One97 Communications Limited (PAYTM) Fair Value & Analysis
Technology · IN · Market cap ₹860B
Fair value as of: Jul 12, 2026
From 12 valuation models · updated 28 days ago
Fair value updated Jul 12, 2026, revised from ₹181.60 to ₹181.50 (−0.1%) since Jun 24, 2026. Share price +17.8% over the past month.
A solid business, but screening 87% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹215.78). The favourable scenario is already priced in.
- Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.
How to read this chart
57‑month range ₹317.15 – ₹1,799 · fair‑value band ₹141.20 – ₹215.78 · the ₹1,442 price screens above the ₹181.50 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.
Analysis
One97 Communications Limited (PAYTM) currently trades at ₹1,442, while our model-based Fair Value estimate is ₹181.50, implying the stock looks roughly 87.4% overvalued today. The Quality Score stands at 52/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, One97 Communications Limited generated revenue of ₹84.4B at a net margin of 6.6%. Revenue grew 18.4% year over year. It earns a return on equity of 3.6%. The balance sheet holds a net cash position of ₹129B. Fundamentals as of Jul 12, 2026
Our scenario range runs from ₹141.20 (bear case) to ₹215.78 (bull case); at ₹1,442, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades near its 52-week high and 68% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -50% fair-value upside, at -87%, PAYTM screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 12 models by family
Widest divergence: Growth Earnings (₹258.66) versus Dividend Discount (₹11.81). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 74
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
One97 Communications Limited provides payment, commerce and cloud, and financial services to consumers and merchants in India, the United Arab Emirates, Saudi Arabia, and Singapore.
Full company description
One97 Communications Limited provides payment, commerce and cloud, and financial services to consumers and merchants in India, the United Arab Emirates, Saudi Arabia, and Singapore. The company offers payment and financial services, including payment facilitator services, facilitation of consumer and merchant lending to consumers and merchants, wealth management, etc. It also provides marketing services consist of aggregators for digital products, the ticketing business, the provision of voice and messaging platforms to telecom operators, enterprise customers and other businesses, etc. In addition, the company offers mobile recharge; bill payments, such as utility bills, education and money transfers on the app, online payment gateways, as well as offline payment solutions to merchants through QR codes, soundbox, and card machines. Further, it provides digital distribution of credit, insurance, mutual funds distribution, and equity broking services; other services, including ticketing, deals and gift vouchers and advertising services for merchants; and distributes credit cards. Additionally, the company offers lending and wealth management for consumers and merchants; loyalty solutions; and operates a technology platform for origination, loan management, and collection for credit access. One97 Communications Limited was incorporated in 2000 and is headquartered in Noida, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
One97 Communications Limited reported revenue of ₹84.4B in FY2026 versus ₹49.6B in FY2022, a compound +14.2%/yr. Reported net income was ₹5.5B in FY2026.
PAYTM screens 87% overvalued. Compare with Microsoft Corporation →
Peer Group
Software - Infrastructure · 368 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $384.00 | $274.17 | -29% |
| Oracle Corporation ORAC | C$9.08 | C$2.94 | -68% |
| Fortinet, Inc FTNT | $160.78 | $44.96 | -72% |
| Synopsys, Inc 1SNPS | €354.50 | €93.61 | -74% |
| Block, Inc XYZ | A$114.53 | A$70.69 | -38% |
| CoreWeave, Inc CRWV | $79.94 | $44.89 | -44% |
| Range Intelligent Computing Technology Group 300442 | ¥71.60 | ¥34.00 | -53% |
| Oracle Financial Services Software Limited OFSS | ₹11,651 | ₹5,821 | -50% |
| 360 Security Technology Inc 601360 | ¥9.64 | ¥5.05 | -48% |
| PT GoTo Gojek Tokopedia Tbk GOTO | 50.00 IDR | 18.67 IDR | -63% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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