One Mobikwik Systems Limited — Investor Meet, 23-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

MobiKwik’s payments GMV jumped over 200% YoY to Rs. 1.15 lakh crore in FY25, powered by Pocket UPI, RuPay, and other digital payment modes, with payments delivering a 20%+ contribution margin. Lending showed 32% QoQ growth in ZIP EMI disbursements in Q4 despite regulatory challenges, with a stable take rate of 4%-4.5% and 40% margin expected post-recovery. ZaakPay, now fully licensed, targets profitable growth in online merchant payments. Management aims to optimize costs (~Rs.110-120 crore quarterly indirect costs) and lift overall contribution margins above 30% as lending rebounds. Investor sentiment remains confident on sustainable growth and scalable margins.