One Mobikwik Systems Limited has informed the Exchange about Transcript
MOBIKWIK · price
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MobiKwik reported FY25 payments GMV of Rs. 1,15,000 crore, a 3x jump from Rs. 38,000 crore in FY24, with Q4 GMV at Rs. 33,100 crore and take rate at 0.64%. Net payment margin improved from 13 bps to 15 bps quarter-on-quarter, with gross margin at 23.9%, driven by growth in Pocket UPI and RuPay card. Lending business remains weak due to regulatory changes, but the company expects an inflection in H2 FY26, with steady-state contribution margin of 40% and net take rates of 4-4.5%. Subsidiary ZaakPay received the full PAPG licence from RBI, opening a new growth track in the payment gateway and aggregator space. Management guided overall company margins to recover above 30% as lending normalises and indirect costs (reduced to Rs. 110 crore this quarter) stay under control.
Positive signals for shareholders: management is confident of margin recovery and a lending turnaround in H2 FY26, supported by a fast-growing payments franchise and the upcoming UPI MDR revenue stream. Short-term stock sentiment may remain cautious given two consecutive quarters of negative EBITDA, but the strategic outlook is constructive.