Zenith Exports Limited (ZENITHEXPO)

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Zenith Exports Limited (ZENITHEXPO) · mywealthgrid

About

Zenith Exports Limited operates in Leather And Leather Products within the Consumer Discretionary sector.

Face value: ₹10

Market cap

₹110 Cr

P/E

378.1×

P/B

1.3×

Dividend yield

ROE

2.8%

ROCE

4.6%

Debt / equity

0.03

OPM

0.2%

EPS (TTM)

₹0.5

Book value

₹155.8

52-week high

—

52-week low

—

2,304 historical price candles were omitted because the exchange source has not been verified.

₹203.0+1.8%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)

Cons

−Low return on equity of 1.7% (3-yr avg)
−Thin operating margin of 0.2%
−Modest revenue growth of 5% a year over the last 5 years
−Expensive at 378.1× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

29/100

Business quality: 27
Growth: 12
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	226	124	110	99	83	51	91	62	82	72	65
COGS	-174	-89	73	60	54	29	61	35	49	44	31
Gross profit	—	—	37	38	29	22	29	27	33	28	34
	416	220	37	41	33	24	29	28	34	33	34
	-15	-7	0	-3	-5	-2	0	-1	-1	-4	0
OPM %	-6.6%	-5.3%	0.3%	-3%	-5.6%	-4.8%	0%	-0.8%	-1.5%	-6.2%	0.2%
Depreciation	—	1	1	2	2	2	1	1	1	1	1
Interest	2	0	1	1	1	1	1	1	1	1	1
	1	1	0	-4	6	4	3	4	4	9	5
Profit before tax	0	-2	-2	-10	-2	-2	1	2	1	2	3
Tax	-0	-1	0	-2	-0	-0	0	0	0	1	1
Tax %	-433.3%	-27.5%	5%	-19.5%	-15.7%	-19.4%	25.2%	21%	54.6%	28.8%	29.5%
	0	-2	-2	-8	-2	-1	1	2	0	2	2
PAT margin %	0.1%	-1.7%	-1.7%	-8%	-1.9%	-2.5%	1.1%	2.5%	0.4%	2.4%	3.5%
EPS (₹)	0.3	—	3.5	-14.6	-2.9	-2.4	1.9	2.9	1.1	3.2	4.2
EPS adjusted (₹)	0.3	-3.9	—	—	—	-2.4	1.9	2.9	0.6	3.2	4.2
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	5	5	5	5	5	5	5	5
Reserves	87	85	72	73	74	75	77	79
	13	7	8	14	9	6	8	2
	16	14	11	10	11	10	11	12
Total equity & liabilities	121	110	96	102	100	96	101	98
	23	21	13	12	10	9	16	16
CWIP	—	—	0	—	0	0	0	0
Investments	0	4	0	1	1	1	2	15
	98	86	83	89	89	85	83	67
Total assets	121	110	96	102	100	96	101	98

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Indutrial Leather Hand Gloves/ Made-ups	42.57	-0.38	24.9	0.83	24.07	-1.58
EOU-Silk Fabrics	12.73	1.24

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	38.8%	34.5%	43.2%	32.2%	43.4%	39.9%	38.9%	52.1%
EBITDA margin %	-3%	-5.6%	-4.8%	0%	-0.8%	-1.5%	-6.2%	0.2%
EBIT margin %	-4.6%	-7.7%	-8%	-1.4%	-2.9%	-2.8%	-7.4%	-0.9%
PAT margin %	-8%	-1.9%	-2.5%	1.1%	2.5%	0.4%	2.4%	3.5%
Working capital
Receivable days	—	—	68	56	54	64	89	86
Inventory days	—	—	356	236	287	207	199	305
Payable days	—	—	85	31	62	42	47	61
NWC days	—	—	339	261	279	229	241	330
Leverage
Current ratio	—	—	4.3	3.81	3.88	5.52	4.74	5.9
Debt to EBITDA	—	—	—	345	—	—	—	16.31
Debt to equity	—	—	0.1	0.18	0.12	0.07	0.09	0.03
Interest coverage	-2.2	-0.7	-0.1	2.5	4.1	1.7	-1.5	5.8
Asset turnover	—	—	0.53	0.89	0.62	0.85	0.71	0.66
Return ratios
Return on assets %	—	—	-1.3%	1%	1.6%	0.3%	1.7%	2.3%
Return on capital employed %	—	—	-0.1%	2.8%	3.3%	1.9%	-1.5%	4.6%
Return on equity %	—	—	-1.7%	1.3%	2%	0.4%	2.1%	2.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.75%	51.75%	45.54%	45.54%	45.54%	45.54%	45.54%	45.54%	45.54%	45.54%	45.54%	45.54%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	48.25%	48.25%	54.46%	54.46%	54.46%	54.46%	54.46%	54.46%	54.46%	54.46%	54.46%	54.46%
No. of shareholders	—	—	—	—	—	—	—	—	2,527	2,466	2,420	2,416

Promoter holding down 6.21 percentage points since Sep 2023.

Mr. VARUN LOYALKAExecutive Director-MD
Mrs. URMILA LOYALKANon-Executive - Non Independent Director
Mr. RABINDRA KUMAR SARWGEENon-Executive - Independent Director-Shareholder Director
Mr. KAMAL KOOMAR JAINNon-Executive - Independent Director-Shareholder Director
Mrs. PRIYANKA PODDARNon-Executive - Independent Director-Shareholder Director
Mrs. RASNA GOYALNon-Executive - Independent Director-Shareholder Director
Mr. SURENDRA KUMAR LOYALKAChief Executive Officer (Silk Division)
Ms. Anita Kumari GuptaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Zenith Exports Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results12 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

7 announcementsExport CSV

18 Sept 2026, 5:27 pmInsider Trading / SAST

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011

Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011 PDF

3 Sept 2026, 12:29 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

2 Sept 2026, 7:55 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

2 Sept 2026, 7:48 pmAGM/EGM

Submission Of Notice Of The 44Th Annual General Meeting (AGM) And The Annual Report Of The Company For The Financial Year 2025-26

AGM PDF

25 Aug 2026, 12:10 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

11 Aug 2026, 5:30 pmCompany Update

Intimation Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

4 Jul 2026, 12:52 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

Date	Category	Subject	Filing
18 Sept 2026, 5:27 pm	Insider Trading / SAST Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Reg. 2011	Disclosures under Reg. 10(5) in respect of acquisition under Reg. 10(1)(a) of SEBI (SAST) Regulations, 2011	PDF
3 Sept 2026, 12:29 pm	Company Update Newspaper Publication

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	38.8%	34.5%	43.2%	32.2%	43.4%	39.9%	38.9%	52.1%
EBITDA margin %	-3%	-5.6%	-4.8%	0%	-0.8%	-1.5%	-6.2%	0.2%
EBIT margin %	-4.6%	-7.7%	-8%	-1.4%	-2.9%	-2.8%	-7.4%	-0.9%
PAT margin %	-8%	-1.9%	-2.5%	1.1%	2.5%	0.4%	2.4%	3.5%
Working capital
Receivable days	—	—	68	56	54	64	89	86
Inventory days	—	—	356	236	287	207	199	305
Payable days	—	—	85	31	62	42	47	61
NWC days	—	—	339	261	279	229	241	330
Leverage
Current ratio	—	—	4.3	3.81	3.88	5.52	4.74	5.9
Debt to EBITDA	—	—	—	345	—	—	—	16.31
Debt to equity	—	—	0.1	0.18	0.12	0.07	0.09	0.03
Interest coverage	-2.2	-0.7	-0.1	2.5	4.1	1.7	-1.5	5.8
Asset turnover	—	—	0.53	0.89	0.62	0.85	0.71	0.66
Return ratios
Return on assets %	—	—	-1.3%	1%	1.6%	0.3%	1.7%	2.3%
Return on capital employed %	—	—	-0.1%	2.8%	3.3%	1.9%	-1.5%	4.6%
Return on equity %	—	—	-1.7%	1.3%	2%	0.4%	2.1%	2.7%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Mayur Uniquoters LtdMAYURUNIQMAYURUNIQ	₹3,095 Cr	₹3,101 Cr	₹1,020 Cr	₹251 Cr	24.3%	₹207 Cr	19.8%	24.6%	18.4%	197
Kothari Industrial Corporation LimitedKOTICKOTIC	₹1,589 Cr	₹1,589 Cr	₹10 Cr	—	—	₹-20 Cr	-206.4%	—	—	220
Bhartiya International LimitedBILBIL	₹1,323 Cr	₹1,855 Cr	₹1,451 Cr	₹129 Cr	8.9%	₹26 Cr	1%	16.9%	2.9%	262
Mirza International LimitedMIRZAINTMIRZAINT	₹382 Cr	₹397 Cr	₹514 Cr	₹8 Cr	3.4%	₹-22 Cr	-0.1%	-1.8%	-0.1%	142
Superhouse LimitedSUPERHOUSESUPERHOUSE	₹170 Cr	₹351 Cr	₹677 Cr	₹45 Cr	6.1%	₹8 Cr	0.5%	5.5%	0.8%	212
Zenith Exports LimitedZENITHEXPOZENITHEXPO	₹110 Cr	₹112 Cr	₹60 Cr	₹-2 Cr	0.2%	₹0 Cr	3.5%	4.6%	2.8%	330
Anka India LtdANKINANKIN	₹94 Cr	₹94 Cr	₹0 Cr	₹0 Cr	—	₹-0 Cr	—	-17.5%	-17.8%	-16
Super Tannery LtdSUPTANERYSUPTANERY	₹87 Cr	₹156 Cr	₹285 Cr	₹20 Cr	6.9%	₹7 Cr	2.3%	12.1%	6.6%	82
Aki India LimitedAKIAKI	₹64 Cr	₹85 Cr	₹119 Cr	₹-3 Cr	-3.9%	₹3 Cr	1.8%	5.6%	2.3%	214
Aritas Vinyl LtdARITASARITAS	₹26 Cr	₹57 Cr	₹101 Cr	₹9 Cr	9%	₹5 Cr	4.7%	13.1%	8.6%	251
Amin Tannery LtdAMINTANAMINTAN	₹21 Cr	₹49 Cr	₹27 Cr	₹3 Cr	7.1%	₹0 Cr	0.6%	15.7%	1.7%	559
Welterman International LtdWELTIWELTI	₹10 Cr	₹16 Cr	₹2 Cr	₹-0 Cr	—	₹-0 Cr	—	—	—	—

₹ Cr	Mar 2016	Mar 2017	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	19	16	17	4	-15	19	-7	-3	5
	4	-3	-10	1	11	-16	17	-4	1
	-21	-6	-6	-3	5	-5	-5	1	-6
Net cash flow	1	7	1	2	2	-1	6	-6	-0
Free cash flow	—	—	16	3	-15	19	-7	-6	4
CFO / Operating profit %	—	—	—	—	—	—	—	—	—

Zenith Exports Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

Announcements

Not in the F&O segment

1

No fund holdings on record

Announcements

Annual reports

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

EOU - Silk Fabrics · revenue

Zenith Exports Limited

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Ratio timeline

Quarterly record

Board and management

Not in the F&O segment

Board meetings1

No fund holdings on record

Announcements

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

EOU - Silk Fabrics · revenue

1

1