One Mobikwik Systems Limited (MOBIKWIK)
₹228.60 -1.24% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, One Mobikwik's revenue was ₹281 Cr (+3.7% year on year, -2.5% on the previous quarter), and net profit ₹7.6 Cr (against a loss a year earlier); the operating margin was 2.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹281 | +3.7% | -2.5% |
| Operating profit | ₹8.1 | from loss | -19.8% |
| Net profit | ₹7.6 | from loss | +73.9% |
| EPS (₹) | 0.97 | from loss | +73.2% |
| Operating margin | 2.9% | — | — |
MOBIKWIK delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 25.23% of the MOBIKWIK shares traded on NSE were taken to delivery, against the stock's own 20-session average of 25.61%. That is close to its usual level. Volume was 0.1 times its average, well below normal. It closed at a price band (circuit) on 1 session in about the last 20. 116 bulk or block deals were reported in MOBIKWIK in the last 60 days: ₹1,406 Cr bought and ₹1,330 Cr sold.
Delivery in the last 5 sessions: 17.6% · 13.8% · 18.4% · 29.2% · 25.2%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 13 Oct | Buy | Hrti Private Limited | ₹14.06 Cr | ₹239.79 | 586,243 | Bulk |
| 13 Oct | Sell | Hrti Private Limited | ₹13.61 Cr | ₹239.61 | 567,990 | Bulk |
| 9 Oct | Buy | Hrti Private Limited | ₹45.22 Cr | ₹254.18 | 1,779,168 | Bulk |
| 9 Oct | Sell | Hrti Private Limited | ₹42.55 Cr | ₹255.26 | 1,666,786 | Bulk |
| 9 Oct | Buy | Qe Securities Llp | ₹37.08 Cr | ₹255.69 | 1,450,341 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
One MobiKwik Systems Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by the company's Registrar and Transfer Agent, MUFG Intime India Private Limited, on October 3, 2026. The RTA confirmed that all securities received for dematerialisation during the quarter were processed, mutilated, and cancelled within the prescribed timelines, and depositories were registered accordingly. This is a standard quarterly regulatory submission with no financial or operational impact.
- Regulation 74(5) compliance confirmed for the quarter ended September 30, 2026
- Confirmation certificate issued by RTA MUFG Intime India Private Limited on October 3, 2026
- Submission made to NSE and BSE on October 12, 2026
- Security certificates verified, mutilated, and cancelled as per statutory timelines
Promoter and Executive Director Upasana Rupkrishan Taku acquired 1,07,000 equity shares of One MobiKwik Systems via open market purchases on NSE across two tranches. She bought 52,000 shares worth ₹1.04 Cr on September 28, 2026, and 55,000 shares worth ₹1.09 Cr on September 29, 2026. Following these transactions, her direct shareholding increased from 79,57,670 shares to 80,64,670 shares. The total purchase value of ₹2.12 Cr represents about 0.14% of the company's market cap of ₹1,563 Cr.
- Promoter acquired 1,07,000 equity shares through open market purchases on NSE
- Tranche 1: 52,000 shares acquired on 28/09/2026 for ₹1,03,64,826.71
- Tranche 2: 55,000 shares acquired on 29/09/2026 for ₹1,08,76,347.29
- Promoter's post-acquisition holding increased to 80,64,670 shares
One MobiKwik Systems Limited has received consideration for the slump sale of its Lending Services Provider (LSP) business to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited (MDSPL). The consideration was discharged on September 28, 2026, via the allotment of 14,71,07,912 unrated, unlisted, unsecured, redeemable NCDs of face value ₹10 each, totaling ₹147.11 crore. This consideration equals ~13.0% of MobiKwik's TTM revenue (₹1,129 crore) and ~26.2% of its net worth (₹562 crore). The valuation is based on the book value of assets and liabilities of the LSP business as of the appointed date of August 18, 2026.
- Slump sale consideration of ₹1,47,10,79,126 discharged via NCD allotment
- Allotment of 14,71,07,912 unrated, unlisted, unsecured, redeemable NCDs of face value ₹10 each
- Appointed date for determining book value of assets and liabilities was August 18, 2026
- Transaction executed between parent MobiKwik and its 100% subsidiary MDSPL
One MobiKwik Systems Limited has announced the closure of its trading window for designated persons and insiders starting October 01, 2026. The closure is pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 for the upcoming un-audited financial results for the quarter ending September 30, 2026. The window will reopen 48 hours after the declaration of the financial results. The exact date of the board meeting to consider the results will be intimated in due course.
- Trading window closes effective October 01, 2026
- Closure pertains to financial results for the quarter ending September 30, 2026
- Trading restrictions remain in place until 48 hours post result declaration
- Board meeting date to be intimated separately
One MobiKwik Systems Limited concluded its 18th Annual General Meeting on September 22, 2026, passing all resolutions with over 99.9% majority. Shareholders approved the audited standalone and consolidated financial statements for FY26 with 99.9928% assent. Additionally, the re-appointment of Mr. Vineet Bansal as a director retiring by rotation was cleared with 99.9880% approval. A total of 3,46,66,053 valid votes were cast across the resolutions.
- Adoption of FY26 financial statements approved with 99.9928% votes in favour (3,46,63,563 shares)
- Re-appointment of Director Vineet Bansal approved with 99.9880% votes in favour (3,46,61,877 shares)
- Total of 3,46,66,053 valid votes cast through remote e-voting and AGM e-voting
- AGM attended by 65 members holding 1,98,37,226 equity shares via Video Conferencing
One Mobikwik Systems Limited informed the exchange of the resignation of Independent Director Raghu Ram Hiremagalur Venkatesh (DIN: 09202812), effective September 18, 2026. The director cited pre-occupation with other professional commitments requiring increasing attention and time. The resignation letter confirmed that there are no other material reasons for stepping down. The company recently reported Q1 FY27 revenue of Rs 281.48 Cr and net profit of Rs 7.62 Cr against an annual FY26 net loss of Rs 62.11 Cr.
- Independent Director Raghu Ram Hiremagalur resigned on September 18, 2026
- Resignation is effective immediately from the date of the letter (September 18, 2026)
- Director confirmed no material reasons other than pre-occupation with other professional commitments
- Director DIN cited in document: 09202812
One MobiKwik Systems Limited announced the resignation of Mr. Raghu Ram Hiremagalur Venkatesh as Non-Executive Independent Director, effective September 18, 2026. The director cited pre-occupation with other professional commitments, confirming there are no other material reasons. The resignation does not directly impact daily operations, but the board will need to maintain requisite independent director representation under SEBI LODR norms. The company reported a TTM revenue of ₹1,129 Cr and a market cap of ₹1,670 Cr.
- Resignation of Non-Executive Independent Director Raghu Ram Hiremagalur Venkatesh effective September 18, 2026
- Reason cited as pre-occupation with other professional commitments
- Confirmation provided that there are no other material reasons for departure
- Director held directorship in nil other listed entities
NPCI has issued a circular introducing a Merchant Discount Rate (MDR) of up to 0.4% on UPI Person-to-Merchant (P2M) transactions exceeding ₹2,000, effective October 15, 2026. This is structurally positive for One MobiKwik Systems, which previously generated zero revenue on UPI (despite UPI comprising ~40% of its GMV). The company expects to monetize transactions both as a Third-Party Application Provider (TPAP) on consumer UPI GMV and as an acquirer on merchant GMV. Transactions will remain free for consumers, preventing user attrition.
- NPCI introduces MDR of upto 0.4% on UPI P2M transactions exceeding ₹2,000
- Circular takes effect from October 15, 2026
- MobiKwik to earn revenue as both a TPAP and merchant acquirer on eligible GMV
- Zero charges permitted on consumers, keeping UPI free for retail users
One MobiKwik Systems has expanded its FX Retail offering from one to six currencies (adding AED, CAD, GBP, EUR, and CHF to USD) via its partnership with NPCI Bharat BillPay Limited (NBBL). Users can transact up to USD 3,000 equivalent for physical currency notes and USD 10,000 equivalent for forex cards and remittances. NBBL processed ₹111.91 million in Forex transactions during the first 4 months of FY27 across participating platforms. This move enhances MobiKwik's non-UPI, cross-selling portfolio across its 193 million registered users.
- Expanded offering from 1 currency (USD) to 6 currencies (added AED, CAD, GBP, EUR, CHF)
- Transaction limits set up to USD 3,000 for notes and USD 10,000 for cards and remittance services
- NBBL processed ₹111.91 million worth of Forex transactions in the first 4 months of FY2026–27
- Platform caters to 193 million registered users and 5.02 million merchants with a 19% PPI wallet market share
One MobiKwik Systems Limited announced that company officials will participate in institutional investor meetings in Mumbai in September 2026. The company will attend 'Ashwamedh - Elara India Dialogue 2026' organized by Elara Capital on September 01, 2026, followed by a Non-Deal Roadshow on September 02 and September 03, 2026. Both events will involve physical one-to-one and group meetings. The management affirmed that only publicly available information will be discussed with no unpublished price-sensitive information shared.
- Attending 'Ashwamedh - Elara India Dialogue 2026' organized by Elara Capital on September 01, 2026
- Participating in a physical Non-Deal Roadshow in Mumbai on September 02 and September 03, 2026
- Meetings will comprise both one-to-one and group formats
- Company confirmed no unpublished price-sensitive information (UPSI) will be disclosed
One MobiKwik Systems Limited has issued a statutory communication to shareholders whose email addresses are not registered with the Company or Depository Participants as of the cut-off date of August 14, 2026. The communication provides web links to access the 18th Annual General Meeting (AGM) notice and the Annual Report for FY 2025-26. The 18th AGM is scheduled to be held on Tuesday, September 22, 2026, at 11:00 AM IST via Video Conferencing. The filing also includes standard reminders for shareholders to update KYC details in line with SEBI regulations.
- 18th Annual General Meeting scheduled for Tuesday, September 22, 2026, at 11:00 AM IST via Video Conferencing
- Shareholder email record cut-off date fixed as Friday, August 14, 2026
- Shared direct web links for accessing the FY 2025-26 Annual Report and AGM Notice pursuant to SEBI Listing Regulations
- Reminded physical mode security holders to update mandatory KYC details per SEBI circular dated May 07, 2024
One MobiKwik Systems Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 as part of its Annual Report disclosures under SEBI LODR regulations. The report details operational metrics, showing payment services contributed 73% and financial services 23% to turnover. Total workforce stood at 2,759 personnel (789 permanent and 1,970 non-permanent). The company reported zero data breaches and handled 85,175 customer complaints during FY26, down from 128,717 in FY25, with 159 pending resolution at year-end.
- Payment services and financial services contributed 73% and 23% of total turnover respectively in FY26
- Total headcount stood at 2,759 (789 permanent and 1,970 non-permanent employees)
- Customer complaints decreased to 85,175 in FY26 compared to 128,717 in FY25, with 159 complaints pending
- Reported zero instances of cybersecurity data breaches or leaks of customer personally identifiable information
- Paid-up share capital reported at ₹15.75 Cr (₹15,74,60,524)
One MobiKwik Systems Limited has issued its Annual Report for FY 2025-26 along with the notice for its 18th Annual General Meeting scheduled for September 22, 2026. The remote e-voting window is set from September 19 to September 21, 2026, with the record cut-off date on September 15, 2026. In the accompanying annual overview, the company highlighted its user base reaching 189.6 Mn+, merchant base reaching 4.92 Mn+, and a 90% YoY increase in Payments gross profit to ₹2,867 Mn. Additionally, the company noted RBI approval for its NBFC application obtained in April 2026.
- 18th Annual General Meeting to be held via Video Conferencing on September 22, 2026
- Cut-off date for remote e-voting set as September 15, 2026; voting open September 19-21, 2026
- User network expanded to 189.6 Mn+ registered users and 4.92 Mn+ merchant partners across 1,118 cities
- Payments gross profit grew 90% YoY to ₹2,867 Mn in FY26, with net payment margin at 16 bps
- Financial Services gross margin expanded sharply from 4% in Q4 FY25 to 59% in Q4 FY26
One MobiKwik Systems has completed the transfer of its digital lending (LSP) business and associated staff to wholly owned subsidiary MobiKwik Distribution Services Private Limited (MDSPL), post infusing ₹60.85 crore in equity. This restructuring satisfies the Reserve Bank of India's pre-condition set in April 2026 to grant the NBFC Certificate of Registration (CoR). The company appointed Manish Pathania (former Bajaj Markets digital lending head) as Chief Business Officer of MDSPL. MobiKwik reported a 459% YoY jump in Financial Services Gross Profit in Q1 FY27 and is targeting quarterly loan disbursals of ₹1,000+ crore.
- Infused ₹60.85 crore equity into wholly-owned subsidiary MDSPL to house entire digital lending operations
- Fulfills key RBI pre-condition to secure its NBFC Certificate of Registration (CoR)
- Targeting ₹1,000+ crore quarterly loan disbursals in upcoming quarters, backed by AI initiatives and new lender tie-ups
- Reported 459% YoY growth in Financial Services Gross Profit for Q1 FY27
- Appointed Manish Pathania (ex-Bajaj Markets) as Chief Business Officer to head MDSPL
One MobiKwik Systems Limited has completed the transfer of its Lending Services Provider (LSP) business to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited (MDSPL), effective August 18, 2026. The slump sale consideration will be discharged through the issuance of Non-Convertible Debentures (NCDs) by MDSPL based on the book value of assets and liabilities as of the appointed date. Because the transfer is internal to a 100% subsidiary, there is no direct impact on consolidated financial figures (TTM revenue of ₹1,129 Cr).
- Completed slump sale of Lending Services Provider (LSP) business effective August 18, 2026.
- Transferee MDSPL is a 100% wholly owned subsidiary (formerly Mobikwik Credit Private Limited).
- Consideration to be settled via Non-Convertible Debentures (NCDs) based on book value of net assets.
- Follows initial board and shareholder approvals initiated on May 22, 2026 and June 02, 2026.
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.
Risk Analysis
Key Uncertainties
Regulatory uncertainty regarding UPI monetization (MDR) could impact the revenue potential of 40% of current GMV.
Geographic Concentration Risk
100% revenue concentration in India.
Third Party Dependencies
High dependency on NPCI for UPI infrastructure and NBBL for Forex services.
Technology Obsolescence Risk
Mitigated by INR 107 Cr investment in AI and ML to stay ahead of fintech disruption.
Credit & Counterparty Risk
Exposure to credit risk in the lending business, particularly in DLG (Default Loss Guarantee) models versus distribution-only models.
