This Ace Investor Ashish Kacholia stock which deals in the business of financial solutions and products and managing business expenses of corporates, Startups, and SMEs through automated workflows was up by 1.7 percent after the company entered an agreement with Siemens Limited.
Share Price Movement
With a market capitalization of Rs. 6,387.50 Crores, the shares of Zaggle Prepaid Ocean Services Limited were up by 1.79 percent in the day’s trade touching a day’s high of Rs. 475.95 per share. The stock reiterated from the day’s high and was trading at Rs. 475.95 which is 0.05 percent higher than the previous closing price of Rs. 475.70 apiece. The stock has delivered a return of 121 percent which has outperformed the Nifty Index in the past year.
What happened
Zaggle has entered into an agreement with Siemens India to provide Zaggle Propel rewards for employees of Siemens Limited. This order is received from a domestic entity and it is based on framework agreement. The period of the contract to be executed is 3 years.
Q2FY25 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Zaggle Prepaid Ocean Services consolidated revenue from operations has increased by 64.67 percent year on year from Rs. 184 crore in Q2FY24 to Rs. 303 crore in Q2FY25 and increased by 20.23 percent quarter on quarter from Rs. 252 crore in Q4 FY24.
The company’s consolidated net profit has increased by 150 percent year on year from Rs. 8 crores in Q2 FY24 to Rs. 20 crores in Q2FY25. As compared to Q2FY25, the company’s net profit has increased by 17.64 percent quarter on quarter from Rs. 17 crore.
Shareholding Pattern
As of the December 2024 shareholding pattern, Zaggle Prepaid Ocean Services majority held by the promoters at 40.09 percent, Foreign Institutional Investors (FII) hold around 9.17 percent, Domestic Institutional Investors (DII) hold around 14.56 percent and the public with 36.17 percent. Furthermore, Ashish Kacholia holds a 2.16 percent stake in this company.
About Company
Zaggle Prepaid Ocean Services was founded in 2011. It is a leading fintech company based in India. They deliver digital solutions that streamline expense management, improve employee tax benefits, and improve corporate gifting and incentives. Zaggle’s offerings help organizations reduce costs and boost employee engagement. The company has provided a 50 to 55 percent revenue guidance for FY25 and they are confident of doubling it in the next two years.
Client Base
Serving prominent clients like TATA Steel, Persistent Systems, Baroda BNP Paribas Asset Management, Blue Star, and HDFC Ergo General Insurance.
Written By Santhosh S
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