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Zeal Global Services (ZEAL)₹72.00−1.23%Logistics Solution Provider
In the Mar 2026 quarter (consolidated), Zeal Global Services reported sales of ₹114 Cr, down 42.1% from Mar 2025, and net profit of ₹7.02 Cr, up 39.8% year on year. For the year to Mar 2026, sales were ₹286 Cr and net profit ₹11.03 Cr.
Company filings, consolidated accounts; latest reported quarter Mar 2026
| Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 56.03 | 93.94 | 98.96 | 170 | 197 | 171 | 114 |
| Expenses | 48.15 | 87.30 | 88.36 | 158 | 190 | 165 | 103 |
| Operating Profit | 7.99 | 7.98 | 10.97 | 12.98 | 8.97 | 7.98 | 10.97 |
| OPM % | 14.9% | 7.9% | 10.9% | 7.0% | 4.5% | 4.4% | 10.0% |
| Other Income | 0.00 | 0.99 | 1.99 | 1.99 | 1.99 | 1.99 | 1.99 |
| Interest | 1.01 | 1.01 | 1.01 | 0.00 | 1.01 | 1.01 | 1.01 |
| Depreciation | 1.01 | 1.01 | 2.01 | 3.01 | 3.01 | 3.01 | 3.01 |
| Profit before tax | 7.03 | 6.02 | 10.04 | 12.04 | 8.02 | 6.02 | 9.03 |
| Tax % | 27.0% | 26.0% | 26.0% | 26.0% | 27.0% | 26.0% | 27.0% |
| Net Profit | 6.02 | 5.02 | 7.02 | 9.02 | 5.02 | 5.02 | 7.02 |
| EPS (Rs) | 5.63 | 3.43 | 5.59 | 6.89 | 4.04 | 3.46 | 4.90 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales | 75.99 | 61.05 | 121 | 112 | 193 | 368 | 286 |
| Expenses | 75.30 | 58.18 | 114 | 97.30 | 176 | 347 | 268 |
| Operating Profit | 1.99 | 1.99 | 6.98 | 14.98 | 18.95 | 20.94 | 17.96 |
| OPM % | 2.5% | 4.0% | 6.0% | 12.9% | 9.9% | 6.0% | 6.0% |
| Other Income | 0.00 | 0.00 | 0.00 | 0.00 | 1.99 | 3.99 | 3.99 |
| Interest | 0.00 | 0.00 | 0.00 | 1.01 | 2.01 | 1.01 | 2.01 |
| Depreciation | 0.00 | 0.00 | 0.00 | 1.01 | 3.01 | 5.01 | 6.02 |
| Profit before tax | 2.01 | 2.01 | 7.02 | 13.05 | 16.06 | 19.06 | 15.06 |
| Tax % | 26.0% | 26.0% | 26.0% | 26.0% | 26.0% | 26.0% | 27.0% |
| Exceptional items | 0.00 | 0.05 | 0.00 | 0.00 | 0.00 | 0.10 | 0.00 |
| Net Profit | 1.01 | 2.01 | 7.02 | 10.03 | 12.03 | 15.05 | 11.03 |
| EPS (Rs) | 20.98 | 31.28 | 36.92 | 10.07 | 9.02 | 10.93 | 8.37 |
| Dividend payout % | 52.1% | 11.1% | 0.0% | 0.0% | 0.0% | 0.0% | 18.1% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.59 | 0.59 | 1.99 | 9.98 | 12.97 | 12.96 | 12.96 |
| Reserves | 4.01 | 5.01 | 11.01 | 13.00 | 53.01 | 67.98 | 79.06 |
| Borrowings | 2.99 | 1.99 | 1.99 | 17.00 | 9.98 | 13.99 | 19.99 |
| Other Liabilities | 15.04 | 11.03 | 17.05 | 20.10 | 39.16 | 47.23 | 31.07 |
| Total Liabilities | 22.03 | 19.02 | 32.04 | 60.08 | 115 | 143 | 143 |
| Fixed Assets | 0.00 | 1.01 | 0.00 | 9.01 | 18.03 | 19.02 | 23.05 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 8.99 | 7.01 | 0.00 |
| Investments | 0.00 | 0.00 | 1.99 | 1.99 | 2.99 | 2.99 | 2.99 |
| Other Assets | 22.03 | 18.01 | 29.05 | 48.08 | 85.11 | 113 | 117 |
| Trade receivables | 3.99 | 8.98 | 12.97 | 15.96 | 15.97 | 24.97 | 28.92 |
| Cash & equivalents | 11.02 | 4.01 | 11.02 | 7.01 | 35.07 | 51.08 | 16.03 |
| Total Assets | 22.03 | 19.02 | 32.04 | 60.08 | 115 | 143 | 143 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | 8.99 | −4.99 | 6.99 | −9.01 | 22.98 | 14.01 | −11.99 |
| Cash from investing activity | −1.01 | 0.00 | −5.01 | −9.03 | −43.10 | −17.06 | 5.02 |
| Cash from financing activity | 1.01 | −1.01 | 0.00 | 14.05 | 23.06 | 3.01 | 4.01 |
| Net cash flow | 8.98 | −5.99 | 1.99 | −2.99 | 2.99 | 0.99 | −3.99 |
| Capex | 0.28 | 0.50 | 0.05 | 9.65 | 20.90 | 4.58 | 2.42 |
| Free cash flow | 8.99 | −5.99 | 6.99 | −18.96 | 2.99 | 9.99 | −14.97 |
| CFO / OP % | 566.0% | −187.0% | 123.0% | −45.0% | 149.0% | 91.0% | −41.0% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 18 | 57 | 40 | 52 | 32 | 26 | 38 |
| Cash conversion cycle | 18 | 57 | 40 | 52 | 32 | 26 | 38 |
| Working capital days | −65 | −15 | −10 | −36 | −25 | −16 | 4 |
| ROCE % | — | 34.0% | 65.0% | 53.0% | 30.0% | 24.0% | 17.0% |
For the Mar 2026 quarter, Zeal Global Services reported sales of ₹114 Cr, down 42.1% year on year and net profit of ₹7.02 Cr, up 39.8% year on year. The operating margin was 10.0%.
Zeal Global Services' sales for the year to Mar 2026 were ₹286 Cr.
Net profit for the year to Mar 2026 was ₹11.03 Cr. Earnings per share over the same trailing period were ₹8.37.
Zeal Global Services reported borrowings of ₹19.99 Cr at Mar 2026, against cash and equivalents of ₹16.03 Cr.
Cash from operations was −₹11.99 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹14.97 Cr.