One Mobikwik Systems Limited · NSE:MOBIKWIK
One Mobikwik Systems — Q4 FY2025 Earnings Presentation
38 slides from One Mobikwik Systems's earnings presentation, May 20, 2025
Slide 1: Investor Presentation for the quarter and year ended March 31, 2025
Date: May 20, 2025 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 for the quarter and year
Slide 2: Private & Confidential
PRIVATE & CONFIDENTIAL
Slide 3: Our Foundation
Our Foundation Our Vision Our Mission Our Values To be the most trusted name in Create personalised financial Trust, speed, empathy, ownership, digital finance for Bharat solutions that are simple, secure and collaboration. and accessible PRIVATE & CONFIDENTIAL 2
Slide 4: Slide 4
Slide 5: Business Model Allows For Significant Scaleup Profitably
Business Model Allows For Significant Scaleup Profitably PRIVATE & CONFIDENTIAL 4
Slide 6: 2-Sided Payments Business: Users & Merchants
2-Sided Payments Business: Users Merchants Users pay via UPI, wallet, & cards for everyday expenses Merchants (eCommerce & Offline) accept payments via our Checkout, QR, soundbox & EDC products PRIVATE & CONFIDENTIAL 5
Slide 7: Diversified Credit Offerings
Diversified Credit Offerings PRIVATE & CONFIDENTIAL 6
Slide 8: Deepening User Engagement with Wealth Offerings
Deepening User Engagement with Wealth Offerings PRIVATE & CONFIDENTIAL 7
Slide 9: Slide 9
Slide 10: MobiKwik – India's Largest Wallet
MobiKwik – India’s Largest Wallet 176.4 Mn 4.6 Mn 20.6 Mn Users Key User Statistics Registered User Base 31 Mar 2025 Merchants 31 Mar 2025 530 K Merchants +13.2% YoY +13.1% YoY Newly added in FY25 INR 1,158.7 Bn INR 53.6 Bn 0.66% Operational Payments GMV Digital Credit GMV Payment Take Rate Metrics
Slide 11: FY25 Payments GMV All-time High - Surpasses INR 1 Lakh Crore
FY25 Payments GMV All-time High - Surpasses INR 1 Lakh Crore Merchants (Mn)(1) Payments GMV (INR Bn)(1) Registered Users (Mn)(1) 13% 176 13% 4.59 203% 1,159 11% 156 9% 4.06 3.74 140 84% 382 207 FY23 FY24 FY25 FY23 FY24 FY25 FY23 FY24 FY25 Exponential growth in Payments Spends… ..driven by significan
Slide 12: 142% YoY Growth in Payments Revenue, with Best-in-Class Gross Margin of 19.7%
142%YoY Growth in Payments Revenue, with Best-in-Class Gross Margin of 19.7% Revenue from Payments (INR Mn) & Gross Margin (%) Unit Economics of Payments Business (bps) (3) Gross 18.2% 19.4% 19.7% Margin(1) (%) Particulars (in bps) FY23 FY24 FY25 142% 7,674 Payments Revenue (3) 123 83 66 Payments Ga
Slide 13: Positive Momentum Building in Unsecured Lending Ahead
Positive Momentum Building in Unsecured Lending Ahead Digital Credit GMV (Distribution) (INR Mn) Revenue from Financial Services (INR Mn) Lending Related Expenses (INR Mn) & Gross Margin (%) (1) Financial Lending Services 37.5% 45.7% 46.7% Related 3.5% 3.3% 4.0% GM (%)(1) Exp (%) (3) 90,934 5,579 3,
Slide 14: Payments Revenue Surged 142%, Fuelling Overall Revenue Growth
Payments Revenue Surged 142%, Fuelling Overall Revenue Growth Total Income buildup (INR Mn) & CM (%) Fixed Cost (INR Mn) & Fixed Cost (%) Contribution Fixed Margin (CM) (1)(2) 31.2% 37.3% 30.3% Cost(1) 41.1% 33.1% 37.0% (%) (%) 11,925 4,410 8,903 4,028 2,945 2,309 5,611 5,579 2,850 7,674 2,544 3,171
Slide 15: Revenue Mix Shift Towards Payments Leading to Lower Portfolio Margins
Revenue Mix Shift Towards Payments Leading to Lower Portfolio Margins EBITDA (INR Mn) & EBITDA Margin (%) PAT (INR Mn) & PAT Margin (%) EBITDA(1) (10.0%) 4.2% (6.7%) PAT(1) (14.9%) 1.6% (10.2%) Margin Margin (%) (%) 372 141 (559) (794) (838) (1,215) FY23 FY24 FY25 FY23 FY24 FY25 Lower CM lead to Mod
Slide 16: With continuing payments business growth and inflection in FS business, operating leverage to kick in
With continuing payments business growth and inflection in FS business, operating leverage to kick in INR Mn Direct Cost: • Increased in proportion to revenue growth 11,925 (8,309) • Payments CM stable – lending impacted due to macro 223 and accounting changes Fixed Cost: 6,162 • Investment in new a
Slide 17: Slide 17
Slide 18: Consistently Achieving Record-High GMV in Recent Quarters
Consistently Achieving Record-High GMV in Recent Quarters Payments GMV (INR Bn)(1) Registered Users (Mn) )(1) 331 176 294 172 Q3FY25 Q4FY25 Q3FY25 Q4FY25 Exponential growth in Payments spends… ..driven by significant growth in the Registered User base • Payments GMV – 129% YoY in Q4FY25 • User base
Slide 19: Record High Payments GMV with Best-in-Class Gross Margin of 23.9%
Record High Payments GMV with Best-in-Class Gross Margin of 23.9% Payments Revenue (INR Mn) & Gross Margin (% )(1) Unit Economics of Payments Business (bps) )(2) Gross 18.9% 23.9% Particulars (in bps) Q3FY25 Q4FY25 Margin(1) (%) 2,116 Payments Revenue 67 64 1,965 Payments Gateway Costs (49) (44) Use
Slide 20: Growth Revival Expected Post Q2FY26: Early Green Shoots Visible
Growth Revival Expected Post Q2FY26: Early Green Shoots Visible Digital Digital CreditGMV Credit GMV (Distribution) (Distribution) (INR Bn) (INR Mn) Revenue from Financial Services & Lending Related Expenses (INR GM (%) (INR Mn) Mn) Financial Lending 7,047 6,809 10.1% 4.3% Related 9.3% 7.9% Services
Slide 21: Payments Revenue Share Rises as Fixed Costs Decline
Payments Revenue Share Rises as Fixed Costs Decline Total Income buildup (INR Mn) Fixed Cost & Fixed Cost (%) (INR Mn) Contribution Fixed Margin (CM) (1)(2) 26.6% 22.8% Cost(1)(2) 42.1% 39.3% (%) (%) 2,785 2,745 1,157 730 562 1,094 1,965 2,116 Q3FY25 Q4FY25 Q3FY25 Q4FY25 Revenue from Revenue from Ot
Slide 22: Operating Leverage on Fixed Costs to Drive Future Profitability
Operating Leverage on Fixed Costs to Drive Future Profitability EBITDA (INR Mn) & EBITDA Margin (%) PAT (INR Mn) & PAT Margin(%) EBITDA (15.5%) (16.4%) PAT (20.1%) (20.1%) Margin(1) (%) Margin(1) (%) (427) (458) (553) (560) Q3FY25 Q4FY25 Q3FY25 Q4FY25 Moderate EBITDA due to lower CM…. leading to low
Slide 23: Demonstrated sustainable model historically, CM revival will drive future profitability
Demonstrated sustainable model historically, CM revival will drive future profitability Contribution Margin (%)(1) 38% 40% 37% 36% 31% 27% 23% Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 EBITDA (INR Mn) 108 108 68 59 22 (427) (458) Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 1) As a (%) of
Slide 24: Slide 24
Slide 25: Unlocking Value: Key Growth Levers
Unlocking Value: Key Growth Levers PRIVATE & CONFIDENTIAL 24
Slide 26: AI as a Catalyst to Scale faster, Collect Smarter & Serve Better in FY26
AI as a Catalyst to Scale faster, Collect Smarter & Serve Better in FY26 AI Assisted Product Efficient Driving Development Collections Customer Delight • Achieve up to 30% faster • Launch of KWIK Collect, integrated • Enable real-time CSAT tracking development through coding tools with CRM for strea
Slide 27: Driving UPI growth through Pocket UPI
Driving UPI growth through Pocket UPI India’s First Truly Pocket-Sized UPI Revolution Redefining UPI for Bharat: “The Smarter Way to UPI” • No Bank Account linking needed • Reduced financial exposure • Clutter-free Bank statements • PIN-less & Instant payments • Plan monthly budgets smartly Powerful
Slide 28: Driving UPI growth through First Card
Driving UPI growth through First Card Newly launched FD backed Rupay Credit Card • Widely accepted on UPI Network • Only revenue generating product on UPI today Drives financial inclusion • First Credit Card for every Indian • Builds credit score for ‘New to Credit’ users Engaging users at scale • C
Slide 29: Newly Licensed Payment Aggregator is ready to go
Newly Licensed is ready to go Safe, innovative and compliant B2B payment products to power fast-growing internet startups Key Products: Conversational Commerce (in-chat) payments, Affordability stack (Credit & Debit Card EMIs) on checkout, Instant daily settlements, Invoicing, UPI Autopay, etc. Alre
Slide 30: Slide 30
Slide 31: Payments Business – Quarterly Key Performance Indicators (KPIs)
Payments Business – Quarterly Key Performance Indicators (KPIs) For the quarter ended For the quarter ended Key Performance Indicator Unit 31-Mar-25 31-Dec-24 Payments GMV INR Mn 3,30,663 2,94,456 Payment gateway GMV INR Mn 8,965 9,432 Platform Spend GMV INR Mn 3,41,166 3,06,956 Registered Users Mn
Slide 32: Financial Services Distribution Business - Quarterly Key Performance Indicators (KPIs)
Financial Services Distribution Business - Quarterly Key Performance Indicators (KPIs) For the quarter ended For the quarter ended Key Performance Indicator Unit 31-Mar-25 31-Dec-24 Digital Credit GMV INR Mn 6,809 7,047 ZIP EMI GMV (Disbursements) INR Mn 5,272 3,979 Activated - Zip EMI Users Mn 1.2
Slide 33: Financial Statements - Quarterly Key Performance Indicators (KPIs)
Financial Statements - Quarterly Key Performance Indicators (KPIs) For the quarter ended For the quarter ended Key Performance Indicator Unit 31-Mar-25 31-Dec-24 Payments Take Rate % 0.6% 0.7% Financial Services Take Rate % 8.3% 10.4% Revenue from operations INR Mn 2,678 2,695 Gross Margin - Payment
Slide 34: Payments Business – Annually Key Performance Indicators (KPIs)
Payments Business – Annually Key Performance Indicators (KPIs) For the year ended For the year ended Key Performance Indicator Unit 31-Mar-25 31-Mar-24 Payments GMV INR Mn 11,58,681 3,81,955 Payments gateway GMV INR Mn 56,943 34,121 Platform Spend GMV INR Mn 12,44,433 4,76,777 Registered Users Mn 17
Slide 35: Financial Services Distribution Business - Annually Key Performance Indicators (KPIs)
Financial Services Distribution Business - Annually Key Performance Indicators (KPIs) For the year ended For the year ended Key Performance Indicator Unit 31-Mar-25 31-Mar-24 Digital Credit GMV INR Mn 53,583 90,934 ZIP EMI GMV (Disbursements) INR Mn 24,774 30,232 Activated - Zip EMI Users Mn 1.2 0.9
Slide 36: Financial Statements – Annually Key Performance Indicators (KPIs)
Financial Statements – Annually Key Performance Indicators (KPIs) For the year ended For the year ended Key Performance Indicator Unit 31-Mar-25 31-Mar-24 Payments Take Rate % 0.7% 0.8% Financial Services Take Rate % 7.5% 6.1% Revenue from operations INR Mn 11,702 8,750 Gross Margin - Payments Servi
Slide 37: Private & Confidential
PRIVATE & CONFIDENTIAL
Slide 38: Disclaimer
Disclaimer By attending the 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”) are solely for information purposes, without regard to any specific objectives, financial situation
One MobiKwik Systems — Q4 FY2025 Earnings Presentation on 6ix