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Zaggle Prepaid Ocean Services Limited
(ZAGGLE)
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Rating:59Neutral
Price Target:
₹208.00
▼(-38.18% Downside)
Action:Reiterated
Date:05/19/26
The score is primarily supported by solid growth and a significantly strengthened, low-leverage balance sheet, but it is constrained by negative/volatile cash flow and weak technicals (price below key moving averages with negative MACD). Valuation is moderate based on the provided P/E.
Positive Factors
Recurring SaaS + payment revenue mix
Zaggle’s combined SaaS platform and prepaid/card programs create recurring subscription plus transaction-led revenue. This hybrid model drives higher customer stickiness, predictable retention from enterprise clients, and scalable upside as employee counts and card usage grow over time.
Negative Factors
Weak and volatile cash generation
Negative and inconsistent operating/free cash flow increases execution and financing risk: the business must either improve working-capital conversion or secure external funding to sustain growth, which can dilute returns or constrain investment in product and sales over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring SaaS + payment revenue mix
Zaggle’s combined SaaS platform and prepaid/card programs create recurring subscription plus transaction-led revenue. This hybrid model drives higher customer stickiness, predictable retention from enterprise clients, and scalable upside as employee counts and card usage grow over time.
Read all positive factors
Zaggle Prepaid Ocean Services Limited (ZAGGLE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹28.63B
Dividend YieldN/A
Average Volume (3M)71.37K
Price to Earnings (P/E)20.6
Beta (1Y)1.77
Revenue Growth46.32%
EPS Growth47.80%
CountryIN
Employees301
SectorServices
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)8.48
Shares Outstanding134,458,450
10 Day Avg. Volume45,262
30 Day Avg. Volume71,366
Financial Highlights & Ratios
PEG Ratio0.39
Price to Book (P/B)1.79
Price to Sales (P/S)1.32
P/FCF Ratio-19.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)13.7
Revenue Forecast (FY)₹24.85B
Zaggle Prepaid Ocean Services Limited Business Overview & Revenue Model
Company Description
Zaggle Prepaid Ocean Services Limited, founded in 2011 and headquartered in Mumbai, India, develops cutting-edge financial products and solutions aimed at automating and optimizing business expense management for corporations, small and medium-siz...
How the Company Makes Money
Zaggle primarily makes money by offering enterprise spend-management and employee-benefit solutions that combine software platforms with payment/prepaid card programs. Key revenue streams typically include: (1) SaaS/platform fees charged to corpor...
Zaggle Prepaid Ocean Services Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
84
Very Positive
Cash Flow
32
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.13B | 19.08B | 13.04B | 7.76B | 5.53B | 3.71B |
| Gross Profit | 6.26B | 7.48B | 5.57B | 3.35B | 1.89B | 2.01B |
| EBITDA | 1.77B | 1.85B | 1.41B | 815.51M | 477.27M | 566.45M |
| Net Income | 1.12B | 1.38B | 879.19M | 440.20M | 229.01M | 419.21M |
Balance Sheet | ||||||
| Total Assets | 14.19B | 15.54B | 13.15B | 6.96B | 2.35B | 926.53M |
| Cash, Cash Equivalents and Short-Term Investments | 5.77B | 5.46B | 6.53B | 2.83B | 238.28M | 36.11M |
| Total Debt | 179.99M | 546.34M | 198.78M | 866.27M | 1.41B | 703.11M |
| Total Liabilities | 870.70M | 1.47B | 660.72M | 1.21B | 1.86B | 962.11M |
| Stockholders Equity | 13.11B | 14.04B | 12.48B | 5.75B | 487.51M | -35.58M |
Cash Flow | ||||||
| Free Cash Flow | -752.98M | -1.27B | -477.83M | -1.29B | -317.89M | 125.09M |
| Operating Cash Flow | -343.62M | -201.51M | 197.02M | -827.46M | -156.18M | 200.81M |
| Investing Cash Flow | 770.79M | 347.05M | -4.86B | -3.32B | -181.48M | -98.69M |
| Financing Cash Flow | -38.17M | 484.10M | 4.96B | 4.03B | 526.44M | -122.90M |
Zaggle Prepaid Ocean Services Limited Technical Analysis
Positive
336.45
Price Trends
224.52
Negative
232.80
Negative
291.47
Negative
Market Momentum
-2.93
Negative
50.25
Neutral
56.30
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZAGGLE, the sentiment is Positive. The current price of 336.45 is above the 20-day moving average (MA) of 206.15, above the 50-day MA of 224.52, and above the 200-day MA of 291.47, indicating a neutral trend. The MACD of -2.93 indicates Negative momentum. The RSI at 50.25 is Neutral, neither overbought nor oversold. The STOCH value of 56.30 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ZAGGLE.
Zaggle Prepaid Ocean Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹36.15B | 33.00 | ― | 0.21% | 35.08% | 26.95% | |
66 Neutral | ₹59.32B | 22.25 | ― | 0.27% | 102.88% | 23.20% | |
59 Neutral | ₹28.63B | 20.61 | ― | ― | 46.32% | 47.80% | |
58 Neutral | ₹783.45B | 140.44 | ― | ― | 22.26% | ― | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% |
* Services Sector Average
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Zaggle Prepaid Ocean Services Limited Corporate Events
Zaggle CTO Srikanth Gaddam Resigns from Senior Management Role
May 23, 2026
Zaggle Prepaid Ocean Services Limited has announced the resignation of its Chief Technology Officer, Srikanth Gaddam, a member of the senior management team, citing personal reasons for his departure. His resignation was tendered on May 22, 2026, ...
Exchange Seeks Clarification from Zaggle on March 2026 Quarter Results
May 22, 2026
The stock exchange has requested clarification from Zaggle Prepaid Ocean Services Limited regarding its financial results for the quarter ended March 31, 2026, under Regulation 33 of the SEBI Listing Obligations and Disclosure Requirements. The co...
Zaggle Schedules May 13 Earnings Call to Review Q4 and FY26 Performance
May 10, 2026
Zaggle Prepaid Ocean Services Limited has scheduled an earnings conference call on May 13, 2026, at 5:30 p.m. IST to discuss its operational and financial performance for the fourth quarter and full fiscal year ended March 31, 2026. The call, feat...
Zaggle Enhances Honasa Deal With New Features on Zoyer Platform
May 8, 2026
Zaggle Prepaid Ocean Services Limited has amended its existing Customer Service Agreement with Honasa Consumer Limited, originally signed in February 2025. The amendment, executed on May 8, 2026, provides for the addition of new features to the Za...
Zaggle Signs Three-Year Employee Expense Management Deal With Federal Bank
Apr 17, 2026
Zaggle Prepaid Ocean Services Limited has entered into a three-year agreement with The Federal Bank Limited, under which it will deploy its Zaggle Save employee expense management and benefits solution for the bank. The domestic, non-related-party...
Zaggle Files SEBI Demat Compliance Certificate for March Quarter
Apr 14, 2026
Zaggle Prepaid Ocean Services Limited has submitted to NSE and BSE a compliance certificate from its Registrar and Share Transfer Agent, KFin Technologies Limited, for the quarter ended 31 March 2026. The certificate confirms that details of secur...
Zaggle Publishes Postal Ballot Notice, Enhancing Shareholder Participation
Apr 5, 2026
Zaggle Prepaid Ocean Services Limited has notified the stock exchanges that it has published a postal ballot notice and related e-voting information in leading English and Telugu newspapers. The move underscores the company’s adherence to di...
Zaggle CFO Resigns; Board Names Interim Finance Chief
Apr 3, 2026
Zaggle Prepaid Ocean Services Limited has announced a leadership change in its finance function, with Chief Financial Officer Venkata Aditya Kumar Grandhi resigning from his role effective at the close of business on April 3, 2026. The move prompt...
Zaggle Shareholders Clear ESOP Extension to Subsidiaries via Postal Ballot
Apr 3, 2026
Zaggle Prepaid Ocean Services Limited has secured shareholder approval via a postal ballot to extend the Zaggle Employee Stock Option Scheme 2022 to current and future employees of its subsidiary and associate companies, both in India and overseas...
Zaggle Signs Five-Year Employee Expense Management Deal with Fanuc India
Mar 31, 2026
Zaggle Prepaid Ocean Services Limited has entered into a five-year agreement with Fanuc India Private Limited, under which it will deploy its Zaggle Save employee expense management and benefits solution for the industrial automation company. The ...
Zaggle Recognized Among India’s Leading ESG Entities by Dun & Bradstreet
Mar 30, 2026
Zaggle Prepaid Ocean Services Limited has announced that it has been recognized as one of “India’s Leading ESG Entities” in Dun Bradstreet’s report titled “ESG Horizons: Now and Next 2026.” This recognition und...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.