One MobiKwik Systems Limited – Investor Presentation Summary

Key Operational Highlights

  • Platform Spend GMV reached ₹586,841.14 Mn in Q1 FY27, representing 50% YoY growth.
  • Wallet transactions stood at 106 Mn in Q1 FY27, a 68% increase YoY.
  • Full KYC Wallets reached 40 Mn in Q1 FY27, a 6% increase YoY.
  • The company claims a ~19% market share of total PPI Wallet GMV.
  • Registered Users grew to 192.75 Mn as of June 30, 2026, with 3.18 Mn New Registered Users added in the quarter.
  • Merchants on the platform reached 5.02 Mn, with 4.83 Mn Offline Merchants and 0.19 Mn Online Merchants.
  • Key drivers include the growth of Pocket UPI (PPI on UPI), which is described as the wallet's growth engine, and increased user engagement for daily use.

Segment-wise Performance

Payments Segment:

  • Payment GMV (excluding Payment Gateway) stood at ₹561,209.13 Mn in Q1 FY27.
  • UPI GMV was ₹269 Bn, up 99% YoY.
  • PPI Wallet GMV was ₹125 Bn, up 24% YoY.
  • Recharge and Bill Payments GMV was ₹89 Bn, up 37% YoY.
  • Payment Gateway GMV (Zaakpay) was ₹25,632.02 Mn.

Financial Services (Lending) Segment:

  • Digital Credit GMV (disbursements) was ₹7,366.96 Mn in Q1 FY27.
  • ZIP EMI GMV (disbursements) was ₹7,366.96 Mn.
  • Activated - MobiKwik Zip EMI Users reached 1.64 Mn.
  • Credit - Partner AUM was ₹12,873.42 Mn.

Financial Highlights

Q1 FY27 Standalone Figures:

  • Revenue from operations: ₹2,814.81 Mn
  • EBITDA: ₹157.75 Mn
  • EBITDA Margin: 5.46%
  • Profit After Tax (PAT): ₹76.16 Mn
  • PAT Margin: 2.6%

YoY Comparison:

  • EBITDA showed a ₹470 Mn positive swing from -₹793.99 Mn in FY25.
  • PAT showed a ₹495 Mn positive swing from -₹1,215.29 Mn in FY25.
  • The improvement reflects a structural shift in the business, driven by GMV growth and cost rationalization.

Drivers of financial performance: Higher revenue growth, improved credit quality in lending, and strict cost rationalization measures.

Geographical Revenue Split

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Balance Sheet Snapshot

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Capex & Cash Flow Health

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Strategic & R&D Initiatives

  • Lending Business Transfer: Migrating the Lending Service Provider (LSP) business to MobiKwik Distribution Services Private Limited (MDSPL), a wholly-owned subsidiary, to activate an NBFC.
  • Growth Targets: The lending business is poised to deliver ₹10,000 Mn+ in quarterly disbursals in upcoming quarters.
  • AI Deployment: Leveraging an AI engine to enhance lending funnel conversions.
  • Merchant Payments Scale-up: A focus on scaling merchant payments by FY28 through device base scaling, vertical specialization, and multi-segment GMV growth.

Industry Trends & Business Environment

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Management Commentary & Growth Outlook

  • Strategic Outlook: The company is targeting full-year positive PAT in FY27 on the back of a strong start in Q1.
  • Expectations: The company expects consistent GMV growth with stable Net Payments Margin (guided range of 12-15 bps).
  • Risks and Opportunities: The presentation mentions the opportunity to resume certain categories with proper guardrails in place but does not specify the risks.

ESG Updates

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Digital Transformation

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