ALFA Finder
The call ran from 5:31 PM to 6:13 PM IST (43 min).
Key takeaways
Total revenue up 34% YoY and consolidated operating cash flow turned positive, but only about 65% of DICE contracts are novated and EBITDA margin is about 7.7%.
| Revenue growth | Total revenue up 34% YoY, partly DICE-acquisition driven. |
|---|---|
| Margins | Consolidated adjusted EBITDA margin about 7.7%; FY27 guided 7-8%. |
| Demand visibility | Festive uplift; Save tax-wallet loads up about 6x; UPI MDR tailwind pending. |
| Management confidence | Optimistic but hedged; cautious on ZAD burn and MDR timing. |
Growth
Revenue up 34% YoY, partly from the DICE acquisition (SaaS). Program fees grew only about 12.5% YoY, with cashback steady near 66%.
Outlook
FY27 EBITDA margin guided at 7-8%. Remaining DICE contracts expected to novate in Q3.
Risks
DICE revenue lags novation (30-35% of contracts pending). ZAD Money burn ahead. UPI MDR timing depends on government. Program fee growth slowing.
Last quarter's promises, checked
Delivered
- Guided growth to accelerate through Q2 (Q1: 28%) → total revenue 34% YoY (= BEAT)
Partly delivered
- Guided program-fee growth to improve from ~10% → 12.5% YoY, still described as slowing (= PARTIAL)
- Guided DICE revenue from 1 Jul (Q2) → revenue flowing, but 30-35% of contracts pending (= PARTIAL)
Missed
- Guided 40% consolidated growth → 34% YoY (= MISS)
- Guided 85+ DICE contract novations complete by end-Q2 FY27 → ~65% novated, remainder slipped to Q3 (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Zaggle Prepaid Ocean Services Q2 FY27 Results: Net Profit ₹24.5 Cr, Down 30.0% YoY
Zaggle Prepaid Ocean Services Ltd reported revenue from operations of ₹579.9 Cr (+34.2% YoY) and net profit of ₹24.5 Cr (-30.0% YoY) for Q2 FY27.
- Key figure
- Net profit ₹24.5 Cr · -30.0% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Management reiterated 40% consolidated revenue growth guidance for FY27, banking on DICE revenue from Q2 onwards.
Growth they described
Revenue hit ₹423 Cr; organic growth slowed to 18% as management prioritized cash flows over aggressive volume.
Call details
| Company | Zaggle Prepaid Ocean Services Ltd |
|---|---|
| NSE symbol | ZAGGLE |
| ISIN | INE07K301024 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 13 November 2026 |
| Time | 5:30 PM IST |
| Length | 43 min |
| Audio | Our stream on YouTube ↗ |
Zaggle Prepaid Ocean Services Ltd: key numbers
- Share price
- ₹173.32
- Market cap
- ₹2,330 Cr
- Revenue (annual)
- ₹1,908 Cr
- Net profit (annual)
- ₹138.1 Cr
- P/E (TTM)
- 19.6×Sector 23.7×
- Promoter holding
- 44.30%+0.00% QoQ
- FII holding
- 2.49%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
Other calls on Fri, 13 Nov
Today's concalls →
