Synopsis:
Zaggle Prepaid Ocean Services Ltd has partnered with Suryoday Small Finance Bank to offer its “Zaggle Save” expense management solution.
The shares of the Small-Cap company, specializing in providing spend management solutions and financial technology products, jumped by upto 2 percent upon signing the agreement with Suryoday Small Finance Bank.
With a market capitalization of Rs. 5,413.72 Crores on Tuesday, the shares of Zaggle Prepaid Ocean Services Ltd rose by 2.08 percent after making a high of Rs. 409.45 compared to its previous closing price of Rs. 401.10. Ace investor Ashish Kacholia holds a 2.2 percent stake in Zaggle Prepaid Ocean Services Limited, consisting of 30.03 lakh shares as of June 2025.
What happened
Zaggle Prepaid Ocean Services Ltd, engaged in providing spend management solutions and financial technology products, has entered into an agreement with Suryoday Small Finance Bank Limited.
Under the terms of this domestic agreement, Zaggle will provide “Zaggle Save”, an employee expense management and benefits solution, to Suryoday Small Finance Bank for a contract period of two years. The engagement aligns with Zaggle’s service portfolio and reinforces its position in offering digital financial solutions to institutional clients.
Financials & Others
The company’s revenue rose by 31.43 percent from Rs. 252 crore to Rs. 331 crore in Q1FY25-26. Meanwhile, the Net profit rose from Rs. 17 crore to Rs. 26 crore during the same period.
The company has demonstrated strong financial performance, delivering a profit growth of 88% CAGR over the last five years. Additionally, with a very low debt-to-equity ratio of 0.01, it maintains a nearly debt-free balance sheet.
Zaggle Prepaid Ocean Services Limited was established in 2011 and is a financial technology company specializing in business spend management solutions. Headquartered in Hyderabad, Telangana, it serves corporates, SMEs, and startups by automating and digitizing workflows related to expense management, employee benefits, rewards, recognition, corporate gifting, and incentives.
The company offers SaaS and FinTech solutions to help businesses manage spending, payments, and rewards. Its key platforms include Zaggle SAVE for employee expenses, Zaggle Propel for channel partner rewards, Zaggle Zoyer for vendor payments, and ZatiX for smart spend analysis.
It has a strong customer base with over 3,400 corporate clients and more than 3.2 million users. The company has issued over 50 million cards through partnerships with around 16 banks.
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The company has recently onboarded major clients such as Indus Towers, Honasa Consumer (Mamaearth), Forbes Marshal, Truecaller International, Aster DM Healthcare, Tech Mahindra, Physics Wallah, Zepto, Wonder Home Finance, and others, boosting its presence across the telecom, consumer goods, healthcare, education, and fintech sectors.
Guidance: For FY26, Zaggle Prepaid Ocean Services Limited expects standalone revenue to grow by 35–40 percent, and if all planned acquisitions close by September, consolidated growth could reach around 80 percent. Over the long term, it aims for $1 billion in annual revenue.
The company’s EBITDA margins are guided to 10–11 percent next year (up from 9–10 percent in FY25), with a target of 12–15 percent within 3–4 years, improving by about 1 percentage point each year. Employee stock option expenses are projected at Rs. 9–10 crore for FY26.
Written by Sridhar J
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