Zaggle Prepaid Ocean Services Limited (ZAGGLE) AI Stock Analysis

Zaggle Prepaid Ocean Services Limited

(NSE:ZAGGLE)

Select Model

Rating:71Outperform

Price Target:INR 170.00▲(8.15% Upside)

Action:upgraded

Date:08/20/26

The stock scores above average primarily due to strong revenue growth, consistent profitability, and a significantly strengthened, low-debt balance sheet, but this is moderated by persistently negative and volatile cash flows that raise funding and execution risks, as well as currently weak technical momentum and only moderately attractive valuation.

Positive Factors

Strong Revenue ScalingSustained revenue expansion indicates that Zaggle is continuing to scale its enterprise expense-management and employee-benefit offering. This growth can broaden its customer base, increase platform relevance, and provide operating leverage as the business develops over the next several quarters.

Negative Factors

Weak Cash ConversionNegative operating and free cash flow means reported profits are not consistently converting into cash, creating execution risk as the company scales. Continued outflows could increase reliance on working-capital discipline or funding flexibility and may constrain the pace of internally financed investment.

Zaggle Prepaid Ocean Services Limited (ZAGGLE) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 20.73B
Dividend Yield: ―
Average Volume (3M): 191.52K
Price to Earnings (P/E): 16.0
Beta (1Y): 1.79
Revenue Growth: 44.48%
EPS Growth: 27.93%
Country: India
Employees: 312
Sector: General
Sector Strength: 55
Industry: Software - Infrastructure

Zaggle Prepaid Ocean Services Limited Business Overview & Revenue Model

Company Description

Zaggle Prepaid Ocean Services Limited, founded in 2011 and headquartered in Mumbai, India, develops cutting-edge financial products and solutions aimed at automating and optimizing business expense management for corporations, small and medium-sized...

Zaggle Prepaid Ocean Services Limited Financial Statement Overview

Summary

Strong revenue and earnings growth and a much-improved, low-leverage balance sheet are offset by persistently weak and volatile cash generation, which tempers the otherwise solid financial profile.

Income Statement

82Very Positive

Balance Sheet

88Very Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	19.99B	19.08B	13.04B	7.76B	5.53B	3.71B
Gross Profit	7.66B	7.48B	5.57B	3.35B	1.89B	2.01B
EBITDA	2.05B	2.27B	1.41B	815.51M	477.27M	566.45M
Net Income	1.30B	1.38B	879.19M	440.20M	229.01M	419.21M
Balance Sheet
Total Assets	0	15.54B	13.15B	6.96B	2.35B	926.53M
Cash, Cash Equivalents and Short-Term Investments	5.46B	5.46B	6.53B	2.83B	238.28M	36.11M
Total Debt	0	546.34M	198.78M	866.27M	1.41B	703.11M
Total Liabilities	-14.07B	1.47B	660.72M	1.21B	1.86B	962.11M
Stockholders Equity	14.07B	14.04B	12.48B	5.75B	487.51M	-35.58M
Cash Flow
Free Cash Flow	-752.98M	-1.27B	-477.83M	-1.29B	-317.89M	125.09M
Operating Cash Flow	-343.62M	-201.51M	197.02M	-827.46M	-156.18M	200.81M
Investing Cash Flow	770.79M	347.05M	-4.86B	-3.32B	-181.48M	-98.69M
Financing Cash Flow	-38.17M	484.10M	4.96B	4.03B	526.44M	-122.90M

Zaggle Prepaid Ocean Services Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price157.19

Price Trends

50DMA175.78Negative

100DMA190.29Negative

200DMA219.11Negative

Market Momentum

MACD-5.60Positive

RSI36.63Neutral

STOCH48.29Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZAGGLE, the sentiment is Negative. The current price of 157.19 is below the 20-day moving average (MA) of 164.40, below the 50-day MA of 175.78, and below the 200-day MA of 219.11, indicating a bearish trend. The MACD of -5.60 indicates Positive momentum. The RSI at 36.63 is Neutral, neither overbought nor oversold. The STOCH value of 48.29 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ZAGGLE.

Zaggle Prepaid Ocean Services Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:ZAGGLE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:ZAGGLE	71Outperform	INR 20.73B	15.99	―	―	44.48%	27.93%
IN:CCAVENUE	66Neutral	INR 40.18B	22.25	―	―	110.17%	23.73%
IN:EMUDHRA	65Neutral	INR 28.25B	24.11	―	0.37%	29.74%	25.01%
IN:PAYTM	61Neutral	INR 1.05T	122.33	―	―	23.79%	―
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:ZAGGLE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:ZAGGLE	Zaggle Prepaid Ocean Services Limited	154.20	-218.15	-58.59%
IN:AGSTRA	AGS Transact Technologies Ltd.	1.97	-2.23	-53.10%
IN:EMUDHRA	eMudhra Limited	341.10	-297.80	-46.61%
IN:CCAVENUE	Infibeam Avenues Ltd.	120.47	-73.83	-38.00%
IN:PAYTM	One 97 Communications Ltd.	1635.00	360.05	28.24%
IN:CAPILLARY	Capillary Technologies India Ltd.	503.45	-103.45	-17.05%

Zaggle Prepaid Ocean Services Limited Corporate Events

Zaggle Secures Five-Year Extension for Statutory Auditor M S K A & Associates LLP

Sep 29, 2026

Zaggle Prepaid Ocean Services Limited provides prepaid payment solutions and related financial-technology services to corporate clients, operating within India’s expanding digital payments and expense management market. As a listed company on N...

Zaggle Reclassifies Board Director Arun Gupta as Non-Independent

Sep 29, 2026

Zaggle Prepaid Ocean Services Limited has announced a change in the board status of director Arun Vijaykumar Gupta, who has been re-designated from Non-Executive Independent Director to Non-Executive Non-Independent Director. The move was approved by...

Zaggle Sets September 29 Virtual AGM, Opens Remote E-Voting Window

Sep 7, 2026

Zaggle Prepaid Ocean Services Limited has scheduled its 15th Annual General Meeting for September 29, 2026, at 3:30 PM IST, to be conducted via video conferencing and other audio-visual means, with the notice and annual report for FY 2025-26 circulat...

Zaggle Files 2025-26 Sustainability Report Highlighting Governance and Stakeholder Focus

Sep 7, 2026

Zaggle Prepaid Ocean Services Limited, a fintech and prepaid services provider, operates through digital-first platforms that adhere to major global compliance and quality standards, including ISO and SOC certifications, and maintains a strong focus...

Zaggle Publishes Q1 FY27 Earnings Call Transcript for Investors

Aug 21, 2026

Zaggle Prepaid Ocean Services Limited has released the transcript of its Q1 FY27 earnings conference call, held on August 14, 2026, covering its operational and financial performance for the quarter ended June 30, 2026. The company has submitted this...

Zaggle to Pursue Further Appeal After Tax Demand Challenge Dismissed

Aug 15, 2026

Zaggle Prepaid Ocean Services Limited, a fintech and payments company listed on NSE and BSE, provides prepaid and digital payment solutions along with expense management services to corporates and consumers in India.The company has reported that its...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 20, 2026

Zaggle Prepaid Ocean Services Limited AI Stock Analysis