MOS Utility Ltd.

MOS Utility Ltd.

NNSE:MOS
6.05
INR
+0.25
(+4.31%)
0.41EPS
23.94P/E
2.50BMarket Cap
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
3.54
2.71
3.1
4.26
7.49
24.68
24.71
12.65
Basic EPS, GAAP
0.05
0.03
0.06
0.23
0.45
0.5
0.7
0.41
Free Cash Flow per Basic Share
-0.38
-0.03
-0.25
0.14
-1.05
0.91
-0.51
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
0.24
0.28
0.34
1.06
2.96
3.42
4.14
4.14
Tangible Book Value per Share
0.08
0.13
0.23
0.87
2.36
2.59
3.13
3.13
Basic Weighted Avg Shares
249
249
249
249
249
249
257
244
Sales/Revenue/Turnover
882
677
773
1,061
1,867
6,155
6,351
3,093
Operating Margin (%)
-1.31
1.06
-0.99
3.9
5.45
3.02
3.71
4.14
Depreciation Expense
15
8
12
21
23
43
48
23
Net Income, GAAP
13
8
16
57
112
125
180
99
Effective Tax Rate (%)
52.28
- -
11.74
22.43
19.04
29.44
23.26
23.85
Profit Margin (%)
1.46
1.25
2.04
5.35
6.02
2.03
2.83
3.2
Working Capital
14
11
-19
154
393
517
404
404
LT Debt
9
11
57
49
50
35
18
18
Total Equity
60
69
84
264
775
902
1,090
1,090
Return on Invested Capital (%)
- -
- -
-3.64
11.52
12.06
10.82
11.34
6.45
Return on Capital (%)
- -
- -
13.21
23.63
17.34
12.35
14.04
8.21
Return on Common Equity (%)
- -
13.14
20.58
32.61
22.44
15.69
18.78
10.34

Capital Structure

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
171
473
697
LT Borrowings
17
13
12
LT Finance Leases
17
10
6
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
249
249
257
Market Capitalization
6,521
5,212
2,497

Working Capital

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
1,061
1,325
1,453
Cash, Cash Equivalents & STI
292
262
570
Accounts Receivable, Net
48
53
38
Inventories
143
157
177
Total Current Liabilities
544
861
1,049
Payables & Accruals
- -
- -
- -
ST Debt
171
473
697
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
93.25%
20.77%
Free Cash Flow
- -
-132.93%
-157.17%
Net Income, GAAP
- -
99.92%
44.28%
Sales/Revenue/Turnover
- -
72.07%
3.19%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1,867
2025
- -
1,598
- -
1,752
6,155
2026
- -
1,560
- -
1,533
6,351

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.45
2025
- -
0.16
- -
0.19
0.5
2026
- -
0.21
- -
0.2
0.7

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -

Company Description

CEO
Atish Shelar
Full Time Employees
162
Sector
Technology services
Industry
Internet software/Services
Address
First Avenue Building Mumbai India 400064
IPO Date
Apr 18, 2023
Business
MOS Utility Ltd (MOS.NS) is a fintech company that provides a unified open API and wallet platform enabling agents to deliver digital financial and utility services across India. Incorporated in 2009 and headquartered in Mumbai, the company operates through Banking Services and Utility Services segments, serving a network of over 150,000 agents, 11,500 distributors, and 900 master distributors nationwide, with a focus on Tier 3-6 towns and rural areas to drive financial inclusion. Its core offerings include instant digital money transfers to bank accounts, AEPS, Micro ATM, and NSDL kiosk services; mobile phone and DTH recharges; utility bill payments for electricity, water, and telecommunications; flight, hotel, and bus bookings; travel, 2-wheeler, 4-wheeler, and health insurance premiums; CMS collections; courier and cargo services; entertainment services; digital marketing; Mera Adhikar portals; and emerging products such as Q-BRIDGE, MOS Digital QR, IRCTC tourism, POS devices, transit and prepaid cards, credit services, and MOS Dhan Vriddhi bundled platform. In recent developments, MOS Utility expanded its scope in 2024 by revising its Memorandum of Association to include solar energy products such as PV modules and batteries, alongside securing a Master Franchisee License from India Post through its subsidiary MOS Logconnect Private Limited for nationwide postal services. The company completed acquisitions of 51% stakes in JC Ventures Private Limited for INR 30.6 million in February 2024 and Indicore Infocomm Private Limited in early 2024, strengthening its service ecosystem. Further, in 2025, it launched new products including Q-BRIDGE, digital lending, insurance distribution, cross-border remittance capabilities, and API-led embedded finance integrations; announced a 1:1 bonus issue with record date in September 2025; reported robust FY25 growth with double-digit revenue increases to over INR 620 crore driven by banking CSP, bill payments, and travel solutions; and aimed to scale its phygital network to 300,000+ active outlets while disbursing over INR 500 crore in loans to more than 1 crore unique customers. Promoter holding stands at approximately 49.5-51.1%, with no dividend payouts despite consistent profitability.