One mobikwik system ltd

MobiKwik is one of the largest mobile wallets and Buy Now Pay Later (BNPL) players in India based on mobile wallet GMV and BNPL GMV, respectively during fiscal 2021. Started in 2009, MobiKwik expanded from digital wallet to online payment platform using UPI, to its 101 million registered users and 3 million e-commerce and billing partners. MobiKwik has four wholly-owned subsidiaries: Zaak e-Payment Services Pvt Ltd, Harvest Fintech Pvt Ltd, MobiKwik Credit Pvt Ltd, MobiKwik Finance Pvt Ltd. Business Model Mobikwik earns money from 3 major segments: 1) Buy Now Pay Later (BNPL) segment– Revenue includes revenue from our BNPL offerings – MobiKwik Zip and Zip EMI and other credit products. MobiKwik Zip product primarily generates revenue in the form of (a) merchant fee collected from a merchant when a user pays with MobiKwik Zip on a merchant platform; (b) one time MobiKwik Zip activation fee collected from a user; and (c) late fees collected from those users who repay their MobiKwik Zip due amount after the due date. BNPL segment also includes revenue from insurtech, wealthtech and fintech products, platform services specifically designed to drive our credit business and amounts received from online promotions on such platforms. The BNPL segment constituted roughly 14% of the total income of the company during FY 2021. 2) Consumer Payments (MobiKwik Wallet) – Revenue includes merchant fee collected from a merchant when a user purchases goods or services on a merchant platform and pays via MobiKwik Wallet. Further, it also includes convenience fees collected from users under certain categories of services. The consumer payments constituted roughly 50% of the total income of the company during FY 2021. 3) Payment gateway (Zaakpay) – Revenue includes merchant fee collected from online merchants (websites/apps) for enabling them to collect payments from their users using multiple payment options including debit and credit cards, wallets, unified payments interface (UPI) and net banking. The payment gateway division constituted roughly 36% of the total income of the company during FY 2021. As per its DRHP, MobiKwik claims to have 101 million registered users, total GMV of Rs 3128 crores, and customer acquisition cost of Rs 11.51 during FY 2021. Registered Address The registered office of the company is located at 5th Floor, HUDA city center, Metro Station, Sec-29, Gurugram, Haryana. Symbol ONE Mobikwik Systems Ltd Face Value ₹ 2 each ISIN INE0HLU01028 DEMAT Status NSDL/CDSL Key Highlights Digital Payment business has strong network effects leading to organic growth across business verticals MobiKwik has high percentage of engaged user base (10 crores registered users) with low CAC (₹ 11.51) Founders have high stakes in business (34.52%). Backed by reputed institutional investors- Bajaj Finance, Sequoia Capital and Net1 Applied Technologies. Financial Highlights Particulars 2020-21 2019-20 2018-19 Total Income (₹ Crores) 302.26 369.85 160.23 PAT (₹ Crores) -111.30 -99.92 147.98 Diluted EPS -22.18 -20.45 -31.01 Book Value per Share (₹) -3.60 -6.31 -0.33 Equity (₹ Crores) -20.01 -30.85 -1.58