Zenith Exports Ltd
NSE: ZENITHEXPO · Leather And Leather Products · sector
₹178.89NSE close 2026-10-26
Key numbers
Market cap₹97 cr
Price₹178.89
52w high / low₹258 / ₹174
P/E331.3xSector median 18.6x
P/B1.1xSector median 1.3x
Book value₹155.8
Dividend yield–Sector median 0.57%
ROE0.3%Sector median 1.9%
ROCE1.3%Sector median 4.9%
OPM-4.2%Sector median 6.0%
Debt / equity0.03xSector median 0.25x
EV/EBITDA–Sector median 13.9x
Interest cover1.9x
Current ratio5.90x
Sales growth 3y+1.3%Sector median +2.3%
Profit growth 3y+13.2%Sector median -4.8%
PEG25.02x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 12 companies in Leather And Leather Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹16 cr vs borrowings ₹2 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 1.9x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY25, FY24, FY22).
- Net loss in 3 of the last 8 quarters.
- Revenue was higher than a year earlier in 1 of the last 4 quarters.
- Other income was 1,479% of net profit in the last 12 months.
- Debtor days went from 64 (FY24) to 86 (FY26).
- No dividend in the last 5 financial years.
- Price ₹178.89 on 2026-10-26: -30.6% from the 52-week high, +2.8% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹345.80 · low ₹178.89
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 16 | 19 | 21 | 18 | 20 | 14 | 13 | 13 |
| EBITDA | -3 | 0 | 3 | 1 | 0 | -0 | -1 | -1 |
| OPM % | -21.0% | 1.8% | 15.5% | 7.2% | 1.0% | -1.6% | -8.7% | -9.9% |
| Other income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Net profit | -2 | 1 | 3 | 1 | 1 | 0 | -0 | -1 |
| EPS (₹) | -7.78 | 2.48 | 5.55 | 2.59 | 1.56 | 0.31 | -0.22 | -1.11 |
| Revenue YoY | +21.2% | -23.7% | -37.3% | -24.6% | ||||
| Profit YoY | – | -74.6% | -104.0% | -142.9% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 91 | 62 | 82 | 72 | 65 | 60 |
| EBITDA | 0 | -1 | -1 | -0 | 0 | -2 |
| Net profit | 1 | 2 | 0 | 2 | 2 | 0 |
| EPS (₹) | 1.87 | 2.92 | 1.12 | 3.17 | 4.24 | 0.54 |
| Revenue growth | -31.2% | +31.2% | -11.8% | -10.3% | -18.0% | |
| Profit growth | +56.4% | -81.0% | +470.0% | +33.9% | -90.2% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +1.3% | +5.0% | -18.0% |
| Net profit | +13.2% | – | -90.2% |
| EPS | +13.2% | – | – |
| Share price | – | -25.5% (2y) | -19.4% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 80 | 80 | 82 | 84 |
| Borrowings | – | 9 | 6 | 8 | 2 |
| Cash & equivalents | – | 29 | 25 | 29 | 16 |
| Total assets | – | 100 | 96 | 101 | 98 |
| Fixed assets | – | 10 | 9 | 11 | 9 |
| Capital work in progress | – | 0 | 0 | 0 | 0 |
| Investments | – | 1 | 0 | 0 | 12 |
| Receivables | – | 9 | 14 | 18 | 15 |
| Inventory | – | 28 | 28 | 24 | 26 |
| Payables | – | 6 | 6 | 6 | 5 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -15 | 19 | -7 | -3 | 5 |
| Cash from investing | 11 | -16 | 17 | -4 | 0 |
| Cash from financing | 5 | -5 | -5 | 1 | -6 |
| Capex | 0 | 0 | 1 | 3 | 1 |
| Free cash flow | -15 | 19 | -7 | -6 | 4 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 2.0% | 0.4% | 2.1% | 2.7% |
| ROCE % | – | 3.0% | 1.8% | 3.6% | 4.6% |
| Debtor days | – | 54 | 64 | 89 | 86 |
| Inventory days | – | 287 | 207 | 199 | 305 |
| Payable days | – | 62 | 42 | 47 | 61 |
| Cash conversion cycle (days) | – | 279 | 229 | 241 | 330 |
| Working capital days | – | 312 | 274 | 316 | 303 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 45.54% |
| Public (non-institutions) | 54.46% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 45.54% | 45.54% | 45.54% | 45.54% | 45.54% | 45.54% | 45.54% | 45.54% |
| Promoter group | % |
|---|---|
| Surendra Kumar Loyalka HUF | 10.40% |
| Purotech Sales PVT Limited | 6.60% |
| Urmila Loyalka | 6.10% |
| A.c.roy and Company Private Limited | 5.64% |
| Varun Loyalka | 4.98% |
| Ruchi Ajitsaria | 4.91% |
| Surendra Kumar Loyalka | 3.36% |
| P.p.developers Private Limited | 3.08% |
| RAJ Kumar Loyalka | 0.37% |
| RAJ Kumar Loyalka HUF | 0.07% |
| Bilas RAI Loyalka | 0.02% |
| Bilas RAI Loyalka HUF | 0.00% |
| Public holders above 1% | % |
|---|---|
| Omkara Vincom Private Limited | 11.74% |
| Bhutnath Vanijya Vyapaar PVT. Ltd. | 10.80% |
| Zenith Credit Private Limited | 6.42% |
| Harsh Ajitsaria | 4.91% |
| BKL Securities Limited | 3.53% |
| Bijay Kumar Loyalka | 2.93% |
| R K Finance Ltd | 2.76% |
| Maxxon Impex and Credit Private Limited | 1.55% |
| Yash Ajitsaria | 1.30% |
2,382 shareholders. Pledged: 0.00% of promoter shares.
Peers in Leather And Leather Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| MAYURUNIQ | ₹3,101 cr | 15.0x | 2.7x | 19.8% | 24.5% | 24.6% | +7.6% | 0.70% |
| BIL | ₹1,369 cr | 52.9x | 2.8x | 5.5% | 10.6% | 8.9% | +19.4% | – |
| KOTIC | ₹1,236 cr | 14.4x | 5.3x | -41.8% | -8.3% | -7.1% | +165.0% | – |
| MIRZAINT | ₹359 cr | – | 0.6x | -4.0% | -3.4% | 1.5% | -6.9% | 0.02% |
| SUPERHOUSE | ₹156 cr | 19.5x | 0.3x | 1.7% | 4.8% | 6.6% | -4.0% | 0.57% |
| ARITAS | ₹99 cr | 4.2x | 1.8x | 8.7% | 9.7% | 9.0% | – | – |
| ZENITHEXPO | ₹97 cr | 331.3x | 1.1x | 0.3% | 1.3% | -4.2% | +1.3% | – |
| ANKIN | ₹90 cr | 130.2x | 3.4x | -1.9% | 0.4% | 6.0% | – | – |
| SUPTANERY | ₹79 cr | 11.0x | 0.7x | 6.4% | 7.8% | 8.5% | +3.2% | – |
| AKI | ₹56 cr | 18.6x | 0.6x | 3.6% | 4.9% | -2.3% | – | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Indutrial Leather Hand Gloves/ Made-ups | ₹43 cr | 65.8% | ₹-0 cr | -0.9% |
| EOU-Silk Fabrics | ₹13 cr | 19.7% | ₹1 cr | 9.7% |
| Sik Fabrics/ Made-ups | ₹9 cr | 14.5% | ₹3 cr | 35.8% |
| Yarn | ₹0 cr | – | ₹0 cr | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2024-09-17 | Other | Annual General Meeting |
| 2023-09-20 | Other | Annual General Meeting |
| 2023-02-01 | Other | Extra Ordinary General Meeting |
| 2022-09-23 | Other | Annual General Meeting |
| 2021-09-21 | Other | Annual General Meeting |
| 2020-09-21 | Other | Annual General Meeting |
| 2019-09-16 | Other | Annual General Meeting |
| 2018-09-17 | Other | Annual General Meeting |
| 2017-09-07 | Other | Annual General Meeting |
| 2016-09-19 | Other | Annual General Meeting |
| 2015-09-16 | Other | Annual General Meeting |
| 2014-09-18 | Other | Annual General Meeting |
| 2013-09-19 | Other | Annual General Meeting |
| 2012-09-20 | Other | Annual General Meeting |
| 2011-09-20 | Other | Annual General Meeting |
| 2010-09-20 | Other | Annual General Meeting |
| 2009-09-17 | Other | Annual General Meeting |
| 2008-09-17 | Other | Annual General Meeting |
| 2007-09-20 | Other | Agm |
| 2006-09-21 | Other | Agm |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Consumer Discretionary |
| Industry | Leather And Leather Products |
| Sub-industry | Leather And Leather Products |
| Symbol | ZENITHEXPO |
| BSE code | 512553 |
| ISIN | INE058B01018 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.