AvenuesAI Q4 FY26: Profitable scale as payments turn into AI-native infrastructure
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FY26 gross revenue was INR 81,158 million, net revenue was INR 6,031 million, EBITDA (excluding one-time and MTM/FV) was INR 3,873 million and PAT (excluding one-time and MTM/FV) was INR 3,320 million.
Q4 FY26 TPV was INR 1,655 billion (+101% YoY), gross revenue INR 24,895 million (+115% YoY), net revenue INR 1,495 million (+11% YoY), EBITDA INR 994 million (+28% YoY) and PAT INR 955 million (+90% YoY), on an adjusted basis.
The documents report NTR fell to 7 bps in FY26 from 11.7 bps in FY25 (and to 6 bps in Q4 FY26 from 10.6 bps). Management attributed this to strategic volume expansion and focus on scaling transaction volumes.
Management stated the company does not plan to use its balance sheet for lending. It plans an asset-light approach by partnering with NBFCs and selectively taking minority stakes, focusing on distribution and intelligence-led underwriting.
The presentation targets 12–15% international contribution to Payments net revenue by FY28. It states UAE and Oman are operational, Saudi expected to be fully operational in FY26, and Australia and USA to be operational by FY27.
The presentation cites launch of PayCentral.ai (agentic payments platform built on Google’s AP2 framework) and CCavenue CommerceAI with Model Context Protocol to enable AI agents and enterprise systems to initiate and orchestrate secure payment workflows.
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