physical branch network
Branches will offer technology-enabled foreign exchange and remittance services

💡 Investors should monitor the next few quarterly earnings reports to see if the expanded branch network (now 38 locations) leads to a measurable increase in retail forex volumes and fee income.

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