Zenith Exports Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Industrials Leather Hand Gloves Made-Ups: 70.6% • Silk Fabrics and Made-Ups: 15.3% • Weaving Silk Fabrics: 14.1%
AI Sector View
AI GENERATEDTextiles
This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.
PROS
- Company is almost debt free
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.68x)
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (169.3% of PBT)
- Recent results are weak - TTM profit is down 95.5% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of 3.2%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PAGEIND | 35728.40 | 52.72 | 39851.01 | 1.54 | 1928.06 | 860.21 | 14204.45 | 978.91 | 73.60 | 20.35 |
| KPRMILL | 1128.10 | 42.27 | 38560.04 | 0.44 | 258.54 | 21.55 | 1935.52 | 14.77 | 20.16 | 19.37 |
| WELSPUNLIV | 210.45 | 71.62 | 19882.32 | 0.05 | 162.61 | 82.09 | 2795.45 | 23.66 | 6.41 | 11.53 |
| VTL | 575.60 | 19.66 | 16668.04 | 0.87 | 314.56 | 51.46 | 2703.08 | 13.31 | 8.91 | 18.11 |
| ARVIND | 569.60 | 37.41 | 15495.43 | 0.79 | 57.77 | 5.61 | 2500.96 | 24.65 | 15.30 | 9.64 |
| MANYAVAR | 576.55 | 34.77 | 14008.91 | 1.34 | 66.90 | 37.31 | 267.95 | 22.74 | 29.45 | 45.53 |
| PGIL | 2378.10 | 35.40 | 10984.57 | 0.61 | 992.34 | 51.37 | 15282.61 | 24.46 | 22.42 | 10.72 |
| SWANCORP | 297.90 | 41.77 | 9337.88 | 0.05 | -35.99 | -233.33 | 1013.75 | -16.44 | 4.50 | -0.38 |
| ICIL | 441.65 | 57.97 | 8747.07 | 0.34 | 63.22 | 67.28 | 1206.96 | 25.89 | 8.73 | 11.88 |
| GARFIBRES | 783.75 | 36.43 | 7653.19 | 1.15 | 64.60 | 21.56 | 482.37 | 31.35 | 20.98 | 18.70 |
| KUSUMGAR | 567.40 | 60.66 | 5957.21 | 0.00 | 426.47 | — | 2472.47 | — | 26.15 | 30.50 |
| ZENITHEXPO | 204.98 | 381.42 | 110.61 | 0.00 | -0.60 | -142.86 | 13.49 | -24.64 | 4.03 | -9.93 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 21 | 22 | 18 | 20 | 17 | 16 | 19 | 21 | 18 | 20 | 14 | 13 | 13 | |
| 21 | 22 | 19 | 21 | 17 | 19 | 18 | 22 | 17 | 19 | 14 | 14 | 15 | |
| Operating Profit | 0 | 0 | -1 | -1 | -0 | -3 | 0 | -1 | 1 | 0 | -0 | -1 | -2 |
| OPM % | 1.76% | 1.96% | -4.74% | -6.04% | -1.21% | -20.99% | 1.78% | -5.94% | 7.21% | 1.03% | -1.55% | -8.70% | -11.79% |
| 1 | 1 | 1 | 1 | 1 | 1 | 1 | 6 | 1 | 1 | 1 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 1 | 1 | -0 | -0 | 0 | -3 | 1 | 4 | 2 | 1 | 0 | -0 | -1 |
| Tax % | 31.58% | 32.91% | 16.67% | 8.70% | 36.36% | 23.36% | 26.37% | 25.19% | 27.46% | 22.94% | 46.88% | -33.33% | 24.05% |
| Net Profit | 0 | 1 | -0 | -0 | 0 | -2 | 1 | 3 | 1 | 1 | 0 | -0 | -1 |
| 0.72 | 0.98 | -0.37 | -0.77 | 0.26 | -3.89 | 1.24 | 5.55 | 2.59 | 1.56 | 0.31 | -0.22 | -1.11 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 243 | 129 | 110 | 99 | 83 | 51 | 91 | 62 | 82 | 72 | 60 | |
| 240 | 134 | 114 | 101 | 87 | 53 | 90 | 62 | 83 | 76 | 63 | |
| Operating Profit | 2 | -5 | -5 | -3 | -4 | -2 | 0 | -0 | -1 | -4 | -3 |
| OPM % | 0.87% | -4.07% | -4.51% | -2.62% | -5.21% | -4.34% | 0.42% | -0.23% | -1.14% | -5.83% | -4.56% |
| 5 | 5 | 6 | -4 | 6 | 4 | 3 | 5 | 4 | 9 | 4 | |
| Interest | 3 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 3 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 |
| Profit before Tax | 0 | -3 | -2 | -10 | -2 | -2 | 1 | 2 | 1 | 2 | 1 |
| Tax % | -424.67% | 30.25% | -0.77% | 19.42% | 17.14% | 19.06% | 25.60% | 21.12% | 54.29% | 28.85% | 45.28% |
| Net Profit | 0 | -2 | -2 | -8 | -1 | -1 | 1 | 2 | 0 | 2 | 0 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.87 | 2.92 | 0.56 | 3.17 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -12%
- 5 Years:
- -3%
- 3 Years:
- -7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 35%
- 5 Years:
- —
- 3 Years:
- 19%
STOCK PRICE CAGR
- 10 Years:
- 16%
- 5 Years:
- 19%
- 3 Years:
- 27%
- 1 Year:
- -28%
RETURN ON EQUITY
- 10 Years:
- -1%
- 5 Years:
- 1%
- 3 Years:
- 1%
- Last Year:
- 2%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| 87 | 84 | 83 | 75 | 73 | 72 | 73 | 74 | 75 | 77 | |
| 14 | 8 | 14 | 17 | 10 | 9 | 14 | 10 | 6 | 8 | |
| Trade Payables | 7 | 6 | 4 | 6 | 6 | 7 | 5 | 6 | 6 | 6 |
| 7 | 4 | 3 | -0 | -0 | -2 | -1 | -1 | 0 | 1 | |
| Total Liabilities | 119 | 108 | 109 | 103 | 94 | 91 | 97 | 95 | 92 | 97 |
| 23 | 21 | 18 | 16 | 15 | 13 | 12 | 10 | 9 | 11 | |
| 0 | 4 | 18 | 2 | 0 | 0 | 1 | 1 | 1 | 2 | |
| 43 | 35 | 34 | 44 | 27 | 28 | 40 | 28 | 28 | 24 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14 | 18 | |
| Cash & Bank | 5 | 7 | 7 | 14 | 26 | 29 | 22 | 29 | 25 | 29 |
| 48 | 41 | 33 | 27 | 26 | 21 | 22 | 28 | 14 | 14 | |
| Total Assets | 119 | 108 | 109 | 103 | 94 | 91 | 97 | 95 | 92 | 97 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 19 | 12 | 8 | -9 | 17 | 3 | -15 | 19 | -7 | -3 | |
| Cash from Investing | 4 | -3 | -12 | 16 | -10 | 1 | 11 | -16 | 17 | -4 |
| Cash from Financing | -21 | -6 | 4 | 0 | -6 | -2 | 5 | -5 | -5 | 1 |
| 1 | 3 | -0 | 7 | 1 | 2 | 2 | -1 | 6 | -6 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - Zenith Exports Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-02 - Zenith Exports Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 24, 2026
2026-08-25 - Zenith Exports Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Zenith Exports Limited has informed the Exchange about General Updates
2026-08-13 - Zenith Exports Limited has informed the Exchange that Record date for the purpose of ANNUAL GENERAL MEETING is 17-Sep-2026.
2026-08-13 - Zenith Exports Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-12 - Zenith Exports Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-11 - Zenith Exports Limited has informed the Exchange about General Updates
2026-07-04 - Zenith Exports Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
News
Recent coverage and analyst commentary for ZENITHEXPO
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