Z-Tech (India) Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹570 Cr
- P/E
- 15.48
- ROE
- 18.26%
- PEG
- 0.11
- Price to sales
- 3.46
- Debt to equity
- 0.33
- 52W high / low
- ₹668 / ₹383
- Sales growth (5Y)
- 47.03%
- EBITDA margin
- 27.17%
- Net profit margin
- 23.13%
- Promoter holding
- 52.05%
- Sales (last year)
- ₹164 Cr
Incorporated in 1994, Z-Tech (India) Ltd is in the business of design, development, and operations of theme-based city parks, industrial waste water management, and specialized geotechnical solutions[1]
Guidance scorecard · Q1 FY27 call
What Z-Tech (India) Ltd's management guided
and where it ranks in Other Utilities
Other Utilities
RevenueQ1 FY27 call
40%+- 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.
2 more points from Z-Tech (India) Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Z-Tech (India) Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- 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.
2 more points from Z-Tech (India) Ltd's call on capex
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FundraisingQ1 FY27 call
See what Z-Tech (India) Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Total inquiry funnel across all businesses (Parks, Geotech, Water): ~INR 1,500+ crores.
- Park order booking intake planned for the year: ~INR 320 crores; bids in pipeline for parks: INR 450 crores.
- Additional bids in geosynthetics for landslides and flood embankment projects ongoing.
- Around 11 parks in tendering stage; likely some awards in next month to reach ~30 parks by end of FY27.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Other Utilities
on management's own guidance
- Strong growth2
- Strong growth1
- 3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Other Utilities companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹1,488 Cr | 10.8 | |
| 2 | 40%+ | Flat | ₹807 Cr | 56.3 | |
| 3 | Z-Tech (India)This stock | 40%+ | Flat | ₹690 Cr | 18.7 |
| 4 | 40%+ | Flat | ₹334 Cr | 19.6 | |
| 5 | 40%+ | Flat | ₹94 Cr | 7.3 | |
| 6 | 20–40% | Flat | ₹3,521 Cr | 12.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Other Utilities rankingZ-Tech (India) Ltd announcements
All announcements →Financials of Z-Tech (India) Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Z-Tech (India) Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 11 | 19 | 16 | 22 | 16 | 19 | 24 | 35 | 20 | 34 | 42 | 59 |
| Expenses + | 10 | 14 | 13 | 19 | 13 | 15 | 16 | 22 | 15 | 27 | 30 | 39 |
| Operating Profit | 1 | 5 | 2 | 3 | 3 | 4 | 8 | 13 | 5 | 7 | 12 | 19 |
| OPM % | 11% | 26% | 15% | 15% | 21% | 20% | 32% | 37% | 24% | 20% | 28% | 33% |
| Other Income + | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 4 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit before tax | 1 | 5 | 2 | 3 | 3 | 4 | 8 | 13 | 5 | 8 | 11 | 21 |
| Tax % | -3% | 26% | 41% | 17% | 26% | 23% | 25% | 33% | 36% | 23% | 33% | 7% |
| Net Profit + | 1 | 4 | 1 | 3 | 2 | 3 | 6 | 8 | 3 | 6 | 8 | 19 |
| EPS in Rs | 1.13 | 2.86 | 1.84 | 2.34 | 4.50 | 5.93 | 2.12 | 4.23 | 5.27 | 13.24 |
Financials of Z-Tech (India) Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales + | 23 | 31 | 26 | 67 | 94 | 156 |
| Expenses + | 22 | 30 | 23 | 56 | 66 | 113 |
| Operating Profit | 1 | 0 | 3 | 12 | 28 | 43 |
| OPM % | 3% | 1% | 12% | 17% | 30% | 28% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 2 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 2 |
| Profit before tax | 1 | 0 | 3 | 11 | 27 | 45 |
| Tax % | 27% | 50% | 27% | 24% | 29% | 20% |
| Net Profit + | 1 | 0 | 2 | 8 | 20 | 36 |
| EPS in Rs | 8.99 | 13.68 | 24.80 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Z-Tech (India) Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 1 | 9 | 14 | 14 |
| Reserves | 8 | 8 | 10 | 13 | 157 | 209 |
| Borrowings + | 1 | 1 | 1 | 1 | 2 | 75 |
| Other Liabilities + | 9 | 9 | 11 | 19 | 34 | 39 |
| Total Liabilities | 20 | 20 | 24 | 43 | 207 | 338 |
| Fixed Assets + | 1 | 1 | 1 | 4 | 10 | 59 |
| CWIP | 0 | 0 | 0 | 0 | 29 | 24 |
| Investments | 1 | 1 | 1 | 1 | 0 | 0 |
| Other Assets + | 19 | 18 | 22 | 38 | 168 | 255 |
| Total Assets | 20 | 20 | 24 | 43 | 207 | 338 |
Financials of Z-Tech (India) Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -1 | 2 | 0 | 0 | -91 | -38 |
| Cash from Investing Activity + | -0 | -1 | -1 | -3 | -35 | -41 |
| Cash from Financing Activity + | 0 | -0 | -0 | 4 | 129 | 88 |
| Net Cash Flow | -1 | 1 | -1 | 1 | 3 | 9 |
| Free Cash Flow | -2 | 1 | -1 | -3 | -127 | -84 |
| CFO/OP | -147% | 506% | 25% | 26% | -300% | -66% |
Financials of Z-Tech (India) Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 196 | 145 | 214 | 155 | 189 | 220 |
| Inventory Days | 22 | 8 | 21 | 8 | 15 | 14 |
| Days Payable | 150 | 122 | 186 | 110 | 167 | 118 |
| Cash Conversion Cycle | 68 | 31 | 48 | 53 | 37 | 117 |
| Working Capital Days | 130 | 80 | 126 | 83 | 471 | 310 |
| ROCE % | 2% | 25% | 61% | 28% | 20% |
Guidance history
How Z-Tech (India) Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 40%+ | Flat | Planned | — | Rising |
| Q4 FY26 call → | 40%+ | Up 2%+ | Planned | None planned | Rising |
| Q3 FY26 call → | 40%+ | Up 2%+ | Planned | — | Flat |
| Q2 FY26 call → | 40%+ | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
6 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −32.2% | 21% |
| Last 6 months | −38.2% | 4% |
| Last 3 months | −27.1% | 9% |
The price is 45.5% below its all-time high of ₹702.55 (17 Jan 2025). Stocks more than 20% below their peak have their score halved, so 12 became 6.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Z-Tech (India) Ltd: 0.4 × 21 + 0.4 × 4 + 0.2 × 9 = 12, halved to 6 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Z-Tech (India) Ltd's management said in earlier quarters
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