Zaggle Prepaid Ocean Services Ltd Q3 FY2025-26 Earnings Conference Call
•February 12, 2026
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Why It Matters
The quarter’s record revenue and AI‑enabled efficiency signal Zaggle’s accelerating growth, positioning it to capture larger enterprise spend and expand globally, which could translate into sustained earnings upside for investors.
Key Takeaways
- •Revenue hit ₹498 crore, up 48% YoY, near target.
- •Adjusted EBITDA reached ₹51 crore, 63% YoY growth for quarter.
- •AI-driven workflow cuts product rollout from 75 to 30 days.
- •Acquisitions like Greenidge and Rio.money boost ecosystem revenue.
- •International expansion includes GIFT City subsidiary and Abu Dhabi operations.
Summary
Zaggle Prepaid Ocean Services Ltd delivered its Q3 FY2025‑26 earnings, reporting a record ₹498 crore revenue—up 48% year‑over‑year—and an adjusted EBITDA of ₹51 crore, the first time crossing the ₹50 crore mark. The company highlighted a 63% YoY rise in EBITDA, a 78% jump in profit after tax to ₹36 crore, and a 41% revenue increase for the nine‑month period, underscoring robust margin expansion across its SaaS fintech platform.
Key drivers included aggressive AI integration, where agentic AI workflows slashed product development cycles from 75 days to under 30, accelerating time‑to‑market. Strategic acquisitions such as Greenidge, which grew from ₹36 crore FY25 to ₹65 crore in nine months, and the completion of Rio.money (now Zack.money) fortified the ecosystem, adding new revenue streams and cross‑sell opportunities. Partnerships with Visa, Mastercard, and Euronet expanded the prepaid card offering, while the launch of the 86400 (formerly Mobilewear) credit‑line‑on‑UPI product generated over ₹50 crore in loans in its first quarter.
The call also featured notable milestones: CEO Ain Gkindi received India’s most influential PE award and the Sunicon CEO award; the firm announced a new employee‑tax‑benefit regime boosting its corporate client base; and it secured a seven‑year Visa co‑branding deal and a five‑year Mastercard agreement. Internationally, Zaggle approved a wholly‑owned subsidiary in GIFT City and is finalising a UAE entity in Abu Dhabi, signaling a push into global cross‑border payments.
These developments position Zaggle to monetize its 3.7 million salaried users, target ₹500 crore revenue from this segment within five years, and achieve operating cash‑flow positivity by FY27. The blend of AI‑driven efficiency, acquisition synergies, and geographic expansion suggests a sustainable growth trajectory that could deliver significant upside for shareholders.
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