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Forex Services Leader Balances Strategic Continuity with Modest Profit Growth
Prithvi Exchange (India) Ltd has announced the reappointment of Pavan Kumar Kavad as Managing Director, reaffirming its commitment to leadership continuity and strategic focus. Alongside this governance update, the company released its financial results for the quarter ended June 2025, reporting consolidated revenue from operations of ₹8.56 billion and a net profit of ₹11.2 million. The results reflect stable operational performance in a competitive foreign exchange and remittance market.
Key Developments and Financial Highlights
Pavan Kumar Kavad has been reappointed as Managing Director, continuing his leadership role in steering the company’s growth and operational strategy.
Consolidated revenue from operations for Q1 FY26 stood at ₹8.56 billion, driven by strong demand in forex services and remittance solutions.
Net profit for the quarter came in at ₹11.2 million, reflecting modest growth amid rising operational costs and competitive pricing pressures.
The company maintained a lean cost structure and focused on expanding its digital footprint across India.
Leadership Continuity and Strategic Direction
Pavan Kumar Kavad, who has served in various capacities at Prithvi Exchange since 2015, continues to play a pivotal role in shaping the company’s strategic roadmap. His reappointment signals the board’s confidence in his ability to lead the organization through evolving market dynamics and regulatory landscapes.
Under his leadership, Prithvi Exchange has:
Expanded its branch network across Tier 1 and Tier 2 cities
Strengthened its compliance and risk management framework
Invested in digital platforms for forex booking and remittance tracking
Enhanced customer experience through tech-enabled services
Business Segment Overview
Foreign Exchange Services The core forex business remained resilient, with increased transactions from travelers, students, and corporates. Currency exchange volumes rose, supported by seasonal travel demand and competitive rates.
Remittance and Money Transfer Inward remittance volumes grew, particularly from the Middle East and Southeast Asia. The company’s partnerships with global money transfer operators helped expand its reach and service reliability.
Corporate and NRI Services Prithvi continued to serve corporate clients and NRIs with customized forex solutions, including hedging instruments and travel cards. This segment contributed to stable revenue and client retention.
Operational Metrics and Financial Indicators
Earnings per share (EPS): ₹0.13
Operating margin: 1.3 percent
Return on equity (ROE): 16.1 percent
Debt-to-equity ratio: 0.1, indicating low leverage
Market capitalization: ₹1.36 billion as of August 6, 2025
The company’s financials reflect a cautious approach to growth, with emphasis on liquidity, compliance, and operational efficiency. While profit margins remain thin, the focus on volume growth and service diversification is expected to yield long-term benefits.
Strategic Initiatives and Outlook
Prithvi Exchange is investing in AI-powered customer service tools and mobile app enhancements to improve user engagement.
Expansion into underserved regions and airport kiosks is underway to capture new customer segments.
The company is exploring cross-border payment solutions and blockchain-based remittance platforms to stay ahead of fintech disruption.
Training and upskilling programs for staff are being rolled out to ensure service excellence and regulatory adherence.
Management remains cautiously optimistic for FY26, citing stable demand, digital adoption, and leadership continuity as key drivers of growth.
Stock Performance and Market Sentiment
Prithvi Exchange’s stock traded around ₹166 as of August 6, 2025, showing a steady trend over the past month.
The company’s P/E ratio stands at 17.1, with a price-to-book ratio of 2.8.
Analysts view the stock as a stable play in the financial services sector, with potential upside from digital expansion and remittance growth.
Conclusion
Prithvi Exchange’s Q1 FY26 results and leadership reappointment reflect a blend of strategic continuity and operational resilience. With ₹8.56 billion in revenue and ₹11.2 million in net profit, the company continues to navigate the evolving forex landscape with discipline and innovation. As Pavan Kumar Kavad resumes his role as MD, Prithvi Exchange is poised to deepen its market presence and enhance shareholder value.
Sources: BlinkX, FileSure
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