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Zuari Industries Limited
(ZUARIIND)
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Rating:56Neutral
Price Target:
₹247.00
▼(-4.37% Downside)
Action:Reiterated
Date:08/21/26
Overall score reflects moderate attractiveness: the biggest constraint is weak recent cash flow (negative free cash flow in 2025–2026) and historically volatile profitability, partially offset by improved leverage and a low P/E valuation. Technicals are constructive with price above key moving averages, but elevated RSI suggests near-term momentum may be stretched.
Positive Factors
Lower leverage
Recent debt reduction has improved the company’s balance-sheet resilience and reduced pressure on future cash resources. A lower debt burden can provide greater flexibility to support fertilizer operations, manage volatility, and allocate capital while the business works to stabilize performance.
Negative Factors
Weak cash conversion
Negative free cash flow in the latest two years indicates that reported earnings have not translated into sufficient cash after investment and working-capital needs. Continued weak conversion could limit internal funding, reduce financial flexibility, and make recovery more dependent on balance-sheet resources.
Read all positive and negative factors
Positive Factors
Negative Factors
Lower leverage
Recent debt reduction has improved the company’s balance-sheet resilience and reduced pressure on future cash resources. A lower debt burden can provide greater flexibility to support fertilizer operations, manage volatility, and allocate capital while the business works to stabilize performance.
Read all positive factors
Zuari Industries Limited (ZUARIIND) vs. iShares MSCI India ETF (INDA)
Market Cap
₹7.15B
Dividend Yield0.41%
Average Volume (3M)5.12K
Price to Earnings (P/E)6.6
Beta (1Y)1.14
Revenue Growth9.70%
EPS GrowthN/A
CountryIN
Employees376
SectorGeneral
Sector StrengthN/A
IndustryConglomerates
Share Statistics
EPS (TTM)36.44
Shares Outstanding29,781,183
10 Day Avg. Volume2,409
30 Day Avg. Volume5,117
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.18
Price to Sales (P/S)0.61
P/FCF Ratio-49.35
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 Industries Limited Business Overview & Revenue Model
Company Description
Zuari Industries Limited, a diversified Indian conglomerate, was established in 1967 and has its headquarters in Gurugram, India. Operating under its current name since June 2022 (having previously been known as Zuari Global Limited), the company'...
How the Company Makes Money
Zuari Industries Limited makes money mainly through (1) fertilizer-related operations and (2) income from investments and other business interests held through subsidiaries/associates.
1) Fertilizer and agri-input business revenue:
- Product sale...
Zuari Industries Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
63
Positive
Cash Flow
36
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.99B | 10.45B | 9.70B | 8.37B | 9.55B | 7.21B |
| Gross Profit | 1.99B | 1.55B | 1.37B | 2.97B | 3.11B | 2.59B |
| EBITDA | 2.92B | 3.95B | 1.42B | 10.66B | 5.90B | 2.25B |
| Net Income | 1.09B | 1.08B | -932.19M | 7.14B | 3.11B | -358.26M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 71.64B | 89.27B | 74.94B | 58.09B | 62.44B |
| Cash, Cash Equivalents and Short-Term Investments | 4.54B | 4.54B | 6.94B | 775.19M | 7.36B | 3.39B |
| Total Debt | 0.00 | 25.98B | 25.09B | 23.77B | 26.32B | 24.53B |
| Total Liabilities | -36.04B | 35.60B | 38.95B | 35.90B | 34.27B | 32.82B |
| Stockholders Equity | 36.04B | 36.21B | 50.48B | 39.19B | 23.95B | 29.74B |
Cash Flow | ||||||
| Free Cash Flow | 2.72B | -128.73M | -1.81B | 578.95M | -15.26M | 407.23M |
| Operating Cash Flow | 2.84B | 128.66M | -1.66B | 714.80M | 159.69M | 615.25M |
| Investing Cash Flow | -166.52M | -801.23M | 895.32M | 4.75B | 945.60M | 693.34M |
| Financing Cash Flow | -3.03B | 553.88M | 946.77M | -5.83B | -886.48M | -869.04M |
Zuari Industries Limited Technical Analysis
Negative
258.30
Price Trends
268.72
Negative
263.79
Negative
261.09
Negative
Market Momentum
-9.73
Positive
34.11
Neutral
19.22
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZUARIIND, the sentiment is Negative. The current price of 258.3 is below the 20-day moving average (MA) of 262.29, below the 50-day MA of 268.72, and below the 200-day MA of 261.09, indicating a bearish trend. The MACD of -9.73 indicates Positive momentum. The RSI at 34.11 is Neutral, neither overbought nor oversold. The STOCH value of 19.22 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ZUARIIND.
Zuari Industries Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹26.75B | 9.57 | ― | 5.44% | 8.87% | 2.96% | |
62 Neutral | ₹40.18B | 17.18 | ― | 2.75% | 21.02% | -44.88% | |
56 Neutral | ₹7.15B | 6.56 | ― | 0.41% | 9.70% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
48 Neutral | ₹36.44B | 55.61 | ― | ― | -63.67% | 348.23% | |
46 Neutral | ₹78.17B | 17.48 | ― | 1.62% | -19.71% | 355.54% | |
45 Neutral | ₹6.00B | 0.92 | ― | 1.36% | ― | 2545.89% |
* General Sector Average
IN:ZUARIIND
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Zuari Industries Limited Corporate Events
Zuari Industries Moves to Broaden Access to FY26 Annual Report
Aug 25, 2026
Zuari Industries Limited has notified the National Stock Exchange of India and BSE that it has dispatched letters to shareholders whose email addresses are not registered with the company or its depositories. These letters provide a web link and p...
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.