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MOBIKWIK - One Mobikwik

📊 NSE: MOBIKWIK 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 10:42

📢 Recent Corporate Announcements

MobiKwik Allots 71,804 Equity Shares Under ESOP 2014 Plan

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Mar 2026, 06:45 PM

One MobiKwik Systems Limited has approved the allotment of 71,804 equity shares of face value ₹2 each following the exercise of stock options under its 2014 ESOP plan. The allotment consists of 68,344 shares at an exercise price of ₹2 and 3,460 shares at ₹34.75. Consequently, the company's paid-up equity capital has increased from ₹15.73 crore to ₹15.74 crore. These new shares will rank pari-passu with existing equity shares, including for dividend entitlements.

Allotment of 71,804 equity shares of face value ₹2 each under the MobiKwik ESOP Plan 2014
Exercise prices fixed at ₹2 for 68,344 shares and ₹34.75 for 3,460 shares
Total paid-up equity capital increased to ₹15,74,60,524 from ₹15,73,16,916
Total outstanding equity shares increased to 7,87,30,262 post-allotment
The new shares carry the same rights as existing shares, including dividend eligibility

💡 This is a routine administrative allotment with negligible equity dilution. No specific action is required from investors based on this announcement.

MobiKwik Receives BSE Approval to Launch Stock Broking Business Effective Feb 24, 2026

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 23 Feb 2026, 11:20 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 23 Feb 2026, 10:59 PM

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.

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.

💡 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 to Conduct Investor Roadshow in Mumbai on February 17, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 12 Feb 2026, 07:03 PM

One MobiKwik Systems Limited has announced an upcoming Investor Roadshow scheduled for February 17, 2026, in Mumbai. The event will consist of one-to-one and group meetings between company officials and institutional investors or analysts. The company has explicitly stated that no unpublished price-sensitive information (UPSI) will be shared during these discussions. This meeting is part of the company's routine investor relations engagement following its regulatory disclosures.

Investor Roadshow scheduled for Tuesday, February 17, 2026, in Mumbai.
Meetings will include both one-to-one and group formats with institutional participants.
Disclosure made in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.
Discussions will be strictly limited to publicly available information.
The schedule is subject to change based on the exigencies of the company or hosts.

💡 No immediate action is required as this is a routine corporate event. Investors may monitor the company's website for any post-event presentations that summarize publicly available data shared during the roadshow.

MobiKwik Achieves PAT Profitability in Q3 FY26; Payments GMV Hits Record ₹481 Billion

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 06 Feb 2026, 07:45 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 06 Feb 2026, 04:52 PM

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.

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.

💡 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 Shares Audio Recording of February 2026 Earnings Call

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 03 Feb 2026, 06:40 PM

One MobiKwik Systems Limited has released the audio recording link for its Earnings Call held on February 03, 2026. This disclosure is a standard regulatory requirement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The recording provides investors and analysts with management's detailed commentary on the company's financial performance and strategic outlook. The link is publicly accessible via the company's official investor relations website.

Earnings call for analysts and investors was successfully conducted on February 03, 2026.
Audio recording of the session has been made available on the company's website under the financial statements section.
The filing complies with SEBI (LODR) Regulations, 2015, ensuring transparency for all stakeholders.
Management commentary in such calls typically covers operational metrics and future growth guidance.

💡 Investors should listen to the recording to better understand management's perspective on recent performance and their responses to specific analyst queries.

MobiKwik Turns PAT Profitable in Q3 FY26 with ₹40 Mn Profit; Payments GMV Up 63% YoY

🟢 POSITIVE ⭐ 9/10

EARNINGS 📅 03 Feb 2026, 12:51 PM

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.

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.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 12:45 PM

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.

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%.

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 12:40 PM

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%.

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

💡 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

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 03 Feb 2026, 12:25 PM

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.

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

💡 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 to Consider Q3 FY26 Results on Feb 03, 2026; Earnings Call Scheduled

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 23 Jan 2026, 05:56 PM

One MobiKwik Systems Limited has announced that its Board of Directors will meet on February 03, 2026, to approve the unaudited financial results for the quarter and nine months ended December 31, 2025. Following the board meeting, the company will host an earnings conference call at 4:00 PM IST on the same day to discuss the financial performance. The trading window for company securities is currently closed and will remain so until February 05, 2026. Top management, including the CEO and CFO, will be present to address queries from analysts and institutional investors.

Board meeting scheduled for February 03, 2026, to approve Q3 and nine-month FY26 results.
Earnings conference call set for February 03, 2026, at 04:00 PM IST.
Trading window for insiders remains closed until February 05, 2026.
Call to be led by MD & CEO Bipin Preet Singh and ED & CFO Upasana Rupkrishan Taku.

💡 Investors should monitor the Q3 results for trends in revenue growth and margins. Participation in the earnings call is advised to gain insights into the company's future growth strategy and market positioning.

MobiKwik Shareholders Approve Appointment of Radhakrishna Nair as Independent Director

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 21 Jan 2026, 07:27 PM

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.

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

💡 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 Submits SEBI Compliance Certificate for Q3 FY26 Dematerialization

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jan 2026, 06:49 PM

One Mobikwik Systems Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended December 31, 2025. The certificate, issued by Registrar MUFG Intime India Private Limited, confirms that all share dematerialization requests were processed within the mandated timelines. It verifies that physical certificates were mutilated and cancelled after due verification, with the depositories' names updated in the register of members. This is a standard administrative filing required for all listed entities in India.

Compliance certificate submitted for the quarter ended December 31, 2025
Issued by Registrar and Transfer Agent MUFG Intime India Private Limited
Confirms dematerialization requests were processed and securities listed on exchanges
Verification and cancellation of physical certificates completed within prescribed timelines

💡 No action is required as this is a routine regulatory filing confirming the company's adherence to standard share processing and dematerialization protocols.

MobiKwik Grants 1,62,000 Stock Options to Employees at Rs 2 Face Value

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Dec 2025, 06:50 PM

One MobiKwik Systems Limited has approved the grant of 1,62,000 stock options to eligible employees under its Employee Stock Option Plan 2014. Each option is convertible into one equity share with a face value of Rs 2, and the exercise price has been set at this face value. This move is a standard corporate practice aimed at talent retention and aligning employee interests with the company's long-term growth. While this will lead to a minor dilution of equity upon exercise, it is a routine administrative update.

Grant of 1,62,000 stock options under the MobiKwik Employee Stock Option Plan 2014
Each option is convertible into one fully paid-up equity share of face value Rs 2
Exercise price is set at the face value of Rs 2 per share
Shares allotted upon exercise of these options will not be subject to any lock-in period
The grant was approved by the Nomination & Remuneration Committee via circular resolution

💡 No immediate action is required as this is a routine ESOP grant. Investors should keep an eye on the total potential equity dilution from the company's various ESOP schemes over the long term.

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💰 Financial Performance

Revenue Growth by Segment

Payments segment gross profit grew from INR 59 Cr to INR 61 Cr (3.4% growth) in Q2 FY2026. UPI GMV grew 28% QoQ, though it generates no revenue. Wallet and bill payments represent 60% of GMV and are the primary revenue drivers.

Geographic Revenue Split

100% of revenue is derived from India, specifically focusing on the 'Bharat' market (Tier 2 and Tier 3 cities).

Profitability Margins

Payments margins improved from 27.9% to 29.4% in Q2 FY2026. Lending margins for credit products like ZIP EMI and MCA are historically between 40-50%. Distribution-only lending margins are lower at approximately 2-3%.

EBITDA Margin

The company is focused on operational discipline to drive EBITDA profitability; fixed costs and employee costs were reduced by approximately 5.7% in the most recent quarter.

Capital Expenditure

Total IPO proceeds of INR 530.517 Cr are being deployed: INR 150 Cr for financial services growth, INR 135 Cr for payment services, INR 107 Cr for R&D, and INR 70.285 Cr for the payment devices business.

⚙️ Operational Drivers

Raw Materials

Technology infrastructure (cloud services), customer acquisition costs (marketing), and capital for lending (DLG and distribution models) represent the primary operational costs.

Import Sources

Primarily domestic (India) for technology services and regulatory partnerships.

Key Suppliers

NBBL (partner for Instant Forex), RBI (Digital Rupee partner), and various banking partners for lending and DLG (Default Loss Guarantee) arrangements.

Capacity Expansion

Registered user base reached 183.5 Mn as of September 30, 2025, with 3.3 Mn new users added in Q2 FY2026. Merchant base stands at 4.71 Mn.

Raw Material Costs

Fixed costs were reduced by 5.7% through automation and operational discipline. IPO proceeds allocate INR 107 Cr (20.2% of total) specifically for technology and product R&D.

Manufacturing Efficiency

Operational efficiency is measured by GMV growth (28% QoQ in UPI) and margin improvement (1.5% increase in payment margins).

Logistics & Distribution

Distribution costs are primarily digital; however, the company is investing INR 70.285 Cr in physical payment devices.

📈 Strategic Growth

Expected Growth Rate

38%

Growth Strategy

Achieving growth through scaling UPI (Top 3 fastest-growing app), expanding high-margin lending (ZIP EMI, MCA), and pioneering new products like Instant Forex and Digital Rupee. The company is also investing INR 107 Cr in AI/ML (Lens.AI) to improve risk scoring and customer engagement.

Products & Services

MobiKwik Wallet, UPI, Pocket UPI, Zaakpay (Payment Gateway), ZIP EMI, MCA (Merchant Credit), Fixed Deposits, Mutual Funds, Digital Gold, Lens.AI, and Instant Forex.

Brand Portfolio

MobiKwik, Zaakpay, Pocket UPI, Lens.AI, ZIP, ZIP EMI.

New Products/Services

Instant Forex (partnership with NBBL), Digital Rupee, and Lens.AI (AI-led financial solutions).

Market Expansion

Targeting 'Bharat' (India's digital finance users) with a focus on high-frequency categories like Retail, Groceries, Food, and Fuel.

Market Share & Ranking

19% market share of PPI wallet gross transaction value (GTV) as of September 2025; ranked among the Top 3 fastest-growing UPI apps.

Strategic Alliances

Partnership with NBBL for Forex and RBI for Digital Rupee rollout.

🌍 External Factors

Industry Trends

Massive shift toward UPI (3x YoY growth in October 2025) which is currently non-revenue generating, forcing fintechs to pivot toward lending and financial product distribution for monetization.

Competitive Landscape

Competes with top 20 TPAPs (Third Party Application Providers) in the UPI ecosystem and other digital wallets.

Competitive Moat

Network effect moat with 183.5 Mn users and 4.71 Mn merchants. Brand trust in 'Bharat' and a 19% share in the PPI wallet market provide sustainable competitive advantages.

Macro Economic Sensitivity

Highly sensitive to Indian consumer spending and digital payment adoption rates in Tier 2/3 cities.

Consumer Behavior

Shift toward high-frequency digital payments in Groceries, Food & Dining, and Fuel.

Geopolitical Risks

Minimal due to domestic focus, though global fintech trends and funding environments impact valuation.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RBI regulations on PPI, Digital Lending, and NPCI circulars regarding UPI MDR and interchange fees for Pocket UPI.

Environmental Compliance

Published Business Responsibility and Sustainability Report (BRSR) for FY 2024-25 in compliance with NGRBC guidelines.

Taxation Policy Impact

Standard Indian corporate tax rates apply; specific fiscal impacts not disclosed.

Legal Contingencies

The company is pursuing recovery for instances of significant fraud; insurance coverage is in place for digital frauds. Specific case values in INR are not disclosed.