Ashish Kacholia-Backed Tech Company Signs Agreement with Hero Motocorp; Complete Details Inside

Ashish Kacholia increased its stake from 2.21 per cent to 2.37 per cent as per the recent update.

Zaggle Prepaid Ocean Services Limited has entered into an agreement with Hero Motocorp Limited. Zaggle will provide Hero Motocorp Ltd with Zaggle Save (employee expense management & benefits). The period within which the order is to be executed is from July 4, 2024, until the termination of the agreement under mutually agreed terms.

Currently, Zaggle Prepaid Ocean Services Limited shares are trading at around Rs 301.05 per share. The company’s current market capitalization stands at Rs 3682.44 crore. The stock has delivered a return of around 37 per cent in just 6 months only.

As per the Quarterly Results, in the fourth quarter of FY24, Zaggle Prepaid Ocean Services Limited recorded a revenue of Rs 273 crore. The operating profit for Q4 FY24 stood at Rs 27 crore. The net profit for Q4 FY24 was Rs 19 crore. Looking at the annual performance, the company generated a revenue of Rs 776 crore in FY24, compared to Rs 553 crore in FY23. The operating profit for FY24 was Rs 71 crore, with a net profit of Rs 44 crore.

Zaggle builds financial solutions and products to manage the business expenses of corporates, SMEs, and startups through automated and innovative workflows. Headquartered in Hyderabad, it operates at the intersection of SaaS (Software as a Service) and Fintech. With over 273 employees, the company boasts more than 50 million co-branded prepaid cards.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.