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At Paytm’s 24th Annual General Meeting (AGM), CEO Vijay Shekhar Sharma provided an insightful overview of the company’s progress and future directions, emphasizing India’s leading role in the global payments and digital revolution. Sharma also took the opportunity to extend his gratitude to Prime Minister Narendra Modi for his support and recognition of India’s QR innovation.
India’s Digital Revolution
During the AGM, Sharma lauded India’s advancements in financial technology, stating, “Today, India stands at a stage where the whole world is talking about India’s payments and its digital revolution.” He highlighted the nation’s remarkable progress, noting, “We, as a nation, have leapfrogged to become leaders in financial technology, and now we have the opportunity and obligation to extend that leadership into AI technology.”
Shift in Financial Focus
Sharma also discussed a strategic shift in Paytm’s financial focus from EBITDA before ESOP (Employee Stock Ownership Plan) to Profit After Tax (PAT). He explained, “My board members advised me to shift the focus from EBITDA before ESOP as a benchmark to PAT. We recognize that EBITDA before ESOP, due to its large ESOP charge, provides only a partial picture of our financial health. Our commitment is now to focus on PAT, reflecting our drive towards true profitability.”
AI and Future Directions
Addressing the future, Sharma emphasized the role of artificial intelligence (AI) in shaping industries and affirmed Paytm’s commitment to leading in this domain. “I also see myself as a navigator of the company. Industries will change and will have a profound impact. The power of AI will become exponential. We have become the leader in financial technology and extend the same lead in AI technology,” he said.
Company’s Financial Health and Innovations
Paytm President Madhur Deora provided an update on the company’s financial status, noting a robust balance sheet with a cash reserve of ₹8,500 crore as of FY24. He highlighted Paytm’s aim to integrate half-a-billion Indians into the mainstream economy through technology-driven services. Deora also showcased Paytm’s innovative solutions, such as the Paytm soundbox, which enhances merchant security by announcing only successful transactions and streamlining payment verification.
As Paytm continues to evolve and expand its technological capabilities, Sharma’s remarks underscore the company’s dedication to advancing both financial and AI technologies while steering towards greater profitability.
Sources By Agencies
