Zaggle Prepaid Ocean Services (ZAGGLE) Q4 25/26 earnings summary

Executive summary

• Achieved record annual and quarterly financial performance in FY26, with consolidated revenue of INR 19,076 million (up 46.3% YoY), adjusted EBITDA of INR 1,916 million (up 51.0% YoY), and PAT of INR 1,388 million (up 51.8% YoY).

• Standalone and consolidated audited financial results for the quarter and year ended March 31, 2026, were approved, with unmodified audit opinions issued by statutory auditors.

• Expanded active user base to 3.9 million and corporate customers to over 3,900, reflecting robust platform adoption.

• Strategic acquisitions completed, including GreenEdge, Rivpe Technology (now Zag.money), and asset purchase of Dice; new subsidiary incorporated in GIFT City for SaaS and cross-border payments.

• Focused on AI-driven innovation, operational efficiency, and international expansion, particularly in the UAE, US, and GIFT City.

Financial highlights

• Consolidated FY26 revenue from operations reached INR 19,076.46 million, up from 13,037.57 million in FY25; adjusted EBITDA INR 1,916 million (up 51.0% YoY); PAT INR 1,388 million (up 51.8% YoY).

• Standalone FY26 revenue from operations was INR 18,528.12 million (up 42.2% YoY); adjusted EBITDA INR 1,828 million (up 46.8% YoY); PAT INR 1,329 million (up 51.9% YoY).

• Q4 FY26 consolidated revenue was INR 6,179 million (up 49.9% YoY); adjusted EBITDA INR 605 million (up 62.4% YoY); PAT INR 406 million (up 30.4% YoY).

• Propel platform contributed 57% of annual revenue, program fees 41%, and platform fees 2%.

• EBITDA margin expanded to 9.9% (consolidated) for FY26; PAT margin at 7.3% (consolidated); gross profit margin at 45.4%.

Outlook and guidance

• Standalone FY27 revenue growth projected at 25%-30%; consolidated growth at 40%.

• Growth to be driven by AI-first product development, expansion into MENA, US, and SaaS-based spend management, with deeper monetization across strategic pillars.

• EBITDA guidance to be provided after Dice integration; focus remains on cash flow improvement and margin expansion.

• International expansion in UAE delayed due to regional volatility; US launch targeted by FY-end.

• Company continues to monitor regulatory changes, including new Labour Codes, and will adjust accounting as needed.