Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Zuari Industries Ltd
Quarter-by-quarter operating performance
| Mar 2023 | 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 + | 282 | 191 | 269 | 116 | 262 | 226 | 237 | 235 | 272 | 257 | 241 | 263 | 284 |
| Expenses + | 233 | 243 | 282 | 126 | 142 | 201 | 233 | 242 | 245 | 232 | 230 | 270 | 253 |
| Operating Profit | 49 | -52 | -13 | -10 | 121 | 25 | 4 | -7 | 28 | 25 | 11 | -8 | 30 |
| OPM % | 17% | -27% | -5% | -9% | 46% | 11% | 2% | -3% | 10% | 10% | 4% | -3% | 11% |
| Other Income + | 142 | 82 | 60 | 891 | 15 | 17 | 59 | 54 | 25 | 45 | 225 | 47 | 20 |
| Interest | 67 | 69 | 74 | 72 | 68 | 69 | 71 | 63 | 59 | 63 | 61 | 56 | 62 |
| Depreciation | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 7 | 7 | 8 | 8 |
| Profit before tax | 118 | -46 | -34 | 802 | 61 | -34 | -15 | -24 | -15 | -0 | 167 | -25 | -20 |
| Tax % | 13% | 4% | -5% | 9% | -3% | -2% | -1% | 7% | 42% | 18% | 2% | 7% | 61% |
| Net Profit + | 102 | -48 | -32 | 729 | 63 | -34 | -15 | -25 | -21 | -0 | 164 | -26 | -32 |
| EPS in Rs | 34.34 | -15.85 | -10.67 | 244.89 | 21.35 | -11.20 | -4.84 | -8.31 | -6.95 | 0.02 | 55.34 | -8.69 | -10.41 |
Financials of Zuari Industries Ltd
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 520 | 553 | 603 | 550 | 774 | 771 | 834 | 722 | 955 | 838 | 970 | 1,045 |
| Expenses + | 518 | 568 | 575 | 556 | 905 | 1,031 | 843 | 710 | 927 | 786 | 921 | 974 |
| Operating Profit | 2 | -15 | 29 | -6 | -131 | -260 | -9 | 12 | 28 | 52 | 50 | 71 |
| OPM % | 0% | -3% | 5% | -1% | -17% | -34% | -1% | 2% | 3% | 6% | 5% | 7% |
| Other Income + | 21 | 3 | 32 | 107 | 100 | 121 | 127 | 230 | 562 | 1,041 | 154 | 324 |
| Interest | 34 | 39 | 66 | 119 | 113 | 160 | 202 | 264 | 248 | 282 | 262 | 243 |
| Depreciation | 8 | 8 | 15 | 20 | 21 | 25 | 29 | 23 | 27 | 27 | 29 | 30 |
| Profit before tax | -19 | -60 | -20 | -38 | -165 | -325 | -113 | -45 | 314 | 784 | -88 | 122 |
| Tax % | 57% | -36% | 1% | 9% | -11% | 22% | -13% | -22% | 1% | 9% | 8% | 13% |
| Net Profit + | -26 | -38 | -20 | -41 | -148 | -396 | -98 | -35 | 309 | 713 | -94 | 106 |
| EPS in Rs | -8.93 | -14.96 | -8.80 | -10.56 | -43.68 | -124.81 | -29.20 | -12.19 | 104.30 | 239.72 | -31.30 | 36.25 |
| Dividend Payout % | -11% | -7% | -11% | -9% | -2% | -1% | -7% | -8% | 1% | 0% | -3% | 0% |
Financials of Zuari Industries Ltd
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 30 | 30 | 30 | 30 |
| Reserves | 649 | 1,760 | 1,880 | 2,378 | 2,152 | 1,137 | 1,849 | 2,885 | 2,312 | 3,830 | 4,959 | 3,591 |
| Borrowings + | 623 | 760 | 866 | 1,153 | 1,471 | 1,940 | 2,288 | 2,512 | 2,691 | 2,436 | 2,568 | 2,598 |
| Other Liabilities + | 556 | 442 | 459 | 624 | 773 | 830 | 740 | 816 | 774 | 1,195 | 1,363 | 944 |
| Total Liabilities | 1,858 | 2,991 | 3,235 | 4,184 | 4,426 | 3,937 | 4,907 | 6,243 | 5,807 | 7,492 | 8,920 | 7,164 |
| Fixed Assets + | 252 | 370 | 539 | 550 | 544 | 698 | 665 | 654 | 645 | 622 | 609 | 616 |
| CWIP | 169 | 142 | 12 | 8 | 71 | 3 | 2 | 7 | 1 | 6 | 7 | 6 |
| Investments | 375 | 1,433 | 1,600 | 2,211 | 2,023 | 1,132 | 1,877 | 3,180 | 2,586 | 4,852 | 6,379 | 4,851 |
| Other Assets + | 1,063 | 1,046 | 1,084 | 1,415 | 1,788 | 2,104 | 2,364 | 2,401 | 2,575 | 2,012 | 1,925 | 1,691 |
| Total Assets | 1,858 | 2,991 | 3,235 | 4,184 | 4,426 | 3,937 | 4,907 | 6,243 | 5,807 | 7,492 | 8,920 | 7,164 |
Financials of Zuari Industries Ltd
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -288 | -12 | 109 | -125 | -45 | 126 | 109 | 62 | 269 | 71 | -1 | 144 |
| Cash from Investing Activity + | 41 | -45 | -5 | -97 | -114 | -360 | -204 | 69 | -159 | 475 | 183 | 20 |
| Cash from Financing Activity + | 238 | 66 | -98 | 214 | 160 | 232 | 90 | -87 | -89 | -583 | -163 | -175 |
| Net Cash Flow | -8 | 9 | 5 | -9 | 2 | -2 | -5 | 44 | 22 | -36 | 18 | -12 |
| Free Cash Flow | -387 | -98 | 100 | -153 | -169 | 33 | 108 | 56 | 259 | 101 | -16 | 118 |
| CFO/OP | -11,600% | -8% | 326% | 1,963% | 51% | -51% | -1,010% | 728% | 1,012% | 136% | -47% | 203% |
Financials of Zuari Industries Ltd
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 69 | 62 | 56 | 86 | 49 | 51 | 40 | 37 | 31 | 24 | 24 | 23 |
| Inventory Days | 1,432 | 896 | 831 | 1,809 | 1,840 | 1,215 | 864 | 1,031 | 629 | 502 | 405 | 388 |
| Days Payable | 580 | 295 | 383 | 825 | 626 | 465 | 260 | 283 | 142 | 162 | 99 | 91 |
| Cash Conversion Cycle | 922 | 663 | 505 | 1,071 | 1,263 | 800 | 644 | 785 | 518 | 364 | 330 | 320 |
| Working Capital Days | 82 | -27 | 11 | 79 | 161 | 94 | 92 | 81 | 72 | -537 | -349 | -392 |
| ROCE % | 3% | -1% | 2% | 3% | -2% | -5% | 3% | 4% | 11% | 4% | 3% | 5% |