Findi Limited's 1H25 Financial Results and Strategic Growth Plans
FND (FND) Share Update November 2024 Thursday 28th
Findi Limited Reports Strong 1H25 Results and Strategic Growth Initiatives
Findi Limited (ASX: FND) has released its financial results for the first half of 2025, showcasing solid performance and strategic initiatives aimed at long-term growth.
Instant Summary:
- Revenue increased to $33.9 million from $31.8 million in 1H24.
- EBITDA rose to $12.9 million from $12.6 million in 1H24.
- Net loss after tax was $3.9 million, adjusted profit of $860k.
- New merchant deal secured with Central Bank of India.
- Expansion of FindiPay, acquiring ~3,000 merchants per month.
- Provisional White Label ATM license from RBI.
- Binding deal to acquire Tata Communications' White Label ATM business.
Financial Performance
Findi Limited reported a revenue of $33.9 million for the half-year ending 30 September 2024, up from $31.8 million in the same period last year. The company's EBITDA also saw a slight increase, reaching $12.9 million compared to $12.6 million in 1H24.
Despite these positive figures, Findi recorded a statutory net loss after tax of $3.9 million. However, after adjusting for $1.6 million in growth initiatives and $3.16 million related to Convertible Debentures, the company achieved an adjusted profit of $860k.
Strategic Initiatives
Findi has been actively pursuing strategic growth initiatives. The company secured a new merchant deal with the Central Bank of India, expanding its footprint in the financial services sector. Additionally, FindiPay continues to grow, acquiring approximately 3,000 new merchants each month.
Findi has also made significant investments in its people and systems to support this growth, spending $1.6 million on initiatives including C-Suite staff, ERP enhancements, and IT improvements.
White Label ATM Expansion
Findi's subsidiary, Transaction Solutions International (India) Pvt Ltd (TSI), received provisional authorization to set up White Label ATMs from the Reserve Bank of India. This move is part of a broader strategy to expand Findi's ATM network across India.
Moreover, Findi has entered into a binding agreement to acquire Tata Communications' White Label ATM business, a deal expected to significantly enhance its market presence.
The announcement of Findi's financial results and strategic initiatives is likely to have a positive impact on the company's stock. The increase in revenue and EBITDA, along with the strategic acquisition of Tata Communications' ATM business, positions Findi for significant growth in the Indian financial services market.
Investor Reaction:
Analysts are likely to view Findi's strategic initiatives positively, especially the expansion of its ATM network and the acquisition of Tata Communications' White Label ATM business. These moves are expected to enhance Findi's market position and drive future revenue growth.
Conclusion:
Findi Limited's 1H25 results and strategic initiatives demonstrate the company's commitment to growth and expansion in the Indian financial services market. Investors should keep an eye on the successful execution of these plans and their impact on Findi's financial performance.