OnEMI Technology Solutions LimitedQ1 FY27 Results & Financial Update
OnEMI Technology Solutions Limited: Q1 FY27 consolidated results and company financials – revenue ₹669.50 Cr, PAT ₹95.08 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore OnEMI Technology Solutions Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Total Assets Under Management (AUM) crossed the ₹8,000 crore milestone, reaching ₹8,001 crore, which represents a 61% year-on-year expansion and a 13% sequential increase driven by continued portfolio growth across personal loans and secured lending.
The company successfully completed its Initial Public Offering (IPO) in May 2026, raising ₹850 crore in fresh issue capital, which substantially strengthened the balance sheet, pushed net worth to ₹2,245 crore, and lowered the group's on-book debt-to-equity ratio to 0.91x.
Financing costs for the quarter rose to ₹81.88 crore, reflecting larger borrowing volumes, while impairment costs on financial instruments stood at ₹128.09 crore, keeping profitability resilient with a return on average assets (RoAAUM) of 5.05%.
Profit after tax was ₹95.08 Cr for the reported quarter. EPS was ₹5.88 for the reported quarter.
01 · Business model
What does OnEMI Technology Solutions do?
OnEMI Technology Solutions Limited operates as a full-stack digital lending platform in India under the Kissht brand, catering to mass-market and mass-affluent consumer segments with personal loans and secured lending products.
The group conducts its lending operations primarily through its subsidiary NBFC, Si Creva Capital Services Private Limited, deploying proprietary AI/ML models across underwriting, fraud detection, and automated collections.
Revenue engines combine digital personal loans ranging from 6 months to 60 months with a rapidly scaling Loan Against Property (LAP) portfolio, supported by a mix of on-book lending and off-book co-lending/direct assignment arrangements.
The distribution network spans over 17,000 pin codes via a pan-India digital footprint, e-commerce partnerships, merchant QRs, and a dedicated network of LAP branches.
02 · Historical context
What shaped the business before this quarter
The company was incorporated in 2017 and registered its operating subsidiary Si Creva Capital Services as an NBFC with RBI, subsequently launching the Kissht mobile application for direct-to-consumer digital lending.
During FY22 and FY23, the group expanded merchant-led financing, longer-tenure loan offerings, and scaled off-book lending partnerships, leading to Si Creva's classification as a Middle Layer NBFC under RBI scale-based regulations.
In FY24, the company launched its Loan Against Property (LAP) product to diversify secured lending exposure, subsequently deploying advanced AI-led underwriting models and onboarding brand ambassador Sachin Tendulkar in FY25.
The company completed its IPO and successfully listed its equity shares on the National Stock Exchange and BSE Limited on May 8, 2026, marking a major milestone in its corporate evolution.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹669.50 Cr |
| Total income | ₹676.56 Cr |
| Profit before tax | ₹127.70 Cr |
| Profit after tax | ₹95.08 Cr |
| EPS | ₹5.88 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 14.2% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 19.1% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹7.05 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Total AUM reached ₹8,001 crore, up 61% year-on-year and 13% sequentially, driven by robust demand for digital personal loans and expanding secured loan books.
Loan Against Property (LAP) AUM scaled to ₹617 crore, accounting for 7.7% of total AUM as of June 2026 compared to 2.5% a year ago, improving portfolio granularity.
Active customers expanded to 3.49 million, representing a 111% increase year-on-year, while cumulative customers served reached 12.25 million.
What drove margins
Average cost of borrowings for on-book debt stood at 14.45% across 45+ active lending partners, with management expecting borrowing costs and operating expenses as a percentage of average AUM to moderate with scale.
05 · Demand, customers & order book
Where demand is coming from
The customer base is young, with 72% of users under the age of 35 (average age 32 years) and a median CIBIL score of 746; 53% are self-employed and 47% are salaried.
Registered app sign-ups reached 68.55 million in FY26, with 11.76 million customers served cumulatively and 8.10 million categorized as strong credit cross-sell worthy customers.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
PL AUM stood at ₹7,384 crore (92.3% of total AUM), maintaining a 100% digital operating model with ticket sizes up to ₹5 lakhs and tenures up to 5 years.
LAP AUM reached ₹617 crore (7.7% of total AUM), serviced through 101 LAP branches across 8 states and union territories with an average LTV of 48%.
Geography and market mix
The platform covers over 17,000 pin codes across India, with 78% of PL customers residing in the top 100 cities by loan volume.
LAP branches are established across 8 states and UTs, with principal concentrations in Maharashtra, Gujarat, Tamil Nadu & Puducherry, Telangana, and Uttar Pradesh & Uttarakhand.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The company incorporated a wholly owned subsidiary named 'Invincible Minds Private Limited' on June 17, 2026, to carry on the distribution of mutual fund products and other financial services.
Integration of proprietary AI, GenAI, and agentic AI capabilities across customer acquisition, fraud detection, credit decisioning, and collections workflows to drive operating efficiencies.
08 · Reported developments
What changed operationally
Completed Initial Public Offering and listed on NSE and BSE on May 8, 2026, raising ₹850 crore in fresh capital with strong institutional backing.
09 · Items worth noticing
The line items that can distort a quick read
The group recognized an amortised share-based payment expense of ₹50.75 million (standalone ₹9.34 million) for the quarter ended June 30, 2026, under its ESOP schemes.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Subsidiary Si Creva Capital Services issued and allotted 32,500 secured, rated, listed, redeemable NCDs aggregating to ₹325 crore on July 13, 2026, listed on BSE on July 15, 2026.
Total on-book borrowings stood at ₹2,043 crore as of June 30, 2026, comprising 56% non-convertible debentures, 36% term loans, 6% pass-through certificates, and 2% other instruments.
11 · Management guidance & targets
What management is targeting from here
Management stated in the CEO letter that the company continues to track towards its FY27 guidance, supported by operating performance and disciplined execution.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Brand Ambassador Association
The association with cricket icon Sachin Tendulkar has strengthened Kissht's mass-market and mass-affluent brand positioning and reinforced customer credibility.
13 · Previous-quarter changes
What changed since the previous quarter
AUM expanded by 13% sequentially from ₹7,066 crore in Q4 FY26 to ₹8,001 crore in Q1 FY27.
Net worth increased sharply to ₹2,245 crore following the IPO capital injection, down from an on-book debt-to-equity ratio of 1.8x in March 2026 to 0.9x in June 2026.
14 · Key Q&A
The quarter, answered directly
What does OnEMI Technology Solutions do?
OnEMI Technology Solutions Limited operates as a full-stack digital lending platform in India under the Kissht brand, catering to mass-market and mass-affluent consumer segments with personal loans and secured lending products.
What is the clearest takeaway from Q1 FY27?
Total Assets Under Management (AUM) crossed the ₹8,000 crore milestone, reaching ₹8,001 crore, which represents a 61% year-on-year expansion and a 13% sequential increase driven by continued portfolio growth across personal loans and secured lending.
What drove revenue or demand?
Total AUM reached ₹8,001 crore, up 61% year-on-year and 13% sequentially, driven by robust demand for digital personal loans and expanding secured loan books.
What mattered most for margins or profitability?
Average cost of borrowings for on-book debt stood at 14.45% across 45+ active lending partners, with management expecting borrowing costs and operating expenses as a percentage of average AUM to moderate with scale.
What changed operationally beyond the headline numbers?
The company incorporated a wholly owned subsidiary named 'Invincible Minds Private Limited' on June 17, 2026, to carry on the distribution of mutual fund products and other financial services.
What is management guiding or targeting from here?
Management stated in the CEO letter that the company continues to track towards its FY27 guidance, supported by operating performance and disciplined execution.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Secured Portfolio Scaling: Monitor the continued scale-up of the Loan Against Property (LAP) segment toward management's target of increasing its share within the overall AUM mix.
- 02
New Subsidiary Operations: Track the commercial rollout and business contribution of the newly incorporated mutual fund distribution subsidiary, Invincible Minds Private Limited.
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Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.