One Mobikwik Systems Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

One Mobikwik Systems Ltd trades at ₹217, in a downtrend and 77 weeks into that stage. That is −3.1% against its own 200-day average. It sits at 37% of a 52-week range of ₹169 to ₹298. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 2 straight weeks.

Today the stock is in a downtrend — week 77 of stage 4, confirmed. At ₹217 it trades −3.1% versus its 200-day average and sits at 37% of its 52-week range (₹169–₹298).

Against the market, two honest reads. Cumulative: over the last 1.6 years the stock moved −56% while the NIFTY 500 moved +4% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 2 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: how the P/E reads against its own history.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

One Mobikwik Systems Ltd trades at 1,072.0× P/E, against too little history to rank. Its long-run median P/E is 1,072.0×, measured across 0.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 1,072.0× is against too little history to rank, against a long-run median of 1,072.0× measured over 0.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

One Mobikwik Systems Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 7 quarters across 1 curve, on partial evidence.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

33.6/100 — rank 12 of 13 in E-Commerce - Platform - Utility · 59% evidence confidence

One Mobikwik Systems Ltd scores 33.6 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 12. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 15.6 + 3.6 + 10 + 4.4 = 33.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

One Mobikwik Systems Ltd reported ₹289 Cr of revenue in the Mar 26 quarter, +7.8% year on year. That is the 2nd straight quarter of year-on-year growth. Over 5 years it has compounded at 31.1% a year. The last full year, FY26, came in at ₹1,119 Cr. The last four reported quarters add to ₹1,119 Cr.

One Mobikwik Systems Ltd reported ₹289 Cr of revenue in the Mar 26 quarter, +7.8% year on year. That is the 2nd straight quarter of year-on-year growth. Over 5 years it has compounded at 31.1% a year. The last full year, FY26, came in at ₹1,119 Cr. The last four reported quarters add to ₹1,119 Cr.

FY26 revenue came in at ₹1,119 Cr (−4.4% on the year), capping 5 years at 31.1% compound. The latest quarter (Mar 26) printed ₹289 Cr, +7.8% year on year — the 2nd consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged −3.2% growth against the decade's 31.1% — the current year is running slower than its own long-run rate.

→ Revenue grew — did margins hold as it scaled? Next: 3.5% this quarter (+24.6 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

One Mobikwik Systems Ltd's operating margin is 3.5% in the Mar 26 quarter, +24.6 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged −40.0% to 3.0%. The current quarter is running above every full year in that window.

One Mobikwik Systems Ltd's operating margin is 3.5% in the Mar 26 quarter, +24.6 percentage points against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged −40.0% to 3.0%. The current quarter is running above every full year in that window.

The latest quarter's operating margin is 3.5%, +24.6 pp against the same quarter a year ago. Across 6 fiscal years the operating margin has ranged −40.0%–3.0%.

Why the margin moved: operating margin went +24.6 pp year on year while gross margin went +0.0 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

→ Margins held — did that reach the bottom line? Next: profit null in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

One Mobikwik Systems Ltd earned ₹4.4 Cr of net profit in the Mar 26 quarter. The full FY26 year was a loss of ₹62.0 Cr. That is 1.5% of the quarter's revenue. The same quarter a year earlier lost ₹56.0 Cr. 7 of the last 11 reported quarters were loss-making.

One Mobikwik Systems Ltd earned ₹4.4 Cr of net profit in the Mar 26 quarter. The full FY26 year was a loss of ₹62.0 Cr. That is 1.5% of the quarter's revenue. The same quarter a year earlier lost ₹56.0 Cr. 7 of the last 11 reported quarters were loss-making.

Mar 26 profit was ₹4.4 Cr, null year on year. On the full year, FY26 printed ₹−62.0 Cr (null).

→ Profit rose — but did the cash follow?

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

One Mobikwik Systems Ltd's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹−78.0 Cr of operating cash against ₹−62.0 Cr of profit. After ₹12.0 Cr of capital spending, ₹−90.0 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.

FY26: operating cash of ₹−78.0 Cr against reported profit of ₹−62.0 Cr, leaving free cash of ₹−90.0 Cr after ₹12.0 Cr of capital spending.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 24-day cycle and ₹39.0 Cr of building.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

One Mobikwik Systems Ltd's cash conversion cycle runs 24 days in FY26, down from 48 days in FY21. Capital spending ran ₹39.0 Cr over the last 3 years. At FY26 sales of ₹1,119 Cr each day of that cycle holds about ₹3.1 Cr, so roughly ₹74.0 Cr sits inside the business at any moment.

FY26: debtors at 24 days (an asset-light business — no inventory to speak of) — for a full cycle of 24 days, tighter than FY21's 48.

In money terms: at FY26 sales of ₹1,119 Cr, each day of the cycle holds about ₹3.1 Cr — so the 24-day loop keeps roughly ₹74.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹39.0 Cr over the last 3 fiscal years against ₹31.0 Cr of depreciation — building somewhat ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is −2% and the ROIC − WACC spread is +65.7 pp.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

One Mobikwik Systems Ltd earns a ROCE of −2% in FY26. That is up from a trough of −57% in FY22. Return on invested capital clears the cost of that capital by +65.7 percentage points, so growth here adds value rather than only size. The wiring behind it is −5.5% net margin on 0.79× asset turns.

FY26 ROCE is −2%, recovered from a FY22 trough of −57% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): −5.5% net margin × 0.79× asset turns × 2.61× balance-sheet leverage ≈ −11.3% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 77.7% − 12.0% = a +65.7 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.51.

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

One Mobikwik Systems Ltd carries total debt of ₹276 Cr against shareholder equity of ₹539 Cr as of Mar 26, a debt-to-equity of 0.51. On the annual view that ratio went from −3.05 in FY21 to 0.51 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹276 Cr against shareholder equity of ₹539 Cr — a debt-to-equity of 0.51. On the annual view, debt-to-equity went from −3.05 (FY21) to 0.51 (FY26). Read the returns on this page with that leverage in mind.

→ Who owns this, and are they adding or leaving? Next: Domestic institutions cut 5.3 points over 6 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Domestic institutions cut 5.3 points of One Mobikwik Systems Ltd over 6 quarters, the biggest move on the register. That takes domestic institutions to 3.5% of the company. Foreign institutions moved −0.3 points over the same window, to 4.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −5.3 points over 6 quarters to 3.5%; Foreign institutions: −0.3 points over 6 quarters to 4.5%; Promoters: −0.1 points over 6 quarters to 25.1%.

🚨 Why the register moved: domestic institutions drove it (−5.3 points) — distribution into the market’s bid.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

One Mobikwik Systems Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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