Zuari Agro Chemicals Ltd
Incorporated in 1967, Zuari Agro Chemicals Ltd manufactures, trades and markets chemical fertilizers and fertilizer
products[1]
- Market Cap ₹ 1,086 Cr.
- Current Price ₹ 258
- High / Low ₹ 395 / 155
- Stock P/E 4.26
- Book Value ₹ 441
- Dividend Yield 0.00 %
- ROCE 12.7 %
- ROE 9.06 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.59 times its book value
Cons
- The company has delivered a poor sales growth of 7.84% over past five years.
- Company has a low return on equity of 7.78% over last 3 years.
- Earnings include an other income of Rs.265 Cr.
- Dividend payout has been low at 4.38% of profits over last 3 years
- Company's cost of borrowing seems high
* 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
Commodities Chemicals Fertilizers & Agrochemicals Fertilizers
Part of BSE SmallCap BSE Allcap BSE Commodities
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 7,302 | 7,613 | 7,611 | 6,377 | 7,265 | 8,103 | 3,042 | 2,404 | 3,590 | 4,553 | 4,595 | 4,436 | 4,585 | |
| 7,092 | 7,313 | 7,334 | 5,905 | 6,722 | 7,783 | 3,382 | 2,369 | 3,351 | 4,215 | 4,233 | 4,058 | 4,195 | |
| Operating Profit | 210 | 300 | 277 | 472 | 542 | 320 | -340 | 35 | 239 | 338 | 362 | 378 | 391 |
| OPM % | 3% | 4% | 4% | 7% | 7% | 4% | -11% | 1% | 7% | 7% | 8% | 9% | 9% |
| 138 | 71 | 50 | 23 | 113 | -11 | 124 | 146 | 220 | 616 | 195 | 195 | 265 | |
| Interest | 380 | 318 | 419 | 440 | 404 | 488 | 278 | 200 | 173 | 207 | 211 | 168 | 154 |
| Depreciation | 34 | 30 | 66 | 77 | 83 | 87 | 68 | 68 | 67 | 79 | 95 | 102 | 101 |
| Profit before tax | -66 | 23 | -157 | -22 | 169 | -266 | -562 | -88 | 218 | 668 | 251 | 303 | 401 |
| Tax % | -14% | 29% | -22% | -40% | 14% | 3% | 37% | 44% | 22% | 19% | 32% | 24% | |
| -57 | 14 | -123 | -13 | 146 | -273 | -773 | -126 | 171 | 539 | 171 | 231 | 329 | |
| EPS in Rs | -10.52 | 2.13 | -27.40 | -5.22 | 27.91 | -68.57 | -190.74 | -37.35 | 31.01 | 113.33 | 23.74 | 39.18 | 60.54 |
| Dividend Payout % | -29% | 94% | -7% | -19% | 0% | 0% | 0% | 0% | 0% | 0% | 8% | 5% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | -5% |
| 5 Years: | 8% |
| 3 Years: | 7% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 34% |
| 5 Years: | 17% |
| 3 Years: | 6% |
| TTM: | 91% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 27% |
| 3 Years: | 13% |
| 1 Year: | 33% |
| Return on Equity | |
|---|---|
| 10 Years: | -5% |
| 5 Years: | 6% |
| 3 Years: | 8% |
| Last Year: | 9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 |
| Reserves | 975 | 965 | 1,305 | 1,325 | 1,423 | 1,110 | 299 | 154 | 325 | 1,539 | 1,652 | 1,814 |
| 3,747 | 3,434 | 5,047 | 4,299 | 4,506 | 5,235 | 3,368 | 1,851 | 2,643 | 2,108 | 1,783 | 717 | |
| 1,284 | 1,678 | 1,617 | 1,914 | 2,279 | 2,886 | 2,845 | 3,297 | 3,201 | 1,361 | 1,334 | 2,453 | |
| Total Liabilities | 6,048 | 6,118 | 8,011 | 7,580 | 8,250 | 9,273 | 6,554 | 5,344 | 6,211 | 5,050 | 4,811 | 5,026 |
| 450 | 488 | 1,829 | 1,793 | 1,798 | 1,835 | 1,862 | 1,431 | 1,424 | 1,940 | 1,957 | 865 | |
| CWIP | 282 | 424 | 102 | 143 | 147 | 154 | 168 | 78 | 320 | 19 | 23 | 7 |
| Investments | 206 | 209 | 774 | 878 | 911 | 815 | 855 | 952 | 1,126 | 1,242 | 1,270 | 1,425 |
| 5,111 | 4,998 | 5,306 | 4,767 | 5,395 | 6,469 | 3,668 | 2,883 | 3,341 | 1,848 | 1,561 | 2,729 | |
| Total Assets | 6,048 | 6,118 | 8,011 | 7,580 | 8,250 | 9,273 | 6,554 | 5,344 | 6,211 | 5,050 | 4,811 | 5,026 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 919 | 839 | -869 | 1,097 | 293 | -355 | 2,635 | 1,521 | 571 | 95 | 473 | 511 | |
| -149 | -286 | -489 | -40 | -63 | -103 | -16 | -171 | -137 | 426 | 3 | -122 | |
| -952 | -547 | 1,363 | -1,003 | -148 | 360 | -2,404 | -1,188 | -296 | -697 | -527 | -494 | |
| Net Cash Flow | -182 | 6 | 5 | 54 | 82 | -98 | 215 | 162 | 138 | -176 | -51 | -104 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 188 | 159 | 197 | 198 | 170 | 176 | 266 | 69 | 64 | 63 | 48 | 7 |
| Inventory Days | 55 | 61 | 45 | 56 | 74 | 107 | 94 | 52 | 78 | 47 | 38 | 23 |
| Days Payable | 45 | 70 | 54 | 86 | 102 | 118 | 339 | 96 | 91 | 57 | 41 | 21 |
| Cash Conversion Cycle | 198 | 149 | 188 | 168 | 142 | 164 | 22 | 25 | 52 | 53 | 45 | 9 |
| Working Capital Days | 15 | 1 | -33 | -50 | -44 | -31 | -250 | -304 | -224 | -68 | -62 | -165 |
| ROCE % | 5% | 7% | 5% | 8% | 10% | 5% | -5% | 3% | 13% | 10% | 8% | 13% |
Documents
Announcements
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Completion Of Transfer Of 2,90,37,000 Equity Shares Of MCFL By The Company To Zuari Maroc Phosphates Private Limited Today I.E. 13Th Oct, 2025 Pursuant To Composite Scheme Of Arrangement Amongst MCFL, PPL & Their Respective Shareholders & Creditors
13 Oct - Transferred 2,90,37,000 MCFL shares to ZMPPL at INR144; proceeds INR418.13 crore on Oct 13, 2025.
-
Allotment Of CCPS By ZMPPL
10 Oct - Subscribed 6,916,173 CCPS in ZMPPL for Rs177.4 crore on October 10, 2025.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 8 Oct
-
Closure of Trading Window
30 Sep - Trading window closed from 1 Oct 2025 until 48 hours after unaudited results for quarter/half-year ending 30 Sep 2025.
-
Intimation Regarding Completion Of Business Transfer To Mangalore Chemicals & Fertilizers Limited
29 Sep - Transferred Mahad SSP plant and related assets to MCFL for INR 72.75 crore; effective 30 Sep 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Concalls
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Feb 2019TranscriptPPT
Business Overview:[1][2]
ZACL is the flagship company of Adventz Group. It is also the holding company for the other agri-business operations of the Adventz Group. Company is a single-window agricultural solution provider and manufacturer of high-quality complex fertilizers of various grades along with micro nutrients and speciality fertilizers. Company manufactures and markets Single Super Phosphate (SSP) through its brand Jai Kisaan