Zaggle Prepaid Ocean Services Limited (ZAGGLE) AI Stock Analysis

• Market Cap: ₹26.14B
• Dividend Yield: N/A
• Average Volume (3M): 71.37K
• Price to Earnings (P/E): 32.1
• Beta (1Y): 1.77
• Revenue Growth: 47.25%
• EPS Growth: 45.37%
• Country: IN
• Employees: 301
• Sector: Services
• Sector Strength: N/A
• Industry: Software - Infrastructure
• EPS (TTM): 2.77
• Shares Outstanding: 134,458,450
• 10 Day Avg. Volume: 45,262
• 30 Day Avg. Volume: 71,366
• PEG Ratio: 0.70
• Price to Book (P/B): 3.58
• Price to Sales (P/S): 3.43
• P/FCF Ratio: -93.60
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 10.85
• Revenue Forecast (FY): ₹18.17B

• Rating: 65 Neutral
• Price Target: ₹209.00 ▼(-37.88% Downside)
• Action: Downgraded Date: 01/24/26
• Date: Action: Downgraded 01/24/26

Overall score is driven by solid financial performance (strong growth and profitability with improving cash flows), but is meaningfully weighed down by very weak technical momentum (below major moving averages, negative MACD, deeply oversold RSI/Stoch) and a relatively high P/E with no dividend yield.

Positive Factors

Diversified SaaS + Payments Model

Zaggle’s combined SaaS platform and payments/program-management model creates durable, recurring revenue streams and multiple monetization levers (subscriptions, transaction economics, implementation/commission fees). This structural diversity supports revenue stability and scaling over months as client bases and transaction volumes expand.

Negative Factors

Cash-Flow Efficiency

Although operating cash flow turned positive and FCF is now positive, weak free-cash-flow-to-net-income suggests earnings quality and cash conversion need improvement. Over months this can constrain discretionary spend, slow balance sheet strengthening, and limit flexibility for investments or payouts compared with peers.

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-...

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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...

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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

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

• Technical Analysis Sentiment: Negative
• Last Price: 336.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZAGGLE, the sentiment is Negative. The current price of 336.45 is above the 20-day moving average (MA) of 219.55, above the 50-day MA of 259.96, and below the 200-day MA of 350.86, indicating a bearish trend. The MACD of -16.27 indicates Negative momentum. The RSI at 29.69 is Positive, neither overbought nor oversold. The STOCH value of 6.43 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ZAGGLE.

Zaggle Prepaid Ocean Services Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VRLLOG	73 Outperform	₹41.91B	18.11	―	2.79%	4.74%	176.63%
TCI	70 Outperform	₹67.88B	18.01	―	0.94%	9.97%	16.28%
ZAGGLE	65 Neutral	₹26.14B	32.13	―	―	47.25%	45.37%
THOMASCOOK	59 Neutral	₹44.00B	41.31	―	0.32%	11.02%	-9.59%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
QUESS	55 Neutral	₹25.39B	13.93	―	4.70%	-16.43%	-75.38%
TVSSCS	47 Neutral	₹42.09B	116.38	―	―	5.13%	90.30%

Zaggle Prepaid Ocean Services Limited Corporate Events