One Mobikwik Systems Limited · NSE:MOBIKWIK
One Mobikwik Systems — Q2 FY27 Earnings Presentation
35 slides from One Mobikwik Systems's earnings presentation, Nov 2, 2026
Slide 1: Intimation of Investor Presentation on Q2 FY27 Results
Date: November 02, 2026 To, National Stock Exchange of India Limited BSE Limited Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Symbol: MOBIKWIK Scrip Code: 544305 Sub: Investor Presentation on the Financial Res
Slide 2: Earnings Presentation
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Slide 3: All-Time High EBITDA and PAT Delivered in Q2 FY27
All-Time High EBITDA and PAT Delivered in Q2 FY27 TOTAL INCOME EBITDA ₹3,028 Mn ₹227 Mn ▲8% YoY | ▲5% QoQ ▲₹291 Mn YoY | ▲44% QoQ Revenue From Operations ₹2,957 Mn EBITDA Margin PROFIT AFTER TAX 7.5% ₹118 Mn ▲977 bps YoY | ▲204 bps QoQ ▲₹404 Mn YoY | ▲55% QoQ Accelerating GMV Growth + Margin Expansi
Slide 4: Operationalised AI: The Compounding Moat
Operationalised AI : The Compounding Moat ENGINEERING CUSTOMER EXPERIENCE AI-led software development Ve r n a c u l a r A I c h a t b o t 92% ▲ 12% ▲ 55% 91% ▲ 5% 100% Code generated through AI QoQ Improvement in usage Faster Go To Market Queries solved by Help LLM QoQ Improvement in usage User con
Slide 5: Financial Performance
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Slide 6: Payments & Financial Services: Strong GMV Growth supported by Improved Margins
Payments & Financial Services: Strong GMV Growth supported by Improved Margins GMV Revenue Direct Cost Gross Profit GM (%) (INR Bn) (INR Mn) (INR Mn) (INR Mn) Payments • GMV up 35% YoY, led by Merchant 597 2,088 1,290 798 38.2% Payments (+76%) • Revenue flat on lower take-rate mix; +884 +35% 0% -13%
Slide 7: Financial Waterfall – YoY improvement across Financial Metrics
Financial Waterfall – YoY improvement across Financial Metrics 3,028 Q2 FY27 vs Q2 FY26 71 Total Income 8% (1,588) Direct Cost 13% Contribution Profit 50% 2,088 (1,290) EBITDA 291 Mn 1,439 PAT 404 Mn 71 (298) 798 571 (1,212) 869 (1,212) 227 227 (108) (43) 118 (65) 118 INR Mn Revenue Direct Cost Cont
Slide 8: Direct Costs Down 13% YoY; Contribution Profit Up 50% YoY
Direct Costs Down 13% YoY; Contribution Profit Up 50% YoY Direct Cost (INR Mn) CM and Contribution CM% Profit up 50% YoY 2,000 55% Payment Related Expenses 48% Lending Related Expenses 1,800 46% 44% 43% 45% 1,600 1,832 1,439 1,684 1,400 34% 1,351 1,609 1,288 1,286 35% 1,606 1,588 1,200 1,000 961 25%
Slide 9: Operating Leverage Playing Out - EBITDA Margin Expands to 7.5%
Operating Leverage Playing Out - EBITDA Margin Expands to 7.5% Fixed Cost (INR Mn) EBITDA (INR Mn) Fixed Cost 36.7% 38.3% 39.8% 39.0% 40.0% EBITDA (2.3)% 5.0% 5.9% 5.5% 7.5% (%) Margin(1) 300 1,212 1,138 1,177 250 227 1,128 1,025 200 174 150 158 650.5 150 716.1 594.1 723.5 671.1 100 50 0 534.0 561.9
Slide 10: PAT at ₹118 Mn: Strong YoY Upswing of ₹404 Mn
PAT at ₹118 Mn: Strong YoY Upswing of ₹404 Mn Finance and Depreciation Cost (INR Mn) Profit After Tax (INR Mn) 109 108 PAT PAT Margin % 104 150 118 92 100 76 3.9% 36.9 40 44 4.0% 31.7 81 43.1 50 2.6% 1.4% 1.5% - 40.7 -50 -1.0% 35.9 -100 -150 -6.0% 72.1 72.3 65.0 -200 -10.2% 51.0 45.4 -250 -11.0% -30
Slide 11: Payments
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Slide 12: Consumer Payments: Product Offerings
Consumer Payments : Product Offerings UPI - #11 TPAP Wallet & Pocket UPI - #1 Wallet by GTV Bill Payments - #5 in BBPS Send money to anyone, scan Load once, spend anywhere - A UPI account that lives inside Every recurring payment - any QR, pay offline - all from without touching your bank your walle
Slide 13: Consumer Payments: Mature Business Displaying Improved Margins
Consumer Payments : Mature Business Displaying Improved Margins Net Consumer ▲27% YoY Consumer Payments GMV ▲26% YoY Consumer Payments Gross Profit 16.2 bps Payments Margin ▲ 0.4 bps vs Q1 FY27 PRODUCTS, SCALE & REVENUE SOURCES UPI PPI Wallet Recharge & Bill Payments Low-cost acquisition funnel Dail
Slide 14: Merchant Payments: Product Offerings
Merchant Payments : Product Offerings Offline Merchants Payment Gateway EDC terminals · Sound Box · QR Zaakpay checkout for enterprises & SMBs Organised / Oil & Gas General Trade Enterprise Accept UPI, cards and wallet at the One Zaakpay checkout for UPI, counter via EDC, Sound Box and QR cards, net
Slide 15: Merchant Payments: Scaling up the next Growth Driver
Merchant Payments : Scaling up the next Growth Driver Merchant Payments GMV Merchant Payments Revenue Net Merchant Payments Margin ▲76% YoY ▲18% QoQ ▲150% YoY ▲29% QoQ 3.4 bps ▲ 1 bps vs Q1 FY27 PRODUCTS & REVENUE SOURCES OFFLINE MERCHANT ACQUIRING ONLINE PA (ZAAKPAY) UPI Acceptance EDC / POS Termin
Slide 16: Record High Platform Spend GMV - 35% YoY growth with Improved Margins
Record High Platform Spend GMV1 - 35% YoY growth with Improved Margins 29.4% 37.2% 39.1% 37.3% 38.2% Gross Margin (%) ▲35% YoY 597 587 Merchant Payments Leading Growth; 544 Consumer Payments Steady at Scale 113 133 492 94 Merchant GMV up 76% YoY and 18% QoQ 441 81 to ₹133 Bn, 75 Merchant GMV at 22%
Slide 17: Payments Unit Economics within Guided Range at 13 bps
Payments Unit Economics within Guided Range at 13 bps Unit Economics of Payments Business (Bps) (1) Particulars Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 (in bps) Payments Revenue 47 46 39 35 35 Payments Gateway Costs (30) (26) (22) (20) (20) User Incentive costs (3) (2) (2) (2) (2) Net Payments Margi
Slide 18: Consumer Lending
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Slide 19: Consumer Lending: Product Offerings
Consumer Lending : Product Offerings A diversified, risk-aligned credit platform serving users across the credit spectrum. A. FLDG Model - High Control, Higher Yield • Operates in Moderate-ROI segments (22–32%) with short- tenure, small-ticket loans • Co-created filtration parameters with underwriti
Slide 20: Portfolio maturing with tilt towards Repeat and Super Prime cohorts
Portfolio maturing with tilt towards Repeat and Super Prime cohorts Lending Disbursal Mix FLDG 79% Distribution 21% Key Metrics, YoY ● Credit Risk performance improved by ~22% Super Prime Prime Near Prime ● Repeat loans went up from 40% to 59% ● FS margins improved from 3.17% to 5.27% Key Asks – Key
Slide 21: Borrower Base: Young, Salaried and Credit-Ready
Borrower Base : Young, Salaried and Credit-Ready As a % of Digital Credit GMV Age Group Monthly Income Group Geography North 32% Upto 30 25% Upto ₹75K 43% South 34% 31-40 47% ₹75K-150K 25% West 18% 40+ 28% ₹150K+ 32% East+Central 16% Occupation Type Cohort (Bureau Score) Customer Usage 700-749 46% S
Slide 22: Growth Initiative: Targeting Existing User Base to Generate Incremental Business
Growth Initiative: Targeting Existing User Base to Generate Incremental Business ~₹2,000 Mn of Q2 FY27 Disbursals Generated Through Pre-Approved Offers 21
Slide 23: New Initiatives Resulted in 47% QoQ Growth in Disbursals
New Initiatives Resulted in 47% QoQ Growth in Disbursals ZIP EMI GMV (Disbursal) (INR Mn) # of Lending 6 7 7 9 11 Partners(1) Top 3 Lender 91% 91% 87% 71% 71% Concentration +47% QoQ 10,826 9,000 8,071 8,377 7,367 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 • Disbursals recovered to ₹10,826 Mn in Q2 FY27
Slide 24: Financial Services Gross Profit Grew 2.2X YoY
Financial Services Gross Profit Grew 2.2X YoY Revenue from Financial Services (INR Mn) & Gross Margin (%) (1) 65.7% Gross 58.5% 59.0% Margin 57.1% 41.8% Highest Quarterly Gross Margin- at 65.7% in Q2 FY27 869 771 • YoY Revenue growth of 42%, 733 driven by 34% growth in 652 613 disbursals and a highe
Slide 25: Credit Quality Improvements Flowing to Net Margins
Credit Quality Improvements Flowing to Net Margins Unit Economics of Financial Services (1) Particulars Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Current Book Take Rate(1) 7.59 % 7.24 % 7.40 % 8.09 % 6.92 % (A) Past Book Recoveries(1) 0.0 % 0.0 % 1.81 % 1.87 % 1.10 % (B) Lending Related Expense (1) (4
Slide 26: Slide 26
Slide 27: Our Business Model
_ Our Business Model User & merchant acquisition via Digital Payments B Tier ef f Merchants ' v Merchant Solutions . , . + * + ‘ + , ‘ ‘ ah Vv 1 v 1 4 1 1 =n 3, Credit 'O Payments 3 (UPI, Wallet, Bill Payments & more) Solutions (Retsonel Loans) (FD, Mutual Funds, FD-Backed Credit Card & more) Digita
Slide 28: Strong Independent Board of Directors Ensuring Compliance at Every Step
Strong Independent Board of Directors Ensuring Compliance at Every Step 27
Slide 29: Regulatory Licenses Enabling Long-Term Business Continuity
Regulatory Licenses Enabling Long-Term Business Continuity Type of Regulatory Details of Licenses Last Renewed Product/ Service Offered Business Activity Authority Prepaid Payment Instrument 30-Sep-26 RBI Issuance and Operation of PPI (Wallets) to the consumers. Providing merchant (PPI) acce
Slide 30: Key Performance Indicators
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Slide 31: Payment Services – Key Performance Indicators (KPIs)
Payment Services – Key Performance Indicators (KPIs) INR million, unless otherwise mentioned FY24 FY25 FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Registered Users 155.8 176.4 189.6 183.5 186.6 189.6 192.8 196.3 Merchants 4.1 4.6 4.9 4.7 4.8 4.9 5.0 5.1 Payment GMV (including ZaakPay) 416,075 1,215,623
Slide 32: Financial Services – Key Performance Indicators (KPIs)
Financial Services – Key Performance Indicators (KPIs) INR million, unless otherwise mentioned FY24 FY25 FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Activated ZIP EMI Users 0.94 1.24 1.58 1.42 1.51 1.58 1.64 1.74 MobiKwik ZIP EMI GMV 30,231.5 24,774.0 32,379.8 8,070.7 9,000.4 8,377.3 7,367.0 10,826.1 %
Slide 33: Consolidated Financials – Key Performance Indicators (KPIs)
Consolidated Financials – Key Performance Indicators (KPIs) INR million, unless otherwise mentioned FY24 FY25 FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY27 Q2FY27 Revenue from Operations 8,750.0 11,701.7 11,192.3 2,702.1 2,889.5 2,887.1 2,814.8 2,957.0 Other Income 153.1 223.2 349.6 91.2 82.7 73.2 76.7 70.6 Tota
Slide 34: Thank You
Slide 35: Disclaimer
Disclaimer By attending any earnings-related event or by reading the presentation slides you agree to be bound as follows: This Presentation is prepared by One MobiKwik Systems Limited (“Company”) and is solely for information purposes, without regard to any specific objectives, financial situations