One 97 Communications Ltd. (IN:PAYTM)
:PAYTM
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One 97 Communications Ltd.
(PAYTM)
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Rating:45Neutral
Price Target:
₹980.00
▼(-16.60% Downside)
Action:ReiteratedDate:01/24/26
Overall score is held back mainly by weak financial performance (revenue decline, ongoing losses, and negative operating/free cash flow). Technicals are also bearish with the stock below key moving averages and negative MACD, despite oversold readings. Valuation offers limited support due to a negative P/E and no stated dividend yield.
Positive Factors
Diversified payments and financial-services platform
Paytm's multi‑product platform (consumer payments, merchant acceptance, devices, and third‑party financial product distribution) creates multiple durable revenue channels and cross‑sell opportunities. This structural diversification supports resilience if one segment softens and enables long‑term customer monetization.
Negative Factors
Sharp revenue decline (2024→2025)
A 39% year‑over‑year revenue drop is a structurally negative signal: loss of scale can reduce pricing power, weaken merchant and partner economics, and make fixed costs harder to cover. Sustained top‑line contraction undermines long‑term monetization and strategic options.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified payments and financial-services platform
Paytm's multi‑product platform (consumer payments, merchant acceptance, devices, and third‑party financial product distribution) creates multiple durable revenue channels and cross‑sell opportunities. This structural diversification supports resilience if one segment softens and enables long‑term customer monetization.
Read all positive factors
One 97 Communications Ltd. (PAYTM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹718.77B
Dividend YieldN/A
Average Volume (3M)133.84K
Price to Earnings (P/E)92.3
Beta (1Y)1.47
Revenue Growth-6.78%
EPS Growth11.38%
CountryIN
Employees43,960
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)3.50
Shares Outstanding640,109,700
10 Day Avg. Volume178,675
30 Day Avg. Volume133,839
Financial Highlights & Ratios
PEG Ratio1.44
Price to Book (P/B)3.39
Price to Sales (P/S)7.56
P/FCF Ratio-115.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,312.50Price Target Upside11.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)18.91
Revenue Forecast (FY)₹104.03B
One 97 Communications Ltd. Business Overview & Revenue Model
Company Description
One97 Communications Limited provides payment, commerce and cloud, and financial services to consumers and merchants in India. The company provides payment and financial services, which primarily includes payment facilitator services, facilitation...
How the Company Makes Money
Paytm primarily earns revenue from a mix of payments-related services, merchant subscriptions and device-led offerings, and distribution of financial products. (1) Payments and merchant services: The company generates income from providing payment...
One 97 Communications Ltd. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
60
Neutral
Cash Flow
35
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 75.58B | 67.41B | 98.70B | 79.04B | 49.63B | 28.02B |
| Gross Profit | 26.38B | 16.17B | 29.54B | 20.25B | -7.23B | -6.49B |
| EBITDA | 487.00M | 438.00M | -6.30B | -12.34B | -20.98B | -14.85B |
| Net Income | -6.04B | -6.59B | -14.17B | -17.76B | -23.93B | -16.96B |
Balance Sheet | ||||||
| Total Assets | 225.37B | 214.48B | 171.39B | 179.66B | 179.92B | 91.51B |
| Cash, Cash Equivalents and Short-Term Investments | 129.29B | 106.81B | 75.80B | 81.60B | 46.47B | 30.24B |
| Total Debt | 2.74B | 1.60B | 1.77B | 2.23B | 2.21B | 6.12B |
| Total Liabilities | 72.27B | 64.51B | 38.41B | 49.73B | 38.62B | 26.35B |
| Stockholders Equity | 153.40B | 150.27B | 133.27B | 130.16B | 141.52B | 65.35B |
Cash Flow | ||||||
| Free Cash Flow | -1.58B | -4.43B | -1.71B | -2.90B | -17.43B | -22.75B |
| Operating Cash Flow | 440.00M | -1.21B | 6.51B | 4.16B | -12.36B | -20.82B |
| Investing Cash Flow | -3.73B | -20.43B | 3.18B | 26.25B | -54.89B | 19.30B |
| Financing Cash Flow | -240.00M | -527.00M | -221.00M | -11.12B | 80.53B | -2.22B |
One 97 Communications Ltd. Technical Analysis
Neutral
1175.05
Price Trends
1094.71
Positive
1196.53
Negative
1172.83
Negative
Market Momentum
0.48
Negative
55.66
Neutral
87.11
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PAYTM, the sentiment is Neutral. The current price of 1175.05 is above the 20-day moving average (MA) of 1037.81, above the 50-day MA of 1094.71, and above the 200-day MA of 1172.83, indicating a neutral trend. The MACD of 0.48 indicates Negative momentum. The RSI at 55.66 is Neutral, neither overbought nor oversold. The STOCH value of 87.11 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:PAYTM.
One 97 Communications Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹631.49B | 27.42 | ― | 5.05% | 2.78% | -5.10% | |
70 Outperform | ₹229.91B | 982.29 | ― | 1.26% | 0.29% | 7.17% | |
68 Neutral | ₹30.63B | 11.31 | ― | 1.54% | 6.36% | -54.41% | |
65 Neutral | ₹255.77B | 19.80 | ― | 1.88% | -12.65% | -42.72% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | ₹280.92B | -294.01 | ― | ― | 30.27% | 65.87% | |
45 Neutral | ₹718.77B | 92.25 | ― | ― | -6.78% | 11.38% |
* Technology Sector Average
IN:PAYTM
One 97 Communications Ltd.
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One 97 Communications Ltd. Corporate Events
Paytm marginally increases share capital after ESOP-based allotment
Apr 1, 2026
One 97 Communications Ltd. has allotted 63,995 new equity shares to eligible employees following the exercise of vested stock options under its 2019 and 2008 employee stock option schemes. The shares, with a face value of ₹1 each and an exer...
One 97 Says Gaming Arm Gets ₹142 Crore Loan Waiver With No Hit to Finances
Mar 27, 2026
One 97 Communications Ltd. disclosed that its step-down subsidiary, First Games Technology Pvt. Ltd., has received a loan waiver of about ₹142 crore, including accrued interest, from shareholder AGTech Media Holdings Ltd. The waiver follows ...
Paytm sees immaterial impact as NPCI cuts RuPay credit card UPI app fees
Mar 11, 2026
One 97 Communications Ltd said the National Payments Corporation of India has cut TPAP and payer PSP fees on RuPay credit card transactions made via UPI, reducing app-side revenue from consumer payments but leaving merchant acquiring income untouc...
Paytm Subsidiary Secures Renewal of IRDAI Insurance Broking Licence
Feb 10, 2026
One 97 Communications Ltd., operator of the Paytm digital payments and financial services platform, also runs Paytm Insurance Broking Private Limited as a wholly owned subsidiary engaged in distributing life and general insurance products. The com...
Paytm Receives RBI Compounding Order on FEMA Matters With No Material Financial Impact
Feb 2, 2026
One 97 Communications Limited (Paytm) has disclosed that it received a compounding order from the Reserve Bank of India under the Foreign Exchange Management Act (FEMA), relating to past investments involving its subsidiary Little Internet Private...
Paytm Explains PIDF Incentive Exposure, Sees Limited Long-Term Impact if Scheme Ends
Jan 23, 2026
One 97 Communications Ltd. has clarified that it has been recognising incentives under the Reserve Bank of India’s Payment Infrastructure Development Fund (PIDF) scheme for qualifying expenditure on deploying payment acceptance devices in Ti...
One 97 Communications Sets Board Meet and Earnings Call for Q3 FY2026 Results
Jan 16, 2026
One 97 Communications has scheduled a meeting of its Board of Directors on 29 January 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter and nine months ended 31 December 2025. The company will...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.