Z-Tech (India) Ltd Q2 FY26 Earnings Analysis

Published 8 Jul 2026 | Market Cap: ₹752 Cr

Price

₹519

Market Cap

₹752 Cr

P/E Ratio

21.0

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.

Full financials →

Earnings Summary

FY 2026 expected to witness 70%+ revenue growth with geographical expansion and rising recurring income. Company targets PAT of INR35-40 crores for FY 2026; currently INR9 crores in H1, expecting INR27-32 crores in H2 to meet guidance.

📊 Revenue & Sales Performance

→FY 2026 expected to witness 70%+ revenue growth with geographical expansion and rising recurring income.
→By end of FY 2026, target to operate 15-20 parks, up from 4 parks last year, enhancing recurring revenue visibility.
→FY 2027 marked as a significant inflection point with 25-30 operational parks contributing to revenue stability and cash flow.
→Creative parks to contribute around 60-65% of business; geotechnical and water-related infrastructure to contribute 30-35%.
→Order book strong at INR 200+ crores with continued additions expected, supporting further revenue growth.
→Recurring revenues from ticketing, F&B, and events expected to contribute ~30% of revenue by FY 2027, rising to 40%+ medium term.
→Expanding into new markets (Maharashtra, Gujarat, Bihar, Telangana) to reduce seasonality risk and boost volumes.
→Near-term focus on accelerating pre-development, execution excellence, and selective market expansions.

📈 Profitability & Margins

→Company targets PAT of INR35-40 crores for FY 2026; currently INR9 crores in H1, expecting INR27-32 crores in H2 to meet guidance.
→Significant push to open 15-20 parks by March 2026, enhancing recurring revenue base.
→FY 2027 expected as an inflection point with 25-30 operational parks contributing to revenue stability and cash flows.
→Parks business revenue expected to grow with ticketing and events; INR30-40 crores from ticketing alone projected in FY 2027.
→Sustainable park-level margins around 20% anticipated once scale and operational leverage kick in.
→Order book growth and geographical expansion (Maharashtra, Gujarat, Telangana) support revenue growth over 70% in FY 2026.
→Construction and EPC contracts will ramp up, driving near-term revenue and profits.
→Inorganic opportunities and diversifications (water-body rejuvenation, geotech) to complement growth and profitability.

🏗️ Capital Expenditure Plans

→Z-Tech India is pushing significant capital investment in constructing 15-20 creative parks in FY 2026 to build a recurring revenue base by FY 2027.
→Major investment has gone into the Noida Jungle Trail Park, which is nearing readiness to open.
→The company is actively exploring acquisitions to complement and strengthen existing verticals, particularly in water-body rejuvenation and environmental sustainability for the Agua Division, with an acquisition expected to close soon.
→Recently raised funds are being deployed for acquisitions and working capital to support hyper-growth initiatives.
→Expansion into new markets such as Maharashtra, Gujarat, Bihar, Telangana, and southern India involves investment in project execution and park construction.
→Infrastructure investments include proprietary chemical recovery systems and relocation of operations to Vadodara for enhanced R&D and faster execution.
→Strategic demerger of the Theme Park and infrastructure/water business is under consideration to unlock shareholder value and sharpen business focus.

💰 Fundraising & Capital Structure

→The company completed a significant equity fundraising around six months prior to the report date, raising around INR100 crores.
→This fundraising was aimed at supporting hyper-growth initiatives, including acquisitions, working capital, and park expansions.
→The management expressed confidence in being well-capitalized due to the recent fundraising.
→No explicit mention of any new or future fundraising through debt or equity beyond this recent round was made in the provided transcript.
→The company is exploring acquisitions and aims to close deals soon but did not indicate the need for additional fundraising yet.

📋 Order Book & Pipeline

→Current total order book stands at approximately INR200 crores.
→Of this, around INR113 crores pertains to the theme park business.
→INR80 crores order book relates to geotechnical and water projects.
→Around INR173 crores worth of theme park orders expected to be finalized within three months.
→Additional INR50 crores worth of theme park orders expected to be finalized in the next 3 months (Q4).
→Geotech business is expected to add INR100+ crores worth of orders in next 4-5 months.
→Total expected orders to be added within 5 months is around INR300+ crores.
→Around 13 theme park orders worth ~INR100 crores won between April to September FY26.
→Out of INR113 crores theme park order book, approximately INR80 crores expected to be executed by year-end (excludes long-term maintenance contracts).

Key Metrics

Frequently Asked Questions

What were Z-Tech (India) Ltd Q2 FY26 results?

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

Z-Tech (India) Ltd currently shows a neutral. 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?

Z-Tech India is pushing significant capital investment in constructing 15-20 creative parks in FY 2026 to build a recurring revenue base by FY 2027.

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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.