Zeal Aqua Ltd

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Zeal Aqua Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Zeal Aqua Ltd

₹ 10.4 -3.35%
13 Nov - close price
zealaqua.com BSE: 539963
About

Zeal Aqua Ltd is a Surat-based aquaculture and seafood company. It farms shrimp, supports satellite/contract farms, trades shrimp inputs, and processes and exports frozen seafood. Processing began in 2017. Products now
include Vannamei and SPF Black Tiger
shrimp, fish fillets and other value-added seafood.[1][2]

Key Points

Business Overview:[1][2][3][4]
ZAL does aquaculture farming and development of satellite farming, especially prawn farming and trading of Seed, Feed and Medicines required for Shrimp Farming, across Gujarat.
It deals in non-antibiotic seafood and provides shrimps. The company has 160 farms on 300 hectares of land and is the only shrimp exporter to have the Aquaculture Stewardship Council
certification for Black Tiger Shrimps

Website BSE
  • Market Cap ₹ 131 Cr.
  • Current Price ₹ 10.4
  • High / Low ₹ 17.8 / 9.10
  • Stock P/E 8.30
  • Book Value ₹ 8.69
  • Dividend Yield 0.00 %
  • ROCE 14.9 %
  • ROE 14.7 %
  • Face Value ₹ 1.00
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Pros

  • Stock is trading at 1.20 times its book value
  • Company has delivered good profit growth of 27.1% CAGR over last 5 years
  • Company's median sales growth is 19.8% of last 10 years
  • Company's working capital requirements have reduced from 44.0 days to 35.1 days

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 12.7% over last 3 years.
  • Earnings include an other income of Rs.21.2 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Seafood

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Quarterly Results

Figures in Rs. Crores

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
116.40 136.38 65.04 87.24 152.16 169.34 102.58 123.87 184.70 222.08 136.86 150.92 213.14
112.19 130.32 57.49 82.25 146.49 157.49 92.13 117.29 174.32 212.95 135.29 144.09 202.82
Operating Profit 4.21 6.06 7.55 4.99 5.67 11.85 10.45 6.58 10.38 9.13 1.57 6.83 10.32
OPM % 3.62% 4.44% 11.61% 5.72% 3.73% 7.00% 10.19% 5.31% 5.62% 4.11% 1.15% 4.53% 4.84%
1.66 1.92 2.04 1.80 2.30 3.76 1.77 1.75 1.44 7.83 7.44 3.21 2.73
Interest 3.53 3.22 3.61 4.03 4.92 7.80 5.34 4.68 6.02 5.53 5.11 5.44 6.47
Depreciation 1.28 1.27 1.18 1.87 0.69 1.45 1.46 1.27 1.30 1.28 1.32 1.54 1.74
Profit before tax 1.06 3.49 4.80 0.89 2.36 6.36 5.42 2.38 4.50 10.15 2.58 3.06 4.84
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 35.71% 33.33% 25.71% 21.32% 29.74% 15.91%
1.06 3.49 4.80 0.90 2.35 6.36 5.42 1.54 3.00 7.53 2.04 2.15 4.07
EPS in Rs 0.08 0.28 0.38 0.07 0.19 0.50 0.43 0.12 0.24 0.60 0.16 0.17 0.32
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
171 121 175 178 232 239 296 342 362 398 511 668 723
161 112 165 156 210 225 277 326 343 376 478 640 695
Operating Profit 10 9 9 21 22 14 19 16 19 21 33 28 28
OPM % 6% 7% 5% 12% 9% 6% 7% 4.5% 5% 5% 6% 4.2% 3.9%
0 0 0 2 6 11 5 8 8 8 10 18 21
Interest 4 5 4 9 10 12 13 10 14 14 22 21 23
Depreciation 2 3 2 8 8 7 7 6 5 5 6 5 6
Profit before tax 4 2 3 6 9 6 5 7 8 10 15 20 21
Tax % 25% 2% 35% 32% 20% 12% 16% 20% 14% 19% 32% 28%
3 2 2 4 8 5 4 6 7 8 10 14 16
EPS in Rs 0.33 0.21 0.14 0.33 0.59 0.42 0.34 0.46 0.56 0.66 0.80 1.12 1.25
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 19%
5 Years: 18%
3 Years: 23%
TTM: 25%
Compounded Profit Growth
10 Years: 22%
5 Years: 27%
3 Years: 26%
TTM: -3%
Stock Price CAGR
10 Years: 4%
5 Years: 6%
3 Years: 10%
1 Year: -6%
Return on Equity
10 Years: 11%
5 Years: 12%
3 Years: 13%
Last Year: 15%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 3 3 4 4 13 13 13 13 13 13 13 13 13
Reserves 16 18 33 37 36 41 45 51 58 66 77 91 97
40 38 49 85 83 88 119 127 131 157 172 186 254
4 5 12 17 46 69 88 34 68 59 70 51 269
Total Liabilities 63 65 98 143 178 211 266 225 270 295 331 341 632
14 13 13 53 46 40 40 37 34 36 38 38 39
CWIP 7 12 38 0 3 5 0 0 0 4 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
42 39 47 89 129 165 226 187 235 255 293 302 593
Total Assets 63 65 98 143 178 211 266 225 270 295 331 341 632

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
28 -1 7 -17 14 16 7 -5 24 25 25 35
-12 -8 -29 -11 -4 -2 -0 -2 -2 -10 -10 -3
-5 -2 23 29 -12 -13 -7 2 -22 -11 -11 -36
Net Cash Flow 11 -11 1 2 -2 1 0 -4 -0 4 4 -4
Free Cash Flow 16 -9 -22 -28 10 13 6 -7 22 14 14 31
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 281% -9% 83% -75% 77% 131% 37% -24% 134% 126% 81% 143%

Ratios

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 47 81 67 83 91 96 112 53 66 77 73 56
Inventory Days 2 8 5 94 852 178 152 180 158 136 104
Days Payable 5 16 23 32 615 129 42 75 61 47 24
Cash Conversion Cycle 43 73 48 145 329 96 161 164 172 174 162 136
Working Capital Days -24 -6 -2 -6 20 29 43 65 57 54 43 35
ROCE % 19% 11% 10% 14% 15% 13% 11% 10% 11% 11% 15% 15%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Number of Permanent Employees
count

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Number of Ponds (Owned)
count
Output from Owned Farms
MT
Output from Satellite/Contract Farms
MT
Total Area Under Cultivation (Owned Farms)
Hectares
Processing Capacity
MTPA

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Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
68.42% 68.42% 68.42% 68.42% 68.42% 68.42% 68.42% 68.42% 68.42% 68.42% 68.42% 68.42%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.05% 0.05%
31.59% 31.58% 31.57% 31.59% 31.58% 31.58% 31.59% 31.59% 31.57% 31.58% 31.53% 31.53%
No. of Shareholders 23,81629,01129,65834,99835,21834,94733,97033,36632,91332,65631,66031,017

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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