ALFA Finder
| Q2 Revenue | ₹43.21 Cr25.2% YoY Growth |
|---|---|
| EBITDA Margin | 29.57%Up from 20.32% YoY |
| Market Cap | ₹604.93 CrConstruction & Eng. |
| PE TTM | 16.87Sector PE 33.46 |
Key highlights
- Q2 FY27 revenue reached ₹43.21 Cr, marking a 25.24% YoY and 48.28% QoQ growth
- EBITDA grew 82.31% YoY to ₹12.78 Cr, with margins expanding from 20.3% to 29.6%
- The Creative Park segment contributed 88.8% of Q2 revenue, up from previous levels
- Net Profit for the quarter stood at ₹7.89 Cr, a 30.19% increase over the previous year
- Order book remains healthy at approximately ₹350 Cr, supported by an ₹807 Cr enquiry funnel
- Management targets 25 operational parks by the end of FY27, up from 10 currently
Strategic Pivot to Zyng Annuity Platform
Z-Tech is aggressively transitioning from a traditional asset-heavy EPC contractor to a capital-light consumer infrastructure platform. The company recently rebranded its theme park vertical as ZyngPark, focusing on creating affordable experiential destinations. This model utilizes a recurring multi-revenue annuity structure, targeting margins of 30% or more compared to the 8-14% typical of standard tender contracts.
The Creative Park segment dominated the quarter's revenue breakup at 88.8%, reflecting this strategic shift. By overlaying consumer culture onto ready civil assets, the company aims to convert underused urban spaces into high-density community destinations, generating revenue through ticketing, food and beverage, and event activations.
Financial Performance and Regional Concentration
- H1 FY27 revenue stood at ₹72.35 Cr, a 31.6% increase compared to ₹54.98 Cr in H1 FY26.
- Half-yearly EBITDA grew 61.34% to ₹19.41 Cr, reflecting improved operational leverage.
- Revenue remains heavily concentrated in North India, which accounts for 90% of total billings.
- Government contracts continue to be the primary revenue driver, representing 63% of the mix.
- Finance costs increased to ₹1.45 Cr in Q2 compared to ₹0.19 Cr in the same period last year.
- The company reported a basic EPS of ₹5.22 for the quarter, up 23.4% year-on-year.
Operational Growth and Future Outlook
As part of our strategic branding initiative, we have rebranded our theme park business under the name ZyngPark, creating a distinct identity for our experiential entertainment vertical. This unified brand will encompass all existing and future theme park assets, enabling stronger customer engagement and enhanced market visibility.
Infrastructure Pipeline and Growth Guidance
Beyond its park operations, Z-Tech maintains a specialized Engineered Infra vertical with a ₹248 crore order book. The company recently established a technical lab in Vadodara to accelerate the development of customized solutions for landslides, rockfalls, and water management. While management previously guided for total FY27 revenue of ₹250 to ₹260 crore on May 21, 2026, the current growth trajectory for the ZyngPark segment is particularly steep, with projected revenue for this vertical alone reaching ₹42 crore in FY27 compared to just ₹8 crore in FY26.
The company is exploring franchise models, including COFO and FOCO options, to further mitigate risk while scaling nationally.
| Date | Announcement | Amount |
|---|---|---|
| 13 Nov 2026 | Q2 FY27 Revenue from OperationsSource: multibagg.ai | ₹43.21 Cr |
| 14 Aug 2026 | Q1 FY27 earnings call FY27 park recurring revenue guidanceSource: NSE filing | ₹42.00 Cr |
| 13 Aug 2026 | Q1 FY27 Revenue from OperationsSource: NSE filing | ₹29.14 Cr |
| 21 May 2026 | Q4 FY26 earnings call FY27 total revenue guidanceSource: NSE filing | – |
| 20 May 2026 | Q4 FY26 Revenue from OperationsSource: univest.in | ₹58.83 Cr |
| 12 Feb 2026 | Q3 FY26 Revenue from OperationsSource: univest.in | ₹41.99 Cr |
What to watch next
- Completion and launch of the woodland-themed park in Ghaziabad
- Expansion of operational parks from 10 to the year-end target of 25
- Execution of the ₹350 crore order book across the North and East regions
- Potential launch of win-back and event-based retargeting digital marketing campaigns
“Z-Tech is focused on scaling its presence across core infrastructure segments, diversifying its order book, and leveraging its engineering capabilities to drive sustainable, long-term growth.”
| Share price | ₹398.25 |
|---|---|
| Market capitalisation | ₹604.93 Cr |
| Revenue (annual) | ₹155.79 Cr |
| Net profit (annual) | ₹35.86 Cr |
| Revenue (latest quarter) | ₹43.21 Cr+48.28% vs previous quarter |
| Net profit (latest quarter) | ₹7.89 Cr+94.81% vs previous quarter |
| P/E (TTM) | 16.87×Sector 33.46× |
| Promoter holding | 52.05%-1.49% QoQ |
| FII holding | 0%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Investor presentation by Z-Tech (India) Limited detailing Q2 FY27 financial results and the ZyngPark strategic initiative. Market figures from a third-party data provider.
