Zuari Agro Chemicals Ltd.
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ABOUT
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AI GENERATEDChemicals
The available domestic chemical proxies are mixed to weak. Fertilizers output was -8.0% YoY (2026-07) and sale quantity of fertilisers was 0.0% YoY (2026-05), although that high-frequency barometer is stale. FPI positioning is less negative than before, with net 3-month outflow only INR -11 crore versus INR -1229 crore in the prior 3 months to 2026-08-31, but the weak sector driver argues for a neutral stance.
PROS
- Company has a healthy return on capital (ROCE) of 26.6%
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.5%
- Company has consistently been profitable over the last 5 years
- Company comfortably covers its interest (12.8x coverage)
- Company generates healthy free cash flow
- Stock looks reasonably valued - P/E of 1.0 is below its historical median
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 21.7% versus prior year
- Company has delivered a poor sales growth of 5.9% over past five years
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| COROMANDEL | 1961.35 | 31.59 | 57871.77 | 0.56 | 381.56 | -23.93 | 8164.77 | 15.94 | 23.92 | 9.26 |
| FACT | 785.95 | 1818.91 | 50856.62 | 0.00 | -67.90 | -948.75 | 1567.84 | 65.14 | 11.30 | -2.73 |
| CHAMBLFERT | 415.70 | 8.64 | 16655.12 | 2.65 | 523.60 | -4.61 | 5027.02 | -11.77 | 25.50 | 16.42 |
| PARADEEP | 158.05 | 15.31 | 16413.81 | 0.95 | 392.54 | 53.43 | 6124.25 | 63.14 | 15.09 | 11.76 |
| MBAPL | 162.03 | 45.82 | 7099.10 | 0.06 | 329.62 | 1068.62 | 4163.01 | 916.15 | 19.41 | 15.83 |
| GSFC | 160.05 | 9.21 | 6377.63 | 3.12 | 158.54 | 14.39 | 3583.15 | 64.03 | 7.17 | 6.58 |
| RCF | 112.65 | 13.92 | 6214.77 | 1.19 | 73.53 | 35.09 | 3585.71 | 6.38 | 10.81 | 6.11 |
| KRISHANA | 181.93 | 28.60 | 5624.15 | 0.06 | 47.09 | 54.01 | 532.31 | 34.58 | 27.26 | 16.71 |
| NFL | 69.99 | 9.42 | 3433.56 | 1.49 | 113.38 | 387.47 | 4500.39 | 27.34 | 9.16 | 6.87 |
| SPIC | 70.12 | 6.97 | 1427.93 | 2.85 | 60.18 | -9.79 | 848.81 | 9.22 | 16.82 | 9.27 |
| MADRASFERT | 63.13 | 14.33 | 1017.03 | 0.00 | 34.59 | -21.49 | 814.01 | 21.07 | 27.70 | 6.46 |
| ZUARI | 225.95 | 1.01 | 950.30 | 0.00 | 118.70 | -90.68 | 615.21 | -50.63 | 50.40 | 25.25 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,205 | 1,649 | 843 | 898 | 1,097 | 1,123 | 1,264 | 952 | 1,246 | 1,423 | 344 | 187 | 615 | |
| 1,082 | 1,510 | 768 | 879 | 978 | 1,022 | 1,148 | 920 | 1,105 | 1,249 | 334 | 202 | 579 | |
| Operating Profit | 124 | 139 | 75 | 19 | 118 | 101 | 117 | 32 | 141 | 174 | 9 | -14 | 36 |
| OPM % | 10.25% | 8.42% | 8.92% | 2.07% | 10.77% | 9.01% | 9.22% | 3.41% | 11.29% | 12.21% | 2.70% | -7.70% | 5.93% |
| 15 | 23 | 12 | 127 | 10 | 17 | 6 | 22 | 6 | 822 | -2 | 5 | 1 | |
| Interest | 57 | 55 | 49 | 51 | 48 | 44 | 40 | 36 | 34 | 32 | 18 | 17 | 18 |
| Depreciation | 23 | 23 | 24 | 25 | 25 | 25 | 26 | 25 | 25 | 25 | 4 | 5 | 5 |
| Profit before Tax | 59 | 84 | 15 | 70 | 55 | 49 | 56 | -7 | 88 | 939 | -15 | -31 | 133 |
| Tax % | 45.30% | 46.65% | 115.36% | -4.57% | 49.18% | 40.91% | 35.61% | -74.36% | 30.56% | 21.26% | 68.15% | -0.26% | 11.00% |
| Net Profit | 0 | 0 | 0 | 0 | 29 | 934 | 810 | 272 | 1,274 | 840 | 397 | -25 | 119 |
| -5.77 | 15.83 | 6.78 | 17.87 | 2.17 | 19.30 | 12.97 | 4.72 | 23.54 | 191.68 | 9.43 | -5.94 | 28.17 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 6,377 | 7,265 | 8,103 | 5,004 | 2,404 | 3,590 | 4,553 | 4,595 | 4,436 | 3,200 | 2,569 | |
| 5,906 | 6,730 | 7,788 | 5,227 | 2,198 | 3,357 | 4,220 | 4,239 | 4,068 | 2,890 | 2,364 | |
| Operating Profit | 471 | 535 | 315 | -223 | 206 | 233 | 332 | 356 | 368 | 309 | 205 |
| OPM % | 7.38% | 7.37% | 3.88% | -4.45% | 8.56% | 6.50% | 7.30% | 7.75% | 8.30% | 9.67% | 7.98% |
| -8 | 62 | -61 | 50 | 62 | 61 | 538 | 177 | 54 | 832 | 827 | |
| Interest | 440 | 404 | 488 | 535 | 200 | 173 | 207 | 211 | 168 | 101 | 85 |
| Depreciation | 77 | 83 | 87 | 111 | 68 | 67 | 79 | 95 | 102 | 59 | 39 |
| Profit before Tax | -54 | 111 | -321 | -818 | -0 | 214 | 683 | 251 | 303 | 1,199 | 1,027 |
| Tax % | 16.07% | 21.03% | -2.14% | -4.46% | -18411.73% | 22.10% | 18.89% | 31.78% | 23.81% | 18.07% | 19.91% |
| Net Profit | -45 | 87 | -328 | -855 | -39 | 167 | 554 | 171 | 231 | 982 | 822 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -37.35 | 31.01 | 113.33 | 23.74 | 39.18 | 218.70 | — |
| Dividend Payout % | -19.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -8%
- 5 Years:
- 6%
- 3 Years:
- -11%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 24%
STOCK PRICE CAGR
- 10 Years:
- 2%
- 5 Years:
- 14%
- 3 Years:
- 11%
- 1 Year:
- -21%
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 38%
- 3 Years:
- 24%
- Last Year:
- 50%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 | 42 |
| Minority Interest | 364 | 390 | 400 | 414 | 443 | 477 | 533 | 596 | 662 | 1 |
| 1,325 | 1,423 | 1,110 | 299 | 154 | 325 | 1,539 | 1,649 | 1,810 | 2,042 | |
| 4,317 | 4,513 | 5,242 | 3,367 | 1,847 | 2,638 | 2,107 | 1,722 | 692 | 626 | |
| Trade Payables | 1,079 | 1,452 | 1,957 | 1,966 | 408 | 587 | 483 | 338 | 159 | 233 |
| 386 | 351 | 452 | 406 | 2,410 | 2,123 | 345 | 464 | 1,656 | 299 | |
| Total Liabilities | 7,514 | 8,171 | 9,202 | 6,495 | 5,304 | 6,192 | 5,050 | 4,811 | 5,020 | 3,242 |
| 1,789 | 1,794 | 1,832 | 1,859 | 1,428 | 1,420 | 1,937 | 1,954 | 862 | 155 | |
| Capital Work in Progress | 143 | 147 | 154 | 168 | 78 | 320 | 15 | 14 | 4 | 0 |
| 881 | 914 | 819 | 859 | 955 | 1,126 | 1,242 | 1,270 | 1,425 | 2,581 | |
| 707 | 1,051 | 1,765 | 549 | 222 | 504 | 399 | 316 | 172 | 268 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 598 | 86 | 90 | |
| Cash & Bank | 72 | 169 | 84 | 324 | 609 | 705 | 427 | 389 | 212 | 62 |
| 3,921 | 4,096 | 4,548 | 2,737 | 2,013 | 2,117 | 1,030 | 271 | 2,258 | 87 | |
| Total Assets | 7,514 | 8,171 | 9,202 | 6,495 | 5,304 | 6,192 | 5,050 | 4,811 | 5,020 | 3,242 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,133 | 313 | -352 | 2,644 | 1,502 | 595 | 147 | 473 | 511 | 203 | |
| Cash from Investing | -40 | -63 | -103 | -16 | -171 | -137 | 426 | 3 | -122 | -69 |
| Cash from Financing | -1,003 | -148 | 360 | -2,404 | -1,188 | -296 | -697 | -527 | -494 | -335 |
| 54 | 82 | -97 | 215 | 162 | 138 | -176 | -51 | -104 | -201 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-31 - Zuari Agro Chemicals Limited has informed the Exchange and attached intimation of Adjudication order received from Registrar of Companies, Goa as required under Reg 30 of SEBI, LODR 2015.The prescribed signed PDF intimation was attached and submitted in XBRL on 26th August 2026 through BSE s single filing mechanism. However, the PDF is not reflecting under Announcement tab.Accordingly, the said intimation PDF is attached herewith for dissemination and records. Further, kindly note that the delay, limited to PDF submission was inadvertent and procedural.Kindly consider and take on records.
2026-08-26 - Zuari Agro Chemicals Limited has informed the Exchange about General Updates
2026-08-25 - Zuari Agro Chemicals Limited has informed the Exchange about Copy of Newspaper Publication w.r.t 17th AGM Notice and Annual Report for the FY 2025-26
2026-08-24 - Zuari Agro Chemicals Limited has informed the Exchange regarding Notice of 17 th Annual General Meeting to be held on September 16, 2026 and Annual Report for the financial year 2025-26
2026-08-24 - Zuari Agro Chemicals Limited has informed the Exchange regarding Notice of 17th Annual General Meeting to be held on September 16, 2026
2026-08-13 - Zuari Agro Chemicals Limited has informed the Exchange about final orders passed
2026-08-07 - Zuari Agro Chemicals Limited has informed the Exchange about Copy of Newspaper Publication for intimation to the shareholders regarding convening of the Seventeenth Annual General Meeting of the Company
2026-08-01 - Zuari Agro Chemicals Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-31 - Zuari Agro Chemicals Limited has informed the Exchange regarding Outcome of Board Meeting held on July 31, 2026.
News
Recent coverage and analyst commentary for ZUARI
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