Fintech firm Zaggle Prepaid Ocean Services Ltd has entered into a three-year agreement with Daimler India Commercial Vehicles Private Limited (DICV) to provide its Zaggle Zatix and Corporate Credit Card Program for the commercial vehicle maker's fleet partners. According to a stock exchange filing, the agreement was signed on July 27, 2026, and will remain in force for a period of three years. The partnership involves offering the Zaggle Zatix platform and Corporate Credit Card Program to DICV for its fleet partners, with the agreement covering a domestic entity.
The commercial consideration under the agreement will be proportional to the number of fleet partners and drivers onboarded by Zaggle, as well as the spending at authorised DICV touchpoints during the tenure of the agreement. As reported by CNBC TV18, the company stated that it is not possible to ascertain the value or amount of the contract at this stage due to this variable structure. The agreement does not constitute a related-party transaction, and neither the promoter nor promoter group companies have any interest in DICV.
Zaggle Prepaid Ocean Services operates as a leading spend management company with a differentiated value proposition and diversified user base. The company operates in the business-to-business-to-customer (B2B2C) segment and is one of the largest issuers of prepaid cards in India through partnerships with leading banks. Additionally, the company offers a diversified portfolio of software-as-a-service (SaaS) products, including tax and payroll software, positioning it as a comprehensive fintech solutions provider in the Indian market.
The company demonstrated robust financial performance in Q4 FY26, with consolidated net profit surging 30.42% to ₹40.60 crore compared to the same period in the previous year. Revenue from operations showed even stronger growth, increasing 49.94% to ₹671.91 crore in Q4 FY26 versus Q4 FY25. This significant revenue expansion reflects the company's successful business model and market positioning in the fintech sector.
Shares of Zaggle Prepaid Ocean Services Ltd ended at ₹203.45, up ₹3.25 or 1.62% in the previous trading session, following the announcement. As reported by Moneycontrol, the stock is currently trading 51.26% below its 52-week high of ₹417.40 and 9.65% above its 52-week low of ₹185.55, which was touched on March 30, 2026. The company's market capitalization stands at ₹2,735.56 crore, and the stock trades with a Price to Earnings ratio of 19.78, significantly below the sectoral P/E of 46.79. Narayanam noted that the company has never gone below its guidance and has always been a little bit above, adding that the company prefers to under promise and over deliver.
