Zuari Industries Limited
NSE: ZUARIIND · Sugar · sector
₹232.40NSE close 2026-10-26
Key numbers
Market cap₹692 cr
Price₹232.40
52w high / low₹367 / ₹210
P/E6.4xSector median 12.9x
P/B0.2xSector median 0.9x
Book value₹1,215.9
Dividend yield0.63%Sector median 0.91%
ROE2.5%Sector median 6.3%
ROCE2.2%Sector median 6.8%
OPM5.0%Sector median 6.0%
Debt / equity0.72xSector median 0.72x
EV/EBITDA51.4xSector median 11.8x
Interest cover0.6x
Current ratio0.66x
Sales growth 3y+3.0%Sector median -1.4%
Profit growth 3y-29.4%Sector median -11.6%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 35 companies in Sugar (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹454 cr vs borrowings ₹2,598 cr (FY26): borrowings are higher by ₹2,144 cr.
- Operating profit covered interest 0.6x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 2 of the last 5 years (FY24, FY23).
- Net loss in 5 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 107% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹232.40 on 2026-10-26: -36.7% from the 52-week high, +10.7% 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 ₹403.90 · low ₹215.75
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 237 | 205 | 272 | 257 | 241 | 263 | 284 | 312 |
| EBITDA | -16 | -13 | 28 | 25 | 4 | -14 | 46 | 19 |
| OPM % | -6.7% | -6.5% | 10.1% | 9.8% | 1.6% | -5.3% | 16.3% | 6.1% |
| Other income | 40 | 45 | 17 | 10 | 45 | 39 | 16 | 16 |
| Net profit | -14 | -7 | -21 | 0 | 165 | -26 | -31 | 1 |
| EPS (₹) | -4.84 | -2.47 | -6.96 | 0.02 | 55.34 | -8.69 | -10.41 | 0.20 |
| Revenue YoY | +1.6% | +28.2% | +4.2% | +21.2% | ||||
| Profit YoY | – | – | – | +1,100.0% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 722 | 955 | 838 | 970 | 1,045 | 1,099 |
| EBITDA | 12 | 28 | 837 | 29 | 61 | 55 |
| Net profit | -36 | 306 | 714 | -93 | 108 | 109 |
| EPS (₹) | -11.95 | 102.84 | 239.72 | -31.30 | 36.25 | 36.44 |
| Revenue growth | +32.3% | -12.3% | +15.8% | +7.7% | +13.1% | |
| Profit growth | – | +133.1% | -113.1% | – | – | |
| Dividend / share (₹) | 3.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +3.0% | +4.6% | +13.1% |
| Net profit | -29.4% | – | – |
| EPS | -29.4% | – | – |
| Share price | – | -18.7% (2y) | -29.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 2,395 | 3,919 | 5,048 | 3,621 |
| Borrowings | – | 2,620 | 2,367 | 2,509 | 2,598 |
| Cash & equivalents | – | 639 | 685 | 694 | 454 |
| Total assets | – | 5,809 | 7,494 | 8,927 | 7,164 |
| Fixed assets | – | 506 | 484 | 470 | 460 |
| Capital work in progress | – | 1 | 6 | 7 | 6 |
| Investments | – | 1,635 | 3,104 | 4,671 | 3,092 |
| Receivables | – | 80 | 55 | 65 | 66 |
| Inventory | – | 1,110 | 720 | 730 | 772 |
| Payables | – | 250 | 233 | 179 | 181 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 62 | 16 | 71 | -1 | 144 |
| Cash from investing | 69 | 95 | 475 | 183 | 20 |
| Cash from financing | -87 | -89 | -583 | -163 | -175 |
| Capex | 21 | 17 | 14 | 15 | 26 |
| Free cash flow | 41 | -2 | 58 | -16 | 118 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 12.8% | 18.2% | -1.8% | 3.0% |
| ROCE % | – | 3.6% | 16.5% | 1.5% | 2.3% |
| Debtor days | – | 31 | 24 | 24 | 23 |
| Inventory days | – | 629 | 502 | 405 | 434 |
| Payable days | – | 142 | 163 | 99 | 102 |
| Cash conversion cycle (days) | – | 518 | 363 | 330 | 355 |
| Working capital days | – | 316 | -238 | -88 | -250 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 56.71% |
| FIIs | 1.24% |
| DIIs | 1.17% |
| of which Mutual funds | 1.11% |
| of which Insurance | 0.00% |
| Government | 0.04% |
| Public (non-institutions) | 40.85% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 56.71% | 56.71% | 56.71% | 56.71% | 56.71% | 56.71% | 56.71% | 56.71% |
| Promoter group | % |
|---|---|
| Globalware Trading And Holdings Limited | 25.16% |
| Adventz Finance Private Limited | 9.86% |
| Texmaco Infrastructure & Holdings Limited | 9.26% |
| Saroj Kumar Poddar (as a Trustee of Saroj & Jyoti Poddar Holdings Private Trust) | 4.03% |
| New Eros Tradecom Limited | 4.02% |
| Jyotsna Poddar | 1.25% |
| Saroj Kumar Poddar (in individual capacity) | 1.08% |
| Duke Commerce Limited | 1.01% |
| Jeewan Jyoti Medical Society | 0.47% |
| Adventz Securities Enterprises Limited | 0.33% |
| Akshay Poddar | 0.07% |
| Saroj & Company | 0.04% |
| Shradha Agarwala | 0.02% |
| Aashti Agarwala | 0.02% |
| Anisha Berlia | 0.02% |
| Public holders above 1% | % |
|---|---|
| Gaurav N Lodha | 2.48% |
| JM Financial Mutual Fund | 1.11% |
| Nareshmal Chandmal Lodha | 1.07% |
29,592 shareholders. Pledged: 0.00% of promoter shares.
Peers in Sugar
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BALRAMCHIN | ₹13,212 cr | 34.1x | 3.2x | 9.3% | 8.1% | 11.3% | +10.4% | 0.53% |
| TRIVENI | ₹4,979 cr | 17.7x | 1.5x | 8.7% | 8.3% | 7.0% | +6.5% | 1.75% |
| BANARISUG | ₹4,029 cr | 33.1x | 2.1x | 6.6% | 7.3% | 9.3% | -8.8% | 0.39% |
| RENUKA | ₹3,858 cr | – | – | – | -2.7% | 0.3% | +0.5% | – |
| DALMIASUG | ₹3,357 cr | 16.5x | 1.0x | 6.3% | 7.0% | 10.8% | +3.6% | 1.45% |
| BAJAJHIND | ₹2,606 cr | 12.9x | 0.7x | 2.9% | 0.8% | 4.8% | -4.9% | – |
| AVADHSUGAR | ₹1,627 cr | 24.7x | 1.4x | 5.9% | 6.8% | 8.2% | -1.3% | 1.23% |
| UTTAMSUGAR | ₹1,179 cr | 13.6x | 1.3x | 10.4% | 10.2% | 9.3% | +2.3% | 0.87% |
| DHAMPURSUG | ₹1,095 cr | 15.6x | 0.9x | 6.0% | 6.8% | 6.4% | -0.8% | 0.02% |
| ZUARIIND | ₹692 cr | 6.4x | 0.2x | 2.5% | 2.2% | 5.0% | +3.0% | 0.63% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| a) Sugar and allied products | ₹855 cr | 63.1% | ₹76 cr | 8.9% |
| c) Ethanol Plant | ₹234 cr | 17.3% | ₹11 cr | 4.8% |
| b) Power | ₹92 cr | 6.8% | ₹-12 cr | -12.6% |
| g) Engineering services | ₹84 cr | 6.2% | ₹4 cr | 4.3% |
| e) Management services | ₹37 cr | 2.7% | ₹-6 cr | -15.1% |
| f) Financial services | ₹28 cr | 2.1% | ₹10 cr | 36.7% |
| d) Real estate | ₹25 cr | 1.8% | ₹-26 cr | -102.0% |
| h) Furniture | ₹1 cr | 0.1% | ₹-7 cr | -785.4% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-11 | Dividend | Dividend - Re 1 Per Share |
| 2025-09-17 | Dividend | Dividend - Re 1 Per Share |
| 2024-09-20 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2023-09-21 | Dividend | Dividend - Re 1 Per Share |
| 2023-09-21 | Other | Annual General Meeting |
| 2022-09-20 | Dividend | Dividend - Re 1 Per Share |
| 2022-09-20 | Other | Annual General Meeting |
| 2021-11-24 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2021-09-08 | Other | Annual General Meeting |
| 2021-04-27 | Dividend | Interim Dividend - Re 1 Per Share |
| 2021-02-23 | Dividend | Interim Dividend - Re 1 Per Share |
| 2020-09-04 | Dividend | Annual General Meeting/Dividend - Re 1 Per Sh |
| 2019-07-18 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2018-07-19 | Dividend | Annual General Meeting/Dividend- Re 1 Per Share |
| 2017-07-13 | Dividend | Dividend - Re 1 Per Share |
| 2016-07-29 | Dividend | Dividend - Re 1/- Per Share |
| 2015-07-30 | Dividend | Annual General Meeting/ Dividend - Rs 1/- Per Share |
| 2014-06-27 | Dividend | Dividend Rs 1 Per Share |
| 2013-05-27 | Dividend | Dividend Rs 2/- Per Equity Share |
| 2012-05-25 | Dividend | Dividend Rs 2 Per 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 | Fast Moving Consumer Goods |
| Industry | Sugar |
| Sub-industry | Sugar |
| Symbol | ZUARIIND |
| BSE code | 500780 |
| ISIN | INE217A01012 |
| 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.