A few companies including fintech player Mobikwik are facing delays in getting approval from the Securities and Exchange Board of India (SEBI) for their initial public offerings (IPOs) as past share sales by investors/shareholders of these companies have been found to not be compliant with the Companies Act, sources told Moneycontrol.
| Quantity | Rate/Share |
|---|---|
| 100 - 1000 | 570.00 |
| P/E | -40.86 | P/S | 30.99 | P/B | 24.01 |
|---|---|---|---|---|---|
| Industry PE | 21.3 | Face Value | 2 | Book Value | 24.95 |
| Market Cap | 3425.35 Cr | Dividend | 0 | Dividend Yield | 0 % |
About of Mobikwik
Mobikwik is the largest Buy Now Pay Later (BNPL) fintech and one of the largest mobile wallets in India. 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. Their use has since then expanded to include bill payments, e-commerce shopping, food delivery, payments at petrol pumps, large retail chains, pharmacies, Kirana stores, etc.
Overview of Mobikwik
Timeline of Mobikwik Unlisted Share
2008 : Mobikwik was incorporated
2009 : Mobikwik Started payment wallet operations
2010 : Incorporation of Zaak epayments services for payment gateway
2015 : Launched MobiKwik wallet as a payment option for organized and un-organized retail stores
2019 : Launched BNPL and received authorisation to operate as Bharat Bill Payment Operating Unit
2020 : Launched MobiKwik Blue American Express Card in partnership with American Express
2022 : Mobikwik entered into partnership with VISA to launch a prepaid card
Management
Bipin Preet Singh - Founder & CEO
- BTech from IIT Delhi
- Ex-Intel, Ex-Nvidia, Ex-Freescale Semiconductors
Upasana Taku – Co-founder & COO
- BTech from NIT Jalandhar & MSc from Stanford University
- Ex-HSBC, Ex-PayPal
Funding details of Mobikwik Unlisted Share
MobiKwik has raised a total funding of $269M over 22 rounds.
|
Date |
Money Raised |
Lead Investor |
|
June, 2013 |
$5 M |
Peak XV Partners |
|
Feb, 2015 |
$25 M |
Peak XV Partners, Tree Line, Cisco, American Express |
|
April, 2016 |
$50 M |
Peak XV Partners, Tree Line, Cisco, NETI, Mediatek |
|
Aug, 2017 |
$35.2 M |
Bajaj Finserv |
|
March, 2020 |
$30 M |
Bajaj Finserv, Hindustan Times, Pratithi Capital |
|
June, 2021 |
$20 M |
Abu Dhabi Investment Authority, Sparkle Fund |
|
Dec, 2021 |
$14 M |
Bennett, Coleman |
|
Jan, 2023 |
$553 K |
BlackSoil |
Insights of Mobikwik
Financial Insights
(All figures in crores)
|
Particulars |
FY-23 |
FY-22 |
Growth |
|
Total Income |
561 |
543 |
3% |
|
EBITDA |
(56) |
(115) |
51% |
|
EBITDA Margins |
(10%) |
(21%) |
|
|
PAT |
(84) |
(128) |
|
|
PAT Margins |
(15%) |
(23.5%) |
|
|
EPS |
(14.66) |
(23.04) |
|
|
Net worth |
142 |
216 |
|
Total Income increased by 3% primarily due to an increase in revenue from operations from financial services in Fiscal 2023, which was partially offset by a decrease in revenue from operations from payment services. EBITDA margins and PAT margins also improved significantly.
Revenue Split
(All Figures in crores)
|
Particulars |
FY-23 |
FY-22 |
Growth |
|
Financial Services |
285 |
98 |
191.86% |
|
Payment Services |
254 |
429 |
-40.68% |
|
Other Income |
22 |
17 |
30% |
· Mobikwik experienced overall growth in total income, driven by a significant increase in revenue from financial services.
· Mobikwik witnessed a growth of 191% in financial services due to increased focus on distribution of financial services (primarily through MobiKwik ZIP and ZIP EMI products)
· The decline in revenue from payment services was primarily on account of modes of payments skewing towards lower payment processing cost modes, as well as the suspension of their payment gateway business in FY-23.
· Other income also saw a substantial increase due to higher interest income from bank deposits.
Balance Sheet of Mobikwik
Standalone(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 | 31-Mar-2017 |
|---|---|---|---|---|---|---|---|
| Equity | 163.99 | 236.75 | 0.11 | -14.37 | 33.68 | 128.21 | 24.10 |
| Liabilities | 575.59 | 582.56 | 416.04 | 346.64 | 286.77 | 148.24 | 116.51 |
| Total Equity and Liabilities | 739.58 | 819.31 | 416.14 | 332.28 | 320.45 | 276.44 | 140.60 |
| Net Fixed Assets | 14.52 | 9.27 | 0.92 | 0.79 | 1.17 | 0.65 | 0.53 |
| Capital Work-in-progress | 0.00 | 0.00 | 0.00 | 4.35 | 0.00 | 0.00 | 0.00 |
| Other Non current Assets | 206.29 | 206.88 | 100.37 | 15.63 | 18.33 | 7.90 | 5.84 |
| Current Assets | 518.77 | 603.16 | 314.86 | 311.51 | 300.94 | 267.89 | 134.24 |
| Total Assets | 739.58 | 819.31 | 416.14 | 332.28 | 320.45 | 276.44 | 140.60 |
Consolidated(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 | 31-Mar-2017 |
|---|---|---|---|---|---|---|---|
| Equity | 142.70 | 216.53 | -20.01 | -30.85 | 14.98 | 121.38 | 17.00 |
| Liabilities | 571.66 | 619.60 | 443.15 | 368.79 | 314.45 | 190.09 | 126.18 |
| Total Equity and Liabilities | 714.36 | 836.13 | 423.14 | 337.94 | 329.43 | 311.47 | 143.18 |
| Net Fixed Assets | 14.54 | 9.30 | 0.94 | 0.80 | 1.22 | 0.66 | 0.54 |
| Capital Work-in-progress | 0.00 | 0.00 | 0.00 | 4.35 | 4.86 | 0.00 | 0.00 |
| Other Non current Assets | 149.07 | 167.44 | 68.64 | 22.16 | 16.98 | 8.29 | 6.03 |
| Current Assets | 550.75 | 659.39 | 353.56 | 310.62 | 306.36 | 302.51 | 136.61 |
| Total Assets | 714.36 | 836.13 | 423.14 | 337.94 | 329.43 | 311.47 | 143.18 |
Profit and Loss of Mobikwik
Standalone(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 | 31-Mar-2017 |
|---|---|---|---|---|---|---|---|
| Net Revenue | 525.56 | 486.60 | 270.90 | 305.63 | 110.54 | 53.72 | 29.65 |
| Total Operating Cost | 604.33 | 620.80 | 390.80 | 410.23 | 248.32 | 269.90 | 168.50 |
| Operating Profit (EBITDA) | -78.77 | -134.20 | -119.90 | -104.60 | -137.78 | -216.18 | -138.85 |
| Other Income | 21.29 | 24.90 | 20.70 | 21.76 | 19.95 | 15.56 | 10.42 |
| Depreciation and Amortization Expense | 4.27 | 2.07 | 1.31 | 2.66 | 0.64 | 0.53 | 0.59 |
| Profit Before Interest and Taxes | -61.75 | -111.37 | -100.51 | -85.50 | -118.47 | -201.14 | -129.02 |
| Finance Costs | 20.84 | 10.49 | 7.14 | 10.48 | 7.42 | 2.11 | 2.08 |
| Profit Before Tax and Exceptional Items Before Tax | -82.59 | -121.86 | -107.65 | -95.98 | -125.89 | -203.25 | -131.10 |
| Exceptional Items Before Tax | 0.00 | 6.11 | 0.00 | -6.14 | 0.00 | 0.00 | 0.00 |
| Profit Before Tax | -82.59 | -127.97 | -107.65 | -102.12 | -125.89 | -203.25 | -131.10 |
| Profit for the Period from Continuing Operations | -82.59 | -127.97 | -107.65 | -101.37 | -125.89 | -203.25 | -131.10 |
| Profit for the Period | -82.59 | -127.97 | -107.65 | -101.37 | -125.89 | -203.25 | -131.10 |
Consolidated(in ₹ Cr.)
| Category | 31-Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | 31-Mar-2020 | 31-Mar-2019 | 31-Mar-2018 | 31-Mar-2017 |
|---|---|---|---|---|---|---|---|
| Net Revenue | 539.46 | 526.56 | 288.57 | 355.68 | 148.52 | 77.22 | 36.91 |
| Total Operating Cost | 617.04 | 652.51 | 404.07 | 449.63 | 293.13 | 287.82 | 174.57 |
| Operating Profit (EBITDA) | -77.58 | -125.95 | -115.50 | -93.95 | -144.61 | -210.60 | -137.66 |
| Other Income | 21.65 | 16.65 | 13.69 | 14.18 | 11.89 | 8.44 | 7.45 |
| Depreciation and Amortization Expense | 4.28 | 2.09 | 1.31 | 2.70 | 0.68 | 0.53 | 0.60 |
| Profit Before Interest and Taxes | -60.21 | -111.39 | -103.13 | -82.47 | -133.41 | -202.69 | -130.81 |
| Finance Costs | 20.42 | 10.91 | 7.14 | 10.71 | 7.57 | 2.16 | 2.08 |
| Profit Before Tax and Exceptional Items Before Tax | -80.63 | -122.30 | -110.26 | -93.19 | -140.99 | -204.85 | -132.90 |
| Exceptional Items Before Tax | 0.00 | 6.11 | 0.00 | -4.86 | 0.00 | 0.00 | 0.00 |
| Profit Before Tax | -80.63 | -128.41 | -110.26 | -98.05 | -140.99 | -204.85 | -132.90 |
| Income Tax | 3.19 | -0.25 | 1.04 | 1.87 | -3.23 | -1.87 | 0.00 |
| Profit for the Period from Continuing Operations | -83.82 | -128.16 | -111.30 | -99.92 | -137.76 | -202.98 | -132.90 |
| Profit for the Period | -83.82 | -128.16 | -111.30 | -99.92 | -137.76 | -202.98 | -132.90 |
Management of Mobikwik
BIPIN PREET SINGH - Managing Director
Shareholding in the company - 58.21 %
UPASANA RUPKRISHAN TAKU - Director
Shareholding in the company - 41.29 %
ROHIT SHADEJA - Company Secretary
DHRUV CHOPRA - Nominee Director
FAQs of Mobikwik
Press of Mobikwik
6th Jun 2024
Mobikwik to raise less than ?1,000 crore through IPO
Mobikwik is planning to raise “less than ?1,000 crore” through its proposed IPO which is expected to hit the markets next financial year, said Upasana Taku, chairperson and co-founder of the digital banking platform, on Thursday.
6th Jun 2024
Mobikwik to raise less than ?1,000 crore through IPO
Mobikwik is planning to raise “less than ?1,000 crore” through its proposed IPO which is expected to hit the markets next financial year, said Upasana Taku, chairperson and co-founder of the digital banking platform, on Thursday.
Annual Report of Mobikwik
Annual Report 2021-22Annual Report 2020-21
Standalone Annual Report 2022-23
Consolidate Annual Report 2022-23
Company Information of Mobikwik
ISIN: INE0HLU01028
Address: 5TH FLOOR, HUDA CITY CENTRE METRO STATION,SECTOR 29 GURUGRAM HARYANA 122001
Email: partners@mobikwik.com
Phone Number: +91-1246-409190
Date of Incorporation: 20-Mar-2008
Date of Last AGM: 25-Sep-2021
Data as Date: 31-Mar-2022
Source of Data: MCA, Toffler, Probe42