Zodiac Energy share price & results
- Jun 2026
- Sept 2026
Ahmedabad-based renewable-energy EPC contractor building ground-mounted and rooftop solar projects, an emerging independent power producer, and a trader of solar PV modules, with a growing export footprint in Africa.
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 | 142 | +44.6% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 10.6 | +0.7 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 7.0 | +161.0% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 23.81 | −1.8 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -5.04 | +30.9 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 37.70 | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance −50.6% 1Y
1Y: ₹374.3 on 24 Oct 2025 → ₹185.01. High ₹398.3 (6 Nov 2025), low ₹185.01 (26 Oct 2026).
- Previous close
- ₹190.1
- Market cap
- ₹294 Cr
- 52-week range
- ₹185.01 – ₹398.3
- One year
- −50.20%
- Price to earnings (TTM to Jun 2026)
- 11.59×
- Return on equity (TTM to Jun 2026)
- 23.81%
Overview
- Symbol
- NSE:ZODIAC
- Sector
- Construction
- Industry
- Industrials
- Exchange
- NSE
- Currency
- INR
What Zodiac Energy Limited does
Based on the company's own presentations, annual report and earnings calls.
Zodiac Energy, founded in 1992 as Zodiac Gensets, is a fully integrated renewable-energy EPC company operating across four verticals: EPC ground-mounted solar, EPC rooftop solar, an Independent Power Producer (IPP) generation business, and distribution/trading of solar PV modules. It provides turnkey solutions from design through commissioning for utility, C&I and residential clients across India, with an increasing focus on floating solar, solar trees, hybrid systems and battery energy storage (BESS). The company has commenced power generation as an IPP under India's PM-KUSUM scheme and has begun executing EPC and hybrid renewable projects overseas, starting with its first project in Zambia.
Segments
- EPC – ground-mounted solar
- EPC – rooftop solar
- Independent Power Producer (IPP)
- Distribution of solar products
- Cumulative solar projects executed
- 500+ MW across rooftop, ground-mounted & co-generation
- Captive co-generation capacity installed
- 150+ MW
- IPP installed capacity
- 22 MW (PM-KUSUM sites, 6 projects completed)
- FY25 annual solar installations
- 92.8 MW (up from 34.2 MW in FY22)
- Grid-connected solar systems installed / homes serviced
- 10,000+
- Cumulative satisfied customers
- 15,000+
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 2 fiscal years held (Mar 2025 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +161% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 53 | 104 | 171 | 98 | 97 | 138 | 211 | 142 |
| Expenses | 48 | 94 | 154 | 88 | 87 | 124 | 189 | 127 |
| Operating profit | 5 | 10 | 18 | 10 | 10 | 14 | 22 | 15 |
| Operating margin | 9.3% | 9.9% | 10.3% | 9.9% | 10.6% | 9.9% | 10.3% | 10.6% |
| Other income | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 |
| Interest | 1 | 3 | 4 | 4 | 4 | 4 | 5 | 5 |
| Depreciation | 0 | 1 | 2 | 2 | 3 | 3 | 3 | 2 |
| Profit before tax | 4 | 8 | 13 | 4 | 4 | 7 | 15 | 10 |
| Tax rate | 34.0% | 25.2% | 27.1% | 26.1% | 24.3% | 27.6% | 29.4% | 26.9% |
| Net profit | 2 | 6 | 9 | 3 | 3 | 5 | 11 | 7 |
| EPS (₹ per share) | 1.65 | 3.78 | 6.25 | 1.78 | 1.77 | 3.36 | 7.03 | 4.64 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 138 | 220 | 408 | 544 |
| Expenses | 130 | 201 | 371 | 488 |
| Operating profit | 8 | 19 | 37 | 55 |
| Other income | 1 | 1 | 2 | 3 |
| Interest | 3 | 4 | 9 | 19 |
| Depreciation | 1 | 1 | 3 | 10 |
| Profit before tax | 4 | 15 | 28 | 29 |
| Net profit | 4 | 11 | 20 | 21 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 15 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 18 | 21 | 33 | 81 | 86 | 102 |
| Borrowings | 18 | 46 | 41 | 175 | 178 | 217 |
| Other liabilities | 28 | 13 | 27 | 67 | 51 | 151 |
| Total liabilities | 79 | 95 | 116 | 339 | 330 | 485 |
| Fixed assets | 3 | 3 | 4 | 92 | 151 | 128 |
| Capital work in progress | 0 | 0 | 0 | 7 | 1 | 1 |
| Investments | 0 | 0 | 0 | 0 | 4 | 18 |
| Other assets | 76 | 92 | 111 | 239 | 174 | 338 |
| Total assets | 79 | 95 | 116 | 339 | 330 | 485 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | -4 | 2 | -23 | 16 | -49 | 48 |
| Cash from investing | -2 | -4 | -3 | -5 | -105 | -59 |
| Cash from financing | 6 | 3 | 25 | -10 | 153 | 23 |
| Net cash flow | 0 | 1 | -1 | 1 | 0 | 11 |
| Free cash flow | -5 | 1 | -23 | 14 | -147 | 8 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 83 | 78 | 110 | 130 | 51 | 76 |
| Inventory days | 82 | 88 | 52 | 28 | 56 | 110 |
| Days payable | 45 | 59 | 14 | 29 | 50 | 41 |
| Cash conversion cycle | 120 | 106 | 148 | 129 | 57 | 145 |
| Working capital days | 88 | 82 | 67 | 72 | 33 | 23 |
| Return on capital employed | 20.0% | 20.0% | 11.0% | 22.0% | 20.0% | 16.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 6.0% | 5.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
Solar Photovoltaic Modules & EPC Contracts contributes 96.5% of reported segment revenue.
Quarter ended 30 Jun 2026 · Standalone
- Solar Photovoltaic Modules & EPC Contracts 96.5%
₹137.86 crore
- Generation of Power 3.5%
₹5.01 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| Solar Photovoltaic Modules & EPC Contracts | 137.86 | 96.5% |
| Generation of Power | 5.01 | 3.5% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹142.87 crore
- Intersegment adjustment
- Not reported
- Net segment revenue
- ₹142.87 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
Ownership
Who owns it
Promoters hold 69.83% as of Sept 2026; institutions added 0.05 pts since Jun 2026.
- Promoters 69.83%
- Foreign institutions 0.20%
- Domestic institutions 0.19%
- Public 29.77%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- +4.01 pp 66.59% held
- +0.09 pp 2.90% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Zodiac Energy Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 66.59% | +4.01 pp | |
| 2.90% | +0.09 pp | |
| 1.68% | unchanged | |
| 0.13% | unchanged | |
| 0.05% | unchanged | |
| 0.05% | unchanged | |
| 0.05% | unchanged | |
| 0.04% | unchanged | |
| 0.01% | unchanged | |
| 0.01% | unchanged | |
| — | 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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