Synopsis: #1 Spend Management company in India has entered into a 36-month domestic agreement with V-Mart retail Ltd for its Zaggle Zoyer platform.
The shares of this Small cap company held by Ashish Kacholia that provides financial solutions and products to manage the business expenses, rewards and more were in focus upon receiving a new work order from Vmart Ltd thereby increasing its revenue and customer base.
With market capitalization Rs.4,859cr, the shares of Zaggle Prepaid Ocean Services closed at Rs.362.10 , down 2.75 percent from its previous day’s close price of Rs. 372.35 and it made a day low of Rs.360.7.
What Happened
Zaggle Prepaid Ocean services ltd. engaged in delivering fintech solutions has announced receiving a new work order from V-Mart Retail Ltd for providing Zaggle Zoyer Platform, a business spend management platform that automates the procure-to-pay cycle to improve financial performance and operational efficiency.
This new agreement is not a party related transaction which aims at increasing operational efficiency of V-Mart, and the contract period is of 36-months with continuous Revenue stream to Zaggle. The adoption by V-Mart will suggest the scalability of the Zoyer platform, marking Zaggle’s move to expand into the retail sector & diversifies Zaggle’s client portfolio, while looking forward to its Q2 results.
Financials and More
Zaggle Prepaid Ocean services ltd has generated a revenue of Rs. 331 Crores which is an increase of 32 percent YoY from Rs. 252 Crores in Q1FY25 accompanied by Net Profits of Rs. 17 Crores to Rs. 26 Crores
Zaggle Prepaid Ocean services ltd builds Financial solutions and Products to manage the business expenses of corporates, SMEs & Startups, with partners like- Hdfc Bank, Master Card & Strada. With Revenue streams from – SaaS fees, Program fees, Merchant Commission & VAS Fees from Lending.
Its Strategic alliance with Tata Capital, Mesh payments, Mastercards, One assist & Grant Thornton with Contract ranging from 3 to 7years offers a combination of payment instruments, mobile application and API integrations .
As of Q2FY26, Ace Investor Ashish Kacholia holds a 2.24 percent stake consisting of 30.03 Lakh Equity shares in Zaggle Prepaid Ocean services ltd . He made a fresh investment in the company in September 2023 by acquiring a 1.5 percent stake.
Written by: Gourav Pratap Singh
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