Zodiac Energy

Ahmedabad, India Founded: 1992 • Age: 34 yrs Listed
Solar parabolic troughs, water heaters, and PV modules are installed.
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About Zodiac Energy

Zodiac Energy is a publicly listed company based in Ahmedabad (India) founded in 1992. Solar parabolic troughs, water heaters, and PV modules are installed. The company has 172 employees. Its Indian entity Zodiac Energy Limited reported revenue of ₹546 Cr. Its focus areas include Energy, Solar Energy, Solar Products and HVAC.

Company details

Founded in 1992, Zodiac Energy operates in the renewable energy sector, focusing on solar installations in Ahmedabad, India. Solar parabolic troughs, water heaters, and PV modules are provided, along with EPC services for solar steam generators and captive co-generation power plants. Over 150 kW of solar PV capacity has been installed, including one solar steam generator producing 1 ton of steam per hour.

Operational Areas
Energy & Utilities → Renewable & Sustainable Energy
Key Metrics
  • Market Cap
    ₹314 Cr

    ZODIAC · NSE

  • Share Price
    ₹207.36

    -1.98% today

  • Revenue
    ₹544 Cr

    FY 2025-26 · +33.3% YoY

  • EBITDA
    ₹55.78 Cr

    Margin 10.3%

  • Net Profit
    ₹19.97 Cr

    FY 2025-26 · +1.5% YoY

  • P/E (TTM)
    9.6x

    P/B 2.3x

  • ROE
    19.7%

    ROCE 15.2%

  • Debt / Equity
    1.96

    Interest cover 42.1x

  • Employee Count
    172

Board of directors of Zodiac Energy Limited (Zodiac Energy)

Zodiac Energy Limited is the primary company behind Zodiac Energy. The boards of the 3 registered companies of Zodiac Energy currently have 10 directors; the longest-serving is Parul Kunjbihari Shah, appointed in 1998. 15 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Parul Kunjbihari Shah
DIN 00378095
Whole-time director01 Apr 199828 yrs 7 moZodiac Energy Limited
Dhaval Shah
DIN 07933310
Director08 Sep 20179 yrs 2 moZodiac Energy Limited
Kalpesh Lalitchandra Joshi
DIN 07210197
Director08 Sep 20179 yrs 2 moZodiac Energy Limited
Jaxay Shah
DIN 00468436
Director12 Mar 20206 yrs 7 moZodiac Energy Limited
Jay Kunjbihari Shah
DIN 08954281
Director30 Mar 20215 yrs 7 moZenith Power Projects Private Limited
Rakesh Arvindbhai Patel
DIN 00373019
Director01 Sep 20215 yrs 2 moZodiac Energy Limited
Ambar Jayantilal Patel
DIN 00050042
Director01 Sep 20215 yrs 2 moZodiac Energy Limited
Kunjbihari Jugalkishor Shah
DIN 00622460
Designated Partner12 May 20224 yrs 5 moVedang Infra Projects Llp, Zenith Power Projects Private Limited, Zodiac Energy Limited
Pinakin Parmar Mulchandbhai
DIN 08182347
Designated Partner12 May 20224 yrs 5 moVedang Infra Projects Llp
Jaiminbhai Jagdishbhai Shah
DIN 00021880
Director08 Sep 20233 yrs 2 moZodiac Energy Limited

People of Zodiac Energy

1 people are tracked at Zodiac Energy (1 in leadership); the tracked headcount is 172.

NameRoleGroup
Kunj Shah
Managing DirectorLeadership
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IPO & Listings of Zodiac Energy

Zodiac Energy is a publicly listed company on the NSE with ticker symbol ZODIAC in India, operating in the Producer manufacturing 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.

  • IPO date17 Dec 2021
  • Listed onNSE: ZODIAC
  • Listed entityZodiac Energy Ltd.
  • Exchange sectorProducer manufacturing
  • ISININE761Y01019
  • Share price₹206.79 (+1.03% on the day) · 2026-10-14
  • Market capitalisation₹310 Cr
  • Price to earnings13.0
  • EPS (diluted, trailing year)₹15.96
  • Dividend yield0.36%
  • Volume (last session)1,861

Financials of Zodiac Energy

Exchange-reported figures of Zodiac Energy Limited, the listed company behind Zodiac Energy (NSE: ZODIAC).

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹544 Cr
+33.3% YoY
EBITDA
₹55.78 Cr
+50.6% YoY
Profit After Tax
₹19.97 Cr
+1.5% YoY
Net Worth
₹117 Cr
+21.0% YoY
Total Assets
₹363 Cr
+33.3% YoY
Total Debt
₹243 Cr
+39.0% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25
Income statement
Revenue544408
Revenue growth+33.3%-
EBITDA55.7837.04
EBITDA margin+10.3%+9.1%
Profit before tax28.9827.53
Net profit19.9719.67
Net profit margin+3.7%+4.8%
EPS (₹)13.9413.23
Balance sheet
Total assets363272
Net worth11796.57
Total debt243175
Cash & bank33.9218.08
Net working capital220122
Cash flow
Cash from operations16.27(48.84)
Cash from investing(53.98)(105)
Cash from financing49.57153
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue16614221113896.7798.05171104
Revenue growth (YoY)+71.8%+44.6%+23.2%+31.9%+83.4%+23.6%--
Other income0.831.491.380.440.310.341.010.46
EBITDA19.2415.8122.0413.7010.299.7217.6110.32
EBITDA margin+11.6%+11.1%+10.4%+10.0%+10.6%+9.9%+10.3%+9.9%
Depreciation3.262.312.632.722.621.981.720.54
Interest5.215.185.884.534.484.413.952.60
Profit before tax11.609.8114.916.893.503.6712.957.64
Tax2.432.814.291.810.841.053.511.93
Net profit9.177.0010.625.082.662.629.445.71
EPS (₹)5.904.556.992.671.751.776.143.75
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue54440822013814310068.18
Revenue growth+33.3%+85.3%+59.9%-3.7%+42.4%+47.2%-
EBITDA55.5637.0418.957.508.877.144.80
EBITDA margin+10.2%+9.1%+8.6%+5.5%+6.2%+7.1%+7.0%
Profit before tax29.2327.5314.734.397.645.974.26
Net profit19.9819.6710.883.085.484.432.99
Net profit margin+3.7%+4.8%+4.9%+2.2%+3.8%+4.4%+4.4%
EPS (₹)13.9413.237.502.183.733.024.10
Balance sheet
Total assets33527289.1482.6551.2141.4329.62
Net worth11796.5747.5736.0532.9127.4023.48
Total debt21717540.8445.9217.7512.535.80
Cash & bank32.9318.0810.215.573.402.550.18
Net working capital18912282.0766.7944.1838.3827.00
Cash flow
Cash from operations47.61(48.84)15.87(23.15)2.30(4.00)(0.13)
Cash from investing(59.36)(105)(4.90)(3.05)(3.86)(1.63)(0.77)
Cash from financing22.62153(9.83)24.992.935.720.95
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue16514221113896.7898.05171104
Revenue growth (YoY)+70.3%+44.6%+23.2%+31.9%+83.4%+23.6%--
Other income1.031.481.340.540.300.341.010.46
Total expenses14712718912486.5188.3615494.01
EBITDA18.0715.0621.8113.6910.279.6917.6110.32
EBITDA margin+11.0%+10.6%+10.3%+10.0%+10.6%+9.9%+10.3%+9.9%
Depreciation2.362.312.632.722.621.981.720.54
Interest4.604.635.474.494.414.413.952.60
Profit before tax12.149.6015.057.023.543.6412.957.64
Tax2.962.584.421.940.860.953.511.93

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 10 Nov 2026
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue16614221113896.7798.05171104
Revenue growth (YoY)+71.8%+44.6%+23.2%+31.9%+83.4%+23.6%--
Other income0.831.491.380.440.310.341.010.46
EBITDA19.2415.8122.0413.7010.299.7217.6110.32
EBITDA margin+11.6%+11.1%+10.4%+10.0%+10.6%+9.9%+10.3%+9.9%
Depreciation3.262.312.632.722.621.981.720.54
Interest5.215.185.884.534.484.413.952.60
Profit before tax11.609.8114.916.893.503.6712.957.64
Tax2.432.814.291.810.841.053.511.93
Net profit9.177.0010.625.082.662.629.445.71
EPS (₹)5.904.556.992.671.751.776.143.75
ParticularsFY 2025-26FY 2024-25
Revenue544408
Revenue growth+33.3%-
Other income2.461.89
Total expenses488371
Employee cost12.619.34
EBITDA55.7837.04
EBITDA margin+10.3%+9.1%
Depreciation9.952.69
Interest19.318.71
Profit before tax28.9827.53
Tax7.997.56
Net profit19.9719.67
Net profit margin+3.7%+4.8%
EPS (₹)13.9413.23
ParticularsFY 2025-26FY 2024-25
Equity & liabilities
Share capital15.1215.10
Reserves & surplus10281.47
Shareholders' funds (net worth)11796.57
Minority interest1.820.00
Secured loans211156
Unsecured loans31.9718.81
Total debt243175
Total liabilities363272
Assets
Gross block14395.04
Net block13191.90
Capital work in progress2.207.47
Investments8.170.00
Inventories12851.47
Sundry debtors11357.07
Cash & bank balances33.9218.08
Loans & advances54.2358.80
Total current assets330185
Total current liabilities10963.47
Net working capital220122
Total assets363272
ParticularsFY 2025-26FY 2024-25
Opening cash1.621.57
Net cash from operating activities16.27(48.84)
Net cash from investing activities(53.98)(105)
Net cash from financing activities49.57153
Net change in cash11.860.05
Closing cash33.9218.08
ParticularsFY 2025-26FY 2024-25
Growth
Sales growth+33.3%-
EBITDA growth+50.6%-
PBT growth+5.3%+9997.0%
Net income growth+1.5%-
Profitability & leverage
Net income margin+3.9%+4.9%
Return on capital employed+15.3%+13.3%
Return on net worth+19.7%+20.7%
Debt / equity1.961.81
Long-term debt / equity1.061.11
Interest cover42.1325.36
Efficiency & per share
Fixed asset turnover4.574.29
Inventory turnover6.047.92
Debtors turnover6.397.15
EPS (₹)13.9413.23
Dividend per share (₹)0.750.75
Book value per share (₹)77.2863.95
ParticularsSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024
Revenue16514221113896.7898.05171104
Revenue growth (YoY)+70.3%+44.6%+23.2%+31.9%+83.4%+23.6%--
Other income1.031.481.340.540.300.341.010.46
Total expenses14712718912486.5188.3615494.01
EBITDA18.0715.0621.8113.6910.279.6917.6110.32
EBITDA margin+11.0%+10.6%+10.3%+10.0%+10.6%+9.9%+10.3%+9.9%
Depreciation2.362.312.632.722.621.981.720.54
Interest4.604.635.474.494.414.413.952.60
Profit before tax12.149.6015.057.023.543.6412.957.64
Tax2.962.584.421.940.860.953.511.93
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue54440822013814310068.18
Revenue growth+33.3%+85.3%+59.9%-3.7%+42.4%+47.2%-
Other income2.421.890.970.840.980.300.31
Total expenses48837120113013493.2363.38
Employee cost12.619.346.314.574.033.572.27
EBITDA55.5637.0418.957.508.877.144.80
EBITDA margin+10.2%+9.1%+8.6%+5.5%+6.2%+7.1%+7.0%
Depreciation9.952.690.780.770.610.460.11
Interest18.808.714.413.181.601.010.74
Profit before tax29.2327.5314.734.397.645.974.26
Tax8.167.563.771.192.171.531.27
Net profit19.9819.6710.883.085.484.432.99
Net profit margin+3.7%+4.8%+4.9%+2.2%+3.8%+4.4%+4.4%
EPS (₹)13.9413.237.502.183.733.024.10
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital15.1215.1014.6314.6314.6314.637.32
Reserves & surplus10281.4732.9421.4218.2812.7716.16
Shareholders' funds (net worth)11796.5747.5736.0532.9127.4023.48
Secured loans18815628.5439.2112.2912.535.80
Unsecured loans29.2718.8112.306.715.460.000.00
Total debt21717540.8445.9217.7512.535.80
Total liabilities33527289.1482.6551.2141.4329.62
Assets
Gross block14095.046.754.584.532.821.35
Net block12891.904.172.743.472.360.58
Capital work in progress1.447.470.000.000.000.000.00
Investments17.630.000.000.000.000.000.00
Inventories12851.4714.1216.7729.3018.5411.20
Sundry debtors11357.0778.4241.3930.3822.7725.34
Cash & bank balances32.9318.0810.215.573.402.550.18
Loans & advances54.2158.805.8115.129.058.933.90
Total current assets32918510978.8572.1352.7940.62
Total current liabilities13963.4726.4912.0627.9514.4113.62
Net working capital18912282.0766.7944.1838.3827.00
Total assets33527289.1482.6551.2141.4329.62
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash1.621.570.431.640.270.180.13
Net cash from operating activities47.61(48.84)15.87(23.15)2.30(4.00)(0.13)
Net cash from investing activities(59.36)(105)(4.90)(3.05)(3.86)(1.63)(0.77)
Net cash from financing activities22.62153(9.83)24.992.935.720.95
Net change in cash10.870.051.14(1.21)1.370.090.05
Closing cash32.9318.0810.215.573.402.550.18
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+33.3%+85.3%+59.9%-3.7%+42.4%+47.2%-
EBITDA growth+50.0%+95.5%+152.7%-15.5%+24.2%+48.8%-
PBT growth+6.2%+86.9%+235.5%-42.5%+28.0%+40.1%-6.0%
Net income growth+1.6%+80.8%+253.3%-43.8%+23.7%+48.2%-
Revenue CAGR (3Y)+58.1%+41.8%+29.9%+26.4%+31.2%+37.8%+59.8%
EBITDA CAGR (3Y)+94.9%+61.0%+38.5%+16.0%+22.9%+32.2%+81.7%
Profitability & leverage
Net income margin+3.9%+4.9%+5.0%+2.3%+3.8%+4.4%+4.4%
Return on capital employed+15.8%+20.1%+22.3%+11.3%+20.0%+19.6%+18.4%
Return on net worth+19.8%+27.7%+26.2%+9.3%+18.1%+17.4%+13.7%
Debt / equity1.841.501.040.920.500.360.23
Long-term debt / equity0.950.830.270.280.170.020.00
Interest cover41.2225.3624.2747.2519.3715.1215.78
Efficiency & per share
Fixed asset turnover4.638.0138.8530.2238.9048.1454.76
Inventory turnover6.0412.4314.255.985.986.757.64
Debtors turnover6.396.023.673.845.384.173.17
EPS (₹)13.9413.237.502.183.733.024.10
Dividend per share (₹)0.750.750.000.000.000.000.00
Book value per share (₹)77.2863.9532.5124.6422.4918.7332.09

Web traffic of Zodiac Energy

The website of Zodiac Energy (zodiacenergy.com) receives about 6.3K visits a month.

  • Monthly visits
    6.3K

    ▲ 56.9% vs previous month

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Top companies in Renewable & Sustainable Energy

3 companies that operate in the same segment as Zodiac Energy (Renewable & Sustainable Energy) in India, ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Husk Power Systems
Hybrid renewable energy solutions are provided for rural communities.
2008Patna, Bihar, IndiaUSD 73.99 MUSD 3.46 M294
CleanMax
Solar energy projects are developed for commercial and industrial clients.
2011Mumbai, Maharashtra, IndiaUSD 442.67 MUSD 166.51 M365
Waaree Energies
Manufacturer of solar PV modules
1990Mumbai, Maharashtra, IndiaUSD 111.38 MUSD 2.77 B8,690
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Related news about Zodiac Energy

ZODIAC ENERGY: Q2 SL NET PROFIT 92M RUPEES VS 27M (YOY)
Exchange Update • 11 days ago
ZODIAC ENERGY: Q2 EBITDA 192M RUPEES VS 103M (YOY); Q2 EBITDA MARGIN 11.6% VS 10.6% (YOY)
Exchange Update • 11 days ago
Zodiac Energy shares gain after securing order for 2,500 Kwp solar plant - CNBC TV18
CNBCTV18 • 2 months ago
Zodiac Energy consolidated net profit rises 160.97% in the June 2026 quarter | Capital Market News - Business Standard
Business Standard • 2 months ago
Zodiac Energy March-Quarter Consol Net Profit 106.3 Million Rupees
Reuters • 5 months ago
Zodiac Energy Gets Order Worth 54.5 Million Rupees
Reuters • 6 months ago
Zodiac Energy Receives LoI For Turnkey Solar Power Project In Zambia
Reuters • 6 months ago
Zodiac Energy Buys Majority Stake In Shamli Solar Projects
Reuters • 8 months ago
Zodiac Energy Dec-Quarter Consol Net Profit 50.7 Million Rupees
Reuters • 9 months ago
Zodiac Energy Commissions Three Solar Power Plants In Gujarat
Reuters • 11 months ago
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Frequently Asked Questions about Zodiac Energy

Zodiac Energy was founded in 1992.

Zodiac Energy is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.

Zodiac Energy has 172 employees.

The primary company behind Zodiac Energy, Zodiac Energy Limited, reported revenue of ₹546 Cr for FY 2026, up 33% year on year.

Founded in 1992, Zodiac Energy operates in the renewable energy sector, focusing on solar installations in Ahmedabad, India. Solar parabolic troughs, water heaters, and PV modules are provided, along with EPC services for solar steam generators and captive co-generation power plants. Over 150 kW of solar PV capacity has been installed, including one solar steam generator producing 1 ton of steam per hour.

Yes, Zodiac Energy is publicly traded on NSE under the ticker symbol ZODIAC.

Zodiac Energy is associated with 3 legal entities: Zodiac Energy Limited, Vedang Infra Projects Llp, Zenith Power Projects Private Limited.

The legal entities of Zodiac Energy currently have 13 directors, including Kunjbihari Jugalkishor Shah, Pinakin Parmar Mulchandbhai, Kunjbihari Shah and others.

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