SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Zeal Aqua Ltd (539963)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539963 NSE: Aquaculture | Small Cap | Zeal Aqua Share Price

₹12.08 0.20 (1.68%)

As on 02-Jul'26 16:59

Zeal Aqua Ltd (539963)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539963 NSE: Aquaculture | Small Cap | Zeal Aqua Share Price

₹12.08 0.20 (1.68%)

As on 02-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹152 Cr.
Current Price
₹12.1
52-Week Low / High
₹9 / 18
TTM EPS
₹1.1
TTM Sales
₹668 Cr.
Book Value per Share
₹8.2
P/E Ratio
10.79
Lower than its 5-year historical median
Industry PE
25
Price to Book (P/B)
1.47
Lower than its 5-year historical median
Price to Sales (P/S)
0.23
Lower than its 5-year historical median
EV/EBITDA
7.32
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
12.04%
Outperforms industry median
Return on Capital Employed (ROCE)
14.70%
Outperforms industry median
Return on Assets (ROA)
3.23%
Operating Profit Margin
6.5%
Net Profit Margin
1.98%
Gross Profit Margin
4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
28.54%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
55.41%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
22.13%
Asset Quality
Promoter Holding
68.42%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹91 Cr.
Equity
₹12.6 Cr.
Face Value
₹1
All Time Low / High
₹4.27 / 20.00

Zeal Aqua stock performance

Key Ratios
mw4me loader

Check Before You Invest

Quality

Somewhat Good

Valuation

Undervalued

Price Trend

Weak
Q.1 Is Zeal Aqua Ltd a good quality company?
Zeal Aqua Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Zeal Aqua Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Zeal Aqua Ltd vs industry peers?
Zeal Aqua Ltd revenue CAGR is 16.48%, compared to the industry median CAGR of 4.91%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Zeal Aqua Ltd?
Promoters hold 68.42% of the Zeal Aqua Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Zeal Aqua Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 16.9% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Zeal Aqua Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 11.1%9.9%14.1%14.7%12.5%11.1%9.6%11.1%10.9%14.7%-
Value Creation
Index
-0.2-0.30.00.1-0.1-0.2-0.3-0.2-0.20.1-

Growth Parameters

Sales 121175178232239297345363398511668
Sales YoY Gr.-43.9%1.7%30.7%2.8%24.7%16.1%5.1%9.7%28.5%-
Adj EPS 0.20.10.30.70.40.30.40.50.60.81.1
YoY Gr.--33.3%128.6%103.1%-33.9%-27.9%29%27.5%21.6%24.2%-
BVPS (₹) 2.32.93.33.94.44.655.66.37.18.2
Adj Net
Profit
1.91.848.25.4456.47.89.714
Cash Flow from Ops. -1.18.5-17.413.910.96.8-4.623.924.634.6-
Debt/CF from Ops. -36.35.9-56.48.617.6-27.65.76.45.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 17.3%16.5%14%28.5%
Adj EPS 15.5%12.4%24.4%24.2%
BVPS13.4%10.1%12%13%
Share Price - 4% 21.3% 4.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
9.56.210.318.310.578.29.510.411.514.7
Op. Profit
Mgn %
7.55.3129.35.86.44.55.25.36.54.2
Net Profit
Mgn %
1.612.33.52.31.31.51.821.92.1
Debt to
Equity
1.81.42.11.81.72.121.9220.2
Working Cap
Days
957812716421823321421022019392
Cash Conv.
Cycle
67509010612913513414314313025

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales121175178232239297345363398511
Operating Expenses + 112165156211225278330344377478
Manufacturing Costs881318191622232024
Material Costs100153133179192246289302341432
Employee Cost 12466669912
Other Costs 32698101310811
Operating Profit 992121141915192133
Operating Profit Margin (%) 7.5%5.3%12.0%8.9%5.8%6.4%4.5%5.2%5.3%6.5%
Other Income + 002711588810
Exceptional Items 0000000000
Interest 54910121310141422
Depreciation 3288766555
Profit Before Tax 236965781015
Tax 0122-011125
Profit After Tax 22486467810
PAT Margin (%) 1.6%1.0%2.3%3.2%2.7%1.4%1.7%1.9%2.1%2.0%
Adjusted EPS (₹)0.20.10.30.60.50.30.50.60.70.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Zeal Aqua - Standalone

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 21374149555864717989
Share Capital 34413131313131313
Reserves 18333736424551586677
Debt +3849858388112120131150172
Long Term Debt7191720192538303324
Short Term Debt31306864708782101117148
Minority Interest0000000000
Trade Payables4101237628733625755
Others Liabilities 126105886814
Total Liabilities 6498144179211265224269295330

Fixed Assets

Net Fixed Assets +13135346404037343638
Gross Block20227072737982849198
Accumulated Depreciation691725323944505560
CWIP 123803500040
Investments 0000000000
Inventories22345188120121149147161
Trade Receivables273240586391506684102
Cash Equivalents 4764551151
Others Assets 6691610915191928
Total Assets 6498144179211265224269295330

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -18-1714117-5242535
PBT 236965781015
Adjustment 771719191915191827
Changes in Working Capital -91-39-11-11-17-26-2-2-2
Tax Paid -0-1-1-3-2-0-1-2-2-5
Cash Flow From Investing Activity + -8-29-11-4-3-0-2-2-10-3
Capex -2-2-11-4-3-1-3-2-11-3
Net Investments -5-2700000000
Others -0000011111
Cash Flow From Financing Activity + -22329-12-7-72-22-11-36
Net Proceeds from Shares 01500000000
Net Proceeds from Borrowing 213-12-1613-73-9
Interest Paid -4-4-9-10-12-13-10-14-14-22
Dividend Paid 0000000000
Others 0039-4600-10-4
Net Cash Flow -1132-210-4-04-4

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)9.486.1610.6716.7412.247.569.510.5411.0912.04
ROCE (%)11.069.9414.1414.6512.4511.119.5711.0910.9214.7
Asset Turnover Ratio1.912.161.471.441.231.251.411.471.421.64
PAT to CFO Conversion(x)-0.54-4.251.751.831.75-0.833.433.133.5
Working Capital Days
Receivable Days73.4061.4074.2077.2092.3094.1074.205868.4066.60
Inventory Days4.404.2037.2067.30106.40127.30127.20135.60135109.90
Payable Days11.9016.9029.4049.8094.50110.7075.9057.2063.7047.60

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Zeal Aqua Ltd FAQs

The current trading price of Zeal Aqua on 02-Jul-2026 16:59 is ₹12.08.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 01-Jul-2026 the market cap of Zeal Aqua stood at ₹152.3 Cr

The latest P/E ratio of Zeal Aqua as of 01-Jul-2026 is 10.79.

The latest P/B ratio of Zeal Aqua as of 01-Jul-2026 is 1.47.

The 52-week high of Zeal Aqua is ₹17.80 and the 52-week low is ₹8.75.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Zeal Aqua is ₹668 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Zeal Aqua Ltd is a average quality company.

The key valuation ratios of Zeal Aqua Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Zeal Aqua Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Zeal Aqua Ltd

The company was incorporated as ‘Zeal Aqua Private Limited’ at Surat under the provision of the Companies Act, 1956 vide certificate of incorporation dated March 6, 2009 issued by the Assistant Registrar of Companies, Gujarat, Dadra and Nagar Haveli. Consequent upon the conversion of the company to public limited company, the name of the company was changed to ‘Zeal Aqua Limited’ and fresh certificate of incorporation dated March 31, 2015 was issued by the Assistant Registrar of Companies, Ahmedabad.

The company’s promoters who were individually engaged in culturing shrimps joined hands in 2009 and incorporated the company ‘Zeal Aqua Private Limited’ to make the business scalable and reap the benefits of synergy. In addition, the introduction of schemes of Government to allot coastal lands for aquaculture purposes to promote this industry and generate a source of revenue for farmers motivated its promoters to have a vision to develop an advanced, sustained and fully integrated aquaculture system in Surat and also across India.

After establishing the strong foothold in the shrimp farming and satellite farming activities, as a part of forward integration the company is in process of setting up shrimp processing unit for their shrimp including cold storage and primarily to manufacture Individually quick frozen (IQF) shrimp products for which the company had already purchased land admeasuring area of 35076 sq meters and 14569 sq meter land on lease basis at Village Orma, Olpad, Surat. In order to achieve its object of enhancing productivity, quality and minimize environmental degradation the company has taken various measures such as introduction of PE Line Ponds, use of qualitative feeds, bio-security measures such as fencing and water management among others.

Business area of the company

The company has around 160 ponds spread over village Mor, Delasa, Mandorai, Katpore, Nesh, Dandi, Olpad, Orma, Bhagwa, Kantyajal, etc admeasuring area of around 200 hectares of land wherein the land on which ponds are constructed for cultivation of shrimp by the company is in accordance with collaboration agreements with various parities. The company is also engaged in satellite farming whereby it supplies inputs i.e shrimp feeds, shrimp seeds, probiotics and other aquaculture related products etc on credit to small farmers and buys shrimps from these farmers. The company has approx 1050 satellite farms. It deploys its specific quality control measures and the farmers under satellite farming are required to adhere to its farming standards. The satellite farming enables companies to scale up and multiply its production without putting up physical infrastructure on its own. This flexible model of shrimp production helps the company to efficiently manage growing demand of shrimps.

You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through: