One Mobikwik Systems Limited — Investor Meet, 04-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

MobiKwik's Q1 FY26 earnings call highlighted strong performance. Payments GMV hit 38,400 Cr, up 53% YoY, with net margins at a healthy 15 bps, driven by optimized user incentives and gateway costs. Lending disbursements grew 30% QoQ, aiming for 40% margins by H2 FY26 as the book seasons. Overall EBITDA improved to negative 31 Cr. Management is confident in achieving break-even EBITDA by Q3 or Q4 FY26, leveraging operating efficiency and strong cash of 475 Cr. Key focus areas include growing payments, recovering lending, and scaling the nascent devices business.