Zuari Industries

NSE: ZUARIIND · Sugar

52W Range₹210 ₹416

Snapshot

Unlock Zuari Industries's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Zuari Industries Limited is a diversified Indian conglomerate operating across eight segments, including engineering services, sugar production, ethanol manufacturing, real estate, and furniture. The company also provides various financial services, such as investment consultancy, insurance broking, and stock broking.

Business Model

The company generates revenue through a multi-sectoral approach, leveraging industrial engineering projects, agricultural processing of sugar and ethanol, and real estate development. Additionally, it earns fees and commissions through its diversified portfolio of financial and management consultancy services.

Growth Outlook

Growth is primarily driven by the expansion of its ethanol production capacity and the execution of complex engineering and infrastructure projects. The company also seeks to leverage its diversified service offerings to capture opportunities in the Indian real estate and financial markets.

Key Risks

  • Commodity Price Volatility. Fluctuations in sugar and molasses prices directly impact the profitability of the company's sugar and ethanol segments.
  • Regulatory Risk. The sugar and ethanol industries are subject to significant government intervention, including pricing controls and export policies.
  • Project Execution Risk. The engineering and real estate segments are susceptible to delays, cost overruns, and cyclical demand shifts in the infrastructure sector.
  • Market Risk. The company's financial services division is exposed to volatility in capital markets and changes in investor sentiment.

Price

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Key Metrics

P/E

7.3x

Q4 FY26 · consolidated

7.3 vs 37.8x5Y avg

EV/EBITDA

18.4x

Q4 FY26 · consolidated

18.4 vs 11.1x5Y avg

NET PROFIT MARGIN

-11.1%

Q4 FY26 · consolidated

-3.5 ppYoY

DEBT TO EQUITY

0.7x

Q4 FY26 · consolidated

+0.22xYoY

Peers · Sugar

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Zuari IndustriesZUARIIND
6617.3218.3817.3%2.3%2.1%-1.9%
Uttam Sug.MillsUTTAMSUGAR
8588.926.7719.3%10.8%12.4%18.1%-19.5%
Dhampur SugarDHAMPURSUG
78214.229.135.7%7.0%5.6%9.4%-6.8%
Dwarikesh SugarDWARKESH
71226.1511.973.2%6.7%3.8%5.8%-10.7%
Dhampur BioDBOL
64510.357.6916.4%7.3%27.0%51.9%+8.8%
Magadh SugarMAGADSUGAR
6178.617.92-5.9%14.4%10.0%13.7%-22.2%

As of Q4 FY26

Financials