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×

one mobikwik systems Limited

425.00
-5.56 %
Scrip Name
MOBIKWIK
ISIN No.
INE0HLU01028
PAN No.
AABCO0442Q
Face Value
2
No. of Outstanding Shares
55,615,263
Market Capitalization
2,363.65 Crore

ONE MOBIKWIK SYSTEMS LIMITED

ABOUT THE COMPANY

Mobikwik is a fintech company - one of the largest mobile wallets and one of the largest Buy Now Pay Later (BNPL) players in India. Digitally paying users have been rapidly growing in India in the last decade, but the credit card penetration in the country is still only 3.5%. They are focused on addressing the unmet credit needs of the fast-growing digitally paying users by combining the convenience of everyday mobile payments with the benefits of BNPL.

Founded in 2009 by Bipin Preet Singh and Upasana Taku, they commenced operations as a mobile wallet to make digital payments convenient for their users. Its use cases have since expanded to include bill payments, e-commerce shopping, food delivery, petrol pumps, large retail chains, pharmacies, Kirana stores, etc. Our platform also enables peer-to-peer payments via a unified payment interface (“UPI”), MobiKwik Wallet as well as MobiKwik Wallet to bank payments. Over the years they have amassed over 101 million Registered Users and more than 3 million e-commerce, physical retail, and biller partners.

In order to further enhance their value proposition to their online merchants, they introduced the payment gateway subsidiary Zaakpay in 2012. Zaakpay enables online websites and mobile apps to collect payments from their users using multiple payment options, including debit cards, credit cards, mobile wallets, UPI, and net banking.

In May 2019, they launched MobiKwik Zip, our flagship BNPL product, with a focus on the Indian middle-class population to enable them to make payments for daily life use cases. MobiKwik Zip is focused on providing this unserved Indian population with their first experience of credit.

They are a technology-first company leveraging big data analytics and deep data science (including machine learning) to continuously delight users and merchants on our platform. Their mission is to build a world-class payment and credit product for Bharat

INCORPORATION DETAILS

CIN

U64201HR2008PLC053766

Registration Date

20 March 200

Category/Sub-category of the Company

Company limited by Shares

Address of the Registered office and contact details

5TH FLOOR, HUDA CITY CENTRE METRO STATION, SECTOR 29, GURUGRAM, Gurgaon, Haryana.

Name, Address, and Contact Details of

Registrar and Transfer Agent, if any

Link Intime India Pvt. Ltd. Noble Heights, 1st Floor, Plot No NH-2, C-1 Block, LSC,

Near Savitri Market, Janakpuri, New Delhi – 110058

FINANCIAL PERFORMANCE 

Revenue from operations fell to INR 288.5 Cr from INR 355.6 CR in the previous year (FY20), which is just over 2X higher than the INR 148.4 Cr reported in FY19 (March 2019). Consequently, total income fell to INR 302 Cr from INR 369 Cr last year.

On a consolidated basis, the company spent INR 404 Cr, which is just 11% lower than the INR 454 Cr it spent in FY20. In terms of expenses, employee benefits expense accounted for INR 53.31 Cr in FY21, from INR 65.6 CR in FY20. Payment gateway costs were the most significant expense for Mobikwik, accounting for INR 151 Cr.

An area where Mobikwik did not significantly reduce spending is business promotions, which accounted for INR 80.3 CR in FY21, down just 14% from INR 93.4 Cr in FY20, but still higher than what the company spent in FY19 (INR 70 Cr)

As of March 31, 2021, Mobikwik said it had over 101.37 million registered users and more than 3.44 Mn online, offline, and biller merchant partners. Speaking about the revenue performance last year, the company said that in particular, it experienced rapid growth in buy now pay later (BNPL) products since their introduction. But GMV from BNPL fell from INR 485 Cr in FY20 to INR 299 Cr in 2021.

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