Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 19 Sep - Zodiac Energy received four domestic solar project POs totaling 24,760 kWp, to be executed within 6 months.
Source: Bse
Zodiac Energy Limited (ZODIAC)
Small CapPower stocks · Small cap · NSE
Zodiac Energy Limited operates in Solar EPC, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result13 Aug, 12:38 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Jun 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
22Bearishfull bear SMA stack · SMA20 -9.7% / mo · RSI oversold · MACD − · near 52W low
Stock trend: 22
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ZODIACD candles · FIT view-42.7%Latest close ₹197.97 on 2026-10-19
Bar
-1.4%
RSI
28
MACD hist
-0.48
52W pos
1%
2026-10-19O ₹200.77H ₹203.95L ₹195.51C ₹197.97Vol 8,346 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
ZODIACNifty PowerNifty 500
- ZODIAC
- -23.7%
- Nifty 500
- -5.6%
- Nifty Power
- -13.0%
- Vs Nifty 500
- -18.1 pp
Chart stats
19 Oct 2026- From 52W high
- -52.3%
- 52W range position
- 1%
- ATR (14)
- 5.1%
- Volume vs 20D
- 0.75x
- Avg traded value
- ₹0.2 Cr
- 20D price channel
- ₹195.5 - ₹235.8
₹415
₹195.5 - ₹415
₹10.2
Latest completed session
20-session average
32.9% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE53
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +44.6% · PAT +167.2% YoY
Technical
Bearish22
Price trend and sector-relative-strength timing.
Valuation
Legacy model+53.1%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence64
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +45% YoY · PAT +167% YoY · margin expansion · operating leverage
Filed 13 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹141.8 Cr | +44.6% | -32.8% |
| EBITDA | ₹15.8 Cr | +62.7% | -28.3% |
| Operating margin | 11.2% | +124 bps | +71 bps |
| PAT | ₹7 Cr | +167.2% | -34.1% |
| PAT margin | 4.9% | +227 bps | -9 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 12.80
- P/B
- 2.78
- EV/EBITDA
- 7.90
- Market Cap
- 326.00Cr
Profitability
- ROE
- 18.70%
- ROCE
- 15.00%
- ROA
- 5.19%
- Dividend Y
- 0.35%
Growth (CAGR)
- Revenue 5Y
- 48.00%
- EPS 5Y
- 48.00%
- Revenue 3Y
- 17.00%
- EPS 3Y
- 17.00%
Balance Sheet
- Debt/Equity
- 2.08
- Interest Coverage
- 3.10×
- Altman Z
- 2.56
- Book Value
- 77.30
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 16.00 Cr
- EPS TTM
- 16.80
Shareholding
- Promoter Hold
- 69.97%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 7%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 544+33.3% vs prev
Net Profit
₹ CrLatest: 21.0+5.0% vs prev
Return on Equity
%Latest: 17.9-13.8% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 28.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~10.8% over last month) — short-term momentum negative.
- RSI(14) at 28 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
8
RS percentile
Stage 4 Downtrend
1M return
-10.9%
3M return
-23.7%
6M return
-33.2%
1Y return
-46.4%
RS 1D
+1
RS 20D
-2
Sector rank
#11
Industry rank
-
Stage evidence
- Price is 24.8% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -1.3%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 51.72-0.37%
RS vs Nifty 50052
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 53 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Growth at Value
Fundamental score breakdown
U band · FAIR VALUEValuation17/30
Growth18/25
Quality12/20
Balance Sheet2/15
Cash Flow1/10
Piotroski
7/9 (+5)
Penalties
-2
Raw sum
53
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
53/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 53.1%.
- Growth contributes 18/25 to the score.
Main drags
- Penalty bucket subtracts 2 points.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
- Balance sheet is weaker at 2/15; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
12.8
PB
2.8
EV/EBITDA
7.9
ROE
18.7%
ROCE
15.0%
FCF Yield
—
Debt/Equity
2.1
MoS
+53.1%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
53
Previous: 54 (-1)
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+53.1%
Previous: +54.9%
Score history
12 stored score snapshots. Latest stored move: +1 points.
20 Oct 2026
v4.3-runtime-valuation
53
53
53
53
53
53
53
53
53
53
53
54
Factor attribution
Valuation
17-1
was 18
Modelled fair value
Graham Number
₹170.94
-15.8% MoS
Growth-justified P/E
25.1
Growth-justified Value
₹422.18
+53.1% MoS
PEG
0.36
Comparable companies
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SURANASOL
Small
Surana Solar Limited
Solar EPC
match 228
29
18.5
-1.9%
+12%
OVERVALUED
SOLARWORLD
Small
Solarworld Energy Solutions Limited
Solar EPC
match 216
73
9.2
20.8%
+65%
UNDERVALUED
GGBL
SME
Ganesh Green Bharat Ltd.
Solar EPC
match 207
89
7.0
31.0%
+81%
DEEP VALUE
SWSOLAR
Micro
Sterling and Wilson Renewable Energy Limited
Solar EPC
match 198
51
16.8
40.1%
+25%
FAIR VALUE
WAAREERTL
Micro
Waaree Renewable Technologies Limited
Solar EPC
match 197
72
18.1
68.3%
+54%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Zodiac Energy Limited operates in Solar EPC, within the Power sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
64Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 42nd percentile of the scored universe and 47th percentile within Power. Main check: balance sheet trust is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
15 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
42nd percentile
overall median 67 · Power: 47th pctile, median 65 · Small: 47th pctile, median 66
Evidence depth
Financial-only
15 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
40
weak · leverage and solvency
Discipline
76
strong · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 70%.
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸3/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Debt/equity is 2.08.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Zodiac Energy Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement Under Regulation 30 Of SEBI (LODR) Regulations, 2015 3 Sep - Zodiac Energy won three awards at Global Solar Expo 2026, Ahmedabad.
Source: Bse
Investor presentation
Announcement under Regulation 30 (LODR)-Investor Presentation 3 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Sep - Newspaper Advertisement - Notice of 34th Annual General Meeting
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Amendments to Memorandum & Articles of Association 13 Aug - Board approved Q1 results, 98% stake acquisitions in solar LLPs, 34th AGM on Sept 23, and Rs.0.75 dividend.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 6 Jul - Allotment of 28,943 Equity shares under "Zodiac Energy Limited Employee Stock Option Plan - 2023"
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jun - Newspaper Advertisement for Notice of Postal Ballot and E-voting Information
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.