---
title: "ZR2 Bioenergy Ltd (506640) — Share Price, Financials & Analysis"
symbol: "506640"
company: "ZR2 Bioenergy Ltd"
canonical: "https://tapetide.com/stocks/506640"
isin: "INE218N01021"
nse_symbol: "GUJCHEMDISTILLERSINDIALTD"
bse_code: "506640"
sector: "Chemicals"
industry: "Commodity Chemicals"
market_cap_cr: 204.51
generated_at: "2026-09-13T18:41:00.300Z"
---

# ZR2 Bioenergy Ltd (506640)

Canonical page: https://tapetide.com/stocks/506640

## Company

- **NSE Symbol:** GUJCHEMDISTILLERSINDIALTD
- **BSE Code:** 506640
- **ISIN:** INE218N01021
- **Sector:** Chemicals
- **Industry:** Commodity Chemicals
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Face Value:** ₹1
- **F&O Eligible:** No
- **Website:** gujchemdistillers.com

## About

Incorporated in 1939, ZR2 Bioenergy Limited is in the business of Ethanol and bioenergy products.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:38:50.115736Z.

- **Market Cap:** ₹204.51 Cr
- **Classification:** Microcap
- **P/E (reported):** 210.9
- **EPS (TTM):** ₹1.67
- **EPS (reported):** ₹0.79
- **Book Value:** ₹88.7
- **Price to Book:** 1.38
- **Dividend Yield:** 0.08%
- **ROE:** 0.06%
- **ROCE:** 0.14%
- **Debt to Equity:** 0
- **Revenue (yearly):** ₹0 Cr
- **Net Income:** ₹0.97 Cr
- **EBITDA:** ₹-0.68 Cr
- **52-Week High:** ₹419.2
- **52-Week Low:** ₹90
- **RSI (14):** 58.89

## Tapetide Score

- **Score:** 38 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 10.2 (of 4473 scored stocks)
- **Confidence:** 93%
- **Data coverage:** 86%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 69.57 | 9% |
| growth | 1.1 | 9% |
| momentum | 20.86 | 12% |
| ownership | 50 | 24% |
| quality | 44.17 | 22% |
| valuation | 29.05 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company is almost debt free.

### Weaknesses

- Earnings include an other income of Rs.1.83 Cr.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -80.52% | -71.05% | -41.17% |
| ebitda margin growth | 0% | -100% | — | — |
| net income growth | 0% | 870% | — | — |
| revenue growth | 0% | -100% | — | — |
| roce | 15% | — | — | — |
| roe | 10% | — | — | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2021 | Dec 2021 | Jun 2022 | Sep 2022 | Dec 2022 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Expenses | 0.06 | 0.05 | 0.07 | 0.06 | 0.09 | 0.28 | 0.2 | 0.13 | 0.26 | 0.07 | 0.21 | 0.17 |
| Operating Profit | -0.06 | -0.05 | -0.07 | -0.06 | -0.09 | -0.28 | -0.2 | -0.13 | -0.26 | -0.07 | -0.21 | -0.17 |
| Other Income | 0.07 | 0.02 | 0.02 | 0.05 | 0.06 | 0.03 | 0.45 | 0.46 | 0.55 | 0.42 | 0.44 | 0.42 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0.02 | 0.02 | 0.02 | 0.01 | 0.15 | 0.03 | 0.03 |
| Profit before tax | 0.01 | -0.03 | -0.05 | -0.01 | -0.03 | -0.27 | 0.23 | 0.31 | 0.28 | 0.2 | 0.2 | 0.21 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 47.83 | 0 | 0 | -15 | 0 | 0 |
| Net Profit | 0 | -0.03 | -0.05 | -0.01 | -0.03 | -0.26 | 0.11 | 0.31 | 0.27 | 0.23 | 0.2 | 0.22 |
| EPS in Rs | 0 | -0.19 | -0.31 | -0.06 | -0.19 | -0.73 | 0.31 | 0.87 | 0.76 | 0.64 | 0.13 | 0.14 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- |
| Sales | 1.16 | 1.49 | 0 | 0 |
| Expenses | 1.11 | 1.87 | 0.68 | 0.71 |
| Operating Profit | 0.05 | -0.38 | -0.68 | -0.71 |
| OPM % | 4.31 | -25.5 | — | — |
| Other Income | 0.27 | 0.64 | 1.87 | 1.83 |
| Interest | 0 | 0.01 | 0 | 0.01 |
| Depreciation | 0 | 0.04 | 0.21 | 0.22 |
| Profit before tax | 0.32 | 0.21 | 0.98 | 0.89 |
| Tax % | -21.88 | 52.38 | -3.06 | — |
| Net Profit | 0.39 | 0.09 | 1 | 0.92 |
| EPS in Rs | 2.44 | 0.25 | 0.63 | 1.67 |
| Dividend Payout % | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Equity Capital | — | 0.36 | 0.36 |
| Reserves | — | 138.99 | 139.61 |
| Borrowings | — | 0 | 0 |
| Other Liabilities | — | 0.15 | 1.34 |
| Total Liabilities | — | 139.5 | 141.31 |
| Fixed Assets | — | 0.5 | 0.31 |
| CWIP | — | 118.96 | 120.17 |
| Investments | — | 0 | 0 |
| Other Assets | — | 20.04 | 20.83 |
| Total Assets | — | 139.5 | 141.31 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Cash from Operating Activity | 0.91 | 31.05 | -0.69 |
| Cash from Investing Activity | 0.19 | -116.66 | 0.48 |
| Cash from Financing Activity | 0 | 100.39 | -0.04 |
| Net Cash Flow | 1.1 | 14.78 | -0.25 |
| Free Cash Flow | 0.91 | -88.44 | -1.92 |
| CFO/OP | 1780 | -8171 | 97 |

### Ratios

| Item | Mar 2022 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Debtor Days | — | 4.9 | — |
| Inventory Days | — | 0 | 0 |
| Cash Conversion Cycle | — | 4.9 | — |
| Working Capital Days | — | 161.68 | — |
| ROCE % | — | — | 0.7 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 61.43% | 61.43% | 60.96% | 60.96% | 60.96% | 60.96% | 60.96% | 60.96% | 60.96% | 61% | 61% | 61% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0.06% | 0.06% | 0.05% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 38% | 37.69% | 37.69% | 37.91% | 37.77% | 37.65% | 37.5% | 37.43% | 37.35% | 37.1% | 37.1% | 37.29% |
| Others | 0.5% | 0.81% | 1.29% | 1.06% | 1.2% | 1.32% | 1.47% | 1.55% | 1.62% | 1.83% | 1.84% | 1.65% |
| No. of Shareholders | 5364 | 5295 | 5301 | 5230 | 5277 | 5351 | 5399 | 5385 | 5319 | 5306 | 5326 | 5374 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 8 / 4 / 7

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 116.08 | Buy |
| EMA (10) | 118.09 | Buy |
| SMA (20) | 116.91 | Buy |
| EMA (20) | 116.19 | Buy |
| SMA (50) | 114.56 | Buy |
| EMA (50) | 117.86 | Buy |
| SMA (100) | 128.86 | Sell |
| EMA (100) | 130.34 | Sell |
| SMA (200) | 163.52 | Sell |
| EMA (200) | 169.19 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 62.15 | Neutral |
| MACD (12,26,9) | 1.6 | Buy |
| Stochastic (14,3,3) | 81.1 | Sell |
| ADX (14) | 15.08 | Neutral |
| Williams %R (14) | -10.51 | Sell |
| ATR (14) | 6.09 | High Volatility |
| ROC (12) | 12.01 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 69.34 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-08-14 | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f9428cd9-35f4-4ec4-9316-ae6063bda483.pdf) |
| 2026-08-14 | [Board Meeting Outcome for BOARD MEETING OUTCOME FOR APPROVING AND CONSIDERATION OF THE UNAUDITED FINANCIAL YEAR ENDED 30TH JUNE 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=156dc8e2-f525-43e1-bb13-0ad6777a5411.pdf) |
| 2026-07-15 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=57bf5f65-68ae-4035-ae0f-7be855e26c6d.pdf) |
| 2026-06-19 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ab25234a-dd4b-4e29-9364-a72fb5e14b71.pdf) |
| 2026-05-29 | [Board Meeting Outcome for Audited Financial Results (Standalone And Consolidated) Of The Company For The Quarter And Year Ended March 31 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bb4d2fd8-a27c-4018-83b1-34784912eb54.pdf) |
| 2026-05-28 | [Clarification Sought From The Company On Significant Movement In Price](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4f0c9022-31f9-4362-8556-7d362ec9fb90.pdf) |
| 2026-05-28 | [Clarification Sought From The Company On Significant Movement In Price](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1750d87c-d7c1-41e7-90cd-fb5885365c13.pdf) |
| 2026-05-26 | [Board Meeting Intimation for Intimation Of 01/2026-27 Board Meeting For Consideration Of Audited Financial Results For The Quarter Ended March 31 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b901ee2b-2e0b-46f4-b58e-4d449e1c9cf0.pdf) |
| 2026-05-15 | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9dcd90ae-308e-4be8-bee1-a5a9e362da79.pdf) |
| 2026-04-19 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5e1323ba-60cb-4a10-98a3-a1df2ffb01e4.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-14 | [Unaudited Financial Results For The Quarter Ended 30Th June 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d532f68b-1fb2-4128-9bf5-109674866eb5.pdf) |
| 2026-05-29 | [Audited Financial Results For The Quarter Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a071b7ce-cbb3-44e7-b86e-319cf6dcb20e.pdf) |
| 2026-02-17 | [Results- Unaudited Financial Results For The Third Quarter Ended 31St December 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4674356b-4ecc-4c58-be3d-34d5046f862a.pdf) |
| 2025-11-14 | [Unaudited (Standalone And Consolidated) Financial Result Of The Company For The Quarter And Half Year Ended September 30 2025 Pursuant To Regulation 33 Of SEBI (LODR) Regulation 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9432fefb-df6b-40f2-bef2-d5ec43615470.pdf) |
| 2025-08-13 | [Unaudited (Standalone And Consolidated) Financials Of The Company For The Quarter Ended June 30 2025 Pursuant To Regulation 33 Of SEBI (LODR) Regulation 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=926bf37f-1717-4cfe-abc9-f452ab51d0e6.pdf) |
| 2025-05-30 | [Audited Financial Result For The Quarter And Year Ended March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7f9d73ec-0d5f-47ba-a1ad-3501eff6c919.pdf) |
| 2025-02-13 | [Outcome Of Board Meeting Alongwith Unaudited Financial Result For The Quarter Ended December 31 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1f5d2101-5bee-4a34-b702-0ebd08f08ba7.pdf) |
| 2025-02-13 | [Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f59a6349-1265-423f-b278-fffa18e23c0f.pdf) |
| 2024-10-06 | [Un-Audited Financial Results For The Quarter And Half Year Ended On September 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7c36232e-4f8a-4729-b24c-bfb16dce74db.pdf) |
| 2024-08-14 | [Un-Audited Financial Results For The Quarter Ended On June 30, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e9c8bb13-726b-409f-b384-e9bad1ddcb78.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 7 Jan - Certificate under Reg 74(5): all shares dematerialised; no rematerialisation requests for quarter ended 31 Dec 2025. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 Jan - Certificate under Reg 74(5): all shares dematerialised; no rematerialisation requests for quarter ended 31 Dec 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1d588da7-10ee-4843-a10d-064c54573ea2.pdf) |
| 29 Dec 2025 - Company Secretary Shital Gurav resigned effective Dec 29, 2025, citing unaddressed compliance irregularities. | [Announcement under Regulation 30 (LODR)-Change in Management 29 Dec 2025 - Company Secretary Shital Gurav resigned effective Dec 29, 2025, citing unaddressed compliance irregularities.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/028db3f4-4106-495c-ae8d-b3a8949df09b.pdf) |
| 19 Feb - ZR2 Bioenergy forfeits Rs.42,12,32,500 on 2,59,22,000 warrants after non-conversion by Feb 13, 2026. | [Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Non-Exercise Of Option To Convert Warrants 19 Feb - ZR2 Bioenergy forfeits Rs.42,12,32,500 on 2,59,22,000 warrants after non-conversion by Feb 13, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/95e09990-2590-4be2-89bb-11ca60b5c721.pdf) |
| 19 Feb - Allotment of 12,350,000 shares to ZR2 Group at Rs65 each (Rs80.27 crore); post-holding 91.26%. | [Announcement under Regulation 30 (LODR)-Allotment 19 Feb - Allotment of 12,350,000 shares to ZR2 Group at Rs65 each (Rs80.27 crore); post-holding 91.26%.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8e11baba-2eb0-4d4d-b53f-ff7b1879c9fd.pdf) |
| 17 Feb - Crisil flags Rs 18.50 crore deposit with non-deposit NBFC Sukhmehar; maturity extended to June 30, 2026; disclosure lapse. | [Announcement under Regulation 30 (LODR)-Monitoring Agency Report 17 Feb - Crisil flags Rs 18.50 crore deposit with non-deposit NBFC Sukhmehar; maturity extended to June 30, 2026; disclosure lapse.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/274b2f76-d5b3-4c47-a593-64ddcdb58dfa.pdf) |
| 17 Feb - Board approved unaudited Q3 Dec 31, 2025 results; acquirer bought 61% (21,77,110 shares) on Dec 31, 2024. | [Results- Unaudited Financial Results For The Third Quarter Ended 31St December, 2025 17 Feb - Board approved unaudited Q3 Dec 31, 2025 results; acquirer bought 61% (21,77,110 shares) on Dec 31, 2024.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4674356b-4ecc-4c58-be3d-34d5046f862a.pdf) |
| 17 Feb - Board approved Q3 (Dec 31, 2025) unaudited results; profit ~23.02 lakh; ZR2 Group acquired 61% on Dec 31, 2024. | [Board Meeting Outcome for Outcome Of Board Meeting 17 Feb - Board approved Q3 (Dec 31, 2025) unaudited results; profit ~23.02 lakh; ZR2 Group acquired 61% on Dec 31, 2024.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/77ccc480-b16b-4077-bc02-12b0b729dc6f.pdf) |
| 16 Nov 2025 - Submission of Newspaper Advertisement issued for the publication of Unaudited (Standalone and Consolidated) Financial Results for the quarter ended September 30, 2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Nov 2025 - Submission of Newspaper Advertisement issued for the publication of Unaudited (Standalone and Consolidated) Financial Results for the quarter ended September 30, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fed3f9b0-57cd-48c6-b474-68f32c985d65.pdf) |
| 16 Nov 2025 - Submission of Newspaper Advertisement issued for the publication of Unaudited (Standalone and Consolidated) Financial Results for the quarter ended September 30, 2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Nov 2025 - Submission of Newspaper Advertisement issued for the publication of Unaudited (Standalone and Consolidated) Financial Results for the quarter ended September 30, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c1eed361-6810-4757-8c97-d8a657cdf521.pdf) |
| 14 Jan - ZR2 Bioenergy filed Reg.74(5) certificate confirming dematerialisation processing for quarter ended December 31, 2025. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 14 Jan - ZR2 Bioenergy filed Reg.74(5) certificate confirming dematerialisation processing for quarter ended December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5d5b9f1e-901e-4be5-a4b1-084a1132ae61.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7ca3e27e-3c23-43b3-80c3-3763ff41b38b.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7f2547b6-25ed-4ae6-b8af-658a5bcfac52.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/72584341-ce24-40b9-8320-bc5237386904.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/415b3aef-5c75-4c58-9ac9-7c54b7af7763.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1337d7f3-992e-43f5-b3b9-7b611d5b55da.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/506640/74632506640.pdf) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/506640/71099506640.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/506640/65138506640.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/506640/5066400319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/506640/5066400318.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:41:00.300Z.