Zodiac Energy Ltd
NSE: ZODIAC BSE: 543416Energy
Incorporated in 1992, Zodiac Energy Ltd is in the business of installing Solar Power Generation Plant[1]
₹285
52W: ₹204 — ₹563
PE 21.7 · Book ₹66.8 · +327% vs bookMarket Cap₹431 Cr
Stock P/E21.7Price to Earnings
ROCE20%Return on Capital
ROE27.5%Return on Equity
Div. Yield0.26%Face Value ₹10
Strengths
- +Company is expected to give good quarter
- +Company has delivered good profit growth of 45.8% CAGR over last 5 years
- +Debtor days have improved from 97.0 to 51.1 days.
- +Company's median sales growth is 53.5% of last 10 years
Shareholding Pattern
Promoters69.97%
FIIs0.15%
DIIs0.2%
Public29.68%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 72.73% | 70.01%▼2.7 | 70.01% | 70.01% | 69.89%▼0.1 | 69.89% | 69.91%▲0.0 | 69.97%▲0.1 |
| FIIs | 0% | 1.46%▲1.5 | 1.32%▼0.1 | 0.91%▼0.4 | 0.54%▼0.4 | 0.54% | 0.33%▼0.2 | 0.15%▼0.2 |
| DIIs | 0% | 0.59%▲0.6 | 0.56%▼0.0 | 0.56% | 0.34%▼0.2 | 0.34% | 0.34% | 0.2%▼0.1 |
| Public | 27.27% | 27.93%▲0.7 | 28.11%▲0.2 | 28.52%▲0.4 | 29.22%▲0.7 | 29.22% | 29.42%▲0.2 | 29.68%▲0.3 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 34.41 | 46.92 | 106.63 | 79.34 | 52.77 | 104.33 | 171.34 | 98.05 | 96.78 | 137.56 |
| Expenses | 31.39 | 41.87 | 97.81 | 75.15 | 47.86 | 94 | 153.73 | 88.37 | 86.5 | 123.87 |
| Operating Profit | 3.02 | 5.05 | 8.82 | 4.19 | 4.91 | 10.33 | 17.61 | 9.68 | 10.28 | 13.69 |
| OPM % | 8.78% | 10.76% | 8.27% | 5.28% | 9.3% | 9.9% | 10.28% | 9.87% | 10.62% | 9.95% |
| Net Profit | 1.48 | 2.95 | 5.69 | 2.33 | 2.49 | 5.71 | 9.44 | 2.69 | 2.68 | 5.07 |
| EPS ₹ | 1.01 | 2.02 | 3.89 | 1.59 | 1.65 | 3.78 | 6.25 | 1.78 | 1.77 | 3.35 |
AI Insights
Revenue Trend
TTM revenue at ₹504Cr, up 23.5% YoY. OPM at 10%.
Debt Position
Borrowings at ₹178Cr. Debt-to-equity ratio: 2.07x. High leverage — monitor closely.
Capex Cycle
CWIP at ₹1Cr (1% of fixed assets). Moderate ongoing capital expenditure.
Institutional Flow
DIIs: 0.2% (+0.20pp change). FIIs: 0.15% (+0.15pp change). Promoters hold 69.97%.
Margin & Efficiency
ROCE improving from 9% (Mar 2014) to 20% (Mar 2025). Working capital days: 65.
Valuation
PE 21.7x with 20% ROCE. Price is 327% above book value of ₹66.8. Dividend yield: 0.26%.
Recent Announcements
- Board Meeting Intimation for Approval Of Audited Financial Result For The Quarter And Year Ended On March 31, 2026 2d - Board meets May 25, 2026 to approve FY26 audited results and consider final dividend.
- Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 29 Apr - Received ₹5.44 crore order on April 29, 2026 for 1.87 MWp solar plant in Rajkot, to execute in 6 months.
- Announcement under Regulation 30 (LODR)-Change in Directorate 23 Apr - Board approved Dhaval Shah’s change from Independent to Non-Independent Director, effective April 23, 2026.
- Board Meeting Outcome for Outcome Of Board Meeting Held On Today I.E. April 23, 2026 23 Apr - On April 23, 2026, Dhaval Shah’s role changed from independent to non-independent director, pending shareholder approval.
- Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 22 Apr - Received LOI for 6 MWp solar project in Zambia worth US$3.288 million, to execute within 9 months.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse