One 97 Communications Ltd
PAYTMOne 97 Communications Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting.
The sharpest disagreement: Foreign institutions moved −10.2 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a confirmed uptrend (9 weeks in) while the P/E sits at the 76th percentile of its own 1-year range. Underneath, the last four quarters read improving — profit +78.9% year on year. What settles it: whether the register turns back in the story’s favour.
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 97 Communications Ltd trades at ₹1,808, in a confirmed uptrend and 9 weeks into that stage. That is +41.7% against its own 200-day average. It sits at 100% of a 52-week range of ₹976 to ₹1,808. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 10 straight weeks.
Today the stock is in a confirmed uptrend — week 9 of stage 2, confirmed. At ₹1,808 it trades +41.7% versus its 200-day average and sits at 100% of its 52-week range (₹976–₹1,808).
Against the market, two honest reads. Cumulative: over the last 4.8 years the stock moved +16% while the NIFTY 500 moved +52% — behind the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 10 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.
Story check
One 97 Communications Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: EARLY_EXPANSION. Still open: Operating profit turning negative for two consecutive quarters or partner lending institutions reducing available credit allocations by more than 25%.
Our read, 22 August 2026. Paytm has established sustained operating profitability with Q1 FY27 operating profit reaching 203 Cr (8.3% margin) on 27.6% revenue growth, though cash flow conversion remains constrained by working capital requirements.
What is proven. Paytm has established sustained operating profitability with Q1 FY27 operating profit reaching 203 Cr (8.3% margin) on 27.6% revenue growth, though cash flow conversion remains constrained by working capital requirements.
What is not proven yet. Operating profit turning negative for two consecutive quarters or partner lending institutions reducing available credit allocations by more than 25%.
🚨 What would change our mind. Operating profit turning negative for two consecutive quarters or partner lending institutions reducing available credit allocations by more than 25%.
Layer 1 read, 22 August 2026 — KEEP. The turnaround is genuine, but three of every four rupees of pre-tax profit still come from the cash pile, not the business. Five straight quarters of positive operating profit and revenue up 27.6% to Rs 2,448 Cr make this a real operating recovery, and management's promises are landing - all five guidance pairs read MET or ON_TRACK, with adjusted EBITDA margin at 8.0% against 1.0% a year ago. The catch is what sits underneath the reported profit: in the Jun 2026 quarter Rs 182 Cr of Rs 247 Cr pre-tax profit is interest earned on the Rs 4,501 Cr investment book and Rs 13,500 Cr of cash, so the business itself contributed about Rs 65 Cr after depreciation and interest - and FY26 operating cash flow was minus Rs 743 Cr while reported profit was plus Rs 552 Cr. At 129 times earnings, that gap between accounting…
What would change Layer 1’s mind. The timeline's own kill-switch is two consecutive quarters of negative operating profit or lending partners cutting credit allocation by more than 25%. Sharpened to what would actually flip THIS verdict first: a quarter where other income falls back toward its Rs 32 Cr Sep-2025 level and reported pre-tax profit collapses with it - that would show the last four quarters of profit were treasury yield wearing an operating costume. The second trigger is FY27 operating cash flow staying negative…
Layer 2 read, 22 August 2026 — BENCH. Paytm's operating turn is real, but the price assumes cash and core profits that have not arrived yet. Operating margin reached 8.3% as revenue expanded, and the sector check confirms the gain came while Paytm still invested in marketing. Yet FY26 operating cash was negative and the stock trades on an extreme trailing multiple, while the sector record also shows a reversal in the UPI merchant-fee view. The evidence supports watching the turnaround, not advancing it past stronger Priority 1 setups.
What would change Layer 2’s mind. Move BENCH to ADVANCE only if Paytm prints positive operating cash for two consecutive quarters while operating margin stays above 8% and other income stops being the majority of pre-tax profit; move toward DROP if operating profit turns negative for two quarters or lending partners cut available credit by more than 25%.
The test written in advance. Operating profit turning negative for two consecutive quarters or partner lending institutions reducing available credit allocations by more than 25%. — the thesis as written as stated by the next result.
🚨 What the surface reading misses. The surface reading is: Operating margin at highest level in company history. The research reads it further: The entire historical band was negative until June 2025. The high percentile represents the crossing into operating profitability rather than cyclical mean-reversion risk.
🚨 What the surface reading misses. The surface reading is: Q4 FY26 net profit was 183 Cr. The research reads it further: Operating profit of 132 Cr is fully absorbed by depreciation of 132 Cr and interest of 5 Cr, leaving operating PBT near zero without investment treasury returns.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
One 97 Communications Ltd reported ₹2,448 Cr of revenue in the Jun 26 quarter, +27.6% year on year. That is the 5th straight quarter of year-on-year growth. Over 11 years it has compounded at 34.5% a year. The last full year, FY26, came in at ₹8,437 Cr. The last four reported quarters add to ₹8,967 Cr.
FY26 revenue came in at ₹8,437 Cr (+22.3% on the year), capping 11 years at 34.5% compound. The latest quarter (Jun 26) printed ₹2,448 Cr, +27.6% year on year — the 5th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +22.6% growth against the decade's 34.5% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +22.6% over the last 4 quarters against −0.9%/yr over the last 8 — accelerating.
FY26-Q4. revenue ₹2,264 Cr and profit ₹183 Cr as reported.
FY27-Q1. revenue ₹2,448 Cr and profit ₹220 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
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 97 Communications Ltd's operating margin is 8.0% in the Jun 26 quarter, +4.2 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 10 fiscal years the operating margin has ranged −195.0% to 6.0%. The current quarter is running above every full year in that window.
Why this happened. Operating profit margin reached 8.3% in Q1 FY27, up 450 bps YoY, driven by operating leverage as indirect operating costs grew at a fraction of 27.6% revenue growth. Proprietary artificial intelligence models running on owned infrastructure have lowered customer service, sales routing, and compute expenses, supporting the medium-term path toward 15.0-20.0% adjusted EBITDA margin.
The latest quarter's operating margin is 8.0%, +4.2 pp against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged −195.0%–6.0%, and FY26's 6.0% is the top of that band — a record year.
Why the margin moved: operating margin went +4.5 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.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
FY26-Q4. revenue ₹2,264 Cr and profit ₹183 Cr as reported.
FY27-Q1. revenue ₹2,448 Cr and profit ₹220 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
One 97 Communications Ltd earned ₹220 Cr of net profit in the Jun 26 quarter, +78.9% year on year. Full-year FY26 profit was ₹552 Cr. That is 9.0% of the quarter's revenue. The same quarter a year earlier earned ₹123 Cr. 6 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹220 Cr, +78.9% year on year. On the full year, FY26 printed ₹552 Cr (null).
FY26-Q4. revenue ₹2,264 Cr and profit ₹183 Cr as reported.
FY27-Q1. revenue ₹2,448 Cr and profit ₹220 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
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 97 Communications Ltd's cash-flow history is too thin to judge how much reported profit converts into cash. In FY26 that was ₹−743 Cr of operating cash against ₹552 Cr of profit. After ₹580 Cr of capital spending, ₹−1,323 Cr was left as free cash. Cash resolution here is annual, because quarterly cash statements are not published.
FY26: operating cash of ₹−743 Cr against reported profit of ₹552 Cr, leaving free cash of ₹−1,323 Cr after ₹580 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.
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 97 Communications Ltd's cash conversion cycle runs 51 days in FY26, down from 61 days in FY21. Capital spending ran ₹1,674 Cr over the last 3 years. At FY26 sales of ₹8,437 Cr each day of that cycle holds about ₹23.1 Cr, so roughly ₹1,179 Cr sits inside the business at any moment.
Why this happened. The active merchant base with payment devices expanded to 1.4 crore units, with 27 lakh additions annually. Decentralized refurbishment hubs across multiple cities deliver 25-30% cost savings compared to new device procurement. This lifecycle extension reduces depreciation charges and capital expenditure intensity as device additions stabilize.
FY26: debtors at 51 days (an asset-light business — no inventory to speak of) — for a full cycle of 51 days, tighter than FY21's 61.
In money terms: at FY26 sales of ₹8,437 Cr, each day of the cycle holds about ₹23.1 Cr — so the 51-day loop keeps roughly ₹1,179 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹1,674 Cr over the last 3 fiscal years against ₹1,977 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹11.0 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.
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.
One 97 Communications Ltd earns a ROCE of 5% in FY26. That is up from a trough of −101% in FY16. Return on invested capital clears the cost of that capital by −9.0 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 6.5% net margin on 0.35× asset turns.
FY26 ROCE is 5%, recovered from a FY16 trough of −101% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 6.5% net margin × 0.35× asset turns × 1.49× balance-sheet leverage ≈ 3.4% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 3.0% − 12.0% = a −9.0 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. Negative — growth at these returns destroys value until the returns recover.
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.
One 97 Communications Ltd carries total debt of ₹172 Cr against shareholder equity of ₹16,028 Cr as of Jun 26, a debt-to-equity of 0.01 — effectively unlevered. On the annual view that ratio went from 0.02 in FY22 to 0.01 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Jun 26: total debt of ₹172 Cr against shareholder equity of ₹16,028 Cr — a debt-to-equity of 0.01. On the annual view, debt-to-equity went from 0.02 (FY22) to 0.01 (FY26). The returns on this page are earned, not borrowed.
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 added 17.8 points of One 97 Communications Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 24.9% of the company. Foreign institutions moved −10.2 points over the same window, to 48.1%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +17.8 points over 8 quarters to 24.9%; Foreign institutions: −10.2 points over 8 quarters to 48.1%.
Why the register moved: rotation — foreign institutions −10.2 points against domestic institutions +17.8 points over 8 quarters — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
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 97 Communications 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.
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 97 Communications Ltd trades at 143.0× P/E, at the pricey end of its own range (76th percentile). Its long-run median P/E is 127.5×, measured across 0.8 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 143.0× is at the pricey end of its own range (76th percentile), against a long-run median of 127.5× measured over 0.8 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 full against its own past, so the story rests on the earnings line underneath it, not the multiple.
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 97 Communications 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 12 quarters across 2 curves, 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.
Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +22.3% | +1.8% | +24.7% | +25.7% |
| Share price | +48.3% | +25.9% | — | — |
4-Factor Sector Score
53.6/100 — rank 8 of 13 in E-Commerce - Platform - Utility · 87% evidence confidence
One 97 Communications Ltd scores 53.6 out of 100 against the 13 companies it is compared with in E-Commerce - Platform - Utility, ranking 8. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 26.1 + 5.1 + 6.3 + 16.1 = 53.6. 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.
Said versus delivered
What One 97 Communications Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Marketing Services Recovery Guidance Undercut by Full-Year Decline · 7 May 2026. Management explicitly called a quarterly bottom for marketing services in the Nov 2025 call and reconfirmed that view in the Jan 2026 call, stating the business should grow from that point. The May 2026 call revealed that full-year FY26 saw a double-digit decline in marketing services revenue, a fact management accepted without dispute, and no explanation was offered for why the repeated bottom calls proved premature.
🚨 Paytm Check-in Agentic Funnel Conversion Metric Revised Downward Without Explanation · 7 May 2026. In the Jan 2026 call, Vijay specifically cited a 30-percent-plus funnel conversion for Paytm Check-in's agentic interface, calling it phenomenal relative to the OTA industry benchmark of around 1 percent. In the May 2026 call, responding directly to a question about Check-in traction, Vijay described the same agentic funnel as converting at seven to eight times better than the typical 2-3 percent achieved by good product companies, implying roughly 14-24 percent - materially below the 30-percent figure given four months prior with no explanation for the divergence.
Postpaid Disbursement Metrics Voluntarily Disclosed in Jan 2026, Explicitly Refused in May 2026 · 7 May 2026. In the Jan 2026 call, management proactively disclosed specific Postpaid milestones - crossing one lakh customers and projecting 100 crores of monthly disbursal within six months of launch - as positive evidence of a faster ramp than the original product. In the May 2026 call, management explicitly refused to provide any disbursement data, arguing it mischaracterizes Paytm as a credit issuer, with no explanation for why metrics shared as bullish evidence four months earlier can no longer be disclosed.
International Expansion Investment Priority Abandoned Without Update · 7 May 2026. In the Nov 2025 call, international replication of Paytm's technology was explicitly named alongside AI as a co-equal future revenue and growth investment pillar. In the Jan 2026 call, Madhur committed to partnership announcements within three to six months for international markets where entities had already been established. In the May 2026 call - within that committed window - when directly asked whether selective inorganic action would be on international lines, Vijay stated all new investment would be only in AI with no reference to the promised announcements or the international strategy.
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Creative Newtech LtdCNL | 70.7/100Favorable setup87% evidence | LEADER | 28.2/35 Revenue 49.2% · PAT 37% · OPM change 2 pp 95% evidence | 12.2/25 ROCE 18.8% · OPM 5% 95% evidence | 10.3/20 P/E 22.8× · PEG — 50% evidence | 20.0/20 RS sector 29.6% · RS bench 51.2% · 1Y 75.3%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.2 + 12.2 + 10.3 + 20 = 70.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2MPS LtdMPSLTD | 64.5/100Mixed-positive evidence94% evidence | BREAKING OUT | 20.7/35 Revenue 10% · PAT 19% · OPM change 7 pp 100% evidence | 22.0/25 ROCE 38.7% · OPM 34% 100% evidence | 12.9/20 P/E 24.4× · PEG 0.43 100% evidence | 8.9/20 RS sector -13.2% · RS bench 31.1% · 1Y 16.1%10 of 10 weeks ahead 70% evidence |
| Exact sum: 20.7 + 22 + 12.9 + 8.9 = 64.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3MSTC LtdMSTCLTD | 58.3/100Mixed-positive evidence76% evidence | BREAKING OUT | 18.8/35 Revenue 21% · PAT -42.9% · OPM change 5 pp 95% evidence | 20.1/25 ROCE 30.3% · OPM 61% 76% evidence | 9.1/20 P/E 22.2× · PEG — 50% evidence | 10.3/20 RS sector -5.3% · RS bench 42.9% · 1Y 47.5%10 of 10 weeks ahead 70% evidence |
| Exact sum: 18.8 + 20.1 + 9.1 + 10.3 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4RNFI Services LtdRNFI | 58.3/100Mixed-positive evidence74% evidence | TURNING | 19.7/35 Revenue 6.5% · PAT 34.1% · OPM change -0.8 pp 95% evidence | 16.1/25 ROCE 27.3% · OPM 3.9% 95% evidence | 10.1/20 P/E 30.3× · PEG — 15% evidence | 12.4/20 RS sector 2.6% · RS bench 14.8% · 1Y 12.4%2 of 10 weeks ahead 70% evidence |
| Exact sum: 19.7 + 16.1 + 10.1 + 12.4 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Macfos Ltd543787 | 56.8/100Mixed-positive evidence75% evidence | FADING | 16.8/35 Revenue 21.1% · PAT 43.1% · OPM change -1.9 pp 95% evidence | 18.5/25 ROCE 34.2% · OPM 10.6% 76% evidence | 9.9/20 P/E 43.2× · PEG — 15% evidence | 11.6/20 RS sector 5.2% · RS bench 24.6% · 1Y 64.6%8 of 12 weeks ahead 100% evidence |
| Exact sum: 16.8 + 18.5 + 9.9 + 11.6 = 56.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Indiamart Intermesh LtdINDIAMART | 55.4/100Mixed-positive evidence100% evidence | ASLEEP | 16.9/35 Revenue 12.7% · PAT -16.6% · OPM change 0 pp 100% evidence | 19.8/25 ROCE 28% · OPM 32% 100% evidence | 18.7/20 P/E 20.7× · PEG 0.68 100% evidence | 0.0/20 RS sector -30.9% · RS bench -18.6% · 1Y -33.7%0 of 12 weeks ahead 100% evidence |
| Exact sum: 16.9 + 19.8 + 18.7 + 0 = 55.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Pine Labs LtdPINELABS | 55.4/100Mixed-positive evidence63% evidence | BREAKING OUT | 28.9/35 Revenue 19.5% · PAT 100% · OPM change 6 pp 100% evidence | 7.7/25 ROCE 4.2% · OPM 13% 100% evidence | 8.8/20 P/E 180× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —4 of 10 weeks ahead 0% evidence |
| Exact sum: 28.9 + 7.7 + 8.8 + 10 = 55.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8One 97 Communications Ltdthis pagePAYTM | 53.6/100Mixed-positive evidence87% evidence | BREAKING OUT | 26.1/35 Revenue 22.6% · PAT 100% · OPM change 4.2 pp 100% evidence | 5.1/25 ROCE 5% · OPM 8% 100% evidence | 6.3/20 P/E 143× · PEG 2.42 65% evidence | 16.1/20 RS sector 12.8% · RS bench 47% · 1Y 44.1%9 of 10 weeks ahead 70% evidence |
| Exact sum: 26.1 + 5.1 + 6.3 + 16.1 = 53.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Info Edge (India) LtdNAUKRI | 50.7/100Mixed-positive evidence75% evidence | BREAKING OUT | 21.7/35 Revenue 13.8% · PAT 37.1% · OPM change 6 pp 95% evidence | 9.8/25 ROCE 3.5% · OPM 39% 76% evidence | 9.6/20 P/E 55× · PEG — 15% evidence | 9.6/20 RS sector -8.1% · RS bench 7.2% · 1Y -7.1%10 of 12 weeks ahead 100% evidence |
| Exact sum: 21.7 + 9.8 + 9.6 + 9.6 = 50.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10TBO Tek LtdTBOTEK | 45.9/100Mixed-negative evidence87% evidence | BREAKING OUT | 17.0/35 Revenue 69% · PAT 14.2% · OPM change 1 pp 100% evidence | 14.1/25 ROCE 18.3% · OPM 15% 100% evidence | 4.3/20 P/E 67.8× · PEG 6.18 65% evidence | 10.5/20 RS sector -2.5% · RS bench 17.1% · 1Y 8.9%10 of 10 weeks ahead 70% evidence |
| Exact sum: 17 + 14.1 + 4.3 + 10.5 = 45.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Just Dial LtdJUSTDIAL | 33.9/100Adverse evidence87% evidence | BREAKING OUT | 6.6/35 Revenue 7.3% · PAT -16.6% · OPM change -2 pp 100% evidence | 10.5/25 ROCE 7% · OPM 27% 100% evidence | 11.1/20 P/E 10.9× · PEG 1.83 65% evidence | 5.7/20 RS sector -20.6% · RS bench 3.5% · 1Y -18.9%9 of 10 weeks ahead 70% evidence |
| Exact sum: 6.6 + 10.5 + 11.1 + 5.7 = 33.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12One Mobikwik Systems LtdMOBIKWIK | 31.8/100Adverse evidence66% evidence | TURNING | 16.1/35 Revenue 2.7% · PAT 92% · OPM change 18.1 pp 71% evidence | 2.2/25 ROCE -2.3% · OPM 2.9% 95% evidence | 8.5/20 P/E 562× · PEG — 15% evidence | 5.0/20 RS sector -13.8% · RS bench -2% · 1Y -28.6%2 of 10 weeks ahead 70% evidence |
| Exact sum: 16.1 + 2.2 + 8.5 + 5 = 31.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Urban Company LtdURBANCO | 28.8/100Adverse evidence65% evidence | BREAKING OUT | 7.3/35 Revenue 39.6% · PAT -80% · OPM change -14.4 pp 100% evidence | 0.5/25 ROCE -7.8% · OPM -18% 100% evidence | 10.0/20 P/E — · PEG — 0% evidence | 11.0/20 RS sector — · RS bench 23.9% · 1Y -9.7%5 of 10 weeks ahead 25% evidence |
| Exact sum: 7.3 + 0.5 + 10 + 11 = 28.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is One 97 Communications Ltd's share price today?
One 97 Communications Ltd trades at ₹1,808, +48.3% over the past year. The company is valued at ₹1,15,971 Cr. The stock sits at the very top of its 52-week range (₹976–₹1,808), +41.7% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 9 weeks in. — as of 11 September 2026.
What were One 97 Communications Ltd's latest quarterly results?
One 97 Communications Ltd reported revenue of ₹2,448 Cr and net profit of ₹220 Cr for the Jun 26 quarter. Revenue rose 27.6% and profit rose 78.9% year on year. Earnings per share were ₹3.44. The operating margin was 8.0%, 4.2 pp higher than a year earlier. — as of 11 September 2026.
What is One 97 Communications Ltd's revenue?
One 97 Communications Ltd reported revenue of ₹2,448 Cr in the Jun 26 quarter, +27.6% year on year. For the full FY26 fiscal year, revenue was ₹8,437 Cr (+22.3%). Over the last 11 years revenue compounded at 34.5% a year. — as of 11 September 2026.
What is One 97 Communications Ltd's profit?
One 97 Communications Ltd earned ₹220 Cr of net profit in the Jun 26 quarter, +78.9% year on year. Full-year FY26 profit was ₹552 Cr. The operating margin ran 8.0% in the latest quarter. — as of 11 September 2026.
What is One 97 Communications Ltd's market cap?
One 97 Communications Ltd's market capitalisation is ₹1,15,971 Cr at a share price of ₹1,808. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is One 97 Communications Ltd's P/E ratio?
One 97 Communications Ltd trades at a P/E of 143.0×, at the 76th percentile of its own 1-year range, against a long-run median of 127.5×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does One 97 Communications Ltd pay a dividend?
No — One 97 Communications Ltd has recorded a dividend payout of 0% of profit in each of its last 10 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 11 September 2026.
Is One 97 Communications Ltd overvalued?
On its own history, One 97 Communications Ltd looks expensive: its P/E of 143.0× sits at the 76th percentile of its 1-year range (long-run median 127.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 11 September 2026.
Is One 97 Communications Ltd growing?
Yes — One 97 Communications Ltd is growing: latest-quarter revenue +27.6% year on year, profit +78.9%, and the margin +4.2 pp at 8.0%. The earnings engine currently reads: improving — as of 11 September 2026.
How is One 97 Communications Ltd performing?
One 97 Communications Ltd is in a confirmed uptrend, 9 weeks in. Its latest quarter's revenue rose 27.6% and profit rose 78.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 10 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
Is One 97 Communications Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 9 of stage 2), trading +41.7% versus its 200-day average and at the very top of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is One 97 Communications Ltd beating the market?
On recent form, yes — One 97 Communications Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 10 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4.8 years the stock moved +16% against the NIFTY 500's +52% — behind the index over the full window. — as of 11 September 2026.
Will One 97 Communications Ltd's share price go up?
This page publishes no price forecast for One 97 Communications Ltd. What it measures instead: the share price is ₹1,808, the price is in a confirmed uptrend 9 weeks in. Its P/E of 143.0× sits at the 76th percentile of its own 1-year range. — as of 11 September 2026.
Does One 97 Communications Ltd have too much debt?
No — One 97 Communications Ltd's debt-to-equity is 0.01, and operating profit covers the interest bill 26×. FY26 borrowings were ₹172 Cr against equity of ₹16,026 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.
What is One 97 Communications Ltd's capex?
One 97 Communications Ltd spent ₹1,674 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹580 Cr, with ₹11.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is One 97 Communications Ltd's cash flow?
One 97 Communications Ltd consumed ₹743 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹−1,323 Cr). Operating cash was negative while the company reported a profit of ₹552 Cr. Cash-flow resolution for India is annual. — as of 11 September 2026.
Where is One 97 Communications Ltd in its business cycle?
One 97 Communications Ltd's FY26 operating margin was 6.0%, against a 10-year band of −195.0%–6.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 8.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What could break the One 97 Communications Ltd story?
The sharpest disagreement: Foreign institutions moved −10.2 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is One 97 Communications Ltd a stock worth studying right now?
This is not investment advice. The machine read: One 97 Communications Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!