Zodiac Energy Reports FY26 Earnings Update Amid Revenue and EBITDA Growth
Zodiac Energy Ltd has released its Investor Presentation detailing its financial performance for FY26, highlighting growth across revenue streams, operational achievements, and improved financial metrics. The company demonstrated a strong focus on both EPC (Engineering, Procurement and Construction) projects and the Independent Power Producer (IPP) segment during the fiscal year.Financial Performance Highlights
The company recorded robust growth in key financial indicators for FY26. Revenue from operations grew by 33% year-over-year (YoY), reaching ₹543.5 crore, compared to ₹407.8 crore in FY25. EBITDA saw a significant increase of 50% YoY, rising to ₹55.3 crore, achieving an EBIDTA margin of 10.2%.Profit after tax (PAT) for the company was ₹21.0 crore in FY26, showing a slight improvement of 5% YoY and stabilizing at a PAT Margin of 3.9%. Cash PAT increased to ₹31.0 crore in FY26 from ₹22.7 crore in FY25.
Key metrics reflecting improvements across the fiscal year include:
- Debtor days: Improved to 57 days, down from 61 days in FY25.
- Cash conversion days: Increased to 94 days from 83 days in FY25.
- Net debt/equity ratio: Improved to 1.9x, compared to 1.8x in FY25.
A detailed look at the income statement data is provided below (all figures in ₹ crores unless otherwise noted):
| Metric | Q4 FY25 | Q4 FY26 | YoY Change | FY25 | FY26 | YoY Change |
|---|---|---|---|---|---|---|
| Revenue from operations | 171.3 | 211.1 | 23% | 407.8 | 543.5 | 33% |
| EBIDTA | 17.6 | 22.0 | 25% | 37.0 | 55.3 | 50% |
| EBIDTA Margin | 10.3% | 10.4% | 16 bps | 9.1% | 10.2% | 114 bps |
| Profit after tax | 9.4 | 10.6 | 13% | 20.0 | 21.0 | 5% |
| PAT Margin | 5.5% | 5.0% | - 48 bps | 4.9% | 3.9% | - 104 bps |
Operational and Strategic Updates
Zodiac Energy continued to strengthen its EPC track record through strategic commissions and order acquisition. During FY26, the company successfully commissioned 65.7 MW of C&I projects. Furthermore, a 6 MW ground-mounted solar project was commissioned in Zambia. The company also reports having a robust order pipeline totaling ₹382.3 crore pending.Management commentary highlighted several strategic focuses:
- Market Position: Reinforcing its standing as an export-oriented EPC player with operations across Africa.
- Growth Areas: Continuing to scale the ground-mounted business while selectively deepening presence in rooftop projects.
- Future Focus: Scaling Business Energy Storage System (BESS) execution to capitalize on the 20–25% CAGR opportunity within the energy storage market.
- Outlook: The company set a revenue target of ₹1,000 crore by FY29, driven by Zenwatt-led expansion.
Balance Sheet Health
The balance sheet reflects significant growth in assets and liabilities. Total assets increased to 329.7 crore in FY26 from 302.4 crore in FY25. In terms of equity and liabilities, total commitments stood at ₹482.4 crore in FY26 compared to ₹302.4 crore in FY25.A summary of the balance sheet metrics for both years is as follows:
| Financial Metric | FY25 (crores) | FY26 (crores) |
|---|---|---|
| Total Assets | 302.4 | 329.7 |
| Non-current assets | 117.0 | - |
| Current assets | 185.4 | 45.4 |
| Total Equity and Liabilities | 302.4 | 482.4 |
ZODIAC Stock Price Movement
Today, shares of Zodiac Energy Limited shed 0.47%, settling at ₹264.95 in the post-market session. The stock traded within a range of ₹261.00 to ₹269.90 during the day, amidst a volume of 4,373 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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