Zuari Industries Limited (ZUARIIND) AI Stock Analysis

• Market Cap: ₹8.20B
• Dividend Yield: 0.32%
• Average Volume (3M): 93.77K
• Price to Earnings (P/E): 6.8
• Beta (1Y): 1.42
• Revenue Growth: 19.59%
• EPS Growth: -83.95%
• Country: IN
• Employees: 329
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Conglomerates
• EPS (TTM): 55.34
• Shares Outstanding: 29,781,183
• 10 Day Avg. Volume: 30,762
• 30 Day Avg. Volume: 93,767
• PEG Ratio: 0.07
• Price to Book (P/B): 0.14
• Price to Sales (P/S): 0.73
• P/FCF Ratio: -3.93
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 46 Neutral
• Price Target: ₹268.00 ▼(-17.50% Downside)

Zuari Industries Limited's overall stock score reflects significant financial challenges, including declining revenue and net losses. Technical analysis shows mixed signals, with some positive price momentum but bearish indicators. Valuation concerns arise from a negative P/E ratio and low dividend yield.

Positive Factors

Holding-company income diversification

Zuari’s holding-company model generates income from dividends, interest, asset sales and management fees across group businesses. This diversified income mix can provide recurring cash inflows and reduce single-operating-unit volatility, supporting medium-term resilience if subsidiaries recover.

Strategic exposure to agribusiness & fertilizers

Zuari’s core exposure to fertilizers and agri-products aligns with structural, inelastic agricultural demand. Essential nature of inputs and link to food security create durable end-market support, aiding stable long‑term volume demand and potential policy support in India over the next several months.

Moderate leverage and stable equity base

FinancialAnalysis notes moderate debt-to-equity and a relatively stable equity ratio, implying manageable leverage and a capital cushion. That balance-sheet positioning provides financing flexibility and shock absorption capacity while the company executes restructuring or waits for subsidiary performance improvements.

Negative Factors

Net losses and negative returns

Persistent net losses reduce retained earnings and erode shareholder value, limiting internal funding for operations or investments. Continued negative profitability pressures ROE and makes reliance on external financing likelier, constraining strategic options over the medium term.

Negative free cash flow growth

Negative FCF growth and weak cash conversion reduce liquidity and the firm’s ability to fund capex, working capital or returns to shareholders without new financing. Over months, this raises refinancing and operational risk, especially if subsidiaries don’t resume positive cash generation.

Deteriorating margins & inconsistent revenue

Eroding EBIT/EBITDA margins and inconsistent top-line trends undermine sustainable profitability and limit reinvestment capacity. Margin weakness reduces buffer against input cost shocks and makes long-term planning, pricing and competitive positioning more difficult for underlying operating businesses.

Zuari Industries Limited Business Overview & Revenue Model

Company Description

Zuari Industries Limited engages in agriculture, heavy engineering, infrastructure, lifestyle, and services businesses in India. It operates through eight segments: Engineering Services, Furniture, Real Estate, Sugar, Power, Investment Services, Ethanol, and Management Services. The Engineering Services segment provides technology, basic engineering, detailed engineering, project management, procurement, and construction services to chemical, fertilizer, oil and gas, petrochemical, power, engineering, contracting, and other infrastructure projects. The Furniture segment manufactures, sells, and trades in furniture products. The Real Estate segment engages in the development of real estate projects. The Sugar segment extracts, manufactures, and sells sugar. The Power segment is involved in the co-generation of power using by-products, such as bagasse. The Investment Services segment provides capital market-related services. The Ethanol Plant segment manufactures ethanol using molasses. The Management Services segment offers management consultancy, manpower outsourcing, and related services. In addition, the company provides insurance solutions to individuals and corporates as insurance brokers; and stock and commodity broking, depository participant, portfolio management, and registrar and share transfer agent services, as well as distributes mutual fund products. The company was formerly known as Zuari Global Limited and changed its name to Zuari Industries Limited in June 2022. Zuari Industries Limited was incorporated in 1967 and is based in Gurugram, India.

How the Company Makes Money

Zuari Industries generates revenue primarily through the sale of fertilizers, including urea and complex fertilizers, which are essential for agricultural productivity. The company also earns income from its seeds and crop protection chemical divisions, where it markets a range of products designed to enhance crop yields and protect against pests. Additionally, Zuari Industries has established partnerships with various agricultural suppliers and distributors, which helps expand its market reach and improve sales. The company’s diverse portfolio and strategic collaborations allow it to leverage different revenue streams, making it resilient in fluctuating market conditions.

Zuari Industries Limited Financial Statement Overview

Summary

Zuari Industries Limited is facing financial pressures with declining revenue and net losses. The balance sheet shows moderate leverage but negative returns on equity. Cash flow issues highlight liquidity concerns, necessitating strategic adjustments.

Income Statement

Zuari Industries Limited has shown inconsistent revenue growth with a decline in the recent year. The latest period reports a net loss, significantly affecting the net profit margin. Although there is a positive gross profit margin, the deterioration in EBIT and EBITDA margins highlights profitability challenges.

Balance Sheet

The company's balance sheet reveals a moderate debt-to-equity ratio, which indicates a reasonable level of financial leverage. However, the return on equity is negative due to the net losses, impacting shareholder value. The equity ratio is relatively stable, suggesting a solid base of stockholder equity compared to total assets.

Cash Flow

Zuari Industries Limited is experiencing negative free cash flow growth, reflecting operational challenges. The operating cash flow to net income ratio is unfavorable, indicating inefficiencies in converting income to cash. Despite some positive financing activities, the cash flow metrics portray liquidity concerns.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	10.02B	9.70B	8.37B	9.55B	7.21B	8.04B
Gross Profit	1.91B	1.37B	2.97B	3.11B	2.59B	2.70B
EBITDA	2.24B	1.42B	10.66B	5.90B	2.24B	1.71B
Net Income	-598.21M	-932.19M	7.14B	3.11B	-358.26M	-858.56M
Balance Sheet
Total Assets	0.00	89.27B	74.94B	58.09B	62.44B	49.94B
Cash, Cash Equivalents and Short-Term Investments	6.94B	6.94B	775.19M	7.36B	3.39B	777.59M
Total Debt	0.00	25.09B	23.77B	26.32B	24.53B	22.30B
Total Liabilities	-50.32B	38.95B	35.90B	34.27B	32.82B	29.88B
Stockholders Equity	50.32B	50.48B	39.19B	23.95B	29.74B	19.37B
Cash Flow
Free Cash Flow	0.00	-1.81B	578.95M	-15.26M	407.23M	938.40M
Operating Cash Flow	0.00	-1.66B	714.80M	159.69M	615.25M	1.09B
Investing Cash Flow	0.00	895.32M	4.75B	945.60M	693.34M	-2.04B
Financing Cash Flow	0.00	946.77M	-5.83B	-886.48M	-869.04M	901.05M

Zuari Industries Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 324.85
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 324.85 is above the 20-day moving average (MA) of 277.53, above the 50-day MA of 301.22, and above the 200-day MA of 304.49, indicating a bearish trend. The MACD of -9.84 indicates Negative momentum. The RSI at 35.27 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 is Neutral, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ZUARI	74 Outperform	₹11.81B	1.22	―	―	23.32%	447.31%
SHREEPUSHK	68 Neutral	₹11.31B	15.99	―	0.52%	28.67%	50.12%
KHAICHEM	62 Neutral	₹6.60B	9.17	―	―	67.43%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
UNIENTER	49 Neutral	₹7.86B	41.02	―	0.34%	―	―
MADRASFERT	48 Neutral	₹12.02B	15.17	―	―	3.38%	0.68%
ZUARIIND	46 Neutral	₹8.20B	6.82	―	0.32%	19.59%	-83.95%

Zuari Industries Limited Corporate Events

Zuari Industries Clarifies Recent Surge in Trading Volume

Zuari Industries Limited has experienced a significant increase in trading volume, prompting the National Stock Exchange of India to seek clarification from the company. In response, Zuari Industries stated that they have no information or announcements that might explain the recent surge in trading activity and are unaware of any specific reasons for the increase. The company assured that it regularly discloses all material events and information to the stock exchanges in compliance with regulatory requirements.

Zuari Industries Clarifies Recent Trading Volume Surge

Zuari Industries Limited addressed a query from the National Stock Exchange regarding the recent increase in trading volume of its securities. The company clarified that there are no undisclosed events or information that could have influenced the price or volume of its securities. Zuari Industries emphasized its adherence to regulatory requirements by regularly updating the stock exchanges with all relevant information.