OnMobile Global Ltd(ONMOBILE)

NSE: ONMOBILEBSE: 532944

₹ 50.76-6.02%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 540 crNext results: 28 Oct 2026Website: www.onmobile.comUpdated: 24 Oct 2026

About

OnMobile Global Ltd provides mobile entertainment and gaming products, mainly ringback tones, videos and subscription cloud gaming, sold through telecom operators. Reported revenue for FY26 was 516.85, and gross revenue was INR 5,245 Mn, down 10.2% YoY. International markets made up 98% of revenue in Q1 FY27. Gaming accounted for 32% of revenue in Q1 FY27, up from 23% in Q1 FY26.^[1][2][3]

Business segments

Entertainment & Communications (Tones, Videos) revenue was INR 846 Mn in Q1 FY27, down 6.5% QoQ.^[3]
Gaming revenue was INR 394 Mn in Q1 FY27, up 2.4% QoQ. Gaming's share of revenue was 32% in Q1 FY27, vs 30% in Q4 FY26 and 23% in Q1 FY26.^[3]
Mobile Entertainment revenue was INR 3,700 Mn in FY26, down 1.6% YoY. Mobile Gaming revenue was INR 1,545 Mn in FY26, down 25.4% YoY.^[2]

Products and services

ONMO+ Smart Console is a cloud-gaming console sold with a subscription. It comes with a proprietary controller, is priced below INR 5,000 and includes a 3-month subscription (as of the Q4 FY26 call).^[2]
The Gaming Platform, launched in 2025, brings premium mobile games, HTML5 games, AAA vouchers and esports into one place. It earns money through platform licensing and in-app purchases.^[4]
The Gaming Platform, which is sold on a fixed-fee and licence model, had its first commercial launch with a major client in Africa in December 2025.^[5]
Buzzmo is an enterprise communication product. It was in late-stage talks with 3 prospects in Q3 FY26 and is expected to contribute revenue in FY27, including from BFSI customers in Africa.^[5][2]

Key operating numbers

The gaming subscriber base was 14.3 Mn in Q4 FY26, up 34.5% YoY and up 600K QoQ. It was 13.74 Mn in Q2 FY26.^[2][4]
Monthly recurring revenue (MRR) from gaming subscriptions was $1.60M in Q4 FY26, vs $1.4M in September 2025.^[2][4]
Gaming subscription revenue grew 32.2% in FY26 over FY25.^[2]
Gaming revenue fell 15.1% QoQ in Q4 FY26 because campaigns for the top 5 customers were paused. The campaigns have since restarted.^[2]
Days sales outstanding were 121 days in Q1 FY27, vs 131 days in Q4 FY26.^[3][2]

Customers and distribution

International markets made up 98% of revenue in Q1 FY27, the same 98% as in Q2 FY26.^[3][4]
The company has 100+ telco relationships, and Tones operates across 29 telcos (as of Q4 FY26). One more telco was planned to go live in Q1 FY27.^[2]
A videos and editorial contract with one of the largest customers was renewed for 6 months (Q4 FY26 call).^[2]
6-7 new telco customers were in pipeline discussions for gaming subscription launches as of Q3 FY26.^[5]

Expansion and plans

Gaming revenue is expected to grow 50% in FY27, driven by subscriptions, platform licensing and the console.^[3]
The company targets gaming subscription MRR of $3M within 30 months (Q1 FY27 call).^[3]
The Smart Console is planned to launch internationally in Spain in December 2026, with other geographies to follow in 2027.^[3]
Console distribution is being discussed with retail groups, broadband providers/ISPs, Smart TV and set-top box makers, and more e-commerce platforms.^[3]
Gaming capitalisation was about INR 3.5 crores in FY26. No gaming capex capitalisation is planned for FY27.^[2]
The Tones legacy stack is being moved to a cloud-native platform over 8-10 quarters, one operator at a time.^[2]

Recent developments

The ONMO+ Smart Console launched on Flipkart on June 26, 2026. Early signals: 226 cities reached, and about 1 in 6 activations came organically.^[3]
Q1 FY27 included an exceptional severance cost of INR 141 Mn.^[3]
Q4 FY26 included an impairment provision of INR 468 Mn on a DeOSphere receivable outstanding for more than 365 days. Negotiations with DeOSphere were ongoing.^[2]
The company expects to sell its Chingari stake through a secondary share sale in FY27.^[2]
Management said a QIP or a strategic partner fundraise is possible once the console shows traction (Q4 FY26 call).^[2]

Market Cap

₹540 Cr

High / Low

₹84 / 40

Stock P/E

-9.7

Price / Book

0.9

Book Value

₹59

EPS

₹-1.1

No. of Shares

10.63 Cr

ROCE

-0.2%

ROE

-1.8%

OPM

-0.2%

Debt / Equity

0.11

Sales

₹517 Cr

Net Profit

₹-11 Cr

Promoter holding

47.9%

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