This Ashish Kacholia stock offers financial solutions and products to manage the expenses related to business for corporates, Startups, and SMEs through automated workflows hit 5 percent upper circuit is in focus after receiving the export order worth Rs. 580 crores of Defence Products to an International Entity
Price Movement
In Monday’s trading session, Zaggle Prepaid Ocean Services Limited stock hit a 5 percent upper circuit in the day’s trade after an agreement with Can Fin Homes for Expense Management. The stock has delivered a return of around 67 percent in the past year outperforming the Nifty Index in the same period. The stock hit a 5 percent upper circuit at Rs. 436.65 apiece from the previous closing price of Rs. 415.90 per share.
What happened
The stock hit the upper circuit after the company entered into an agreement with Can Fin Homes Limited for Zaggle Zoyer Petty cash and Zaggle Save (Employee expense management and benefits) propositions. The time period of the order execution is 2 years.
Financial Performance
Their Q1FY25 results show revenue from operations of Rs. 252 crore which increased by 113 percent year on year, from Rs. 118 crore in Q1FY24 and a 7.69 percent decrease from Rs. 273 crore in Q4FY24. Their net profit increased by 750 percent year on year, from Rs. 2 crores in Q1FY24 to Rs. 17 crores in Q1FY25. Quarterly, the profits were down 10.52 percent from Rs. 19 crore.
The debt-to-equity ratio was 0.37 times declined from 4.68 times in FY23. The RoE in FY24 stood at 14.11 percent declining from 75.54 percent a year ago. However, the RoCE stood at 17.21 percent which has decreased from 31.41 percent in FY23. The decline in return ratios is attributed to a reduction in debt.
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Revenue Segment
According to the company’s quarterly June 2024 report, they report their revenue from Program fee – 50.33 percent, propel platform revenue – 46.32 percent, and Platform fee – 3.34 percent in Q1FY25.
Shareholding Pattern
As of September 2024, the shareholding pattern includes promoters holding a major share of 43.88 percent stake in Zaggle Prepaid Ocean Services, Foreign Institutional Investors (FII) holding around 6.14 percent, Domestic Institutional investors (DII) standing at 10.69 percent, and public holdings standing at 39.27 percent with Asish Kacholia holding 2.37 percent and increased his stake in the previous year consecutive quarters. He has kept his stake consistent in recent quarters.
About the company
Zaggle Prepaid Ocean Services Limited, which was established in 2011 and headquartered in Hyderabad. They specialize in fintech solutions for corporate expense management. The company offers a range of SaaS products designed to streamline business spend management, employee rewards, and customer engagement through automated workflows.
They cater services to various sectors which include healthcare, banking, and FMCG. By providing tools like the Propel Platform for rewards management and the SAVE platform for expense tracking, Zaggle aims to improve operational efficiency for corporates and SMEs while fostering innovation in financial technology.
Written by Santhosh S
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