Zodiac Energy Q2 FY27: Revenue up 72% to ₹166.2 Cr, PAT surges 242% to ₹9.2 Cr
Zodiac Energy reported a strong Q2 FY27 with revenue up 72% to ₹166.2 Cr and PAT surging 242% to ₹9.2 Cr. The company acquired a 63.5% stake in Zenwatt Clean Energy for ₹1.14 Cr and secured new solar project orders. Zodiac Energy aims for ₹1,000 Cr revenue by FY29.
The substantial increase in key financial metrics (revenue, PAT) and strategic acquisitions/expansion plans, such as the investment in Zenwatt and future revenue targets, are likely to have a significant positive impact on investor sentiment and the company's market position.
The company reported significant year-on-year growth in revenue, EBITDA, and profit after tax, indicating strong operational and financial performance. The acquisition of Zenwatt Clean Energy and strategic expansion plans also point towards positive future growth prospects.
Zodiac Energy Limited has announced its financial results for the second quarter of FY27, reporting a significant increase in revenue and profit. The company's revenue from operations grew by 72% year-on-year to ₹166.2 crore, up from ₹96.8 crore in Q2 FY26. EBITDA also saw a substantial rise of 87% to ₹19.2 crore, with the EBITDA margin improving to 11.6% from 10.6%. Profit after tax (PAT) surged by an impressive 242% to ₹9.2 crore, compared to ₹2.7 crore in the same period last year, resulting in a PAT margin of 5.5%, a significant jump from 2.8%. Cash profit also showed strong growth, increasing by 266% to ₹12.4 crore. The company's net debt to equity ratio improved to 1.4x from 2.1x. Business highlights include the acquisition of a 63.5% stake in Zenwatt Clean Energy for ₹1.14 crore, securing solar project orders totaling 24.8 MWp, and winning a ₹7.1 crore contract to build a 2 MW solar power plant in Gujarat. The company also successfully commissioned 80.7 MW of C&I projects. Zodiac Energy is reinforcing its position as an export-oriented EPC player, particularly in Africa, and plans to scale its ground-mounted business while deepening its presence in the rooftop segment. It aims to scale Battery Energy Storage Systems (BESS) execution to tap into a 20-25% CAGR energy storage market opportunity, with a revenue target of ₹1,000 crore by FY29 driven by Zenwatt's expansion. The company is also building a growing annuity-style IPP earnings base, with 14 projects completed and 54.3 MWp installed capacity contributing to Q2 FY27 revenue of ₹4.8 crore. Zodiac Energy is expanding its footprint in Africa, with current market presence in Zambia and Kenya.
The company is strategically acquiring a 63.5% stake in Zenwatt Clean Energy to develop in-house BESS capabilities. Zenwatt will offer mobile, plug-and-play BESS solutions, with revenue models including direct sales to external customers (60%) and deployment alongside Zodiac’s solar EPC and IPP projects (40%). The company plans to establish a 2 GW BESS manufacturing facility near Ahmedabad within 12 months, targeting ₹50 crore in BESS revenue by FY28 with 14-15% EBITDA margins. This move aligns with Zodiac’s focus on emerging clean-energy infrastructure and provides exposure to the high-growth BESS segment.
Financially, for Q2 FY27, revenue from operations stood at ₹166.2 crore, a 71.8% year-on-year increase. EBITDA was ₹19.2 crore, up 86.8%, with an improved EBITDA margin of 11.6%. Profit after tax was ₹9.2 crore, a 241.7% increase, with PAT margin at 5.5%. Earnings Per Share (EPS) was ₹5.9, a 237% rise. The company's balance sheet shows total assets of ₹405.3 crore as of H1 FY27, with significant growth in non-current assets like property, plant, and equipment, and current assets including trade receivables and cash equivalents.
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