Zenith Drugs Ltd
Incorporated in 2000, Zenith Drugs Ltd is in the business of manufacturing
and trading of medicines[1]
- Market Cap ₹ 90.9 Cr.
- Current Price ₹ 53.0
- High / Low ₹ 107 / 47.2
- Stock P/E 21.4
- Book Value ₹ 41.8
- Dividend Yield 0.00 %
- ROCE 12.9 %
- ROE 11.1 %
- Face Value ₹ 10.0
Pros
Cons
- The company has delivered a poor sales growth of 11.1% over past five years.
- Company has high debtors of 167 days.
* 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
Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 78 | 72 | 92 | 115 | 131 | 132 | 144 | |
| 71 | 64 | 85 | 105 | 114 | 119 | 131 | |
| Operating Profit | 7 | 7 | 7 | 9 | 17 | 14 | 13 |
| OPM % | 9% | 10% | 8% | 8% | 13% | 10% | 9% |
| 0 | 0 | 1 | 1 | 1 | 2 | 3 | |
| Interest | 1 | 1 | 2 | 2 | 3 | 4 | 5 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 3 | 5 |
| Profit before tax | 5 | 5 | 4 | 7 | 13 | 9 | 6 |
| Tax % | 30% | 33% | 27% | 27% | 28% | 23% | |
| 3 | 3 | 3 | 5 | 10 | 7 | 4 | |
| EPS in Rs | 5.56 | 4.18 | 2.20 | ||||
| Dividend Payout % | 0% | 0% | 0% | 0% | 9% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 13% |
| TTM: | 11% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 32% |
| TTM: | -56% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -40% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 21% |
| 3 Years: | 19% |
| Last Year: | 11% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.40 | 0.40 | 0.40 | 0.40 | 17 | 17 | 17 |
| Reserves | 6 | 9 | 12 | 17 | 45 | 52 | 55 |
| 12 | 15 | 17 | 25 | 24 | 49 | 52 | |
| 25 | 21 | 37 | 54 | 48 | 44 | 42 | |
| Total Liabilities | 44 | 47 | 66 | 97 | 134 | 161 | 165 |
| 6 | 9 | 10 | 11 | 11 | 40 | 42 | |
| CWIP | 3 | 0 | 0 | 0 | 4 | 3 | 4 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 35 | 37 | 56 | 86 | 119 | 118 | 119 | |
| Total Assets | 44 | 47 | 66 | 97 | 134 | 161 | 165 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| 3 | -1 | 5 | -4 | -16 | -5 | |
| -5 | -2 | -3 | -2 | -5 | -31 | |
| 1 | 3 | -1 | 6 | 30 | 28 | |
| Net Cash Flow | -0 | -0 | 1 | -0 | 9 | -8 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 119 | 119 | 128 | 157 | 188 | 167 |
| Inventory Days | 29 | 52 | 67 | 249 | 277 | |
| Days Payable | 155 | 155 | 190 | 412 | 281 | |
| Cash Conversion Cycle | -7 | 17 | 5 | 157 | 25 | 163 |
| Working Capital Days | 14 | 24 | 21 | 39 | 111 | 98 |
| ROCE % | 28% | 24% | 25% | 28% | 13% |
Documents
Announcements
-
General Updates
13 December 2025 - Won MPPHSCL tender to supply 6,72,542 Vitamin A syrup bottles; contract ₹4,67,61,845.
-
General Updates
19 November 2025 - L1 award by RMSCL: Betamethasone 44,78,711 units Rs2,11,10,663; Fusidic Acid 83,31,006 units Rs13,06,88,491.
-
Outcome of Board Meeting
14 November 2025 - Unaudited H1 results for Sep 30, 2025 approved; Rajesh Agrawal appointed CFO effective Nov 15, 2025.
-
Outcome of Board Meeting
14 November 2025 - Approved unaudited H1 results (Sept 30, 2025); appointed Rajesh Agrawal as CFO w.e.f. Nov 15, 2025.
-
General Updates
11 November 2025 - MMGPA awarded paracetamol syrup 60ml tender: 21,45,319 bottles, total value ₹1.65 Crore (supply per tender terms).
Business Overview:[1][2]
ZDL is a manufacturer of a range of healthcare drugs and allied products
which includes pharmaceutical formulations. It also caters to a diverse range of customers and generates revenue through various avenues, such as marketing of branded generic drugs, third-party job work manufacturing, government and institutional business, and exports through merchant dealers.