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DiGiSPICE Technologies Limited (DIGISPICE)

₹15.82 -0.06% last close, 16 Oct

📊 NSE: DIGISPICE 🏢 Computers - Software - Medium / Small 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, DiGiSPICE Technologies' revenue was ₹108 Cr (-12.9% year on year, +0.5% on the previous quarter), and net profit ₹6.6 Cr (-4.9% year on year); the operating margin was 7.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹108	-12.9%	+0.5%
Operating profit	₹8.6	+35.6%	+625.8%
Net profit	₹6.6	-4.9%	+139.0%
Operating margin	7.9%	—	—

Full quarterly financials → Results calendar →

DIGISPICE delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 68.92% of the DIGISPICE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 69.36%. That is close to its usual level. Turnover was only ₹5 lakh, so a handful of trades can move this figure. Volume was 0.3 times its average, well below normal. It closed at a price band (circuit) on 2 sessions in about the last 20.

68.92%Delivery, 16 Oct

69.36%Own 20-session average

0.3×Volume vs its average

₹15.82NSE close · -0.06%

Delivery in the last 5 sessions: 77.5% · 62.7% · 54.7% · 53.0% · 68.9%

Delivery across the market →Circuit stocks →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

DiGiSPICE Submits Regulation 74(5) Dematerialization Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 04:33 PM

DiGiSPICE Technologies Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate from RTA MAS Services Limited confirms that all securities received for dematerialization were processed, confirmed, or rejected within the mandated 15-day timeframe. Physical certificates received were verified, mutilated, and cancelled, with depository names updated in the register of members. This represents a regular procedural filing with no operational or financial impact on the company.

Compliance certificate submitted for the quarter ended 30/09/2026
Securities processed and confirmed to depositories within the required 15 days
Share transfer and demat agent confirmed as MAS Services Limited

💡 No action is required as this is a routine regulatory filing. Investors should focus on upcoming quarterly earnings announcements for operational updates.

DiGiSPICE Shareholders Approve All 4 AGM Resolutions with 99.99% Majority

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Sep 2026, 01:48 PM

DiGiSPICE Technologies Limited concluded its 38th Annual General Meeting on September 22, 2026, passing all four agenda resolutions with near-unanimous approval. Key ordinary resolutions included adopting the FY26 financial statements, re-appointing Mr. Dilip Kumar Modi, and appointing Mr. Pankaj Arora as Whole-time Director. Additionally, a special resolution approving a one-time ex-gratia payment to Mr. Rohit Ahuja was passed with 99.9993% assent. Overall voter turnout stood at 72.66% of outstanding shares, heavily driven by promoter participation.

All 4 resolutions passed with over 99.99% voting approval
Overall voter turnout recorded at 72.6569% across 17,05,04,821 polled shares
Special resolution passed approving one-time ex-gratia payment to Rohit Ahuja (99.9993% assent)
Appointment of Pankaj Arora as Whole-time Director approved with 99.9999% votes in favor

💡 Track the upcoming quarterly financial results and progress on the internal merger of Spice Money Limited into DiGiSPICE via NCLT.

DiGiSPICE Grants 400,000 Stock Options at Rs 16.87 Under ESOP 2018

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 15 Sep 2026, 04:41 PM

DiGiSPICE Technologies Limited's Nomination and Remuneration Committee approved the grant of 400,000 stock options to eligible employees under the DTL Employees Stock Option Plan 2018 on September 15, 2026. The options carry an exercise price of Rs 16.87 per share and entitle holders to an equal number of equity shares of Rs 3 face value. Vesting is scheduled across three years at 40% at the end of Year 1, 30% at Year 2, and 30% at Year 3. With a current market cap of Rs 584 Cr and share count exceeding 350 million shares, dilution from this grant is under 0.2%.

Approved grant of 400,000 stock options under DTL ESOP Plan 2018
Exercise price set at Rs 16.87 based on the market price one day prior
Each option converts into 1 equity share of face value Rs 3
Vesting schedule structured at 40% in Year 1, 30% in Year 2, and 30% in Year 3

💡 Track subsequent quarterly filings to see share-based payment expense impact and monitor overall share capital dilution upon future exercises.

DiGiSPICE Schedules Analyst and Investor Meetings for September 11, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Sep 2026, 03:21 PM

DiGiSPICE Technologies Limited has announced a schedule for analyst and institutional investor meetings on Friday, September 11, 2026, between 10:00 AM and 4:00 PM IST in Mumbai. The interactions will involve one-on-one and group discussions in both physical and virtual modes. The company clarified that all discussions will rely strictly on publicly available information without sharing any Unpublished Price Sensitive Information (UPSI). With a market cap of approximately ₹604 crore and TTM revenue of ₹449 crore, this represents a routine investor relations update.

Investor/Analyst meetings scheduled for Friday, 11th September 2026
Meeting duration planned from 10:00 AM to 4:00 PM
Format includes both Physical and Virtual sessions (one-on-one and/or group meetings) in Mumbai
Management confirmed no Unpublished Price Sensitive Information (UPSI) will be disclosed

💡 Track subsequent exchange disclosures for any presentation decks or transcripts submitted following the September 11, 2026 investor meetings.

DiGiSPICE Dispatches 38th AGM Notice & KYC Updation Letter; AGM Set for Sept 22, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 27 Aug 2026, 05:01 PM

DiGiSPICE Technologies Limited has sent an intimation to shareholders whose email addresses are not registered, providing web-links to the 38th Annual General Meeting (AGM) Notice and the FY26 Annual Report. The 38th AGM is scheduled to be held on September 22, 2026, via Video Conferencing. Remote e-voting begins on September 18, 2026, at 9:00 AM and ends on September 21, 2026, at 5:00 PM, with the cut-off date fixed as September 15, 2026. The letter also instructs shareholders holding physical shares to update their KYC, PAN, and bank details per SEBI mandates.

38th Annual General Meeting scheduled for Tuesday, September 22, 2026, at 11:00 AM IST via Video Conferencing
Remote e-voting window opens on Friday, September 18, 2026 (9:00 AM) and closes on Monday, September 21, 2026 (5:00 PM)
Cut-off date for determining voting eligibility is September 15, 2026
Mandatory KYC, PAN, and bank detail updation required via Form ISR-1 with RTA MAS Services Limited to receive electronic dividend payments

💡 Eligible shareholders as of September 15, 2026, can participate in remote e-voting between September 18 and 21, 2026; physical shareholders should update their KYC details with MAS Services Limited.

DiGiSPICE Convenes 38th AGM on Sept 22, 2026; Proposes Executive Pay and Ex-Gratia

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Aug 2026, 02:59 PM

DiGiSPICE Technologies has issued the notice for its 38th Annual General Meeting scheduled for September 22, 2026, alongside its FY25-26 Annual Report. The agenda includes the adoption of FY26 financial statements and the reappointment of Non-Executive Director Dilip Kumar Modi. Shareholders will also vote on appointing Pankaj Arora as Whole-time Director at an annual CTC of ₹39.60 Lakhs, and a one-time ex-gratia payment of ₹63.25 Lakhs to erstwhile Executive Director Rohit Ahuja. Standalone financial notes also reflect total contingent liabilities of ₹24.07 Cr as of March 31, 2026.

38th Annual General Meeting scheduled for September 22, 2026, via Video Conferencing
Appointment of Pankaj Arora as Whole-time Director for 1 year from August 1, 2026, at ₹39.60 Lakhs annual CTC
Special resolution proposed for a one-time ex-gratia payment of ₹63.25 Lakhs to former Executive Director Rohit Ahuja
Standalone contingent liabilities reported at ₹2,407.31 Lakhs (₹24.07 Cr) as of March 31, 2026, primarily involving arbitration (₹14.81 Cr) and tax demands

💡 Track shareholder voting results following the AGM on September 22, 2026, and monitor subsequent quarterly earnings for progress on internal merger of Spice Money.

DiGiSPICE Q1 FY27: 1.68M Agents and 170M Annual Customers Drive Rural Fintech Strategy

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 12 Aug 2026, 05:21 PM

DiGiSPICE (Spice Money) detailed its Q1 FY27 strategy, focusing on its 1.68 million 'Adhikari' agent network across 2.5 lakh towns. The company serves 170 million annual customers in rural India, facilitating Aadhaar-enabled payments and cash collections for 80+ NBFCs. Management is shifting focus toward high-margin 'New Engines' like small-ticket credit (sub-Rs 1 lakh) and insurance to improve its current 4.4% OPM. The internal merger of Spice Money into the listed entity is ongoing to streamline corporate structure and capital efficiency.

Agent network expanded to 1.68 million Adhikaris covering 2.5 lakh towns in rural India
Annual customer reach stands at 170 million, with 27 million monthly active users
Transaction success rates improved to ~74% in H1 FY26 from 63.8% in FY24
Partnerships established with over 80 NBFCs and MFIs for rural cash collection services
Focusing on small-ticket lending (sub-Rs 50,000 to Rs 1 lakh) to drive margin expansion over 3-5 years

💡 Monitor the execution of the 'Credit' and 'Spice Pay' engines as they transition from pilot to scale, and track the NCLT timeline for the Spice Money merger.

DiGiSPICE Releases Recording of 67-Minute Investor Conference Call Held on August 7, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 07 Aug 2026, 07:04 PM

DiGiSPICE Technologies has published the audio-video recording of its investor conference call conducted on August 7, 2026. The call, which lasted 67 minutes, follows the company's recent financial disclosures and the submission of an investor presentation on August 6, 2026. This is a routine regulatory filing under SEBI LODR Regulations to ensure transparency for retail investors. The discussion likely covered the company's 'New Engines' strategy and its 18.5% market share in the rural fintech segment.

Conference call conducted for a duration of 67 minutes on August 7, 2026
Investor presentation for the call was submitted on August 6, 2026
Company maintains a reach of over 1 million Adhikari (agent) touchpoints in 'Deep Bharat'
Transaction success rates improved to approximately 74% in H1 FY26 from 63.8% in FY24
Company holds an estimated 18.5% market share in its specific fintech segment

💡 Investors should review the recording for management's specific commentary on the scaling of 'Spice Pay' and 'Credit' services, which are key to future margin expansion.

DiGiSPICE Corrects UDIN in Q1 FY27 Auditor's Limited Review Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Aug 2026, 07:06 PM

DiGiSPICE Technologies has issued a correction regarding the Unique Document Identification Number (UDIN) in its auditor's limited review reports for the quarter ended June 30, 2026. The statutory auditor, S. R. Batliboi & Co. LLP, confirmed that the previous UDINs were inadvertently mentioned and have now been updated for both standalone and consolidated results. The company confirmed that no other changes were made to the financial results or the review reports. The consolidated report covers 14 subsidiaries with combined assets of Rs 26.61 crore as of June 30, 2026.

Correction of Standalone UDIN to 26094533QRTWZM4532
Correction of Consolidated UDIN to 26094533SFFDAZ6322
Consolidated report includes 14 subsidiaries with total assets of Rs 2,661.48 lakhs
Total net loss after tax for these 14 subsidiaries was Rs 41.88 lakhs for the quarter
Auditor confirms no other changes to the Limited Review Report dated August 05, 2026

💡 This is a procedural administrative update. Investors should focus on the underlying financial performance of the Q1 FY27 results rather than this clerical correction.

₹9 Cr PAT in Q1 FY27; DiGiSPICE Reports 103% Q-o-Q Growth in Continued Operations

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 06 Aug 2026, 04:56 PM

DiGiSPICE reported a stable revenue of ₹107.8 Cr for Q1 FY27, while PAT from continued operations doubled to ₹9 Cr compared to the previous quarter. Despite a 10% Q-o-Q decline in total Customer Gross Transaction Value (GTV) to ₹28,295 Cr, the company achieved significant operational leverage with EBITDA for the platform business surging 4.6x to ₹9.5 Cr. The company is actively transitioning from low-margin Cash Management Services (CMS) to higher-margin BBPS-led collections. The merger of its subsidiary Spice Money into the parent company is progressing, with the NCLT first motion already accepted.

PAT from continued operations reached ₹9 Cr, a 103% increase from ₹4.5 Cr in Q4 FY26
Credit disbursements grew 64% year-on-year to ₹198.5 Cr in Q1 FY27
Platform EBITDA surged 4.6x Q-o-Q to ₹9.5 Cr, reflecting improved operational efficiency
Total agent network reached 16.8 Lakhs, covering 2.58 Lakh small towns across India
Float balance increased by 45% in one year to reach ₹320+ Cr

💡 Monitor the execution of the Spice Money merger via NCLT and the scaling of 'New Engines' (Credit and Spice Pay) which have recently reached operational breakeven.

DiGiSPICE to Host Q1 FY27 Earnings Call on August 7, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 06 Aug 2026, 11:29 AM

DiGiSPICE Technologies has scheduled its Q1 FY27 earnings conference call for August 7, 2026, at 3:00 PM. The call will discuss the company's performance for the quarter ended June 30, 2026. This follows a recovery in FY26 where the company turned profitable with a PAT of ‑19 crore compared to a loss of ‑39 crore in FY25. Investors will likely look for updates on the Spice Money merger and the scaling of the 'Credit' and 'Spice Pay' segments.

Earnings conference call scheduled for August 7, 2026, at 03:00 PM IST
Discussion to focus on Q1 FY27 results for the period ended June 30, 2026
Company maintains a market share of approximately 18.5% in its segment
Transaction success rates improved to ~74% in H1 FY26 from 63.8% in FY24
TTM revenue stands at ‑465 crore with an operating margin of 4.4%

💡 Monitor the earnings call for management commentary on the NCLT status of the Spice Money merger and the growth trajectory of the lending business.

DiGiSPICE Q1 FY27 Standalone Loss of ₹2.79 Cr; NCLT Merger Petition Filed

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 05 Aug 2026, 04:32 PM

DiGiSPICE Technologies reported a standalone net loss of ₹2.79 Cr for Q1 FY27, widening from a ₹0.97 Cr loss in the previous year's quarter. The standalone entity recorded zero operational revenue following its exit from the Digital Technology Services business to focus on its fintech subsidiary, Spice Money. A significant exceptional item of ₹2.07 Cr was recognized due to the impairment of an investment property in Kolkata. Progress on the internal merger of Spice Money into DiGiSPICE continues, with the second motion petition filed with the NCLT on July 24, 2026.

Standalone net loss widened to ₹2.79 Cr in Q1 FY27 vs ₹0.97 Cr in Q1 FY26
Recognized an exceptional impairment loss of ₹2.07 Cr on a Kolkata investment property
Shareholders approved the merger scheme with Spice Money Limited on July 13, 2026
Second motion petition for the merger filed with NCLT on July 24, 2026
Recoveries ongoing against a ₹4.00 Cr provision made in March 2026 for distributor fraud

💡 Investors should monitor the NCLT approval timeline for the Spice Money merger, as the standalone entity currently lacks operational revenue and the company's value is tied to its fintech subsidiary.

DiGiSPICE to Host Q1 FY27 Earnings Conference Call on August 7, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Aug 2026, 04:12 PM

DiGiSPICE Technologies has scheduled its Q1 FY27 earnings conference call for August 7, 2026, at 3:00 PM IST to discuss results for the quarter ended June 30, 2026. The company enters this period following a profitable FY26, where it recorded a PAT of ₹19.26 crore, recovering from a ₹38.89 crore loss in FY25. Investors will be looking for updates on the 'New Engines' strategy (Credit and Spice Pay) and the progress of the Spice Money merger into the holding company. The company currently maintains an 18.5% market share in its segment with a network of over 1 million Adhikaris.

Earnings conference call scheduled for August 7, 2026, at 03:00 PM IST.
Discussion to cover financial performance for the quarter ended June 30, 2026.
Company reported a TTM revenue of ₹465 crore with an operating margin of 4.4%.
Transaction success rates have improved to approximately 74% as of H1 FY26 from 63.8% in FY24.
Management to provide updates on the internal merger of Spice Money Limited into DiGiSPICE Technologies.

💡 Investors should review the Q1 FY27 financial results once released and listen to the call for management's commentary on the scaling of high-margin credit services and the timeline for the NCLT-led merger.

DiGiSPICE Appoints Pankaj Arora as Executive Director for 1-Year Term

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 31 Jul 2026, 06:09 PM

DiGiSPICE Technologies has appointed Mr. Pankaj Arora as an Additional Director in the category of Executive Director, effective August 1, 2026. He will also serve as the Whole-time Director and Company Secretary for a fixed term of one year. Mr. Arora brings approximately 16 years of experience as a member of the Institute of Company Secretaries of India. The appointment is subject to shareholder approval, which must be obtained within the next three months.

Appointment of Mr. Pankaj Arora as Executive Director effective August 1, 2026
The term of appointment is fixed for a period of 1 year
Mr. Arora possesses approximately 16 years of professional experience
Shareholder approval for the appointment is required within 3 months

💡 Monitor the upcoming shareholder vote for approval and observe if this leadership change impacts the ongoing merger of Spice Money into DiGiSPICE.

Aug 5 Board Meeting Scheduled to Approve Q1 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 28 Jul 2026, 10:11 PM

DiGiSPICE Technologies has scheduled a board meeting for August 5, 2026, to consider and approve its unaudited financial results for the quarter ended June 30, 2026. In compliance with SEBI insider trading regulations, the trading window for designated persons has been closed since July 1, 2026. The window is set to remain closed until August 7, 2026, which is 48 hours after the results are disclosed. This is a routine regulatory filing providing the timeline for the upcoming earnings release.

Board meeting scheduled for August 5, 2026, to approve Q1 results
Financial results pertain to the quarter ended June 30, 2026
Trading window for insiders closed from July 1, 2026
Trading window to remain closed until August 7, 2026

💡 Monitor the exchange filings on August 5, 2026, for the detailed standalone and consolidated financial performance of the company.

View All DIGISPICE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Spice Money (Fintech) is the primary driver, with revenue growing 49% YoY to INR 858 Cr in FY22 from INR 578 Cr. In Q2 FY26, Customer GTV grew 23% YoY, while H1 FY26 GTV grew 25% YoY. The Digital Services segment saw a marginal decline to INR 133 Cr in FY22 from INR 134 Cr.

Geographic Revenue Split

Focus is on 'Deep Bharat' (rural and semi-urban India) with over 1 million Adhikari touchpoints. Market share growth of 18.5% is reported across all major regions in India, with Spice Money outpacing industry growth (27.9% vs 15% industry average).

Profitability Margins

Gross Margin for Q2 FY26 stood at INR 52 Cr (41.7% of revenue), up 20.3% YoY. H1 FY26 Gross Margin improved by INR 16 Cr (19% growth). Operating Profit Margin was 1.25% in FY25 compared to 1.20% in FY24. Net Profit Margin for FY25 was 1.46%.

EBITDA Margin

EBITDA for Q2 FY26 rose 3.2x (220%) YoY to INR 6.9 Cr. EBIT for Q2 FY26 was INR 10.6 Cr, a 30x increase YoY. Historical EBITDA for Spice Money was INR 22 Cr in FY22 (2.5% margin), while the Digital Services segment reported an EBITDA loss of INR 8 Cr.

Capital Expenditure

The company operates an asset-light model. Historical cash accruals of INR 18-25 Cr per annum were projected to cover moderate capex requirements. Strategic realignment involves incorporating holding company indirect costs as investments for long-term growth.

Credit Rating & Borrowing

The company is debt-free, utilizing only cash credit facilities for treasury management. Interest coverage ratio was 6.16 in FY25 (down 63% from 16.47 in FY24). CRISIL previously rated the group with a 'Stable' outlook, noting interest coverage above 25x in FY22.

⚙️ Operational Drivers

Raw Materials

Not applicable as a fintech service provider; primary costs are agent commissions (Adhikari payouts), technology infrastructure, and banking service provider (BC) fees.

Key Suppliers

Key partners include various commercial banks for Business Correspondent (BC) tie-ups and technology vendors for platform maintenance.

Capacity Expansion

Current reach exceeds 1 million Adhikari (agent) touchpoints. Expansion is focused on increasing the 'success rate' of transactions, which improved from 63.8% in FY24 to ~74% in H1 FY26.

Raw Material Costs

Operating costs are driven by transaction volumes. Gross Margin growth of 20.3% YoY in Q2 FY26 indicates improved take-rates and operational efficiency despite competitive pressures.

Manufacturing Efficiency

Measured by transaction success rates (74%) and market share (18.5%). Operating leverage is starting to play out, resulting in two consecutive quarters of consolidated PAT (INR 7.2 Cr in Q2 FY26).

Logistics & Distribution

Distribution is handled via a digital network of 1 million+ retail agents (Adhikaris) across rural India.

📈 Strategic Growth

Expected Growth Rate

25-28%

Growth Strategy

Achieved through the 'New Engines' strategy (Credit and Spice Pay), increasing transaction success rates to 74%, and expanding the Adhikari base. The company is also leveraging its leading BC network to drive deeper penetration of AePS cash deposits and other financial services in rural markets.

Products & Services

Aadhaar Enabled Payment System (AePS) cash-out, AePS cash deposit, Spice Pay, Credit/Lending services, and other banking/transactional services for rural consumers.

Brand Portfolio

Spice Money, DiGiSPICE.

New Products/Services

New engines include 'Credit' (lending) and 'Spice Pay', which are expected to contribute to margin expansion as they scale beyond the current pilot phases.

Market Expansion

Targeting 'Deep Bharat' (rural India) to drive financial inclusion. The company is currently merging Spice Money into DiGiSPICE to streamline the corporate structure and improve capital efficiency.

Market Share & Ranking

Holds approximately 18.5% market share in its segment, outpacing the general industry growth rate of 15%.

Strategic Alliances

Collaborations with various banks as Business Correspondent (BC) partners to facilitate rural banking transactions.

🌍 External Factors

Industry Trends

The industry is growing at 15% YoY, driven by increased adoption of digital payments in rural areas. The trend is shifting toward 'New Engines' like digital credit and integrated payment apps (Spice Pay) to move beyond simple cash-out services.

Competitive Landscape

Intense competition from well-capitalized fintech players and traditional banks expanding their BC networks.

Competitive Moat

Moat is built on a massive physical-digital network of 1 million+ Adhikaris in remote locations. This network effect creates a barrier for new entrants, though sustainability depends on maintaining agent loyalty and high transaction success rates.

Macro Economic Sensitivity

Highly sensitive to rural consumption patterns and government policies regarding digital payments (UPI/AePS) and financial inclusion mandates.

Consumer Behavior

Increasing trust in digital banking among rural populations and a shift from cash-heavy to digital-assisted transactions.

Geopolitical Risks

Low direct impact as operations are focused on the Indian domestic market, though global fintech trends influence local competition.

⚖️ Regulatory & Governance

Industry Regulations

Strict adherence to RBI guidelines for Business Correspondents, KYC norms for agents/customers, and data security standards for financial transactions.

Environmental Compliance

Not a high-impact sector for environmental regulations; focus is on digital governance.

Taxation Policy Impact

Standard corporate tax rates apply; PAT from continued operations was INR 7.3 Cr in Q2 FY26.

Legal Contingencies

The company is currently undergoing an NCLT process for the merger of Spice Money into DiGiSPICE. No major pending litigation values were disclosed in the provided documents.

⚠️ Risk Analysis

Key Uncertainties

Fluctuations in DigiAsia's share price impact the fair value of investments. Margin compression due to competition is a primary risk, potentially impacting EBITDA by 1-2%.