Zeal Global Services Ltd.

•

zeal-global.comBSE: -NSE: ZEAL

Market Cap₹ 102 Cr.

Current Price

High / Low₹ 125 / 56

Stock P/E9.1

Book Value₹ 69

Price to Book1.98

Dividend Yield1.96 %

ROCE24.0 %

ROE19.4 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Services

Buy

Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.

Confidence

72%

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PROS

Company has delivered good profit growth of 60.8% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 35.9%
Company has a good return on equity (ROE) track record: 3 Years ROE 33.7%
Company has delivered good sales growth of 36.9% CAGR over last 5 years
Company has consistently been profitable over the last 5 years

CONS

Free cash flow has been persistently negative
Total debt has risen sharply - up 44.9% year on year
Though reporting repeated profits, the company pays out little dividend (0.0%)
Growth is decelerating - 3Y profit CAGR (39.9%) trails the 5Y trend (60.8%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ServicesLogisticsLogistics

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	CONCOR	499.80	30.65	38065.66	1.72	268.90	0.61	2159.76	0.28	13.63	20.41
2.	DELHIVERY	438.60	351.36	32864.05	0.00	31.91	-64.96	2930.73	27.76	2.97	4.75
3.	SHADOWFAX	253.25	133.05	14862.94	0.00	654.00	6732.86	13581.20	1806.32	11.58	6.76
4.	BLACKBUCK	629.05	67.88	11459.23	0.00	42.17	25.14	204.17	42.17	12.75	24.35
5.	TCI	859.95	14.47	6607.09	1.16	106.60	-0.56	1248.50	9.58	20.52	12.30
6.	TVSSCS	130.35	88.81	5751.35	0.00	22.48	-96.84	3335.22	28.66	11.51	6.75
7.	VRLLOG	231.45	18.88	4048.92	0.00	805.30	1509.31	8788.40	1080.70	26.47	21.23
8.	MAHLOG	396.65	102.33	3937.84	0.63	27.83	394.81	2002.88	23.29	10.40	5.76
9.	SINDHUTRAD	24.08	47.98	3712.96	0.00	38.74	-79.39	129.21	-21.85	12.80	45.34
10.	GATEWAY	53.34	10.91	2665.10	6.09	512.68	724.44	5492.97	897.94	17.99	21.31
11.	TCIEXP	513.50	23.94	1974.11	1.36	20.49	5.24	313.40	9.29	13.92	10.03
12.	ZEAL	76.55	9.14	101.89	1.96	—	—	—	—	23.97	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	76	61	121	112	193	368
	75	58	114	97	175	346
Operating Profit	2	2	7	15	19	21
OPM %	2.46%	3.96%	6.08%	13.29%	9.59%	5.82%
	0	0	0	0	2	4
Interest	0	0	0	1	2	1
Depreciation	0	0	0	1	3	5
Profit before Tax	2	2	7	13	16	19
Tax %	25.90%	25.82%	26.35%	26.20%	26.03%	26.29%
Net Profit	1	2	5	10	12	14
EPS	1.78	2.26	9.61	10.08	9.03	10.96
Dividend Payout %	52.23%	11.15%	0.00%	0.00%	11.07%	0.00%

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 37%
3 Years:: 45%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 63%
3 Years:: 26%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -30%
1 Year:: -32%

RETURN ON EQUITY

10 Years:: —
5 Years:: 38%
3 Years:: 34%
Last Year:: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1	1	2	10	13	13
	4	5	11	13	53	68
	3	2	2	17	10	14
Trade Payables	14	10	16	15	27	26
	1	1	1	5	11	21
Total Liabilities	22	19	32	60	115	143
	0	1	0	9	18	19
	0	0	2	2	3	3
	0	0	0	0	16	25
Cash & Bank	11	4	11	7	35	51
	11	14	18	41	43	44
Total Assets	22	19	32	60	115	143

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	11	-4	9	-7	23	14
Cash from Investing	-1	0	-5	-9	-43	-17
Cash from Financing	1	-1	0	14	23	3
	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

Shareholding Pattern

Numbers in percentages

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	73.40	73.40	73.40	73.40	73.40	73.40
	0.00	0.06	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.39	2.19	2.44
Government	0.00	0.00	0.00	0.00	0.00	0.00
	26.60	26.54	26.60	26.21	24.41	24.16

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for ZEAL

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Zeal Global Services Ltd.

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Name

CONCOR

499.80

30.65

38065.66

1.72

268.90

0.61

2159.76

0.28

13.63

20.41

DELHIVERY

438.60

351.36

32864.05

0.00

31.91

-64.96

2930.73

27.76

2.97

4.75

SHADOWFAX

253.25

133.05

14862.94

0.00

654.00

6732.86

13581.20

1806.32

11.58

6.76

BLACKBUCK

629.05

67.88

11459.23

0.00

42.17

25.14

204.17

42.17

12.75

24.35

TCI

859.95

14.47

6607.09

1.16

106.60

-0.56

1248.50

9.58

20.52

12.30

TVSSCS

130.35

88.81

5751.35

0.00

22.48

-96.84

3335.22

28.66

11.51

6.75

VRLLOG

231.45

18.88

4048.92

0.00

805.30

1509.31

8788.40

1080.70

26.47

21.23

MAHLOG

396.65

102.33

3937.84

0.63

27.83

394.81

2002.88

23.29

10.40

5.76

SINDHUTRAD

24.08

47.98

3712.96

0.00

38.74

-79.39

129.21

-21.85

12.80

45.34

GATEWAY

53.34

10.91

2665.10

6.09

512.68

724.44

5492.97

897.94

17.99

21.31

TCIEXP

513.50

23.94

1974.11

1.36

20.49

5.24

313.40

9.29

13.92

10.03

ZEAL

76.55

9.14

101.89

1.96

—

23.97

—

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

121

112

193

368

114

175

346

Operating Profit

OPM %

2.46%

3.96%

6.08%

13.29%

9.59%

5.82%

Interest

Depreciation

Profit before Tax

Tax %

25.90%

25.82%

26.35%

26.20%

26.03%

26.29%

Net Profit

EPS

1.78

2.26

9.61

10.08

9.03

10.96

Dividend Payout %

52.23%

11.15%

0.00%

11.07%

0.00%

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

Trade Payables

Total Liabilities

115

143

Cash & Bank

Total Assets

115

143

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-4

-7

Cash from Investing

-1

-5

-9

-43

-17

Cash from Financing

-1

-6

-3

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2023

Mar 2024

Sep 2024

Mar 2025

Sep 2025

Mar 2026

73.40

0.00

0.06

0.00

0.39

2.19

2.44

Government

0.00

26.60

26.54

26.60

26.21

24.41

24.16

Zeal Global Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Zeal Global Services Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI