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Zaggle Prepaid Ocean Services Limited (ZAGGLE) fair value: what the stock is really worth

As of Oct 1, 2026: fair value of Zaggle Prepaid Ocean Services Limited ₹284, price ₹172, upside +65.5%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Technology · IN · ISIN INE07K301024

ZP Some data Oct 1, 2026

Zaggle Prepaid Ocean Services Limited

ZAGGLE · NSE

Clearly undervaluedStrong Fair Value upside, but quality is only moderate.

✓Fair value ₹284.12 · Strongly undervalued (+65.5%)
!Quality 51/100
!Expensive Growth (revenue 5y +51.4 %/yr)
!Thin margins · 6.5% net margin (TTM)
!Low debt · negative free cash flow
✓Ranks above peers (11/12)
✓Wide moat 69/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹581.70 ₹158.35 Fair Value ₹284.12 Sep 2023 Oct 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 1, 2026.

How to read this chart

36‑month range ₹158.35 – ₹581.70 · fair‑value band ₹215.66 – ₹346.02 · the ₹171.73 price screens below the ₹284.12 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.

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Company profile

Zaggle Prepaid Ocean Services Limited builds financial products and solutions to manage the business expenses of corporates, small and medium-sized enterprises, and startups through automated workflows.

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Zaggle Prepaid Ocean Services Limited builds financial products and solutions to manage the business expenses of corporates, small and medium-sized enterprises, and startups through automated workflows. It operates Propel, a corporate software-as-a-service (SaaS) platform for channel rewards and incentives, employee rewards, and recognition; and Save, a SaaS-based platform and a mobile application to offer expense management solution for business spend management facilitating digitized employee reimbursements and tax benefits. The company also provides CEMS, a customer engagement management system that enables merchants to manage their customer experiences, including rewarding merchants through gift card and loyalty benefits; and Zaggle Payroll Card, a prepaid payroll card that enables customers to pay contractors, consultants, seasonal and temporary employees, and unbanked wage workers as an alternative to direct deposits to bank accounts or cash payments. In addition, it operates Zoyer, an integrated data driven SaaS based business spend management platform with embedded automated finance capabilities in core invoice to pay workflows. The company was incorporated in 2011 and is based in Mumbai, India.

Stock analysis

Zaggle Prepaid Ocean Services Limited (ZAGGLE) currently trades at ₹171.73, while our model-based Fair Value estimate is ₹284.12, implying the stock looks roughly 39.6% undervalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹519.02 per share, and 10 of the 15 models we run sit above the ₹171.73 price.

Bear case: the Asset-Based group reads lowest at ₹69.97, and 5 of the 15 models stay below the price. Evidence for this calculation is medium.

Scenario range: ₹215.66 (bear) to ₹346.02 (bull), the price of ₹171.73 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 51/100 (solid quality), in the Technology sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Zaggle Prepaid Ocean Services Limited reported revenue of ₹19.1B in FY2026 versus ₹3.7B in FY2022, a compound +50.6%/yr. Reported net income was ₹1.4B in FY2026, compounding +34.7%/yr from FY2022.

Key figures

Market cap ₹23.1B (≈ $240M) · P/E ratio 17.8 · P/S ratio 1.29 · EPS (TTM) ₹9.61 · Net margin 7.2% · Return on equity 10.5% · Return on assets (EBIT) 21.4% · Operating margin 29.4%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 57% below its 52-week high and 7% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −23% fair-value upside, at 65%, ZAGGLE screens cheaper than that median.

Fair Value models

Bear ₹215.66 Fair Value ₹284.12 Bull ₹346.02
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹4.87 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV ₹94.60 ₹101.08 ₹106.34 74
Owner Earnings ₹99.76 ₹156.81 ₹256.39 72
ROIC Compounder ₹94.60 ₹101.08 ₹108.97 70
All 15 models by family
DCF Models
Owner Earnings ₹99.76 ₹156.81 ₹256.39 72
Earnings-Based
Graham-Dodd ₹69.83 ₹487.01 ₹683.44 61
Lynch FV ₹251.60 ₹359.43 ₹467.27 59
PEG = 1.0 ₹251.60 ₹359.43 ₹467.27 55
EPV ₹94.60 ₹101.08 ₹106.34 74
Multiples
P/E Multiple ₹215.66 ₹287.55 ₹359.43 63
P/S Multiple ₹130.94 ₹174.58 ₹218.23 58
P/B Multiple ₹130.94 ₹174.58 ₹218.23 55
EV/EBIT ₹238.81 ₹304.89 ₹370.96 66
EV/EBITDA ₹226.29 ₹288.19 ₹350.09 67
EV/Revenue ₹140.80 ₹183.75 ₹226.70 54
Asset-Based
NCAV (Graham) ₹52.22 ₹69.97 ₹104.43 54
Economic Profit
Residual Income ₹82.07 ₹87.26 ₹98.18 68
ROIC Compounder ₹94.60 ₹101.08 ₹108.97 70
Growth Earnings
Growth-Adj P/E ₹363.32 ₹519.02 ₹674.73 65

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Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 20

Profitability 64
Margins and returns on capital today
Quality Growth 65
Are margins and returns improving?
Cashflow 6
Earnings quality: real cash, not paper profit
Fin. Strength 100
Balance sheet, leverage, solvency risk
Investment 27
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 11
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 32
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 58/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+46.3%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+51.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+51.4%
Start year 2021 (pandemic)
What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+45.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+45.3%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 8%
2026 sits 154% above its own trend. The rate follows the median trend of the last 5 years, not that single year.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 339 stocks

Beats the industry median on 10/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 51 · Below median
Fair Value upside +65.4% · Top 25%
Profitability
Return on equity (TTM) 10.5% · Above median
Return on assets 28.5% · Top 25%
Net margin (TTM) 6.5% · Above median
Operating margin (TTM) 29.4% · Top 25%
Growth and dividend
Revenue growth 27.5% · Top 25%

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/E (TTM) 17.8× · Cheaper than median
P/B 1.65× · Cheaper than median
P/S (TTM) 1.16× · Cheaper than median
EV/EBITDA 2.5× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 28
FUTURE (revenue growth)100 · sector 59
PAST (return on equity)42 · sector 26
HEALTH (low debt)100 · sector 98
DIVIDEND (yield)0 · sector 34

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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CoreWeave, Inc CRWV $87.12 $58.32 −33%
Block, Inc XYZ $76.42 $76.95 +1%
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Okta, Inc OKTA $202.18 $142.12 −30%

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Zaggle Prepaid Ocean Services Limited · Fair Value
₹284.12 +40%Fair Value
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Cite: Fair Value Calculator (2026). "Zaggle Prepaid Ocean Services Limited Fair Value". https://www.fairvalue-calculator.com/stock/ZAGGLE

Frequently asked questions

Is Zaggle Prepaid Ocean Services Limited (ZAGGLE) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of ₹284.12 versus a price of ₹171.73, about +65% upside (undervalued).
What is the fair value of ZAGGLE?
Our model-based fair value for Zaggle Prepaid Ocean Services Limited is ₹284.12 (as of Oct 1, 2026), built from audited fundamentals. The current price: ₹171.73.
What is the quality score of ZAGGLE?
Zaggle Prepaid Ocean Services Limited has a Quality Score of 51/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
Our model-based price target is the fair value of ₹284.12 (as of Oct 1, 2026) from 15 valuation models. Cautious scenario ₹215.66, optimistic scenario ₹346.02. It is a calculation from audited fundamentals, not an analyst target.
What is the Zaggle Prepaid Ocean Services Limited stock forecast for 2026?
Our models put fair value at ₹284.12, about +65% upside versus a price of ₹171.73 (undervalued). Cautious scenario ₹215.66, optimistic scenario ₹346.02. The calculation is refreshed regularly with new filings.
What is the revenue of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
Zaggle Prepaid Ocean Services Limited reported trailing-twelve-month revenue of about ₹20.0B (latest available figure, as of Oct 1, 2026).
What is the intrinsic value of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zaggle Prepaid Ocean Services Limited it is ₹284.12 per share (as of Oct 1, 2026), against a price of ₹171.73. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Zaggle Prepaid Ocean Services Limited stock overvalued or undervalued in 2026?
As of Oct 1, 2026, ZAGGLE trades below its calculated fair value: price ₹171.73, fair value ₹284.12, a gap of about +65% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ZAGGLE?
No. The price is what the market pays today (₹171.73); the fair value is what the company's own numbers justify (₹284.12). For Zaggle Prepaid Ocean Services Limited the two are ₹112.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zaggle Prepaid Ocean Services Limited worth?
The market values Zaggle Prepaid Ocean Services Limited at about ₹23.1B (market capitalisation, as of Oct 1, 2026). Per share that is ₹171.73; our models calculate a fair value of ₹284.12 per share.
What do the bullish and bearish scenarios say about ZAGGLE?
Our models span a range for Zaggle Prepaid Ocean Services Limited: cautious scenario ₹215.66, base ₹284.12, optimistic ₹346.02 per share (as of Oct 1, 2026, price ₹171.73). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZAGGLE?
Zaggle Prepaid Ocean Services Limited trades at a price-to-earnings ratio of 17.8 (as of Oct 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹284.12 is built from several models across several years. Other multiples: P/B 1.7, P/S 1.2, EV/EBITDA 2.5.
How solid is the balance sheet of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
Balance-sheet figures for Zaggle Prepaid Ocean Services Limited (as of Oct 1, 2026): return on equity 10.5%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is ZAGGLE from its 52-week high?
Zaggle Prepaid Ocean Services Limited trades at ₹171.73, about 57% below its 52-week high of ₹401.35 and 7% above the low of ₹160.48 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹284.12 is for.
Which stocks are comparable to Zaggle Prepaid Ocean Services Limited?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, CrowdStrike Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Zaggle Prepaid Ocean Services Limited stock attractive at the current price?
The data as of Oct 1, 2026: price ₹171.73, calculated fair value ₹284.12 (+65%), Quality Score 51/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ZAGGLE calculated?
We run Zaggle Prepaid Ocean Services Limited through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹284.12, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Zaggle Prepaid Ocean Services Limited currently trades 40 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
The closing price on Oct 1, 2026 was ₹171.73. Our model-based fair value is ₹284.12, about +65% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zaggle Prepaid Ocean Services Limited right now?
The price is below even our cautious bear case (₹215.66). The market is more pessimistic than our downside scenario. Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Zaggle Prepaid Ocean Services Limited

How large is the market capitalisation of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
The market capitalisation of Zaggle Prepaid Ocean Services Limited is ₹23.1B (≈ $240M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
The price-to-sales ratio of Zaggle Prepaid Ocean Services Limited is 1.29 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
Earnings per share at Zaggle Prepaid Ocean Services Limited are ₹9.61 (price ÷ EPS = P/E 17.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
The net margin of Zaggle Prepaid Ocean Services Limited is 7.2% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
The return on equity (ROE) of Zaggle Prepaid Ocean Services Limited is 10.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
On an EBIT basis the return on assets of Zaggle Prepaid Ocean Services Limited is 21.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
The operating margin of Zaggle Prepaid Ocean Services Limited is 29.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
Revenue at Zaggle Prepaid Ocean Services Limited is growing +27.5% versus a year earlier (3y avg +51.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Zaggle Prepaid Ocean Services Limited (ZAGGLE)?
Earnings per share at Zaggle Prepaid Ocean Services Limited are growing −33.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Zaggle Prepaid Ocean Services Limited (ZAGGLE) generate?
The free cash flow of Zaggle Prepaid Ocean Services Limited is −₹1.3B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Zaggle Prepaid Ocean Services Limited (ZAGGLE) hold?
Zaggle Prepaid Ocean Services Limited holds more cash than debt, ₹4.9B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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