Synopsis: The shares of this Fintech company were in the news today as it skyrocketed more than 6 percent following the company’s announcement of its Q2 result which highlighted the company’s Net profit growth at 72 percent along with growth in multiple areas.
The shares of this company, which builds world-class financial solutions and products to manage the business expenses of corporates, SMEs, & Startups through automated and innovative workflows, were in the spotlight today as the company declared its robust Q2 results.
With a market cap of Rs 5,235 crore, the shares of Zaggle Prepaid Ocean Services Ltd soared more than 6 percent in today’s trading session and reached a high of Rs 397.85 when compared to its previous day closing price of Rs 374.65, the shares are trading at a PE of 47 whereas its median PE is at 81.6 and have given a return of 137 percent over the last 3 years.
Q2 FY26 Result highlights.
The Revenue from operation for the company stood at Rs 432.22 crore when compared to Rs 302.56 crore in Q2 FY25 , growing by about 43 percent YoY basis and on QoQ basis increasing by 30 percent from Rs 331.96 crore in Q1 FY26.
The PAT grew by about 72 percent YoY basis when you compare the Q2 FY26 profit at Rs 34.98 crore to Rs 20.29 crore in Q2 FY25 and on QoQ basis has increased 34 percent from Rs 26.10 crore in Q1 FY26.
Zaggle delivered its best ever half yearly and quarterly performance, driven by strong growth across its key revenue streams from software fees, program fees, and Propel platform revenue. The company’s topline growth was supported by the addition of new clients, a rise in user numbers, and higher cross-selling across its product portfolio.
As business activity expanded, sales and marketing costs increased, while depreciation and amortisation also rose due to ongoing investments in new technology and product development. During the quarter, cash PAT crossed Rs 400 million, reflecting continued business momentum and scalability.
Commenting on the performance Raj P Narayanam, Founder and Executive Chairman, “Zaggle reported its best ever quarterly and half yearly performance in Q2 FY26, with revenue of Rs 7,625 million for H1 and Rs 4,310 million for the quarter, maintaining an EBITDA margin of around 10 percent. The company raised its revenue growth guidance to 40 to 45 percent for the year, whereas the EBITDA guidance continues to remain the same at 10 to 11 percent.
It launched two new products ,the Zaggle GlobalPay Forex Card and Zaggle with Mastercard Prepaid Card and entered the retail card segment through a partnership with AU Small Finance Bank. Zaggle also expanded its banking network by adding Standard Chartered Bank, AU Small Finance Bank, and Suryoday Small Finance Bank, strengthening its presence across credit, prepaid, and UPI payment solutions “
Avinash Godkhindi, Managing Director and CEO, states “We’ve already given guidance of a 10 to 11 percent margin for this year. In about five years, we expect margins to be at 14 to 15 percent, and in about seven years, we will be a billion dollars in revenue”
About the company.
Founded in 2011, Zaggle operates in the spend management and fintech space, offering products and services across the B2B2C segment. Its portfolio includes prepaid cards, tax and payroll software, and other SaaS-based softwares.
As of September 2025, the company has issued over 50 million prepaid cards in partnership with banks and serves a user base of more than 3.5 million. Zaggle’s operations span multiple sectors, including banking, technology, healthcare, FMCG, manufacturing, and infrastructure, reflecting its diversified presence within India’s financial technology ecosystem.
As of Q2FY26 Ace Investor Ashish Kacholia holds a 2.24 percent stake consisting of 30.03 Lakh equity share in Zaggle Prepaid Ocean Services Ltd. He made a fresh investment in the firm in September 2023 by acquiring 1.5 percent stake.
Written by Leon Mendonca.
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