Zaggle Prepaid Ocean Services Ltd. has signed a five-year agreement with Crompton Greaves Consumer Electricals Ltd. for the deployment of its Zaggle Save platform, strengthening the fintech company’s enterprise client base.
The agreement was executed on June 10, 2026.
Shares of Zaggle, which has a market capitalisation of ₹2,608 crore, were trading at ₹193.9, down 1.52% from the previous close of ₹196.9. The stock trades at a P/E ratio of 19.72.
Crompton Greaves to use Zaggle Save platform
Under the agreement, Crompton Greaves will use Zaggle’s platform for:
- Employee expense management
- Employee benefits administration
The company said:
- The contract is domestic in nature.
- It does not involve any related-party transaction.
- Zaggle’s promoter group has no interest in Crompton Greaves.
The financial value of the deal has not been disclosed.
Revenue from the contract will depend on:
- The number of active users each month
- Program fees linked to actual spending by users
The five-year tenure provides revenue visibility and lowers the risk of customer attrition.
Ashish Kacholia holds stake
Ace investor Ashish Kacholia owns a 2.23% stake in Zaggle, according to the source copy.
Strong FY26 performance
Zaggle reported strong growth in FY26.
For the full year:
- Revenue rose 42% to ₹1,853 crore from ₹1,303 crore in FY25.
- Net profit increased 53% to ₹133 crore from ₹87 crore.
- Operating margins remained at 10%.
Q4 FY26 performance
During the fourth quarter:
- Revenue stood at ₹593 crore.
- Net profit came in at ₹38 crore.
The source copy also noted that interest costs declined to ₹5 crore in FY26, compared with ₹14 crore in FY24.
Company profile
Headquartered in Hyderabad, Zaggle Prepaid Ocean Services offers SaaS-based spend management solutions.
Its platforms include:
Propel
- Employee rewards and incentives
Save
- Expense management
Zoyer
- Accounts payable solutions
The company is listed on both the BSE and NSE.
TL;DR:
Zaggle Prepaid Ocean Services has signed a five-year agreement with Crompton Greaves Consumer Electricals to provide employee expense management services through its Zaggle Save platform. The deal adds long-term revenue visibility for the fintech company.
AI summary:
- Zaggle signed a five-year agreement with Crompton Greaves.
- The company will deploy its Zaggle Save expense management platform.
- Revenue from the contract will depend on active users and spending.
- FY26 revenue grew 42% to ₹1,853 crore.
- Ashish Kacholia holds a 2.23% stake in Zaggle.
