Z-Tech (India) Ltd(ZTECH)

NSE: ZTECH

₹ 403.8-3.58%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 601 crUpdated: 24 Oct 2026

About

Z-Tech (India) Ltd started in 1994 as a civil construction firm and is based in Delhi NCR. It works in three segments: Creative Parks (theme-based recreational parks built under a PPP model), Engineering Infrastructure (geotechnical solutions) and Chemical Recovery (recovering chemicals from industrial wastewater). Revenue was 155.79 crore in FY26. The company is listed on NSE Emerge.^[1][2]

Business segments

Sustainable Theme Park Development: revenue of 112.61 crore in FY26, or 69.8% of revenue, with a 37.5% EBIT margin.^[3]
Other Segment Business (geotech and water): revenue of 43.18 crore in FY26, or 26.8% of revenue, with an 11.4% EBIT margin.^[3]
Creative Park division revenue was about ₹22 cr in Q1 FY27, up from about ₹15 cr in Q1 FY26. It made up nearly three-quarters of revenue from operations in Q1 FY27.^[4]
Terra (geosynthetics) revenue was ₹7.5 cr in Q1 FY27, up from almost ₹5 cr a year earlier, a rise of about 48%.^[4]

Products and brands

Zyng Parks is the umbrella brand for the parks. Individual parks run under local brands, such as UP Darshan Park in Lucknow, World Park in Pune and Anokhi Duniya Park in Khurja.^[1]
Each park earns from 7+ revenue streams, including ticketing, F&B, events, retail, adventure, sports and brand partnerships. Zyng Foods and Zyng Sports are dedicated park brands.^[1]
Geotechnical work covers roads, highways, railways, ports, slope protection, rockfall control, flood mitigation, coastal erosion control, landfill liners and mining.^[1]
Chemical Recovery uses a patented technology, called WOOW (Water Out of Waste), to repurpose chemicals from wastewater.^[1]

Operations

Headquartered in Delhi NCR, with locations in Lucknow, Mumbai and Kolkata. The team numbers 152+.^[1]
Wastewater operations moved from Goa to Vadodara in 2025, where a new laboratory and R&D facility is now operating.^[5]
Parks as of Q1 FY27: 9 fully operational, 4 ready to inaugurate, 7 under construction, 3 at the award stage and 11 under tendering.^[4]

Key operating numbers

Order book in Q1 FY27: parks about ₹300 crore, Terra (geotech) about ₹228 crore and Agua (wastewater) about ₹20 crore. In FY26 it was about ₹94 cr for parks and about ₹107 cr for Terra.^[4][6]
Recurring (O&M) park revenue was about ₹4 crore in Q1 FY27, against ₹8 cr for the whole of FY26. FY25 recurring revenue was ₹4 cr.^[4][6]
Parks drew 12+ lakh visitors in FY 2025-26.^[1]
The company executed 36 park activations in the first three months of FY27, against 21 in all of FY26.^[4]
The inquiry funnel across parks, geotech and water stood at ₹1,500+ crore in Q1 FY27.^[4]

Customers and distribution

The parks are developed and operated under a PPP model. The company has served 75+ clients.^[1]
Named wastewater clients include Navin Fluorine, Gujarat Alkaline and Graphene (as of Q2 FY26).^[5]
Park tickets are sold online through partners such as BookMyShow. A dedicated ticketing platform and a Zyng Parks app are being developed.^[1]
The park footprint has grown beyond North India into Maharashtra, Gujarat and Bihar (as of Q2 FY26).^[5]

Expansion plans

Management targets 25-30 operating parks by March 2027 and 100+ parks within three years.^[4]
The company is exploring franchise models: Company Owned-Franchisee Operated (COFO) and Franchisee Owned-Company Operated (FOCO). It targets at least one franchise park in FY27.^[4]
The park vertical has been rebranded as ZyngPark. Management is looking at international expansion through partnerships with local operators.^[4]
A demerger of the parks business from geotech and water is expected within the next couple of years. No firm timeline has been set (as of Q4 FY26).^[6]

Recent developments

9 Oct 2026: the EKK Infrastructure work order was increased by ₹5,37,46,600, from ₹16,91,20,000 to ₹22,28,66,600.^[7]
8 Oct 2026: won a ₹10,11,31,766 order from Afcons Infrastructure. The work includes a four-lane bridge across Dharamtar Creek.^[8]
22 Sep 2026: awarded a ₹15 crore Forest Department contract to develop Indira Gandhi Memorial Botanical Garden, Raebareli.^[9]
Q3 FY26: secured the company's largest park order, worth INR 35 crore, for a 35-acre Krishna-themed park in Mathura.^[10]
Q4 FY26: dropped a planned acquisition of water-body rejuvenation technology after field trials.^[6]

Market Cap

₹601 Cr

High / Low

₹701 / 385

Stock P/E

38.9

Price / Book

4.6

Book Value

₹155

EPS

₹24.8

No. of Shares

1.45 Cr

ROCE

19.8%

ROE

18.2%

OPM

28.9%

Debt / Equity

0.33

Sales

₹156 Cr

Net Profit

₹36 Cr

Promoter holding

52.0%

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