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One 97 Communications Ltd

PAYTM NSE
₹1,732.40 +12.40 (+0.72%)
P/E
170.51
View as Markdown
MCP
Close 4 Nov 2026 ₹1,732.40 +411.80 +31.2% 1Y
Start ₹1,320.60

Key Fundamentals

MidcapFintechFinancial Services

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
4.96%
Debt to Equity
0.01
EPS (TTM)
₹10.16
Book Value
₹258.48
Market Cap
—
P/E (TTM)
170.51
P/B
6.70
ROE
4.64%
Dividend Yield
0.00%
EBITDA
₹1,356 Cr
52W High
₹1,855.50
52W Low
₹930.60
Day Range
₹1,696.30 – ₹1,743.00
Volume
22,74,229

Peer Comparison

Financial Services › Fintech › Financial Technology (Fintech)

Paytm peer comparison
Paytm (this company)
₹1,732.40170.51₹1,10,812 Cr6.700.00%4.64%4.96%₹8,967 Cr₹649 Cr
PB FinTech
₹965.0059.60₹43,573 Cr5.740.00%9.75%10.30%₹7,334 Cr₹748 Cr
Pine Labs
₹157.77132.58₹18,322 Cr3.030.00%2.46%4.15%₹2,832 Cr₹127 Cr
Moneyview
₹55.0861.20₹9,400 Cr3.140.00%19.00%18.30%₹985 Cr₹33 Cr
Manipal Payment and Identity Solutions
₹331.3525.29₹7,508 Cr21.080.00%45.10%43.30%₹1,538 Cr₹291 Cr
Seshaasai Technologies
₹318.0519.14₹5,154 Cr3.390.80%23.60%28.00%₹1,506 Cr₹270 Cr
AvenuesAI
₹127.7814.34₹4,438 Cr0.930.04%6.64%7.72%₹9,516 Cr₹322 Cr
Median 7 companies₹318.0559.60₹9,400 Cr3.390.00%9.75%10.30%₹2,832 Cr₹291 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

49 Average

Data confidence 100/100

Category scores

Quality
26
Poor
Returns, margins, earnings quality 22% weight
Valuation
22
Poor
Cheap vs sector & own history 24% weight
Growth
76
Strong
Sales & profit trajectory 9% weight
Financial Health
83
Strong
Solvency, leverage, coverage 9% weight
Momentum
96
Strong
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has delivered good profit growth of 19.4% CAGR over last 5 years
  • Company's median sales growth is 22.3% of last 10 years

Weaknesses

3
  • Stock is trading at 6.61 times its book value
  • Company has a low return on equity of -4.60% over last 3 years.
  • Earnings include an other income of Rs.625 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2512
OscillatorsNeutral252
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
56.54
Neutral
MACD (12,26,9)
0.45
Bullish
SMA (50)
1,694.70
Bullish
SMA (200)
1,315.11
Bullish

As of

Analyst Rating

Based on 22 analysts
BUY82%

18 of 22 analysts rate Buy, 4 Hold, 0 Sell.

As of

BUY
18
82%
HOLD
4
18%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+25.73%
5Y+24.67%
3Y+1.83%
1Y+22.28%
TTM+22.55%

Net profit

Net profit growth by window
10YTurned to profit
5YTurned to profit
3YTurned to profit
1YTurned to profit
TTM+116.33%

Operating cash flow

Operating cash flow growth by window
10YOutflow narrowed by ₹662 Cr
5YOutflow narrowed by ₹1,339 Cr
3YTurned negative
1YOutflow widened by ₹622 Cr
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+201.03 pp
5Y+71.56 pp
3Y+26.52 pp
1Y+27.77 pp
TTM+15.82 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2015₹323 Cr
Mar 2016₹855 Cr
Mar 2019₹3,224 Cr
Mar 2020₹3,279 Cr
Mar 2021₹2,801 Cr
Mar 2022₹4,974 Cr
Mar 2023₹7,990 Cr
Mar 2024₹9,978 Cr
Mar 2025₹6,900 Cr
Mar 2026₹8,437 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2015−₹372 Cr
Mar 2016−₹1,535 Cr
Mar 2019−₹4,231 Cr
Mar 2020−₹2,942 Cr
Mar 2021−₹1,701 Cr
Mar 2022−₹2,396 Cr
Mar 2023−₹1,776 Cr
Mar 2024−₹1,422 Cr
Mar 2025−₹663 Cr
Mar 2026₹552 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹291 Cr
Reported High Mean Low

Analyst consensus here uses a different definition from reported ebitda (they differ 2.3× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.

AI Analysis — Bull vs Bear

Figures as of 29 Oct 2026
AI opinion · based on fundamentals
Risk high

One 97 Communications (Paytm) trades at ₹1,686.5 as of 2026-10-29 with a market cap of ₹1,08,207 Cr. The company has turned profitable with a TTM EPS of ₹10.16 and is virtually debt-free (debt-to-equity of 0.01), but trades at a PE of 166x and 6.52x book value, reflecting stretched valuations relative to current earnings and return ratios.

Bull Case 7
  • Near-zero leverage with a debt-to-equity ratio of just 0.01, providing significant financial flexibility and low balance-sheet risk.
  • Strong TTM revenue growth of 23%, demonstrating continued business momentum and expanding scale in digital payments and financial services.
  • Median sales growth of 22.3% over the last 10 years reflects a durable, long-term top-line compounding track record.
  • Compounded profit growth of 19% CAGR over the last 5 years shows the company's trajectory toward sustainable profitability from earlier loss-making years.
  • TTM profit growth of 263% indicates a sharp inflection in earnings, with ROE turning positive at 5% in the last year versus -5% over 3 years.
  • Stock has delivered a 29% return over the past 1 year and 20% CAGR over 3 years, indicating improving market confidence in the business model.
  • ROCE of 3.68% and ROE of 3.44% are now positive, signalling the company has crossed breakeven on returns and may be on an improving trend.
Bear Case 7
  • Price-to-book of 6.52x is high for a financial services company, especially one with ROE of only 3.44%.
  • Three-year average ROE of -5% and five-year average ROE of -9% indicate the company has historically destroyed shareholder value and profitability is still nascent.
  • Earnings quality is a concern as other income of ₹625 Cr forms a meaningful portion of profits, inflating headline EPS of ₹10.16.
  • Zero dividend yield — the company returns no cash to shareholders, meaning investors rely entirely on capital appreciation at a 166x PE.
  • Three-year compounded sales CAGR of just 2% suggests a period of revenue stagnation, raising questions about the consistency of the recent 23% TTM growth.
  • The stock trades 9% below its 52-week high of ₹1,855.5 but 81% above its 52-week low of ₹930.6, suggesting elevated expectations are already priced in.
  • ROCE of 3.68% is well below the cost of capital for most equity investors, meaning the business is not yet generating economic value added despite turning accounting-profitable.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: A single development this period saw Paytm's subsidiary First Games Technology receive a major reduction in its GST demand from ₹5,712 crore to ₹703.66 crore, removing a potential overhang. With no financial impact on the parent and no negative catalysts in the current news cycle, the near-term picture is steady, though investors will watch for resolution of the remaining ₹703.66 crore liability.

Neutral 1
  • Subsidiary GST demand slashed 88% Oct 13

    GST demand on Paytm subsidiary First Games Technology was reduced from ₹5,712 crore to ₹703.66 crore. One 97 Communications confirmed no incremental financial impact on the parent company.

Quarterly Results

₹ Cr
PAYTM quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
2,342
2,519
2,850
2,267
1,502
1,659
1,828
1,912
1,918
2,061
2,194
2,264
2,448
2,648
Expenses
2,652
2,750
3,014
2,734
2,295
2,063
2,051
2,000
1,846
1,921
2,039
2,132
2,245
2,378
Operating Profit
−311
−231
−163
−467
−794
−404
−223
−88
72
140
155
132
203
—
OPM %
−13%
−9%
−6%
−21%
−53%
−24%
−12%
−4.6%
3.8%
7%
7%
6%
8%
—
Other Income
123
139
149
132
138
1,524
189
−299
224
32
212
199
182
—
Interest
7
7
5
5
4
3
4
5
4
5
4
5
7
7
Depreciation
159
180
201
196
178
179
165
150
166
137
133
132
131
146
PBT
−354
−279
−221
−536
−837
938
−203
−542
126
30
231
194
247
292
Tax %
1%
5%
0%
3%
0%
1%
2%
1%
2%
30%
2%
6%
11%
23%
Net Profit
−358
−292
−222
−550
−840
930
−208
−545
123
21
225
183
220
225
EPS (₹)
−5.63
−4.58
−3.46
−8.65
−13.19
14.58
−3.26
−8.47
1.93
0.33
3.52
2.87
3.44
—

Sep 2026: from the results filed on 26 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
PAYTM profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
323
855
3,224
3,279
2,801
4,974
7,990
9,978
6,900
8,437
8,967
Expenses
683
2,523
7,592
5,964
4,640
7,358
9,634
10,921
8,406
7,936
8,337
Operating Profit
−360
−1,668
−4,368
−2,685
−1,838
−2,384
−1,644
−943
−1,506
501
630
OPM %
−111%
−195%
−135%
−82%
−66%
−48%
−21%
−9%
−22%
6%
7%
Other Income
16
164
280
−45
356
288
410
314
1,551
668
625
Interest
2
1
38
54
38
42
24
26
16.4
18
21
Depreciation
21
28
112
174
178
247
485
736
673
568
533
PBT
−367
−1,534
−4,237
−2,958
−1,698
−2,385
−1,743
−1,390
−645
584
701
Tax %
1%
0%
0%
−1%
0%
0%
2%
2%
3%
5%
—
Net Profit
−372
−1,535
−4,231
−2,942
−1,701
−2,396
−1,776
−1,422
−663
552
649
EPS (₹)
−12.3
−33.2
−72.67
−47.03
−28.04
−36.9
−28.02
−22.3
−10.33
8.64
10.16
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
PAYTM balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
30
46
58
60
60
65
63
64
64
64
Reserves
354
2,751
5,667
8,045
6,474
14,087
12,952
13,263
14,963
15,962
Borrowings
0
15
932
428
612
222
223
177
160
172
Other Liabilities
316
637
2,107
1,769
2,004
3,618
4,727
5,190
6,261
7,717
Total Liabilities
701
3,450
8,764
10,302
9,151
17,991
17,966
18,693
21,448
23,915
Fixed Assets
47
81
841
594
491
914
1,209
1,247
890
906
CWIP
11
59
56
15
24
12
11
14
15
11
Investments
112
2,308
2,849
3,740
413
1,230
2,697
4,628
4,172
4,501
Other Assets
530
1,002
5,018
5,954
8,223
15,836
14,048
12,804
16,371
18,497
Total Assets
701
3,450
8,764
10,302
9,151
17,991
17,966
18,693
21,448
23,915

Cash Flow

₹ Cr
PAYTM cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
−334
−1,405
−4,476
−2,377
−2,082
−1,236
416
651
−121
−743
Investing
−20
−2,229
1,906
−1,997
1,934
−5,484
2,628
338
−2,031
2,006
Financing
459
3,938
2,110
5,160
−222
8,054
−1,112
−22
−53
−50
Net Cash Flow
104
304
−460
786
−371
1,334
1,931
967
−2,205
1,213
Free Cash Flow
−372
−1,515
−4,651
−2,563
−2,270
−1,741
−281
−161
−438
−1,211
CFO/EBITDA
93
87
98
88
123
46
−36
−81
9
−142

Ratios

PAYTM financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
100
53
29
34
61
55
57
60
69
51
Cash Conversion Cycle
100
53
29
34
61
55
57
60
69
51
Working Capital Days
12
−83
195
116
289
162
61
−18
−119
−123
ROCE %
—
−101%
—
−34%
−21%
−22%
−12%
−8%
−10%
5%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Paytm insights

57 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • FIIs 43.52%
  • DIIs 29.51%
  • Others 16.62%
  • Public 10.34%
  • Government 0.01%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Paytm

What does One 97 Communications Ltd do?
Incorporated in 2000, One 97 Communications Ltd is India's leading digital ecosystem for consumers as well as merchants. As of March 31, 2021, the company has a 333 million+ client base and 21 million+ registered merchants to whom it offers payment services, financial services, and commerce and…
Where is One 97 Communications Ltd (PAYTM) listed?
One 97 Communications Ltd trades as PAYTM on the NSE and under code 543396 on the BSE.
Which sector does One 97 Communications Ltd belong to?
One 97 Communications Ltd is classified under the Financial Services sector, in the Fintech industry.
What is the PE ratio of One 97 Communications Ltd?
One 97 Communications Ltd trades at a PE ratio of 170.51 as of 4 Nov 2026, on earnings per share of ₹10.16, against a book value of ₹258.48 per share.
What is the 52-week high and low of One 97 Communications Ltd?
Over the last 52 weeks One 97 Communications Ltd has traded between ₹930.6 and ₹1,855.5 as of 4 Nov 2026.
What is the Return on Equity (ROE) of One 97 Communications Ltd?
One 97 Communications Ltd reported a return on equity of 4.64%. Its debt-to-equity ratio is 0.01.

Company Information

Incorporated in 2000, One 97 Communications Ltd is India's leading digital ecosystem for consumers as well as merchants. As of March 31, 2021, the company has a 333 million+ client base and 21 million+ registered merchants to whom it offers payment services, financial services, and commerce and cloud services.

Website paytm.com
Listed 18 Nov 2021
Face Value ₹1

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