Zenith Drugs share price & results
- Mar 2026
- Mar 2026
Indore-based WHO-GMP pharmaceutical formulations manufacturer known as one of central India's largest ORS sachet makers, also producing liquid orals, ointments/creams, capsules and tablets.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 93.0 | +40.9% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 6.0 | −4.0 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 2.0 | +100.0% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | −5.8 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | −4.7 pts | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | −9.0 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance −42.2% 1Y
1Y: ₹65.15 on 24 Oct 2025 → ₹37.65. High ₹65.15 (24 Oct 2025), low ₹35.2 (30 Mar 2026).
- Previous close
- ₹38.5
- Market cap
- ₹73 Cr
- 52-week range
- ₹35.2 – ₹65.05
- One year
- −39.32%
Overview
- Symbol
- NSE:ZENITHDRUG
- Sector
- Healthcare
- Exchange
- NSE
- Currency
- INR
What Zenith Drugs Ltd does
Based on the company's own presentations, annual report and earnings calls.
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)
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 3 fiscal years held (Mar 2022 to Mar 2024).
Financials
What the filings say
Net profit, year on year: +100% (quarter to mar 2026 against mar 2025).
| Line item | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Sales | 69 | 62 | 68 | 66 | 78 | 93 |
| Expenses | 58 | 56 | 61 | 59 | 72 | 87 |
| Operating profit | 11 | 6 | 7 | 7 | 6 | 6 |
| Operating margin | 16.0% | 9.0% | 10.0% | 10.0% | 8.0% | 6.0% |
| Other income | -1 | 2 | 1 | 1 | 2 | 3 |
| Interest | 1 | 2 | 1 | 2 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 2 | 3 | 3 |
| Profit before tax | 8 | 6 | 6 | 4 | 2 | 3 |
| Tax rate | 25.0% | 32.0% | 0.0% | 59.0% | 0.0% | 48.0% |
| Net profit | 6 | 4 | 6 | 1 | 2 | 2 |
| EPS (₹ per share) | 4.75 | 2.24 | 3.34 | 0.84 | 1.36 | 0.94 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 17 | 17 | 17 | 17 |
| Reserves | 12 | 17 | 45 | 52 | 55 | 56 |
| Borrowings | 17 | 25 | 24 | 49 | 52 | 55 |
| Other liabilities | 37 | 54 | 48 | 44 | 42 | 59 |
| Total liabilities | 66 | 97 | 134 | 161 | 165 | 188 |
| Fixed assets | 10 | 11 | 11 | 40 | 42 | 37 |
| Capital work in progress | 0 | 0 | 4 | 3 | 4 | 14 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 56 | 86 | 119 | 118 | 119 | 136 |
| Total assets | 66 | 97 | 134 | 161 | 165 | 188 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -1 | 5 | -4 | -16 | -5 | 9 |
| Cash from investing | -2 | -3 | -2 | -5 | -31 | -14 |
| Cash from financing | 3 | -1 | 6 | 30 | 28 | 5 |
| Net cash flow | 0 | 1 | 0 | 9 | -8 | 0 |
| Free cash flow | -2 | 2 | -6 | -21 | -37 | -5 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 119 | 128 | 157 | 188 | 167 | 157 |
| Inventory days | 52 | 61 | — | 249 | 277 | 257 |
| Days payable | 155 | 173 | — | 412 | 281 | 337 |
| Cash conversion cycle | 17 | 16 | 157 | 25 | 163 | 77 |
| Working capital days | 24 | 21 | 39 | 111 | 91 | 74 |
| Return on capital employed | 28.0% | 24.0% | 25.0% | 28.0% | 13.0% | 9.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 9.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 69.98% as of Mar 2026; institutions added 0.00 pts since Sept 2025.
- Promoters 69.98%
- Foreign institutions 0.00%
- Domestic institutions 0.00%
- Public 30.02%
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 |
|---|---|---|
| 22.52% | unchanged | |
| 21.38% | unchanged | |
| 20.18% | unchanged | |
| 2.94% | unchanged | |
| 1.94% | unchanged | |
| 0.80% | unchanged | |
| 0.20% | unchanged | |
| — | off the list | |
| — | 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.
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