---
title: "Zandu Realty Ltd(Merged) (ZANDUREALT) — Share Price, Financials & Analysis"
symbol: "ZANDUREALT"
company: "Zandu Realty Ltd(Merged)"
canonical: "https://tapetide.com/stocks/ZANDUREALT"
isin: "INE719A01017"
nse_symbol: "ZANDUREALT"
generated_at: "2026-10-13T10:59:15.596Z"
---

# Zandu Realty Ltd(Merged) (ZANDUREALT)

Canonical page: https://tapetide.com/stocks/ZANDUREALT

## Company

- **NSE Symbol:** ZANDUREALT
- **ISIN:** INE719A01017
- **Stock Type:** DELISTED
- **Face Value:** ₹100
- **F&O Eligible:** No
- **Website:** emamirealty.com

## About

Zandu Realty Limited is an India-based company, which is engaged in the construction and real estate development.

## Latest Price

## Key Insights

### Strengths

- Company is almost debt free.
- Stock is trading at 0.78 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -40.7% over past five years.
- Company has a low return on equity of 12.8% over last 3 years.
- Earnings include an other income of Rs.14.7 Cr.
- Working capital days have increased from 1,019 days to 1,886 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -38% | -49% | 16% |
| revenue growth | -99% | -44% | -41% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 5.67 | 2.2 | 3.34 | 0.95 | 2.17 | 1.01 | 4.12 | 0 | 0 | 0 | 0.05 | 0.05 |
| Expenses | 5.65 | 2.68 | 3.9 | 2.1 | 3.41 | 2.07 | 4.86 | 1.48 | 0.43 | 1.06 | 0.51 | 1.12 |
| Operating Profit | 0.02 | -0.48 | -0.56 | -1.15 | -1.24 | -1.06 | -0.74 | -1.48 | -0.43 | -1.06 | -0.46 | -1.07 |
| OPM % | 0.35 | -21.82 | -16.77 | -121.05 | -57.14 | -104.95 | -17.96 | — | — | — | -920 | -2140 |
| Other Income | 6.2 | 3.72 | 5.72 | 2.07 | 3.04 | 4.18 | 8.15 | 4.11 | 1.98 | 3.89 | 4.86 | 3.95 |
| Interest | 1.15 | 1.07 | 1.09 | 0.15 | 0 | 0.22 | 0.38 | 0.45 | 0.38 | 0.32 | 0.14 | 0.25 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 5.07 | 2.17 | 4.07 | 0.77 | 1.8 | 2.9 | 7.03 | 2.18 | 1.17 | 2.51 | 4.26 | 2.63 |
| Tax % | 22.88 | 21.2 | 19.41 | 23.38 | 18.89 | 31.38 | 23.19 | 35.32 | 32.48 | 45.82 | 37.09 | 42.97 |
| Net Profit | 3.91 | 1.71 | 3.28 | 0.59 | 1.47 | 1.98 | 5.4 | 1.42 | 0.78 | 1.36 | 2.68 | 1.5 |
| EPS in Rs | 48.88 | 21.38 | 41 | 7.38 | 18.38 | 24.75 | 67.5 | 17.75 | 9.75 | 17 | 33.5 | 18.75 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 86.37 | 0 | 0 | 70 | 0 | 29.04 | 86.91 | 8.67 | 5.13 | 0.1 |
| Expenses | 71.2 | 0.94 | 0.64 | 141.43 | 3.56 | 6.59 | 89.93 | 12.07 | 8.85 | 3.12 |
| Operating Profit | 15.17 | -0.94 | -0.64 | -71.43 | -3.56 | 22.45 | -3.02 | -3.4 | -3.72 | -3.02 |
| OPM % | 17.56 | — | — | -102.04 | — | 77.31 | -3.47 | -39.22 | -72.51 | -3020 |
| Other Income | 7.63 | 2.26 | 1.45 | 4.61 | 5.68 | 27.44 | 86.76 | 14.54 | 11.68 | 14.68 |
| Interest | 0.24 | 0 | 0 | 0 | 0 | 0.34 | 2.16 | 2.32 | 1.42 | 1.09 |
| Depreciation | 1.45 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 21.11 | 1.32 | 0.81 | -66.82 | 2.12 | 49.55 | 81.58 | 8.82 | 6.54 | 10.57 |
| Tax % | 27.76 | -5.3 | -12.35 | 5.18 | 36.32 | 22.44 | 21.21 | 20.07 | 20.8 | — |
| Net Profit | 15.25 | 1.39 | 0.91 | -70.28 | 1.35 | 38.43 | 64.27 | 7.05 | 5.18 | 6.32 |
| EPS in Rs | 190.62 | 17.38 | 11.38 | -878.5 | 16.88 | 480.38 | 803.38 | 88.12 | 64.75 | 79 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 8.06 | 8.06 | 8.06 | 8.06 | 8.06 | 8.06 | 8.06 | 8.06 | 8.06 | 8.06 |
| Reserves | 69.58 | 14.95 | 16.34 | 262.23 | 191.95 | 193.3 | 204.99 | 188.69 | 188.37 | 189.42 |
| Borrowings | 0.16 | 0 | 0 | 0 | 0 | 0 | 0 | 35 | 0 | 11.4 |
| Other Liabilities | 27.4 | 1.12 | 1.08 | 1.23 | 3.74 | 0.71 | 56.03 | 0.59 | 1.03 | 0.45 |
| Total Liabilities | 105.2 | 24.13 | 25.48 | 271.52 | 203.75 | 202.07 | 269.08 | 232.34 | 197.46 | 209.33 |
| Fixed Assets | 18 | 0.02 | 6.02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CWIP | 26.19 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 12.03 | 22.49 | 1.46 | 0.01 | 0.01 | 91.51 | 125.21 | 135.21 | 140.09 | 182.37 |
| Other Assets | 48.98 | 1.62 | 18 | 271.51 | 203.74 | 110.56 | 143.87 | 97.13 | 57.37 | 26.96 |
| Total Assets | 105.2 | 24.13 | 25.48 | 271.52 | 203.75 | 202.07 | 269.08 | 232.34 | 197.46 | 209.33 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 22.73 | 12.83 | 0.04 | -1.36 | 72.22 | -5.01 | 65.62 | 7.01 | -3.02 | 5.95 |
| Cash from Investing Activity | -16.66 | -16.85 | 0.29 | 2.27 | -73.56 | 4.89 | -62.72 | -39.98 | 36.6 | -15.98 |
| Cash from Financing Activity | -5.94 | -2.29 | 0.12 | 0 | 0 | 0 | -0.01 | 32.88 | -36.9 | 10.06 |
| Net Cash Flow | 0.13 | -6.31 | 0.45 | 0.91 | -1.34 | -0.12 | 2.89 | -0.09 | -3.32 | 0.03 |
| Free Cash Flow | 12.7 | 4.5 | -5.96 | -1.36 | 72.22 | -5.01 | 65.62 | 7.01 | -3.02 | 5.95 |
| CFO/OP | 124 | 137 | -9 | 361 | -103 | 25 | 296 | -1200 | 37 | -197 |

### Ratios

| Item | Mar 2008 | Mar 2009 | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 9.1 | 0 | — | — | 0 | — | 57.44 | 14.11 | 132.61 | 0 |
| Inventory Days | 104.86 | 0 | — | — | 292.16 | — | 7960.51 | 95.89 | 683.59 | 855.98 |
| Days Payable | 73.89 | — | — | — | 0.39 | — | 0 | 0 | 0 | 0 |
| Cash Conversion Cycle | 40.06 | 0 | — | — | 291.77 | — | 8017.95 | 110 | 816.2 | 855.98 |
| Working Capital Days | 26.72 | -0.76 | — | — | 1039.36 | — | 1060.94 | 115.2 | 1054.58 | 1886.19 |
| ROCE % | 32.47 | 38.81 | 5.15 | 0.55 | -28.42 | 1.06 | 24.08 | 37.65 | 5.2 | 3.93 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 |
| --- | --- | --- |
| Promoters | 35.51% | 35.51% |
| DIIs | 0.39% | 0.13% |
| Public | 64.1% | 64.36% |
| No. of Shareholders | 25106 | 22589 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 35.51% | 35.51% | 35.51% | 35.51% | 35.51% | 35.51% | 35.51% | 35.51% |
| DIIs | 0.45% | 0.41% | 0.45% | 0.39% | 0.56% | 0.37% | 0.27% | 0.13% |
| Public | 64.04% | 64.09% | 64.04% | 64.1% | 63.93% | 64.12% | 64.22% | 64.36% |
| No. of Shareholders | 25970 | 25549 | 25556 | 25106 | 24516 | 24010 | 22993 | 22589 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Sell
- **Buy / Neutral / Sell:** 4 / 6 / 9

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1862.54 | Buy |
| EMA (10) | 1874.42 | Buy |
| SMA (20) | 1944.75 | Sell |
| EMA (20) | 1912.85 | Sell |
| SMA (50) | 1938.42 | Sell |
| EMA (50) | 1946.88 | Sell |
| SMA (100) | 2002.14 | Sell |
| EMA (100) | 1923.24 | Sell |
| SMA (200) | 1750.52 | Buy |
| EMA (200) | 1797.14 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 47.19 | Neutral |
| MACD (12,26,9) | -41.92 | Sell |
| Stochastic (14,3,3) | 31.5 | Neutral |
| ADX (14) | 21.6 | Neutral |
| Williams %R (14) | -47.73 | Neutral |
| ATR (14) | 83.86 | High Volatility |
| ROC (12) | -4.78 | Sell |
| Stoch RSI (14) | 93.15 | Sell |
| UO (7,14,28) | 37.33 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2018-05-15 | [Record Date for Scheme of Arrangement](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0198FA39_3694_4474_ACD1_3891E5958D8C_123020.pdf) |
| 2018-05-15 | [Record Date for Scheme of Arrangement](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/5/0198FA39_3694_4474_ACD1_3891E5958D8C_123020.pdf) |
| 2018-05-11 | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=58028dbf-1dd6-48c4-9ac4-48abf4dd3dab.pdf) |
| 2018-05-11 | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/5/58028dbf-1dd6-48c4-9ac4-48abf4dd3dab.pdf) |
| 2018-05-04 | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e48469c8-d552-4964-b0d7-115dfcee7858.pdf) |
| 2018-05-04 | [Announcement under Regulation 30 (LODR)-Scheme of Arrangement](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/5/e48469c8-d552-4964-b0d7-115dfcee7858.pdf) |
| 2018-04-16 | [Submission Of Half-Yearly Certificate Under Regulation 40(9) & (10) For The Half-Year Ended 31St March, 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f0f22326-03b4-4870-b75e-e49b229b6fc0.pdf) |
| 2018-04-16 | [Submission Of Half-Yearly Certificate Under Regulation 40(9) & (10) For The Half-Year Ended 31St March, 2018](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/4/f0f22326-03b4-4870-b75e-e49b229b6fc0.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/506720/5067200317.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/506720/5067200316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/506720/5067200315.pdf) |
| Mar 2014 | [Annual Report 2014](https://www.bseindia.com/bseplus/AnnualReport/506720/5067200314.pdf) |
| Mar 2013 | [Annual Report 2013](https://www.bseindia.com/bseplus/AnnualReport/506720/5067200313.pdf) |
| Mar 2012 | [Annual Report 2012](https://www.bseindia.com/bseplus/AnnualReport/506720/5067200312.pdf) |
| Mar 2011 | [Annual Report 2011](https://www.bseindia.com/bseplus/AnnualReport/506720/5067200311.pdf) |
| 2011 | [Annual Report 2011](https://archives.nseindia.com/annual_reports/AR_ZANDUREALT_2010_2011_12092011060606.zip) |
| Mar 2010 | [Annual Report 2010](https://www.bseindia.com/bseplus/AnnualReport/506720/5067200310.pdf) |
| 2010 | [Annual Report 2010](https://archives.nseindia.com/annual_reports/AR_ZANDUREALT_2009_2010_01072011102529.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T10:59:15.596Z.