ONE 97 COMMUNICATIONS PAYTM (PAYTM): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹1,788 latest close · +46.4% over the last 90 sessions

₹1,788 month-end · +35.4% over 12 months

₹1,788 month-end · +104.1% over 3 years

₹1,788 month-end · +5.2% since Nov '21

52-week range ₹930.60 to ₹1855.50 · 1-year volatility 40.1%

Was the rally earned?

+35%share price, 1 yearLower P/E held it back

Mostly yes, with a catch.

Per-share earnings added 88 points, but investors now pay less per rupee of profit (P/E 276.3x to 176.0x), which took 53 points back.
The share count rose 2%.

Net profit growth+91 ptsNet profit rose about 118%, which lifts the price.

P/E change-53 ptsThe P/E fell from 276.3x to 176.0x, which lowers the price.

Share count change-3 ptsShare count rose 2%, which lowers the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with ORACLE FINANCIAL SERVICES SOFT

How rough has the ride been?

Maximum drawdown-82.4%recovered 2026-09

1-year volatility40.1%annualised

Beta vs sector index0.433-year daily, correlation 0.17

Volume spikes2last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-82.4% (2021-11 peak to 2024-05 low, recovered 2026-09)

Most recent volume spikes

2026-10-08: 5.3x the 50-day median, price -5.2% that day

2026-08-10: 7.7x the 50-day median, price +9.9% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE21st▲ 17 pts vs a year ago
Op. margin31st▲ 13 pts vs a year ago
Revenue growth68th▲ 57 pts vs a year ago
EPS growth93rd
Debt/equity ↓80thflat vs a year ago
Cash cycle ↓72nd▲ 21 pts vs a year ago
P/E ↓6thflat vs a year ago
12M momentum94thflat vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~43%annual earnings growth implied by the price

At a P/E of 176.0x, the price would imply about 43.3%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.

Fewer than six years of annual earnings are available, which is too little to measure delivered growth.

“Implied growth” is what the current price would require under our stated assumptions, not what we expect.

What prices imply across Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹1788.00
P/E: 176.0x
ROCE: 5.0%
Market Cap: ₹1.15L cr
Revenue (TTM): ₹8967 cr
P/S: 12.8x
P/B: 7.2x
ROE: 4.1%
Operating Margin: 8.0%
Debt / Equity: 0.0x
12M Momentum: 35.4%

52-week range

₹930.60₹1855.50

93% of the way from its 52-week low to its high

Price risk

1Y volatility

40.1%

Beta vs sector

1-year daily

0.48

Balance sheet & cash

Interest cover

operating profit ÷ interest

34.4x

Share count, 1Y

unchanged

Are profits backed by cash?

2 of 5checks within range3 beyond a threshold

Other income reliance89%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 89.2%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate2%Beyond threshold

Median quarterly effective tax rate over about 2.5 years: 2.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow0 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 0. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-9 daysWithin range

Debtor days are below the median of the previous three fiscal years by 9 days (51 vs 60). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress1% of fixed assetsWithin range

Capital work-in-progress is 1% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, DIIs added 20.8 pts; FIIs trimmed 12.8 pts.
The number of shareholders fell from 10.1 lakh to 7.8 lakh (-23%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters———

FIIs60.9%48.1%-12.8 pts

DIIs4.0%24.9%+20.8 pts

Public and others35.0%27.0%-8.0 pts

Number of shareholders

7.8 lakhshareholders-23% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−12.8%typical 12-month return vs the marketBelow the base rate

We found 50 past situations where a non-financial company looked like ONE 97 COMMUNICATIONS PAYTM today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −25% to +8% vs the market, against −5% for all non-financial companies in the same months.
The analogs' median sat below that base rate (gap −7.9%, 80% range −14.2% to −2.3%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 1 beyond the range shown, drawn at the edge

Similar setups' median

−12.8%

All companies' median

−4.9%

Beat the market

34% vs 45%

50 past situations · 50 companies · 35 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
NAUKRI Technology Services	Aug 2024	173x	4%	+77%	0%	−4%
POLICYBZR Technology Services	Jul 2025	236x	6%	+25%	−18%	−16%
KIOCL Non-Energy Minerals	Jul 2020	181x	3%	+12%	−4%	+50%
PTCIL Producer Manufacturing	Sep 2025	380x	8%	+9%	−11%	+42%
MCX Finance	Nov 2023	109x	13%	+105%	0%	+50%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
ETERNAL Technology Services	Feb 2025	261x	1%	+34%	−27%	−6%
RATEGAIN Technology Services	Jan 2024	126x	10%	+117%	0%	−19%
LMW Producer Manufacturing	Jan 2022	261x	5%	+106%	−3%	+4%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and P/S. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to ONE 97 COMMUNICATIONS PAYTM. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

BEMLBEML

Producer Manufacturing

61%similar

volatilityrevenue growth

CARBORUNDUM UNIVERSALCARBORUNIV

Process Industries

61%similar

operating marginrevenue growth

SYNGENE INTERNATIONALSYNGENE

Commercial Services

56%similar

revenue growthP/E

LMWLMW

Producer Manufacturing

53%similar

ROCEoperating margin

DLFDLF

Finance

52%similar

debt/equitymarket cap

PINE LABSPINELABS

Technology Services

40%similar

P/EROCE

CYIENTCYIENT

Technology Services

33%similar

revenuerevenue growth

ETERNALETERNAL

Technology Services

15%similar

P/Emarket cap

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

26 events since Mar '22

2026
OctPriceVolume reached 5.3x its 50-day median on 2026-10-08; price -5.2% that day.
SepPriceRegained the 2021-11 peak, 28 months after the low.
AugPriceVolume reached 7.7x its 50-day median on 2026-08-10; price +9.9% that day.
JunResultsEPS (TTM) turned positive.
JunPeer rankMoved into the 3rd quartile of Technology Services on operating margin (from the bottom quartile).
AprPriceVolume reached 9.2x its 50-day median on 2026-04-27; price -1.3% that day.
JanPriceVolume reached 8.3x its 50-day median on 2026-01-23; price -9.7% that day.
2025
DecResultsEPS (TTM) turned negative.

Show 18 earlier events

2025
NovPriceVolume reached 18.1x its 50-day median on 2025-11-24; price -0.4% that day.
SepResultsEPS (TTM) turned positive.
JulPriceVolume reached 6.1x its 50-day median on 2025-07-23; price +1.9% that day.
2024
DecInstitutionsFII + DII holding fell 3.4 pts over 2 quarters to 63.8%.
AugPriceVolume reached 7.7x its 50-day median on 2024-08-30; price +12.2% that day.
JunResultsRevenue (TTM) reached a new high of ₹9,978 cr.
MayPriceFell 82% from the Nov 2021 peak to the May 2024 low.
MayPriceVolume reached 21.8x its 50-day median on 2024-05-31; price -4.4% that day.
MarInstitutionsFII + DII holding rose 4.8 pts over 1 quarter to 69.8%.
FebPriceVolume reached 13.2x its 50-day median on 2024-02-06; price +2.9% that day.
2023
DecPriceVolume reached 14.9x its 50-day median on 2023-12-07; price -18.7% that day.
JunResultsRevenue (TTM) reached a new high of ₹7,990 cr.
JunPriceVolume reached 7.8x its 50-day median on 2023-06-08; price +6.2% that day.
FebPriceVolume reached 13.9x its 50-day median on 2023-02-10; price -7.8% that day.
2022
NovSharesShare count is up 8.3% over 12 months.
NovPriceVolume reached 65.6x its 50-day median on 2022-11-17; price -10.3% that day.
AprPriceVolume reached 8.8x its 50-day median on 2022-04-11; price +11.5% that day.
MarPriceVolume reached 17.8x its 50-day median on 2022-03-16; price +7.0% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history61 months · 2021-11 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	176.0x	₹8967 cr	4.1%	5.0%	0.0x
2026-10	160.9x	₹8967 cr	4.0%	5.0%	0.0x
2026-09	165.2x	₹8967 cr	4.0%	5.0%	0.0x
2026-08	198.5x	₹8437 cr	3.4%	5.0%	0.0x
2026-07	155.3x	₹8437 cr	3.4%	5.0%	0.0x
2026-06	132.0x	₹8437 cr	3.4%	5.0%	0.0x
2026-05	—	₹8085 cr	-1.2%	-10.0%	0.0x
2026-04	—	₹8085 cr	-1.2%	-10.0%	0.0x
2026-03	—	₹8085 cr	-1.2%	-10.0%	0.0x
2026-02	—	₹7719 cr	-4.1%	-10.0%	0.0x
2026-01	—	₹7719 cr	-4.1%	-10.0%	0.0x
2025-12	—	₹7719 cr	-4.1%	-10.0%	0.0x
2025-11	276.3x	₹7317 cr	2.0%	-10.0%	0.0x
2025-10	272.6x	₹7317 cr	2.0%	-10.0%	0.0x
2025-09	235.1x	₹7317 cr	2.0%	-10.0%	0.0x
2025-08	—	₹6901 cr	-4.4%	-10.0%	0.0x
2025-07	—	₹6901 cr	-4.4%	-10.0%	0.0x
2025-06	—	₹6901 cr	-4.4%	-10.0%	0.0x
2025-05	—	₹7256 cr	-5.0%	-8.0%	0.0x
2025-04	—	₹7256 cr	-5.0%	-8.0%	0.0x
2025-03	—	₹7256 cr	-5.0%	-8.0%	0.0x
2025-02	—	₹8278 cr	-5.1%	-8.0%	0.0x
2025-01	—	₹8278 cr	-5.1%	-8.0%	0.0x
2024-12	—	₹8278 cr	-5.1%	-8.0%	0.0x
2024-11	—	₹9138 cr	-14.3%	-8.0%	0.0x
2024-10	—	₹9138 cr	-14.3%	-8.0%	0.0x
2024-09	—	₹9138 cr	-14.3%	-8.0%	0.0x
2024-08	—	₹9978 cr	-10.7%	-8.0%	0.0x
2024-07	—	₹9978 cr	-10.7%	-8.0%	0.0x
2024-06	—	₹9978 cr	-10.7%	-8.0%	0.0x
2024-05	—	₹7990 cr	-13.6%	-12.0%	0.0x
2024-04	—	₹7990 cr	-13.6%	-12.0%	0.0x
2024-03	—	₹7990 cr	-13.6%	-12.0%	0.0x
2024-02	—	₹7990 cr	-13.6%	-12.0%	0.0x
2024-01	—	₹7990 cr	-13.6%	-12.0%	0.0x
2023-12	—	₹7990 cr	-13.6%	-12.0%	0.0x
2023-11	—	₹7990 cr	-13.6%	-12.0%	0.0x
2023-10	—	₹7990 cr	-13.6%	-12.0%	0.0x
2023-09	—	₹7990 cr	-13.6%	-12.0%	0.0x
2023-08	—	₹7990 cr	-13.6%	-12.0%	0.0x
2023-07	—	₹7990 cr	-13.6%	-12.0%	0.0x
2023-06	—	₹7990 cr	-13.6%	-12.0%	0.0x
2023-05	—	₹4974 cr	-16.9%	-22.0%	0.0x
2023-04	—	₹4974 cr	-16.9%	-22.0%	0.0x
2023-03	—	₹4974 cr	-16.9%	-22.0%	0.0x
2023-02	—	₹4974 cr	-16.9%	-22.0%	0.0x
2023-01	—	₹4974 cr	-16.9%	-22.0%	0.0x
2022-12	—	₹4974 cr	-16.9%	-22.0%	0.0x
2022-11	—	₹4974 cr	-16.9%	-22.0%	0.0x
2022-10	—	₹4974 cr	-16.9%	-22.0%	0.0x
2022-09	—	₹4974 cr	-16.9%	-22.0%	0.0x
2022-08	—	₹4974 cr	-16.9%	-22.0%	0.0x
2022-07	—	₹4974 cr	-16.9%	-22.0%	0.0x
2022-06	—	₹4974 cr	-16.9%	-22.0%	0.0x
2022-05	—	₹2801 cr	-26.0%	-21.0%	0.1x
2022-04	—	₹2801 cr	-26.0%	-21.0%	0.1x
2022-03	—	₹2801 cr	-26.0%	-21.0%	0.1x
2022-02	—	₹2801 cr	-26.0%	-21.0%	0.1x
2022-01	—	₹2801 cr	-26.0%	-21.0%	0.1x
2021-12	—	₹2801 cr	-26.0%	-21.0%	0.1x
2021-11	—	₹2801 cr	-26.0%	-21.0%	0.1x

Methodology and data notes