Manipal Payment and Identity Solutions Limited
NSE: MPIMANIPAL · Financial Technology (Fintech)
Snapshot
Unlock Manipal Payment and Identity Solutions Limited's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Manipal Payment and Identity Solutions Limited is a leading global provider of payment, identification, secure, and smart tagging solutions for banks, fintechs, NBFCs, and governments. Its diverse product portfolio includes payment cards, national identity cards, secure logistics, and excise labels deployed across domestic and international markets.
Business Model
The company generates revenue by manufacturing and supplying high-volume payment and identification products, such as credit and debit cards, cheque solutions, and secure government documents. It operates through 10 facilities and five central card processing centres, serving over 300 customers globally.
- Credit card issuance market share (India, FY2026):36.4%
- Debit card issuance market share (India, FY2026):30.9%
Management Commentary
Management highlights strong operational delivery, evidenced by substantial card issuance volumes and consistent bottom-line growth over recent fiscal periods. The company continues to expand its global footprint through exports to Asia, Africa, South America, and Europe.
- Profit for the year (FY2026):₹ 2,534.62 million
Growth Outlook
Growth is underpinned by sustained demand for digital payment instruments, government identification programmes, and secure IoT tagging solutions. Expansion into international markets and scaling of acquired variable data printing and secure logistics businesses provide additional avenues for growth.
- Credit cards billed (FY2026):13.54 million
- Debit cards billed (FY2026):72.66 million
Key Risks
- Regulatory and Compliance Risk. Stricter data security and privacy regulations for identity and payment solutions could increase operational compliance costs.
- Customer Concentration. A significant portion of revenue relies on major banking and government clients, making the company vulnerable to shifts in client procurement policies.
- Technological Obsolescence. Rapid shifts toward digital-first payment methods could eventually reduce the long-term demand for physical payment cards.
Start your research today
Unlock AI insights, financials, peers and live data on Manipal Payment and Identity Solutions Limited and 5,000+ companies — free.
Peers · Financial Technology (Fintech)
| Company | Mkt Cap | P/E (TTM) | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
Manipal Payment and Identity Solutions LimitedMPIMANIPAL | ₹8,637 Cr | — | — | — | 32.0% | — | — | — |
Pine LabsPINELABS | ₹21,622 Cr | 148.3× | 38.20 | — | 19.0% | 2.2% | 4.2% | — |
Moneyview LimitedMONEYVIEW | ₹10,073 Cr | — | — | — | 33.0% | — | — | — |
Seshaasai Technologies LimitedSTYL | ₹5,822 Cr | 22.1× | 13.77 | — | 27.5% | 18.5% | 24.8% | -14.7% |
Turtlemint Fintech Solutions LimitedTURTLEMINT | ₹4,014 Cr | — | — | — | -12.0% | — | — | — |
One Mobikwik Systems LimitedMOBIKWIK | ₹1,598 Cr | -121.1× | 38.77 | 2.7% | 3.7% | -2.2% | 2.0% | -27.9% |
As of Mar 2026
Financials
Manipal Payment and Identity Solutions Limited
NSE: MPIMANIPAL · Financial Technology (Fintech)
Snapshot
Unlock Manipal Payment and Identity Solutions Limited's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Manipal Payment and Identity Solutions Limited is a leading global provider of payment, identification, secure, and smart tagging solutions for banks, fintechs, NBFCs, and governments. Its diverse product portfolio includes payment cards, national identity cards, secure logistics, and excise labels deployed across domestic and international markets.
Business Model
The company generates revenue by manufacturing and supplying high-volume payment and identification products, such as credit and debit cards, cheque solutions, and secure government documents. It operates through 10 facilities and five central card processing centres, serving over 300 customers globally.
- Credit card issuance market share (India, FY2026):36.4%
- Debit card issuance market share (India, FY2026):30.9%
Management Commentary
Management highlights strong operational delivery, evidenced by substantial card issuance volumes and consistent bottom-line growth over recent fiscal periods. The company continues to expand its global footprint through exports to Asia, Africa, South America, and Europe.
- Profit for the year (FY2026):₹ 2,534.62 million
Growth Outlook
Growth is underpinned by sustained demand for digital payment instruments, government identification programmes, and secure IoT tagging solutions. Expansion into international markets and scaling of acquired variable data printing and secure logistics businesses provide additional avenues for growth.
- Credit cards billed (FY2026):13.54 million
- Debit cards billed (FY2026):72.66 million
Key Risks
- Regulatory and Compliance Risk. Stricter data security and privacy regulations for identity and payment solutions could increase operational compliance costs.
- Customer Concentration. A significant portion of revenue relies on major banking and government clients, making the company vulnerable to shifts in client procurement policies.
- Technological Obsolescence. Rapid shifts toward digital-first payment methods could eventually reduce the long-term demand for physical payment cards.
Start your research today
Unlock AI insights, financials, peers and live data on Manipal Payment and Identity Solutions Limited and 5,000+ companies — free.
Peers · Financial Technology (Fintech)
As of Mar 2026