Zuari Agro Chemicals Ltd
NSE: ZUARI · Fertilizers · sector
₹190.73NSE close 2026-10-26
Key numbers
Market cap₹802 cr
Price₹190.73
52w high / low₹346 / ₹175
P/E0.8xSector median 7.9x
P/B0.4xSector median 0.9x
Book value₹496.7
Dividend yield1.02%Sector median 1.02%
ROE47.6%Sector median 11.1%
ROCE37.2%Sector median 9.9%
OPM40.5%Sector median 8.8%
Debt / equity0.31xSector median 0.32x
EV/EBITDA1.3xSector median 6.8x
Interest cover12.0x
Current ratio0.52x
Sales growth 3y-11.1%Sector median -0.8%
Profit growth 3y+24.5%Sector median +1.5%
PEG0.04x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 20 companies in Fertilizers (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹63 cr vs borrowings ₹642 cr (FY26): borrowings are higher by ₹578 cr.
- Borrowings fell in each of the last 3 years (₹2,108 cr → ₹642 cr).
- Operating profit covered interest 12.0x in the last 12 months.
- 27.64% of the promoters' shares are pledged (18.0% of all shares).
- Operating cash flow was below net profit in 2 of the last 5 years (FY26, FY23).
- Net loss in 1 of the last 8 quarters.
- Revenue was higher than a year earlier in 1 of the last 4 quarters.
- Other income was 2% of net profit in the last 12 months.
- Debtor days went from 47 (FY24) to 10 (FY26).
- No dividend in the last 5 financial years.
- Price ₹190.73 on 2026-10-26: -44.8% from the 52-week high, +8.9% 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 ₹378.65 · low ₹172.82
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,123 | 1,264 | 952 | 1,246 | 1,423 | 344 | 187 | 615 |
| EBITDA | 101 | 117 | 32 | 141 | 991 | 6 | -17 | 59 |
| OPM % | 9.0% | 9.2% | 3.4% | 11.3% | 69.7% | 1.9% | -9.2% | 9.6% |
| Other income | 17 | 6 | 22 | 6 | 5 | 1 | 8 | 1 |
| Net profit | 80 | 55 | 20 | 99 | 806 | 40 | -25 | 118 |
| EPS (₹) | 19.30 | 12.97 | 4.72 | 23.54 | 191.68 | 9.43 | -5.94 | 28.17 |
| Revenue YoY | +26.6% | -72.8% | -80.3% | -50.6% | ||||
| Profit YoY | +904.8% | -27.2% | -226.2% | +19.7% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 3,590 | 4,553 | 4,595 | 4,436 | 3,200 | 2,569 |
| EBITDA | 233 | 775 | 356 | 368 | 1,121 | 1,040 |
| Net profit | 130 | 477 | 100 | 165 | 920 | 939 |
| EPS (₹) | 31.02 | 113.33 | 23.73 | 39.17 | 218.70 | 223.34 |
| Revenue growth | +26.8% | +0.9% | -3.5% | -27.9% | -44.0% | |
| Profit growth | +265.4% | -79.1% | +65.1% | +458.3% | +270.3% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -11.1% | +5.9% | -44.0% |
| Net profit | +24.5% | – | +270.3% |
| EPS | +24.5% | – | – |
| Share price | – | -0.8% (2y) | -23.6% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,581 | 1,694 | 1,856 | 2,089 |
| Borrowings | – | 2,108 | 1,783 | 717 | 642 |
| Cash & equivalents | – | 427 | 389 | 212 | 63 |
| Total assets | – | 5,052 | 4,820 | 5,026 | 3,251 |
| Fixed assets | – | 1,828 | 1,848 | 753 | 134 |
| Capital work in progress | – | 19 | 14 | 4 | 0 |
| Investments | – | 60 | 65 | 71 | 829 |
| Receivables | – | 780 | 598 | 86 | 90 |
| Inventory | – | 399 | 316 | 172 | 268 |
| Payables | – | 483 | 338 | 159 | 233 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 571 | 95 | 473 | 511 | 203 |
| Cash from investing | -137 | 426 | 3 | -122 | -69 |
| Cash from financing | -296 | -697 | -527 | -494 | -335 |
| Capex | 228 | 317 | 144 | 105 | 160 |
| Free cash flow | 344 | -222 | 329 | 407 | 44 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 30.1% | 5.9% | 8.9% | 44.0% |
| ROCE % | – | 21.4% | 12.6% | 12.5% | 39.7% |
| Debtor days | – | 63 | 47 | 7 | 10 |
| Inventory days | – | 47 | 38 | 23 | 45 |
| Payable days | – | 57 | 41 | 21 | 39 |
| Cash conversion cycle (days) | – | 53 | 44 | 9 | 16 |
| Working capital days | – | -34 | -32 | -42 | -49 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 65.21% |
| FIIs | 1.91% |
| DIIs | 0.10% |
| of which Insurance | 0.08% |
| Government | 0.00% |
| Public (non-institutions) | 32.79% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 65.21% | 65.21% | 65.21% | 65.21% | 65.21% | 65.21% | 65.21% | 65.21% |
| Promoter group | % |
|---|---|
| Zuari Industries Limited (formerly Zuari Global Limited) | 20.00% |
| Globalware Trading And Holdings Limited | 17.81% |
| Zuari Management Services Limited | 12.08% |
| Texmaco Infrastructure & Holdings Limited | 7.13% |
| Adventz Finance Private Limited | 3.68% |
| New Eros Tradecom Limited | 2.85% |
| Jyotsna Poddar | 0.41% |
| Saroj Kumar Poddar (as a Trustee of Saroj and Jyoti Poddar Holdings Private Trust) | 0.36% |
| Jeewan Jyoti Medical Society | 0.33% |
| Duke Commerce Limited | 0.26% |
| Adventz Securities Enterprises Limited | 0.23% |
| Saroj Kumar Poddar | 0.07% |
| Akshay Poddar | 0.00% |
| Public holders above 1% | % |
|---|---|
| Sushil Kumar Jalani | 1.19% |
41,995 shareholders. Pledged: 27.64% of promoter shares.
Peers in Fertilizers
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| COROMANDEL | ₹51,053 cr | 27.8x | 4.1x | 15.5% | 21.0% | 9.6% | +2.0% | 1.04% |
| FACT | ₹43,655 cr | – | 32.3x | -7.8% | 2.6% | 0.3% | -2.6% | 0.06% |
| CHAMBLFERT | ₹14,447 cr | 7.5x | 1.4x | 20.1% | 22.0% | 13.8% | -9.2% | 2.77% |
| PARADEEP | ₹14,315 cr | 13.3x | 2.1x | 19.8% | 14.5% | 9.7% | +17.8% | 0.69% |
| GSFC | ₹5,394 cr | 7.8x | 0.4x | 5.7% | 7.2% | 6.7% | -1.3% | 3.69% |
| RCF | ₹5,215 cr | 11.7x | 1.0x | 9.1% | 10.3% | 5.6% | -4.8% | 2.46% |
| NFL | ₹2,803 cr | 7.7x | 1.0x | 13.1% | 9.6% | 4.5% | -10.1% | 2.73% |
| SPIC | ₹1,120 cr | 5.5x | 0.8x | 16.0% | 12.8% | 8.8% | +1.5% | 3.56% |
| MADRASFERT | ₹827 cr | 11.6x | 9.0x | 237.8% | 20.4% | 3.7% | -12.6% | – |
| ZUARI | ₹802 cr | 0.8x | 0.4x | 47.6% | 37.2% | 40.5% | -11.1% | 1.02% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2019-09-13 | Rights | Rights:14 Compulosry Convertible Debentures For Every 15 Equity Shares |
| 2018-07-19 | Other | Annual General Meeting |
| 2017-07-13 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2016-07-29 | Other | Annual General Meeting |
| 2015-07-30 | Dividend | Annual General Meeting/ Dividend - Rs 2/- Per Share |
| 2014-06-27 | Dividend | Annual General Meeting /Dividend - Rs.3/- Per Share |
| 2013-05-27 | Dividend | Annual General Meeting / Dividend Rs.3/- Per Equity Share |
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 | Commodities |
| Industry | Fertilizers |
| Sub-industry | Fertilizers |
| Symbol | ZUARI |
| BSE code | 534742 |
| ISIN | INE840M01016 |
| 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.