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Zodiac Energy
Listed EPC / O&M — per-stock model.
As of 19 Oct 2026
EPC / O&M—
CMP ₹198NSE: ZODIAC
Latest concall
Q4 FY26 · 25 May 2026- FY26 revenue Rs546cr up 34%; PAT Rs21.1cr up ~5.5%; EPS Rs13.88; final dividend recommended.
- Ahmedabad-based solar EPC across rooftop, C&I and ground-mount; recent Rs5.44cr Rajkot open-access order.
- Net margin compressed to ~3.9% from ~4.9% as revenue outpaced profit growth.
- Growth driven by Gujarat C&I/open-access demand under state renewable policy 2024.
Order-book execution
Order book not publicly disclosed; small ground-mount/rooftop EPC orders typically execute within 6-12 months.
Management guidance
- No formal company FY27 guidance located; analyst consensus expects ~20-25% revenue growth.
- Key watch item is margin sustainability (EBITDA ~12-15% expected) amid competitive EPC pricing.
Q4/FY26 audited results 25-May-2026 (results filing/press); univest.in, scanx.trade, screener.in. NOTE: latest concall transcript on screener is May-2025 (Q4 FY25); a formal Q4 FY26 analyst concall transcript could not be confirmed publicly.
Revenue FY26E
544₹ cr
EBITDA margin
10%
P/E
11.8×
Financials
Annual · ₹ crore · E = estimate.
Annual financials
₹ crore · FY25 → FY28E
Source Market data (mid-2026) + company filings· As of 19 Oct 2026
Revenue, EBITDA & margin
Bars ₹cr (left) · margin % (right)
Source Market data (mid-2026) + company filings· As of 19 Oct 2026
Quarterly
₹ crore · recent quarters.
Quarterly financials
₹ crore
Source Market data (mid-2026) + company filings· As of 19 Oct 2026
Revenue & margin trend
Bars ₹cr (left) · margin % (right)
Source Market data (mid-2026) + company filings· As of 19 Oct 2026
Valuation
As of 19 Oct 2026
P/E
11.8×
EV / EBITDA
8.8×
P/B
2.6×
Operating & order mix
Unit economics and the order book.
Shareholding
% · as of 30 Jun 2026
Shareholding pattern
%
Source Market data (mid-2026) + company filings· As of 19 Oct 2026