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Last Updated: April 2, 2026, 3:58 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 534742 | NSE: ZUARI

Zuari Agro Chemicals Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹110.82Overvalued by 43.46%vs CMP ₹196.00

P/E (2.5) × ROE (9.1%) × BV (₹602.00) × DY (2.00%)

₹1,420.69Undervalued by 624.84%vs CMP ₹196.00
MoS: +86.2% (Strong)Confidence: 63/100 (Moderate)Models: 8 Under, 1 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹165.3623%Over (-15.6%)
Graham NumberEarnings₹1,762.6217%Under (+799.3%)
Earnings PowerEarnings₹394.4811%Under (+101.3%)
DCFCash Flow₹5,881.4311%Under (+2900.7%)
Net Asset ValueAssets₹600.347%Under (+206.3%)
EV/EBITDAEnterprise₹767.159%Under (+291.4%)
Earnings YieldEarnings₹2,293.707%Under (+1070.3%)
ROCE CapitalReturns₹970.179%Under (+395%)
Revenue MultipleRevenue₹526.316%Under (+168.5%)
Consensus (9 models)₹1,420.69100%Undervalued
Key Drivers: EPS CAGR 49.2% lifts DCF — verify sustainability. | Wide model spread (₹165–₹5,881) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 49.2%

*Investments are subject to market risks

Investment Snapshot

56
Zuari Agro Chemicals Ltd scores 56/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health52/100 · Moderate
ROCE 12.7% GoodROE 9.1% AverageD/E 7.38 High debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money70/100 · Strong
FII holding up 1.38% (6mo) AccumulatingPromoter holding at 65.2% Stable
Earnings Quality60/100 · Moderate
OPM stable around 9% SteadyWorking capital: -165 days (improving) Efficient
Quarterly Momentum45/100 · Moderate
Revenue (4Q): -10% YoY DecliningProfit (4Q): +269% YoY StrongOPM: 3.0% (down 6.0% YoY) Margin pressure
Industry Rank60/100 · Moderate
P/E 2.5 vs industry 192.6 Cheaper than peersROCE 12.7% vs industry 13.0% Average3Y sales CAGR: 7% Slow

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 2, 2026, 3:58 am

Market Cap 826 Cr.
Current Price 196
Intrinsic Value₹1,420.69
High / Low 395/166
Stock P/E2.49
Book Value 602
Dividend Yield0.00 %
ROCE12.7 %
ROE9.06 %
Face Value 10.0
PEG Ratio0.05

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

View Share Price Target for Zuari Agro Chemicals Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Zuari Agro Chemicals Ltd 826 Cr. 196 395/1662.49 6020.00 %12.7 %9.06 % 10.0
Madras Fertilizers Ltd 938 Cr. 58.2 107/52.2132 1.530.00 %10.8 %% 10.0
Aries Agro Ltd 443 Cr. 341 460/23710.2 2460.35 %18.4 %12.3 % 10.0
Southern Petrochemicals Industries Corporation Ltd (SPIC) 1,243 Cr. 61.0 128/55.06.17 63.83.28 %16.9 %13.8 % 10.0
Nagarjuna Fertilizers & Chemicals Ltd 219 Cr. 3.67 6.54/3.12 15.70.00 %%% 1.00
Industry Average9,736.35 Cr342.44192.60185.721.19%13.03%10.58%6.96

All Competitor Stocks of Zuari Agro Chemicals Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,4161,3391,2051,6498438981,0971,1231,2649521,2461,423344
Expenses 1,2821,2081,1161,5107688799781,0221,1489201,1051,249334
Operating Profit 134131901397519118101117321411749
OPM % 9%10%7%8%9%2%11%9%9%3%11%12%3%
Other Income 63-629154543131128151617292343
Interest 56545755495148444036343218
Depreciation 2221232324252525262525254
Profit before tax 119-57325106457456113101321541,04030
Tax % 13%-25%106%37%37%-4%48%18%20%16%17%19%-34%
Net Profit 104-427-26729772993812712784040
EPS in Rs 16.46-108.99-5.778.443.1917.872.1819.3112.974.7223.54191.689.43

Last Updated: March 3, 2026, 1:42 pm

Quarterly Chart

Profit & Loss - Annual Report

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

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 7,3027,6137,6116,3777,2658,1033,0422,4043,5904,5534,5954,4363,964
Expenses 7,0927,3137,3345,9056,7227,7833,3822,3693,3514,2154,2334,0583,608
Operating Profit 210300277472542320-34035239338362378356
OPM % 3%4%4%7%7%4%-11%1%7%7%8%9%9%
Other Income 138715023113-111241462206161951951,100
Interest 380318419440404488278200173207211168120
Depreciation 343066778387686867799510279
Profit before tax -6623-157-22169-266-562-882186682513031,256
Tax % -14%29%-22%-40%14%3%37%44%22%19%32%24%
Net Profit -5714-123-13146-273-773-1261715391712311,035
EPS in Rs -10.522.13-27.40-5.2227.91-68.57-190.74-37.3531.01113.3323.7439.18229.37
Dividend Payout % -29%94%-7%-19%0%0%0%0%0%0%8%5%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)124.56%-978.57%89.43%1223.08%-286.99%-183.15%83.70%235.71%215.20%-68.27%35.09%
Change in YoY Net Profit Growth (%)0.00%-1103.13%1068.00%1133.65%-1510.06%103.84%266.85%152.01%-20.51%-283.48%103.36%

Zuari Agro Chemicals 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:-5%
5 Years:8%
3 Years:7%
TTM:2%
Compounded Profit Growth
10 Years:34%
5 Years:17%
3 Years:7%
TTM:91%
Stock Price CAGR
10 Years:7%
5 Years:28%
3 Years:17%
1 Year:53%
Return on Equity
10 Years:-5%
5 Years:6%
3 Years:8%
Last Year:9%

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

Balance Sheet

Last Updated: February 1, 2026, 2:11 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 42424242424242424242424242
Reserves 9759651,3051,3251,4231,1102991543251,5391,6521,8142,488
Borrowings 3,7473,4345,0474,2994,5065,2353,3681,8512,6432,1081,783717607
Other Liabilities 1,2841,6781,6171,9142,2792,8862,8453,2973,2011,3611,3342,453939
Total Liabilities 6,0486,1188,0117,5808,2509,2736,5545,3446,2115,0504,8115,0264,076
Fixed Assets 4504881,8291,7931,7981,8351,8621,4311,4241,9401,957865161
CWIP 28242410214314715416878320192370
Investments 2062097748789118158559521,1261,2421,2701,4252,879
Other Assets 5,1114,9985,3064,7675,3956,4693,6682,8833,3411,8481,5612,7291,037
Total Assets 6,0486,1188,0117,5808,2509,2736,5545,3446,2115,0504,8115,0264,076

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 919839-8691,097293-3552,6351,52157195473511
Cash from Investing Activity + -149-286-489-40-63-103-16-171-1374263-122
Cash from Financing Activity + -952-5471,363-1,003-148360-2,404-1,188-296-697-527-494
Net Cash Flow -182655482-98215162138-176-51-104
Free Cash Flow 854654-1,019952221-5022,5561,449344-150453433
CFO/OP 450%282%-307%240%58%-110%-777%4,344%249%44%160%152%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow207.00297.00272.00468.00538.00315.00-343.0034.00237.00336.00361.00-339.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 188159197198170176266696463487
Inventory Days 5561455674107945278473823
Days Payable 457054861021183399691574121
Cash Conversion Cycle 19814918816814216422255253459
Working Capital Days 151-33-50-44-31-250-304-224-68-62-165
ROCE %5%7%5%8%10%5%-5%3%13%10%8%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 65.28%65.28%65.28%65.28%65.28%65.28%65.21%65.21%65.21%65.21%65.21%65.20%
FIIs 1.13%1.09%1.02%1.58%1.27%1.08%1.18%2.52%1.33%2.67%2.85%2.71%
DIIs 1.00%1.00%1.00%1.00%1.00%0.09%0.09%0.09%0.09%0.09%0.09%0.09%
Public 32.58%32.62%32.70%32.13%32.46%33.55%33.51%32.18%33.37%32.03%31.85%32.00%
No. of Shareholders 30,99631,69732,12733,84537,65539,75745,08444,27746,25744,89247,40545,524

Shareholding Pattern Chart

No. of Shareholders

Zuari Agro Chemicals Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HSBC Value Fund 381,818 0.08 9.35381,8182025-04-22 15:56:510%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 39.1823.74113.3331.01-37.35
Diluted EPS (Rs.) 39.1823.74113.3331.01-37.35
Cash EPS (Rs.) 43.3057.71123.5518.55-34.48
Book Value[Excl.RevalReserv]/Share (Rs.) 441.26544.43502.71200.78151.88
Book Value[Incl.RevalReserv]/Share (Rs.) 441.26544.43502.71200.78151.88
Revenue From Operations / Share (Rs.) 1054.751092.651082.46853.53571.53
PBDIT / Share (Rs.) 100.48126.87101.2869.8363.77
PBIT / Share (Rs.) 76.35104.3382.6253.7847.61
PBT / Share (Rs.) 36.3354.10139.2012.73-0.04
Net Profit / Share (Rs.) 19.1735.17104.882.51-50.64
NP After MI And SOA / Share (Rs.) 39.1723.74113.3331.01-37.35
PBDIT Margin (%) 9.5211.619.358.1811.15
PBIT Margin (%) 7.239.547.636.308.33
PBT Margin (%) 3.444.9512.851.490.00
Net Profit Margin (%) 1.813.219.680.29-8.86
NP After MI And SOA Margin (%) 3.712.1710.463.63-6.53
Return on Networth / Equity (%) 8.875.8930.1435.53-80.07
Return on Capital Employeed (%) 11.7514.8812.2115.2115.64
Return On Assets (%) 3.272.079.432.08-2.92
Long Term Debt / Equity (X) 0.070.250.351.383.03
Total Debt / Equity (X) 0.340.981.277.007.38
Asset Turnover Ratio (%) 0.900.930.800.010.00
Current Ratio (X) 1.170.790.810.680.65
Quick Ratio (X) 1.100.620.630.580.60
Inventory Turnover Ratio (X) 18.175.604.850.240.00
Dividend Payout Ratio (NP) (%) 4.960.000.000.000.00
Dividend Payout Ratio (CP) (%) 3.060.000.000.000.00
Earning Retention Ratio (%) 95.040.000.000.000.00
Cash Earning Retention Ratio (%) 96.940.000.000.000.00
Interest Coverage Ratio (X) 2.512.532.071.701.34
Interest Coverage Ratio (Post Tax) (X) 1.481.701.061.040.80
Enterprise Value (Cr.) 1854.532593.672628.932905.771663.70
EV / Net Operating Revenue (X) 0.410.560.570.800.69
EV / EBITDA (X) 4.394.866.179.896.20
MarketCap / Net Operating Revenue (X) 0.170.150.110.150.15
Retention Ratios (%) 95.030.000.000.000.00
Price / BV (X) 0.410.420.321.531.95
Price / Net Operating Revenue (X) 0.170.150.110.150.15
EarningsYield 0.210.140.930.23-0.41

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Zuari Agro Chemicals Ltd. is a Public Limited Listed company incorporated on 10/09/2009 and has its registered office in the State of Goa, India. Company's Corporate Identification Number(CIN) is L65910GA2009PLC006177 and registration number is 006177. Currently company belongs to the Industry of Fertilisers. Company's Total Operating Revenue is Rs. 47.80 Cr. and Equity Capital is Rs. 42.06 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
FertilisersJai Kisaan Bhawan, Goa Goa 403726Contact not found
Management
NamePosition Held
Mr. Saroj Kumar PoddarChairman & Non-Exe.Director
Mr. Nitin M KantakExecutive Director
Mr. Athar ShahabNon Executive Director
Mr. Akshay PoddarNon Executive Director
Mr. Dipankar ChatterjiIndependent Director
Mr. AmandeepIndependent Director
Ms. Reena SuraiyaIndependent Director
Mr. Sanjeev LallIndependent Director

FAQ

What is the intrinsic value of Zuari Agro Chemicals Ltd and is it undervalued?

As of 18 April 2026, Zuari Agro Chemicals Ltd's intrinsic value is ₹1420.69, which is 624.84% higher than the current market price of ₹196.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (9.06 %), book value (₹602), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Zuari Agro Chemicals Ltd?

Zuari Agro Chemicals Ltd is trading at ₹196.00 as of 18 April 2026, with a FY2026-2027 high of ₹395 and low of ₹166. The stock is currently near its 52-week low. Market cap stands at ₹826 Cr..

How does Zuari Agro Chemicals Ltd's P/E ratio compare to its industry?

Zuari Agro Chemicals Ltd has a P/E ratio of 2.49, which is below the industry average of 192.60. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Zuari Agro Chemicals Ltd financially healthy?

Key indicators for Zuari Agro Chemicals Ltd: ROCE of 12.7 % is moderate. Dividend yield is 0.00 %.

Is Zuari Agro Chemicals Ltd profitable and how is the profit trend?

Zuari Agro Chemicals Ltd reported a net profit of ₹231 Cr in Mar 2025 on revenue of ₹4,436 Cr. Compared to ₹171 Cr in Mar 2022, the net profit shows an improving trend.

Does Zuari Agro Chemicals Ltd pay dividends?

Zuari Agro Chemicals Ltd has a dividend yield of 0.00 % at the current price of ₹196.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Zuari Agro Chemicals Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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