Zodiac Energy FY26: Revenue up 33%, EBITDA up 50%, targets Rs 1,000 cr by FY29

Order Pipeline DisclosedAnalyst Day Multiyear TargetsMgmt Guided Margin ImprovementInvestor Communications View source PDF

ZODIAC · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-1.5%1-day move

₹265.00

prior close

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base price

After-mkt

timing

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AI summary

FY26 revenue ₹543.5 cr (+33% YoY), EBITDA ₹55.3 cr (+50%) with margin up 114 bps to 10.2%. Cash PAT ₹31 cr (+36%); reported PAT ₹21 cr (+5%) with margin at 3.9%. Orderbook ₹382.3 cr (+23%), inflow ₹163.4 cr. IPP revenue ₹15.6 cr (+478%). Commissioned 65.7 MW C&I projects. Targets ₹1,000 cr revenue by FY29 via Zenwatt. But RoE fell to 19.5% from 27.7%, net debt/equity rose to 1.9x, cash conversion worsened to 94 days.

Likely market impact

Strong topline and EBITDA growth with margin expansion. However, RoE decline, higher leverage, and worsening cash conversion are concerns.