Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 31 Aug - RoC Goa imposed Rs. 3 lakh penalty on company and Rs. 50,000 each on four KMPs for FY2021 non-compliance.
Source: Bse
Zuari Agro Chemicals Limited (ZUARI)
Small CapIndustrials stocks · Small cap · NSE
Zuari Agro Chemicals Limited operates in Fertilizers, within the Industrials 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 result31 Jul, 07:08 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
31Bearishfull bear SMA stack · SMA20 -5.0% / mo · MACD − · near 52W low
Stock trend: 18
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
ZUARID candles · FIT view-17.3%Latest close ₹202.73 on 2026-10-19
Bar
-1.9%
RSI
35
MACD hist
-0.75
52W pos
16%
2026-10-19O ₹206.60H ₹207.90L ₹202.00C ₹202.73Vol 80,027 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
ZUARINifty India ManufacturingNifty 500
- ZUARI
- -12.0%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -6.4 pp
Chart stats
19 Oct 2026- From 52W high
- -41.3%
- 52W range position
- 16%
- ATR (14)
- 3.3%
- Volume vs 20D
- 1.20x
- Avg traded value
- ₹1.4 Cr
- 20D price channel
- ₹201.4 - ₹227.8
₹345.6
₹175.1 - ₹345.6
₹6.6
Latest completed session
20-session average
27.9% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.
Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · UNDERVALUED69
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -50.6% · PAT -6.3% YoY
Technical
Bearish31
Price trend and sector-relative-strength timing.
Valuation
Legacy model+97.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence60
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
Bad · 0/100Rev -51% YoY · PAT -6% YoY · margin compression · +229% QoQ · operating leverage
Filed 31 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹615 Cr | -50.6% | +228.9% |
| EBITDA | ₹59 Cr | -58.2% | +521.4% |
| Operating margin | 10.0% | -100 bps | +1800 bps |
| PAT | ₹119 Cr | -6.3% | NDF |
| PAT margin | 19.4% | +916 bps | +3272 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 2.87
- P/B
- 0.42
- EV/EBITDA
- 5.73
- Market Cap
- 889.00Cr
Profitability
- ROE
- 1.24%
- ROCE
- 16.40%
- ROA
- 30.04%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 6.00%
- EPS 5Y
- 17.00%
- Revenue 3Y
- -11.00%
- EPS 3Y
- -42.00%
Balance Sheet
- Debt/Equity
- 0.35
- Interest Coverage
- 2.68×
- Altman Z
- 2.40
- Book Value
- 497.00
Cash Flow
- FCF Yield
- 15.07%
- FCF Positive Y
- 10/5
- OCF
- 203.00 Cr
- EPS TTM
- 223.33
Shareholding
- Promoter Hold
- 65.20%
- Promoter Pledge
- 27.60%
- Momentum 52W
- 21%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 615+228.9% vs prev
Net Profit
₹ CrLatest: 119+576.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
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 35.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~5.3% over last month) — short-term momentum negative.
- RSI(14) at 35 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 41% off 52W high · 16% above 52W low.
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
33
RS percentile
Stage 1 Base / Transition
1M return
-8.2%
3M return
-12.0%
6M return
-17.0%
1Y return
-21.7%
RS 1D
-4
RS 20D
-6
Sector rank
#2
Industry rank
#45
Stage evidence
- Price is 9.3% below the 30-week proxy without full trend alignment.
- The 30-week proxy changed +0.1% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 72.75-1.06%
RS vs Nifty 50073
Valuation & peers
U-Score 69 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 69 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · UNDERVALUEDValuation30/30
Growth17/25
Quality3/20
Balance Sheet6/15
Cash Flow8/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
69
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
69/100 · legacy band UNDERVALUED
Positive drivers
- FCF yield is supportive at 15.1%.
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 97.7%.
Main drags
- Promoter pledge is 27.6%.
- Quality is weaker at 3/20; verify the latest quarterly trend.
- Balance sheet is weaker at 6/15; verify the latest quarterly trend.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
2.9
PB
0.4
EV/EBITDA
5.7
ROE
1.2%
ROCE
16.4%
FCF Yield
15.1%
Debt/Equity
0.3
MoS
+97.7%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE. Current PE is low at 2.9, so peak-cycle earnings risk should be checked.
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
69
Previous: 69
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+97.7%
Previous: +97.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
69
69
69
69
69
69
69
69
69
69
69
69
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,580.31
+87.2% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹8,776.87
+97.7% MoS
PEG
0.17
Comparable companies
Peers
Business-comparable peers in Industrials — 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
MADRASFERT
Small
Madras Fertilizers Limited
Fertilizers & Agrochemicals
match 171
62
11.9
292.0%
+67%
UNDERVALUED
KANORICHEM
Small
Kanoria Chemicals & Industries Limited
Fertilizers & Agrochemicals
match 170
79
13.1
22.1%
+87%
DEEP VALUE
KOTHARIPET
Small
Kothari Petrochemicals Limited
Fertilizers & Agrochemicals
match 168
45
78.0
14.2%
-80%
WATCHLIST
ULTRAMAR
Small
Ultramarine & Pigments Limited
Fertilizers & Agrochemicals
match 167
53
13.1
8.6%
+25%
FAIR VALUE
PRIMO
Small
Primo Chemicals Limited
Fertilizers & Agrochemicals
match 167
40
40.5
3.8%
+3%
WATCHLIST
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
Zuari Agro Chemicals Limited operates in Fertilizers, within the Industrials 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
60Limited 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 28th percentile of the scored universe and 24th percentile within Industrials. Main check: results consistency is weak at 5/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
8 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
28th percentile
overall median 67 · Industrials: 24th pctile, median 68 · Small: 32nd pctile, median 66
Evidence depth
Financial-only
8 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
54
watch · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
73
acceptable · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
5
weak · quarterly consistency
Trust positives
- ▸Promoter holding is 65.2%.
- ▸FCF yield is 14.1%.
- ▸10 years of positive FCF.
Trust risks
- ▸Promoter pledge is elevated at 27.6%.
- ▸2 latest quarters had PAT decline worse than 25% YoY.
- ▸ROE is low at 1.2%.
- ▸1/4 latest quarters had positive YoY revenue growth.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Zuari Agro Chemicals Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Aug - Please find the attached Newspaper Publication for the intimation to the shareholders regarding convening of the seventeenth Annual General Meeting of the Company
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
Annual report
Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Aug - Please find attached Newspaper intimation wrt 17th AGM Notice and Annual Report for the FY 2025-26
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.