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Paytm

PAYTM NSE

Key Fundamentals

LargecapFintechFinancial Services
Market Cap
1.1L Cr
Volatility
Moderate
P/E Ratio
177.9
EBITDA
₹1,356 Cr
Return on Equity
3.44%
Debt to Equity
0.01
Book Value
₹249.78
EPS
₹0
52W High
₹1,758.9
52W Low
₹930.6

Tapetide Score

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

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 7.22 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.

Growth Rate

Revenue Growth
21.85% higher than 3Y
Net Income Growth
-183% lower than 3Y
Cash Flow Change
-514% lower than 3Y
ROE
-178% lower than 3Y
ROCE
-189% lower than 3Y
EBITDA Margin (Avg.)
-242% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 2h ago
AI opinion · based on fundamentals
Risk high

One 97 Communications (Paytm) trades at a market cap of ₹1,11,982 Cr with a PE of 171.8x and PB of 6.96x. The company turned ROE positive at 5% in the last year after years of losses, while TTM sales growth stands at 23% and TTM profit growth at 263%. The company is almost debt free but earnings quality is tempered by ₹625 Cr of other income.

Bull Case 7
  • TTM revenue growth of 23% signals a reacceleration after a 3-year CAGR of just 2%, suggesting the business has navigated recent regulatory disruptions
  • TTM profit growth of 263% marks a sharp inflection toward profitability after sustained losses
  • ROE turned positive at 5% in the last year versus a negative 5% three-year average, indicating an improving return profile
  • Company is almost debt free, giving it financial flexibility and reducing balance sheet risk in a rising-rate environment
  • 10-year median sales growth of 22.3% demonstrates a long track record of top-line expansion in a large addressable digital payments market
  • 5-year compounded profit CAGR of 19.4% shows the trajectory toward sustainable earnings even through periods of heavy investment
  • Stock has delivered a 1-year return of 48% and 3-year CAGR of 28%, reflecting improving market sentiment around the turnaround narrative
Bear Case 8
  • PE of 171.8x is extremely elevated, pricing in significant future earnings growth that may take years to materialize
  • PB of 6.96x (cited as 7.22x) is high for a financial services company that has only recently turned profitable
  • 3-year average ROE of -4.60% highlights that the company has destroyed shareholder value over a meaningful period
  • Earnings include ₹625 Cr of other income, raising questions about the quality and sustainability of reported profits
  • Zero dividend yield means shareholders are entirely dependent on capital appreciation with no income cushion
  • 5-year ROE average of -9% underscores that the path to consistent positive returns on equity is still unproven
  • 3-year compounded sales CAGR of just 2% reveals a period of near-stagnation, likely tied to the RBI supervisory action on Paytm Payments Bank
  • 10-year compounded profit CAGR of only 9% despite 26% sales CAGR over the same period indicates historically poor operating leverage and margin conversion

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

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Headwinds 2
  • Resilient sells 3% stake Aug 20

    Resilient Asset Management B.V. sold 19.2 million shares in open market, reducing its holding to 7.2%. PAC group total stake now at 16.33%.

  • Resilient proposes 4.98% block sale Aug 17

    Resilient Asset Management plans to sell up to 4.98% stake via block trade, signaling continued unwinding by Antfin-linked entities. Economic value retained by Antfin under OCD agreement.

Positives 1
  • AI investments to boost revenue Sep 9

    One 97 Communications confirmed ongoing work on AI skills aimed at boosting revenue. No undisclosed major corporate events were flagged.

Neutral 2
  • BRSR scope expanded for FY26 Aug 21

    FY26 Business Responsibility and Sustainability Report now includes subsidiary PPSL, reflecting the transfer of offline merchant payments business.

  • 26th AGM scheduled Sep 15 Aug 18

    One 97 Communications scheduled its 26th Annual General Meeting for September 15, 2026, to be held via video conferencing per SEBI regulations.

TL;DR: The main development is continued stake reduction by Antfin-linked Resilient Asset Management, which sold 19.2 million shares and proposed a further 4.98% block trade — a potential overhang on the stock. On the positive side, Paytm is investing in AI capabilities to drive future revenue growth. Governance and reporting steps like BRSR expansion and AGM scheduling are routine. The near-term risk is supply-side pressure from promoter-group selldowns, but fundamentals appear stable if AI-led monetization gains traction.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
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
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
Depreciation
159
180
201
196
178
179
165
150
166
137
133
132
131
PBT
-354
-279
-221
-536
-839
938
-203
-542
126
30
230
194
247
Tax %
1%
5%
0%
3%
0%
1%
2%
1%
2%
30%
2%
6%
11%
Net Profit
-358
-292
-222
-550
-840
930
-208
-545
123
21
225
183
220
EPS in Rs
-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
Figures in ₹ Crores

Profit & Loss

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
17
19
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
582
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 in Rs
-123
-332
-727
-470
-280
-36.9
-28.02
-22.3
-10.33
8.64
10.16
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

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
Figures in ₹ Crores

Cash Flow

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/OP
93
87
98
88
123
46
-36
-81
9
-142
Figures in ₹ Crores

Ratios

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

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55 extracted metrics + investor summaries across FY15–FY27.

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Shareholding Pattern

Public10.46%FIIs48.08%Others16.59%DIIs24.87%As ofJun 2026

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 c...
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 market capitalisation of One 97 Communications Ltd?
One 97 Communications Ltd has a market capitalisation of ₹1,11,982 Cr, which places it in the Large Cap band.
What is the PE ratio of One 97 Communications Ltd?
One 97 Communications Ltd trades at a PE ratio of 177.90, on earnings per share of ₹0, against a book value of ₹249.78 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 ₹1,758.9.
What is the Return on Equity (ROE) of One 97 Communications Ltd?
One 97 Communications Ltd reported a return on equity of 3.44%. 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.[1]

Website paytm.com
Listed 2021-11-18
Face Value ₹ 1
Issued Size 63,95,39,256

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