Any current/future new fundraising through debt or equity?

The company is **not currently looking to dilute any equity** as stated by Raj Narayanam on page 21. They have **raised enough money** already, with INR 400-445 crores available from previous raises (page 21). The funds raised earlier were primarily for acquisitions, and they continue to look for **good, accretive acquisition deals**. No specific commitments or plans for **new debt or equity fundraising** were mentioned for the near future (page 17). The company is focused on generating **positive operating cash flow** and expects to break even in Q4 FY '26 and be cash flow positive from FY '2

Any current/future capex/capital investment/strategic investment?

The company has raised significant capital (INR 445 crores) primarily for acquisition purposes, indicating ongoing focus on strategic investments. There are active acquisition discussions, including being "on the cusp of closure" for Dice, with other term sheets in progress. There is no current plan to dilute equity further, suggesting reliance on existing capital for strategic investments. The management is focused on deploying raised capital effectively to generate outsized returns, with successful investments like Greenedge demonstrating this. AI and R&D remain key areas of investment, aimi

Future growth expectations in sales/revenue/volumes?

The company projects a revenue growth of 40% to 45% for FY 2026, based on organic, domestic growth. This growth guidance excludes contributions from acquisitions and international expansion, which could add further upside. Over the next 5-7 years, the company targets reaching $1 billion in revenue with 14%-15% adjusted EBITDA margins. Rapid growth phase is ongoing, with expectations of scaling market share domestically and internationally (e.g., GCC markets). Growth is driven by expanding customer wins, increasing transaction volumes, and rising take rates due to ecosystem shifts. Acquisition

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Zaggle Prepaid Ocean Services LtdQ4 FY27IT - Services

Zaggle Prepaid Ocean Services Ltd Q4 FY27 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹206P/E: 25.5Market Cap: ₹3.2K CrSector: IT - Services

Management growth scorecard

Revenue

Category 1

Margin

Category 2

Fundraise

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 1

→The company projects a revenue growth of 40% to 45% for FY 2026, based on organic, domestic growth.
→This growth guidance excludes contributions from acquisitions and international expansion, which could add further upside.
→Over the next 5-7 years, the company targets reaching $1 billion in revenue with 14%-15% adjusted EBITDA margins.
→Rapid growth phase is ongoing, with expectations of scaling market share domestically and internationally (e.g., GCC markets).
→Growth is driven by expanding customer wins, increasing transaction volumes, and rising take rates due to ecosystem shifts.
→Acquisition like Greenedge is performing well, likely contributing to future growth.
→The business emphasizes AI-driven efficiencies to speed product rollouts and improve customer responsiveness, supporting growth momentum.

Margin guidance

Category 2

Future Growth Expectations for Zaggle Prepaid Ocean Services Limited: - Revenue Growth: Guidance of 40%-45% organic, domestic revenue growth for FY '26; additional growth expected from acquisitions and international markets. - Margin Expansion: Target of adjusted EBITDA margin reaching 14%-15% within 5-7 years, alongside $1 billion revenue milestone. - Operating Cash Flow: Expected to break even by end of FY '26 and become significantly positive in FY '27. - Profitability: PAT showed 77.7% Y-o-Y growth in Q3 FY '26, with sustained margin improvement; focus on strong bottom-line discipline. - ROE & ROCE: Aiming to raise Return on Equity closer to 25%-30% over a 5-year horizon as business scales and operating leverage kicks in. - Use of Capital: Capital deployment in acquisitions like Greenedge is expected to generate outsized returns, improving overall profitability. - AI Integration: Adoption of AI to accelerate product development and operational efficiencies, supporting faster growth and improved financial metrics.

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Fundraise plans

→The company is **not currently looking to dilute any equity** as stated by Raj Narayanam on page 21.
→They have **raised enough money** already, with INR 400-445 crores available from previous raises (page 21).
→The funds raised earlier were primarily for acquisitions, and they continue to look for **good, accretive acquisition deals**.
→No specific commitments or plans for **new debt or equity fundraising** were mentioned for the near future (page 17).
→The company is focused on generating **positive operating cash flow** and expects to break even in Q4 FY '26 and be cash flow positive from FY '27 onwards (pages 9 and 21).

Order book

The transcript does not specifically mention the current or expected order book or pending orders in explicit terms. However, relevant insights include: - The company highlighted "customer wins" with significant growth potential and large contracts with strategic importance, indicating a robust pipeline. - Acquisition updates: nearing closure on Dice acquisition, others in the pipeline. - Strong growth momentum and cross-sell opportunities across multiple marquee clients (e.g., House of Hiranandani, CK Birla Healthcare, HT Media). - Expansion into new markets such as the GCC region (UAE, Abu Dhabi base). - Continuous onboarding of daily clients indicating an ongoing inflow of business but no fixed "order completion" due to SaaS model nature. In summary, the company sees solid future opportunities and a dynamic order pipeline without quantifying a formal order book or pending orders.

Capex plans

Yes

→The company has raised significant capital (INR 445 crores) primarily for acquisition purposes, indicating ongoing focus on strategic investments.
→There are active acquisition discussions, including being "on the cusp of closure" for Dice, with other term sheets in progress.
→There is no current plan to dilute equity further, suggesting reliance on existing capital for strategic investments.
→The management is focused on deploying raised capital effectively to generate outsized returns, with successful investments like Greenedge demonstrating this.
→AI and R&D remain key areas of investment, aiming to improve operational efficiency and reduce product deployment times.
→No specific mention of traditional capex; the emphasis is more on acquisitions, technology integrations, and organic growth initiatives across domestic and international markets (e.g., GCC expansion).

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