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PAYTM · NSE · Financial Technology (Fintech)

One 97 Communications Ltd

What the numbers mean, from its filings and the exchange. Data as of 13 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: E-Commerce/App based Aggregator
dear low confidence No valuation within 120 days; P/E 161 vs peers 17.4 (24th of 24); P/B 4.7 vs peers 3.4 (16th of 24).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is One 97 Communications's share price today?

One 97 Communications last traded at ₹1,715.00 on the NSE, as of 13 Oct 2026, 4:15 pm IST, up 1.5% on the day, up 35.3% over a year. Its 52-week range is ₹931 to ₹1,856. The live price is in the app.

₹1,715.00 +1.5% today
+35.3% over 1 year · NSE, as of 13 Oct 2026, 4:15 pm IST
59 month-end closes, 30 Nov 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range85% of the way up
Low ₹931High ₹1,856

What is One 97 Communications's market cap?

One 97 Communications's market capitalisation is about ₹1.09 lakh crore: what it would cost to buy every share at today's price. That makes it the 8th largest mid cap company we cover.

₹1.1 L Cr Mid Cap8th largest mid cap company
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: PAYTM
ISIN
INE982J01020
Cap bucket
Mid Cap, 8th largest by market cap
Industry (NSE)
Financial Services › Financial Technology (Fintech)
Listed since
2021
Futures and options
Traded

Is One 97 Communications overvalued?

Dear, with low confidence: no valuation within 120 days; P/E 161 vs peers 17.4 (24th of 24); P/B 4.7 vs peers 3.4 (16th of 24).

Valuation

Latest price and trailing 12 months
P/E 161.02
vs peers 17.4 · 24th of 24
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 4.68
vs peers 3.4 · 16th of 24
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹1.09 lakh Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield Not available
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 29.87
vs peers 1.6 · 17th of 18
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth Not available
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
2 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 59 of 36 months of P/E history

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is One 97 Communications a quality business?

Quality score and risk level are not available yet; Net interest margin 37.1%, Cost to income 91.7%, Return on assets 2.4% in the latest figures.

Quality and risk

Data as of 13 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score Not available
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level Not available
From flags on debt, earnings quality, dilution and price swings. Learn more →

Lender scorecard

Statements through FY2026 (Mar-26)
Basis: consolidated accounts, FY2026 (Mar-26) against FY2025; NSE/BSE XBRL, the Q4 results filing; NIM is revenue from operations less finance costs over average total assets; cost to income is operating expenses over net interest income plus other income; ROA over average total assets; ROE over average equity
Net interest margin 37.1%
vs peers 3.2% · 1st of 17
What a lender earns on its loans and investments less what it pays for deposits and borrowings, as a share of the assets that earn interest (or of all assets where the split is not filed). Learn more →
Gross NPA Not available
Loans on which repayment has stopped, as a share of all loans, before any provision against them; from the latest results filing. Learn more →
Net NPA Not available
Bad loans after the provisions already set aside against them, as a share of loans. Learn more →
Provision coverage Not available
How much of the gross bad loans has already been provided for. Learn more →
Credit cost Not available
The year's provisions for bad loans as a share of the average loan book. Learn more →
Cost to income 91.7%
vs peers 45.9% · 21st of 22
Operating expenses (staff, branches, technology) over net interest income plus other income. Learn more →
Return on assets 2.4%
vs peers 2.3% · 12th of 24
Profit as a share of average total assets. Learn more →
CET1 ratio Not available
Common equity tier 1 capital, the hardest kind, against risk-weighted assets; from the latest results filing. Learn more →
Loan growth YoY Not available
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth YoY Not available
Growth in deposits over the latest fiscal year. Learn more →
CASA ratio Not available
Current and savings account balances as a share of all deposits. Learn more →
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Has One 97 Communications made money for shareholders?

Yes: +35.3% over one year.

Shareholder returns

1-year return +35.3%
Price only
What the share price did over the last 12 months. Learn more →
5-year return Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−0.2%
1M
−2.3%
3M
+21.9%
6M
+52.7%
1Y
+35.3%
3Y
+22.1%
5Y
—
— not available

Is One 97 Communications growing?

Revenue 3 years 3.4% a year; revenue 5 years 13.2% a year. History break: FY2022 step year (revenue +65%, shares +972%) in the 5-year growth figures.

Growth

Statements through FY2026 (Mar-26)
Loan growth Not available
Growth in the loan book over the latest fiscal year. Learn more →
Deposit growth Not available
Growth in deposits over the latest fiscal year. Learn more →
Revenue 3 years 3.4% a year
vs peers 17.1% · 25th of 25
Compound annual growth of revenue over three years. Learn more →
EPS 3 years Not available
Growth in earnings per share, so dilution counts against the company. Learn more →
Revenue 5 years 13.2% a year
Compound annual growth of revenue over five years. Learn more →
History break: FY2022 step year (revenue +65%, shares +972%) in the 5-year growth figures.
EPS 5 years Not available
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
History break: FY2022 step year (revenue +65%, shares +972%) in the 5-year growth figures.

How did One 97 Communications do last quarter?

One 97 Communications reported income of ₹2,448 Cr, up 22.3% on a year earlier and a net profit of ₹220 Cr, down 183.3% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Income, latest quarter₹2,448 Cr
+22.3% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹220 Cr
−183.3% on a year earlier
What was left for shareholders after every cost and tax.

How does One 97 Communications compare with its peers?

Compared with 24 Financial Services (the sector, as the industry was too small); 24th of 24 on P/E.

Compared with 24 Financial Services (the sector, as the industry was too small)

24 companies

One 97 Communications against its peers

Largest 10 of 24 peers, by market cap
CompanyMarket capP/EP/BROE1YQuality 🔒Rank 🔒
One 97 Communications Ltd₹1.1 L Cr161.04.72.4%+35.3%
ICICI Prudential Asset Management Co Ltd₹1.5 L Cr30.033.285.8%+14.8%
Jio Financial Services Ltd₹1.4 L Cr66.75.62.5%−30.8%
Tata Capital Ltd₹1.4 L Cr24.73.49.6%−1.1%
BSE Ltd₹1.4 L Cr47.819.049.1%+34.5%
Cholamandalam Investment & Finance Company Ltd₹1.4 L Cr23.43.819.3%−4.0%
Punjab National Bank₹1.3 L Cr6.10.913.4%−0.8%
Union Bank of India₹1.3 L Cr6.41.016.3%+22.5%
Bank of Baroda₹1.2 L Cr6.70.813.8%−12.2%
HDFC Life Insurance Company Ltd₹1.2 L Cr60.87.211.6%−25.1%
Billionbrains Garage Ventures Ltd₹1.2 L Cr48.311.226.4%+46.7%
Peer median—17.43.417.9%−8.0%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

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Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns One 97 Communications?

One 97 Communications has no promoter holding; it is widely held.

Shareholding pattern

Latest filing, percent of shares
Promoters0.0%
The founders and controlling group.
Foreign institutions48.1%
Overseas funds investing through the FPI route.
Domestic institutions24.9%
Indian insurers, banks, pension and mutual funds together.
Mutual funds17.9%
Indian mutual fund schemes; part of domestic institutions.
Retail and others8.2%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about One 97 Communications?

20 analysts cover One 97 Communications, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

20 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does One 97 Communications do and what is it sensitive to?

Paytm is a fintech platform that operates a payment-led ecosystem offering merchant payment services, financial services distribution (loans, insurance, broking), and marketing services to consumers and merchants across India. Sensitive to: credit cycle and lending partner risk appetite.

Business-model card

FY2025 · 33 verified
1Revenue
2Channels
3Regulators
3Reg. dependencies
3Sensitivities
5Costs
0Geographies

Paytm is a fintech platform that operates a payment-led ecosystem offering merchant payment services, financial services distribution (loans, insurance, broking), and marketing services to consumers and merchants across India. The company earns revenue through transaction fees, commissions from financial partners, and advertising/marketing services.

Revenue engine

1 verified
Payment Services (58.0%)
Merchant payments through QR codes, Soundbox, POS machines, and consumer payments including recharges, bill payments, money transfers via UPI, cards, net banking

Customers & channels

2 verified
Consumer users via Paytm app and website
7.29 crore transacting users (average FY 2024-25) performing payment services, financial services, and marketing transactions pan-India across various age groups
Financial institution partners
Lenders, insurers, and brokers who partner with Paytm for loan origination, insurance distribution, and equity broking; Paytm provides distribution reach and collection infrastructure

Regulators

3 verified
Ministry of Finance, Department of Financial Services
Approves foreign direct investment into payment and financial services companies under Press Note 3/2020 FDI guidelines
Securities and Exchange Board of India (SEBI)
Governs listing obligations, insider trading, corporate governance, disclosure requirements for listed company
Department of Telecom (DoT), India
Collaborates on mobile payment security and digital literacy initiatives

Regulatory dependencies

3 verified
UPI TPAP regulation and multi-bank model
Paytm transitioned to Third-Party Application Provider status under multi-bank model; changes to UPI framework, bank partnerships, or TPAP terms would affect payment services revenue and merchant GMV
Foreign Direct Investment (FDI) guidelines and approval process
Press Note 3/2020 requires RBI payment approval for downstream FDI into payment companies; delays or denial of PA approval would restrict capital flow and investment capacity
Credit cycle and risk policy tightening
Industry-wide credit risk policies and RBI's stance on lending directly affect loan distribution revenue; cautious credit cycle reduces personal loan disbursals

Sensitivities

3 verified
Credit cycle and lending partner risk appetite
Tightening of credit policies reduces loan distribution revenue; recovery in credit cycle drives expansion of merchant and consumer loan offerings
USD foreign exchange rate
10% strengthening of USD against INR would increase loss before tax by INR 8 million; 10% weakening would decrease loss before tax by INR 6 million (immaterial exposure)
Macroeconomic conditions and consumer spending
GDP growth, disposable incomes, and employment levels affect merchant and consumer transaction volumes and payment services demand

Cost inputs

5 verified
Employee costs (non-ESOP)
H2,473 Cr in FY2025, reduced 21% YoY; non-sales employee costs (technology, operations, support) declined 28% YoY through improved AI-driven productivity
Device costs and refurbishment
Operational efficiencies achieved through lowering device costs and ramping refurbishment of old Soundbox and POS devices; contributes to depreciation and amortization reduction
Connectivity and content fees
H2,585 Cr in FY2025 (from H3,381 Cr in FY2024), comprising data transmission and backend content infrastructure costs
2 more statements
Logistic, deployment and collection costs
H2,534 Cr in FY2025 (from H2,674 Cr in FY2024), covering distribution and collection operations for merchant and loan services
Financial guarantee and loss allowance expenses
H3,195 Cr financial guarantee expenses in FY2025 (new); H3,092 Cr loss allowance for financial assets, reflecting risk on distributed loans and credit products
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (20 Jul 2026).

Change log

6 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Results filedQ4 FY2026 results filed.
  3. Results filedQ3 FY2026 results filed.
  4. Results filedQ2 FY2026 results filed.
  5. Results filedQ1 FY2026 results filed.
  6. Results filedQ4 FY2025 results filed.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 59 of 36 months of P/E history.
  • Flags11 of 22 lender flags judged, too few for a risk level; 11 could not be judged.
  • History breakFY2022 step year (revenue +65%, shares +972%) in the 5-year growth figures: those figures span the accounts before and after it.
  • Data gapsDividend yield, PEG on our 3-year EPS growth, Business quality, Quality score, Risk level, Gross NPA and 13 more: not available yet.
Not applicable to a bank, lender or insurer · 12
  • Altman ZAltman Z reads working capital and sales over assets, which a lender's balance sheet does not have.
  • Piotroski F-scorePiotroski's leverage and liquidity checks read deposits and borrowings as weakness.
  • Beneish M-scoreThe Beneish model reads receivables, margins and depreciation that a lender's accounts do not report.
  • Operating marginInterest is a lender's cost of goods, so operating profit before interest is not defined.
  • Interest coverageInterest is a lender's main cost, not a charge on operating profit.
  • Debt to equityBorrowings and deposits are a lender's raw material; gearing is judged by capital adequacy instead.
  • EV/EBITDAEnterprise value adds borrowings to market cap; for a lender borrowings are the business, not a claim on it.
  • FCF yieldOperating cash flow less capex is not free cash flow for a lender: loan growth sits in operating cash flow.
  • Cash conversion cycleA lender's receivables are its loan book, not invoices waiting to be paid.
  • Asset turnoverA lender earns a spread on its assets, not a turnover of them.
  • ROCEEBIT over capital employed reads a lender's interest income against its borrowings; return on assets and return on equity are the lender's measures.
  • ROCE, 10-year averageEBIT over capital employed reads a lender's interest income against its borrowings; return on assets is the lender's measure (HDFC Bank's 1.7% ten-year ROCE means nothing).

What this page rests on

✓8 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓59 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 33 verified

Questions people ask

What is One 97 Communications's share price today?

One 97 Communications last traded at ₹1,715.00 on the NSE, as of 13 Oct 2026, 4:15 pm IST, up 1.5% on the day, up 35.3% over a year. Its 52-week range is ₹931 to ₹1,856. The live price is in the app.

What is One 97 Communications's market cap?

One 97 Communications's market capitalisation is about ₹1.09 lakh crore: what it would cost to buy every share at today's price. That makes it the 8th largest mid cap company we cover.

Is One 97 Communications Ltd a large cap, mid cap or small cap?

One 97 Communications Ltd (PAYTM) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is One 97 Communications Ltd's P/E ratio?

161.02, vs peers 17.4 · 24th of 24. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is One 97 Communications Ltd overvalued?

Dear, with low confidence: no valuation within 120 days; P/E 161 vs peers 17.4 (24th of 24); P/B 4.7 vs peers 3.4 (16th of 24).

How does One 97 Communications Ltd make money?

Paytm is a fintech platform that operates a payment-led ecosystem offering merchant payment services, financial services distribution (loans, insurance, broking), and marketing services to consumers and merchants across India. The company earns revenue through transaction fees, commissions from financial partners, and advertising/marketing services.

Why is there no Altman Z or debt to equity for One 97 Communications?

Borrowing is a bank's or lender's raw material, so those ratios mislead. Net interest margin, gross NPA, return on assets and the capital ratios are shown instead.

Who are One 97 Communications Ltd's peers?

Compared with 24 Financial Services (the sector, as the industry was too small): ICICI Prudential Asset Management Co Ltd, Jio Financial Services Ltd, Tata Capital Ltd, BSE Ltd, Cholamandalam Investment & Finance Company Ltd and 19 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did One 97 Communications do last quarter?

One 97 Communications reported income of ₹2,448 Cr, up 22.3% on a year earlier and a net profit of ₹220 Cr, down 183.3% in the Jun 2026 quarter.

Who owns One 97 Communications?

One 97 Communications has no promoter holding; it is widely held.

What do analysts say about One 97 Communications?

20 analysts cover One 97 Communications, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

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