Zeal Global Services Ltd
- Market Cap ₹ 135 Cr.
- Current Price ₹ 102
- High / Low ₹ 192 / 95.0
- Stock P/E 13.5
- Book Value ₹ 64.5
- Dividend Yield 0.00 %
- ROCE 23.8 %
- ROE 19.6 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 62.9% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.7%
- Debtor days have improved from 35.8 to 25.0 days.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Contingent liabilities of Rs.62.7 Cr.
- Company might be capitalizing the interest cost
* 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
Services Services Transport Services Logistics Solution Provider
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 76 | 61 | 121 | 112 | 193 | 368 | 369 | |
| 75 | 58 | 114 | 97 | 175 | 346 | 352 | |
| Operating Profit | 2 | 2 | 7 | 15 | 19 | 21 | 16 |
| OPM % | 2% | 4% | 6% | 13% | 10% | 6% | 4% |
| 0 | 0 | 0 | 0 | 2 | 4 | 4 | |
| Interest | 0 | 0 | 0 | 1 | 2 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 1 | 3 | 5 | 5 |
| Profit before tax | 2 | 2 | 7 | 13 | 16 | 19 | 14 |
| Tax % | 26% | 26% | 26% | 26% | 26% | 26% | |
| 1 | 2 | 7 | 10 | 12 | 15 | 10 | |
| EPS in Rs | 21.00 | 31.33 | 36.95 | 10.08 | 9.03 | 10.95 | 7.52 |
| Dividend Payout % | 52% | 11% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 37% |
| 3 Years: | 45% |
| TTM: | 37% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 63% |
| 3 Years: | 26% |
| TTM: | -40% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -45% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 30% |
| 3 Years: | 27% |
| Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.60 | 0.60 | 2 | 10 | 13 | 13 | 13 |
| Reserves | 4 | 5 | 11 | 13 | 53 | 68 | 72 |
| 3 | 2 | 2 | 17 | 10 | 14 | 25 | |
| 15 | 11 | 17 | 20 | 39 | 47 | 38 | |
| Total Liabilities | 22 | 19 | 32 | 60 | 115 | 143 | 149 |
| 0 | 1 | 0 | 9 | 18 | 19 | 26 | |
| CWIP | 0 | 0 | 0 | 0 | 9 | 7 | 0 |
| Investments | 0 | 0 | 2 | 2 | 3 | 3 | 3 |
| 22 | 18 | 29 | 48 | 85 | 113 | 120 | |
| Total Assets | 22 | 19 | 32 | 60 | 115 | 143 | 149 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 9 | -5 | 7 | -9 | 23 | 14 | |
| -1 | 0 | -5 | -9 | -43 | -17 | |
| 1 | -1 | 0 | 14 | 23 | 3 | |
| Net Cash Flow | 9 | -6 | 2 | -3 | 3 | 1 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 17 | 56 | 39 | 51 | 31 | 25 |
| Inventory Days | ||||||
| Days Payable | ||||||
| Cash Conversion Cycle | 17 | 56 | 39 | 51 | 31 | 25 |
| Working Capital Days | -64 | -14 | -9 | -35 | -24 | -15 |
| ROCE % | 34% | 65% | 53% | 30% | 24% |
Documents
Announcements
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Utilisation of Funds
15 November 2025 - Zeal Global submitted fund utilization certificate for half-year ended 30 Sep 2025 from subsidiary's statutory auditors.
-
Cessation
15 November 2025 - Nitish Neniwal resigns as Company Secretary cum Compliance Officer effective 14 Nov 2025.
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Updates
14 November 2025 - Company Secretary Nitish Neniwal resigned effective 14 Nov 2025; board accepted resignation.
-
Outcome of Board Meeting
14 November 2025 - Board approved H1 (ended 30 Sep 2025) unaudited results; revenue Rs1,73,33.10L; CS Nitish Neniwal ceased 14 Nov 2025.
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Outcome of Board Meeting
14 November 2025 - Unaudited H1 results: consolidated PAT INR 462.22 lacs; CS Nitish Neniwal ceased effective 14-Nov-2025.
Annual reports
Concalls
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Nov 2024TranscriptAI SummaryPPT
Business Overview:[1]
ZGSL is in the business of providing cargo General Sales and Service Agent (GSSA) services including sales, marketing, operations, and administration. Company has a network in 164 countries and a partnership with 14+ airlines. It has served 1100+ clients in 46+ segments.