Zaggle Prepaid Ocean Services Limited · NSE:ZAGGLE
Zaggle Prepaid Ocean Services — Q1 FY27 Earnings Presentation
46 slides from Zaggle Prepaid Ocean Services's earnings presentation, August 2026
Slide 1: Investor Presentation
Investor Presentation Zaggle Prepaid Ocean Services Limited August 2026 1
Slide 2: Safe harbor
Safe harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Zaggle Prepaid Ocean Services Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 3: From the Founder's desk
From the Founder’s desk… "Q1 FY27 marks an important inflection point for Zaggle as we move from a decade of profitable growth into a phase of transformation through consolidation. Our focus is now firmly on optimizing core operations, scaling AI across our platforms, and integrating our recent acqu
Slide 4: Performance Highlights
Spends Simplified. oD) (s) c oO £ = fe) = = wo a. Highlights
Slide 5: Quarterly financial highlights - Consolidated
Quarterly financial highlights - Consolidated 27.5% 15.4% 4.0% 4,233 1,895 334 347 1,642 3,320 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Revenue from operations (₹ Mn) Gross Profit (₹ Mn) Adjusted EBITDA* (₹ Mn) * Adjusted EBITDA is after reducing the ESOP expenses and adding EBITDA share of associa
Slide 6: Quarterly revenue contribution - Consolidated
Quarterly revenue contribution - Consolidated Around 40% of our revenue comes in the first 2 quarters with around 60% coming in the last 2 quarters 6,179 5,255 4,233 4,322 4,121 3,320 3,369 3,026 2,734 2,522 1,995 1,842 Revenue 1,185 from operations (₹ Mn) Q1 Q2 Q3 Q4 Revenue 15.3% 19.3% 17.4% 23.8%
Slide 7: Key operational performance indicators
Key operational performance indicators Total customers catered to (number) Revenue per customer (in INR mn) Aggregate users on the platform (million) 14.2% 3% 18.6% 4,065 4.02 3,559 0.96 3.39 KPIs (Standalone) 0.93 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Category 1 Category 2 Software Fees Program
Slide 8: Revenue mix – Net Reporting - Consolidated
Revenue mix – Net Reporting - Consolidated We guide our investors to look at our revenue numbers on a Net basis after deducting cost of point redemption / gift cards on Propel Q1’ FY27 Q1’ FY26 FY26 FY25 (₹ Mn) Software Program Propel Software Program Propel Software Program Propel Software Program
Slide 9: Other Key operational metrics
Other Key operational metrics GTV for Program Fees Split across key business units Propel GTV Redemption split* Revenue per employee (in INR mn) (standalone) (standalone) (Consolidated) 26.1% 10% 9.4 Key 33% 7.5 43% Metrics Analysis (Q1 FY27) 24% 90% Zoyer Propel Save Network Cards Propel Points Q1F
Slide 10: Profit and loss statement - Consolidated
Profit and loss statement - Consolidated Particulars (₹ Million, unless stated otherwise) Q1FY27 Q1FY26 YoY Q1FY27 – Key Highlights Revenue from operations: 4,232.7 3,319.7 27.5% Cost of point redemption / gift cards 2,330.1 1,675.5 Propel Margin improved on the back of a Consumption of cards 7.7
Slide 11: Q1 FY27 Performance of Subsidiaries/Investee Companies
Q1 FY27 Performance of Subsidiaries/Investee Companies Key Metrics Mobileware (in INR mn) Greenedge Zagg.Money (Rivpe) TaxSpanner (standalone performance) Revenue 439.5 220 12.5 7.9 EBITDA 42.6 88.2 -25.2 0.05 EBITDA % 9.7% 40.1% - 0.6% 11
Slide 12: Key Focus Areas across Revenue Segments
Key Focus Areas across Revenue Segments 1. AI capabilities inherited from Dice have opened doors to solve more complex problems for corporate customers thus enabling us command a price premium SaaS 2. Faster timelines on implementation and delivery along with new feature launch adds operational leve
Slide 13: Key Business Highlights
Key Business Highlights
Slide 14: Key Trends with favourable tailwinds (1/2)
Key Trends with favourable tailwinds (1/2) Zaggle Product Key Trend What the trend implies What it means for us impacted BROME captures branch level payments for large enterprise corporates which predominantly happen through UPI payments The government has guided the implementation of MDR on UPI
Slide 15: Key Trends with favourable tailwinds (2/2)
Key Trends with favourable tailwinds (2/2) Zaggle Product Key Trend What the trend implies What it means for us impacted Key changes which were implemented: Average load value and therefore addressable spends on prepaid cards for tax benefits has gone up quite significantly across our user base
Slide 16: Strategic Alliances
Strategic Alliances Contract brief Duration Zaggle would be the cobranding Partner with objective to drive acquisition, marketing and promotion of the Punjab National Bank ► 5 Years Cobranded Retail Credit Card Product Zaggle will provide HPCL funded loyalty reward points on the purchase of petroleu
Slide 17: Marquee Win - HPCL
Marquee Win - HPCL Key Features Partnership under the Drive Track Plus Programme Zaggle will provide HPCL funded loyalty reward points on the purchase of petroleum products to its existing and new corporate, retail and fleet customers Value add to Users: Loyalty reward points against spends on pet
Slide 18: Marquee Customers onboarded from Dice
Marquee Customers onboarded from Dice Key offerings Hindalco ► Zaggle Zoyer Platform Trident Group ► Zaggle Zoyer Platform Bajaj Electricals ► Zaggle Zoyer Platform Dezerv ► Zaggle Zoyer Platform Navi ► Zaggle Zoyer Platform IDFC First Bank ► Zaggle Save platform Manipal Hospitals ► Zaggle Save plat
Slide 19: Key Client Case studies
Key Client Case studies Zaggle Product Client Profile Key Problem Statement Key solutions implemented implemented 5,000+ Channel partners Complete digital automation of incentive calculation Legacy offline process with real – time tracking Large entity in the Zaggle Propel chemicals industry
Slide 20: Recent customers wins for growth (1/2)
Recent customers wins for growth (1/2) Key offerings Duration APAC Financial Services ► Zaggle Zoyer Platform + Zaggle Save 5 Years Crompton Greaves Consumer Electricals ► Zaggle Save Platform 5 Years Amar Ujala Limited ► Zaggle Save platform 1 Year Daimler India Commercial Vehicles ► Zaggle Zatix +
Slide 21: Recent customers wins for growth (2/2)
Recent customers wins for growth (2/2) Key offerings Duration Bikaji Foods ► Zaggle Save platform 1 Year Brooks Brothers ► Zaggle Zoyer Platform 1 Year Diesel Fashion ► Zaggle Zoyer Platform 1 Year Firstprinciple AppsForBharat Private Limited ► Zaggle Zoyer Platform + Zaggle Save 3 Years GSK India ►
Slide 22: What we do
ANALYSIS ; INNOVATION | f =} — PLANNING | TARGET What we do Spends Simplified, 22
Slide 23: What is Spend management
What is Spend management Spend management automates workflows & facilitates seamless management of all non-CapEx linked spends of businesses which are largely recurring in nature Typical buckets under spend management Vendor payments Employees Channel partners • Raw material purchase • Employee trav
Slide 24: How we help enterprise and large corporates
How we help enterprise and large corporates Key problem statements Ever evolving regulatory Lack of Automated reconciliation, Inefficient processes environments Write offs & delayed reporting What Zaggle brings to the table Real-time financial Transparency Automated reporting compliance checks Incre
Slide 25: How we do this – One unified SaaS & Fintech ecosystem
How we do this – One unified SaaS & Fintech ecosystem We embed payment and financing instruments at every level of our software to provide a unique integrated one-stop solution to all our corporates ERPs & Accounting Payment Networks & Banking Software systems CRMs, Marketplace & HRMS Platforms Gove
Slide 26: Zaggle: #1 Spend Management company in India
Zaggle: #1 Spend Management company in India What we have built 4065+ 4.0 Mn+ Corporates Users Fleet Management Fleet Management Sales Commission Channel Partner / 50 Mn+ Sales Sales Cards issued Corporate Corporate Spends Need Spends Need #1 Prepaid Card issuer in country Multilingual Products are
Slide 27: Monetization with strong network effect
… with strong network effect Key Partners Banking Network Partners VAS Banking licenses & Pmt. instrument Resell Zaggle Key customers Comprehensive Monetization Sell software Monetize GTV Corporates - SaaS fees Users / deals Partners - Program fees Corporates Merchants User base Software / users Mer
Slide 28: Omni Channel Offerings
Omni Channel Offerings Offering a combination of payment instruments, mobile application and API integrations Co - Branded Bank Cards Zaggle App to Manage Spends Multiple Banks & network partners Dashboard to manage reporting & analytics 28 Note: The Brand Names and Logos mentioned are the property
Slide 29: Innovative Product Offerings
Innovative Product Offerings Comprehensive suite of products for a large & growing addressable market Rewards & recognition platform Channel rewards and incentives Employee expense management & benefits Employee rewards and recognition Expense Management Embedded-finance Employee Reimbursements Inte
Slide 30: Supercharging Channel Partner Performance
Supercharging Channel Partner Performance Key Features Seamless Partner Onboarding Scheme Management Campaign Management - QR Scan & Earn, Scratch & Win Metric-Based Incentive Computation Lead Management Revenue Streams Leaderboards and Achievements Payments / Redemption Solutions Revenue Streams Re
Slide 31: Digitize Employee Expense, Reimbursements & Benefits
Digitize Employee Expense, Reimbursements & Benefits Key Features Automatic Expense Reporting Mobile-First Experience (Intuitive App with Smart OCR) Seamless Transaction Reconciliation against Scanned Receipts Set Up Policies & Limits Easily Consolidated Statement for the Admin and Individual statem
Slide 32: Digitized Vendor Procure-to-Pay Solutions
Digitized Vendor Procure-to-Pay Solutions Key Features Seamless Petty Cash Management Through The Mobile App & Corporate Credit/Prepaid Card Consolidated Statement for The Admin and Individual Statement for Every User Multiple Billing Cycles to Match Corporate Expense Management Requirements Control
Slide 33: Recent innovations
Recent innovations Zaggle Fleet Management Intelligent Spend Analytics Platform Managing Fleet Expenses Efficiently International Payments (ZIP) Simplifying Global Transactions Newly launched analytics platform, designed to empower Fleet program offers a spend management ZIP ensures seamless interna
Slide 34: Our AI Strategy
Our AI Strategy Zaggle’s In-House AI Initiatives Zaggle’s AI-Enabled Offerings Driving Efficiency & Agility Driving Personalisation, Automation & Insight as a Service Re-engineering the way we build having embedded AI into our core development Providing customers with tools that don’t just manage sp
Slide 35: Inorganic initiatives to strengthen the business portfolio
Inorganic initiatives to strengthen the business portfolio Overview Transaction Details Fintech company with offerings including UPI payments along with co-branded consumer Stake: 100% Rivpe credit cards Consideration: INR 220 Mn (Acquisition) & INR 500 This acquisition expands Zaggle’s product offe
Slide 36: Inorganic initiatives to strengthen the business portfolio
Inorganic initiatives to strengthen the business portfolio Overview Transaction Details Operates in the Spend Management industry providing AI platforms on Travel & Expense Stake: Asset Purchase for IP, Tech, Customer Dice Technology along with Procure to Pay contracts along with Employee transfer P
Slide 37: Seasoned management team and board (1/2)
Seasoned management team and board (1/2) Leadership Dr. Raj P Narayanam Avinash Ramesh Godkhindi Founder and Executive Chairman Managing Director and CEO Founded Zaggle in 2011 with a vision to simplify corporate spends Leading Zaggle’s growth as Managing Director & CEO Honorary Doctorate Degr
Slide 38: Seasoned management team and board (2/2)
Seasoned management team and board (2/2) Board of Directors Prerna Tandon Arun Vijaykumar Gupta Independent Director Non-Executive Director • Holds a master’s degree in business administration from the Panjab • Holds a bachelor’s degree in commerce from the P.D. Lion’s College of Commerce University
Slide 39: Zaggle in a nutshell
Zaggle in a nutshell Seasoned management team and Seasoned Multi-product SaaS based platform with a board team strategy comprehensive product stack Consolidated Revenues from Robust Technology operations in FY26 have grown y-o-y financial In-house technology with strong and metrics at 46.3% with a c
Slide 40: Historical financials
@ Zaggle Spends Simplified. Historical financials
Slide 41: Historical financial and operating metrics - Consolidated
Historical financial and operating metrics - Consolidated Corporate customers Revenue from operations (₹ Mn) 3,915 3,455 19,076 3,016 2,411 13,038 7,756 5,535 FY2023 FY2024 FY2025 FY2026 FY2023 FY2024 FY2025 FY2026 Adjusted EBITDA & EBITDA margin(₹ Mn) Aggregate users (1) (Mn) 11.3% 11.0% 9.5% 10.2%
Slide 42: Historical profit and loss statement (Consolidated)
Historical profit and loss statement (Consolidated) Particulars (₹ Million, unless stated otherwise) FY26 FY25 FY24 FY23 Revenue from operations: 19,076.5 13,037.6 7,756.0 5,534.6 Cost of point redemption / gift cards 10,504.7 6,781.0 3,797.2 3,188.7 Consumption of cards 15.1 17.0 12.3 17.5 Gross Pr
Slide 43: Historical balance sheet (Consolidated)
Historical balance sheet (Consolidated) Particulars (Rs. in Millions) Mar 2026 Mar 2025 Mar 2024 Mar 2023 Particulars (Rs. in Millions) Mar 2026 Mar 2025 Mar 2024 Mar 2023 ASSETS EQUITY AND LIABILITIES Non-current assets EQUITY Property, plant and equipment 376.5 397.1 25.3 23.5 Equity share capital
Slide 44: Annexure
@ Zaggle Spends Simplified, Annexure
Slide 45: Key awards, accreditations and recognitions
Key awards, accreditations and recognitions 2nd 1st Runner- R𝐞𝐜𝐨𝐠𝐧𝐢𝐳𝐞𝐝 𝐌𝐨𝐬𝐭 • FinTech Runner-up, up 𝐅𝐢𝐧𝐓𝐞𝐜𝐡 𝐚𝐦𝐨𝐧𝐠 𝐭𝐡𝐞 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐯𝐞 Product of 𝐁𝐞𝐬𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐲 𝐖𝐨𝐫𝐥𝐝’𝐬 𝐅𝐢𝐧𝐓𝐞𝐜𝐡 the Year for 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐘𝐞𝐚𝐫 𝐓𝐨𝐩…
Slide 46: Thank you
Thank you Company Zaggle Prepaid Ocean Services Limited CIN: L65999TG2011PLC074795 Hari Priya, Company Secretary & Compliance Officer Email id: Investor.Relations@zaggle.in Investor Relations Advisor Strategic Growth Advisors Pvt Ltd. CIN: U74140MH2010PTC204285 Shikha Puri / Srushti Pathak Email id:
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