Geist Research

Salcete, India Founded: 2005 • Age: 21 yrs Listed
Offers wastewater treatment, chemical recovery, and zero liquid discharge services to industrial sectors.
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About Geist Research

Geist Research is a publicly listed company based in India founded in 2005 by Kewal Krishan Nohria and Sunil Ghorawat. It offers wastewater treatment, chemical recovery, and zero liquid discharge services to industrial sectors. It operates on a B2B and Service-based Consulting model in Environment and Chemicals & Materials sectors. The company has 39 employees. Its chief executive, as recorded, is Sunil Ghorawat. Its Indian entity Z-Tech (India) Limited reported revenue of ₹161 Cr. Geist Research offers products and services including Effluent Treatment Plant, Zero Liquid Discharge System, and Turnkey Projects. Its focus areas include Environmental, Waste Management, Wastewater Treatment and Chemical Recovery.

Company details

Geist Research, a division of Z-Tech India Ltd., specializes in sustainable technologies for wastewater treatment and resource recovery. They design processes from lab to plant scale, helping chemical, pharma, and agrochemical industries achieve regulatory compliance and profitability. Based in Verna, South Goa, India, they deliver engineering solutions and turnkey projects, focusing on zero liquid discharge systems that recycle water and recover valuable materials while minimizing environmental impact.

  • Headquarters Salcete, India
  • Employees 39
  • Founders Kewal Krishan Nohria, Sunil Ghorawat
  • Stage Public
  • Sectors
    Environment
    Chemicals & Materials
  • Email
    ••••••••
  • Phone
    •••• ••••
  • Website geistwoow.com
  • Social LinkedIn Instagram
  • Legal Name Ztech India Pvt Ltd
  • Date of Incorporation 09 Nov, 1994
  • Jurisdiction New Delhi, Delhi, India
Operational Areas
Environment → Waste & Water Management Systems
Chemicals & Materials → Agro & Specialty Chemicals
Key Metrics
  • Market Cap
    ₹623 Cr

    ZTECH-SM · NSE

  • Share Price
    ₹403.45

    -3.67% today

  • Revenue
    ₹94.40 Cr

    FY 2024-25 · +40.2% YoY

  • EBITDA
    ₹27.96 Cr

    Margin 29.6%

  • Net Profit
    ₹20.15 Cr

    FY 2024-25 · +138.2% YoY

  • P/E (TTM)
    30.9x

    P/B 3.6x

  • ROE
    20.4%

    ROCE 28.2%

  • Debt / Equity
    0.02

    Interest cover 0.8x

  • Employee Count
    39

Products & Services of Geist Research

Geist Research offers a comprehensive portfolio of products and services, including Effluent Treatment Plant, Zero Liquid Discharge System, and Turnkey Projects.

Effluent Treatment Plant
Wastewater Management

System for treating industrial wastewater to ensure regulatory compliance.

Zero Liquid Discharge System
Resource Recovery

Technology that recycles water and recovers chemicals from waste streams.

Turnkey Projects
Engineering Solutions

Comprehensive projects for sustainable industrial wastewater management.

Board of directors of Z-Tech (India) Limited (Geist Research)

Z-Tech (India) Limited is the primary company behind Geist Research. The board of Z-Tech (India) Limited currently have 5 directors; the longest-serving is Sanghamitra Borgohain, appointed in 2019. 17 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Sanghamitra Borgohain
DIN 08578955
Managing Director07 Oct 20197 yrsZ-Tech (India) Limited
Anuj Kumar Poddar
DIN 10248556
Whole-time director28 Jul 20233 yrs 2 moZ-Tech (India) Limited
Aditya Rungta
DIN 02414611
Director17 Jan 20242 yrs 9 moZ-Tech (India) Limited
Steve Austin Pereira
DIN 08566688
Director17 Jan 20242 yrs 9 moZ-Tech (India) Limited
Navneet Singh
DIN 00211381
Director28 Aug 20251 yr 1 moZ-Tech (India) Limited

People of Geist Research

2 people are tracked at Geist Research (2 in leadership); the tracked headcount is 39.

NameRoleGroup
Kewal Krishan Nohria
Co-FounderLeadership
Sunil Ghorawat
Co-Founder, CEOLeadership
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Complete people profiles for Geist Research

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  • Team structure
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IPO & Listings of Geist Research

Geist Research is a publicly listed company on the NSE with ticker symbol ZTECH in India, operating in the Entertainment sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • Listed onNSE: ZTECH
  • Listed entityZ-Tech (India) Limited
  • Exchange sectorEntertainment

Financials of Geist Research

Exchange-reported figures of Z-Tech (India) Limited, the listed company behind Geist Research (NSE: ZTECH-SM).

Financial Highlights

FY 2024-25 · Consolidated
Revenue
₹94.40 Cr
+40.2% YoY
EBITDA
₹27.96 Cr
+138.0% YoY
Profit After Tax
₹20.15 Cr
+138.2% YoY
Net Worth
₹171 Cr
+689.9% YoY
Total Assets
₹173 Cr
+648.9% YoY
Total Debt
₹1.80 Cr
+37.4% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Income statement
Revenue94.4067.3225.7330.6423.48
Revenue growth+40.2%+161.6%-16.0%+30.5%-
EBITDA27.9611.753.070.330.78
EBITDA margin+29.6%+17.5%+11.9%+1.1%+3.3%
Profit before tax27.4611.052.680.160.95
Net profit20.158.462.020.070.65
Net profit margin+21.4%+12.6%+7.9%+0.2%+2.8%
EPS (₹)14.089.0017.880.775.87
Balance sheet
Total assets17323.0910.328.508.86
Net worth17121.639.998.027.94
Total debt1.801.310.710.720.94
Cash & bank3.800.830.241.190.41
Net working capital12616.747.836.787.43
Cash flow
Cash from operations(91.37)0.290.081.68(0.83)
Cash from investing(34.80)(3.89)(0.96)(0.62)(0.17)
Cash from financing1294.19(0.07)(0.27)(0.36)
ParticularsMar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023Jun 2023
Revenue34.9924.1419.0416.2322.1415.8318.5910.76
Revenue growth (YoY)+58.0%+52.5%+2.4%+50.8%----
Other income0.620.080.270.010.03(0.36)0.390.00
EBITDA12.877.743.843.373.422.394.791.15
EBITDA margin+36.8%+32.1%+20.2%+20.8%+15.4%+15.1%+25.8%+10.7%
Depreciation0.140.170.170.170.160.200.150.13
Interest0.030.020.030.010.040.020.020.02
Profit before tax13.327.633.913.203.251.815.011.00
Tax4.231.870.910.840.570.731.32(0.03)
Net profit9.095.763.002.362.681.083.691.03
EPS (₹)7.094.492.342.262.871.1633.461.16
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Income statement
Revenue15694.4067.3225.7330.6422.67
Revenue growth+65.0%+40.2%+161.6%-16.0%+35.2%-
EBITDA43.0027.9611.753.090.340.78
EBITDA margin+27.6%+29.6%+17.5%+12.0%+1.1%+3.4%
Profit before tax44.7127.4611.052.700.180.83
Net profit35.8619.578.452.030.080.62
Net profit margin+23.0%+20.7%+12.6%+7.9%+0.3%+2.7%
EPS (₹)24.6713.689.0018.000.865.41
Balance sheet
Total assets29917324.0312.6510.8111.00
Net worth22417122.5711.359.379.27
Total debt74.951.801.311.161.171.25
Cash & bank12.593.800.830.231.180.24
Net working capital19312616.749.458.388.88
Cash flow
Cash from operations(38.38)(91.37)0.140.091.69(1.36)
Cash from investing(41.20)(34.80)(3.28)(0.97)(0.62)(0.17)
Cash from financing88.361293.74(0.07)(0.13)0.05
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue29.1458.8341.9934.5020.4834.9924.1419.04
Revenue growth (YoY)+42.3%+68.1%+73.9%+81.2%+26.2%---
Other income2.053.890.271.330.100.030.080.27
Total expenses22.4939.4830.3327.4915.4722.1216.4015.20
EBITDA6.6519.3511.667.015.0112.877.743.84
EBITDA margin+22.8%+32.9%+27.8%+20.3%+24.5%+36.8%+32.1%+20.2%
Depreciation1.181.130.370.260.250.140.170.17
Interest1.471.480.130.190.090.030.020.03
Profit before tax6.0520.6311.437.894.7712.737.633.91
Tax2.001.493.811.841.714.231.870.91

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 25 Oct 2026
ParticularsMar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023Jun 2023
Revenue34.9924.1419.0416.2322.1415.8318.5910.76
Revenue growth (YoY)+58.0%+52.5%+2.4%+50.8%----
Other income0.620.080.270.010.03(0.36)0.390.00
EBITDA12.877.743.843.373.422.394.791.15
EBITDA margin+36.8%+32.1%+20.2%+20.8%+15.4%+15.1%+25.8%+10.7%
Depreciation0.140.170.170.170.160.200.150.13
Interest0.030.020.030.010.040.020.020.02
Profit before tax13.327.633.913.203.251.815.011.00
Tax4.231.870.910.840.570.731.32(0.03)
Net profit9.095.763.002.362.681.083.691.03
EPS (₹)7.094.492.342.262.871.1633.461.16
ParticularsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Revenue94.4067.3225.7330.6423.48
Revenue growth+40.2%+161.6%-16.0%+30.5%-
Other income0.390.050.160.200.48
Total expenses66.4455.5722.6630.3122.70
Employee cost6.443.572.762.952.50
EBITDA27.9611.753.070.330.78
EBITDA margin+29.6%+17.5%+11.9%+1.1%+3.3%
Depreciation0.660.640.430.300.17
Interest0.230.110.120.070.14
Profit before tax27.4611.052.680.160.95
Tax7.852.600.730.090.26
Net profit20.158.462.020.070.65
Net profit margin+21.4%+12.6%+7.9%+0.2%+2.8%
EPS (₹)14.089.0017.880.775.87
ParticularsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Equity & liabilities
Share capital14.339.411.101.101.10
Reserves & surplus13312.228.896.926.84
Shareholders' funds (net worth)17121.639.998.027.94
Minority interest0.000.00(0.52)(0.51)(0.50)
Secured loans0.000.000.000.000.00
Unsecured loans1.801.310.710.720.94
Total debt1.801.310.710.720.94
Total liabilities17323.0910.328.508.86
Assets
Gross block12.696.363.182.353.44
Net block9.984.311.501.020.68
Capital work in progress29.380.000.000.000.00
Investments0.00(0.37)0.000.000.00
Inventories2.171.081.020.491.10
Sundry debtors48.8728.5115.0812.1712.16
Cash & bank balances3.800.830.241.190.41
Loans & advances1055.184.573.684.63
Total current assets16035.6020.9117.5318.30
Total current liabilities33.9618.8613.0810.7510.87
Net working capital12616.747.836.787.43
Total assets17323.0910.328.508.86
ParticularsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Opening cash0.830.241.190.411.76
Net cash from operating activities(91.37)0.290.081.68(0.83)
Net cash from investing activities(34.80)(3.89)(0.96)(0.62)(0.17)
Net cash from financing activities1294.19(0.07)(0.27)(0.36)
Net change in cash2.980.59(0.95)0.78(1.35)
Closing cash3.800.830.241.190.41
ParticularsFY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Growth
Sales growth+40.2%+161.6%-16.0%+30.5%-
EBITDA growth+138.0%+282.7%+830.3%-57.7%-
PBT growth+148.5%+312.3%+1575.0%-83.2%+9997.0%
Net income growth+138.2%+318.8%+2785.7%-89.2%-
Revenue CAGR (3Y)+45.5%+42.1%---
EBITDA CAGR (3Y)+339.2%+147.0%---
Profitability & leverage
Net income margin+20.8%+12.6%+7.6%+0.2%+2.9%
Return on capital employed+28.3%+65.8%+28.2%+2.5%+11.8%
Return on net worth+20.4%+53.5%+21.8%+0.9%+8.8%
Debt / equity0.020.060.080.100.12
Long-term debt / equity0.010.020.030.040.05
Interest cover0.840.994.55233.3322.95
Efficiency & per share
Fixed asset turnover9.9114.119.3110.586.83
Inventory turnover58.0964.1134.0838.5421.35
Debtors turnover2.443.091.892.521.93
EPS (₹)14.089.0017.880.775.87
Dividend per share (₹)0.000.000.000.000.00
Book value per share (₹)102.9722.9990.8172.9372.17
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue29.1458.8341.9934.5020.4834.9924.1419.04
Revenue growth (YoY)+42.3%+68.1%+73.9%+81.2%+26.2%---
Other income2.053.890.271.330.100.030.080.27
Total expenses22.4939.4830.3327.4915.4722.1216.4015.20
EBITDA6.6519.3511.667.015.0112.877.743.84
EBITDA margin+22.8%+32.9%+27.8%+20.3%+24.5%+36.8%+32.1%+20.2%
Depreciation1.181.130.370.260.250.140.170.17
Interest1.471.480.130.190.090.030.020.03
Profit before tax6.0520.6311.437.894.7712.737.633.91
Tax2.001.493.811.841.714.231.870.91
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Revenue15694.4067.3225.7330.6422.67
Revenue growth+65.0%+40.2%+161.6%-16.0%+35.2%-
Other income5.600.390.050.150.200.33
Total expenses11366.4455.5722.6430.3021.89
Employee cost0.006.443.572.762.952.50
EBITDA43.0027.9611.753.090.340.78
EBITDA margin+27.6%+29.6%+17.5%+12.0%+1.1%+3.4%
Depreciation2.010.660.640.410.290.15
Interest1.880.230.110.130.070.13
Profit before tax44.7127.4611.052.700.180.83
Tax8.857.852.600.730.090.22
Net profit35.8619.578.452.030.080.62
Net profit margin+23.0%+20.7%+12.6%+7.9%+0.3%+2.7%
EPS (₹)24.6713.689.0018.000.865.41
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Equity & liabilities
Share capital14.4614.339.411.101.101.10
Reserves & surplus17513313.1610.258.278.17
Shareholders' funds (net worth)22417122.5711.359.379.27
Secured loans0.000.000.000.000.000.00
Unsecured loans74.951.801.311.161.171.25
Total debt74.951.801.311.161.171.25
Total liabilities29917324.0312.6510.8111.00
Assets
Gross block63.3912.696.362.811.983.07
Net block58.839.984.311.400.910.56
Capital work in progress23.9829.380.000.000.000.00
Investments0.000.000.580.820.820.82
Inventories3.392.171.081.020.491.10
Sundry debtors93.9748.8728.5115.0812.1712.16
Cash & bank balances12.593.800.830.231.180.24
Loans & advances1211055.184.463.524.34
Total current assets23116035.6020.7917.3617.84
Total current liabilities38.6833.9618.8611.348.988.96
Net working capital19312616.749.458.388.88
Total assets29917324.0312.6510.8111.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Opening cash3.800.800.231.180.241.71
Net cash from operating activities(38.38)(91.37)0.140.091.69(1.36)
Net cash from investing activities(41.20)(34.80)(3.28)(0.97)(0.62)(0.17)
Net cash from financing activities88.361293.74(0.07)(0.13)0.05
Net change in cash8.793.000.60(0.95)0.94(1.47)
Closing cash12.593.800.830.231.180.24
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Growth
Sales growth+65.0%+40.2%+161.6%-16.0%+35.2%-
EBITDA growth+53.8%+138.0%+280.3%+808.8%-56.4%-
PBT growth+62.8%+148.5%+309.3%+1400.0%-78.3%+9997.0%
Net income growth+83.2%+131.6%+316.3%+2437.5%-87.1%-
Revenue CAGR (3Y)+82.3%+45.5%+43.7%---
EBITDA CAGR (3Y)+140.5%+334.9%+147.0%---
Profitability & leverage
Net income margin+23.0%+20.8%+12.6%+7.7%+0.3%+2.7%
Return on capital employed-+28.1%+60.9%+24.1%+2.2%+8.6%
Return on net worth-+20.3%+49.9%+19.1%+1.0%+6.5%
Debt / equity-0.020.070.110.130.13
Long-term debt / equity-0.010.020.030.030.04
Interest cover4.590.840.994.85140.0020.63
Efficiency & per share
Fixed asset turnover-9.9114.6810.7412.137.38
Inventory turnover-58.0964.1134.0838.5420.61
Debtors turnover-2.443.091.892.521.86
EPS (₹)24.6713.689.0018.000.865.41
Dividend per share (₹)0.000.000.000.000.000.00
Book value per share (₹)0.00102.9723.99103.1685.1784.31

Web traffic of Geist Research

The website of Geist Research (geistwoow.com) receives about 1.3K visits a month.

  • Monthly visits
    1.3K

    ▼ 16.3% vs previous month

Top companies in Waste & Water Management Systems

3 companies that operate in the same segment as Geist Research (Waste & Water Management Systems) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Ecozen Solutions
Provider of climate-smart deeptech solutions for renewable energy and sustainable agriculture
2010Pune, Maharashtra, IndiaUSD 76.38 MUSD 56.11 M702
DrinkPrime
Provider of smart water purifier rental and maintenance services
2016Bengaluru, Karnataka, IndiaUSD 19.29 MUSD 3.62 M
Attero
Tech-based solid waste management and recycling solutions are provided.
2008Noida, Uttar Pradesh, IndiaUSD 31.1 MUSD 52.13 M106
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Frequently Asked Questions about Geist Research

Geist Research was founded in 2005.

Geist Research is headquartered in India. It is registered at Goa, India.

Sunil Ghorawat is the CEO of Geist Research, as recorded in our data. They have also founded this company.

Geist Research has 39 employees.

The primary company behind Geist Research, Z-Tech (India) Limited, reported revenue of ₹161 Cr for FY 2026, up 65% year on year.

Geist Research, a division of Z-Tech India Ltd., specializes in sustainable technologies for wastewater treatment and resource recovery. They design processes from lab to plant scale, helping chemical, pharma, and agrochemical industries achieve regulatory compliance and profitability. Based in Verna, South Goa, India, they deliver engineering solutions and turnkey projects, focusing on zero liquid discharge systems that recycle water and recover valuable materials while minimizing environmental impact.

Geist Research offers Effluent Treatment Plant, Zero Liquid Discharge System, and Turnkey Projects.

Yes, Geist Research is publicly traded on NSE under the ticker symbol ZTECH.

Geist Research operates through Z-Tech (India) Limited.

The legal entities of Geist Research currently have 7 directors, including Sanghamitra Borgohain, Navneet Singh, Aditya Rungta and others.

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