Textile · Founded 1981 · www.zenithexportsltd.com · BSE 512553 · NSE ZENITH EXP. · ISIN INE058B01018
No Notes Added Yet
1. Business Overview
Zenith Exports Ltd. is an Indian company operating in the Textile sector. Its core business involves the manufacturing and export of textile products. Given "Exports" in its name, the company primarily focuses on serving international markets. This typically involves sourcing raw materials (such as cotton, synthetic fibers, or blends), undertaking various stages of textile production (like spinning, weaving, processing, dyeing, printing, and garmenting), and then supplying finished fabrics, apparel, or home textile products to global brands, retailers, or distributors. The company makes money by selling these manufactured goods at a margin above its production costs.
2. Key Segments / Revenue Mix
Without specific company data, the exact revenue mix cannot be provided. However, typical segmentation for a textile exporter might include:
Fabrics: Selling processed or unprocessed woven/knitted fabrics.
Apparel/Garments: Manufacturing ready-to-wear clothing for various categories (men's, women's, children's).
Home Textiles: Producing items like bed linen, bath linen, kitchen linen, or curtains.
Geographic Mix: Revenue contributions from different export markets (e.g., North America, Europe, Asia).
The company's primary focus, as implied by its name, would be its export activities.
3. Industry & Positioning
The Indian textile industry is one of the oldest and largest industries, characterized by a vast raw material base (especially cotton), a large skilled labor pool, and competitive manufacturing costs. It is highly fragmented but also includes several large, integrated players like Zenith Exports Ltd. The industry is export-oriented and subject to global fashion trends, economic cycles, and trade policies. Zenith Exports Ltd., as an exporter, likely competes on factors such as quality, design capabilities, price competitiveness, adherence to international compliance standards, and supply chain reliability. Its positioning would be as a significant supplier to international clients within specific product categories (e.g., specific types of fabrics or apparel).
4. Competitive Advantage (Moat)
For an Indian textile exporter, potential competitive advantages often stem from:
Cost Efficiency: Leveraging India's competitive raw material and labor costs, coupled with efficient manufacturing processes and scale, to offer competitive pricing in global markets.
Integrated Operations: If the company has vertically integrated operations (from spinning to garmenting), it can offer better quality control, faster turnaround times, and cost advantages.
Customer Relationships: Long-standing relationships and preferred supplier status with international brands and retailers can create sticky customer bases.
Design and Product Development Capabilities: Ability to innovate and offer diverse designs or specialized textile products that cater to evolving global fashion trends.
Compliance and Quality Standards: Adherence to international quality certifications, sustainability standards, and labor practices, which are crucial for attracting and retaining global buyers.
5. Growth Drivers
Global Textile Demand Growth: Rising disposable incomes globally and increasing population leading to higher demand for textiles and apparel.
"China Plus One" Strategy: Global buyers diversifying their sourcing base away from China, benefiting Indian textile manufacturers.
Capacity Expansion & Modernization: Investments in new machinery and increased production capacity to meet growing demand.
Product Diversification: Expanding into new textile categories or higher-value-added products.
Market Penetration: Entering new export markets or deepening presence in existing ones.
Free Trade Agreements: Favorable trade policies or agreements between India and key importing nations can reduce tariffs and boost competitiveness.
6. Risks
Raw Material Price Volatility: Fluctuations in the prices of cotton or synthetic fibers can impact production costs and margins.
Currency Fluctuations: As an exporter, adverse movements in foreign exchange rates can affect revenues and profitability.
Global Economic Slowdown: Reduced consumer spending in key export markets can lead to lower demand for textile products.
Intense Competition: Competition from other low-cost manufacturing countries (e.g., Bangladesh, Vietnam) and domestic players can exert pressure on pricing.
Trade Barriers & Protectionism: Changes in international trade policies, tariffs, or non-tariff barriers can impact export volumes.
Fashion and Trend Changes: Rapid shifts in global fashion trends can lead to inventory obsolescence if not managed effectively.
Labor Relations & Costs: Labor disputes or significant increases in labor costs can impact operational efficiency and profitability.
7. Management & Ownership
Zenith Exports Ltd., typical of many Indian listed companies, is likely promoted by a founding family or group with significant ownership (promoter holding). The management team usually comprises experienced professionals, often including members of the promoter family, who have deep industry knowledge and long-standing relationships within the textile sector. The ownership structure would typically include promoter holding, institutional investors (domestic and foreign), and public shareholding. The quality of management is critical for navigating the complexities of the global textile market.
8. Outlook
Zenith Exports Ltd. operates in a dynamic but essential global industry. The company stands to benefit from India's inherent strengths as a textile manufacturing hub and the ongoing diversification of global supply chains. However, its performance is closely tied to global economic health, raw material price stability, and international trade policies. While potential for growth exists through capacity expansion and market penetration, the company faces inherent risks from intense competition, currency volatility, and evolving consumer preferences. A balanced outlook suggests that while opportunities for growth exist, the company must effectively manage operational efficiencies, supply chain risks, and adapt to changing market demands to sustain profitability in the long term.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 22 | 18 | 20 | 17 | 16 | 19 | 21 | 18 | 20 | 14 |
| Other Income | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Total Income | 23 | 19 | 21 | 17 | 17 | 20 | 22 | 19 | 21 | 15 |
| Total Expenditure | 22 | 19 | 21 | 17 | 19 | 18 | 22 | 17 | 19 | 14 |
| Operating Profit | 1 | 0 | 0 | 1 | -2 | 1 | -0 | 2 | 1 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 | 0 | 0 |
| Profit Before Tax | 1 | -0 | -0 | 0 | -3 | 1 | 4 | 2 | 1 | 0 |
| Provision for Tax | 0 | -0 | -0 | 0 | -1 | 0 | 1 | 1 | 0 | 0 |
| Profit After Tax | 1 | -0 | -0 | 0 | -2 | 1 | 3 | 1 | 1 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 1 | -0 | -0 | 0 | -2 | 1 | 3 | 1 | 1 | 0 |
| Adjusted Earnings Per Share | 1 | -0.4 | -0.8 | 0.3 | -3.9 | 1.2 | 5.6 | 2.6 | 1.6 | 0.3 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 266 | 243 | 129 | 110 | 99 | 83 | 51 | 91 | 62 | 82 | 72 | 73 |
| Other Income | 6 | 5 | 5 | 6 | 2 | 6 | 4 | 3 | 5 | 4 | 4 | 4 |
| Total Income | 273 | 247 | 133 | 115 | 100 | 89 | 55 | 94 | 67 | 86 | 76 | 77 |
| Total Expenditure | 262 | 240 | 134 | 114 | 101 | 87 | 53 | 90 | 62 | 83 | 76 | 72 |
| Operating Profit | 11 | 7 | -0 | 1 | -1 | 1 | 2 | 4 | 4 | 3 | -0 | 4 |
| Interest | 7 | 3 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 0 |
| Depreciation | 5 | 3 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | -6 | 0 | -0 | 0 | 0 | 0 | 4 | 4 |
| Profit Before Tax | -0 | 0 | -3 | -2 | -10 | -2 | -2 | 1 | 2 | 1 | 2 | 7 |
| Provision for Tax | -0 | -0 | -1 | 0 | -2 | -0 | -0 | 0 | 0 | 0 | 1 | 2 |
| Profit After Tax | 0 | 0 | -2 | -2 | -8 | -1 | -1 | 1 | 2 | 0 | 2 | 5 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | -2 | -2 | -8 | -1 | -1 | 1 | 2 | 0 | 2 | 5 |
| Adjusted Earnings Per Share | 0.2 | 0.3 | -3.8 | -4.3 | -14.6 | -2.7 | -2.4 | 1.9 | 2.9 | 0.6 | 3.2 | 10.1 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -12% | -8% | -3% | -12% |
| Operating Profit CAGR | -100% | -100% | -100% | -100% |
| PAT CAGR | 0% | 26% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -17% | 35% | 16% | 18% |
| ROE Average | 2% | 2% | 1% | -1% |
| ROCE Average | 4% | 3% | 2% | 1% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 92 | 92 | 90 | 88 | 80 | 79 | 77 | 78 | 80 | 80 | 82 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 2 | 1 | 0 | 1 | -2 | -2 | -4 | -3 | -3 | -2 | -1 |
| Total Current Liabilities | 42 | 26 | 17 | 20 | 25 | 18 | 17 | 22 | 19 | 14 | 17 |
| Total Liabilities | 136 | 119 | 108 | 109 | 103 | 94 | 91 | 97 | 95 | 92 | 97 |
| Fixed Assets | 29 | 23 | 21 | 18 | 16 | 15 | 13 | 12 | 10 | 9 | 11 |
| Other Non-Current Assets | 8 | 5 | 13 | 24 | 5 | 6 | 5 | 2 | 13 | 8 | 7 |
| Total Current Assets | 99 | 92 | 74 | 67 | 82 | 74 | 73 | 82 | 72 | 75 | 79 |
| Total Assets | 136 | 119 | 108 | 109 | 103 | 94 | 91 | 97 | 95 | 92 | 97 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 6 | 3 | 4 | 7 | 7 | 3 | 4 | 6 | 8 | 7 | 12 |
| Cash Flow from Operating Activities | 7 | 19 | 12 | 8 | -9 | 17 | 3 | -15 | 19 | -7 | -3 |
| Cash Flow from Investing Activities | 0 | 4 | -3 | -12 | 16 | -10 | 1 | 11 | -16 | 17 | -4 |
| Cash Flow from Financing Activities | -10 | -21 | -6 | 4 | 0 | -6 | -2 | 5 | -5 | -5 | 1 |
| Net Cash Inflow / Outflow | -2 | 1 | 3 | -0 | 7 | 1 | 2 | 2 | -1 | 6 | -6 |
| Closing Cash & Cash Equivalent | 3 | 5 | 7 | 7 | 14 | 4 | 6 | 8 | 7 | 12 | 7 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.16 | 0.29 | -3.79 | -4.33 | -14.58 | -2.65 | -2.4 | 1.87 | 2.92 | 0.56 | 3.17 |
| CEPS(Rs) | 8.6 | 6.76 | -0.57 | -1.17 | -11.57 | 0.48 | 0.64 | 4.25 | 5.34 | 2.44 | 4.69 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 170.14 | 170.43 | 166.56 | 163.37 | 148.72 | 145.82 | 143.02 | 144.84 | 147.75 | 148.72 | 151.9 |
| Core EBITDA Margin(%) | 1.72 | 0.87 | -4.07 | -4.51 | -2.62 | -5.21 | -4.34 | 0.42 | -0.23 | -1.14 | -5.83 |
| EBIT Margin(%) | 2.43 | 1.36 | -1.65 | -0.87 | -8.23 | -0.45 | -0.64 | 2.84 | 4.93 | 2.33 | 4.9 |
| Pre Tax Margin(%) | -0.08 | 0.01 | -2.28 | -2.12 | -9.91 | -2.08 | -3.16 | 1.49 | 3.21 | 0.81 | 3.34 |
| PAT Margin (%) | 0.03 | 0.06 | -1.59 | -2.13 | -7.98 | -1.73 | -2.56 | 1.11 | 2.53 | 0.37 | 2.38 |
| Cash Profit Margin (%) | 1.74 | 1.5 | -0.24 | -0.58 | -6.33 | 0.31 | 0.68 | 2.53 | 4.63 | 1.61 | 3.51 |
| ROA(%) | 0.06 | 0.12 | -1.8 | -2.16 | -7.45 | -1.45 | -1.4 | 1.08 | 1.64 | 0.32 | 1.81 |
| ROE(%) | 0.09 | 0.17 | -2.25 | -2.63 | -9.35 | -1.8 | -1.66 | 1.3 | 2 | 0.38 | 2.11 |
| ROCE(%) | 5.07 | 2.9 | -2.11 | -0.97 | -8.42 | -0.41 | -0.38 | 2.91 | 3.39 | 2.18 | 4.03 |
| Receivable days | 26.15 | 42.09 | 80.42 | 65.13 | 56.54 | 58.93 | 81.03 | 46.81 | 67.58 | 52.78 | 80.91 |
| Inventory Days | 88.93 | 78.75 | 110.73 | 113.85 | 143.61 | 156.94 | 199.42 | 136.72 | 197.72 | 124.13 | 131.08 |
| Payable days | 14.44 | 10.4 | 25.94 | 24.51 | 29.82 | 41.54 | 81.87 | 35.58 | 58.36 | 43.47 | 47.19 |
| PER(x) | 404.14 | 150.34 | 0 | 0 | 0 | 0 | 0 | 51.29 | 28.46 | 300.77 | 67.07 |
| Price/Book(x) | 0.37 | 0.26 | 0.22 | 0.28 | 0.33 | 0.24 | 0.48 | 0.66 | 0.56 | 1.14 | 1.4 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.23 | 0.13 | 0.15 | 0.27 | 0.26 | 0.01 | 0.31 | 0.48 | 0.41 | 0.88 | 1.3 |
| EV/Core EBITDA(x) | 5.67 | 4.66 | -49.38 | 39.53 | -26.46 | 0.88 | 8.87 | 11.24 | 5.9 | 24.52 | -730.1 |
| Net Sales Growth(%) | -15.55 | -8.99 | -46.97 | -14.84 | -9.98 | -15.95 | -38.81 | 78.57 | -31.24 | 31.23 | -11.74 |
| EBIT Growth(%) | -37.12 | -48.97 | -164.26 | 55.05 | -749.23 | 95.43 | 12.74 | 893.09 | 19.47 | -37.99 | 85.6 |
| PAT Growth(%) | -94.92 | 85.83 | -1398.86 | -14.37 | -236.57 | 81.82 | 9.32 | 177.61 | 56.71 | -80.78 | 464.97 |
| EPS Growth(%) | -94.92 | 85.78 | -1398.86 | -14.37 | -236.57 | 81.82 | 9.32 | 177.61 | 56.72 | -80.78 | 464.94 |
| Debt/Equity(x) | 0.34 | 0.14 | 0.08 | 0.13 | 0.16 | 0.11 | 0.1 | 0.18 | 0.12 | 0.07 | 0.09 |
| Current Ratio(x) | 2.35 | 3.5 | 4.21 | 3.37 | 3.3 | 4.14 | 4.3 | 3.81 | 3.88 | 5.52 | 4.74 |
| Quick Ratio(x) | 0.92 | 1.87 | 2.34 | 1.87 | 1.77 | 2.72 | 2.77 | 2 | 2.48 | 3.47 | 3.43 |
| Interest Cover(x) | 0.97 | 1.01 | -2.64 | -0.7 | -4.93 | -0.27 | -0.25 | 2.11 | 2.87 | 1.53 | 3.14 |
| Total Debt/Mcap(x) | 0.92 | 0.53 | 0.35 | 0.45 | 0.49 | 0.44 | 0.21 | 0.27 | 0.21 | 0.06 | 0.07 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 51.75 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 48.25 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.26 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -12% | -8% | -3% | -12% |
| Operating Profit CAGR | -100% | -100% | -100% | -100% |
| PAT CAGR | — | +26% | — | — |
| Share Price CAGR | -17% | +35% | +16% | +18% |
| ROE Average | +2% | +2% | +1% | -1% |
| ROCE Average | +4% | +3% | +2% | +1% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 51.75 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 | 45.54 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 48.25 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 | 54.46 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.28 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 | 0.25 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.26 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 | 0.29 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 |
* The pros and cons are machine generated.
Our experts help you choose the right stocks based on performance, risk, and growth potential.
Looking to buy unlisted shares or need guidance on the investment process? Our expert Private Equity Advisors are here to assist you with accurate information, real-time pricing, and seamless execution.
Want to sell unlisted shares, liquidate your ESOPs, or understand the step-by-step process of liquidation? Connect with our Buying Team for smooth coordination, quick evaluations, and end-to-end support.
Planning to build or grow your portfolio? For Mutual Fund investments, PMS solutions, tailored portfolio creation, and overall wealth management, our dedicated Wealth Team is ready to guide you.