Zuari Agro Chemicals Ltd. (IN:ZUARI)
:ZUARI
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Zuari Agro Chemicals Ltd.
(ZUARI)
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Rating:51Neutral
Price Target:
₹215.00
▼(-36.31% Downside)
Action:Reiterated
Date:05/21/26
The score is held back mainly by unstable fundamentals (sharp 2026 revenue decline, questionable sustainability of the earnings spike, and negative free cash flow) and weak technical momentum (below major moving averages with negative MACD). A low P/E provides some support but is not enough to offset the financial and trend risks.
Positive Factors
Strong cash generation
Zuari's operating cash flow is over three times reported net income and free cash flow has grown, indicating durable internal cash generation. This strengthens liquidity, funds working capital and capex without heavy new borrowing, and provides resilience through agricultural cycles.
Negative Factors
Declining revenue trends
Top-line is shrinking, undermining scale benefits and long-term growth prospects. Persistent revenue decline pressures margins, limits ability to expand distribution, and means improvements in margins must offset lost volume to sustain earnings and return metrics.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Zuari's operating cash flow is over three times reported net income and free cash flow has grown, indicating durable internal cash generation. This strengthens liquidity, funds working capital and capex without heavy new borrowing, and provides resilience through agricultural cycles.
Read all positive factors
Zuari Agro Chemicals Ltd. (ZUARI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹9.00B
Dividend YieldN/A
Average Volume (3M)17.81K
Price to Earnings (P/E)8.7
Beta (1Y)0.93
Revenue Growth-27.87%
EPS Growth458.30%
CountryIN
Employees624
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)232.91
Shares Outstanding42,058,006
10 Day Avg. Volume32,179
30 Day Avg. Volume17,813
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.45
Price to Sales (P/S)0.80
P/FCF Ratio3.93
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
Zuari Agro Chemicals Limited engages in the manufacturing, trading, and marketing of chemical fertilizers and other fertilizer products in India. It offers fertilizers, such as urea, DAP, MOP, and other complex fertilizers; water soluble fertilize...
How the Company Makes Money
Zuari Agro Chemicals Ltd. makes money primarily by selling agri-input products into the Indian farm economy through a dealer/retailer distribution network. Its key revenue stream is fertilizers—especially phosphatic fertilizers such as DAP and com...
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 | 48.85B | 32.00B | 44.36B | 45.92B | 45.53B | 35.88B |
| Gross Profit | 17.12B | 8.71B | 16.70B | 5.79B | 14.73B | 12.20B |
| EBITDA | 14.09B | 3.09B | 4.23B | 5.31B | 8.55B | 2.85B |
| Net Income | 9.80B | 9.20B | 1.65B | 998.29M | 4.77B | 1.30B |
Balance Sheet | ||||||
| Total Assets | 40.76B | 32.51B | 50.26B | 48.20B | 50.52B | 62.62B |
| Cash, Cash Equivalents and Short-Term Investments | 681.20M | 633.60M | 2.12B | 3.49B | 3.89B | 5.86B |
| Total Debt | 6.07B | 6.42B | 7.17B | 17.83B | 21.08B | 26.43B |
| Total Liabilities | 15.46B | 11.61B | 25.09B | 25.30B | 29.37B | 54.18B |
| Stockholders Equity | 25.30B | 20.89B | 18.56B | 16.94B | 15.81B | 3.67B |
Cash Flow | ||||||
| Free Cash Flow | 2.91B | -424.70M | 4.07B | 3.29B | -2.22B | 3.44B |
| Operating Cash Flow | 5.34B | 1.17B | 5.11B | 4.73B | 948.00M | 5.71B |
| Investing Cash Flow | -4.18B | -729.80M | -1.22B | 28.03M | 4.26B | -1.37B |
| Financing Cash Flow | -3.22B | -2.45B | -4.94B | -5.27B | -6.98B | -2.96B |
Zuari Agro Chemicals Ltd. Technical Analysis
Negative
337.55
Price Trends
219.23
Negative
246.48
Negative
269.39
Negative
Market Momentum
-1.65
Positive
37.40
Neutral
9.24
Positive
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 337.55 is above the 20-day moving average (MA) of 236.91, above the 50-day MA of 219.23, and above the 200-day MA of 269.39, indicating a bearish trend. The MACD of -1.65 indicates Positive momentum. The RSI at 37.40 is Neutral, neither overbought nor oversold. The STOCH value of 9.24 is Positive, 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 (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹11.65B | 17.66 | ― | 0.52% | 21.13% | 18.86% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | ₹5.43B | 93.87 | ― | ― | 58.83% | ― | |
52 Neutral | ₹10.51B | 0.88 | ― | 2.08% | 3.31% | 6542.77% | |
51 Neutral | ₹9.00B | 8.74 | ― | ― | -27.87% | 458.30% | |
46 Neutral | ₹7.59B | -247.22 | ― | 0.34% | -11.76% | 1526.28% | |
44 Neutral | ₹7.33B | -9.38 | ― | 0.32% | 7.61% | ― |
* Basic Materials Sector Average
IN:ZUARI
Zuari Agro Chemicals Ltd.
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IN:ZUARIIND
Zuari Industries Limited
246.25
-47.22
-16.09%
Zuari Agro Chemicals Ltd. Corporate Events
Zuari Agro Chemicals updates Corporate Identification Number after MoA change
May 7, 2026
Zuari Agro Chemicals Ltd. has announced a change in its Corporate Identification Number, which has been revised from L65910GA2009PLC006177 to L20121GA2009PLC006177 as per records of the Ministry of Corporate Affairs. The update follows shareholder...
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.