Synopsis: A fintech SaaS firm secured a five-year enterprise agreement with a leading consumer electricals company, boosting revenue visibility and reflecting growing demand for digital expense management.
India’s corporate spend management space is seeing steady traction as large enterprises move to digitise employee benefits and expense workflows. A Hyderabad-based fintech firm has now added one of the country’s leading consumer electricals makers to its growing client roster, signing a multi-year agreement that underlines rising enterprise demand for SaaS-based platforms.
Shares of Zaggle Prepaid Ocean Services Limited, with a market capitalization of Rs.2,608 crore, are trading at a price of Rs.193.9 i.e.1.52 % down from its previous closing price of Rs.196.9. It is trading at a P/E ratio of 19.72 .
Ace investor Ashish Kacholia holds a 2.23% stake in Zaggle, reflecting sustained conviction in the company’s business model and long-term growth potential within India’s evolving fintech landscape.
Zaggle Signs 5-Year Deal With Crompton Greaves for Employee Expense Management
Zaggle Prepaid Ocean Services Limited has entered into a five-year agreement with Crompton Greaves Consumer Electricals Limited to deploy its Zaggle Save platform for employee expense management and benefits. The agreement was executed on June 10, 2026. The contract is domestic in nature with no related-party angle, and Zaggle’s promoter group has no interest in Crompton Greaves.
The financial value has not been disclosed upfront, as the SaaS fee is linked to the number of active users each month, with additional program fees tied to actual user spends over time. The five-year tenure provides meaningful revenue visibility and reduces client churn risk – both positives for a platform business. Crompton Greaves, which employs a large workforce spanning sales, manufacturing, and corporate functions, represents a significant user base for the Save platform.
The deal comes on the back of a strong FY26 for Zaggle. The company posted revenue of ₹1,853 crore in FY26, up 42% from ₹1,303 crore in FY25, while net profit grew 53% to ₹133 crore from ₹87 crore. Operating margins held steady at 10%. In Q4 FY26 alone, revenue stood at ₹593 crore with a net profit of ₹38 crore, continuing the sequential uptrend seen through the year. Interest costs have also declined sharply to ₹5 crore in FY26 from ₹14 crore in FY24, pointing to a healthier balance sheet as the business scales.
About the Company: Zaggle Prepaid Ocean Services Limited is a Hyderabad-based fintech company offering SaaS-driven spend management solutions for corporates. Its three platforms – Propel, Save, and Zoyer – address employee rewards, expense management, and accounts payable. The company is listed on both BSE and NSE.
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