Zodiac Energy Ltd. (ZODIAC) AI Stock Analysis

Zodiac Energy Ltd.

(NSE:ZODIAC)

Select Model

Rating:59.25Neutral

Price Target:INR 236.00▲(8.45% Upside)

Action:reiterated

Date:10/30/26

The score is held back primarily by weak/negative recent cash generation and higher leverage despite strong revenue acceleration and improved operating profitability. Technical indicators are mixed (some short-term strength but longer-term trend and MACD are weaker), while valuation is comparatively supportive with a reasonable P/E and a modest dividend yield.

Positive Factors

Accelerating Revenue GrowthThe sharp improvement in revenue growth indicates stronger demand and expanding business scale after muted performance in earlier years. If sustained, faster top-line growth can improve operating leverage, support reinvestment in solar capabilities, and strengthen the company’s position across its target markets.

Negative Factors

Higher LeverageThe substantial rise in debt-to-equity increases reliance on borrowed funding and reduces financial flexibility. Higher leverage can constrain capital allocation, amplify the effect of weaker operating periods, and make continued growth more dependent on maintaining adequate cash generation and access to financing.

Zodiac Energy Ltd. (ZODIAC) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 3.30B
Dividend Yield: 0.34%
Average Volume (3M): 17.06K
Price to Earnings (P/E): 13.0
Beta (1Y): 1.08
Revenue Growth: 39.58%
EPS Growth: 55.01%
Country: India
Employees: 158
Sector: General
Sector Strength: 55
Industry: Construction Materials

Zodiac Energy Ltd. Business Overview & Revenue Model

Company Description

Zodiac Energy Limited, established in 1992 and headquartered in Ahmedabad, India, specializes in the development and installation of various power generation facilities and related components across the country. The company offers a broad spectrum of...

Zodiac Energy Ltd. Financial Statement Overview

Summary

Strong acceleration in 2026 revenue growth and improved gross/operating margins support fundamentals, but the balance sheet is notably more levered (higher debt-to-equity) and recent operating/free cash flow has been negative and volatile, increasing funding and execution risk.

Income Statement

71Positive

Balance Sheet

52Neutral

Cash Flow

24Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	5.87B	5.44B	4.08B	2.20B	1.38B	1.43B
Gross Profit	1.01B	932.30M	699.98M	241.73M	116.37M	121.08M
EBITDA	621.62M	557.80M	370.37M	199.04M	83.37M	98.51M
Net Income	254.06M	210.80M	199.70M	109.72M	31.89M	54.60M
Balance Sheet
Total Assets	0	4.82B	3.02B	1.16B	947.54M	791.63M
Cash, Cash Equivalents and Short-Term Investments	339.20M	339.20M	180.78M	15.71M	55.71M	34.04M
Total Debt	0	2.43B	1.75B	408.12M	459.20M	177.52M
Total Liabilities	-1.19B	3.64B	2.06B	681.05M	587.04M	462.51M
Stockholders Equity	1.19B	1.17B	965.64M	475.74M	360.50M	329.12M
Cash Flow
Free Cash Flow	0	-468.90M	-1.31B	137.50M	-260.44M	-9.04M
Operating Cash Flow	0	-15.20M	-488.41M	120.57M	-259.92M	8.35M
Investing Cash Flow	0	-555.00M	-977.28M	-19.99M	-33.89M	-39.99M
Financing Cash Flow	0	688.80M	1.62B	-54.16M	281.68M	45.34M

Zodiac Energy Ltd. Technical Analysis

Technical Analysis SentimentNeutral

Last Price217.61

Price Trends

50DMA221.49Negative

100DMA242.58Negative

200DMA258.29Negative

Market Momentum

MACD-4.78Negative

RSI55.73Neutral

STOCH65.68Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZODIAC, the sentiment is Neutral. The current price of 217.61 is above the 20-day moving average (MA) of 203.96, below the 50-day MA of 221.49, and below the 200-day MA of 258.29, indicating a neutral trend. The MACD of -4.78 indicates Negative momentum. The RSI at 55.73 is Neutral, neither overbought nor oversold. The STOCH value of 65.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ZODIAC.

Zodiac Energy Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:ZODIAC against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:KCP	80Outperform	INR 18.53B	10.94	―	0.70%	6.55%	-4.48%
IN:NAVKARURB	63Neutral	INR 965.00M	32.32	―	0.59%	60.64%	―
IN:ZODIAC	59Neutral	INR 3.30B	12.97	―	0.34%	39.58%	55.01%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:BIRLANU	52Neutral	INR 9.38B	-8.60	―	1.20%	8.18%	-132.37%
IN:EUROBOND	52Neutral	INR 3.29B	12.91	―	―	―	―
IN:IFGLEXPOR	39Underperform	INR 11.68B	28.72	―	1.33%	15.37%	4.89%

* General Sector Average

Performance Comparison

IN:ZODIAC and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:ZODIAC	Zodiac Energy Ltd.	217.61	-142.47	-39.57%
IN:EUROBOND	Euro Panel Products Limited	134.45	-73.90	-35.47%
IN:BIRLANU	HIL Ltd.	1243.70	-658.70	-34.62%
IN:IFGLEXPOR	IFGL Refractories Ltd.	162.10	-85.87	-34.63%
IN:KCP	KCP Ltd.	143.75	-56.67	-28.28%
IN:NAVKARURB	Navkar Urbanstructure Limited	0.86	-1.46	-62.87%

Zodiac Energy Ltd. Corporate Events

Zodiac Energy Publishes 2025-26 Annual Report, Schedules Virtual AGM

Sep 2, 2026

Zodiac Energy Limited has notified the stock exchanges that it has circulated a letter to shareholders providing the web link and exact navigation path to access its Annual Report for the financial year 2025-26. The company has specifically reached o...

Zodiac Energy Forms New Wholly Owned Solar Power Subsidiary

Aug 25, 2026

Zodiac Energy Limited has incorporated a new wholly owned subsidiary, ZODIAC ENERGY IPP-2 Private Limited, in India to support its solar power and EPC operations. The entity, capitalized initially with ₹1 lakh and a nominal share capital of &#8...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 30, 2026

Zodiac Energy Ltd. AI Stock Analysis