Shares of this smallcap company jumped upto 5 percent in Friday’s trading session after reporting an increase in net profits by 153 percent YoY. In one year, the shares have delivered a multibagger return of 105 percent to its shareholders.
With a market capitalization of Rs. 3,981 crores, the shares of Zaggle Prepaid Ocean Services Ltd started Friday’s trading session on a higher note at Rs. 329 compared to its previous close of Rs. 314.10. During the trading session, the shares hit a high of Rs. 338.10, gaining around 5 percent and are currently trading at Rs. 325 apiece.
Such a positive movement in the share price was observed after the company announced quarterly and financial year ended 31st March 2024 results. Quarterly, the revenue jumped by 37 percent from Rs. 199.51 crores duirng the December quarter to Rs. 273.37 crores during the March quarter. In addition, the net profits increased by 26 percent from Rs. 15.22 crores to Rs. 19.16 crores during the same period.
Comparing the same metrics on a YoY basis, the revenue zoomed by 46 percent from Rs. 186.85 crores during Q4FY23 to Rs. 273.37 crores in Q4FY24. On the other hand, net profits magnified by 153 percent from Rs. 7.56 crores to Rs. 19.16 crores during the same timeframe.
Furthermore, the company recorded the highest-ever quarterly revenue for the past five years, marking the highest quarterly revenue from SaaS, Program Fees and Propel Revenue. Additionally, Zaggle expanded its customer base during the year by more than 600 new corporates, including Wipro and Bennett Coleman, and onboarded bank partners like SBI and Axis Bank.
The company dominates the Indian prepaid card issuance market, having issued over 50 million cards, accounting for a 16 percent market share by transaction value. It boasts a robust network, partnering with major entities like Kotak Mahindra Bank, Visa, ICICI Bank, and others. Notable clients include Tata Steel and Persistent Systems.
As per the latest shareholding pattern, Ace Investor Mr Ashish Kacholia, entering the stock in September 2022, currently holds around 29.03 lakh equity shares equivalent to a 2.37 percent stake in this company. The current holding value of his investment amounts to Rs. 95.2 crores.
Headquartered in Mumbai, Zaggle Prepaid Ocean Services was incorporated in 2011. The company specializes in providing solutions for expense management, employee tax benefits, rewards and recognition programs, corporate gifting, and incentives.
Written By Vaibhav Patil
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