Zenith Exports Limited (ZENITHEXPO) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Zenith Exports Limited ₹100, price ₹203, upside -50.6%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Zenith Exports Limited engages in the leather goods and textile fabrics businesses for the home and apparel industries in India and internationally. It operates through Silk Fabrics & Made-ups; Industrial Leather H/Gloves & Made-Ups; Yarns; and Weavings Silk Fabrics (100% EOU) segments.
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Zenith Exports Limited engages in the leather goods and textile fabrics businesses for the home and apparel industries in India and internationally. It operates through Silk Fabrics & Made-ups; Industrial Leather H/Gloves & Made-Ups; Yarns; and Weavings Silk Fabrics (100% EOU) segments. The company offers silk, velvet, and cotton fabrics; industrial leather hand gloves; and made ups. It also trades in cotton, as well as export's its products. Zenith Exports Limited was incorporated in 1969 and is headquartered in Kolkata, India.
Stock analysis
Zenith Exports Limited (ZENITHEXPO) currently trades at ₹203.04, while our model-based Fair Value estimate is ₹100.33, 50.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of ₹181.72 per share, and 0 of the 19 models we run sit above the ₹203.04 price.
Bear case: the Earnings-Based group reads lowest at ₹35.27, and 19 of the 19 models stay below the price. Evidence for this calculation is medium.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zenith Exports Limited reported revenue of ₹647M in FY2026 versus ₹882M in FY2022, a compound −7.5%/yr. Reported net income was ₹22.9M in FY2026, compounding +22.8%/yr from FY2022.
Key figures
Market cap ₹1.1B (≈ $11.4M) · P/E ratio 47.9 · P/S ratio 1.70 · EPS (TTM) ₹4.24 · Net margin 3.5% · Return on equity 2.8% · Return on assets (EBIT) −1.7% · Operating margin −8.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 22% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −11% fair-value upside, at −51%, ZENITHEXPO screens richer than that median.
Fair Value models
Bear ₹100.33Fair Value ₹100.33Bull ₹100.33
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹2.15 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.Evidence ⓘEvidence = 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.65/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−10.3%
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.
+2.5%
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.
+5.9%
Start year 2021 (pandemic). Over 10 years: −11.8% a year
Revenue growth 20 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.
−5.2%
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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. 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.
+17.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+17.8%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.17.8% vs 34.2%, slowing
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.−3% → −1%
Start year 2021 (pandemic)
⚠ Revenue per share shrinking 11.6%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Growth Forecast
Price in line with expectations
The price assumes about as much growth as 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).
+8.5%
Yearly growth needed for the next five years to justify today's price.
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 +4.2% 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.Textile Manufacturing · 335 stocks
Beats the industry median on 2/11 measures
Overall it trails its industry peers.
Valuation
Quality Score63 · Top 25%
Fair Value upside−50.6% · Below median
Profitability
Return on equity (TTM)2.8% · Below median
Return on assets−0.2% · Bottom 25%
Net margin (TTM)3.5% · Above median
Operating margin (TTM)−8.7% · Bottom 25%
Growth and dividend
Revenue growth−37.3% · Bottom 25%
Valuation Multiplesvs Textile Manufacturing median · lower = cheaper
P/E (TTM)47.9× · Priciest 25%
P/B1.30× · Pricier than median
P/S (TTM)1.70× · Pricier than median
P/FCF16.6× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 10
FUTURE (revenue growth)0· sector 0
PAST (return on equity)11· sector 16
HEALTH (low debt)100· sector 95
DIVIDEND (yield)0· sector 38
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Zenith Exports Limited (ZENITHEXPO) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹100.33 versus a price of ₹203.04, about −51% upside (overvalued).
What is the fair value of ZENITHEXPO?
Our model-based fair value for Zenith Exports Limited is ₹100.33 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹203.04.
What is the quality score of ZENITHEXPO?
Zenith Exports Limited has a Quality Score of 63/100. 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 Zenith Exports Limited (ZENITHEXPO)?
Our model-based price target is the fair value of ₹100.33 (as of Sep 27, 2026) from 19 valuation models. It is a calculation from audited fundamentals, not an analyst target.
What is the Zenith Exports Limited stock forecast for 2026?
Our models put fair value at ₹100.33, about −51% upside versus a price of ₹203.04 (overvalued). The calculation is refreshed regularly with new filings.
What is the revenue of Zenith Exports Limited (ZENITHEXPO)?
Zenith Exports Limited reported trailing-twelve-month revenue of about ₹647M (latest available figure, as of Sep 27, 2026).
What growth is priced into Zenith Exports Limited (ZENITHEXPO)?
For today's price to be fair in a discounted-cash-flow model, Zenith Exports Limited would have to grow free cash flow by +8.5 % per year for five years (discount rate 12.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.9 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of ZENITHEXPO use?
Our models discount Zenith Exports Limited at 12.0 %: a base by market capitalisation (nano), damped by beta 0.87, 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 Zenith Exports Limited that is +8.5 % per year a year over ten years, using the same discount rate (12.0 %) and the same formula as our fair value.
How much growth has Zenith Exports Limited (ZENITHEXPO) delivered so far?
Over the past 5 years revenue at Zenith Exports Limited grew +5.9 % a year. The price currently implies +8.5 % 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 Zenith Exports Limited (ZENITHEXPO) growing?
The median revenue growth in the sector is +3.1 % a year. That is the yardstick for the growth priced into Zenith Exports Limited (+8.5 % 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 Zenith Exports Limited (ZENITHEXPO)?
The free-cash-flow yield on the price is 6.03 %: that much free cash flow Zenith Exports Limited produces per unit of market value. When it exceeds the discount rate of our models (12.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zenith Exports Limited (ZENITHEXPO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zenith Exports Limited it is ₹100.33 per share (as of Sep 27, 2026), against a price of ₹203.04. It is the blended result of 19 valuation models (cash flow, earnings, asset, dividend).
Is Zenith Exports Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, ZENITHEXPO trades above its calculated fair value: price ₹203.04, fair value ₹100.33, a gap of about −51% (overvalued). 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 ZENITHEXPO?
No. The price is what the market pays today (₹203.04); the fair value is what the company's own numbers justify (₹100.33). For Zenith Exports Limited the two are ₹102.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zenith Exports Limited worth?
The market values Zenith Exports Limited at about ₹1.1B (market capitalisation, as of Sep 27, 2026). Per share that is ₹203.04; our models calculate a fair value of ₹100.33 per share.
What is the P/E ratio of ZENITHEXPO?
Zenith Exports Limited trades at a price-to-earnings ratio of 47.9 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹100.33 is built from several models across several years. Other multiples: P/B 1.3, P/S 1.7.
How solid is the balance sheet of Zenith Exports Limited (ZENITHEXPO)?
Balance-sheet figures for Zenith Exports Limited (as of Sep 27, 2026): return on equity 2.8%. They feed the Quality Score of 63/100, which measures business quality independently of the share price.
How far is ZENITHEXPO from its 52-week high?
Zenith Exports Limited trades at ₹203.04, about 22% below its 52-week high of ₹258.89 and 13% above the low of ₹178.98 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹100.33 is for.
Which stocks are comparable to Zenith Exports Limited?
From the same area (Consumer Cyclical) we also value Tongkun Group, Shenzhou International Group, Inner Mongolia ERDOS Resources Co, Far Eastern New Century Corporation, 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 Zenith Exports Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹203.04, calculated fair value ₹100.33 (−51%), Quality Score 63/100, from 19 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 ZENITHEXPO calculated?
We run Zenith Exports Limited through 19 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 ₹100.33, 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 14.5 % above its aggregate fair value. Zenith Exports Limited itself currently trades above fair value. 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 Zenith Exports Limited (ZENITHEXPO)?
The closing price on Oct 1, 2026 was ₹203.04. Our model-based fair value is ₹100.33, about −51% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zenith Exports Limited right now?
The price sits above even our optimistic bull case (₹100.33). The favourable scenario is already priced in. Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Zenith Exports Limited
How large is the market capitalisation of Zenith Exports Limited (ZENITHEXPO)?
The market capitalisation of Zenith Exports Limited is ₹1.1B (≈ $11.4M). 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 Zenith Exports Limited (ZENITHEXPO)?
The price-to-sales ratio of Zenith Exports Limited is 1.70 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zenith Exports Limited (ZENITHEXPO)?
Earnings per share at Zenith Exports Limited are ₹4.24 (price ÷ EPS = P/E 47.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zenith Exports Limited (ZENITHEXPO)?
The net margin of Zenith Exports Limited is 3.5% (fiscal year 2026). 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 Zenith Exports Limited (ZENITHEXPO)?
The return on equity (ROE) of Zenith Exports Limited is 2.8% (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 Zenith Exports Limited (ZENITHEXPO)?
On an EBIT basis the return on assets of Zenith Exports Limited is −1.7% (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 Zenith Exports Limited (ZENITHEXPO)?
The operating margin of Zenith Exports Limited is −8.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zenith Exports Limited (ZENITHEXPO)?
Revenue at Zenith Exports Limited is growing −37.3% versus a year earlier (3y avg +2.5%). 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 Zenith Exports Limited (ZENITHEXPO)?
Earnings per share at Zenith Exports Limited are growing −75.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Zenith Exports Limited (ZENITHEXPO) hold?
Zenith Exports Limited holds more cash than debt, ₹143M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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