One Mobikwik Systems Ltd (MOBIKWIK) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- Management guides for an FY28 PAT of INR 100 crores, assuming the implementation of UPI MDR adds INR 20-25 crores to the bottom line.
- The upcoming NBFC will operate an asset-light, co-lending model, aiming to fund ~10% of total group disbursements on its own book.
- The company is strategically pivoting its UPI business to focus on transactions above INR 2,000, sacrificing short-term volume for future MDR revenue.
Performance Overview
- One Mobikwik Systems Ltd posted its fourth consecutive profitable quarter, achieving its highest-ever PAT and EBITDA.
- Company reports strong GMV growth in both payments and lending verticals, alongside expanding contribution margins.
- Lending disbursements crossed the INR 1,000 crore mark, driven by the onboarding of new lending partners.
- Management signaled a deliberate investment phase in talent to support new growth areas like merchant payments and the forthcoming NBFC.
- The firm is actively preparing for the anticipated implementation of UPI MDR, expecting it to be a significant tailwind for revenue and profitability.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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