Financial Performance Highlights

Q2 FY 2026-27 (Quarter Ended September 30, 2026):

  • Gross Turnover: ₹2,913.97 Cr, representing +41.2% YoY growth and +95.5% QoQ growth
  • Revenue from Operations: ₹44.58 Cr, representing +30.0% YoY growth and +91.9% QoQ growth
  • Profit Before Tax: ₹5.33 Cr, representing +9.6% YoY growth and 9.1x QoQ growth
  • Other Income: ₹1.41 Cr (+58% YoY)
  • Basic EPS: ₹3.29 (not annualized)
  • Diluted EPS: ₹3.19 (not annualized)

H1 FY 2026-27 (Half Year Ended September 30, 2026):

  • Gross Turnover: ₹4,404.73 Cr (+39.5% YoY)
  • Revenue from Operations: ₹67.81 Cr (+29.2% YoY)
  • Profit Before Tax: ₹5.91 Cr (+17.6% YoY)
  • Other Income: ₹2.63 Cr (+74.1% YoY)

Operational Metrics

  • September 2026 set an all-time monthly record with ₹1,308.26 Cr gross turnover
  • 70% of transactions were digital with 86,618 cumulative app registrations
  • Active Corporates: 944
  • Active Agents: 621
  • Branch network expanded to 26 locations across India (2 new branches added in Thane and Whitefield, Bengaluru)
  • Card distribution live with 22 partners

Regulatory Developments

  • Received perpetual AD Category-II authorization from RBI on July 30, 2026
  • Authorization supports multi-year contracts with banks, partners, and institutional customers
  • Family-maintenance remittances resumed after the July 10-30 transition window
  • Company is RBI-licensed AD Category-II, BSE-listed, ISO 27001:2022-certified, and PCI DSS-certified

Segment Performance

  • Student Segment: +44.2% YoY, representing 83% of total turnover
  • Corporate Business: +12.3% YoY with 900+ active corporates including EY, Siemens, Tech Mahindra, Zoho, LTIMindtree
  • Retail Business: +19.1% YoY after -13.0% decline in Q1
  • AD-II Outward Remittance: +53.9% YoY
  • Prepaid-card GTO: +28.9% QoQ

Cost Structure

  • Selling, General & Administrative Expenses: ₹2,312.29 Cr for H1 FY27
  • Employee benefits expense: ₹1,530.89 Cr for H1 FY27
  • Finance Costs: ₹92.05 Cr for H1 FY27
  • Depreciation & Amortization: ₹233.76 Cr for H1 FY27
  • Brokerage and commission: ₹3,814.25 Cr for H1 FY27

Tax Expense

  • Current tax: ₹127.40 Cr for Q2 FY27
  • Deferred tax: (₹20.29) Cr for Q2 FY27
  • Total tax expense: ₹135.27 Cr for H1 FY27

Strategic Priorities

1. Operationalise FEMA 401 for expanded addressable market

2. Deepen student payments through higher partner activation

3. Increase wallet share in existing segments

4. Expand partner-led distribution through 26 branches and 22 card-distribution partners

5. Deepen digital platform adoption (70% of transactions already digital)

6. Accelerate cards & direct-to-consumer growth across Global Pay, Xplorer and Uni-Z journeys

7. Maintain compliance by design with disciplined, sustainable scale

Market Environment

Headwinds:

  • LRS overseas-education remittances dip market-wide
  • US visa scrutiny & timeline uncertainty in largest study corridor
  • Geopolitical tensions and global economic uncertainty
  • FX volatility & weak discretionary travel

Tailwinds:

  • Peak student remittance season (Jul-Sep)
  • NBFC engine at record scale with multiple partnerships
  • Regulatory unlock with perpetual AD-II licence
  • Digital-first distribution growth

Corporate Structure

  • CIN No. L66190MH1986PLC039660
  • Contact: +91 22 62709600 | info@wsfxglobalpay.com