Zuari Industries Limited ZUARIIND NSEINFRA

Industrials · Conglomerates · India

https://www.adventz.com

Zuari Industries Limited engages in agriculture, heavy engineering, infrastructure, lifestyle, and services businesses in India and internationally. It operates through the Engineering Services, Furniture, Real Estate, Sugar, Power, Financial Services, Ethanol, and Management Services segments. The Engineering Services segment offers technology, basic engineering, detailed engineering, project management, procurement, and construction services in the engineering and contracting sector. Its Furniture segment manufactures, sells, and trades furniture products. The Real Estate segment develops real estates. Its Financial services segment provides capital market related services. The Sugar segment engages in the extraction of sugar from sugar cane. Its Power segment is involved in the co-generation of power using by-product of the sugar extraction, such as bagasse. The Ethanol segment manufactures ethanol using molasses. Its Management Services segment offers management consultancy, manpower outsourcing, and related services. The company also provides HR solutions, consumer food trading, and insurance; depository participant services; and mutual fund products. The company was formerly known as Zuari Global Limited and changed its name to Zuari Industries Limited in June 2022. Zuari Industries Limited was incorporated in 1967 and is based in Gurugram, India.

Market & Price

Market Cap

₹759.12 Cr

Current Price

₹254.90

High / Low (52W)

₹403.90 / ₹213.30

Beta

0.24

Valuation

Stock P/E

7.03

Industry PE

27.78

Forward P/E

PEG Ratio

Book Value

₹1,569.54

Price to Book

0.16

P/S

0.73

EV/EBITDA

40.83

Dividend Yield

0.39%

Profitability & Returns

ROCE

7.21%

ROE

2.45%

ROA

0.32%

Profit Margin

10.33%

Op Margin

12.23%

EPS (Latest Qtr)

₹-10.41

EPS (TTM)

₹36.25

Balance Sheet & Liquidity

Debt/Equity

0.72

Quick Ratio

0.25

Current Ratio

0.66

Debt

₹2,598.27 Cr

Total Assets

₹7,163.51 Cr

Current Assets

₹1,387.37 Cr

Working Capital

₹-715.37 Cr

Ownership

Promoter Holding

60.66%

Chg in Prom Hold

FII / Inst Holding

1.26%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹2,885.72 Cr

Total Revenue (TTM)

₹1,044.82 Cr

EBITDA

₹70.68 Cr

Free Cash Flow

₹236.82 Cr

Operating Cash Flow

₹143.76 Cr

Shares Outstanding

₹2.98 Cr

Gross Margin

30.44%

Payout Ratio

2.76%

Growth (CAGR)

Revenue 5Y

3.07%

Profit 5Y

-29.69%

Revenue (YoY)

3.10%

Earnings (YoY)

PROS

Generates positive free cash flow.

CONS

Earnings shrank at -29.7% CAGR over 5 years.
Trading 36.9% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ZUARIIND Zuari Industries Limited NSEINFRA	254.90	7.03	₹759.12 Cr	0.39%	7.21%	2.45%	3.07%	-29.69%
2	LT Larsen & Toubro Limited NIFTY50NSEAIINFRA	4,076.50	34.84	₹5.61 L Cr	0.93%	14.55%	16.95%	16.09%	15.38%
3	ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA	1,804.60	30.96	₹4.16 L Cr	0.42%	11.02%	15.59%	22.93%	34.11%
4	HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU	4,303.80	31.55	₹2.88 L Cr	1.16%	13.80%	23.98%	7.87%	16.08%
5	POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA	38,445.00	172.41	₹1.71 L Cr	0.02%	24.92%	21.04%	22.24%	119.12%
6	INDIGO InterGlobe Aviation Limited NSEINFRA	4,405.00	-	₹1.70 L Cr	0.24%	15.53%	-	44.12%	72.60%
7	CUMMINSIND Cummins India Limited NSEINFRA	5,881.00	68.97	₹1.63 L Cr	1.12%	34.95%	29.45%	16.07%	24.35%
8	CGPOWER CG Power and Industrial Solutions Limited NSEINFRA	917.45	118.99	₹1.44 L Cr	0.14%	19.35%	19.56%	21.67%	7.81%
9	POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA	9,477.50	53.48	₹1.43 L Cr	0.37%	30.44%	24.58%	26.57%	28.11%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	272.26 Cr	257.46 Cr	241.17 Cr	262.63 Cr	283.56 Cr
Cost of Revenue	-	-	155.14 Cr	167.85 Cr	154.54 Cr	181.53 Cr	145.27 Cr
Gross Profit	-	-	117.13 Cr	89.61 Cr	86.63 Cr	81.10 Cr	138.29 Cr
Operating Expenses	-	-	97.36 Cr	71.81 Cr	83.15 Cr	96.52 Cr	103.61 Cr
Operating Income	-	-	19.77 Cr	17.80 Cr	3.48 Cr	-15.42 Cr	34.68 Cr
EBITDA	-	-	52.17 Cr	70.04 Cr	235.85 Cr	39.14 Cr	50.00 Cr
Interest Expense	-	-	59.02 Cr	63.00 Cr	61.47 Cr	56.19 Cr	61.99 Cr
Pretax Income	-	-	-14.67 Cr	-40.25 L	167.04 Cr	-24.75 Cr	-19.64 Cr
Tax Provision	-	-	6.09 Cr	7.43 L	2.75 Cr	1.67 Cr	11.97 Cr
Net Income	-	-	-20.71 Cr	5.20 L	164.80 Cr	-25.88 Cr	-31.01 Cr
Diluted EPS	-4.84	-	-6.96	0.02	55.34	-8.69	-10.41

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	954.18 Cr	836.98 Cr	970.33 Cr	1,044.82 Cr
Cost of Revenue	-	660.37 Cr	540.36 Cr	658.55 Cr	649.19 Cr
Gross Profit	-	293.81 Cr	296.62 Cr	311.78 Cr	395.63 Cr
Operating Expenses	-	243.80 Cr	202.24 Cr	291.55 Cr	355.09 Cr
Operating Income	-	50.01 Cr	94.38 Cr	20.23 Cr	40.54 Cr
EBITDA	-	627.85 Cr	1,095.38 Cr	203.37 Cr	395.04 Cr
Interest Expense	-	286.50 Cr	284.02 Cr	262.04 Cr	242.65 Cr
Pretax Income	-	313.75 Cr	784.00 Cr	-87.57 Cr	122.25 Cr
Tax Provision	-	4.28 Cr	71.25 Cr	6.80 Cr	16.46 Cr
Net Income	-	310.63 Cr	713.91 Cr	-93.22 Cr	107.96 Cr
Diluted EPS	-	104.30	239.72	-31.30	36.25

Compounded Sales Growth

5 Years:	3.07%
1 Year:	3.10%

Compounded Profit Growth

5 Years:	-29.69%
1 Year:	-

Stock Price Performance

1 Year:	-10.26%
6 Months:	-20.07%
3 Months:	+1.29%
1 Month:	-3.30%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	5,809.04 Cr	7,494.34 Cr	8,926.89 Cr	7,163.51 Cr
Current Assets	-	2,427.33 Cr	1,604.10 Cr	1,592.75 Cr	1,387.37 Cr
Cash & Equivalents	-	91.35 Cr	55.52 Cr	73.73 Cr	61.87 Cr
Inventory	-	1,110.47 Cr	719.54 Cr	730.18 Cr	772.05 Cr
Receivables	-	80.00 Cr	54.91 Cr	64.71 Cr	66.33 Cr
Total Liabilities	-	3,421.08 Cr	3,589.79 Cr	3,894.77 Cr	3,559.99 Cr
Current Liabilities	-	1,600.98 Cr	2,150.67 Cr	1,826.65 Cr	2,102.74 Cr
Long Term Debt	-	1,773.49 Cr	1,268.83 Cr	1,582.97 Cr	1,183.85 Cr
Total Debt	-	2,631.60 Cr	2,377.42 Cr	2,509.08 Cr	2,598.27 Cr
Total Equity	-	2,401.14 Cr	3,918.89 Cr	5,047.62 Cr	3,621.20 Cr
Shares Outstanding	-	2.98 Cr	2.98 Cr	2.98 Cr	2.98 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	269.13 Cr	71.48 Cr	-1.29 Cr	143.76 Cr
Investing Cash Flow	-	-158.60 Cr	475.25 Cr	182.77 Cr	19.59 Cr
Financing Cash Flow	-	-88.65 Cr	-582.56 Cr	-163.27 Cr	-175.21 Cr
Capital Expenditure	-	-17.49 Cr	-13.58 Cr	-14.73 Cr	-25.74 Cr
Free Cash Flow	-	251.63 Cr	57.89 Cr	-16.02 Cr	118.02 Cr
Net Change in Cash	-	21.88 Cr	-35.83 Cr	18.21 Cr	-11.87 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	30.8%	35.4%	32.1%	37.9%
Operating Margin %	-	5.2%	11.3%	2.1%	3.9%
Net Margin %	-	32.6%	85.3%	-9.6%	10.3%
ROE %	-	12.9%	18.2%	-1.8%	3.0%
ROCE %	-	1.2%	1.8%	0.3%	0.8%

Shareholding Pattern

Insiders

60.66%

Institutions

1.26%

Public Float

3.20%

Analyst View

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ZUARIIND · Industrials