Zeal Aqua Ltd (ZEAL) fair value: what the stock is really worth
As of Oct 19, 2026: fair value (intrinsic value) of Zeal Aqua Ltd stock ₹20.77, price ₹10.30, upside +101.7%, quality 58 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 4, 2026.
How to read this chart
60‑month range ₹6.37 – ₹17.59 · fair‑value band ₹14.54 – ₹27.01 · the ₹10.30 price screens below the ₹20.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 4, 2026.
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Zeal Aqua Limited, an aquaculture company, engages in the farming, developing, and harvesting of prawns in India. The company also trades in shrimp seeds, feeds, and medicines. It also exports its products. The company was incorporated in 2009 and is based in Surat, India.
Stock analysis
Zeal Aqua Ltd (ZEAL) currently trades at ₹10.30, while our model-based Fair Value estimate is ₹20.77, implying the stock looks roughly 50.4% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹59.08 per share, and 21 of the 24 models we run sit above the ₹10.30 price.
Bear case: the Asset-Based group reads lowest at ₹3.75, and 3 of the 24 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹14.54 (bear) to ₹27.01 (bull), the price of ₹10.30 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 58/100 (solid quality), in the Consumer Defensive sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Zeal Aqua Ltd reported revenue of ₹6.7B in FY2026 versus ₹3.5B in FY2022, a compound +17.9%/yr. Reported net income was ₹141M in FY2026, compounding +25.2%/yr from FY2022.
Key figures
Market cap ₹1.3B (≈ $13.7M) Micro · P/E ratio 8.8 · P/S ratio 0.19 · EPS (TTM) ₹1.17 · Net margin 2.1% · Return on equity 14.7% · Return on assets (EBIT) 6.7% · Operating margin 5.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 10% fair-value upside, at 102%, ZEAL screens cheaper than that median.
Fair Value models
Bear₹14.54Fair Value ₹20.77Bull₹27.01
Price ₹10.30 · Upside +101.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹0.6507 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+30.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.5%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.3%
’19
’20
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +9.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.9%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.5% → 3%
⚠ Rate on operating basis: 2026 sits 71% above its own trend.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
0.0%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about −4.0% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Farm Products · 290 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+101.7% · Top 25%
Profitability
Return on equity (12 months)14.7% · Top 25%
Return on assets4.1% · Above median
Net margin (12 months)2.1% · Below median
Operating margin (12 months)5.6% · Above median
Growth and dividend
Revenue growth (quarter YoY)21.8% · Top 25%
Balance sheet
Debt / equity0.17× · Above median
Valuation Multiplesvs Farm Products median · lower = cheaper
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Cite: Fair Value Calculator (2026). "Zeal Aqua Ltd Fair Value". https://www.fairvalue-calculator.com/stock/ZEAL
Frequently asked questions
Is Zeal Aqua Ltd (ZEAL) overvalued or undervalued?
As of Oct 4, 2026, our model estimates a fair value of ₹20.77 versus a price of ₹10.30, about +102% upside (undervalued).
What is the fair value of ZEAL?
Our model-based fair value for Zeal Aqua Ltd is ₹20.77 (as of Oct 4, 2026), built from audited fundamentals. The current price: ₹10.30.
What is the quality score of ZEAL?
Zeal Aqua Ltd has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Zeal Aqua Ltd (ZEAL)?
Our model-based price target is the fair value of ₹20.77 (as of Oct 4, 2026) from 24 valuation models. Cautious scenario ₹14.54, optimistic scenario ₹27.01. It is a calculation from audited fundamentals, not an analyst target.
What is the Zeal Aqua Ltd stock forecast for 2026?
Our models put fair value at ₹20.77, about +102% upside versus a price of ₹10.30 (undervalued). Cautious scenario ₹14.54, optimistic scenario ₹27.01. The calculation is refreshed regularly with new filings.
What is the revenue of Zeal Aqua Ltd (ZEAL)?
Zeal Aqua Ltd reported trailing-twelve-month revenue of about ₹6.9B (latest available figure, as of Oct 4, 2026).
What growth is priced into Zeal Aqua Ltd (ZEAL)?
For today's price to be fair in a discounted-cash-flow model, Zeal Aqua Ltd would have to grow free cash flow by 0.0 % per year for five years (discount rate 10.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +17.6 % per year. As of Oct 4, 2026.
What discount rate (WACC) does the fair value of ZEAL use?
Our models discount Zeal Aqua Ltd at 10.9 %: a base by market capitalisation (nano), damped by beta 0.30, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Zeal Aqua Ltd that is 0.0 % per year a year over ten years, using the same discount rate (10.9 %) and the same formula as our fair value.
How much growth has Zeal Aqua Ltd (ZEAL) delivered so far?
Over the past 5 years revenue at Zeal Aqua Ltd grew +17.6 % a year. The price currently implies 0.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Zeal Aqua Ltd (ZEAL) growing?
The median revenue growth in the sector is +0.6 % a year. That is the yardstick for the growth priced into Zeal Aqua Ltd (0.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Zeal Aqua Ltd (ZEAL)?
The free-cash-flow yield on the price is 23.50 %: that much free cash flow Zeal Aqua Ltd produces per unit of market value. When it exceeds the discount rate of our models (10.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zeal Aqua Ltd (ZEAL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zeal Aqua Ltd it is ₹20.77 per share (as of Oct 4, 2026), against a price of ₹10.30. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Zeal Aqua Ltd stock overvalued or undervalued in 2026?
As of Oct 4, 2026, ZEAL trades below its calculated fair value: price ₹10.30, fair value ₹20.77, a gap of about +102% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ZEAL?
No. The price is what the market pays today (₹10.30); the fair value is what the company's own numbers justify (₹20.77). For Zeal Aqua Ltd the two are ₹10.47 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zeal Aqua Ltd worth?
The market values Zeal Aqua Ltd at about ₹1.3B (market capitalisation, as of Oct 4, 2026). Per share that is ₹10.30; our models calculate a fair value of ₹20.77 per share.
What do the bullish and bearish scenarios say about ZEAL?
Our models span a range for Zeal Aqua Ltd: cautious scenario ₹14.54, base ₹20.77, optimistic ₹27.01 per share (as of Oct 4, 2026, price ₹10.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZEAL?
Zeal Aqua Ltd trades at a price-to-earnings ratio of 8.8 (as of Oct 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹20.77 is built from several models across several years. Other multiples: P/B 1.3, P/S 0.2, EV/EBITDA 3.1.
How solid is the balance sheet of Zeal Aqua Ltd (ZEAL)?
Balance-sheet figures for Zeal Aqua Ltd (as of Oct 4, 2026): return on equity 14.7%, debt of 0.17 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is ZEAL from its 52-week high?
Zeal Aqua Ltd trades at ₹10.30, about 38% below its 52-week high of ₹16.68 and 8% above the low of ₹9.52 (as of Oct 19, 2026). Distance from the high says nothing about value: that is what the fair value of ₹20.77 is for.
Which stocks are comparable to Zeal Aqua Ltd?
From the same area (Consumer Defensive) we also value Archer-Daniels-Midland Company, Muyuan Foods Group, Bunge Global SA, Tyson Foods, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Zeal Aqua Ltd stock attractive at the current price?
The data as of Oct 4, 2026: price ₹10.30, calculated fair value ₹20.77 (+102%), Quality Score 58/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ZEAL calculated?
We run Zeal Aqua Ltd through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹20.77, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. Zeal Aqua Ltd currently trades 50 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zeal Aqua Ltd (ZEAL)?
The closing price on Oct 19, 2026 was ₹10.30. Our model-based fair value is ₹20.77, about +102% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zeal Aqua Ltd right now?
The price is below even our cautious bear case (₹14.54). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (₹14.54 to ₹27.01) leaves room in how you read the outcome.
Key figures of Zeal Aqua Ltd
How large is the market capitalisation of Zeal Aqua Ltd (ZEAL)?
The market capitalisation of Zeal Aqua Ltd is ₹1.3B (≈ $13.7M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zeal Aqua Ltd (ZEAL)?
The price-to-sales ratio of Zeal Aqua Ltd is 0.19 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zeal Aqua Ltd (ZEAL)?
Earnings per share at Zeal Aqua Ltd are ₹1.17 (price ÷ EPS = P/E 8.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zeal Aqua Ltd (ZEAL)?
The net margin of Zeal Aqua Ltd is 2.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Zeal Aqua Ltd (ZEAL)?
The return on equity (ROE) of Zeal Aqua Ltd is 14.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zeal Aqua Ltd (ZEAL)?
On an EBIT basis the return on assets of Zeal Aqua Ltd is 6.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zeal Aqua Ltd (ZEAL)?
The operating margin of Zeal Aqua Ltd is 5.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zeal Aqua Ltd (ZEAL)?
Revenue at Zeal Aqua Ltd is growing +21.8% versus a year earlier (3y avg +22.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Zeal Aqua Ltd (ZEAL)?
Earnings per share at Zeal Aqua Ltd are growing +41.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Zeal Aqua Ltd (ZEAL) carry?
The net debt of Zeal Aqua Ltd is ₹1.9B (fiscal year 2026, ≈ 6.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Oct 4, 2026