Price
Financials
Consolidated, Rs crore| Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 64 | 56 | 56 | 94 | 99 | 170 | 197 | 171 | 114 |
| Expenses | 61 | 50 | 48 | 87 | 88 | 158 | 189 | 164 | 103 |
| Operating Profit | 3 | 6 | 8 | 8 | 11 | 13 | 9 | 8 | 11 |
| OPM % | 5% | 11% | 15% | 8% | 11% | 7% | 4.5% | 4.4% | 10% |
| Other Income | 0 | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 2 |
| Interest | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 1 | 1 | 2 | 3 | 3 | 3 | 3 |
| Profit before tax | 3 | 6 | 7 | 6 | 10 | 12 | 8 | 6 | 9 |
| Tax % | 27% | 25% | 27% | 26% | 26% | 26% | 27% | 26% | 27% |
| Net Profit | 3 | 4 | 6 | 5 | 7 | 9 | 5 | 5 | 7 |
| EPS in Rs | 15.46 | 22.21 | 5.64 | 3.44 | 5.60 | 6.90 | 4.05 | 3.47 | 4.91 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 76 | 61 | 121 | 112 | 193 | 368 | 286 |
| Expenses | 75 | 58 | 114 | 97 | 175 | 346 | 267 |
| Operating Profit | 2 | 2 | 7 | 15 | 19 | 21 | 19 |
| OPM % | 2.5% | 4.0% | 6% | 13% | 10% | 6% | 6% |
| Other Income | 0 | 0 | 0 | 0 | 2 | 4 | 4 |
| Interest | 0 | 0 | 0 | 1 | 2 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 1 | 3 | 5 | 6 |
| Profit before tax | 2 | 2 | 7 | 13 | 16 | 19 | 15 |
| Tax % | 26% | 26% | 26% | 26% | 26% | 26% | 27% |
| Net Profit | 1 | 2 | 7 | 10 | 12 | 15 | 11 |
| EPS in Rs | 21.00 | 31.33 | 36.95 | 10.08 | 9.03 | 10.95 | 8.38 |
| Dividend Payout % | 52% | 11% | 0% | 0% | 0% | 0% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 36% | 37% | -22% | ||
| Compounded Profit Growth | % | 44% | 4% | -23% | ||
| Stock Price CAGR | % | % | -25% | -34% | ||
| Return on Equity | % | 24% | 18% | 13% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.60 | 0.60 | 2 | 10 | 13 | 13 | 13 |
| Reserves | 4 | 5 | 11 | 13 | 53 | 68 | 79 |
| Borrowings | 3 | 2 | 2 | 17 | 10 | 14 | 20 |
| Other Liabilities | 15 | 11 | 17 | 20 | 39 | 47 | 31 |
| Total Liabilities | 22 | 19 | 32 | 60 | 115 | 143 | 143 |
| Fixed Assets | 0 | 1 | 0 | 9 | 18 | 19 | 15 |
| CWIP | 0 | 0 | 0 | 0 | 9 | 7 | 8 |
| Investments | 0 | 0 | 2 | 2 | 3 | 3 | 3 |
| Other Assets | 22 | 18 | 29 | 48 | 85 | 113 | 117 |
| Total Assets | 22 | 19 | 32 | 60 | 115 | 143 | 143 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 9 | -5 | 7 | -9 | 23 | 14 | -12 |
| Cash from Investing Activity | -1 | 0 | -5 | -9 | -43 | -17 | 5 |
| Cash from Financing Activity | 1 | -1 | 0 | 14 | 23 | 3 | 4 |
| Net Cash Flow | 9 | -6 | 2 | -3 | 3 | 1 | -4 |
| Free Cash Flow | 9 | -6 | 7 | -19 | 3 | 10 | -15 |
| CFO/OP | 566% | -187% | 123% | -45% | 149% | 91% | -41% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 17 | 56 | 39 | 51 | 31 | 25 | 37 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 17 | 56 | 39 | 51 | 31 | 25 | 37 |
| Working Capital Days | -64 | -14 | -9 | -35 | -24 | -15 | 5 |
| ROCE % | 34% | 65% | 53% | 30% | 24% | 17% |
| Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Promoters | 73.40% | 73.40% | 73.40% | 73.40% | 73.40% | 73.40% |
| FIIs | 0.00% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.39% | 2.19% | 2.44% |
| Public | 26.60% | 26.54% | 26.60% | 26.21% | 24.41% | 24.16% |
| No. of Shareholders | 811 | 879 | 1,409 | 1,410 | 1,301 | 1,183 |
Fundamentals
Market Cap₹ 100 Cr.
Current Price₹ 75.4
Stock P/E9.01
Book Value₹ 69.4
ROCE16.7 %
ROE12.8 %
Dividend Yield1.99 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-22%
Compounded Profit Growth (TTM)-23%
Consolidated figures.
Valuation
Market capRs 91 Cr
Enterprise valueRs 101 Cr
P/E (TTM)9.26x
Price to book4.06x
Price to sales0.81x
EV / EBITDA6.57x
EV / EBIT6.98x
EV / sales0.90x
Earnings yield10.80%
Profitability
Operating margin (excl. other income)13.30%
Operating margin (incl. other income)13.73%
EBITDA margin13.73%
Pre-tax margin11.80%
Net profit margin8.78%
ROE55.92%
ROCE53.21%
ROA21.42%
ROE, 3-year average56.31%
ROCE, 3-year average51.13%
ROA, 3-year average19.66%
ROIC (approx.)33.01%
Tax rate26.13%
Other income / net worth2.18%
Growth
Sales growth (latest year)-7.33%
Profit growth (latest year)36.43%
Sales CAGR, 3 years13.63%
Profit CAGR, 3 years98.47%
Per share
EPS (TTM)Rs 7.40
EPS (latest year)Rs 100.82
EPS, 3-year averageRs 56.37
Book value per shareRs 16.88
Sales per shareRs 84.31
Cash flow per shareRs -6.78
Free cash flow per shareRs -11.27
Dividend per share, 3-year averageRs 3.50
Dividends
Dividend payout, 3-year average11.17%
Efficiency
Asset turnover1.87x
Fixed asset turnover12.17x
Debtor days51 days
Debtors turnover7.13x
Cash conversion cycle37 days
Working capital days5 days
Leverage
Total debtRs 17 Cr
Cash and bankRs 7 Cr
Net debtRs 10 Cr
Debt to equity0.77x
Net debt / EBITDA0.65x
Interest coverage11.51x
Owners' fund to total sources37.41%
Debt to assets28.87%
Cash flow
Cash from Operating Activity (latest year)Rs -9 Cr
Cash from Investing Activity (latest year)Rs -9 Cr
Cash from Financing Activity (latest year)Rs 14 Cr
Net Cash Flow (latest year)Rs -3 Cr
Free cash flow (latest year)Rs -15 Cr
FCFE (approx.: FCF + change in debt)Rs 0 Cr
Cash from ops / profit, 5 years0.42x
Statement figures
Net sales (TTM)Rs 112 Cr
Net sales (latest year)Rs 112 Cr
Operating profit excl. other income (latest year)Rs 15 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 15 Cr
PBDT (TTM)Rs 14 Cr
Profit before tax (TTM)Rs 13 Cr
Tax (latest year)Rs 3 Cr
Net profit (TTM)Rs 10 Cr
Net profit (latest year)Rs 10 Cr
Depreciation (TTM)Rs 1 Cr
Interest (TTM)Rs 1 Cr
Cost of goods sold (latest year)Rs 89 Cr
Total expenditure (latest year)Rs 97 Cr
Total income (latest year)Rs 113 Cr
Share capitalRs 10 Cr
ReservesRs 13 Cr
Shareholders' fundsRs 22 Cr
Total assetsRs 60 Cr
Net blockRs 9 Cr
InvestmentsRs 2 Cr
ReceivablesRs 16 Cr
Other liabilitiesRs 20 Cr
Shares outstanding (crore)1.33
Ownership
Promoter holding73.40% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 9.3 is at the 8th percentile of its own 3.2-year range
(median 106.2, low 8.4, high 237.7).
P/B 4.06 is at the 8th percentile (median 33.11).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | ZEAL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -9.8% | -2.8% | -7.0 pts |
| 1 month | +9.7% | -6.8% | +16.5 pts |
| 3 months | +1.5% | -7.6% | +9.1 pts |
| 6 months | -16.4% | +0.4% | -16.8 pts |
| 1 year | -41.9% | -9.9% | -32.0 pts |
| 2 years | -64.3% | -13.6% | -50.7 pts |
| 3 years | -62.5% | +14.2% | -76.7 pts |
Red flags
F-score 2 of 7| explain | Weak cash conversion Cash from operations was -39% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 31% of total assets in 2026 |
| explain | Receivables outrunning sales Receivables grew 22% vs sales -7% in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Mar 2026Sales ₹114 Cr +15.2% vs Mar 2024.
Net profit ₹7 Cr +0.0%.
Against our estimate for Mar 2026: sales -61.4%, profit -42.3% miss.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Container Corporation Of India Ltd | 33,778 | 27.2 | 12.6 % |
| Delhivery Ltd | 31,276 | 262 | 1.01 % |
| Shadowfax Technologies Ltd | 16,484 | 95.7 | 10.3 % |
| Blue Dart Express Ltd | 10,859 | 33.5 | 15.8 % |
| Transport Corporation of India Ltd | 6,674 | 14.6 | 19.4 % |
| TVS Supply Chain Solutions Ltd | 5,784 | 81.6 | 10.1 % |
| VRL Logistics Ltd | 4,946 | 18.5 | 18.3 % |
| Afcom Holdings Ltd | 4,248 | 29.0 | 28.0 % |
| Mahindra Logistics Ltd | 4,229 | 107 | 7.36 % |
| Gateway Distriparks Ltd | 2,577 | 10.5 | 10.8 % |
| TCI Express Ltd | 2,046 | 22.4 | 14.6 % |
| Skyways Air Services Ltd | 1,675 | 31.4 | 13.2 % |
| Allcargo Logistics Ltd | 1,580 | 34.4 | 4.83 % |
| Navkar Corporation Ltd | 1,302 | 32.6 | 3.06 % |
| Allcargo Global Ltd | 1,297 | -6.09 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Less than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded
Quick answers
What is the market cap of Zeal Global Services Ltd?
Zeal Global Services Ltd (ZEAL) has a market capitalisation of Rs 100 Cr. at the 2026-10-01 close.
What is the P/E ratio of Zeal Global Services Ltd?
Zeal Global Services Ltd trades at a P/E of 9.01 on trailing twelve-month profit, at the 2026-10-01 close.
What were Zeal Global Services Ltd's latest quarterly results?
In the Mar 2026 quarter, Zeal Global Services Ltd sales was Rs 114 Cr (+15.2% vs Mar 2024) and net profit was Rs 7 Cr.
What is the 52-week high and low of Zeal Global Services Ltd?
The 52-week high is Rs 121.40 and the 52-week low is Rs 55.90.