Zaggle Prepaid Ocean Services Limited · NSE:ZAGGLE
Zaggle Prepaid Ocean Services — Q2 FY26 Earnings Presentation
33 slides from Zaggle Prepaid Ocean Services's earnings presentation, November 2025
Slide 1: Investor Presentation
Investor Presentation Zaggle Prepaid Ocean Services Limited November 2025 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… “Since our listing two years back, we continue to deliver upon our guidance, and our current results are no exception, where we delivered our best-ever half-yearly and quarterly performance across parameters. We achieved substantial half-yearly revenue of INR 7,625 Mn and an
Slide 4: Performance Highlights
@ Zaggle® Performance Highlights
Slide 5: Highest ever quarterly and half yearly performance across metrices
Highest ever quarterly and half yearly performance across metrices ₹ 4,309.8 Mn ₹ 437.3 Mn ₹ 332.4 Mn ₹ 404.4 Mn Q2 FY26 YoY + 42.4% YoY + 48.1% YoY + 79.1% YoY + 69.8% ₹ 7,624.7 Mn ₹ 764.6 Mn ₹ 591.2 Mn ₹ 751.1 Mn H1FY26 YoY + 37.4% YoY + 38.8% YoY + 67.6% YoY + 63.9% Revenue from Adjusted EBITDA P
Slide 6: Quarterly financial highlights
Quarterly financial highlights Revenue from operations (₹ Mn) Gross Profit (₹ Mn) 42.4% 37.4% 7,625 27.1% 4,310 38.8% 3,589 5,548 1,952 2,824 3,026 1,406 Q2FY25 Q2FY26 H1FY25 H1FY26 Q2FY25 Q2FY26 H1FY25 H1FY26 Adjusted EBITDA (₹ Mn) Reported EBITDA (₹ Mn)* Cash PAT (₹ Mn) 48.1% 38.8% PAT + Depreciat
Slide 7: Key operational performance indicators
Key operational performance indicators Total customers catered to (number) Aggregate users on the platform (million) 14.3% 15.8% 3,674 3.51 3,213 3.03 KPIs Q2FY25 Q2FY26 Q2FY25 Q2FY26 Software Fees Program fees Propel platform revenue +48.4% +26.2% 4,225 +21.8% 3,194 Revenue +46.8% 2,848 2,531 Mix 2
Slide 8: Profit and loss statement (standalone)
Profit and loss statement (standalone) Particulars (₹ Million, unless stated otherwise) Q2FY26 Q2FY25 YoY Q1FY26 QoQ H1FY26 H1FY25 YoY FY25 Key Highlights Revenue from operations: 4,309.8 3,025.6 42.4% 3,314.9 30.0% 7,624.7 5,547.6 37.4% 13,026.5 Highest ever half-yearly & quarterly Cost of point
Slide 9: Quarterly revenue contribution (Q3 & Q4 are higher revenue quarters)
Quarterly revenue contribution (Q3 &Q4 are higher revenue quarters) FY23 FY24 FY25 FY26 4,309.8 4,114.5 3,314.9 3,364.4 3,026.0 2,734.0 2,522.0 1,995.0 1,842.0 1,869.0 1,476.0 1,303.0 1,185.0 Revenue 886.0 from operations (₹ Mn) Q1 Q2 Q3 Q4 Revenue Contribution 16.0% 15.3% 19.4% 23.5% 23.8% 23.2% 26
Slide 10: Balance Sheet (standalone)
Balance Sheet (standalone) Particulars (Rs. in Millions) Sept 30, 2025 March 31, 2025 Particulars (Rs. in Millions) Sept 30, 2025 March 31, 2025 ASSETS EQUITY AND LIABILITIES Non-current assets EQUITY Property, plant and equipment 386.9 396.8 Equity share capital 134.3 134.2 Other equity 12,956.7 12
Slide 11: Strategic Alliances
Strategic Alliances Contract brief Duration Zaggle in partnership with AU Small Finance Bank to launch Co-branded Retail Credit Card powered by a personalized recommendation engine and TPAP integration Zaggle has also partnered with AU Small Finance Bank on Corporate Credit Cards to be provided to A
Slide 12: Recent customers wins for growth (1/2)
Recent customers wins for growth (1/2) Key offerings Duration SMC Global Securities ► Zaggle Zoyer & Zaggle Save (Employee expense management & benefits) propositions Perpetual Megha City Gas ► Zaggle Fleet Program 5 Years Distribution Pernod Ricard India ► Zaggle Propel platform 3 Years Adani Gas ►
Slide 13: Recent customers wins for growth (2/2)
Recent customers wins for growth (2/2) Key offerings Duration V-Mart Retail ► Zaggle Zoyer Platform 2 Years Godrej Properties Limited ► Zaggle Propel platform 1 Years Nuziveedu Seeds Limited ► Zaggle Propel platform 3 Years General Insurance ► Zaggle Save (Employee expense management & benefits) 3 Y
Slide 14: What we do
aggle” What we do
Slide 15: Zaggle: #1 Spend Management company in India
Zaggle: #1 Spend Management company in India What we have built SaaS Fintech 3,600+ 3.5 Mn+ Corporates Users ` Sales Commission ( < 1.5% Churn) Channel Management Sales Sales Fleet 50 Mn+ Partner / Corporate Cards issued Spends Need #1 Prepaid Card Multilingual GDPR Products are issuer in country in
Slide 16: Comprehensive 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 mon
Slide 17: Omni Channel Offerings
Omni Channel Offerings Offering a combination of payment instruments, mobile application and API integrations Co – Branded Zaggle App to Cards Manage Spends with Banks Omni Channel Multiple Banks Offerings Dashboard to & network manage partners reporting & analytics Note: The Brand Names and Logos m
Slide 18: Innovative Product Offerings
Innovative Product Offerings Comprehensive suite of products for a large & growing addressable market Rewards & recognition platform Channel rewards and Employee expense incentives management & benefits Employee rewards and Expense Management recognition Embedded-finance Employee Reimbursements Inte
Slide 19: 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 Leaderboards and Achievements Payments / Redemption Solutions Revenue Streams Automated Claim
Slide 20: 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 stat
Slide 21: 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 Contr
Slide 22: Recent innovations
Recent innovations Zaggle Fleet Management International Payments (ZIP) Intelligent Spend Analytics Platform Managing Fleet Expenses Efficiently Simplifying Global Transactions Newly launched analytics platform, designed to Fleet program offers a spend management ZIP ensures seamless international p
Slide 23: Inorganic initiatives to strengthen the business portfolio
Inorganic initiatives to strengthen the business portfolio Overview Transaction Details One of the largest income tax and e-filing companies specializing in digital solutions for tax and accounting. Operates under the brand “TaxSpanner” Stake: 98.3% Span Across IT ► This transaction strengthens Zagg
Slide 24: 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 25: Seasoned management team and board (2/2)
Seasoned management team and board (2/2) Board of Directors Prerna Tandon Arun Vijaykumar Gupta Independent Director Independent 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 26: Zaggle in a nutshell
Zaggle in a nutshell Seasoned management team Seasoned Multi-product SaaS based platform with a and board team strategy comprehensive product stack Robust Revenues from operations in FY25 Technology financial In-house technology with strong have grown y-o-y at 68.0% with a and metrics network effect
Slide 27: Historical financials
aggle” Historical financials
Slide 28: Historical financial and operating metrics
Historical financial and operating metrics Corporate customers Aggregate users (1) (Mn) Revenue from operations (₹ Mn) 3.28 13,026 3,455 3,016 2.73 2,411 2.27 7,756 1,753 1.72 5,535 1,092 0.90 3,713 2,400 FY2021 FY2022 FY2023 FY2024 FY2025 FY2021 FY2022 FY2023 FY2024 FY2025 FY2021 FY2022 FY2023 FY20
Slide 29: Historical profit and loss statement (standalone)
Historical profit and loss statement (standalone) Particulars (₹ Million, unless stated otherwise) FY25 FY24 FY23 FY22 FY21 Revenue from operations 13,026.5 7,756.0 5,534.6 3,712.5 2,399.7 Gross Profit 6,228.5 3,946.5 2,328.3 2,259.6 2,087.9 Gross Profit Margin 47.8% 50.9% 42.0% 60.8% 87.0% Employee
Slide 30: Historical balance sheet (standalone)
Historical balance sheet (standalone) Particulars (Rs. in Millions) 2025 2024 2023 2022 2021 Particulars (Rs. in Millions) 2025 2024 2023 2022 2021 ASSETS EQUITY AND LIABILITIES Non-current assets EQUITY Property, plant and equipment 396.83 25.32 23.5 19.8 9.5 Equity share capital 134.21 122.49 92.2
Slide 31: Annexure
Annexure 31 31
Slide 32: Key awards, accreditations and recognitions
Key awards, accreditations and recognitions Pioneering Best Team FinTech Best Use of FinTech Project in Disruptor of Content Innovation in APM the Year by Marketing Spend (FinTech) FINIXX 2025 (Fintech Management by INDIA Sector) by at the 5th DEVOPS FINIXX 2025 Edition of ET Dr. Raj was awarded MEM
Slide 33: 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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