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BSE SME-listed Veefin Solutions reported a 127% YoY rise in consolidated net profit to ₹24.9 Cr in H1 FY27, while operating revenue more than doubled to ₹238.8 Cr. The company also reported sequential growth in both profit and operating revenue, with net profit rising 9% and revenue increasing 3% over H2 FY26. Veefin’s total expenses rose 109% YoY to ₹205.3 Cr in H1 FY27. In Q2 FY27, net profit increased 61% QoQ to ₹15.3 Cr, while operating revenue rose 9% to ₹124.7 Cr. Ahead of listing on the mainboard, BSE SME-listed fintech SaaS company Veefin Solutions reported a 127% rise in its consolidated net profit to ₹24.9 Cr in H1 FY27 from ₹11 Cr in the corresponding period of the previous fiscal year. The company’s net profit also increased 9% from ₹22.8 Cr in the preceding six months. Operating revenue more than doubled to ₹238.8 Cr in the first half of FY27 from ₹110.4 Cr a year earlier. This was also 3% higher than the ₹232.7 Cr recorded in H2 FY26. Including other income of ₹1.8 Cr, Veefin’s total income stood at ₹240.6 Cr in H1 FY27, compared with ₹112.1 Cr a year earlier. Total expenses increased 109% to ₹205.3 Cr from ₹98 Cr. For Q2 FY27, Veefin’s net profit rose 61% to ₹15.3 Cr from ₹9.5 Cr in the preceding quarter. Operating revenue increased 9% QoQ to ₹124.7 Cr from ₹114.2 Cr, while total income stood at ₹125.7 Cr. The company’s consolidated EBITDA, or earnings before interest, taxes, depreciation and amortisation, rose 160% to ₹60.8 Cr in H1 FY27 from ₹23.4 Cr in the year-ago period. Its EBITDA margin expanded to 25.5% from 21.2%, an improvement of 424 basis points. The consolidated profit margin also increased to 10.4% from 9.9%. On a standalone basis, Veefin reported operating revenue of ₹49.2 Cr in H1 FY27, up 83.6% from ₹26.8 Cr a year earlier. Standalone EBITDA more than doubled to ₹27.2 Cr from ₹13.1 Cr, while net profit rose 79.4% to ₹14 Cr from ₹7.8 Cr. Important to highlight that the SME company secured an in-principle approval from the BSE’s Internal Regulatory Oversight and Review Group (IRORG) to migrate its shares from the exchange’s SME Platform to the mainboard. It is yet to receive a go-ahead from the NSE for the migration. Veefin’s Growing Business Pipeline Beyond its financial performance, Veefin reported an open business pipeline of ₹920 Cr at the end of the September quarter, up from ₹760 Cr at the end of the preceding quarter. The company added ₹240 Cr in new opportunities during the quarter, while ₹46 Cr was converted into contracted business. Other movements reduced the pipeline by a net ₹35 Cr. The pipeline comprises 77 deals across 16 countries in five regions. According to the investor presentation, 75% of the pipeline is qualified, while 11% is under negotiation. The company also reported recent wins involving a leading finance company and two public sector banks (PSBs) in India. Supply chain finance (SCF) accounts for 35% of the pipeline value, followed by digital lending at 23%, trade and cash management at 18%, and digital banking at 16%. Fraud and risk management contributes 3%, while other products account for the remaining 5%. The company has expanded beyond its bread and butter SCF, with 65% of the open pipeline value coming from offering beyond SCF. Further, 38 of the 77 deals involve customers evaluating more than one product, indicating opportunities to sell multiple solutions to the same customer.’ Veefin’s broader product portfolio includes supply chain finance, trade finance, cash and liquidity management, loan origination and management, debt collections, corporate and retail internet banking, mobile banking, fraud management, risk analytics and financing infrastructure. The latter includes its PSB Xchange Marketplace, guarantee management and TReDS technology. International markets account for 84% of the pipeline value. Southeast Asia contributes 56%, followed by India at 16%, the rest of South Asia at 12%, the Middle East at 11%, Africa at 3% and Europe at 2%. India accounts for the largest number of deals, at 32%, followed by Southeast Asia at 29%. Existing customers contributed 73.9% of standalone revenue during the first half, with new customers accounting for the remaining 26.1%. In Q2 FY27, the corresponding shares were 69.9% and 30.1%, respectively. Shares of Veefin ended today’s trading session 14.89% higher at ₹245.30 apiece on the BSE.
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