Zaggle Reports Record Q2 FY26 Results, Upps Revenue Guidance, Announces Key Partnerships & Acquisitions
Zaggle reported record Q2 FY26 results with 42% revenue growth and 79% PAT growth. It upped revenue guidance, completed an acquisition, and announced significant partnerships, including a retail co-branded credit card with AU Bank.
The announcement includes record financial results, increased revenue guidance, a major new retail co-branded credit card partnership with AU Bank projecting substantial future revenue, and strategic acquisitions, all of which are high-impact developments for the company's growth and market position.
The company reported its best-ever quarterly and half-yearly financial performance with strong growth across key metrics, increased revenue guidance, secured strategic partnerships with major banks, and made progress on acquisitions, indicating a very positive outlook.
* Zaggle Prepaid Ocean Services Limited reported its best-ever half-yearly and quarterly performance for Q2 and H1 FY26. * Q2 FY26 Financial Highlights (Y-o-Y growth): * Revenue: ₹431 crore (up 42%) * Adjusted EBITDA: ₹44 crore (up 48%) * PAT: ₹33 crore (up 79%) * Cash PAT: ₹40 crore (up 70%) * H1 FY26 Financial Highlights (Y-o-Y growth): * Revenue: ₹762 crore (up 37%) * Adjusted EBITDA: ₹77 crore (up 39%) * PAT: ₹59 crore (up 68%) * Cash PAT: ₹75 crore (up 63.9%) * Cash balances stood at approximately ₹573 crore as of September 30, 2025. Operating cash flow before taxes was negative ₹19 crore for H1 FY26, with normalization expected by year-end. * Acquisitions & Investments: * Existing acquisitions like Mobileware (rebranded 86400) generated ₹24 crore revenue, ₹7 crore EBITDA, and ₹4.8 crore PAT in Q2 FY26. * Completed signing transaction documents for Greenedge and expects to sign for two more announced acquisitions (Rio Money, Dice, EffiaSoft) soon. * Abandoned one large acquisition due to diligence findings. * After current acquisitions, approximately ₹430-440 crore cash will remain, with plans for 2-3 additional acquisitions. * Global Expansion: Preparing to expand into MENA and U.S. markets, with an office planned for GIFT City and subsequently in the MENA region. * Product Launches (Global Fintech Fest 2025): Launched Zaggle GlobalPay FOREX Card and a prepaid card with Mastercard and NSDL for channel partner payouts. * New Partnerships: * Entered a retail co-branded credit card partnership with AU Bank, expected to generate ₹500 crore in revenue and ₹50-60 crore in EBITDA annually in 4-5 years, with full operations starting April 2026. * Also partnered with AU Bank for corporate credit cards and co-branded prepaid cards. * Formed strategic partnerships with IDFC First Bank and Standard Chartered Bank to offer spend management solutions. * Strengthened partnership with Mastercard through a five-year customer business agreement. * Total banking partners now stand at 19. * Business Updates: Increased cross-sell percentage from 16% to 21% and onboarded new marquee clients like Adani Total Gas and Megha Gas for fleet management solutions. * Guidance: Upped revenue guidance to 40-45% growth, with EBITDA guidance remaining at 10-11%. Long-term EBITDA guidance is 14-15% in the next 4-5 years. * Issued warrants at ₹567 per share to Bennett Coleman and Company Limited, with promoter entity RAN Ventures also subscribing.
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Zaggle Prepaid Ocean Services Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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