Z-Tech (India) Ltd

Q1 FY27Other Utilities

Z-Tech (India) Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book

Q1 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹490

Market cap₹752 Cr

P/E21.0

Updated26 Aug 2026

Read4 min read

What the Q1 FY27 call signalled

3 of 4 strong

RevenueRank 1

MarginRank 3

CapexYes

Order bookYes

Not discussed on this call: fundraise.

The short version

Z-Tech aims to double its Park business revenue annually for the next 3 to 5 years, targeting INR300-350 crores from Parks alone in FY28. Q1 FY27 PAT grew 33.22% Y-o-Y to INR4.05 crores; PAT margin at 13.90% vs 14.84% last year.

From Z-Tech (India) Ltd's Q1 FY27 earnings-call transcript · updated 26 Aug 2026.

Revenue & Sales Performance

Rank 1

Z-Tech aims to double its Park business revenue annually for the next 3 to 5 years, targeting INR300-350 crores from Parks alone in FY28.
Total revenues across all businesses are anticipated to reach INR450-500 crores in FY28, including a 50% growth in engineered/geotech verticals.
The company targets around 25 to 30 operational parks by end of FY27, up from 8 parks at the end of FY26.
Recurring revenue from park operations is expected to increase from around 25% in FY27 to stabilize around 60% within 3 years.
Geotech business is expected to double its order book and revenue in the current year, contributing around INR75 crores by FY27.
Overall revenue guidance for FY27 is approximately INR250 crores, including INR75 crores from geotech and water businesses, with the remainder from parks.
Z-Tech intends to strengthen recurring revenues via ticketing, F&B, events, and other activities at parks.

Profitability & Margins

Q1 FY27 PAT grew 33.22% Y-o-Y to INR4.05 crores; PAT margin at 13.90% vs 14.84% last year.
Basic EPS increased to INR2.79 vs INR2.12 last year.
EBITDA margin expected to improve 1-2% in FY27 with more recurring revenue, targeting >35-40% in the future.
Revenue guidance for FY27: INR250+ crores total; INR75 crores from geotech and water, rest from Parks.
Park business revenue expected around INR130-170 crores this year with 25% recurring revenue share, rising to 40% next year and stabilizing at ~60% within 3 years.
Operating leverage anticipated as recurring revenue hits 35-40% by FY27-28, enabling self-reliant capital funding.
Profit before tax increased 27.10% Y-o-Y to INR6.05 crores in Q1 FY27.
Overall growth target: doubling Park business revenue annually for the next 3-5 years, aiming INR450-500 crores total revenue in subsequent year.

See what Z-Tech (India) Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Yes

- The Lucknow park involved a higher-than-usual investment from Z-Tech, about 50% of project cost, as a one-off due to strategic location advantage and flexible contract terms. - Generally, Z-Tech's investment ranges around 26% for other parks. - The company is exploring a new franchise-based model where landowners provide land and capital, and Z-Tech operates the parks; this aims to reduce dependency on government land and capital. - They plan to start at least one park under this new model within the current year (FY27). - Z-Tech continues to evaluate acquisition opportunities but currently has no active acquisition plans after backing out from a water body technology acquisition. - The company expects to become more self-reliant in funding capital needs by FY27-28 when recurring revenue reaches 35%-40%. Overall, capex decisions are strategic and location-dependent, with evolving models to reduce external dependence.

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

There is no specific mention of any current or planned new fundraising through debt or equity in the provided transcript.
The company is focusing on becoming self-reliant in capital by FY27-28, aiming to fund most capital needs internally once recurring revenue reaches 35%-40%.
They expect to be in a sufficient cash-generating position by then, reducing dependency on external debt or investments.
Sunil Ghorawat mentioned continuous evaluation of acquisition opportunities but currently, no acquisition is on the horizon.
The company is exploring new business models such as franchise-based parks to reduce dependency on government land and capital.
Overall, the emphasis is on organic growth and operational leverage rather than raising new external funds at present.

See what Z-Tech (India) Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Yes

Total inquiry funnel across all businesses (Parks, Geotech, Water): ~INR 1,500+ crores. (Page 9)
Park order booking intake planned for the year: ~INR 320 crores; bids in pipeline for parks: INR 450 crores. (Page 9)
Additional bids in geosynthetics for landslides and flood embankment projects ongoing. (Page 9)
Total order book visibility includes:
- 9 operational parks
- 4 parks ready for inauguration (total 13)
- 7 parks under construction (total 20)
- 3 parks at award stage (total 23) (Page 9)
Around 11 parks in tendering stage; likely some awards in next month to reach ~30 parks by end of FY27. (Page 9)

Z-Tech (India) Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹59 Cr, net profit ₹19 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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Frequently Asked Questions

What were Z-Tech (India) Ltd Q1 FY27 results?

What is Z-Tech (India) Ltd share price analysis?

Z-Tech (India) Ltd currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 21.0 with a market cap of ₹752 Cr. Investors should review the full earnings analysis for detailed insights.

Is Z-Tech (India) Ltd planning capital expenditure?

The Lucknow park involved a higher-than-usual investment from Z-Tech, about 50% of project cost, as a one-off due to strategic location advantage and flexible contract terms.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.