Zeal Aqua Ltd - Stock Valuation and Financial Performance

BSE: 539963 | NSE: | Aquaculture | Small Cap

Zeal Aqua Share Price

10.50 0.30 2.94%
as on 19-Mar'24 10:33

DeciZen - make an informed investing decision on Zeal Aqua

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Somewhat Undervalued

3. Price Trend

Zeal Aqua stock performance -

mw4me loader
P/E Ratio (SA):
19.13
Market Cap:
128.6 Cr.
52-wk low:
6.1
52-wk high:
16.5

Is Zeal Aqua Ltd an attractive stock to invest in?

1. Is Zeal Aqua Ltd a good quality company?

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

2. Is Zeal Aqua Ltd undervalued or overvalued?

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

3. Is Zeal Aqua Ltd a good buy now?

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.

10 Year X-Ray of Zeal Aqua:

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

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 19.2%13.7%8.7%6.8%9.6%11.5%9.5%8%6.7%8.1%-
Value Creation
Index
0.40.0-0.4-0.5-0.3-0.2-0.3-0.4-0.5-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 136171121175178232239297345363398
Sales YoY Gr.-26%-29.2%43.9%1.7%30.7%2.8%24.7%16.1%5.1%-
Adj EPS 0.40.30.20.10.30.70.40.30.40.50.5
YoY Gr.--13.2%-36.4%-33.3%128.6%103.1%-33.9%-27.9%29%27.5%-
BVPS (₹) 1.82.12.32.93.33.94.44.655.66
Adj Net
Profit
3.53.11.91.848.25.4456.47
Cash Flow from Ops. 13.528.2-1.18.5-17.413.910.96.8-4.622.5-
Debt/CF from Ops. 11.4-36.35.9-56.48.617.6-27.66.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 11.5%15.4%15%5.1%
Adj EPS 3.3%9.8%5.9%27.5%
BVPS13.6%11.4%8.6%11.1%
Share Price - 0.7% 14% 42.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
26.517.29.56.210.318.310.578.29.69.1
Op. Profit
Mgn %
6.96.17.55.3129.35.86.44.55.24.5
Net Profit
Mgn %
2.61.81.612.33.52.31.31.51.81.7
Debt to
Equity
0.82.11.81.42.11.81.72.121.9-
Working Cap
Days
75589578127164218233214210137
Cash Conv.
Cycle
433267509010612913513414357

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 9.10%

Sales growth is growing at healthy rate in last 3 years 14.99%

Debt to equity has declined versus last 3 years average to 1.94

Sales growth is good in last 4 quarters at 10.06%

Net Profit has been subdued in last 3 years 5.85%

Latest Financials - Zeal Aqua Ltd.

Standalone Consolidated
TTM EPS (₹) 0.5 -
TTM Sales (₹ Cr.) 398 -
BVPS (₹.) 6 -
Reserves (₹ Cr.) 64 -
P/BV 1.69 -
PE 19.13 -
From the Market
52 Week Low / High (₹) 6.06 / 16.51
All Time Low / High (₹) 4.27 / 20.00
Market Cap (₹ Cr.) 129
Equity (₹ Cr.) 12.6
Face Value (₹) 1
Industry PE 43.8

Management X-Ray of Zeal Aqua:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of Zeal Aqua

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales136171121175178232239297345363
Operating Expenses 127161112165156211225278330344
Manufacturing Costs0788131819162225
Material Costs118151100153133179192246289302
Employee Cost 1112466666
Other Costs 9332698101310
Operating Profit 91099212114191519
Operating Profit Margin (%) 6.9%6.1%7.5%5.3%12.0%8.9%5.8%6.4%4.5%5.2%
Other Income 00002711588
Interest 345491012131014
Depreciation 1232887665
Exceptional Items 0000000000
Profit Before Tax 5423696578
Tax 2101220111
Profit After Tax 4322486467
PAT Margin (%) 2.6%1.8%1.6%1.0%2.3%3.2%2.7%1.4%1.7%1.9%
Adjusted EPS (₹)0.40.30.20.10.30.60.50.30.50.6
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 16192137414955586471
Share Capital 233441313131313
Reserves 14161833373642455158
Minority Interest0000000000
Debt13393849858388112120131
Long Term Debt54719172019253830
Short Term Debt83431306864708782101
Trade Payables42410123762873362
Others Liabilities 63126105886
Total Liabilities 40636498144179211265224269

Fixed Assets

Gross Block11172022707273798284
Accumulated Depreciation0469172532394450
Net Fixed Assets11141313534640403734
CWIP 071238035000
Investments 0000000000
Inventories1122345188120121149
Trade Receivables13222732405863915066
Cash Equivalents 11447645511
Others Assets135669161091519
Total Assets 40636498144179211265224269

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 1428-18-1714117-522
PBT 5423696578
Adjustment 4677171919191519
Changes in Working Capital 519-91-39-11-11-17-26-3
Tax Paid -1-10-1-1-3-20-1-2
Cash Flow From Investing Activity -3-12-8-29-11-4-30-2-2
Capex 0-5-2-2-11-4-3-1-3-2
Net Investments -3-7-5-27000000
Others 0000000111
Cash Flow From Financing Activity -10-5-22329-12-7-72-21
Net Proceeds from Shares 30015000000
Net Proceeds from Borrowing -9-1213-12-1613-7
Interest Paid -3-4-4-4-9-10-12-13-10-14
Dividend Paid 0000000000
Others 000039-46000
Net Cash Flow 011-1132-210-40
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)26.4917.249.486.1610.6716.7412.247.569.510.54
ROCE (%)28.118.8411.069.9414.1414.6512.4511.119.5711.09
Asset Turnover Ratio3.493.391.912.161.471.441.231.251.411.47
PAT to CFO Conversion(x)3.59.33-0.54-4.251.751.831.75-0.833.14
Working Capital Days
Receivable Days50377361747792947458
Inventory Days22443767106127127136
Payable Days9712172950951117657

Zeal Aqua Ltd Stock News

Zeal Aqua Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Zeal Aqua on 19-Mar-2024 10:33 is ₹10.50.
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 19-Mar-2024 10:33 the market cap of Zeal Aqua stood at ₹128.6.
The latest P/E ratio of Zeal Aqua as of 19-Mar-2024 10:33 is 19.13.
The latest P/B ratio of Zeal Aqua as of 19-Mar-2024 10:33 is 1.69.
The 52-week high of Zeal Aqua is ₹16.51 and the 52-week low is ₹6.06.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Zeal Aqua is ₹398.1 ( Cr.) .

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.

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