MarketFriction

Zodiac Energy Ltd

NSE ZODIAC · BSE 543416 · Civil Construction
₹216.91 +0.27%
NSE close2026-10-01
52 week range201.35 - 415.00
Market cap₹315 Cr.
P/E12.4
IPO 2017 · +317% since Price band 10% Delivery 64.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales34.4146.92106.6379.3452.77104.33171.3498.0596.78137.56211.12141.81
Expenses31.3941.8797.8175.1547.8694.00153.7388.3686.50123.87189.31126.75
Operating Profit3.025.058.824.194.9110.3317.619.6910.2813.6921.8115.06
OPM %8.78%10.76%8.27%5.28%9.30%9.90%10.28%9.88%10.62%9.95%10.33%10.62%
Other Income0.040.180.300.250.180.461.010.340.300.541.341.48
Interest1.140.911.191.041.122.603.954.414.424.495.474.63
Depreciation0.190.200.200.220.200.541.721.982.622.722.632.31
Profit before tax1.734.127.733.183.777.6512.953.643.547.0215.059.60
Tax %14.45%28.64%26.39%26.73%33.95%25.23%27.10%26.10%24.29%27.64%29.37%26.88%
Net Profit1.482.955.692.332.495.719.442.692.685.0810.637.02
EPS in Rs1.012.023.891.591.653.786.251.781.773.367.034.64
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales917386368100143138220408544587
Expenses91635586393134130201371488526
Operating Profit1135579819375661
OPM %6%4.8%8%8%7%7%6%5%9%9%10%10%
Other Income000000111224
Interest00001123491919
Depreciation00000011131010
Profit before tax0035468415282935
Tax %31%31%27%31%30%26%28%27%26%27%28%
Net Profit0023345311202125
EPS in Rs0.611.391.372.122.053.023.732.187.5013.2313.9316.80
Dividend Payout %0%0%0%59%0%0%0%0%0%6%5%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth50%40%58%38%
Compounded Profit Growth68%35%87%25%
Stock Price CAGR%49%17%-47%
Return on Equity20%21%23%19%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital0.880.880.88777151515151515
Reserves0011013161318213381102
Borrowings33414613184641175217
Other Liabilities21334141628132767151
Total Liabilities768212843567995116339485
Fixed Assets110101233492128
CWIP000000000071
Investments0000000000018
Other Assets657202843537692111239338
Total Assets768212843567995116339485
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-0-8-6-0-42-2316-4948
Cash from Investing Activity0-11-1-2-4-3-5-105-59
Cash from Financing Activity011316325-1015323
Net Cash Flow02-2001-11011
Free Cash Flow-0-8-5-0-51-2314-1478
CFO/OP-6%-248%-98%26%-35%41%-280%103%-120%88%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days20613310810010213683781101305176
Inventory Days4969415444778288522856110
Days Payable964935101230455914295041
Cash Conversion Cycle15915311314413418312010614812957145
Working Capital Days8611118131109113888267723323
ROCE %6%12%16%26%23%19%20%20%11%22%20%16%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters72.86%72.86%72.87%72.73%70.01%70.01%70.01%69.89%69.89%69.91%69.97%69.97%
FIIs0.00%0.00%0.00%0.00%1.46%1.32%0.91%0.54%0.54%0.33%0.15%0.14%
DIIs0.00%0.00%0.00%0.00%0.59%0.56%0.56%0.34%0.34%0.34%0.20%0.20%
Public27.14%27.14%27.14%27.27%27.93%28.11%28.52%29.22%29.22%29.42%29.68%29.70%
No. of Shareholders25,36826,56930,05931,85937,42040,22941,64141,70839,59138,12036,86736,307

Fundamentals

Market Cap₹ 315 Cr.
Current Price₹ 209
Stock P/E12.4
Book Value₹ 77.3
ROCE15.6 %
ROE18.7 %
Dividend Yield0.36 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)38%
Compounded Profit Growth (TTM)25%
Standalone figures.
Valuation
Market capRs 328 Cr
Enterprise valueRs 512 Cr
P/E (TTM)12.91x
Price to book2.81x
Price to sales0.56x
EV / EBITDA7.95x
EV / EBIT9.45x
EV / sales0.87x
Price to cash flow6.89x
Earnings yield7.75%
Dividend yield0.34%
P/E, 3-year average32.19x
P/B, 3-year average6.93x
P/E, 5-year average32.24x
P/B, 5-year average5.68x
Profitability
Operating margin (excl. other income)10.22%
Operating margin (incl. other income)10.67%
EBITDA margin10.98%
Pre-tax margin6.00%
Net profit margin4.33%
Net margin, latest quarter4.95%
ROE19.75%
ROCE15.86%
ROA5.12%
ROE, 3-year average24.56%
ROCE, 3-year average19.50%
ROA, 3-year average8.11%
ROE, 5-year average20.21%
ROCE, 5-year average18.06%
ROA, 5-year average7.22%
ROIC (approx.)12.97%
Tax rate27.92%
Other income / net worth2.07%
Growth
Sales growth (latest year)33.29%
Profit growth (latest year)5.51%
Sales CAGR, 3 years58.05%
Sales CAGR, 5 years40.19%
Profit CAGR, 3 years87.63%
Profit CAGR, 5 years36.66%
Sales growth QoQ-32.83%
Profit growth QoQ-33.96%
Sales growth YoY (latest quarter)44.63%
Profit growth YoY (latest quarter)160.97%
Per share
EPS (TTM)Rs 16.80
EPS (latest year)Rs 13.93
EPS (latest quarter)Rs 4.64
EPS, 3-year averageRs 11.55
EPS, 5-year averageRs 8.11
Book value per shareRs 77.26
Sales per shareRs 388.31
Cash flow per shareRs 31.48
Free cash flow per shareRs 5.29
Dividend per share (latest year)Rs 0.75
Dividend per share, 3-year averageRs 0.75
Dividend per share, 5-year averageRs 0.75
Dividends
Dividend payout5.36%
Dividend payout, 3-year average5.51%
Dividend payout, 5-year average5.51%
Efficiency
Asset turnover1.12x
Fixed asset turnover4.24x
Inventory turnover3.59x
Inventory days102 days
Debtor days76 days
Debtors turnover4.81x
Creditor days41 days
Cash conversion cycle145 days
Working capital days23 days
Leverage
Total debtRs 217 Cr
Cash and bankRs 33 Cr
Net debtRs 184 Cr
Debt to equity1.86x
Net debt / EBITDA2.86x
Interest coverage2.85x
Owners' fund to total sources24.08%
Debt to assets44.80%
Cash flow
Cash from Operating Activity (latest year)Rs 48 Cr
Cash from Investing Activity (latest year)Rs -59 Cr
Cash from Financing Activity (latest year)Rs 23 Cr
Net Cash Flow (latest year)Rs 11 Cr
Free cash flow (latest year)Rs 8 Cr
FCFE (approx.: FCF + change in debt)Rs 51 Cr
Cash from ops / profit, 5 years-0.10x
Sales to cash flow11.42x
Statement figures
Net sales (TTM)Rs 587 Cr
Net sales (latest year)Rs 544 Cr
Sales (latest quarter)Rs 142 Cr
Operating profit excl. other income (latest year)Rs 56 Cr
Operating profit (latest quarter)Rs 15 Cr
Other income (TTM)Rs 4 Cr
EBITDA (TTM)Rs 64 Cr
PBDT (TTM)Rs 45 Cr
Profit before tax (TTM)Rs 35 Cr
Tax (latest year)Rs 8 Cr
Net profit (TTM)Rs 25 Cr
Net profit (latest year)Rs 21 Cr
Net profit (latest quarter)Rs 7 Cr
Depreciation (TTM)Rs 10 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 19 Cr
Cost of goods sold (latest year)Rs 461 Cr
Total expenditure (latest year)Rs 488 Cr
Total income (latest year)Rs 546 Cr
Share capitalRs 15 Cr
ReservesRs 102 Cr
Shareholders' fundsRs 117 Cr
Total assetsRs 485 Cr
Net blockRs 128 Cr
Capital work in progressRs 1 Cr
InvestmentsRs 18 Cr
ReceivablesRs 113 Cr
InventoryRs 128 Cr
Other liabilitiesRs 151 Cr
Shares outstanding (crore)1.51
Ownership
Promoter holding69.97% (+0.08 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 12.9 is at the 28th percentile of its own 8.9-year range (median 24.4, low 5.6, high 355.7).
P/B 2.81 is at the 40th percentile (median 4.52).
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.
PeriodZODIACNifty 50Difference
1 week-4.6%-2.8% -1.8 pts
1 month-9.6%-6.8% -2.8 pts
3 months-18.1%-7.6% -10.5 pts
6 months+1.6%+0.4% +1.2 pts
1 year-45.5%-9.9% -35.6 pts
2 years-63.9%-13.6% -50.3 pts
3 years+66.4%+14.2% +52.2 pts
5 years+648.0%+27.9% +620.1 pts

Red flags

F-score 6 of 8
explainWeak cash conversion Cash from operations was 28% of net profit over the last 3 years
explainReceivables outrunning sales Receivables grew 98% vs sales +33% in 2026
lookInventory outrunning sales Inventory grew 150% vs sales +33% in 2026
lookRegulator order or action Regulator order or action 2025-12-24: Zodiac Energy Limited has informed the Exchange about Action(s) taken or orders passed
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.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-15Parul Kunjbihari ShahPromoter groupbuy15,000SAST Inter-se transfer
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹142 Cr +44.6% vs Jun 2025. Net profit ₹7 Cr +161.0%.
Against our estimate for Jun 2026: sales +13.4%, profit +73.7% big beat. Our estimate for Sep 2026: sales Rs 130 Cr, profit Rs 6 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-16Dividend - Re 0.75 Per Share
2025-09-12Dividend - Rs 0.75 Per Share
2024-09-06Annual General Meeting
2023-09-18Annual General Meeting
2022-09-20Annual General Meeting
DateTypeWhat it says
2026-09-25Shareholder meetingVoting results.
2026-09-23Shareholder meetingProceedings of Annual General Meeting held on September 23, 2026
2026-09-21AcquisitionAcquisition of majority Equity stake of 63.5% in Zenwatt Clean Energy Private Limited.
2026-09-19Order winBagging/Receiving of orders/contracts
2026-09-18Disclosure under SEBI TakeovJugalkishor Harikrishnadas Shah has submitted to  the Exchange a copy of Disclosures under Regulation 29(2) of SEBI (SAST) Regulations, 2011.
2026-09-16Concall / analyst meetSchedule of meet
2026-09-16AcquisitionAcquisition of majority stake in eight LLPs
2026-09-15AcquisitionAcquisition-Incorporation of Wholly Owned Subsidiary
2026-09-03General UpdatesThe Company has been awarded at Global Solar Expo 2026 Ahmedabad
2026-09-03General UpdatesInvestor Presentation of the Company for Q1 FY-27
2026-09-02General UpdatesLetter to Shareholders under Regulation 36(1)(B) of the SEBI (LODR) Regulations, 2015 with web-link of Annual Report
2026-08-31Shareholder meetingShareholders meeting
2026-08-25AcquisitionAcquisition- Incorporation of Wholly Owned Subsidiary
2026-08-21Order winBagging/Receiving of orders/contracts
2026-08-13AcquisitionAcquisition
2026-08-13Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2026-08-13Record DateRecord date for the purpose of Dividend is 16-Sep-2026.
2026-08-13Board meeting outcomeZodiac Energy Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026 and Others
2026-08-01Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-07-30AcquisitionIncorporation of Wholly Owned Subsidiary
2026-07-21Shareholder meetingVoting results.
2026-07-15General UpdatesGeneral Updates
2026-07-06ESOPAllotment of 28943 Shares.
2026-07-06Board meeting outcomeOutcome of Board Meeting held on July 06, 2026.
2026-07-01AppointmentAppointment of Ms. Apexa Prajapati as SMP of the company w.e.f. July 01, 2026.
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.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Zodiac Energy Ltd?

Zodiac Energy Ltd (ZODIAC) has a market capitalisation of Rs 315 Cr. at the 2026-10-01 close.

What is the P/E ratio of Zodiac Energy Ltd?

Zodiac Energy Ltd trades at a P/E of 12.4 on trailing twelve-month profit, at the 2026-10-01 close.

What were Zodiac Energy Ltd's latest quarterly results?

In the Jun 2026 quarter, Zodiac Energy Ltd sales was Rs 142 Cr (+44.6% vs Jun 2025) and net profit was Rs 7 Cr.

What is the 52-week high and low of Zodiac Energy Ltd?

The 52-week high is Rs 415.00 and the 52-week low is Rs 201.35.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03