Zaggle Prepaid Ocean Services Limited has scheduled its 15th Annual General Meeting for Tuesday, September 29, 2026, at 3:30 pm. The meeting will be conducted through Video Conferencing or Other Audio Visual Means in compliance with regulatory guidelines.

The company issued the notice on August 28, 2026, aligning with the Ministry of Corporate Affairs and SEBI circulars permitting virtual meetings without physical presence. Shareholders can access the Notice of the AGM and the Integrated Annual Report for FY25-26 electronically.

Voting and Participation Details

Members holding shares as of the cut-off date will be eligible to vote. The company is providing a remote e-voting facility through KFin Technologies Limited. Members who have registered their email addresses with the company, Registrar and Transfer Agent, or Depositories will receive login details via email.

Key dates and procedures include:

• AGM Date: September 29, 2026, at 3:30 pm IST
• Mode: Video Conferencing / Other Audio Visual Means
• E-voting Platform: KFin Technologies Limited
• Physical Shareholders: Must submit Form ISR-1 to the RTA by September 2, 2026, to register email IDs and obtain voting credentials

Document Access

The Notice of the AGM and the Annual Report for the financial year 2025-26 are available on the company’s website at www.zaggle.in . They are also accessible on the websites of the National Stock Exchange of India Limited, BSE Limited, and the Registrar and Transfer Agent, KFin Technologies Limited.

Zaggle Prepaid Ocean Services reported a 28% year-on-year revenue increase to ₹423 crore for the quarter ended June 30, 2026. Adjusted EBITDA margin contracted to 8.2% from 10.1% in the prior year period, driven by acquisition integration costs and accounting policy changes.

The company highlighted sustained top-line momentum across its standalone business and subsidiaries. Standalone revenue reached approximately ₹390 crore, an 18% expansion over ₹331 crore in Q1FY26. Management emphasized a strategic shift toward improving cash flows and calibrating capitalization to position the firm for higher-margin growth in subsequent quarters.

Financial Performance

Consolidated revenue growth of 28% reflected operational momentum despite Q1 being historically soft due to seasonality. The adjusted EBITDA stood at around ₹34.7 crore. The overall cost base, including employee costs and other expenses, rose by approximately 25% comparing Q1FY27 to Q4FY26 at a consolidated level.

Management attributed the margin compression to four major areas. These included expenses related to the DICE acquisition, such as relocation costs for transitioning 100 AI professionals from Pune to Hyderabad and one-time tech vendor payments. Additionally, the company moderated the push of expenses into the P&L that were previously capitalized, alongside standard employee increments and costs from the ZaggMoney acquisition.

What the Numbers Show

The divergence between revenue growth and margin expansion highlights the transitional nature of this quarter. While revenue grew 28%, the cost base expanded by 25% sequentially from Q4FY26. This suggests that while top-line momentum is strong, the immediate impact of integrating new acquisitions and shifting accounting policies has pressured profitability. The company noted that revenue from novated DICE contracts will only start realizing from Q2FY27, implying that current costs are front-loaded without corresponding immediate income recognition.

Subsidiary Updates

Subsidiary performance contributed significantly to the consolidated results. 86400, formerly Mobileware, saw revenues grow 29% YoY to ₹22 crore, with EBITDA rising 214% to ₹8.8 crore. GreenEdge revenues surged 160% to ₹44 crore, while TaxSpanner reported revenues of ₹80 lakh, a 65% increase. The company also announced a strategic investment of around ₹8 crore in Unobanc Private Limited, which operates under the brand moneyHOP.

Strategic Initiatives

Zaggle continues to expand its AI capabilities through the DICE acquisition, securing the spend management product suite and intellectual property for approximately ₹68 crore excluding GST. Contract novation for over 85 clients is underway, with completion expected by the end of Q2FY27. The company also rebranded Rio.Money as Zagg.Money, increasing its annualized run rate for new card acquisitions to around 84,000 cards. International expansion plans include opening a subsidiary in Abu Dhabi Global Markets within Q2FY27.