New Risk • May 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.50b (US$99.3m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹9.50b market cap, or US$99.3m). Announcement • May 07
Zuari Agro Chemicals Limited to Report Q4, 2026 Results on May 15, 2026 Zuari Agro Chemicals Limited announced that they will report Q4, 2026 results on May 15, 2026 New Risk • Mar 02
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.11b (US$99.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹9.11b market cap, or US$99.5m). Reported Earnings • Feb 05
Third quarter 2026 earnings released: EPS: ₹9.43 (vs ₹12.97 in 3Q 2025) Third quarter 2026 results: EPS: ₹9.43 (down from ₹12.97 in 3Q 2025). Revenue: ₹3.45b (down 73% from 3Q 2025). Net income: ₹396.8m (down 27% from 3Q 2025). Profit margin: 12% (up from 4.3% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Jan 28
Zuari Agro Chemicals Limited to Report Q3, 2026 Results on Feb 04, 2026 Zuari Agro Chemicals Limited announced that they will report Q3, 2026 results on Feb 04, 2026 Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹291, the stock trades at a trailing P/E ratio of 4.8x. Average trailing P/E is 25x in the Chemicals industry in India. Total returns to shareholders of 87% over the past three years. Announcement • Oct 31
Zuari Agro Chemicals Limited to Report Q2, 2026 Results on Nov 07, 2025 Zuari Agro Chemicals Limited announced that they will report Q2, 2026 results on Nov 07, 2025 Board Change • Oct 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Additional Non-Executive Director Athar Shahab was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorates as stock falls 26% After last week's 26% share price decline to ₹274, the stock trades at a trailing P/E ratio of 4.5x. Average trailing P/E is 26x in the Chemicals industry in India. Total returns to shareholders of 40% over the past three years. Valuation Update With 7 Day Price Move • Aug 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹376, the stock trades at a trailing P/E ratio of 6.2x. Average trailing P/E is 27x in the Chemicals industry in India. Total returns to shareholders of 93% over the past three years. Announcement • Aug 20
Zuari Agro Chemicals Limited, Annual General Meeting, Sep 23, 2025 Zuari Agro Chemicals Limited, Annual General Meeting, Sep 23, 2025, at 14:30 Indian Standard Time. Reported Earnings • Aug 01
First quarter 2026 earnings released: EPS: ₹23.54 (vs ₹2.17 in 1Q 2025) First quarter 2026 results: EPS: ₹23.54 (up from ₹2.17 in 1Q 2025). Revenue: ₹12.5b (up 14% from 1Q 2025). Net income: ₹989.9m (up ₹898.3m from 1Q 2025). Profit margin: 7.9% (up from 0.8% in 1Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 23% per year, which means it is well ahead of earnings. New Risk • Jul 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹248, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 29x in the Chemicals industry in India. Total returns to shareholders of 58% over the past three years. Announcement • Jul 22
Zuari Agro Chemicals Limited to Report Q1, 2026 Results on Jul 31, 2025 Zuari Agro Chemicals Limited announced that they will report Q1, 2026 results on Jul 31, 2025 New Risk • Jun 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.49b (US$97.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Reported Earnings • May 16
Full year 2025 earnings released: EPS: ₹39.17 (vs ₹23.74 in FY 2024) Full year 2025 results: EPS: ₹39.17 (up from ₹23.74 in FY 2024). Revenue: ₹44.9b (down 2.3% from FY 2024). Net income: ₹1.65b (up 65% from FY 2024). Profit margin: 3.7% (up from 2.2% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • May 06
Zuari Agro Chemicals Limited to Report Q4, 2025 Results on May 14, 2025 Zuari Agro Chemicals Limited announced that they will report Q4, 2025 results on May 14, 2025 Reported Earnings • Feb 07
Third quarter 2025 earnings released: EPS: ₹12.97 (vs ₹3.19 in 3Q 2024) Third quarter 2025 results: EPS: ₹12.97 (up from ₹3.19 in 3Q 2024). Revenue: ₹12.7b (up 51% from 3Q 2024). Net income: ₹545.3m (up 307% from 3Q 2024). Profit margin: 4.3% (up from 1.6% in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Announcement • Jan 27
Zuari Agro Chemicals Limited to Report Q3, 2025 Results on Feb 06, 2025 Zuari Agro Chemicals Limited announced that they will report Q3, 2025 results on Feb 06, 2025 New Risk • Jan 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.48b (US$98.6m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹8.48b market cap, or US$98.6m). Valuation Update With 7 Day Price Move • Dec 02
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹255, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 33x in the Chemicals industry in India. Total returns to shareholders of 137% over the past three years. Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹19.30 (vs ₹8.44 in 2Q 2024) Second quarter 2025 results: EPS: ₹19.30 (up from ₹8.44 in 2Q 2024). Revenue: ₹11.2b (down 32% from 2Q 2024). Net income: ₹812.3m (up 129% from 2Q 2024). Profit margin: 7.2% (up from 2.2% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Announcement • Oct 28
Zuari Agro Chemicals Limited to Report Q2, 2025 Results on Nov 06, 2024 Zuari Agro Chemicals Limited announced that they will report Q2, 2025 results on Nov 06, 2024 Announcement • Oct 01
Zuari Agro Chemicals Limited Announces Appointment of Asheeba Pereira as Company Secretary and Compliance Officer Zuari Agro Chemicals Limited announces that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors at its meeting held on 1st October, 2024, inter alia, has considered and approved the appointment of Ms. Asheeba Pereira as Company Secretary & Compliance Officer and Key Managerial Personnel of the Company effective 1st October, 2024. Ms. Asheeba Pereira is a qualified Company Secretary i.e. Associate member of the Institute of Company Secretaries of India (ACS 48097) and a B.Com graduate. She has around 8 years of post qualification experience in Company Law, SEBI /Security Market Laws and compliances. She is associated with the Company since 2017. Announcement • Aug 23
Zuari Agro Chemicals Limited, Annual General Meeting, Sep 27, 2024 Zuari Agro Chemicals Limited, Annual General Meeting, Sep 27, 2024, at 14:00 Indian Standard Time. New Risk • Aug 12
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.39b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (2.1% net profit margin). Market cap is less than US$100m (₹8.39b market cap, or US$99.9m). Announcement • Jul 22
Zuari Agro Chemicals Limited to Report Q1, 2025 Results on Aug 03, 2024 Zuari Agro Chemicals Limited announced that they will report Q1, 2025 results at 12:08 PM, Indian Standard Time on Aug 03, 2024 Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹190, the stock trades at a trailing P/E ratio of 8x. Average trailing P/E is 31x in the Chemicals industry in India. Total returns to shareholders of 46% over the past three years. Reported Earnings • May 26
Full year 2024 earnings released: EPS: ₹23.73 (vs ₹117 in FY 2023) Full year 2024 results: EPS: ₹23.73 (down from ₹117 in FY 2023). Revenue: ₹47.7b (up 4.8% from FY 2023). Net income: ₹998.1m (down 80% from FY 2023). Profit margin: 2.1% (down from 11% in FY 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Announcement • May 18
Zuari Agro Chemicals Limited to Report Q4, 2024 Results on May 25, 2024 Zuari Agro Chemicals Limited announced that they will report Q4, 2024 results on May 25, 2024 Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: ₹6.78 (vs ₹16.46 in 3Q 2023) Third quarter 2024 results: EPS: ₹6.78 (down from ₹16.46 in 3Q 2023). Revenue: ₹8.56b (down 40% from 3Q 2023). Net income: ₹134.1m (down 81% from 3Q 2023). Profit margin: 1.6% (down from 4.9% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth. Announcement • Jan 25
Zuari Agro Chemicals Limited to Report Q3, 2024 Results on Feb 07, 2024 Zuari Agro Chemicals Limited announced that they will report Q3, 2024 results on Feb 07, 2024 Announcement • Oct 27
Zuari Agro Chemicals Limited to Report Q2, 2024 Results on Nov 04, 2023 Zuari Agro Chemicals Limited announced that they will report Q2, 2024 results on Nov 04, 2023 New Risk • Sep 08
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 22% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). High level of non-cash earnings (22% accrual ratio). Minor Risk Market cap is less than US$100m (₹6.89b market cap, or US$83.1m). Announcement • Aug 26
Zuari Agro Chemicals Limited, Annual General Meeting, Sep 27, 2023 Zuari Agro Chemicals Limited, Annual General Meeting, Sep 27, 2023, at 15:00 Indian Standard Time. Reported Earnings • Aug 18
First quarter 2024 earnings released: ₹5.77 loss per share (vs ₹218 profit in 1Q 2023) First quarter 2024 results: ₹5.77 loss per share (down from ₹218 profit in 1Q 2023). Revenue: ₹12.2b (down 5.8% from 1Q 2023). Net loss: ₹19.8b (down 316% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 97% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Jul 29
Zuari Agro Chemicals Limited to Report Q1, 2024 Results on Aug 09, 2023 Zuari Agro Chemicals Limited announced that they will report Q1, 2024 results on Aug 09, 2023 New Risk • Jul 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.2x net interest cover). Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹7.08b market cap, or US$85.7m). Buying Opportunity • May 18
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 9.0%. The fair value is estimated to be ₹167, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Meanwhile, the company has become profitable. Announcement • May 13
Zuari Agro Chemicals Limited to Report Q4, 2023 Results on May 20, 2023 Zuari Agro Chemicals Limited announced that they will report Q4, 2023 results on May 20, 2023 Buying Opportunity • May 03
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ₹169, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Meanwhile, the company has become profitable. Buying Opportunity • Feb 27
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be ₹170, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.8% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • Feb 04
Third quarter 2023 earnings released: EPS: ₹16.46 (vs ₹13.28 in 3Q 2022) Third quarter 2023 results: EPS: ₹16.46 (up from ₹13.28 in 3Q 2022). Revenue: ₹14.3b (up 50% from 3Q 2022). Net income: ₹692.1m (up 24% from 3Q 2022). Profit margin: 4.8% (down from 5.9% in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 123% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Feb 02
Zuari Agro Chemicals Limited Appoints Manoj Dere, as Company Secretary & Compliance Officer and Key Managerial Personnel Zuari Agro Chemicals Limited at its board meeting held on February 1, 2023 appointed Manoj Dere, as Company Secretary & Compliance Officer and Key Managerial Personnel of the Company with effect from 1st February, 2023. Announcement • Dec 29
Zuari Agro Chemicals Limited Announces Resignation of Gaurav Dutta as Company Secretary & Compliance Officer Zuari Agro Chemicals Limited announced that Mr. Gaurav Dutta, has resigned from the post of Company Secretary & Compliance Officer of the Company effective 29 December, 2022 due to his personal reasons. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sanjeev Lall was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 06
Second quarter 2023 earnings released: ₹8.65 loss per share (vs ₹17.37 profit in 2Q 2022) Second quarter 2023 results: ₹8.65 loss per share (down from ₹17.37 profit in 2Q 2022). Revenue: ₹5.06b (down 46% from 2Q 2022). Net loss: ₹363.7m (down 150% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Announcement • Nov 01
Zuari Agro Chemicals Limited Announces Resignation of N. Suresh Krishnan, Non - Executive Director from the Board of Directors Zuari Agro Chemicals Limited announced that, Mr. N. Suresh Krishnan (DIN: 00021965), Non - Executive Director has resigned from the Board of Directors of the Company effective 30th October, 2022 due to other professional commitments. Board Change • Nov 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sanjeev Lall was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 30
Zuari Agro Chemicals Limited to Report Q2, 2023 Results on Nov 05, 2022 Zuari Agro Chemicals Limited announced that they will report Q2, 2023 results on Nov 05, 2022 Announcement • Oct 08
Zuari Agro Chemicals Limited Appoints Manish Malik as Chief Financial Officer Zuari Agro Chemicals Limited at its board meeting held on October 6, 2022, has considered and approved the appointment of Manish Malik as Chief Financial Officer and Key Managerial Personnel of the Company with effect from October 6, 2022. Manish Malik is a qualified Chartered Accountant from The Institute of Chartered Accountants of India and holds a graduate degree in Commerce (Hons.) from Delhi University. He has over 23 years of experience in overseeing the finance & accounting functions including, financial accounting & control, debt & equity financing, working capital cash & liquidity management, Forex and Insurance Risk Management, strategic planning, taxation and systems implementation. He has extensive experience in overseeing entire financial operations with consistent record of delivering results in process improvement, framing financial policies, cost reduction, operational performance & profitability. Mr. Malik possesses leadership capabilities of directing a successful effort to raise capital through IPO's and QIP's for business growth and creating shareholder value; supporting acquisitions, divestitures and integrations. He was earlier associated with lntech Organics Limited as Sr. GM-Head Finance, Pl industries Ltd. as Head Treasury and Risk, Genesis Luxury/Genesis Colors as Finance Controller, Bharti Retail Ltd. as Head of Treasury, Walmart India Pvt. Ltd. as Sr. Manager and Head-General Accounting and also as a Deputy General Manager-Treasury. Board Change • Oct 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sanjeev Lall was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 14
Zuari Agro Chemicals Limited Appoints Sanjeev Lall as Independent Director Zuari Agro Chemicals Limited at its AGM held on September 12, 2022 appointed Mr. Sanjeev Lall as an Independent Director of the Company. Announcement • Aug 11
Zuari Agro Chemicals Limited, Annual General Meeting, Sep 12, 2022 Zuari Agro Chemicals Limited, Annual General Meeting, Sep 12, 2022, at 15:00 Indian Standard Time. Announcement • Aug 04
Zuari Agro Chemicals Limited Appoints Gaurav Dutta as Company Secretary and Key Managerial Personnel & Compliance Officer Zuari Agro Chemicals Limited announced that based on the recommendation of the Nomination & Remuneration Committee, the Board of Directors at its meeting held on August 3, 2022 has approved the appointment of Mr. Gaurav Dutta as Company Secretary and Key Managerial Personnel (KMP) & Compliance Officer with effect from August 3, 2022. Mr. Gaurav Dutta is a Company Secretary (Membership no. A24445 of Institute of Company Secretaries of India) and a Law Graduate with over 14 years of experience working in the secretarial and legal team in Manufacturing sector, Power sector, EPC and Sugar industry. Mr. Dutta is currently working as Manager - Secretarial, Zuari Industries Limited (formerly Zuari Global Limited) and is associated with Adventz group since September 2016. Mr. Dutta was earlier working as Company Secretary of erstwhile Gobind Sugar Mills Limited which got amalgamated with Zuari Industries Limited in April 2022 and he had also served as Company Secretary of Simon India Limited. During his tenure with Adventz group, he has handled various assignments including handling compliances under provisions of corporate laws and SEBI laws, issue and listing of Non-Convertible Debentures, merger of listed entities, incorporation and compliance of Joint Venture Company and finalization of various project/debt funding documentations. Before joining the Adventz Group, he has worked with Hindustan Powerprojects Private Limited, a leading player in energy sector owning solar and thermal power projects and Gulshan Polyols Limited, a listed company into the business of manufacture of chemicals. Reported Earnings • Aug 04
First quarter 2023 earnings released: EPS: ₹218 (vs ₹7.73 in 1Q 2022) First quarter 2023 results: EPS: ₹218 (up from ₹7.73 in 1Q 2022). Revenue: ₹13.1b (up 50% from 1Q 2022). Net income: ₹9.17b (up ₹8.85b from 1Q 2022). Profit margin: 70% (up from 3.7% in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Jul 20
Zuari Agro Chemicals Limited to Report Q1, 2023 Results on Aug 03, 2022 Zuari Agro Chemicals Limited announced that they will report Q1, 2023 results on Aug 03, 2022 Announcement • Jun 14
Zuari Agro Chemicals Limited Announces Demise of Mr. L.M. Chandrasekaran Independent Director Zuari Agro Chemicals Limited announced demise of Mr. L.M. Chandrasekaran Independent Director of the Company, 12 June, 2022. His passing away will be an irreparable loss to the Company and all the directors and employees of the Company convey deep sympathy and condolences to his family. Announcement • Jun 02
Paradeep Phosphates Limited (NSEI:PARADEEP) completed the acquisition of acquisition of Fertilizer plant in Goa from Zuari Agro Chemicals Limited (BSE:534742). Paradeep Phosphates Limited agreed to acquire Fertilizer plant in Goa from Zuari Agro Chemicals Limited (BSE:534742) for an enterprise value of $280 million (INR 21.3 billion) on June 19, 2020. Paradeep Phosphates Limited executed Business Transfer Agreement to acquire Fertilizer plant in Goa from Zuari Agro Chemicals Limited on March 1, 2021. The enterprise value is subject to customary adjustments for capex, cash, debt, cash like items, debt like items and working capital changes based on certain agreed parameters. The transaction is expected to be funded partly from INR 10 billion on from Public issue and balance from loans and internal accruals. For fiscal year ended March 31, 2020, Fertilizer plant reported sales of INR 19.9 billion and net worth of INR -6.5 billion. The deal is subject to due diligence, statutory, regulatory and Zuari Agro shareholder approvals. The Zuari Agro Chemicals Limited's board has given in-principle approval for the sale on strategic and financial grounds. The transaction was approved by the board of Zuari Agro Chemicals Limited. As of June 25, 2021, Fair trade regulator the Competition Commission of India approved the proposed acquisition of the Fertilizer plant of Zuari Agro Chemicals by Paradeep Phosphates. The proceeds from the transaction will be utilized to take care of the long term liabilities of Zuari Agro Chemicals. The business transfer agreement is expected to be executed in February 2021. The transaction is expected to complete on June 30, 2021. Ernst & Young LLP acted as financial advisor to Zuari Agro Chemicals Limited.
Paradeep Phosphates Limited (NSEI:PARADEEP) completed the acquisition of Fertilizer plant in Goa from Zuari Agro Chemicals Limited (BSE:534742) on June 1, 2022. Reported Earnings • May 31
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹30.01 (up from ₹4.09 in FY 2021). Revenue: ₹36.5b (up 52% from FY 2021). Net income: ₹1.26b (up ₹1.09b from FY 2021). Profit margin: 3.5% (up from 0.7% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 231%. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • May 20
Zuari Agro Chemicals Limited to Report Q4, 2022 Results on May 29, 2022 Zuari Agro Chemicals Limited announced that they will report Q4, 2022 results on May 29, 2022 Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Additional Independent Director Reena Suraiya was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improved over the past week After last week's 32% share price gain to ₹183, the stock trades at a trailing P/E ratio of 6x. Average trailing P/E is 20x in the Chemicals industry in India. Total loss to shareholders of 7.3% over the past three years. Board Change • Apr 08
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Additional Independent Director Reena Suraiya was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 01
Zuari Agro Chemicals Limited Announces Resignation of Marco Wadia as Independent Director Zuari Agro Chemicals Limited announced that Mr. Marco Wadia was appointed as an Independent Director, has completed his tenure as an Independent Director of the Company on March 31, 2022. Accordingly, Mr. Marco Wadia has ceased to be the Director of the Company with effect from close of business hours on March 31, 2022. Announcement • Jan 09
Zuari Agro Chemicals Limited Announces Resumption of NPK B Plant Zuari Agro Chemicals Limited announced that NPK Plant has resumed its operations effective January 7, 2022. Announcement • Jul 20
Zuari Agro Chemicals Limited Announces Resumption of NPK B Plant Operations Zuari Agro Chemicals Limited announced that NPK B Plant at Zuarinagar, Goa, has resumed its operations effective July 19, 2021. Announcement • Jul 15
Zuari Agro Chemicals Limited Announces Resumption of SSP Plant in Mahad & Shutdown of NPK A Plant Zuari Agro Chemicals Limited announced that the SSP Plant of the Company in Mahad has resumed its operations with supply of raw materials having been tied up with a supplier. The company also announced that the NPK A Plant has been shut down due to unavailability of raw materials. The company will inform once the plant operations resume. Announcement • Jun 15
Zuari Agro Chemicals Limited Announces Resumption of Ammonia and Urea Plants Zuari Agro Chemicals Limited announced that further to its letter dated May 3, 2021 informing shutdown of Ammonia and Urea Plants of the company at Zuarinagar, Goa, the company announced that Ammonia and Urea Plants have resumed production on June 13, 2021. This intimation is pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. Announcement • May 04
Zuari Agro Chemicals Limited Announces Shutdown of Ammonia and Urea Plants Zuari Agro Chemicals Limited announced that the Ammonia and Urea Plants have been shutdown for annual maintenance effective May 3, 2021. Announcement • Apr 26
Zuari Agro Chemicals Limited Announces Shutdown of NPK B Plant Zuari Agro Chemicals Limited announced that the NPK B Plant has been shut down since April 24, 2021 due to unavailability of raw materials. Announcement • Mar 19
Zuari Agro Chemicals Limited Announces Shutdown of NPK B Plant Zuari Agro Chemicals Limited announced that the NPK B Plant has been shut down due to delay in the arrival of raw materials. Reported Earnings • Feb 15
Third quarter 2021 earnings released: ₹11.08 loss per share (vs ₹30.15 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: ₹9.27b (up 4.8% from 3Q 2020). Net loss: ₹466.2m (loss narrowed 63% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 84% per year but the company’s share price has only fallen by 43% per year, which means it has not declined as severely as earnings. Announcement • Feb 02
Zuari Agro Chemicals Limited to Report Q3, 2021 Results on Feb 12, 2021 Zuari Agro Chemicals Limited announced that they will report Q3, 2021 results on Feb 12, 2021 Announcement • Nov 10
Zuari Agro Chemicals Limited to Report Q2, 2021 Results on Nov 09, 2020 Zuari Agro Chemicals Limited announced that they will report Q2, 2021 results on Nov 09, 2020 Announcement • Nov 03
Zuari Agro Chemicals Limited Announces Resumption of Production of NPK -B Plant Zuari Agro Chemicals Limited announced regarding shutdown of one of the two Granulation Plants (NPK -- B Plant) of the company at Zuarinagar, Goa. The company informed that the NPK-B Plant has resumed production effective October 31, 2020. With this all Plants of the company are operational. Announcement • Oct 18
Zuari Agro Chemicals Limited Announces Shutdown of Urea Plant Zuari Agro Chemicals Limited announced that the Urea Plant has been shut down for repairs work on 15 October 2020. Announcement • Aug 25
Zuari Agro Chemicals Limited Auditor Raises 'Going Concern' Doubt Zuari Agro Chemicals Limited filed its Annual on Aug 21, 2020 for the period ending Mar 31, 2020. In this report its auditor, S.R. Batliboi & Co - S R B C & Co, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Announcement • Aug 19
Zuari Agro Chemicals Limited Announces Resumption of NPK-A Plant Zuari Agro Chemicals Limited announced that in view of improvement in COVID -19 situation, NPK-A Plant of the Company has resumed production effective August 17, 2020. The NPK-A Plant is expected to operate until the production of around 50,000 MT of complex fertilisers. Announcement • Jul 10
Zuari Agro Chemicals Limited Announces Shutdown of NPK-a Plant Zuari Agro Chemicals Limited informed that NPK – a plant of the company has been shut down due to non-availability of bagging workers owing to COVID- 19. The company will inform once the operations of the said NPK- A plant resumes.