Zaggle Prepaid Ocean Services (ZAGGLE) Q4 24/25 earnings summary

Executive summary

• Achieved record FY25 revenue of INR 13,037.57 million, up 68% YoY, and PAT of INR 878.98 million, nearly double last year, reflecting strong growth and profitability.

• Q4 FY25 revenue reached INR 4,114.5 million (+50.5% YoY), with PAT at INR 319.6 million (+66.8% YoY), marking the third consecutive year of record performance.

• Board approved audited standalone and consolidated financial results for FY25, with unmodified audit opinions from statutory auditors.

• Strategic investments in AI-powered SaaS, new platform launches, and M&A expanded offerings and customer reach.

• Customer base grew to 3,455 corporates and 3.28 million aggregate users, with churn below 1.5%.

Financial highlights

• FY25 consolidated revenue from operations was INR 13,037.57 million, up from INR 7,755.98 million YoY; PAT was INR 878.98 million, up from INR 440.20 million.

• Adjusted EBITDA (before ESOP) for FY25 was INR 1,244.9 million (+45.5% YoY); gross profit was INR 6,228.5 million (+57.8% YoY), with a gross margin of 47.8%.

• Q4 FY25 revenue grew 51% YoY to INR 411 crore; adjusted EBITDA up 40% to INR 38 crore; PAT up 67% to INR 32 crore.

• Cash and cash equivalents at year-end were INR 381.81 million, up from INR 79.40 million in FY24.

• Cash flow from operations turned positive in FY25 after negative cash flow in FY24; DFO improved from 82 to 60 days.

Outlook and guidance

• FY26 topline organic growth projected at 35%-40%, with EBITDA margin guidance raised to 10%-11%.

• Long-term EBITDA margin target of 12%-15% over the next 3-4 years, with annual improvement of 100 bps expected.

• Consolidated revenue growth could reach 80% if planned acquisitions close before September.

• Unutilised IPO and QIP proceeds as of March 31, 2025, were temporarily invested in deposits with scheduled commercial banks and monitoring accounts.

• Funds raised are earmarked for customer acquisition, technology development, debt repayment, and strategic investments.