Zaggle Prepaid Ocean Services Limited (IN:ZAGGLE)
:ZAGGLE
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Zaggle Prepaid Ocean Services Limited
(ZAGGLE)
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Rating:69Neutral
Price Target:
₹257.00
▼(-23.61% Downside)
Action:ReiteratedDate:04/03/26
The score is primarily supported by strong financial performance (notably revenue growth, healthy margins, and improving cash flows with low leverage). Offsetting this, technicals are mixed with negative MACD and the stock trading below key longer-term moving averages, while valuation looks relatively expensive at a ~32 P/E with no dividend yield provided.
Positive Factors
High revenue growth
Sustained ~46% revenue growth indicates accelerating product adoption and expanding enterprise use of Zaggle’s SaaS and payments platforms. Over 2–6 months this supports recurring revenue scale, strengthens pricing leverage, and funds reinvestment in product and sales motions.
Negative Factors
Return on equity needs improvement
A relatively modest ROE versus peers suggests the company isn’t yet fully converting equity into shareholder returns. Over 2–6 months this implies potential underutilization of capital and pressure to improve margins, pricing, or capital allocation to lift long-term shareholder value.
Read all positive and negative factors
Positive Factors
Negative Factors
High revenue growth
Sustained ~46% revenue growth indicates accelerating product adoption and expanding enterprise use of Zaggle’s SaaS and payments platforms. Over 2–6 months this supports recurring revenue scale, strengthens pricing leverage, and funds reinvestment in product and sales motions.
Read all positive factors
Zaggle Prepaid Ocean Services Limited (ZAGGLE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹31.59B
Dividend YieldN/A
Average Volume (3M)71.37K
Price to Earnings (P/E)32.1
Beta (1Y)1.77
Revenue Growth47.25%
EPS Growth45.37%
CountryIN
Employees301
SectorServices
Sector StrengthN/A
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)2.77
Shares Outstanding134,458,450
10 Day Avg. Volume45,262
30 Day Avg. Volume71,366
Financial Highlights & Ratios
PEG Ratio0.70
Price to Book (P/B)3.58
Price to Sales (P/S)3.43
P/FCF Ratio-93.60
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)14.6
Revenue Forecast (FY)₹24.36B
Zaggle Prepaid Ocean Services Limited Business Overview & Revenue Model
Company Description
Zaggle Prepaid Ocean Services Limited builds financial products and solutions to manage the business expenses of corporates, small and medium-sized enterprises, and startups through automated workflows. It operates Propel, a corporate software-as-...
How the Company Makes Money
Zaggle primarily makes money through a combination of (1) SaaS/platform revenues and (2) payment/prepaid program economics tied to card-based spends. On the SaaS side, it charges enterprises subscription and/or usage-based fees for its expense man...
Zaggle Prepaid Ocean Services Limited Financial Statement Overview
Summary
Income Statement
88
Very Positive
Balance Sheet
75
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.13B | 13.04B | 7.76B | 5.53B | 3.71B | 2.40B |
| Gross Profit | 6.26B | 5.57B | 3.35B | 1.89B | 2.01B | 1.96B |
| EBITDA | 1.77B | 1.41B | 815.51M | 477.27M | 566.45M | 264.60M |
| Net Income | 1.12B | 879.19M | 440.20M | 229.01M | 419.21M | 193.30M |
Balance Sheet | ||||||
| Total Assets | 14.19B | 13.15B | 6.96B | 2.35B | 926.53M | 620.80M |
| Cash, Cash Equivalents and Short-Term Investments | 5.77B | 6.53B | 2.83B | 238.28M | 36.11M | 27.89M |
| Total Debt | 179.99M | 198.78M | 866.27M | 1.41B | 703.11M | 730.58M |
| Total Liabilities | 870.70M | 660.72M | 1.21B | 1.86B | 962.11M | 1.08B |
| Stockholders Equity | 13.11B | 12.48B | 5.75B | 487.51M | -35.58M | -455.51M |
Cash Flow | ||||||
| Free Cash Flow | -752.98M | -477.83M | -1.29B | -317.89M | 125.09M | 24.30M |
| Operating Cash Flow | -343.62M | 197.02M | -827.46M | -156.18M | 200.81M | 34.14M |
| Investing Cash Flow | 770.79M | -4.86B | -3.32B | -181.48M | -98.69M | -10.06M |
| Financing Cash Flow | -38.17M | 4.96B | 4.03B | 526.44M | -122.90M | -56.83M |
Zaggle Prepaid Ocean Services Limited Technical Analysis
Neutral
336.45
Price Trends
247.98
Negative
302.80
Negative
343.72
Negative
Market Momentum
-10.57
Negative
54.02
Neutral
58.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZAGGLE, the sentiment is Neutral. The current price of 336.45 is above the 20-day moving average (MA) of 214.33, above the 50-day MA of 247.98, and below the 200-day MA of 343.72, indicating a neutral trend. The MACD of -10.57 indicates Negative momentum. The RSI at 54.02 is Neutral, neither overbought nor oversold. The STOCH value of 58.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹40.49B | 18.11 | ― | 2.79% | 4.74% | 176.63% | |
70 Outperform | ₹79.79B | 18.01 | ― | 0.94% | 9.97% | 16.28% | |
69 Neutral | ₹31.59B | 32.13 | ― | ― | 47.25% | 45.37% | |
59 Neutral | ₹45.12B | 41.31 | ― | 0.32% | 11.02% | -9.59% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
55 Neutral | ₹26.66B | 13.93 | ― | 4.70% | -16.43% | -75.38% | |
47 Neutral | ₹44.08B | 116.38 | ― | ― | 5.13% | 90.30% |
* Services Sector Average
IN:ZAGGLE
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234.95
-73.25
-23.77%
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1,039.75
13.89
1.35%
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95.92
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99.92
-12.78
-11.34%
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VRL Logistics Ltd.
231.45
1.34
0.58%
Zaggle Prepaid Ocean Services Limited Corporate Events
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...
Zaggle Receives Rs 6.6 Crore Tax Demand, Plans Appeal and Sees No Material Impact
Mar 26, 2026
Zaggle Prepaid Ocean Services Limited has disclosed that it received an assessment order and tax demand notice under Section 156 of the Income Tax Act for assessment year 2024-25, raising a demand of Rs 6.6 crore following ad-hoc additions to its ...
Zaggle Wins Three-Year CNH India Deal for Rewards Platform
Mar 10, 2026
Zaggle Prepaid Ocean Services Limited has signed a three-year agreement with CNH Industrial (India) Private Limited to provide its Zaggle Propel reward platform to the domestic unit of the global industrial group. Under the contract, Zaggle will d...
Zaggle Launches Electronic Postal Ballot to Approve Special Business
Mar 2, 2026
Zaggle Prepaid Ocean Services Limited has initiated a postal ballot process to seek shareholder approval on special business matters exclusively through remote electronic voting. The company has fixed February 20, 2026 as the cut-off date for elig...
Zaggle Secures Five-Year Employee Expense Management Deal with Saurashtra Cement
Feb 26, 2026
Zaggle Prepaid Ocean Services Limited has executed a five-year agreement with Saurashtra Cement Limited to deploy its Zaggle Save platform for employee expense management and benefits. The domestic contract deepens Zaggle’s enterprise footpr...
Zaggle Signs One-Year Corporate Expense Card Deal With Superking Ventures
Feb 26, 2026
Zaggle Prepaid Ocean Services Limited has entered into a client agreement with Superking Ventures Private Limited under which it will provide Zaggle Corporate Expense cards to Superking’s employees and associates. The one-year, domestically ...
Zaggle Wins Chennai Super Kings Corporate Expense Card Mandate
Feb 26, 2026
Zaggle Prepaid Ocean Services Limited has entered into a one-year client contract with Chennai Super Kings Cricket Limited, under which it will provide its Zaggle Corporate Expense cards to the franchise’s employees and associates. The domes...
Zaggle Forms GIFT City Wholly Owned Subsidiary to Expand Payments Footprint
Feb 26, 2026
Zaggle Prepaid Ocean Services Limited has incorporated a wholly owned subsidiary, Zaggle Payments IFSC Limited, in GIFT City, Gujarat, after receiving a certificate of incorporation from the Ministry of Corporate Affairs on February 25, 2026. The ...
Zaggle Publishes Q3 FY26 Earnings Call Transcript for Investor Reference
Feb 19, 2026
Zaggle Prepaid Ocean Services Limited has released the transcript of its Q3 FY26 earnings conference call, held on February 12, 2026, covering the company’s operational and financial performance for the quarter and nine months ended December...
Zaggle Signs Agreement to Provide Mobile Phone Leasing Facility for Cubastion Employees
Jan 7, 2026
Zaggle Prepaid Ocean Services Limited has entered into an agreement with Cubastion Consulting Private Limited under which Zaggle will facilitate the procurement and leasing of mobile phones to Cubastion’s employees through its Employee Purch...
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.