Zaggle Prepaid Ocean Services Limited , a leading SaaS fintech player specializing in spend management solutions, has announced two significant developments: an equity share allotment under its employee stock option scheme and the release of its Q2 financial results.

ESOP Allotment

The company's Board of Directors has approved the allotment of 1,97,945 equity shares with a face value of INR 1 each to eligible employees under the Zaggle Employee Stock Option Scheme 2022. This allotment comes as a result of employees exercising their vested options. Following this issuance, Zaggle's paid-up equity share capital has increased from INR 13,42,54,022 to INR 13,44,51,967.

Key points of the allotment include:

• The newly allotted shares will rank equally with existing equity shares.
• The company has received in-principle approval from both BSE Limited and National Stock Exchange of India Limited for this employee stock option scheme.
• The share allotment date is set for November 14, 2025.

Q2 Financial Highlights

Zaggle has reported its highest-ever quarterly and half-yearly performance across all metrics for Q2. Here are the key financial highlights:

• The company achieved substantial half-yearly revenue of INR 7,625 million with an adjusted EBITDA margin of 10.0%.
• Q2 saw revenues of INR 4,310 million with an adjusted EBITDA margin of 10.1%.
• Zaggle has upgraded its revenue growth guidance to 40-45%, while maintaining its EBITDA guidance in the range of 10-11%.

Strategic Developments

Raj P Narayanam, Founder and Executive Chairman of Zaggle, highlighted several strategic initiatives:

1. Launch of new products: Zaggle GlobalPay Forex Card and Zaggle × Mastercard Prepaid Card.
2. Entry into the retail card segment in partnership with AU Small Finance Bank.
3. Expansion of banking partner network, adding Standard Chartered Bank, AU Small Finance Bank, and Suryoday Small Finance Bank.
4. Diversification across multiple payment methods, including Commercial credit cards, Prepaid cards, Retail cards, and UPI.

These developments are expected to create new synergies and drive further growth across Zaggle's business lines.

Company Overview

Zaggle, incorporated in 2011, has established itself as a leading player in spend management. The company boasts:

• Over 50 million prepaid cards issued in partnership with banking partners
• More than 3.5 million users served as of September 30, 2025
• A diverse portfolio of SaaS products, including tax and payroll software
• A wide-ranging network of corporate customers across various industries

As Zaggle continues to expand its product offerings and partnerships, it appears well-positioned to capitalize on the growing fintech market in India.

Conclusion

Zaggle's recent ESOP allotment and strong financial performance demonstrate the company's commitment to employee retention and its ability to deliver robust growth. With strategic expansions into new product segments and partnerships, Zaggle is poised for continued success in the competitive fintech landscape.

Zaggle Prepaid Ocean Services Limited , a leading SaaS fintech player in spend management solutions, has announced its highest-ever quarterly and half-yearly performance for Q2 and H1 FY26, alongside setting growth targets for the future.

Financial Highlights

For Q2 FY26, Zaggle reported:

• Revenue from operations of ₹4,309.80 crore, up 42.40% year-over-year (YoY)
• Adjusted EBITDA of ₹437.30 crore, a 48.10% YoY increase
• Profit After Tax (PAT) of ₹332.40 crore, surging 79.10% YoY
• Cash PAT reaching ₹404.40 crore

The half-yearly results for H1 FY26 were:

• Revenue from operations stood at ₹7,624.70 crore, a 37.40% YoY growth
• Adjusted EBITDA reached ₹764.60 crore, up 38.80% YoY
• PAT increased to ₹591.20 crore, showing a 67.60% YoY growth

Strategic Initiatives and Expansion

Zaggle has expanded its product portfolio and market presence:

1. New Product Launches: The company introduced two new products in its cards segment - Zaggle GlobalPay Forex Card and Zaggle × Mastercard Prepaid Card.

2. Retail Card Segment Entry: Zaggle entered the retail card segment through a partnership with AU Small Finance Bank.

3. Expanded Banking Partnerships: The company added Standard Chartered Bank, AU Small Finance Bank, and Suryoday Small Finance Bank to its network of banking partners.

4. Diversified Payment Methods: Zaggle now offers multiple payment methods, including Commercial credit cards, Prepaid cards, Retail cards, and UPI.

Future Outlook

Zaggle has upgraded its revenue growth guidance to 40-45%, while maintaining its EBITDA guidance in the range of 10-11%.

Management Commentary

Raj P Narayanam, Founder and Executive Chairman of Zaggle Prepaid Ocean Services Limited, stated, "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."

He added, "With our expanded ecosystem of banking and network partners, we are looking to create new synergies and drive further growth across business lines."

Company Overview

Incorporated in 2011, Zaggle is a leading player in spend management, operating in the business-to-business-to-customer segment. The company has issued over 50 million prepaid cards in partnership with banking partners and serves more than 3.5 million users as of September 30, 2025. Zaggle's network of corporate customers spans various industries, including banking and finance, technology, healthcare, manufacturing, FMCG, infrastructure, and automobile.

As Zaggle continues to innovate and expand its offerings, it remains well-positioned to capitalize on the growing fintech market in India, with a focus on spend management solutions for businesses and consumers alike.