Zeal Global Services Ltd.

Zeal Global Services Ltd.

NNSE:ZEAL
68.00
INR
0.00
(0.00%)
762.65MMarket Cap
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
57.47
45.52
90.98
84.3
160.12
276.35
214.53
- -
Basic EPS, GAAP
0.95
1.41
5.43
7.4
9.97
10.96
8.38
- -
Free Cash Flow per Basic Share
6.55
-4.25
5.1
-14.03
2.12
7.44
-11.1
- -
Dividend per Share
0.6
0.02
- -
- -
1.1
- -
- -
- -
Book Value per Share
3.27
4.53
9.6
16.88
50.01
60.93
69.4
69.4
Tangible Book Value per Share
3.26
4.53
9.59
10.49
29.96
42.4
53.52
53.52
Basic Weighted Avg Shares
13
13
13
13
12
13
13
13
Sales/Revenue/Turnover
765
606
1,211
1,122
1,931
3,678
2,855
- -
Operating Margin (%)
2.8
7.19
7.62
13.07
8.11
4.48
4.55
- -
Depreciation Expense
2
2
3
9
31
52
56
- -
Net Income, GAAP
13
19
72
99
120
146
111
- -
Effective Tax Rate (%)
25.9
25.82
26.35
26.2
26.03
26.29
26.79
- -
Profit Margin (%)
1.65
3.11
5.97
8.78
6.23
3.96
3.9
- -
Working Capital
-28
19
83
-33
217
366
206
206
LT Debt
- -
4
3
2
1
5
4
4
Total Equity
44
60
128
225
666
811
924
924
Return on Invested Capital (%)
- -
26.91
48.58
39
19.61
14.19
9.13
- -
Return on Capital (%)
- -
27.86
64.89
38.98
22.98
17.74
12.2
- -
Return on Common Equity (%)
- -
36.26
76.84
55.92
27.01
19.75
12.85
- -

Capital Structure

INR

•

in mil. unless spec.
Mar'24
Sep'26
Mar'26
ST Debt
97
247
197
LT Borrowings
1
5
4
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
13
13
13
Market Capitalization
2,627
1,491
763

Working Capital

INR

•

in mil. unless spec.
Mar'24
Sep'26
Mar'26
Total Current Assets
698
532
705
Cash, Cash Equivalents & STI
346
43
164
Accounts Receivable, Net
165
280
288
Inventories
- -
- -
- -
Total Current Liabilities
481
621
499
Payables & Accruals
- -
- -
- -
ST Debt
97
247
197
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
83.95%
13.91%
Free Cash Flow
- -
-134.16%
-249.24%
Net Income, GAAP
- -
67.96%
-23.55%
Sales/Revenue/Turnover
- -
46.54%
-22.37%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1,931
2025
- -
- -
3,678
2026
- -
- -
2,855

Semi-annual Earnings Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
9.97
2025
- -
- -
10.96
2026
- -
- -
8.38

Semi-annual Dividends Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1.1
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

CEO
Vishal Sharma
Full Time Employees
77
Sector
Transportation
Industry
Airlines
Address
A-261-262 New Delhi DE India 110037
IPO Date
Aug 9, 2023
Business
Zeal Global Services Ltd. (ZEAL.NS) provides logistics solutions in the air cargo industry, operating primarily as a General Sales and Service Agent (GSSA) and sales partner for airlines. The company offers cargo carrier services and passenger carrier services, along with comprehensive support including sales, marketing, operations, and administration; it serves diverse industries such as fashion, pharmaceuticals, automotive, and industrials. Zeal Global Services distributes its services through offline and online channels to over 1,100 clients across 46+ segments, leveraging a network spanning 164 countries and partnerships with more than 14 airlines. Incorporated in 2014 and headquartered at A-261/262, Third Floor, Street No. 6, Mahipalpur Extension, New Delhi, 110037, India, the company maintains operations in key locations including Delhi and Mumbai, with international reach in countries such as India, China, the Middle East, Sri Lanka, Singapore, and Malaysia. It operates through its subsidiary ANSP Global Services Private Limited and has made a strategic investment acquiring a 33% stake in the joint venture Teleport Commerce IN Private Limited to enhance operations and expand business capabilities. In recent developments, Zeal Global Services expanded into the United Arab Emirates by opening a new office in Dubai and appointing Tej Gill as Business Development Director to drive international growth and global marketing strategy in October 2025. The company listed on the National Stock Exchange of India (NSE Emerge) in August 2023 following its SME IPO and shifted to a flexible air transport model in July 2025 amid geopolitical risks to maintain profitability. These moves underscore its focus on sustainable global expansion while replicating operational excellence from its Indian core.