---
title: "Z-Tech (India) Ltd (ZTECH) — Share Price, Financials & Analysis"
symbol: "ZTECH"
company: "Z-Tech (India) Ltd"
canonical: "https://tapetide.com/stocks/ZTECH"
isin: "INE0ISZ01012"
nse_symbol: "ZTECH"
sector: "Utilities"
industry: "Other Utilities"
market_cap_cr: 662.45
generated_at: "2026-09-13T20:08:02.370Z"
---

# Z-Tech (India) Ltd (ZTECH)

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

## Company

- **NSE Symbol:** ZTECH
- **ISIN:** INE0ISZ01012
- **Sector:** Utilities
- **Industry:** Other Utilities
- **Macro Sector:** Utilities
- **Stock Type:** EQUITY
- **Listed Since:** 2024-06-05
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** z-techindia.com

## About

Incorporated in 1994, Z-Tech (India) Ltd is in the business of design, development, and operations of theme-based city parks, industrial waste water management, and specialized geotechnical solutions[1]

## Latest Price

- **Price:** ₹434.95
- **Change:** -17.05 (-3.77%)
- **Open:** ₹458.95
- **Day High:** ₹458.95
- **Day Low:** ₹432
- **Previous Close:** ₹452
- **Volume:** 26400
- **As Of:** 2026-09-11T09:59:25+00:00

## Key Fundamentals

Observed at 2026-09-11T04:34:40.443832Z.

- **Market Cap:** ₹662.45 Cr
- **Classification:** SME
- **P/E (reported):** 18.2
- **P/E (TTM):** 17.04
- **EPS (TTM):** ₹25.52
- **Book Value:** ₹141.57
- **Price to Book:** 3.19
- **Dividend Yield:** 0%
- **ROE:** 11.47%
- **ROCE:** 15.95%
- **Debt to Equity:** 0.34
- **Revenue (yearly):** ₹94.8 Cr
- **Net Income:** ₹19.6 Cr
- **EBITDA:** ₹28.2 Cr
- **52-Week High:** ₹701
- **52-Week Low:** ₹447.1
- **RSI (14):** 32.64

## Tapetide Score

- **Score:** 51 / 100
- **Score date:** 2026-09-04
- **Archetype:** Expensive and Under Pressure
- **What it means:** The multiple is demanding and the trend has turned against it, without the financial strength that would justify paying up. What matters is whether the de-rating stops at the multiple or starts showing up in the numbers.
- **Pillar profile:** Quality: Average · Valuation: Expensive · Momentum: Falling
- **Percentile:** 52 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 72.85 | 9% |
| growth | 94.36 | 9% |
| momentum | 33.04 | 12% |
| ownership | 50 | 24% |
| quality | 50.71 | 22% |
| valuation | 35.19 | 24% |

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

## Key Insights

### Strengths

- Company is expected to give good quarter
- Company has delivered good profit growth of 126% CAGR over last 5 years

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -0.84%
- Company might be capitalizing the interest cost
- Company has high debtors of 220 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| ebitda margin growth | 73.08% | 69.96% | 142.54% | 504.88% |
| net income growth | 56.9% | 130.59% | 160% | 126% |
| revenue growth | 47.11% | 40.65% | 82% | 47% |
| roce | 74.61% | -67.75% | -42.02% | 21.56% |
| roe | 57.91% | -70.68% | 23.75% | 22.67% |

## Financial Statements

### Quarterly Results

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

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 18.59 | 15.83 | 22.14 | 16.23 | 19.04 | 24.14 | 34.99 | 20.48 | 34.5 | 41.99 | 58.83 | 29.14 |
| Expenses | 13.81 | 13.45 | 18.71 | 12.86 | 15.2 | 16.4 | 22.12 | 15.48 | 27.48 | 30.33 | 39.48 | 22.49 |
| Operating Profit | 4.78 | 2.38 | 3.43 | 3.37 | 3.84 | 7.74 | 12.87 | 5 | 7.02 | 11.66 | 19.35 | 6.65 |
| OPM % | 25.71 | 15.03 | 15.49 | 20.76 | 20.17 | 32.06 | 36.78 | 24.41 | 20.35 | 27.77 | 32.89 | 22.82 |
| Other Income | 0.39 | -0.36 | 0.03 | 0.01 | 0.27 | 0.08 | 0.03 | 0.1 | 1.33 | 0.27 | 3.89 | 2.05 |
| Interest | 0.02 | 0.02 | 0.04 | 0.01 | 0.03 | 0.02 | 0.03 | 0.09 | 0.19 | 0.13 | 1.48 | 1.47 |
| Depreciation | 0.15 | 0.2 | 0.16 | 0.17 | 0.17 | 0.17 | 0.14 | 0.25 | 0.26 | 0.37 | 1.13 | 1.18 |
| Profit before tax | 5 | 1.8 | 3.26 | 3.2 | 3.91 | 7.63 | 12.73 | 4.76 | 7.9 | 11.43 | 20.63 | 6.05 |
| Tax % | 26.4 | 41.11 | 17.18 | 26.25 | 23.27 | 24.51 | 33.23 | 35.92 | 23.29 | 33.33 | 7.22 | 33.06 |
| Net Profit | 3.68 | 1.06 | 2.69 | 2.35 | 3 | 5.76 | 8.5 | 3.04 | 6.06 | 7.62 | 19.14 | 4.05 |
| EPS in Rs | — | 1.13 | 2.86 | 1.84 | 2.34 | 4.5 | 5.93 | 2.12 | 4.23 | 5.27 | 13.24 | 2.78 |

### Profit & Loss

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 23 | 31 | 26 | 67 | 94 | 156 | 164 |
| Expenses | 22 | 30 | 23 | 56 | 66 | 113 | 120 |
| Operating Profit | 1 | 0 | 3 | 12 | 28 | 43 | 45 |
| OPM % | 3.5 | 1.1 | 12 | 17 | 30 | 28 | 27 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 6 | 8 |
| Interest | 0 | 0 | 0 | 0 | 0 | 2 | 3 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 2 | 3 |
| Profit before tax | 1 | 0 | 3 | 11 | 27 | 45 | 46 |
| Tax % | 27 | 50 | 27 | 24 | 29 | 20 | — |
| Net Profit | 1 | 0 | 2 | 8 | 20 | 36 | 37 |
| EPS in Rs | — | — | — | 8.99 | 13.68 | 24.8 | 25.52 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 1 | 1 | 1 | 9 | 14 | 14 |
| Reserves | 8 | 8 | 10 | 13 | 157 | 209 |
| Borrowings | 1 | 1 | 1 | 1 | 2 | 75 |
| Other Liabilities | 9 | 9 | 11 | 19 | 34 | 39 |
| Total Liabilities | 20 | 20 | 24 | 43 | 207 | 338 |
| Fixed Assets | 1 | 1 | 1 | 4 | 10 | 59 |
| CWIP | 0 | 0 | 0 | 0 | 29 | 24 |
| Investments | 1 | 1 | 1 | 1 | 0 | 0 |
| Other Assets | 19 | 18 | 22 | 38 | 168 | 255 |
| Total Assets | 20 | 20 | 24 | 43 | 207 | 338 |

### Cash Flow

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

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1 | 2 | 0 | 0 | -91 | -38 |
| Cash from Investing Activity | 0 | -1 | -1 | -3 | -35 | -41 |
| Cash from Financing Activity | 0 | 0 | 0 | 4 | 129 | 88 |
| Net Cash Flow | -1 | 1 | -1 | 1 | 3 | 9 |
| Free Cash Flow | -2 | 1 | -1 | -3 | -127 | -84 |
| CFO/OP | -147 | 506 | 25 | 26 | -300 | -66 |

### Ratios

| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 196 | 145 | 214 | 155 | 189 | 220 |
| Inventory Days | 22 | 8 | 21 | 8 | 15 | 14 |
| Days Payable | 150 | 122 | 186 | 110 | 167 | 118 |
| Cash Conversion Cycle | 68 | 31 | 48 | 53 | 37 | 117 |
| Working Capital Days | 130 | 80 | 126 | 83 | 471 | 310 |
| ROCE % | — | 2 | 25 | 61 | 28 | 20 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 60.75% | 60.75% | 60.75% | 54.25% | 54.25% | 53.18% | 53.54% | 53.54% | 53.54% |
| FIIs | 6.74% | 1.73% | 1.21% | 0% | 0% | 1.04% | 3.77% | 4.47% | 4.47% |
| DIIs | 0.2% | 0.06% | 0% | 0% | 0% | 0% | 0.37% | 0.37% | 0.37% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 23.74% | 33.02% | 31.93% | 34.36% | 37.95% | 33.25% | 34.95% | 33.57% | 32.83% |
| Others | 8.58% | 4.45% | 6.12% | 11.39% | 7.8% | 12.53% | 7.37% | 8.06% | 8.79% |
| No. of Shareholders | 52 | 1126 | 1417 | 1517 | 1979 | 2095 | 2008 | 2004 | 2263 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 5 / 2 / 12

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 472.47 | Sell |
| EMA (10) | 466.34 | Sell |
| SMA (20) | 482.39 | Sell |
| EMA (20) | 481.31 | Sell |
| SMA (50) | 520.46 | Sell |
| EMA (50) | 513.21 | Sell |
| SMA (100) | 562.77 | Sell |
| EMA (100) | 537.61 | Sell |
| SMA (200) | 561.03 | Sell |
| EMA (200) | 554.07 | Sell |

### Oscillators — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 28.65 | Buy |
| MACD (12,26,9) | -19.2 | Sell |
| Stochastic (14,3,3) | 12.58 | Buy |
| ADX (14) | 41.88 | Buy |
| Williams %R (14) | -96.4 | Buy |
| ATR (14) | 20.7 | High Volatility |
| ROC (12) | -11.32 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 33.65 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Sep - Newspaper advertisement for 32nd AGM on September 30, 2026, with e-voting and book closure details. | [Copy of Newspaper Publication 9 Sep - Newspaper advertisement for 32nd AGM on September 30, 2026, with e-voting and book closure details.](https://nsearchives.nseindia.com/corporate/ZTECH_09092026172559_Newspaper_publication_agm_notice.pdf) |
| 9 April 2026 - Filed Regulation 74(5) compliance certificate for quarter ended March 31, 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 April 2026 - Filed Regulation 74(5) compliance certificate for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/ZTECH_09042026111018_certificate_merged.pdf) |
| 8 Sep - Book closure 24-30 Sept 2026; AGM on 30 Sept 2026, e-voting from 27-29 Sept. | [General Updates 8 Sep - Book closure 24-30 Sept 2026; AGM on 30 Sept 2026, e-voting from 27-29 Sept.](https://nsearchives.nseindia.com/corporate/ZTECH_08092026191245_intimation_to_cutoff.pdf) |
| 8 Sep - Board approved AGM items and allotted 3,95,200 shares on warrant conversion for Rs.14.82 crore. | [Outcome of Board Meeting 8 Sep - Board approved AGM items and allotted 3,95,200 shares on warrant conversion for Rs.14.82 crore.](https://nsearchives.nseindia.com/corporate/ZTECH_08092026190612_Outcome_of_Meeting.pdf) |
| 8 Sep - Annual report access letter dispatched; AGM on September 30, 2026, with remote e-voting dates announced. | [General Updates 8 Sep - Annual report access letter dispatched; AGM on September 30, 2026, with remote e-voting dates announced.](https://nsearchives.nseindia.com/corporate/ZTECH_08092026193349_EMAIL_NOT_REG_ZTECH.pdf) |
| 8 Sep - 32nd AGM on September 30, 2026; annual report for FY 2025-26 released. | [Shareholders meeting 8 Sep - 32nd AGM on September 30, 2026; annual report for FY 2025-26 released.](https://nsearchives.nseindia.com/corporate/ZTECH_08092026191733_notice_of_32nd_agm_final.pdf) |
| 7 Aug - Tawi Wonderland Park inaugurated in Jammu on August 7, 2026, expanding Z-Tech’s footprint. | [Press Release 7 Aug - Tawi Wonderland Park inaugurated in Jammu on August 7, 2026, expanding Z-Tech’s footprint.](https://nsearchives.nseindia.com/corporate/ZTECH_07082026104615_press_release_inauguation_of_wonderland_jammu.pdf) |
| 6 July 2026 - NSE approved listing of 1,01,200 warrant-conversion shares; capital rose to Rs.14,55,94,480 from July 7, 2026. | [General Updates 6 July 2026 - NSE approved listing of 1,01,200 warrant-conversion shares; capital rose to Rs.14,55,94,480 from July 7, 2026.](https://nsearchives.nseindia.com/corporate/ZTECH_06072026165138_INTIMATION_LETTER_NSE_FOR_TRADING_APPROVAL.pdf) |
| 5 June 2026 - Promoters confirm nil encumbrance or pledged shares as of March 31, 2026. | [Disclosure under SEBI Takeover Regulations 5 June 2026 - Promoters confirm nil encumbrance or pledged shares as of March 31, 2026.](https://nsearchives.nseindia.com/corporate/team_bbodade_30042026182327_ZTECH.pdf) |
| 5 Aug - NSE approved listing of 205,000 warrant-converted shares from Aug. 6, 2026; capital rises to ₹14.76 crore. | [General Updates 5 Aug - NSE approved listing of 205,000 warrant-converted shares from Aug. 6, 2026; capital rises to ₹14.76 crore.](https://nsearchives.nseindia.com/corporate/ZTECH_05082026180928_Intimation_Trading_Approval_205000.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31914_ZTECH_2025_2026_A_7422372_08092026190231.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28695_ZTECH_2024_2025_A_4710437_05092025213245.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jun 2025 | [Concall - Jun 2025](https://nsearchives.nseindia.com/corporate/ZTECH_06062025162445_ilovepdf_merged__9_.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://nsearchives.nseindia.com/corporate/ZTECH_12022025235202_Investor_Presentation_december.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://nsearchives.nseindia.com/corporate/ZTECH_17022025155643_ilovepdf_merged__4_.pdf) |
| Dec 2025 | [Concall - Dec 2025](https://nsearchives.nseindia.com/corporate/ZTECH_16122025173237_intimation16122025.pdf) |
| Dec 2024 | [Concall - Dec 2024](https://nsearchives.nseindia.com/corporate/ZTECH_16112024165127_Transcript_Intimation_September.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://nsearchives.nseindia.com/corporate/ZTECH_17082024142941_Transcriptintimation.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 2026-09-13T20:08:02.370Z.