Transcript of the Earnings Call held on May 12, 2026
MOBIKWIK · price
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One MobiKwik reported Q4 FY26 as a landmark quarter with back-to-back profitable results. Full year FY26 EBITDA was near break-even at negative INR 5 crores, a massive swing of INR 742 million from FY25's negative INR 794 million. Q4 PAT came in at INR 44 million (INR 81 million excluding INR 37.6 million one-time exceptional charge). Payments GMV hit an all-time high of INR 524 billion in Q4, up 58% YoY for the 13th consecutive quarter of record growth. The company is investing INR 55 crores in new growth engines (merchant payments, NBFC, AI) while maintaining baseline profitability. Management guided for 30-35% GMV growth in both payments and lending for FY27, with EBITDA margins expected in the 5% range despite continued investments.
MobiKwik has demonstrated a successful turnaround with path to sustainable profitability, but investors should note that near-term margins will remain compressed as the company reinvests heavily in merchant payments and NBFC expansion. The stock should benefit from clear evidence of operational improvement and disciplined capital allocation.