PAYTM
One 97 Communications Limited
Payments platform with UPI merchant acquiring, digital wallets and lending distribution
Financial Services›Financial Services›Financial Technology (Fintech)›Financial Technology (Fintech)
paytm.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹1693.50
Market cap
1,08,305 Cr
Stock P/E
166.6
P/B
6.77
ROE (FY26)
3.5%
ROCE (FY26)
3.7%
Operating margin (FY26)
-0.8%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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What you need to know
Paytm (One 97 Communications) sells payment products to Indian merchants, such as QR codes, soundboxes, card machines and payment gateway, and earns fees by distributing loans, insurance and wealth products to consumers and merchants through its app.
Company snapshot
1stBy market cap
Ranked among 12 companies in Financial Technology (Fintech).
What we see
Concerns
- ✗Operating cash flow is negative even though the company shows a profit — the business may not be generating real cash yet.
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Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,519 Cr | 2,851 Cr | 2,267 Cr | 1,502 Cr | 1,660 Cr | 1,828 Cr | 1,912 Cr | 1,918 Cr | 2,061 Cr | 2,194 Cr | 2,264 Cr | 2,448 Cr |
| Operating expenses (approx.) | 2,750 Cr | 3,010 Cr | 2,491 Cr | 2,294 Cr | 2,063 Cr | 2,050 Cr | 2,000 Cr | 1,846 Cr | 1,920 Cr | 2,038 Cr | 2,132 Cr | 2,245 Cr |
| EBITDA | -231 Cr | -159 Cr | -223 Cr | -792 Cr | -403 Cr | -222 Cr | -89 Cr | 72 Cr | 141 Cr | 156 Cr | 132 Cr | 203 Cr |
| OPM % | -9.2% | -5.6% | -9.9% | -52.8% | -24.3% | -12.2% | -4.6% | 3.7% | 6.8% | 7.1% | 5.8% | 8.3% |
| Other income | 144 Cr | 149 Cr | 132 Cr | 138 Cr | 175 Cr | 189 Cr | 224 Cr | 241 Cr | 222 Cr | 212 Cr | 178 Cr | 182 Cr |
| Interest | 7 Cr | 5 Cr | 5 Cr | 4 Cr | 3 Cr | 4 Cr | 5 Cr | 4 Cr | 5 Cr | 4 Cr | 5 Cr | 7 Cr |
| Depreciation | 180 Cr | 201 Cr | 196 Cr | 178 Cr | 179 Cr | 165 Cr | 150 Cr | 166 Cr | 137 Cr | 133 Cr | 132 Cr | 131 Cr |
| Profit before tax | -279 Cr | -221 Cr | -536 Cr | -839 Cr | 939 Cr | -203 Cr | -542 Cr | 127 Cr | 30 Cr | 230 Cr | 194 Cr | 247 Cr |
| Tax % | -4.6% | -0.3% | -2.6% | -0.2% | 0.9% | -2.5% | -0.5% | 3.2% | 30.0% | 2.2% | 5.7% | 10.9% |
| Net profit | -292 Cr | -222 Cr | -550 Cr | -840 Cr | 930 Cr | -208 Cr | -545 Cr | 123 Cr | 21 Cr | 225 Cr | 183 Cr | 220 Cr |
| EPS (₹) | ₹-5.00 | ₹-3.00 | ₹-9.00 | ₹-13.00 | ₹14.59 | ₹-3.27 | ₹-8.47 | ₹1.92 | ₹0.33 | ₹3.52 | ₹2.87 | ₹3.44 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,232 Cr | 3,281 Cr | 2,802 Cr | 4,974 Cr | 7,990 Cr | 9,978 Cr | 6,900 Cr | 8,437 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 7,598 Cr | 5,915 Cr | 4,570 Cr | 7,314 Cr | 9,622 Cr | 10,885 Cr | 8,407 Cr | 7,935 Cr | Sign in free for the trailing twelve months |
| EBITDA | -4,366 Cr | -2,634 Cr | -1,767 Cr | -2,340 Cr | -1,631 Cr | -907 Cr | -1,506 Cr | 502 Cr | Sign in free for the trailing twelve months |
| OPM % | -135.1% | -80.3% | -63.1% | -47.0% | -20.4% | -9.1% | -21.8% | 5.9% | Sign in free for the trailing twelve months |
| Other income | 348 Cr | 260 Cr | 384 Cr | 290 Cr | 410 Cr | 547 Cr | 725 Cr | 854 Cr | Sign in free for the trailing twelve months |
| Interest | 34 Cr | 49 Cr | 35 Cr | 39 Cr | 23 Cr | 24 Cr | 16 Cr | 18 Cr | Sign in free for the trailing twelve months |
| Depreciation | 112 Cr | 175 Cr | 179 Cr | 247 Cr | 485 Cr | 736 Cr | 673 Cr | 568 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -4,232 Cr | -2,958 Cr | -1,698 Cr | -2,385 Cr | -1,743 Cr | -1,390 Cr | -645 Cr | 582 Cr | Sign in free for the trailing twelve months |
| Tax % | 0.2% | 0.5% | -0.2% | -0.5% | -1.9% | -2.3% | -2.8% | 5.2% | Sign in free for the trailing twelve months |
| Net profit | -4,231 Cr | -2,942 Cr | -1,701 Cr | -2,396 Cr | -1,776 Cr | -1,422 Cr | -663 Cr | 552 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹-75.00 | ₹-49.00 | ₹-28.00 | ₹-38.00 | ₹-27.00 | ₹-22.00 | ₹-10.35 | ₹8.66 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | — | — | — | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 58 Cr | 60 Cr | 61 Cr | 65 Cr | 63 Cr | 64 Cr | 64 Cr | 64 Cr |
| Reserves | 5,667 Cr | 8,045 Cr | 6,474 Cr | 14,087 Cr | 12,952 Cr | 13,263 Cr | 14,963 Cr | 15,962 Cr |
| Borrowings | 696 Cr | 209 Cr | 545 Cr | 0.10 Cr | 2 Cr | — | 5 Cr | — |
| Other liabilities | 2,260 Cr | 2,003 Cr | 2,090 Cr | 3,862 Cr | 4,971 Cr | 3,841 Cr | 6,446 Cr | 7,887 Cr |
| Total liabilities | 8,767 Cr | 10,303 Cr | 9,151 Cr | 17,992 Cr | 17,966 Cr | 17,139 Cr | 21,448 Cr | 23,915 Cr |
| Fixed assets (net) | 200 Cr | 262 Cr | 299 Cr | 562 Cr | 829 Cr | 931 Cr | 645 Cr | 645 Cr |
| CWIP | 51 Cr | 13 Cr | 21 Cr | 10 Cr | 7 Cr | 10 Cr | 4 Cr | 7 Cr |
| Investments | 2,849 Cr | 3,740 Cr | 413 Cr | 1,230 Cr | 2,697 Cr | 4,628 Cr | 4,172 Cr | 4,501 Cr |
| Loans & advances | — | — | — | 51 Cr | 6 Cr | 5 Cr | 102 Cr | 400 Cr |
| Trade receivables | 454 Cr | 493 Cr | 471 Cr | 746 Cr | 1,253 Cr | 1,651 Cr | 1,297 Cr | 1,186 Cr |
| Cash & bank | 326 Cr | 423 Cr | 547 Cr | 1,379 Cr | 3,312 Cr | 4,277 Cr | 2,077 Cr | 3,285 Cr |
| Other assets | 4,887 Cr | 5,372 Cr | 7,400 Cr | 14,014 Cr | 9,862 Cr | 5,637 Cr | 13,150 Cr | 13,891 Cr |
| Total assets | 8,767 Cr | 10,303 Cr | 9,151 Cr | 17,992 Cr | 17,966 Cr | 17,139 Cr | 21,448 Cr | 23,915 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | -4,476 Cr | -2,377 Cr | -2,082 Cr | -1,236 Cr | 416 Cr | 651 Cr | -121 Cr | -743 Cr |
| Cash from investing | 1,911 Cr | -1,996 Cr | 1,930 Cr | -5,489 Cr | 2,626 Cr | 318 Cr | -2,043 Cr | 1,719 Cr |
| Cash from financing | 2,111 Cr | 5,160 Cr | -222 Cr | 8,054 Cr | -1,112 Cr | -22 Cr | -53 Cr | -50 Cr |
| Net cash flow | -454 Cr | 787 Cr | -375 Cr | 1,334 Cr | 1,931 Cr | 967 Cr | -2,205 Cr | 1,213 Cr |
| Free cash flow (OCF − Capex) | -4,653 Cr | -2,567 Cr | -2,275 Cr | -1,743 Cr | -290 Cr | -171 Cr | -443 Cr | -1,222 Cr |
Ratios
| Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| ROCE % | -64.5% | -35.1% | -23.6% | -16.6% | -13.2% | -10.3% | -4.2% | 3.7% |
| ROE % | -72.0% | -35.1% | -26.0% | -16.9% | -13.7% | -10.7% | -4.4% | 3.5% |
| Debtor days | 51 | 55 | 61 | 55 | 57 | 60 | 68 | 51 |
| Inventory days | — | — | — | 0 | 0 | 0 | 0 | 0 |
| Days payable | 83 | 68 | 79 | 55 | 39 | 25 | 39 | 38 |
| Cash conversion cycle | -32 | -13 | -17 | -0 | 18 | 35 | 29 | 13 |
| Debt / equity | 0.12 | 0.03 | 0.08 | 0.0000 | 0.0002 | — | 0.0003 | — |
| Current ratio | 2.45 | 3.86 | 3.43 | 3.22 | 3.12 | 3.46 | 2.76 | 2.55 |
| Net debt / EBITDA | — | — | — | — | — | — | — | -6.54 |