Zuari Industries Ltd
Zuari Industries Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Ethanol capacity at Zuari Industries is currently 125 klpd, fully operational with 85% capacity utilization; new 180 klpd distillery at Zuari Envien Bioethanol is about to be commissioned. Zuari Industries expects EBITDA margins of 10-12% to be comfortable in the sugar sector, despite some pressure from recent cane price hikes.
From Zuari Industries Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Ethanol capacity at Zuari Industries is currently 125 klpd, fully operational with 85% capacity utilization; new 180 klpd distillery at Zuari Envien Bioethanol is about to be commissioned.
- Plans to ramp up bioethanol capacity at ZEBPL to 1000 klpd over the next 3-5 years, subject to regulatory and market conditions.
- Ethanol sales volume increased by 7.6% in Q2 and 24.8% over half-year; ethanol production up 44% quarterly.
- Sugar sales volumes decreased from 4.2 lakh to 3.6 lakh quintals in Q2, but sugar realizations and margins improved.
- Real estate segment (DM projects) growing with projects like Gangotri and Texmaco Rail (GDV > INR 2000 crores each) under revenue-sharing model, with monthly billing revenue recognition.
- Moderate export sales budgeted for sugar; domestic sugar sales expected to remain stable, driven by consumption ~28 million tons.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Zuari Industries Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
2 more points management made on capital expenditure plans
Top-ranked in Agricultural Food & other Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Zuari Industries Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- For the real estate Phase 4 project, out of 156 plots, about 98 have been booked.
- Total project revenue for Phase 4 is around ₹90 crores, to be recognized upon handover of units.
- Zuari Infra's Gangotri and Texmaco Rail projects have Gross Development Values (GDV) of over ₹2,000 crores each.
- Zuari Infra earns around 7% of the top line as revenue sharing from these projects.
- Revenue recognition for these projects happens monthly or quarterly based on contract tenure.
2 more points management made on order book & pipeline
Zuari Industries Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹284 Cr, net loss ₹32 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Zuari Industries's management said in earlier quarters
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Frequently Asked Questions
What were Zuari Industries Ltd Q2 FY26 results?
Ethanol capacity at Zuari Industries is currently 125 klpd, fully operational with 85% capacity utilization; new 180 klpd distillery at Zuari Envien Bioethanol is about to be commissioned. Zuari Industries expects EBITDA margins of 10-12% to be comfortable in the sugar sector, despite some pressure from recent cane price hikes.
What is Zuari Industries Ltd share price analysis?
Zuari Industries Ltd currently shows a neutral. The stock trades at a P/E of 6.7 with a market cap of ₹775 Cr. Investors should review the full earnings analysis for detailed insights.
Is Zuari Industries Ltd planning capital expenditure?
Zuari Industries plans capital allocation over the next 3-5 years focusing on three key verticals: • Sugar sector – improving existing capacities and exploring organic/inorganic growth opportunities.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.