One 97 Communications Ltd.
PAYTMFinancial Services filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
18 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 18 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20220524 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220809 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221111 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230210 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230511 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230726 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231026 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240124 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240528 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240726 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241029 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250127 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250512 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250728 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251108 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260204 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260512 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260727 | 2026-06-30 | yes |
PAYTM
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 1,735.50 |
| 52-week range | 959.0 – 1849.9 |
| Return 1M | 1.02% |
| Return 3M | 54.29% |
| Return 1Y | 49.33% |
| Return 3Y | 104.55% |
| Return 5Y | not reported for this period |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 2,448.00 |
| Other income | 182.00 |
| Total income | 2,630.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 742.00 |
| Finance costs | 7.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | not disclosed | — |
| institutions foreign | 0.48 | -0.01 |
| institutions domestic | 0.25 | 0.02 |
| mutual funds | 0.18 | 0.01 |
| public | 1.00 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| TRANSCRIPT | 2026-06-30 | 18 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,914.00 | 206.00 | 2,334.00 | 2,342.00 | 252.00 | 2,850.00 | 2,267.00 | 1,502.00 | 1,660.00 | 1,828.00 | 1,912.00 | 1,918.00 | 2,061.00 | 2,194.00 | 2,264.00 | 2,448.00 |
| Other income | 100.00 | 8.00 | 130.00 | 123.00 | 14.00 | 149.00 | 132.00 | 138.00 | 174.00 | 189.00 | 224.00 | 241.00 | 222.00 | 212.00 | 178.00 | 182.00 |
| Total income | 2,014.00 | 214.00 | 2,465.00 | 2,464.00 | 266.00 | 2,999.00 | 2,399.00 | 1,639.00 | 1,834.00 | 2,016.00 | 2,135.00 | 2,159.00 | 2,283.00 | 2,406.00 | 2,442.00 | 2,630.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 944.00 | 95.00 | 977.00 | 1,106.00 | 119.00 | 1,187.00 | 1,104.00 | 952.00 | 831.00 | 756.00 | 748.00 | 643.00 | 663.00 | 721.00 | 739.00 | 742.00 |
| Finance costs | 5.00 | 1.00 | 7.00 | 7.00 | 1.00 | 5.00 | 5.00 | 4.00 | 3.00 | 4.00 | 4.00 | 4.00 | 5.00 | 4.00 | 5.00 | 7.00 |
| Depreciation and amortisation | 104.00 | 12.00 | 160.00 | 159.00 | 18.00 | 201.00 | 196.00 | 178.00 | 179.00 | 165.00 | 150.00 | 166.00 | 137.00 | 133.00 | 132.00 | 131.00 |
| Other expenses | 1,508.00 | 145.00 | 1,487.00 | 1,528.00 | 156.00 | 1,823.00 | 1,386.00 | 1,341.00 | 1,232.00 | 1,294.00 | 1,252.00 | 1,203.00 | 1,257.00 | 1,317.00 | 1,393.00 | 1,503.00 |
| Total expenses | 2,561.00 | 252.00 | 2,630.00 | 2,800.00 | 294.00 | 3,216.00 | 2,691.00 | 2,476.00 | 2,245.00 | 2,220.00 | 2,155.00 | 2,016.00 | 2,062.00 | 2,175.00 | 2,269.00 | 2,383.00 |
| Profit before exceptional items and tax | -548.00 | -38.00 | -166.00 | -336.00 | -27.00 | -217.00 | -293.00 | -837.00 | -411.00 | -203.00 | -20.00 | 143.00 | 221.00 | 231.00 | 173.00 | 247.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | -1.00 | 0.00 | -227.00 | 0.00 | 1,345.00 | 0.00 | -522.00 | -17.00 | -190.00 | 0.00 | 21.00 | 0.00 |
| Profit before tax | -548.00 | -38.00 | -166.00 | -336.00 | -28.00 | -217.00 | -520.00 | -837.00 | 935.00 | -203.00 | -542.00 | 126.00 | 31.00 | 231.00 | 194.00 | 247.00 |
| Current tax | 13.00 | 2.00 | 0.00 | 6.00 | 1.00 | 2.00 | 16.00 | 1.00 | 9.00 | 8.00 | 1.00 | 4.00 | 9.00 | 8.00 | -2.00 | 27.00 |
| Deferred tax | 2.00 | -0.00 | -1.00 | -1.00 | 0.00 | -1.00 | -2.00 | 1.00 | -0.00 | -3.00 | 2.00 | -0.00 | 0.00 | -3.00 | 13.00 | 0.00 |
| Tax expense | 14.00 | 2.00 | -1.00 | 4.00 | 1.00 | 1.00 | 14.00 | 2.00 | 9.00 | 5.00 | 3.00 | 4.00 | 9.00 | 5.00 | 11.00 | 27.00 |
| Profit for the period | -572.00 | -39.00 | -168.00 | -358.00 | -29.00 | -222.00 | -550.00 | -840.00 | 930.00 | -208.00 | -545.00 | 122.00 | 21.00 | 225.00 | 183.00 | 220.00 |
| Profit attributable to owners | -571.00 | -39.00 | -168.00 | -357.00 | -29.00 | -220.00 | -550.00 | -839.00 | 928.00 | -208.00 | -540.00 | 122.00 | 21.00 | 225.00 | 184.00 | 220.00 |
| Profit attributable to non-controlling interests | -0.00 | -0.00 | 1.00 | -1.00 | -0.00 | -2.00 | -1.00 | -1.00 | 2.00 | -0.00 | -5.00 | 0.00 | 0.00 | 0.00 | -1.00 | 0.00 |
| Other comprehensive income | -23.00 | 30.00 | -1.00 | -95.00 | -1.00 | 64.00 | 228.00 | -67.00 | 719.00 | 397.00 | 1.00 | -3.00 | 101.00 | 41.00 | 153.00 | -2.00 |
| Total comprehensive income | -594.00 | -9.00 | -169.00 | -453.00 | -30.00 | -158.00 | -322.00 | -907.00 | 1,649.00 | 189.00 | -544.00 | 120.00 | 122.00 | 266.00 | 336.00 | 218.00 |
| Earnings per share, basic | -9.00 | -6.00 | -3.00 | -6.00 | -5.00 | -3.00 | -9.00 | -13.00 | 14.59 | -3.27 | -8.47 | 1.92 | 0.33 | 3.52 | 2.87 | 3.44 |
| Earnings per share, diluted | -9.00 | -6.00 | -3.00 | -6.00 | -5.00 | -3.00 | -9.00 | -13.00 | 14.29 | -3.27 | -8.47 | 1.89 | 0.32 | 3.46 | 2.83 | 3.40 |
Annual results, as filed
| Line | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|
| Revenue from operations | 4,974.00 | 7,990.00 | 9,978.00 | 6,900.00 | 8,437.00 |
| Other income | 290.00 | 410.00 | 547.00 | 724.00 | 854.00 |
| Total income | 5,264.00 | 8,400.00 | 10,525.00 | 7,625.00 | 9,291.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 2,432.00 | 3,778.00 | 4,589.00 | 3,288.00 | 2,765.00 |
| Finance costs | 39.00 | 23.00 | 24.00 | 16.00 | 18.00 |
| Depreciation and amortisation | 247.00 | 485.00 | 736.00 | 673.00 | 568.00 |
| Other expenses | 4,882.00 | 5,844.00 | 6,295.00 | 5,119.00 | 5,170.00 |
| Total expenses | 7,601.00 | 10,130.00 | 11,645.00 | 9,096.00 | 8,521.00 |
| Profit before exceptional items and tax | -2,337.00 | -1,730.00 | -1,120.00 | -1,471.00 | 770.00 |
| Exceptional items | -2.00 | 0.00 | -233.00 | 823.00 | -186.00 |
| Profit before tax | -2,339.00 | -1,730.00 | -1,353.00 | -648.00 | 584.00 |
| Current tax | 15.00 | 35.00 | 35.00 | 18.00 | 20.00 |
| Deferred tax | -4.00 | -2.00 | -3.00 | -0.00 | 10.00 |
| Tax expense | 11.00 | 34.00 | 32.00 | 18.00 | 30.00 |
| Profit for the period | -2,396.00 | -1,776.00 | -1,422.00 | -663.00 | 552.00 |
| Profit attributable to owners | -2,393.00 | -1,776.00 | -1,417.00 | -659.00 | 553.00 |
| Profit attributable to non-controlling interests | -4.00 | -1.00 | -5.00 | -4.00 | -1.00 |
| Other comprehensive income | 955.00 | 208.00 | 190.00 | 1,050.00 | 291.00 |
| Total comprehensive income | -1,442.00 | -1,568.00 | -1,233.00 | 387.00 | 843.00 |
| Earnings per share, basic | -38.00 | -27.00 | -22.00 | -10.35 | 8.66 |
| Earnings per share, diluted | -38.00 | -27.00 | -22.00 | -10.35 | 8.55 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 17,977.00 | 17,966.00 | 1,915.00 | 17,139.00 | 18,205.00 | 21,448.00 | 22,537.00 | 23,915.00 |
| Non-current assets | 5,394.00 | 3,977.00 | 657.00 | 4,975.00 | 5,679.00 | 4,363.00 | 5,378.00 | 4,574.00 |
| Current assets | 12,583.00 | 13,989.00 | 1,258.00 | 12,164.00 | 12,526.00 | 17,084.00 | 17,159.00 | 19,341.00 |
| Property, plant and equipment | 642.00 | 829.00 | 96.00 | 931.00 | 689.00 | 645.00 | 604.00 | 645.00 |
| Capital work-in-progress | 8.00 | 7.00 | 1.00 | 10.00 | 6.00 | 4.00 | 6.00 | 7.00 |
| Goodwill | 44.00 | 44.00 | 4.00 | 44.00 | 10.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 320.00 | 335.00 | 31.00 | 272.00 | 260.00 | 244.00 | 234.00 | 261.00 |
| Inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Trade receivables | 1,094.00 | 1,253.00 | 124.00 | 1,651.00 | 1,338.00 | 1,297.00 | 1,202.00 | 1,186.00 |
| Cash and cash equivalents | 1,708.00 | 3,312.00 | 215.00 | 4,277.00 | 2,650.00 | 2,077.00 | 1,835.00 | 3,285.00 |
| Total equity and liabilities | 17,977.00 | 17,966.00 | 1,915.00 | 17,139.00 | 18,205.00 | 21,448.00 | 22,537.00 | 23,915.00 |
| Equity | 13,564.00 | 12,993.00 | 1,303.00 | 13,298.00 | 14,508.00 | 14,997.00 | 15,310.00 | 16,028.00 |
| Equity share capital | 65.00 | 63.00 | 6.00 | 64.00 | 64.00 | 64.00 | 64.00 | 64.00 |
| Other equity | 13,522.00 | 12,952.00 | 1,299.00 | 13,263.00 | 14,468.00 | 14,963.00 | 15,276.00 | 15,962.00 |
| Total liabilities | 4,413.00 | 4,973.00 | 612.00 | 3,841.00 | 3,697.00 | 6,451.00 | 7,227.00 | 7,887.00 |
| Non-current liabilities | 536.00 | 486.00 | 41.00 | 325.00 | 315.00 | 264.00 | 301.00 | 291.00 |
| Current liabilities | 3,878.00 | 4,487.00 | 571.00 | 3,515.00 | 3,383.00 | 6,186.00 | 6,926.00 | 7,596.00 |
| Borrowings, non-current | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings, current | 2.00 | 2.00 | 0.00 | 0.00 | 0.00 | 5.00 | 15.00 | 0.00 |
| Trade payables | 824.00 | 859.00 | 85.00 | 684.00 | 748.00 | 741.00 | 816.00 | 889.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 154.00 | 416.00 | 77.00 | 651.00 | -390.00 | -121.00 | 44.00 | -743.00 |
| Net cash from investing activities | 208.00 | 2,626.00 | -192.00 | 318.00 | -1,213.00 | -2,043.00 | -373.00 | 1,719.00 |
| Net cash from financing activities | -34.00 | -1,112.00 | -2.00 | -22.00 | -29.00 | -53.00 | -24.00 | -50.00 |
| Purchase of property, plant and equipment | 316.00 | 705.00 | 48.00 | 822.00 | 92.00 | 322.00 | 202.00 | 479.00 |
| Net increase in cash | 327.00 | 1,931.00 | -116.00 | 967.00 | -1,628.00 | -2,205.00 | -252.00 | 1,213.00 |
| con:CFO.BEFORE_TAX | 258.00 | 592.00 | 85.00 | 759.00 | -468.00 | -139.00 | 23.00 | -710.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 104.00 | 176.00 | 9.00 | 108.00 | -78.00 | -18.00 | -21.00 | 33.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 5.00 | 8.00 | 0.00 | 10.00 | 4.00 | 5.00 | 6.00 | 11.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 2,001.00 | 2,004.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | — |
| Domestic institutions | 3.19 | 3.54 | 4.06 | 6.06 | 6.86 | 7.15 | 8.49 | 11.88 | 14.02 | 15.83 | 0.20 | 0.20 | 0.23 | 0.25 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 13.86 | 0.16 | 0.14 | 0.17 | 0.18 |
| Insurance companies | 0.11 | 0.43 | 0.51 | 0.40 | 0.04 | 0.04 | 0.08 | 0.15 | 0.45 | 1.42 | 0.03 | 0.05 | 0.05 | 0.05 |
| Foreign institutions | 71.83 | 72.12 | 60.92 | 63.72 | 60.40 | 58.24 | 55.53 | 56.20 | 55.38 | 54.87 | 0.52 | 0.52 | 0.49 | 0.48 |
| Public | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Non-institutional | 24.98 | 24.34 | 35.02 | 30.21 | 32.74 | 34.61 | 35.98 | 31.92 | 30.60 | 29.30 | 0.28 | 0.28 | 0.28 | 0.27 |
| Shares outstanding | 633788217 | 634178681 | 634369866 | 634822717 | 635413773 | 635992696 | 636639355 | 637382630 | 637845483 | 638102551 | 638663460 | 639539256 | 640045681 | 640337006 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Orbgen Technologies Private Limited | Subsidiary | Any other transaction, Purchase of goods or services | 11,621,310,000.00 | 9 |
| Directors, Key Management Personnel (KMP) & Relatives of | Directors, KMP & Relatives of | Any other transaction | 5,361,580,000.00 | 11 |
| Fincollect Services Private Limited | Step down Subsidiary | Any other transaction, Purchase of goods or services | 1,244,410,000.00 | 6 |
| Wasteland Entertainment Private Limited | Subsidiary | Any other transaction, Purchase of goods or services | 1,063,730,000.00 | 7 |
| Paytm Money Limited | Subsidiary | Any other transaction, Inter-corporate deposit, Inte | 958,930,000.00 | 10 |
| Paytm Services Private Limited | Subsidiary | Any other transaction, Purchase of goods or services | 838,690,000.00 | 9 |
| Paytm Payments Services Limited | Subsidiary | Any other transaction, Purchase of goods or services | 696,900,000.00 | 8 |
| PAI Platforms Private Limited (formerly known as Paytm E-Com | Common director having shareholdin | Any other transaction, Purchase of goods or services | 465,430,000.00 | 8 |
| Riot Labz Private Limited | Others | Purchase of goods or services | 289,370,000.00 | 1 |
| First Games Technology Private Limited (formerly known as Pa | Joint Venture of Subsidiary | Any other transaction, Inter-corporate deposit, Inte | 121,120,000.00 | 10 |
| One97 Communications FZ-LLC | Subsidiary | Any other transaction, Purchase of goods or services | 98,890,000.00 | 4 |
| AGTech Media Holdings Limited | Related party that exercise joint | Any other transaction, Interest paid | 86,720,000.00 | 4 |
| One 97 Communications India Limited | Subsidiary | Any other transaction, Inter-corporate deposit, Inte | 77,200,000.00 | 8 |
| Urja Money Private Limited | Subsidiary | Any other transaction, Inter-corporate deposit, Inte | 73,480,000.00 | 9 |
| Mobiquest Mobile Technologies Private Limited | Subsidiary | Any other transaction, Purchase of goods or services | 72,720,000.00 | 7 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-07-27 | Q1FY27 | Read the call | |
| 2026-05-12 | Q4FY26 | Read the call | |
| 2026-02-04 | Q3FY26 | Read the call | |
| 2025-11-08 | Q2FY26 | Read the call | |
| 2025-07-28 | Q1FY26 | Read the call | |
| 2025-05-12 | Q4FY25 | Read the call | |
| 2025-01-27 | Q3FY25 | Read the call | |
| 2024-10-29 | Q2FY25 | Read the call | |
| 2024-07-26 | Q1FY25 | Read the call | |
| 2024-05-28 | Q4FY24 | Read the call | |
| 2024-01-24 | Q3FY24 | Read the call | |
| 2023-10-26 | Q2FY24 | Read the call | |
| 2023-07-26 | Q1FY24 | Read the call | |
| 2023-05-11 | Q4FY23 | Read the call | |
| 2023-02-10 | Q3FY23 | Read the call | |
| 2022-11-11 | Q2FY23 | Read the call | |
| 2022-08-09 | Q1FY23 | Read the call | |
| 2022-05-24 | Q4FY22 | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | — | If I can basically squeeze one more question, is on your capex. | We are not in device deployment, rental device as a business model, capex as a revenue model. | — | Last year it grew 200% year-on-year so clearly it won't grow at that level but you should expect that Capex translating into depreciation will be a fa… | — | — | Part of that is because we are getting more efficient at acquiring customers, at our capex per device, as well as retention of merchants. |
| Capital allocation | And we have been able to do it very prudently and our focus is on acquiring strictly monetizable incremental user, which means that we've been able to… | So, our acquiring will add it to the consumer acquisition is what our belief is and that is why we will aggressively expand on our merchant acquiring,… | Customer acquisition is still the game in the market. | We have also disclosed the April numbers separately, and currently stand at about 71 million and this is roughly equally driven by the growth in new u… | Is it purely seasonal or is there something more to begin with because our MTU and devices and all other things are growing and customer acquisition i… | On the devices side, we have started acquisition of new merchants and are focusing on activation of inactive merchants. | Firstly, when I look at, let's say, the business, the merchant side of the business seems to be doing really well, whether it's merchant acquisition, … | You don't have any management control there, but in terms of just any early impact on your listed entity OCL, just because you share a common brand in… |
| Costs | — | — | — | — | — | Our largest indirect cost is of course people cost and we're expecting annualized people cost savings of Rs 400 to 500 crores, going forward. | — | — |
| Debt and cash | — | — | — | — | So what would be the timelines for achieving the free cash flow breakeven for you? | — | — | I don't know if you're deploying working capital towards instant settlement, and then, of course, you have UPI credit and EMI. |
| Demand | And we have even a few more in the pipeline and in -- continued in next year, you will see tons of our multiple device formats serving different, diff… | — | — | I do believe if the rates were to further go up by let's say, 100 basis points, we could see maybe 25 basis or 50 basis point increase of rates to the… | But what we've seen is that both due to our expansion in geography, the demand for a product like Sound Box in Tier III and Tier IV cities is also ver… | So, I would say just a little bit of wait and watch and give us some time to just make sure that, and there could also potentially be some signals of,… | And I can say that we believe that there is demand and supply in the market based on the credit cycle. | — |
| Guidance | We expect, because of the very strong momentum that we have across several businesses that we'll talk about as well as operating leverage, that EBITDA… | On the merchant loan side, we expect continuously steady growth. | And within six months of launch, we expect to cross hundred crores of disbursal. | So basically, UPI finally has started to get monetized for us as a Company in terms of how we expected it too and how we see it being scaled in the ne… | So there has been a continued expansion in our EBITDA and as Vijay mentioned, other than some extraordinary circumstances we expect to be EBITDA posit… | April was the worst and May has now started to stabilize at least on a daily transacting user basis and we expect this to stay stable. | I think at least the way we are running the business is that we expect UPI incentive to remain low going forward, especially as we just said, once the… | So how much of the guidance acceleration in F-27 is just a function of marketing services revenue growth recovering, versus you probably also seeing a… |
| Margin | Contribution margin was at 51%, which has expanded 2% year-on-year. | Pranav, I'll also add one extra line that, we get extra bps, which is significant extra bps and it does include a payment margin between other instrum… | But at the same time, you also talk about contribution margin going from 57 percent now to mid 50s as a result of the PIDF impact. | It's important to note that in payments, which is our primary bet, we believe that we will be able to earn all its costs and achieve a better contribu… | I'm very happy that we have announced our second successive and continued quarter of EBITDA profitability before ESOP. | For the full year results, we achieved the first full year of EBITDA profitability since IPO at Rs 559 crores. | Good day, management and congrats on adjusted EBITDA break-even. | And maybe a related question also on the EBITDA margins. |
| People | — | — | — | We do believe that our current headcount is sufficient to support our growth plans for next year. | — | This was due to higher attrition in February and March and also because we were not doing new merchant addition, which normally would offset at least … | — | — |
| Pricing | Jigar, it's a bit of a tactical play on pricing. | — | And that also goes into pricing versus retention benefits, versus lending propensity benefits. | I believe that payment is giving way to those customers and small businesses and merchants who did not have access, but deserved credit - meaning peop… | No, actually it is increasing the opportunity for us because more merchants will take our Sound Box given the product maturity and our product pricing… | — | And instead of being aggressive, we let it be that whatever the lenders need and whatever the policy and pricing lenders are doing, the market is beha… | So, we have talked about pricing discipline in the presentation, but the underlying piece is that our product keeps getting better and better, and as … |
| Revenue growth | As you can see, our GMV growth was very strong, both on a year-on-year as well as sequential basis, and we for the first time crossed INR 5 lakh crore… | And as we start to get that revenue growth, a lot of the work that we have done this year on becoming more efficient should translate into fantastic o… | So I think early on when the RBI impact had come through and you just started recovering from that, at one point, you had called out what you believe … | This was 89% year-on-year revenue growth similar to last quarter. | We're very happy to report that we have internally kept the key target that we will continue to grow on a particular number in the topline because of … | At the same time, they were filled with lots of lessons for long-term sustainability and growth of the company. | I mean, even if MTUs remain where they are and don't grow, does that really impact your, let's say, revenue growth, your EBITDA, et cetera? | A bit more colour on the revenue growth acceleration that you've talked about in Fiscal 27. |