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Zodiac Energy Ltd.
(ZODIAC)
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Rating:55Neutral
Price Target:
₹226.00
▼(-10.05% Downside)
Action:Reiterated
Date:08/29/26
The score is primarily constrained by weak recent cash flow and increased leverage despite strong revenue growth and improved operating profitability. Technicals add pressure due to a clear downtrend and negative momentum, while a reasonable P/E provides some support but is tempered by a minimal dividend yield.
Positive Factors
Accelerating Revenue Growth
The sharp acceleration in 2026 revenue indicates stronger demand and improving project scale after slower growth in prior years. Continued expansion can support operating leverage, strengthen market presence, and provide a larger base for future earnings if execution remains effective.
Negative Factors
Rising Financial Leverage
The rapid increase in debt relative to equity reduces financial flexibility and makes the company more dependent on borrowed funding. Higher leverage can amplify the effect of weaker project cash flows, increase financing pressure, and constrain future investment or capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
The sharp acceleration in 2026 revenue indicates stronger demand and improving project scale after slower growth in prior years. Continued expansion can support operating leverage, strengthen market presence, and provide a larger base for future earnings if execution remains effective.
Read all positive factors
Zodiac Energy Ltd. (ZODIAC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.37B
Dividend Yield0.34%
Average Volume (3M)17.50K
Price to Earnings (P/E)13.2
Beta (1Y)1.15
Revenue Growth37.70%
EPS Growth24.69%
CountryIN
Employees158
SectorGeneral
Sector StrengthN/A
IndustryConstruction Materials
Share Statistics
EPS (TTM)13.93
Shares Outstanding15,152,633
10 Day Avg. Volume9,581
30 Day Avg. Volume17,504
Financial Highlights & Ratios
PEG Ratio4.12
Price to Book (P/B)2.78
Price to Sales (P/S)0.60
P/FCF Ratio-6.91
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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...
How the Company Makes Money
Zodiac Energy Ltd. primarily generates revenue by selling and executing solar energy projects. Key revenue streams typically include (1) turnkey EPC/installation contracts for solar PV systems (covering system design, procurement of components suc...
Zodiac Energy Ltd. Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
52
Neutral
Cash Flow
24
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.44B | 4.08B | 2.20B | 1.38B | 1.43B |
| Gross Profit | 932.30M | 699.98M | 241.73M | 116.37M | 121.08M |
| EBITDA | 557.80M | 370.37M | 199.04M | 83.37M | 98.51M |
| Net Income | 210.80M | 199.70M | 109.72M | 31.89M | 54.60M |
Balance Sheet | |||||
| Total Assets | 4.82B | 3.02B | 1.16B | 947.54M | 791.63M |
| Cash, Cash Equivalents and Short-Term Investments | 339.20M | 180.78M | 15.71M | 55.71M | 34.04M |
| Total Debt | 2.43B | 1.75B | 408.12M | 459.20M | 177.52M |
| Total Liabilities | 3.64B | 2.06B | 681.05M | 587.04M | 462.51M |
| Stockholders Equity | 1.17B | 965.64M | 475.74M | 360.50M | 329.12M |
Cash Flow | |||||
| Free Cash Flow | -468.90M | -1.31B | 137.50M | -260.44M | -9.04M |
| Operating Cash Flow | -15.20M | -488.41M | 159.73M | -259.92M | 8.35M |
| Investing Cash Flow | -555.00M | -977.28M | -19.99M | -33.89M | -39.99M |
| Financing Cash Flow | 688.80M | 1.53B | -54.16M | 281.68M | 45.34M |
Zodiac Energy Ltd. Technical Analysis
Negative
251.25
Price Trends
247.27
Negative
268.97
Negative
272.17
Negative
Market Momentum
-8.05
Positive
29.57
Positive
13.75
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZODIAC, the sentiment is Negative. The current price of 251.25 is above the 20-day moving average (MA) of 236.32, above the 50-day MA of 247.27, and below the 200-day MA of 272.17, indicating a bearish trend. The MACD of -8.05 indicates Positive momentum. The RSI at 29.57 is Positive, neither overbought nor oversold. The STOCH value of 13.75 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ZODIAC.
Zodiac Energy Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹20.99B | 12.25 | ― | 0.61% | 6.55% | -4.48% | |
69 Neutral | ₹942.56M | 31.56 | ― | 0.60% | 60.64% | ― | |
58 Neutral | ₹14.11B | 35.04 | ― | 1.10% | 15.37% | 4.89% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹3.37B | 13.22 | ― | 0.34% | 37.70% | 24.69% | |
54 Neutral | ₹10.39B | -9.56 | ― | 1.09% | 8.18% | -132.37% | |
52 Neutral | ₹3.63B | 14.15 | ― | ― | ― | ― |
* General Sector Average
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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 reache...
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 ...
Zodiac Energy boosts capital and sets up new solar subsidiaries in India and Africa
Jul 6, 2026
Zodiac Energy Ltd. has modestly expanded its equity base with the allotment of 28,943 fully paid shares under its 2023 employee stock option plan, raising paid-up capital to ₹15.15 crore and slightly increasing the number of outstanding shar...
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.