---
title: "Zenith Drugs Ltd (ZENITHDRUG) — Share Price, Financials & Analysis"
symbol: "ZENITHDRUG"
company: "Zenith Drugs Ltd"
canonical: "https://tapetide.com/stocks/ZENITHDRUG"
isin: "INE0QWN01013"
nse_symbol: "ZENITHDRUG"
sector: "Healthcare"
industry: "Pharmaceuticals & Biotechnology"
market_cap_cr: 79.48
generated_at: "2026-09-13T19:03:40.386Z"
---

# Zenith Drugs Ltd (ZENITHDRUG)

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

## Company

- **NSE Symbol:** ZENITHDRUG
- **ISIN:** INE0QWN01013
- **Sector:** Healthcare
- **Industry:** Pharmaceuticals & Biotechnology
- **Macro Sector:** Healthcare
- **Stock Type:** EQUITY
- **Listed Since:** 2024-02-27
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** zenithdrugs.com

## About

Incorporated in 2000, Zenith Drugs Ltd is in the business of manufacturing 
and trading of medicines[1]

## Latest Price

- **Price:** ₹47.85
- **Change:** +1.5 (+3.24%)
- **Open:** ₹46.5
- **Day High:** ₹47.85
- **Day Low:** ₹46.5
- **Previous Close:** ₹46.35
- **Volume:** 3200
- **As Of:** 2026-09-11T09:55:33+00:00

## Key Fundamentals

Observed at 2026-09-11T04:37:49.445673Z.

- **Market Cap:** ₹79.48 Cr
- **Classification:** SME
- **P/E (reported):** 20.1
- **Book Value:** ₹43.69
- **Price to Book:** 1.06
- **Dividend Yield:** 1.08%
- **ROE:** 15.48%
- **ROCE:** 23.19%
- **Debt to Equity:** 0.73
- **Revenue (yearly):** ₹133.7 Cr
- **Net Income:** ₹9.6 Cr
- **EBITDA:** ₹19 Cr
- **52-Week High:** ₹73.45
- **52-Week Low:** ₹33.3
- **RSI (14):** 54.72

## Tapetide Score

- **Score:** 56 / 100
- **Score date:** 2026-09-04
- **Archetype:** Out of Favour
- **What it means:** Financially sound, yet the market is not rewarding it. Cases like this usually need a specific reason the pessimism is misplaced, and patience for that reason to play out.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Falling
- **Percentile:** 74.1 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 17.57 | 9% |
| growth | 76.68 | 9% |
| momentum | 43.23 | 12% |
| ownership | 50 | 24% |
| quality | 75.8 | 22% |
| valuation | 62.76 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 1.10 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 12.4% over last 3 years.
- Earnings include an other income of Rs.4.88 Cr.
- Company has high debtors of 156 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -172.75% | -352.62% | -251.63% |
| ebitda margin growth | 60.07% | 68.2% | — |
| net income growth | 95.92% | -5% | 6% |
| revenue growth | 15.46% | 14% | 19% |
| roce | -32.19% | -21.68% | — |
| roe | -43.75% | 22.95% | — |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 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 |
| OPM % | 16 | 9 | 10 | 10 | 8 | 6 |
| 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 % | 25 | 32 | 0 | 59 | 0 | 48 |
| Net Profit | 6 | 4 | 6 | 1 | 2 | 2 |
| EPS in Rs | 4.75 | 2.24 | 3.34 | 0.84 | 1.36 | 0.94 |

### Profit & Loss

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 78 | 72 | 92 | 115 | 131 | 132 | 171 |
| Expenses | 71 | 64 | 85 | 105 | 114 | 119 | 159 |
| Operating Profit | 7 | 7 | 7 | 9 | 17 | 14 | 12 |
| OPM % | 9 | 10 | 8 | 8 | 13 | 10 | 7 |
| Other Income | 0 | 0 | 1 | 1 | 1 | 2 | 5 |
| Interest | 1 | 1 | 2 | 2 | 3 | 4 | 6 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 3 | 6 |
| Profit before tax | 5 | 5 | 4 | 7 | 13 | 9 | 5 |
| Tax % | 30 | 33 | 27 | 27 | 28 | 23 | 27 |
| Net Profit | 3 | 3 | 3 | 5 | 10 | 7 | 4 |
| EPS in Rs | — | — | — | — | 5.56 | 4.18 | 2.3 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 9 | 0 | 0 |

### Balance Sheet

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.4 | 0.4 | 0.4 | 0.4 | 17 | 17 | 17 |
| Reserves | 6 | 9 | 12 | 17 | 45 | 52 | 58 |
| Borrowings | 12 | 15 | 17 | 25 | 24 | 49 | 55 |
| Other Liabilities | 25 | 21 | 37 | 54 | 48 | 44 | 57 |
| Total Liabilities | 44 | 47 | 66 | 97 | 134 | 161 | 188 |
| Fixed Assets | 6 | 9 | 10 | 11 | 11 | 40 | 41 |
| CWIP | 3 | 0 | 0 | 0 | 4 | 3 | 10 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 35 | 37 | 56 | 86 | 119 | 118 | 136 |
| Total Assets | 44 | 47 | 66 | 97 | 134 | 161 | 188 |

### Cash Flow

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

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 3 | -1 | 5 | -4 | -16 | -5 | 9 |
| Cash from Investing Activity | -5 | -2 | -3 | -2 | -5 | -31 | -14 |
| Cash from Financing Activity | 1 | 3 | -1 | 6 | 30 | 28 | 5 |
| Net Cash Flow | 0 | 0 | 1 | 0 | 9 | -8 | 0 |
| Free Cash Flow | -1 | -2 | 2 | -6 | -21 | -37 | -5 |
| CFO/OP | 71 | 7 | 88 | -27 | -70 | -25 | 86 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 119 | 119 | 128 | 157 | 188 | 167 | 156 |
| Inventory Days | 29 | 52 | 61 | — | 249 | 277 | 126 |
| Days Payable | 155 | 155 | 173 | — | 412 | 281 | 166 |
| Cash Conversion Cycle | -7 | 17 | 16 | 157 | 25 | 163 | 117 |
| Working Capital Days | 14 | 24 | 21 | 39 | 111 | 98 | 77 |
| ROCE % | — | 28 | 24 | 25 | 28 | 13 | 9 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 69.98% | 69.98% | 69.98% | 69.98% | 69.98% |
| FIIs | 0% | 5.81% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 15.2% | 25.57% | 25.56% | 25.25% | 24.73% |
| Others | 0% | 9.02% | 4.45% | 4.46% | 4.77% | 5.29% |
| No. of Shareholders | 7 | 1117 | 1355 | 1544 | 1466 | 1435 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 6 / 2

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 44.27 | Buy |
| EMA (10) | 45.36 | Buy |
| SMA (20) | 43.56 | Buy |
| EMA (20) | 44.61 | Buy |
| SMA (50) | 46.41 | Buy |
| EMA (50) | 44.84 | Buy |
| SMA (100) | 44.38 | Buy |
| EMA (100) | 45.34 | Buy |
| SMA (200) | 46.2 | Buy |
| EMA (200) | 48.72 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 57.75 | Neutral |
| MACD (12,26,9) | 0.44 | Buy |
| Stochastic (14,3,3) | 68.15 | Neutral |
| ADX (14) | 21.73 | Neutral |
| Williams %R (14) | -28.12 | Neutral |
| ATR (14) | 2.37 | High Volatility |
| ROC (12) | 14.2 | Buy |
| Stoch RSI (14) | 83.63 | Sell |
| UO (7,14,28) | 56.9 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 June 2026 - Zenith Drugs won KSMSCL tender for 29,10,826 Montelukast-Levocetirizine syrup bottles worth ₹4.11 crore. | [General Updates 9 June 2026 - Zenith Drugs won KSMSCL tender for 29,10,826 Montelukast-Levocetirizine syrup bottles worth ₹4.11 crore.](https://nsearchives.nseindia.com/corporate/ZENITH_09062026134002_News_Update.pdf) |
| 8 Sep - Unreadable newspaper OCR; company announcement not identifiable. | [Copy of Newspaper Publication 8 Sep - Unreadable newspaper OCR; company announcement not identifiable.](https://nsearchives.nseindia.com/corporate/ZENITH_08092026183859_Intimation_of_Newspaper_Publication.pdf) |
| 8 June 2026 - Zenith Drugs established a new Mother Depot in Bengaluru to strengthen South India distribution. | [General Updates 8 June 2026 - Zenith Drugs established a new Mother Depot in Bengaluru to strengthen South India distribution.](https://nsearchives.nseindia.com/corporate/ZENITH_08062026134454_News_Update.pdf) |
| 8 April 2026 - Sandeep Bhardwaj, Ajay Singh Dassundi, Bhupesh Soni has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of … | [Disclosure under SEBI Takeover Regulations 8 April 2026 - Sandeep Bhardwaj, Ajay Singh Dassundi, Bhupesh Soni has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of …](https://nsearchives.nseindia.com/corporate/team_sandeshc_07042026110407_Reg9.pdf) |
| 6 February 2026 - Awarded tender by MPPHCL to supply Itraconazole capsules; order value ₹87.98 Lacs (06-Feb-2026). | [General Updates 6 February 2026 - Awarded tender by MPPHCL to supply Itraconazole capsules; order value ₹87.98 Lacs (06-Feb-2026).](https://nsearchives.nseindia.com/corporate/ZENITH_06022026135415_News_Update.pdf) |
| 5 Sep - Board approved 26th AGM notice for 29 Sept 2026 and appointed secretarial auditor, scrutinizer. | [Outcome of Board Meeting 5 Sep - Board approved 26th AGM notice for 29 Sept 2026 and appointed secretarial auditor, scrutinizer.](https://nsearchives.nseindia.com/corporate/ZENITH_05092026130633_Outcome.pdf) |
| 5 Sep - 26th AGM on September 29, 2026; approvals sought for audited accounts, borrowing up to ₹200 crore, and director remuneration. | [Shareholders meeting 5 Sep - 26th AGM on September 29, 2026; approvals sought for audited accounts, borrowing up to ₹200 crore, and director remuneration.](https://nsearchives.nseindia.com/corporate/ZENITH_05092026131234_Covering_Letter_Notice_of_AGM.pdf) |
| 5 May 2026 - Zenith Drugs won ₹45.63 lakh tender to supply 5,14,447 Mupirocin Ointment tubes. | [General Updates 5 May 2026 - Zenith Drugs won ₹45.63 lakh tender to supply 5,14,447 Mupirocin Ointment tubes.](https://nsearchives.nseindia.com/corporate/ZENITH_05052026135952_News_Update.pdf) |
| 5 February 2026 - Clarifies IPO proceeds Rs.3,595.55 lakhs fully utilized by Sep 30, 2024; revised deviation filed Nov 14, 2024. | [Reply to Clarification- Financial results 5 February 2026 - Clarifies IPO proceeds Rs.3,595.55 lakhs fully utilized by Sep 30, 2024; revised deviation filed Nov 14, 2024.](https://nsearchives.nseindia.com/corporate/ZENITH_14012026120856_Clarification_Letter.pdf) |
| 30 March 2026 - Trading window closed Apr 01, 2026 until 48 hours after audited results for FY/H1 ending Mar 31, 2026. | [Trading Window 30 March 2026 - Trading window closed Apr 01, 2026 until 48 hours after audited results for FY/H1 ending Mar 31, 2026.](https://nsearchives.nseindia.com/corporate/ZENITH_30032026131339_Trading_Window_Closure_Letter.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31739_ZENITHDRUG_2025_2026_A_4061078_07092026181607.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28447_ZENITHDRUG_2024_2025_A_13178144_04092025181334.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26279_ZENITHDRUG_2023_2024_0210202411248.pdf) |

---

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 2026-09-13T19:03:40.386Z.