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Zaggle Prepaid Ocean Services Ltd share Price Today

Company details

6M Return 0.00%
1Y Return 49.95%
Mkt Cap.(Cr) 2,899.19
Volume 245,666
Div Yield 0.00%
OI Chg %
Volume 245,666

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IT Software Products company Zaggle Prepaid Ocean Services announced Q1FY24 results:

Financial Performance:

1. Revenues: Zaggle Prepaid Ocean Services Limited reported a solid financial performance in Q1FY24, with a 34% year-on-year increase in revenues to Rs 1,185 million.

2. Adjusted EBITDA: The company also witnessed a 27% YoY growth in Adjusted EBITDA, reaching Rs 138 million in Q1FY24.

3. Profitability: Zaggle Prepaid Ocean Services Limited maintained a strong Adjusted EBITDA margin of 11.7% during the quarter, showcasing its ability to effectively manage expenses and generate profits.

4. Net Profit: The company reported a profit after tax (PAT) of Rs 58.44 million in Q1FY24, with a PAT margin of 6.72%.

Business Highlights:

1. Corporate Customers: Zaggle Prepaid Ocean Services Limited experienced a 36% YoY increase in corporate customers, reaching a total of 2,596 in Q1FY24.

2. User Base: The company serves a vast user base, with over 2.42 million aggregate users as of Q1FY24.

3. Product Launch: The launch of Zoyer, Zaggle's vendor management platform, contributed to the company's revenue growth in Q1FY24.

4. Corporate Credit Cards: Zaggle experienced growth in its corporate credit cards business, driving the overall revenue increase.

Management Commentary:

Raj P Narayanam, Founder and Executive Chairman of Zaggle Prepaid Ocean Services, expressed his satisfaction with the company's IPO performance and thanked shareholders for their trust. He attributed the company's revenue growth to recent initiatives, such as the introduction of corporate credit cards and the launch of Zoyer. Narayanam also highlighted the positive impact of customer expansion and cross-selling efforts on the company's financial results.

Narayanam stated that Zaggle Prepaid Ocean Services Limited expects to see an improvement in margins in the second half of the fiscal year, leveraging historical trends. The company aims to reduce finance costs significantly after reducing borrowings post-IPO.

Narayanam emphasized strong tailwinds in India's fintech and digital payments industry, which, combined with Zaggle's unique positioning in the spend management space, provides a competitive advantage. The company is optimistic about its revenue growth for the fiscal year, projecting a range of 40% to 50%, with an Adjusted EBITDA margin between 11% and 13%. Zaggle projects its total ESOP expense to be close to Rs 200 million for the fiscal year.



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Operating Profit
Profit after Tax
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Zaggle Prepaid Ocean Services Ltd Stocks COMPARISION


Equity Capital: 48.75 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 21,593.44 39,409.91
LAST 3M 57,905.00 19,139.45
LAST 6M 99,888.55 93,017.93
LAST 12M 166,353.23 137,771.51

Zaggle Prepaid Ocean Services Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Zaggle Prepaid Ocean Services Ltd was incorporated as `Zaggle Prepaid Ocean Services Private Limited` at Hyderabad as a private limited company dated June 2, 2011. Subsequently, Company was converted into a public limited on August 22, 2022 and consequently the name was changed to `Zaggle Prepaid Ocean Services Limited` vide fresh certificate of incorporation dated September 13, 2022. The Company is a B2B2C Fintech SaaS Company, which is a leading player in spend management, with a differentiated value proposition and diversified user base. Incorporated in 2011, it interact with Customers (i.e., businesses) and end Users (i.e., employees) and are among a small number of uniquely positioned players with a diversified offering of financial technology products and services, having one of the largest number of issued prepaid cards in India in partnership with certain banking partners, a diversified portfolio of software as a service (Saa"), including tax and payroll software, and a wide touch point reach. The core product portfolio include: `Propel`, a corporate SaaS platform for channel rewards and incentives, employee rewards and recognition; `Save`, a SaaS-based platform and a mobile application to offer expense management solution for business spend management facilitating digitised employee reimbursements and tax benefits; `CEMS`, a customer engagement management system that enables merchants to comprehensively manage their customer experiences including rewarding merchants through gift card and loyalty benefits; `Zaggle Payroll Card`, a prepaid payroll card that allows Customers to pay contractors, consultants, seasonal and temporary employees, and unbanked wage workers as an alternative to direct deposits to bank accounts or cash payments; and `Zoyer`, an integrated data driven, SaaS based business spend management platform with embedded automated finance capabilities in core invoice to pay workflows. The Company is sector-agnostic, and their network covers the banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure and automobile industries, among others, where it maintains relationships with TATA Steel, Persistent Systems, Vitech, Inox, Pitney Bowes, Wockhardt,MAZDA, PCBL (RP - Sanjiv Goenka Group), Hiranandani group, Cotiviti and Greenply Industries. In 2015, the Company launched Zaggle App. In 2019. it launched a prepaid card powered by IndusInd Bank Limited, a channel incentive and engagement platform, namely, "Propel" and an expense management card platform, namely, "Save". In 2022, it launched an integrated data-driven business, "Zoyer". It launched a wearable contactless payment device, "Zakey". The Company is planning to raise capital from Public by raising Rs. 490 crores through fresh issue and issuing 10,526,316 Equity Shares through Offer for sale.

Registered Address

301 III Floor CSR Estate Plot, No.8 Sector 1 HUDA Techno Enc., Hyderabad, Telangana, 500081

Tel : 91-40-23119049
Email : haripriya.singh:zaggle.in
Website : http://www.zaggle.in

KFin Techologies Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 543985
Book Closure Date (Month) :
BSE Group : B
ISIN : INE07K301024

FAQ’s on Zaggle Prepaid Ocean Services Ltd Shares

You can buy Zaggle Prepaid Ocean Services Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Zaggle Prepaid Ocean Services Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Dec 07, 2023 03:59 PM the closing price of Zaggle Prepaid Ocean Services Ltd was ₹ 237.45.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Dec 07, 2023 03:59 PM, the market cap of Zaggle Prepaid Ocean Services Ltd stood at ₹ 2,899.19.

The latest PE ratio of Zaggle Prepaid Ocean Services Ltd as of Dec 07, 2023 03:59 PM is 126.98

The latest PB ratio of Zaggle Prepaid Ocean Services Ltd as of Dec 07, 2023 03:59 PM is 0.19

The 52-week high of Zaggle Prepaid Ocean Services Ltd is ₹ 266.20 while the 52-week low is ₹ 155.30

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