One Mobikwik Systems Limited — Q2FY27 earnings call summary

Filed 05 November 2026 · Official transcript

Fixed costs rising due to investment phase; expected to decline as % of revenue
Q2 FY27 total income INR 302 Cr +8% y-y; EBITDA INR 22.7 Cr +44% q-q; PAT INR 11.8 Cr +55% q-q
UPI MDR expected to add INR 100 Cr revenue in FY28; ~20-25% flows to EBITDA
Lending disbursal INR 1,083 Cr in Q2; 11 active partners; strong double-digit growth expected
NBFC plans: start co-lending with 10% on-book exposure; asset-light model
Merchant Payments GMV +76% y-y; revenue +150% y-y; net margin 3.4 bps
Multiple analyst queries on UPI MDR impact and lending economics; mgmt confident on growth and margin expansion
GMV growth ~34-35% y-y in payments and lending; contribution profit +50%