AvenuesAI Limited (CCAVENUE) share price

₹15.02 on NSE as of 2026-10-08. -3.47% on the day. market cap ₹5,252 Cr. P/E 14.9. 52-week range ₹13.15 to ₹19.28. Financial Services.

www.avenuesai.com

AvenuesAI Q1 FY27: Gross Revenue Up 109% to ₹2,680 Cr, Net Take Rate Down 49%, and a 10-to-1 Share Consolidation

At a glance

Gross revenue for the three months to June 2026 came in at ₹2,680 crore. That is up 109% from ₹1,280 crore a year earlier. Operating profit was ₹100 crore against ₹71 crore. Profit attributable to owners was ₹76.2 crore, against ₹61.3 crore.

Somewhere in that pile of doubling, the company also changed its name. Infibeam Avenues became AvenuesAI, which is the corporate equivalent of a new haircut and a new personality.

The quarter was busy in the way that makes company secretaries reach for the good pen. One board meeting on 11 August produced the quarter's results and a scheme of amalgamation. It also produced a variation in the objects of a rights issue and a raised investment limit. A 10-to-1 share consolidation and an AGM notice came out of the same sitting. The meeting ran from 11:00 a.m. to 2:10 p.m., which for that agenda is either discipline or a very short lunch.

Underneath, the operating numbers moved in two directions. Transaction Processing Value reached ₹1,479 billion, up 74% on the year, according to the company's presentation. Payments net take rate over the same period was 5.3 basis points against 10.4, a fall of 49%. A basis point is one hundredth of one percent, so this is the slice kept on each rupee processed. Net revenue, which management describes as the correct lens, was ₹1,475 million, down 3% on the year. The company's own slide deck prints all three of those numbers side by side.

Introduction

Incorporated in 2017 as per its filings, the entity behind CCAvenue has a longer operating story than that date suggests. It tells that story mostly in the form of firsts. In 2007 it became the first Indian payment aggregator to achieve PCI-DSS compliance, the card industry's security standard. In 2008 it was the first certified by American Express for global currency processing. In 2013 the first RuPay debit card transaction went through CCAvenue. In 2016 it was the first fintech to list, and in 2017 the first licensed by the Reserve Bank as a bill payment operating unit. The corporate presentation devotes two full slides to this, in a layout best described as a trophy cabinet with a scroll bar.

The company describes itself as holding roughly 8% of India's digital payments market. It also places itself among India's top three business-to-business online payment gateways. Abroad, it says it stands second among non-bank private payment companies in the UAE. It reached that position within 18 months of entering in June 2018.

It reports more than 10 million merchants and over 950 employees. Of those, 300-plus are described as domain experts, a distinction the presentation makes but does not explain. The remaining 650 are left in a comfortable ambiguity.

In August 2024 it acquired a 54% stake in Rediff.com India Ltd. In February 2025 Rediff received approval from NPCI to act as a third-party UPI application, under the RediffPay brand with Axis Bank as its sponsor bank. During the June 2026 quarter the company acquired the remaining 9.90% of Nueromind Technologies, making it wholly owned. It then approved merging that subsidiary into the listed entity altogether.

Marquee clients listed include Indigo, Taj, MakeMyTrip and the Government of India. Others named are HUL, Bisleri, Jio, Airtel, Myntra, Oberoi, ITC and Burj Khalifa At The Top. That last one means observation-deck tickets sit in the ledger beside electricity bills.

Business model

The company runs two reported segments. Payment Business brought in ₹2,626 crore of the June quarter's revenue. E-Commerce Platform Business brought in ₹54 crore. That is a split with a clear protagonist and a supporting character who still gets billing in the credits.

CCAvenue is the payment gateway, an RBI-approved payment aggregator, meaning it is licensed to collect money on behalf of merchants. It offers over 200 payment options across 27 international currencies. It can handle up to 2,400 transactions per second. Two hundred options is rather more than any one person has ever used, but the checkout page carries them all. Somewhere there is a merchant whose customers pay only through the fifth-most-obscure net banking rail.

BillAvenue runs on the Bharat BillPay System as a licensed operating unit. It serves over 1.2 million agents and 85% of billers on that system. This is the plumbing that makes paying a utility bill feel like nothing at all, which is the point and the reason nobody thanks it.

GoPayments handles assisted commerce through more than 110,000 agents across over 10,000 pin codes. It offers Aadhaar-based cash withdrawal, money transfers and prepaid cards. ResAvenue does hospitality, integrated with hotel property-management stacks such as Opera Micros-Fidelio.

Then there is the new architecture. Management describes four pillars: payments, consumer, intelligence and credit. It states these are no longer separate businesses but are becoming one integrated platform. The presentation renders this as a flywheel diagram whose arrows return to their own origin.

Consumer is Rediff, positioned as a low-cost way to acquire users through email, content and communities. Intelligence is Phronetic AI. Credit is described by management as an emerging distribution layer, built through minority stakes in regulated lenders. Management says the structure is explicit: regulated partners provide the balance sheet and the underwriting. In plain language, the company stands near the lending without holding the loan.

Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for AvenuesAI Limited.

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