What was Z-Tech's revenue in Q3 FY26?

Z-Tech reported revenue of ₹42 Cr in Q3 FY26, a +74% change year-over-year.

Did Z-Tech management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

Z-Tech Q3 FY26 Research Workspace: Revenue ₹42 Cr (+74%)

Q: What guidance did Z-Tech management give?

FY26 Revenue Guidance of ₹150 crore and PAT of ₹40 crore: Management reiterated full-year guidance despite 9-month revenue of ~₹85 crore and PAT of ~₹17 crore, implying a very strong Q4.

Revenue ₹42 Cr +74%

EBITDA ₹12 Cr +58%

PAT ₹8 Cr +51%

EBITDA Margin 27.6% -280bps

Duration 64 min

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2-Minute Summary

✦ AI-Generated from Full Transcript

Z-Tech delivered a strong Q3 with revenue surging 74% YoY to ₹42 crore, driven by a 4x jump in the geotechnical (Terra) segment from new flood mitigation and mining stabilization projects. EBITDA grew 58% to ₹11.6 crore, though margins compressed ~280bps due to mix shift toward lower-margin geotech work. PAT rose 51% to ₹7.62 crore. Management reiterated FY26 guidance of ₹150 crore revenue and ₹40 crore PAT, implying a massive Q4 ramp. The parks vertical is transitioning from EPC to an asset-light O&M model, targeting 15+ operational parks by April 2026 (from 4 at start of year) and 100 parks in 3 years. Recurring revenue from ticketing/F&B is expected to reach 25% of parks revenue next year. Key risk: park inauguration delays due to government VIP schedules could push operational revenue recognition into FY27.

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Research workspace

Focused Modules

!Risks 4 risks

Risk Intelligence

Park Inauguration Delays Due to Government VIP Schedules

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Quarter Snapshot

Operational Parks (end of FY26 target) 15+

+11 parks vs start of year

From 4 operational parks at beginning of FY26 to 15+ by April 2026.

Geotech Revenue Growth (Q3 YoY) 4x

+300% YoY

Driven by new flood mitigation and mining stabilization projects.

Noida Park Monthly Visitors 50,000-60,000

N/A (new park)

Noida Jungle Trail park generating ₹80 lakh-₹1 crore monthly revenue.

Order Book (Parks Vertical, end FY26E) ₹125-150 crore

+64% vs current ₹76 crore

Includes ₹35 crore orders received but not yet announced; largest-ever park order in Mathura.

Fast read

Guidance and risk preview

Top guidance FY26 Revenue Guidance of ₹150 crore and PAT of ₹40 crore

Management reiterated full-year guidance despite 9-month revenue of ~₹85 crore and PAT of ~₹17 crore, implying a very strong Q4.

Top risk Park Inauguration Delays Due to Government VIP Schedules

Several parks are ready but awaiting formal inauguration by politicians, causing revenue recognition delays.