• Growth and margins: Manipal Payments targets 30% to 35% top-line growth for the current financial year and a 25% to 30% CAGR over the next three years, with operating margins expected to sustain at around 30%.
• Revenue diversification: The emerging and international business currently accounts for roughly one-third of total revenue, with international contributions projected to expand from 15.3% to between 20% and 25% going forward.
• Metal card potential: Realizations on metal cards are 20 to 25 times higher than standard plastic cards, with annual domestic issuance of 10 to 12 lakh cards expected to reach 1 to 1.5 crore cards within four to five years.
• CapEx deployment: The company plans to deploy approximately ₹250 crore from IPO proceeds to triple metal card capacity over the next two to three years, following prior internal investments that doubled base card capacity to 22 crore units.