Ashish Kacholia portfolio stock Zaggle Prepaid drops 5% after Q3 results, down 51% from peak. More downside ahead?

Ashish Kacholia portfolio stocks: Zaggle Prepaid Ocean Services, a SaaS fintech company, saw its share price crash 5% in intraday trade on Friday, February 13, to reach the day’s low of ₹289.50 apiece. The fall came even after the company reported strong performance across metrics for the December-ending quarter.

Zaggle Prepaid Q3 results 2026

The company, on Thursday, reported a net profit of ₹36 crore, marking a 77.7% YoY growth compared to ₹20 crore in the year-ago quarter. Revenue from operations surged to ₹497.6 crore from ₹336 crore in Q3FY25, reflecting an improvement of 48%, driven by higher transaction volumes.

The company said its program fees surpassed ₹200 crore for the first time in its history.

During the quarter, operating expenses soared to ₹457 crore, as the cost of point redemption and gift cards, the company’s biggest expense head, jumped to ₹282.6 crore. In the same period last year, it had reported ₹185.8 crore under this head.

Its adjusted EBITDA came in at ₹51.3 crore, crossing the ₹50 crore mark for the first time, representing a 72.8% improvement compared to ₹29.4 crore in the year-ago quarter. Reported EBITDA margins expanded to 10.2% from 8.8% in Q3FY25, as per the company’s earnings report.

In 9MFY26, the company recorded revenues of ₹1,260 crore, which is slightly below its full-year performance in FY25. However, the company said it was able to surpass FY25 profitability levels owing to margin expansion at both EBITDA and PAT levels. It reported a net profit of ₹95 crore, a 71.3% jump from ₹55.5 crore in 9MFY25.

Is further downside ahead for Zaggle Prepaid stock?

Zaggle Prepaid share price has remained under pressure over the last two months, falling cumulatively by 28%. The decline has also left the stock trading 51.25% below its record high of ₹597 apiece, registered in December 2024.

Anshul Jain, Head of Research at Lakshmishree, said Zaggle Prepaid Ocean Services Limited has broken below its key support band of 298 to 314, signaling structural weakness and a loss of demand at a critical zone.

He further noted that the breakdown has been followed by the formation of a bearish flag on the daily chart, indicating continuation rather than reversal. Price is now compressing below former support, which has turned into resistance, reinforcing supply dominance.

According to Anshul, momentum remains tilted to the downside, with moving averages aligned bearishly and capping recovery attempts. A decisive breach and close below 290 would confirm flag resolution and trigger a fresh leg lower.

“On confirmation, the immediate downside objective lies near the 260 zone, where interim support may emerge. Until the stock reclaims the broken range with strong volume, risk–reward stays skewed toward further downside continuation,” Anshul Jain further stated.

Ashish Kacholia holds a 2.23% stake in Zaggle Prepaid

Ashish Kacholia, known as the "Big Whale" of Dalal Street, held a 2.23% stake in Zaggle Prepaid Ocean Services at the end of the December quarter. According to Trendlyne shareholding data, he has been holding a stake in the company since September 2023.

The majority of the stake is owned by promoters, accounting for 44.1%, followed by general shareholders with a 40.5% stake.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.