Zodiac Energy Ltd

₹ 201 -2.11%

16 Oct - close price

zodiacenergy.com BSE: 543416 NSE: ZODIAC

About

Incorporated in 1992, Zodiac Energy Ltd is in the business of installing Solar Power Generation Plant^[1]

Key Points

Business Overview:^[1]^[2]
ZEL is an Energy Solution Provider based in Ahmedabad. Company uses solar energy to provide turnkey solutions from concept to commissioning for power companies. It does Design, supply, installation, Testing and Commissioning (EPC), and Operation and Maintenance (O&M) in:
a) Residential rooftop
b) Commercial & Industrial rooftop
c) Ground-mounted captive projects
The company has served 10,000+ customers and installed more than 100,000 KW Rooftop solar power plants up to FY22

Website BSE NSE

Market Cap ₹ 304 Cr.
Current Price ₹ 201
High / Low ₹ 415 / 198
Stock P/E 12.0
Book Value ₹ 77.3
Dividend Yield 0.37 %
ROCE 15.0 %
ROE 18.7 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter

Cons

Stock is trading at 2.60 times its book value

* 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

Industrials Construction Construction Civil Construction

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	79.34	52.77	104.33	171.34	98.05	96.78	137.56	211.12	141.81
	75.15	47.86	94.00	153.73	88.33	86.48	123.86	189.08	126.00
Operating Profit	4.19	4.91	10.33	17.61	9.72	10.30	13.70	22.04	15.81
OPM %	5.28%	9.30%	9.90%	10.28%	9.91%	10.64%	9.96%	10.44%	11.15%
	0.25	0.18	0.46	1.01	0.34	0.31	0.44	1.38	1.49
Interest	1.04	1.12	2.60	3.95	4.41	4.48	4.53	5.88	5.18
Depreciation	0.22	0.20	0.54	1.72	1.98	2.62	2.72	2.63	2.31
Profit before tax	3.18	3.77	7.65	12.95	3.67	3.51	6.89	14.91	9.81
Tax %	26.73%	33.95%	25.23%	27.10%	28.61%	23.93%	26.27%	28.77%	28.64%
	2.33	2.49	5.71	9.44	2.62	2.66	5.08	10.62	7.00
EPS in Rs	1.59	1.65	3.78	6.25	1.78	1.77	3.36	7.03	4.64
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025	Mar 2026	TTM
	408	544	587
	371	488	525
Operating Profit	37	56	62
OPM %	9%	10%	11%
	2	2	4
Interest	9	19	20
Depreciation	3	10	10
Profit before tax	28	29	35
Tax %	27%	28%
	20	21	25
EPS in Rs	13.23	13.93	16.80
Dividend Payout %	6%	5%

Compounded Sales Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	38%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	25%

Stock Price CAGR
10 Years:	%
5 Years:	48%
3 Years:	15%
1 Year:	-46%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025	Mar 2026
Equity Capital	15	15
Reserves	81	102
	175	243
	67	123
Total Liabilities	339	482
	92	131
CWIP	7	2
Investments	0	8
	239	341
Total Assets	339	482

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2025	Mar 2026
	-49	16
	-105	-54
	153	50
Net Cash Flow	0	12
Free Cash Flow	-147	-27
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	-120%	32%

Ratios

Consolidated / View Standalone

	Mar 2025	Mar 2026
Debtor Days	51	76
Inventory Days	56	110
Days Payable	50	41
Cash Conversion Cycle	57	145
Working Capital Days	33	43
ROCE %		15%

Insights

In beta

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Total Workforce
count ・Standalone data

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Annual Solar Installation
MW ・Standalone data

Ground-Mounted Solar - Number of Clients
count ・Standalone data

Rooftop Solar - Number of Clients
count ・Standalone data

C&I Projects Executed
count ・Standalone data

IPP Installed Capacity
MW AC ・Standalone data

Order Book
INR crores ・Standalone data

Total Number of Clients
count ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.86%	72.86%	72.87%	72.73%	70.01%	70.01%	70.01%	69.89%	69.89%	69.91%	69.97%	69.97%
	0.00%	0.00%	0.00%	0.00%	1.46%	1.32%	0.91%	0.54%	0.54%	0.33%	0.15%	0.14%
	0.00%	0.00%	0.00%	0.00%	0.59%	0.56%	0.56%	0.34%	0.34%	0.34%	0.20%	0.20%
	27.14%	27.14%	27.14%	27.27%	27.93%	28.11%	28.52%	29.22%	29.22%	29.42%	29.68%	29.70%
No. of Shareholders	25,368	26,569	30,059	31,859	37,420	40,229	41,641	41,708	39,591	38,120	36,867	36,307

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	72.44%	72.44%	72.44%	72.44%	72.85%	72.86%	72.87%	70.01%	69.97%	69.97%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.91%	0.15%	0.14%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.56%	0.20%	0.20%
	27.56%	27.56%	27.57%	27.57%	27.15%	27.15%	27.14%	28.52%	29.68%	29.70%
No. of Shareholders	574	534	485	456	5,899	20,980	30,059	41,641	36,867	36,307

* 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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Zodiac Energy Ltd

Zodiac Energy Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

Credit ratings

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