Zenith Exports Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of Zenith Exports Ltd?

Zenith Exports Ltd is trading at 218.00 as of 28 April 2026, with a FY2026-2027 high of 352 and low of 174. The stock is currently near its 52-week low. Market cap stands at 118 Cr..

Q: Is Zenith Exports Ltd financially healthy?

Key indicators: ROCE of 1.46 % is on the lower side. Dividend yield is 0.00 %.

Q: Is Zenith Exports Ltd profitable and how is the profit trend?

Zenith Exports Ltd reported a net profit of 2 Cr in Mar 2025 on revenue of 72 Cr. Compared to 1 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹228.72Fairly Valued by 4.92%vs CMP ₹218.00

P/E (60.7) × ROE (3.0%) × BV (₹156.00) × DY (2.00%)

₹194.27Overvalued by 10.89%vs CMP ₹218.00

MoS: -12.2% (Negative)Confidence: 50/100 (Moderate)Models: 1 Under, 1 Fair, 5 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹320.03	28%	Under (+46.8%)
Graham Number	Earnings	₹187.63	20%	Over (-13.9%)
Earnings Power	Earnings	₹15.74	13%	Over (-92.8%)
DCF	Cash Flow	₹239.58	13%	Fair (+9.9%)
Net Asset Value	Assets	₹155.78	9%	Over (-28.5%)
Earnings Yield	Earnings	₹100.30	9%	Over (-54%)
Revenue Multiple	Revenue	₹133.20	7%	Over (-38.9%)
Consensus (7 models)		₹194.27	100%	Overvalued

Key Drivers: EPS CAGR 39.9% lifts DCF — verify sustainability. | ROE 3.0% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 39.9%

*Investments are subject to market risks

Analyst Summary

Zenith Exports Ltd operates in the Leather/Synthetic Products segment, NSE: ZENITHEXPO | BSE: 512553, current market price is ₹218.00, market cap is 118 Cr.. At a glance, stock P/E is 60.7, ROE is 2.96 %, ROCE is 1.46 %, book value is 156, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹194.27, around 10.9% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹72 Cr versus the prior period change of -11.7%, while latest net profit is about ₹2 Cr with a prior-period change of 470.0%. The 52-week range shown on this page is 352/174, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisZenith Exports Ltd. is a Public Limited Listed company incorporated on 23/07/1981 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L2…

This summary is generated from the stock page data available for Zenith Exports Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Zenith Exports Ltd scores 40/100 (Weak)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health54/100 · Moderate

ROCE 1.5% WeakROE 3.0% WeakD/E 0.10 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent

Smart Money50/100 · Moderate

Promoter holding at 45.6% Stable

Earnings Quality30/100 · Weak

OPM contracting (0% → -3%) DecliningWorking capital: 171 days Capital intensive

Quarterly Momentum40/100 · Moderate

Revenue (4Q): 2% YoY FlatOPM: -1.6% (down 3.3% YoY) Margin pressure

Industry Rank20/100 · Weak

P/E 60.7 vs industry 32.9 Premium to peersROCE 1.5% vs industry 6.8% Below peers3Y sales CAGR: -7% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 26, 2026, 12:38 am

Market Cap	118 Cr.
Current Price	218
Intrinsic Value	₹194.27
High / Low	352/174
Stock P/E	60.7
Book Value	156
Dividend Yield	0.00 %
ROCE	1.46 %
ROE	2.96 %
Face Value	10.0
PEG Ratio	1.52

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Zenith Exports Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Zenith Exports Ltd	118 Cr.	218	352/174	60.7	156	0.00 %	1.46 %	2.96 %	10.0
Anka India Ltd	134 Cr.	26.0	71.1/18.6		5.23	0.00 %	%	%	10.0
Superhouse Ltd	169 Cr.	154	202/128	27.6	418	0.52 %	3.90 %	1.19 %	10.0
Sreeleathers Ltd – a Premier Leather Goods Manufacturer	414 Cr.	179	283/165	17.0	209	0.56 %	7.31 %	5.14 %	10.0
Mirza International Ltd	447 Cr.	32.4	44.0/24.8		41.7	0.00 %	1.00 %	0.78 %	2.00
Industry Average	682.29 Cr	183.23		32.91	135.72	0.18%	6.81%	4.43%	8.00

All Competitor Stocks of Zenith Exports Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	12.88	14.62	21.05	22.41	18.37	19.87	16.54	16.10	18.57	20.89	17.90	19.51	14.17
Expenses	14.12	13.43	20.68	21.97	19.24	21.07	16.74	19.48	18.24	22.13	16.61	19.31	14.39
Operating Profit	-1.24	1.19	0.37	0.44	-0.87	-1.20	-0.20	-3.38	0.33	-1.24	1.29	0.20	-0.22
OPM %	-9.63%	8.14%	1.76%	1.96%	-4.74%	-6.04%	-1.21%	-20.99%	1.78%	-5.94%	7.21%	1.03%	-1.55%
Other Income	2.12	0.94	0.70	0.89	1.05	1.20	0.84	1.07	1.00	5.64	1.02	1.20	0.87
Interest	0.17	0.20	0.26	0.29	0.17	0.18	0.21	0.24	0.21	0.18	0.22	0.16	0.16
Depreciation	0.33	0.32	0.24	0.25	0.25	0.28	0.21	0.19	0.21	0.21	0.16	0.15	0.17
Profit before tax	0.38	1.61	0.57	0.79	-0.24	-0.46	0.22	-2.74	0.91	4.01	1.93	1.09	0.32
Tax %	13.16%	18.63%	31.58%	32.91%	-16.67%	-8.70%	36.36%	-23.36%	26.37%	25.19%	27.46%	22.94%	46.88%
Net Profit	0.33	1.31	0.39	0.53	-0.20	-0.42	0.14	-2.10	0.67	3.00	1.40	0.84	0.17
EPS in Rs	0.61	2.43	0.72	0.98	-0.37	-0.78	0.26	-3.89	1.24	5.56	2.59	1.56	0.32

Last Updated: March 3, 2026, 1:44 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 12:16 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	315.52	266.46	242.51	128.61	109.52	98.54	82.82	50.71	90.54	62.25	81.68	72.10	72.47
Expenses	299.94	261.81	240.26	133.21	113.84	99.01	87.11	52.90	90.16	62.39	82.57	76.31	72.44
Operating Profit	15.58	4.65	2.25	-4.60	-4.32	-0.47	-4.29	-2.19	0.38	-0.14	-0.89	-4.21	0.03
OPM %	4.94%	1.75%	0.93%	-3.58%	-3.94%	-0.48%	-5.18%	-4.32%	0.42%	-0.22%	-1.09%	-5.84%	0.04%
Other Income	1.20	6.40	4.55	3.58	5.31	-6.02	5.61	3.51	3.48	4.51	3.81	8.56	8.73
Interest	7.49	6.69	3.28	0.31	1.36	1.65	1.36	1.28	1.22	1.07	1.24	1.13	0.72
Depreciation	6.46	4.56	3.49	1.42	1.41	1.63	1.69	1.64	1.28	1.30	1.01	0.82	0.69
Profit before tax	2.83	-0.20	0.03	-2.75	-1.78	-9.77	-1.73	-1.60	1.36	2.00	0.67	2.40	7.35
Tax %	40.99%	-140.00%	-400.00%	-24.36%	5.06%	-19.34%	-17.34%	-19.38%	25.74%	21.00%	53.73%	28.75%
Net Profit	1.67	0.08	0.16	-2.08	-1.88	-7.87	-1.43	-1.30	1.01	1.58	0.30	1.71	5.41
EPS in Rs	3.09	0.15	0.30	-3.85	-3.48	-14.58	-2.65	-2.41	1.87	2.93	0.56	3.17	10.03
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-95.21%	100.00%	-1400.00%	9.62%	-318.62%	81.83%	9.09%	177.69%	56.44%	-81.01%	470.00%
Change in YoY Net Profit Growth (%)	0.00%	195.21%	-1500.00%	1409.62%	-328.23%	400.45%	-72.74%	168.60%	-121.26%	-137.45%	551.01%

Zenith Exports Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	-12%
5 Years:	-3%
3 Years:	-7%
TTM:	-5%

Compounded Profit Growth
10 Years:	%
5 Years:	-4%
3 Years:	%
TTM:	-1100%

Stock Price CAGR
10 Years:	18%
5 Years:	50%
3 Years:	54%
1 Year:	21%

Return on Equity
10 Years:	-1%
5 Years:	0%
3 Years:	-1%
Last Year:	-3%

Last Updated: September 5, 2025, 1:56 pm

Balance Sheet

Last Updated: December 4, 2025, 2:14 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40	5.40
Reserves	91.53	86.41	86.57	84.48	82.77	74.86	73.29	71.78	72.76	74.33	74.86	76.57	78.92
Borrowings	35.67	31.63	12.63	6.80	11.30	13.02	8.27	7.79	13.81	9.47	5.54	7.76	3.05
Other Liabilities	28.49	13.45	16.43	13.76	11.93	14.26	12.27	10.80	9.55	10.81	10.10	11.15	10.02
Total Liabilities	161.09	136.89	121.03	110.44	111.40	107.54	99.23	95.77	101.52	100.01	95.90	100.88	97.39
Fixed Assets	40.82	29.16	22.89	20.69	17.96	15.59	14.61	12.98	12.12	10.24	9.26	11.30	11.51
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.05	0.00	0.56
Investments	0.21	0.01	0.01	4.08	17.56	2.00	0.00	0.17	0.54	0.85	1.32	1.51	8.57
Other Assets	120.06	107.72	98.13	85.67	75.88	89.95	84.62	82.62	88.86	88.92	85.27	88.07	76.75
Total Assets	161.09	136.89	121.03	110.44	111.40	107.54	99.23	95.77	101.52	100.01	95.90	100.88	97.39

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	7.93	6.83	19.21	11.67	7.99	-8.87	16.90	2.52	-14.98	19.23	-6.57	-3.03
Cash from Investing Activity +	-1.40	0.42	3.57	-2.59	-12.03	15.61	-10.30	1.18	11.47	-15.55	17.03	-3.98
Cash from Financing Activity +	-3.23	-9.64	-21.42	-6.14	3.64	0.40	-5.75	-1.52	5.14	-4.98	-4.84	1.38
Net Cash Flow	3.30	-2.39	1.37	2.94	-0.39	7.15	0.85	2.18	1.63	-1.31	5.62	-5.63
Free Cash Flow	6.44	6.58	22.52	12.40	8.73	-9.22	16.66	2.51	-15.40	20.84	-6.89	-1.14
CFO/OP	61%	173%	867%	-257%	-189%	1,860%	-401%	-131%	-3,895%	-13,857%	710%	65%

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-20.09	-26.98	-10.38	-11.40	-15.62	-13.49	-12.56	-9.98	-13.43	-9.61	-6.43	-11.97

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	19.32	29.42	51.85	63.06	56.22	50.67	57.65	67.16	55.59	54.30	64.21	89.10
Inventory Days	110.71	114.67	90.68	140.77	169.01	269.17	184.97	356.13	238.18	290.24	208.73	200.32
Days Payable	19.64	6.02	13.98	24.79	17.94	37.72	41.33	70.19	31.12	62.40	42.27	47.19
Cash Conversion Cycle	110.38	138.07	128.55	179.05	207.29	282.13	201.29	353.10	262.65	282.13	230.68	242.23
Working Capital Days	52.16	73.01	91.71	139.12	133.94	160.13	132.13	196.00	154.24	144.77	161.68	170.70
ROCE %	7.95%	4.81%	2.53%	-1.62%	-0.81%	-0.72%	-1.11%	0.15%	2.89%	2.23%	2.22%	-1.46%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	51.75%	51.75%	51.75%	51.75%	45.55%	45.55%	45.55%	45.55%	45.55%	45.55%	45.55%	45.55%
Public	48.25%	48.25%	48.25%	48.24%	54.45%	54.45%	54.45%	54.45%	54.46%	54.46%	54.46%	54.46%
No. of Shareholders	2,287	2,223	2,144	2,230	2,323	2,590	2,409	2,370	2,445	2,415	2,527	2,466

Shareholding Pattern Chart

No. of Shareholders

Zenith Exports Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	3.17	0.56	2.92	1.87	-2.40
Diluted EPS (Rs.)	3.17	0.56	2.92	1.87	-2.40
Cash EPS (Rs.)	4.69	2.44	5.34	4.25	0.63
Book Value[Excl.RevalReserv]/Share (Rs.)	151.90	148.72	147.75	144.84	143.02
Book Value[Incl.RevalReserv]/Share (Rs.)	151.90	148.72	147.75	144.84	143.02
Revenue From Operations / Share (Rs.)	133.62	151.39	115.36	167.79	93.96
PBDIT / Share (Rs.)	-0.76	4.79	7.33	6.52	2.83
PBIT / Share (Rs.)	-2.27	2.91	4.91	4.14	-0.21
PBT / Share (Rs.)	4.46	1.23	3.71	2.51	-2.97
Net Profit / Share (Rs.)	3.17	0.56	2.92	1.87	-2.40
PBDIT Margin (%)	-0.56	3.16	6.35	3.88	3.00
PBIT Margin (%)	-1.70	1.92	4.25	2.46	-0.22
PBT Margin (%)	3.33	0.81	3.21	1.49	-3.16
Net Profit Margin (%)	2.37	0.37	2.53	1.11	-2.55
Return on Networth / Equity (%)	2.08	0.37	1.97	1.28	-1.68
Return on Capital Employeed (%)	-1.45	1.90	3.25	2.79	-0.14
Return On Assets (%)	1.69	0.31	1.57	0.99	-1.35
Total Debt / Equity (X)	0.09	0.06	0.11	0.17	0.10
Asset Turnover Ratio (%)	0.73	0.83	0.61	0.91	0.51
Current Ratio (X)	4.74	5.52	3.88	3.81	4.30
Quick Ratio (X)	3.31	3.47	2.38	1.96	2.64
Inventory Turnover Ratio (X)	2.78	1.23	0.89	1.09	1.01
Interest Coverage Ratio (X)	-0.48	2.85	6.08	3.99	1.47
Interest Coverage Ratio (Post Tax) (X)	-2.27	1.33	3.43	2.14	0.18
Enterprise Value (Cr.)	93.89	71.54	25.80	43.32	15.65
EV / Net Operating Revenue (X)	1.30	0.87	0.41	0.47	0.30
EV / EBITDA (X)	-228.89	27.70	6.53	12.31	10.25
MarketCap / Net Operating Revenue (X)	1.59	1.12	0.72	0.57	0.72
Price / BV (X)	1.40	1.14	0.56	0.66	0.47
Price / Net Operating Revenue (X)	1.59	1.12	0.72	0.57	0.72
EarningsYield	0.01	0.00	0.03	0.01	-0.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Zenith Exports Ltd. is a Public Limited Listed company incorporated on 23/07/1981 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L24294WB1981PLC033902 and registration number is 033902. Currently Company is involved in the business activities of Manufacture of luggage, handbags and the like, saddlery and harness. Company's Total Operating Revenue is Rs. 72.10 Cr. and Equity Capital is Rs. 5.40 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Leather/Synthetic Products	19, Rajendra Nath Mukherjee Road, Kolkata West Bengal 700001	Contact not found

Management
Name	Position Held
Mr. Varun Loyalka	Managing Director
Mrs. Urmila Loyalka	Woman Director
Mr. Rabindra Kumar Sarawgee	Ind. Non-Executive Director
Mr. Surendra Bafna	Ind. Non-Executive Director
Mr. Kamal Koomar Jain	Ind. Non-Executive Director
Mr. Sanjay Kumar Shaw	Ind. Non-Executive Director

FAQ

What is the intrinsic value of Zenith Exports Ltd and is it undervalued?

As of 28 April 2026, Zenith Exports Ltd's intrinsic value is ₹194.27, which is 10.89% lower than the current market price of ₹218.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (2.96 %), book value (₹156), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Zenith Exports Ltd?

Zenith Exports Ltd is trading at ₹218.00 as of 28 April 2026, with a FY2026-2027 high of ₹352 and low of ₹174. The stock is currently near its 52-week low. Market cap stands at ₹118 Cr..

How does Zenith Exports Ltd's P/E ratio compare to its industry?

Zenith Exports Ltd has a P/E ratio of 60.7, which is above the industry average of 32.91. The premium over industry average may reflect growth expectations or speculative interest.

Is Zenith Exports Ltd financially healthy?

Key indicators for Zenith Exports Ltd: ROCE of 1.46 % is on the lower side compared to the industry average of 6.81%; ROE of 2.96 % is below ideal levels (industry average: 4.43%). Dividend yield is 0.00 %.

Is Zenith Exports Ltd profitable and how is the profit trend?

Zenith Exports Ltd reported a net profit of ₹2 Cr in Mar 2025 on revenue of ₹72 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows an improving trend.

Does Zenith Exports Ltd pay dividends?

Zenith Exports Ltd has a dividend yield of 0.00 % at the current price of ₹218.00. The company is currently not paying meaningful dividends.