Z-Tech (India) Limited, incorporated as a private limited company on November 9, 1994, transitioned to a public limited company in January 2024. The company has successfully evolved from a traditional civil engineering firm into a diversified engineering solutions provider, with a strong emphasis on sustainable and innovative practices.
Z-Tech India Ltd specializes in the design, development, and operations of theme-based city parks, industrial wastewater management, and specialized geotechnical solutions. The company operates across three distinct business verticals, each contributing significantly to its revenue stream while maintaining a robust focus on environmental sustainability and technological innovation.
Z-Tech's operations are segmented into three core verticals:
This segment involves creating urban green spaces, beautification artwork, and infrastructure. It includes landscape designing, sourcing and execution of waste materials, and transforming them into meaningful and attractive showpieces. The approach prioritizes ecological, social, and economic considerations throughout the planning, design, and operational phases. Z-Tech has developed 6 urban green nests and reclaimed and repurposed over 5,000 tonnes of waste.
As of March 31, 2024, this relatively new business segment (started in FY 2023) contributes 58.31% to total revenues, demonstrating its significant growth potential.
Utilizing proprietary GEIST technology, Z-Tech develops solutions for the recovery of chemicals from industrial wastewater streams. The company offers turnkey solutions for achieving profitable Zero Liquid Discharge (ZLD). This segment, introduced in FY 2022, serves 6+ clients and has successfully recycled over 517 million gallons, reflecting the company's commitment to addressing industrial environmental challenges through innovative technology.
This is Z-Tech's foundational business segment, operational since its inception. The company offers Engineering, Procurement, and Construction (EPC) along with Operations and Maintenance (O&M) services for complex soil and rock mechanics challenges. Z-Tech originally designs civil engineering products and services with state-of-the-art specialty in Geo-Technical Specialised Solutions for infrastructure and civil construction projects across India.
Z-Tech (India) Limited currently holds a market capitalization of ₹804 crore, having witnessed a significant increase of 106% in its market cap over the past year. The company reported a revenue of ₹94.4 crore and a profit of ₹20.2 crore for the relevant period.
Recent Financial Highlights:
- Q4 FY2024-25 (March 2025): Consolidated profit of ₹9.08 crore on a total income of ₹35.61 crore.
- FY2023-24: Profit of ₹7.79 crore on a total income of ₹67.32 crore.
Key Financial Metrics:
- 52-week High Share Price: ₹731.15
- 52-week Low Share Price: ₹229.10
- P/E Ratio: 93.83
- P/B Ratio: 33.40
- 1-year Returns: 124.17%
- Debt Status: Almost debt-free balance sheet.
Despite its robust profit reporting, the company is not currently paying out dividends, indicating a strategic focus on reinvestment for future growth. Challenges include high debtors of 189 days and working capital days increasing from 222 days to 471 days.
Ms. Sanghamitra Borgohain, the promoter and managing director of Z-Tech (India) Limited, is a first-generation entrepreneur with over 13 years of extensive experience in the civil construction industry. Her leadership has been pivotal in steering the company towards its diversified and sustainable engineering focus.
Promoter holding in Z-Tech (India) Ltd stood at 54.25% as of March 2025, a decrease from 60.75% as of September 2024, indicating some dilution in promoter shareholding.
Z-Tech operates under various business models, including Hybrid Annuity Model (HAM), EPC & O&M, and Public Private Partnership (PPP). This flexible approach allows the company to effectively collaborate with government and private partners, ensuring the sustainability and economic viability of its projects across different funding and operational needs.
The company's significant operational concentration in Delhi, where 57.66% of its revenue was generated as of March 31, 2024, presents both substantial opportunities for focused growth and potential geographical concentration risks.
Z-Tech India Limited offers a unique investment opportunity within the sustainable engineering sector, characterized by diversified revenue streams and a strong commitment to environmental solutions. The company's consistent profitability, coupled with its innovative technologies and experienced leadership, positions it for continued growth.
Recent positive developments include the company securing multiple orders worth ₹9.5 crore from various entities, signaling sustained business momentum and demand for its specialized services. Z-Tech (India) Limited is an emerging player with significant growth potential across its three distinct business verticals, supported by cutting-edge technologies and a strong leadership in environmental solutions.
