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MobiKwik Receives BSE Approval to Launch Stock Broking Business Effective Feb 24, 2026
One MobiKwik Systems' subsidiary, MSBPL, has received final approval from the BSE to commence stock broking operations starting February 24, 2026. This follows the SEBI registration obtained in July 2025, allowing the company to offer equity trading, clearing, and settlement services. With a massive user base of over 186.6 million registered users, MobiKwik is well-positioned to cross-sell broking services to its existing digital wallet and payment customers. This move marks a significant step in the company's transition into a comprehensive financial services provider.
Key Highlights
BSE approval received for stock broking; operations to commence from February 24, 2026.
Follows SEBI registration granted in July 2025, completing regulatory requirements for the subsidiary MSBPL.
MobiKwik currently serves over 186.6 million registered users and 4.79 million merchants.
Company holds an 18% market share in the PPI wallet gross transaction value as of December 2025.
💼 Action for Investors
Investors should monitor the adoption rate of the broking platform among MobiKwik's existing 186 million users as it competes with established discount brokers. Successful scaling of this business could significantly enhance the company's average revenue per user (ARPU).
MobiKwik Subsidiary Receives BSE Approval to Commence Business as Trading Member
One MobiKwik Systems Limited's wholly-owned subsidiary, MobiKwik Securities Broking Private Limited, has received formal approval to commence business as a trading member on the BSE. This milestone follows the subsidiary's incorporation in March 2025 and its SEBI registration as a stock broker in July 2025. The approval allows MobiKwik to officially enter the stock broking market, diversifying its fintech ecosystem. This move is expected to enhance the company's revenue streams by leveraging its existing user base for investment services.
Key Highlights
MobiKwik Securities Broking Private Limited received BSE approval for business commencement on February 23, 2026.
The subsidiary is a 100% wholly-owned entity of One MobiKwik Systems Limited.
Follows the SEBI Certificate of Registration as a stock broker received on July 03, 2025.
The subsidiary was originally incorporated on March 26, 2025, to facilitate entry into the broking segment.
Approval was officially recorded by the company at 17:34 P.M. on the date of notification.
💼 Action for Investors
Investors should view this as a positive step toward business diversification and monitor the company's ability to scale its broking operations against established competitors. Watch for upcoming user acquisition costs and the impact on overall fintech margins.
MobiKwik Achieves PAT Profitability in Q3 FY26; Payments GMV Hits Record ₹481 Billion
One MobiKwik Systems has successfully turned profitable in Q3 FY26, delivering a PAT of ₹4 crore and an EBITDA of ₹15 crore, marking a ₹59 crore YoY swing. The Payments business reached an all-time high GMV of ₹481 billion, supported by a 220% YoY growth in UPI transactions. Financial services saw a 126% YoY growth in ZIP EMI disbursals, reaching ₹900 crore for the quarter. Management has shifted to a risk-first lending approach, resulting in financial services gross profit jumping 405% YoY to ₹37.2 crore.
Key Highlights
Achieved consolidated PAT of ₹4 crore and EBITDA of ₹15 crore (5% margin) for the first time.
Payments GMV grew 63% YoY to ₹481 billion, with payments revenue reaching ₹223.7 crore.
Personal loan disbursals hit ₹900 crore, with the ZIP EMI product growing 126% YoY.
Consolidated contribution profit jumped 76% YoY to ₹128.8 crore due to margin expansion.
UPI transactions grew 3.2x YoY, with the company maintaining an 18% market share in the wallet segment.
💼 Action for Investors
Investors should view the turnaround to PAT profitability as a significant de-risking event for the company. Monitor the sustainability of the 17 bps payment margins and the credit quality of the lending book as they scale the 'risk-first' model.
MobiKwik Turns Profitable in Q3 FY26 with Rs. 4 Cr PAT and Record Rs. 481 Billion GMV
One MobiKwik Systems achieved a significant milestone by turning PAT and EBITDA positive in Q3 FY26, reporting a PAT of Rs. 4 crores and EBITDA of Rs. 15 crores. Total GMV reached an all-time high of Rs. 481 billion, driven by a 220% YoY growth in UPI transactions and a strong 18% market share in the wallet-on-UPI segment. The financial services segment saw personal loan disbursals reach Rs. 900 crores, with gross profit surging 405% YoY to Rs. 37.2 crores. Management highlighted a shift towards a sustainable operating model with a risk-first approach in unsecured lending.
Key Highlights
Achieved consolidated PAT of Rs. 4 crores and EBITDA of Rs. 15 crores (5% margin), marking a successful turnaround.
Total GMV grew 63% YoY to Rs. 481 billion, representing the 12th consecutive quarter of record growth.
Financial services gross profit jumped 405% YoY to Rs. 37.2 crores, with ZIP EMI disbursals growing 126% YoY.
UPI transactions grew 3.2x YoY, while payments net margin expanded to approximately 17 basis points.
Contribution profit increased 76% YoY to Rs. 128.8 crores, driven by margin expansion across both core business lines.
💼 Action for Investors
Investors should view the achievement of PAT profitability as a major positive catalyst for the stock's valuation. Monitor the sustainability of the 17 bps payment margins and the credit quality of the lending book, given that 80% of disbursals are currently under FLDG arrangements.
MobiKwik Turns PAT Profitable in Q3 FY26 with ₹40 Mn Profit; Payments GMV Up 63% YoY
One MobiKwik Systems Limited achieved a significant milestone by turning PAT profitable in Q3 FY26, reporting a profit of ₹40 Mn compared to a loss of ₹553 Mn in the previous year. The company's Payments GMV reached an all-time high of ₹481 Bn, driven by a 3.2x surge in UPI transactions and a 63% YoY growth. Financial Services showed robust recovery with ZIP EMI GMV growing 126% YoY to ₹9,000 Mn and gross profit in this segment jumping 405% YoY. With a strong unencumbered cash balance of ₹4,244 Mn and improving margins, the company is now focusing on merchant acquiring as its next major growth lever.
Key Highlights
Turned PAT profitable with ₹40 Mn in Q3 FY26, representing a ₹593 Mn swing from the ₹553 Mn loss in Q3 FY25.
Payments GMV hit a record ₹481 Bn, growing 63% YoY, with UPI transactions growing 3.2x YoY.
Financial Services (Lending) GMV reached an all-time high of ₹9,000 Mn, up 126% YoY, with net margins improving to 4.13%.
EBITDA stood at ₹150 Mn (5% margin) against a loss of ₹427 Mn in the same quarter last year.
Maintains a strong liquidity position with ₹4,244 Mn in unencumbered cash and minimal long-term debt.
💼 Action for Investors
Investors should view this as a positive turning point as the company demonstrates a clear path to sustainable profitability while maintaining high growth. Key metrics to watch include the successful scale-up of the merchant acquiring business and the continued stability of credit quality in the lending portfolio.
Mobikwik Q3 FY26 Results: Achieves PAT Profitability of ₹40 Mn; Contribution Profit Up 76% YoY
One Mobikwik Systems reported a significant turnaround in Q3 FY26, achieving a PAT of ₹40 million compared to a loss of ₹553 million in the same quarter last year. Total income grew 8% YoY to ₹2,972 million, driven by a 63% surge in Payments GMV and a 126% growth in ZIP EMI disbursals. The company's focus on high-margin financial services and cost optimization led to a 76% YoY increase in contribution profit to ₹1,288 million. Notably, the Net Financial Services Margin quadrupled YoY to 4.13%, signaling a successful navigation of regulatory transitions.
Key Highlights
Achieved PAT of ₹40 Mn in Q3 FY26 vs a loss of ₹553 Mn in Q3 FY25, marking a successful turnaround.
Payments GMV grew 63% YoY to ₹481 Bn, with UPI GMV increasing 123% YoY to ₹210 Bn.
Financial Services Gross Profit surged 405% YoY to ₹372 Mn with a high gross margin of 57.1%.
Net Payments Margin improved to 17 bps from 13 bps YoY, reflecting improved monetization beyond UPI.
Contribution Profit rose 76% YoY to ₹1,288 Mn, with contribution margins expanding to 43%.
💼 Action for Investors
The company has successfully transitioned to profitability while maintaining high growth in UPI and credit segments. Investors should monitor the sustainability of lending margins and the scaling of new wealth management products expected in FY27.
MobiKwik Turns PAT Profitable in Q3 FY26 with INR 593 Mn YoY Upswing
MobiKwik achieved a major milestone by turning PAT profitable in Q3 FY26, reporting a profit of INR 40 Mn against a loss of INR 553 Mn in the same quarter last year. Revenue grew 8% YoY to INR 2,972 Mn, while EBITDA saw a sharp turnaround to INR 150 Mn from a loss of INR 427 Mn. The performance was driven by a 63% YoY surge in Payments GMV to INR 481 billion and a 126% YoY jump in ZIP EMI (lending) GMV to INR 9,000 Mn. Operating efficiency improved as fixed costs as a percentage of total income fell from 42% to 38%.
Key Highlights
Reported PAT of INR 40 Mn, marking a INR 593 Mn positive swing YoY
EBITDA turned positive at INR 150 Mn compared to a loss of INR 427 Mn in Q3 FY25
Payments GMV hit an all-time high of INR 481 billion, growing 63% YoY
ZIP EMI GMV (Lending) grew 126% YoY to INR 9,000 Mn, surpassing previous peaks
Contribution profit rose 76% YoY to INR 1,288 Mn, driven by a 37% gross margin in payments
💼 Action for Investors
MobiKwik's transition to profitability marks a significant inflection point for the fintech firm. Investors should monitor the sustainability of these margins and the continued scaling of the high-margin lending business.
MobiKwik Turns Profitable in Q3 FY26 with PAT of INR 40.5 Million
One MobiKwik Systems Limited has achieved a significant financial turnaround in Q3 FY26, reporting a consolidated Profit After Tax (PAT) of INR 40.48 million compared to a loss of INR 552.84 million in the same quarter last year. Revenue from operations grew to INR 2,889.46 million, representing a 7.2% year-on-year increase. The company also reported a positive EBITDA of INR 149.72 million, a sharp recovery from an EBITDA loss of INR 426.72 million in Q3 FY25. This performance marks a return to profitability following an exceptional fraud-related loss impact in the previous quarter.
Key Highlights
Consolidated PAT turned positive at INR 40.48 million vs a loss of INR 552.84 million YoY
EBITDA improved significantly to INR 149.72 million from a loss of INR 426.72 million in the year-ago period
Revenue from operations increased to INR 2,889.46 million, up from INR 2,694.77 million YoY
Company has recovered INR 279.03 million out of INR 403.59 million lost to a merchant fraud incident reported in Q2 FY26
Unutilised IPO proceeds stand at INR 2,181.55 million as of December 31, 2025
💼 Action for Investors
The company's transition to PAT profitability and positive EBITDA is a strong signal of operational efficiency and successful cost management. Investors should monitor the sustainability of these margins and the growth trajectory of the financial services segment in upcoming quarters.
MobiKwik Shareholders Approve Appointment of Radhakrishna Nair as Independent Director
One MobiKwik Systems Limited has announced the successful passing of a special resolution to appoint Mr. Radhakrishna Nair as a Non-Executive Independent Director. The resolution was passed via postal ballot with an overwhelming majority of 99.97% votes in favor. A total of 39.35 million votes were polled, representing approximately 50.03% of the total shareholding. This appointment is part of the company's efforts to strengthen its board governance and independent oversight.
Key Highlights
Special resolution for appointment of Radhakrishna Nair passed with 99.9784% majority
Total votes polled were 39,356,833 out of a total 78,658,458 shares (50.03% turnout)
Promoter group and Public Institutions voted 100% in favor of the appointment
Only 8,506 votes (0.0216%) were cast against the resolution by public non-institutional shareholders
The company had 179,851 shareholders on the record date of December 19, 2025
💼 Action for Investors
Investors should view this as a positive step toward robust corporate governance. No immediate portfolio action is required based on this board-level appointment.
MobiKwik Seeks Shareholder Nod for Appointment of Radhakrishna Nair as Independent Director
One MobiKwik Systems has issued a postal ballot notice to seek shareholder approval for the appointment of Mr. Radhakrishna Nair as a Non-Executive Independent Director. The proposed term is for five years, effective from December 17, 2025, to December 16, 2030. The resolution includes a proposed annual remuneration of ₹17,00,000 for the director. Shareholders can cast their votes through a remote e-voting process that concludes on January 21, 2026.
Key Highlights
Appointment of Mr. Radhakrishna Nair for a 5-year term starting December 17, 2025.
Proposed annual remuneration of ₹17,00,000 plus reimbursement of incidental expenses.
Remote e-voting period runs from December 23, 2025, to January 21, 2026.
Cut-off date for determining shareholder voting eligibility was December 19, 2025.
Special resolution includes approval for the director to continue serving beyond the age of 75 years.
💼 Action for Investors
Shareholders should review the appointee's credentials and participate in the e-voting process before the January 21, 2026 deadline. This is a routine governance matter and does not require immediate changes to investment positions.
MobiKwik Appoints Navdeep Singh Suri as Board Chair; Separates Chair and Executive Roles
One MobiKwik Systems has appointed Navdeep Singh Suri, an Independent Director since 2021 and former diplomat, as the new Chairperson of its Board. This strategic move separates the Chairperson's role from executive management, as he succeeds Co-Founder and CFO Upasana Taku. The company currently commands a 19% market share in India's PPI wallet gross transaction value (GTV) as of September 2025. With a massive base of 183.5 million registered users and 4.71 million merchants, this transition is aimed at enhancing corporate governance and institutional maturity.
Key Highlights
Navdeep Singh Suri appointed as Board Chairperson, having served as an Independent Director since 2021.
The appointment separates the Board Chair role from executive management, succeeding Co-Founder Upasana Taku.
MobiKwik holds a 19% market share of the PPI wallet gross transaction value (GTV) as of September 2025.
The company reports a user base of over 183.5 million registered users and 4.71 million merchants.
Mr. Suri brings extensive governance experience from the Indian Foreign Service and roles at SBI Funds International.
💼 Action for Investors
Investors should view this as a positive governance milestone that aligns the company with global best practices by separating board oversight from executive functions. Monitor the company's ability to leverage this institutional maturity to further scale its 19% market share in the digital wallet space.
MobiKwik Appoints Former SEBI ED Radhakrishna Nair to Board; Navdeep Singh Suri Named Chairperson
One Mobikwik Systems Limited has announced a significant strengthening of its board governance by appointing Mr. Radhakrishna Nair as an Independent Director for a five-year term. Mr. Nair brings over 40 years of experience, including senior regulatory roles as Executive Director at SEBI and Member at IRDAI. Additionally, the company has appointed Independent Director Mr. Navdeep Singh Suri as the Chairperson of the Board, replacing co-founder Ms. Upasana Rupkrishan Taku. These moves indicate a strategic shift toward professionalizing board leadership and enhancing regulatory oversight.
Key Highlights
Mr. Radhakrishna Nair appointed as Additional Director (Independent) for a 5-year term until December 16, 2030.
Mr. Navdeep Singh Suri, an Independent Director, replaces co-founder Ms. Upasana Rupkrishan Taku as Board Chairperson.
Mr. Nair possesses over 40 years of experience in banking and served as Executive Director at SEBI and Member at IRDAI.
The Board has approved a Postal Ballot to seek shareholder approval for the new Independent Director appointment.
💼 Action for Investors
Investors should view the addition of a former SEBI and IRDAI official as a positive step for a fintech company navigating complex regulatory landscapes. The transition to an Independent Chairperson further strengthens corporate governance standards.
MobiKwik: Top 3 Fastest-Growing UPI App, 3x YoY Growth in Oct '25
MobiKwik has announced that it is among the top 3 fastest-growing UPI apps in India in Q2FY26. The company's UPI transactions surged 38% QoQ, and UPI GMV increased by 28%. MobiKwik also registered 3x YoY UPI growth in October 2025. Pocket UPI is emerging as a key driver of MobiKwik’s UPI scale, allowing users to make UPI payments directly from their MobiKwik Wallet.
Key Highlights
UPI transactions surged 38% QoQ
UPI GMV increased by 28%
Registered 3x YoY UPI growth in October 2025
MobiKwik has a 19% market share of the PPI wallet gross transaction value (GTV) as of September 2025
Serving 183.5 Mn+ registered users and 4.71 Mn+ merchants
💼 Action for Investors
Investors should monitor MobiKwik's ability to sustain this growth and improve profitability. Watch for further updates on user acquisition and engagement metrics.