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Zuari Agro Chemicals Ltd.
(ZUARI)
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Rating:55Neutral
Price Target:
₹215.00
▼(-2.21% Downside)
Action:Reiterated
Date:09/17/26
The score is held back primarily by unstable operating performance (sharp revenue decline and weakened cash flow with negative free cash flow in 2026) and a clearly bearish technical trend (price below key moving averages with negative MACD). A very low P/E meaningfully offsets these risks, but the cheap valuation appears tied to volatility in earnings quality and cash generation.
Positive Factors
Essential fertilizer business
Fertilizers address an essential agricultural need, giving Zuari exposure to recurring demand from farmers and cropping activity. Its focus on plant nutrition and related agri-solutions provides a clear business purpose and can support durable relevance across domestic farming markets over the next several quarters.
Negative Factors
Sharp revenue contraction
The sharp 2026 revenue decline signals weakened commercial momentum and creates uncertainty around the company’s near-term ability to maintain scale. Prolonged top-line contraction could reduce operating leverage, pressure supplier and channel economics, and make future earnings growth harder to sustain.
Read all positive and negative factors
Positive Factors
Negative Factors
Essential fertilizer business
Fertilizers address an essential agricultural need, giving Zuari exposure to recurring demand from farmers and cropping activity. Its focus on plant nutrition and related agri-solutions provides a clear business purpose and can support durable relevance across domestic farming markets over the next several quarters.
Read all positive factors
Zuari Agro Chemicals Ltd. (ZUARI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹8.97B
Dividend Yield0.25%
Average Volume (3M)6.91K
Price to Earnings (P/E)0.9
Beta (1Y)1.00
Revenue Growth-43.98%
EPS Growth268.95%
CountryIN
Employees9
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)223.34
Shares Outstanding42,058,006
10 Day Avg. Volume4,084
30 Day Avg. Volume6,905
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.36
Price to Sales (P/S)0.24
P/FCF Ratio-17.94
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
Zuari Agro Chemicals Ltd. Business Overview & Revenue Model
Company Description
Headquartered in Bengaluru, India, Zuari Agro Chemicals Limited, established in 1967, is engaged in the manufacturing, trading, and distribution of a wide variety of chemical and other agricultural nutrient products throughout India. Its comprehen...
How the Company Makes Money
Zuari Agro Chemicals Ltd. primarily makes money by selling agricultural inputs, with fertilizer sales forming the central revenue stream. The company generates revenue by (1) manufacturing and/or sourcing fertilizers and selling them into the dome...
Zuari Agro Chemicals Ltd. Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
63
Positive
Cash Flow
42
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 25.69B | 32.00B | 44.36B | 45.92B | 45.53B | 35.88B |
| Gross Profit | 6.04B | 8.71B | 16.70B | 5.79B | 14.73B | 12.20B |
| EBITDA | 11.44B | 3.09B | 4.23B | 5.31B | 8.55B | 2.85B |
| Net Income | 9.39B | 9.20B | 1.65B | 998.29M | 4.77B | 1.30B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 32.51B | 50.26B | 48.20B | 50.52B | 62.62B |
| Cash, Cash Equivalents and Short-Term Investments | 633.60M | 633.60M | 2.12B | 3.49B | 3.89B | 5.86B |
| Total Debt | 0.00 | 6.42B | 7.17B | 17.83B | 21.08B | 26.43B |
| Total Liabilities | -20.90B | 11.61B | 25.09B | 25.30B | 29.37B | 54.18B |
| Stockholders Equity | 20.90B | 20.89B | 18.56B | 16.94B | 15.81B | 3.67B |
Cash Flow | ||||||
| Free Cash Flow | -424.70M | -424.70M | 4.07B | 3.29B | -2.22B | 3.44B |
| Operating Cash Flow | 1.17B | 1.17B | 5.11B | 4.73B | 948.00M | 5.71B |
| Investing Cash Flow | -729.80M | -729.80M | -1.22B | 28.03M | 4.26B | -1.37B |
| Financing Cash Flow | -2.45B | -2.45B | -4.94B | -5.27B | -6.98B | -2.96B |
Zuari Agro Chemicals Ltd. Technical Analysis
Negative
219.85
Price Trends
224.95
Negative
225.95
Negative
238.93
Negative
Market Momentum
-2.18
Positive
40.55
Neutral
46.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZUARI, the sentiment is Negative. The current price of 219.85 is below the 20-day moving average (MA) of 220.98, below the 50-day MA of 224.95, and below the 200-day MA of 238.93, indicating a bearish trend. The MACD of -2.18 indicates Positive momentum. The RSI at 40.55 is Neutral, neither overbought nor oversold. The STOCH value of 46.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ZUARI.
Zuari Agro Chemicals Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹38.85B | 17.94 | ― | 1.52% | 4.41% | 24.42% | |
70 Outperform | ₹159.99B | 8.26 | ― | 2.77% | 15.58% | 10.17% | |
66 Neutral | ₹58.60B | 8.47 | ― | 3.40% | 29.18% | 7.85% | |
63 Neutral | ₹520.72B | 28.97 | ― | 0.61% | 23.50% | -18.96% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹8.97B | 0.95 | ― | 0.25% | -43.98% | 268.95% | |
52 Neutral | ₹58.95B | 13.24 | ― | 2.19% | 17.52% | 56.09% |
* General Sector Average
IN:ZUARI
Zuari Agro Chemicals Ltd.
211.60
-61.35
-22.48%
IN:CHAMBLFERT
Chambal Fertilisers & Chemicals Ltd.
397.40
-107.20
-21.24%
IN:COROMANDEL
Coromandel International Limited
1,800.25
-540.29
-23.08%
IN:GSFC
Gujarat State Fertilizers & Chemicals Limited
147.05
-43.38
-22.78%
IN:RALLIS
Rallis India Limited
197.25
-107.40
-35.25%
IN:RCF
Rashtriya Chemicals & Fertilizers Ltd.
106.65
-37.95
-26.25%
Zuari Agro Chemicals Ltd. Corporate Events
Zuari Agro Chemicals Enhances Digital Access Ahead of 17th AGM
Aug 26, 2026
Zuari Agro Chemicals Ltd. has notified stock exchanges that it has dispatched letters to shareholders who have not registered email addresses, providing the web link and exact navigation path to access the company’s Annual Report for FY 2025...
Zuari Agro Chemicals completes electronic dispatch of AGM notice and annual report
Aug 25, 2026
Zuari Agro Chemicals Ltd., a listed agrochemicals and fertiliser manufacturer based in Goa, serves the agricultural sector and maintains a nationwide investor base through its presence on major Indian stock exchanges. The company emphasises transp...
Zuari Agro Chemicals Schedules 17th AGM, Releases 2025-26 Annual Report
Aug 24, 2026
Zuari Agro Chemicals Ltd., a listed fertiliser and agrochemicals manufacturer based in Goa and serving India’s agricultural sector, has announced the convening of its seventeenth Annual General Meeting. The company maintains compliance with ...
Zuari Agro Chemicals Shareholders Approve Key Board Appointments via Postal Ballot
Jul 27, 2026
Zuari Agro Chemicals Ltd. has reported to the stock exchanges that its shareholders have approved, via postal ballot and remote e-voting, the appointment of Nitin M. Kantak as Managing Director with remuneration and Pramod Kumar Gupta as a Non-Exe...
Zuari Agro Chemicals Moves Physical Shareholders to Demat Under SEBI Rules
Jul 15, 2026
Zuari Agro Chemicals Ltd. has notified stock exchanges that it is implementing SEBI’s updated rules requiring holders of physical share certificates to furnish Permanent Account Number, full KYC details, and bank information, and to convert ...
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.