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Manipal Payment and Identity Solutions derived 57.25% of Fiscal 2026 revenue from cards, despite debit-card payment value falling Rs 2.1719 lakh crore through Fiscal 2025.
The Company kept cards as its largest Fiscal 2026 revenue line at Rs 759.521 crore, while other services more than doubled from Fiscal 2024.
UPI has shifted routine payments from debit cards, while credit-card value reached Rs 23,62,470 crore in Fiscal 2026, versus Rs 4,45,480 crore for debit cards.
Manipal Payments’ 2024 and 2025 promoter-business acquisitions added cheque logistics and tax-stamp capabilities, with related categories representing 22.69% of Fiscal 2026 revenue.
Manipal Payment and Identity Solutions has earmarked Rs 238.426 crore of identified net IPO proceeds for equipment, including extensively listed second-hand machinery.
India’s metal cards are projected to reach 10.5 million annual issuances by FY2030, growing 47.2% annually as plastic-card issuance declines 11.8%.
Company’s strategic finance head is seconded from MTL while its CISO remains on MTL’s payroll; MTL holds 61.55% of fully diluted equity.
Pai’s personal-insolvency action remains pending under an interim stay after Bank of Baroda invoked a $77,461,427.07 guarantee in February 2023.
The Company contests Rs 143.277 crore in quantified tax demands, led by two card-personalisation excise appeals involving Rs 144.33 crore of duty and penalties.
Manipal Payment recorded a Rs 315.439 crore amalgamation deficit after paying Rs 415 crore for two holding-company divisions with Rs 99.561 crore of net assets.
Manipal Payment’s Fiscal 2025 related-party schedule shows Rs 560 crore of investment-sale proceeds, Rs 110.14 crore above its Rs 449.87 crore debenture investment.
Glass Wall Systems faces a Bombay High Court petition over tribunal relief in façade-contract VAT assessments originally totalling approximately Rs 31.231 crore.
Company had Rs 125.01 crore of sanctioned facilities on August 3, 2026, of which Rs 90 crore was for letters of credit and guarantees.
Glass Wall Systems generated Rs 206.573 crore, or 45.20% of Fiscal 2026 revenue, from international façade-products supply, nearly matching domestic façade solutions.
Glass Wall Systems’ Vile Bhagad utilisation rose to 87.06% in Fiscal 2026 after Fiscal 2025 order deferrals reduced it to 53.91%.
Glass Wall Systems has 11 pre-offer shareholders, with nine promoter and promoter-group holders owning 64.38% and two funds holding the remaining 35.62%.