ZUARI

Zuari Agro Chemicals Limited

Holding company with stakes in fertilizer sector joint ventures

Commodities›Chemicals›Fertilizers & Agrochemicals›Fertilizers

zuari.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-19

Stock price
₹202.73
Market cap
853 Cr
Stock P/E
0.9
P/B
0.41
Dividend yield
1.0%
ROE (FY26)
44.0%
ROCE (FY26)
47.6%
Operating margin (FY26)
7.8%
Debt / equity (FY26)
0.31
OCF / EBITDA (FY26)
65.7%
OCF / EBITDA (3Y)
114.9%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Zuari Agro Chemicals sold its own fertiliser manufacturing in September 2025 and holds shares in Paradeep Phosphates.

Company snapshot

12thBy market cap

Ranked among 19 companies in Fertilizers.

What we see

Positives
  • ✓Net margin of 30.7% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales1,649 Cr843 Cr898 Cr1,097 Cr1,123 Cr1,264 Cr952 Cr1,246 Cr1,423 Cr344 Cr187 Cr615 Cr
Operating expenses (approx.)1,510 Cr768 Cr879 Cr979 Cr1,022 Cr1,148 Cr920 Cr1,105 Cr1,249 Cr334 Cr202 Cr556 Cr
EBITDA139 Cr75 Cr19 Cr118 Cr101 Cr117 Cr32 Cr141 Cr174 Cr9 Cr-14 Cr59 Cr
OPM %8.4%8.9%2.1%10.8%9.0%9.2%3.4%11.3%12.2%2.7%-7.7%9.6%
Other income23 Cr12 Cr127 Cr10 Cr17 Cr6 Cr22 Cr6 Cr5 Cr1 Cr8 Cr0.69 Cr
Interest55 Cr49 Cr51 Cr48 Cr44 Cr40 Cr36 Cr34 Cr32 Cr18 Cr17 Cr18 Cr
Depreciation23 Cr24 Cr25 Cr25 Cr25 Cr26 Cr25 Cr25 Cr25 Cr4 Cr5 Cr5 Cr
Profit before tax106 Cr45 Cr74 Cr56 Cr113 Cr101 Cr32 Cr154 Cr1,040 Cr30 Cr-25 Cr133 Cr
Tax %36.9%37.2%-4.3%47.7%17.7%19.9%16.2%17.4%19.2%-33.5%-0.3%11.0%
Net profit67 Cr29 Cr77 Cr29 Cr93 Cr81 Cr27 Cr127 Cr840 Cr40 Cr-25 Cr119 Cr
EPS (₹)₹15.83₹6.78₹17.87₹2.17₹19.30₹12.97₹4.72₹23.54₹191.68₹9.43₹-5.94₹28.17

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,407 Cr7,271 Cr8,103 Cr5,017 Cr2,404 Cr3,590 Cr4,553 Cr4,595 Cr4,436 Cr3,200 CrSign in free for the trailing twelve months
Operating expenses (approx.)5,936 Cr6,736 Cr7,788 Cr5,233 Cr2,198 Cr3,357 Cr4,221 Cr4,239 Cr4,068 Cr2,890 CrSign in free for the trailing twelve months
EBITDA471 Cr535 Cr315 Cr-216 Cr206 Cr233 Cr331 Cr356 Cr368 Cr309 CrSign in free for the trailing twelve months
OPM %7.3%7.4%3.9%-4.3%8.6%6.5%7.3%7.8%8.3%9.7%Sign in free for the trailing twelve months
Other income56 Cr87 Cr46 Cr50 Cr62 Cr61 Cr95 Cr177 Cr54 Cr20 CrSign in free for the trailing twelve months
Interest440 Cr404 Cr488 Cr535 Cr200 Cr173 Cr205 Cr211 Cr168 Cr101 CrSign in free for the trailing twelve months
Depreciation77 Cr83 Cr87 Cr111 Cr68 Cr67 Cr79 Cr95 Cr102 Cr59 CrSign in free for the trailing twelve months
Profit before tax-22 Cr181 Cr-148 Cr-729 Cr-88 Cr218 Cr668 Cr251 Cr303 Cr1,199 CrSign in free for the trailing twelve months
Tax %40.3%12.9%-4.6%-5.0%-43.8%21.7%19.3%31.8%23.8%18.1%Sign in free for the trailing twelve months
Net profit-13 Cr157 Cr-155 Cr-766 Cr-126 Cr171 Cr539 Cr171 Cr231 Cr982 CrSign in free for the trailing twelve months
EPS (₹)₹-5.22₹30.67₹-40.56₹-190.68₹-37.35₹31.02₹113.33₹23.73₹39.17₹218.70Sign in free for the trailing twelve months
Dividend payout %—————3.2%1.4%4.8%3.5%0.8%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr42 Cr
Reserves1,325 Cr1,434 Cr1,228 Cr299 Cr154 Cr325 Cr1,539 Cr1,652 Cr1,814 Cr2,047 Cr
Borrowings4,123 Cr4,354 Cr4,934 Cr2,834 Cr1,448 Cr2,643 Cr2,108 Cr1,783 Cr717 Cr642 Cr
Other liabilities1,743 Cr2,097 Cr2,805 Cr2,973 Cr3,285 Cr2,775 Cr830 Cr747 Cr1,792 Cr519 Cr
Total liabilities7,597 Cr8,318 Cr9,409 Cr6,563 Cr5,372 Cr6,262 Cr5,052 Cr4,820 Cr5,026 Cr3,251 Cr
Fixed assets (net)1,659 Cr1,667 Cr1,707 Cr1,740 Cr1,313 Cr1,309 Cr1,828 Cr1,848 Cr753 Cr134 Cr
CWIP143 Cr147 Cr154 Cr168 Cr78 Cr320 Cr19 Cr14 Cr5 Cr0 Cr
Investments878 Cr922 Cr936 Cr859 Cr955 Cr1,130 Cr1,246 Cr69 Cr1,428 Cr2,584 Cr
Loans & advances——1 Cr1 Cr0.11 Cr0 Cr0 Cr0 Cr0.01 Cr0 Cr
Inventories707 Cr1,051 Cr1,765 Cr549 Cr222 Cr504 Cr399 Cr316 Cr172 Cr268 Cr
Trade receivables3,461 Cr3,448 Cr3,906 Cr2,219 Cr454 Cr634 Cr780 Cr598 Cr86 Cr90 Cr
Cash & bank66 Cr147 Cr50 Cr265 Cr427 Cr566 Cr389 Cr338 Cr173 Cr33 Cr
Other assets683 Cr936 Cr889 Cr762 Cr1,922 Cr1,800 Cr390 Cr1,637 Cr2,409 Cr142 Cr
Total assets7,597 Cr8,318 Cr9,409 Cr6,563 Cr5,372 Cr6,262 Cr5,052 Cr4,820 Cr5,026 Cr3,251 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity1,097 Cr293 Cr-355 Cr—1,521 Cr571 Cr95 Cr473 Cr511 Cr203 Cr
Cash from investing-40 Cr-62 Cr-103 Cr—-171 Cr-137 Cr426 Cr3 Cr-122 Cr-69 Cr
Cash from financing-1,003 Cr-149 Cr360 Cr—-1,188 Cr-296 Cr-697 Cr-527 Cr-494 Cr-335 Cr
Net cash flow54 Cr82 Cr-97 Cr—162 Cr138 Cr-176 Cr-51 Cr-104 Cr-201 Cr
Free cash flow (OCF − Capex)951 Cr221 Cr-502 Cr—1,441 Cr344 Cr-222 Cr329 Cr407 Cr44 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %7.1%9.4%5.1%-5.4%5.4%11.2%20.7%11.3%14.6%47.6%
ROE %-1.3%8.4%-10.2%-106.2%-24.6%15.4%22.5%4.4%6.5%44.0%
Debtor days19717317516169646247710
Inventory days8611014682739366583389
Days payable13115816229413410980623078
Cash conversion cycle151125160-5174948431022
OCF / EBITDA %233.0%54.7%-112.7%—739.2%245.0%28.6%132.8%138.9%65.7%
OCF / EBITDA % (3 years)——78.4%———284.0%123.7%102.2%114.9%
Debt / equity3.022.953.898.317.387.201.331.050.390.31
Current ratio——0.910.670.760.670.810.780.500.52
Net debt / EBITDA8.62—15.52—4.968.915.194.061.481.97