ZENITHDRUG
Zenith Drugs financials
- Market cap
- ₹82 Cr
- Sector
- Healthcare
What Zenith Drugs Ltd does
Zenith Drugs manufactures pharmaceutical formulations — ORS powders, liquid orals, liquid externals, ointments/creams, capsules and tablets — from a WHO-GMP-certified facility in Indore, Madhya Pradesh. It sells across more than 18 Indian states and exports to select overseas markets, and also supplies other pharma companies (Ajanta Pharma, Micro Labs, May & Bakers, Troikaa) and more than 10 state governments. In FY2024-25 it commissioned a new manufacturing block at Depalpur, Indore to add tablet and liquid-oral capacity.
Segments
- Oral Powders (incl. ORS)
- Liquid Externals
- Ointments/Creams
- Tablets
- Capsules
- Liquid Orals
- Molecules manufactured
- 250+
- SKUs produced
- 780
- Indian states served
- 18+
- Export countries/markets
- 8 (Costa Rica, Mauritius, Cambodia, Myanmar, Yemen, Sierra Leone, Liberia, Bhutan)
- State governments as institutional customers
- 10+
- Manufacturing facilities
- 2 (existing WHO-GMP unit + new Depalpur, Indore block commissioned Dec 2024)
Quarterly results
Q4 FY26: revenue up 50.0%, net profit down 50.0% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 69 | 62 | 68 | 66 | 78 +13% | 93 +50% |
| EBITDA | 11 | 6 | 7 | 7 | 6 −45% | 6 +0% |
| Net profit | 6 | 4 | 6 | 1 | 2 −67% | 2 −50% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −30.6% 1Y
1Y: ₹68.9 on 10 Sept 2025 → ₹47.85. High ₹69.85 (11 Sept 2025), low ₹35.2 (30 Mar 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹17 Cr | ₹17 Cr | ₹17 Cr |
| Reserves | ₹9 Cr | ₹12 Cr | ₹17 Cr | ₹45 Cr | ₹55 Cr | ₹58 Cr |
| Borrowings | ₹15 Cr | ₹17 Cr | ₹25 Cr | ₹24 Cr | ₹52 Cr | ₹55 Cr |
| Other liabilities | ₹21 Cr | ₹37 Cr | ₹54 Cr | ₹48 Cr | ₹42 Cr | ₹57 Cr |
| Total liabilities | ₹47 Cr | ₹66 Cr | ₹97 Cr | ₹134 Cr | ₹165 Cr | ₹188 Cr |
| Fixed assets | ₹9 Cr | ₹10 Cr | ₹11 Cr | ₹11 Cr | ₹42 Cr | ₹41 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹4 Cr | ₹4 Cr | ₹10 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹37 Cr | ₹56 Cr | ₹86 Cr | ₹119 Cr | ₹119 Cr | ₹136 Cr |
| Total assets | ₹47 Cr | ₹66 Cr | ₹97 Cr | ₹134 Cr | ₹165 Cr | ₹188 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
The ownership split has held steady since Mar 2025. The shareholder count shrank 7% to 1,435.
- Promoters
- 70.0%
- Public
- 30.0%
Since Mar 2025
- FIIs −0.06 pp
- Public +0.06 pp
- Promoters 0.00 pp
How it drifted, 5 quarters
Over this window the public went from 22.3% to 30.0% — +7.7 pp.
Ownership split by quarter, oldest first. Mar '24: Promoters 70.0%, FIIs 5.8%, DIIs 1.9%, Public 22.3%.Sep '24: Promoters 70.0%, FIIs 0.4%, Public 29.6%.Mar '25: Promoters 70.0%, FIIs 0.1%, Public 30.0%.Sep '25: Promoters 70.0%, Public 30.0%.Mar '26: Promoters 70.0%, Public 30.0%.
Who is on the register
Named in the Mar 2026 filing
Every holder of Zenith Drugs Ltd above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Ajay Singh Dassundi | 22.52% | unchanged |
| Sandeep Bhardwaj | 21.38% | unchanged |
| Bhupesh Soni | 20.18% | unchanged |
| Jaywanti Soni | 2.94% | unchanged |
| Priyanka Bharadwaj | 1.94% | unchanged |
| Anjali Dassundi | 0.80% | unchanged |
| Saroj Soni | 0.20% | unchanged |
| Amit Garg | — | off the list |
| Bindu Garg | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Zenith Drugs Ltd
Guides on how to read this kind of business and the numbers that matter.