Z-Tech (India) Ltd Q2 2026 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Priyanshu Jain - GrowthX Infinity - Analyst : Hi, so congratulations. On good set of results. I have a few questions. So first is on the order book side. As you mentioned, like INR80 crores is for the creative box. So, like going forward, like in the, I think, in the last con call you mentioned that 6 months is the timeline in which we, like deliver the projects Am I Right?

Question: Priyanshu Jain - GrowthX Infinity - Analyst : Sir, so, like, can you also tell us the reason, as, I, you also mentioned like 18 months is the time frame. Which we take, so like how we are able to like to live in such a less time as well.

Question: Priyanshu Jain - GrowthX Infinity - Analyst : Like, I think our timeline for execution of orders is around 18 months.

Question: Priyanshu Jain - GrowthX Infinity - Analyst : Okay, and, like, for the rest of the year, like, out of [INR200] crores, gross order book, so like what will be the further, like pipeline for the orders?

Question: Priyanshu Jain - GrowthX Infinity - Analyst : That's great, sir. Like. So, the fundraise. Which we are going to do, is, for this expansion only. I think so. Which fundraise. So INR100 crores as like mentioned no like.

Question: Priyanshu Jain - GrowthX Infinity - Analyst : Oh, okay. Sorry, my, like my fault. Actually, like, this last question on the product mix. So, like, going forward, what kind of a product mix we are expecting.

Question: Priyanshu Jain - GrowthX Infinity - Analyst : Okay, 30% to 35% from the water business, right?

Question: Priyanshu Jain - GrowthX Infinity - Analyst : Okay, that's all from my side. All that is for the future. Thank you, sir.

Question: Darshil Jhaveri - Crown Capital - Analyst : Hello. Good evening, team. Thank you so much for taking my question. Hopefully, I'm audible. Hi sir. Yes, hi sir. So, sir, just a bit, some of my questions have been answered. I just wanted some clarification. So, when we say that, our order book is around INR113 crores for the park, so that we'll completely. Execute by the end of the financial year, right? So. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Darshil Jhaveri - Crown Capital - Analyst : Oh, okay, fair enough, sir. And this is just the EPC part of it, right? So, from the ticketing, what are we expecting like, so [INR80] crores from, execution and from ticketing, what kind of, H2, I'm assuming, more festive, and, we are planning to open up parks also. So how do we see that once the Noida boost comes, like, so how do we forecast this, sir?

Question: Darshil Jhaveri - Crown Capital - Analyst : Oh, okay, fair enough, sir. And so just wanted to, get a sense for FY27. So, like what amount of tasks, where we are having, share of ticketing will be, operational for the full year in FY27. And with that, like, what kind of growth are we looking there because I understand FY26, we are, maybe more in the development phase where, our parks are opening, but FY27, we'll have a decent chunk of parks open for a longer period of time with FMG also.

Question: Darshil Jhaveri - Crown Capital - Analyst : Fair enough, sir. And just last question from my end, sir, what will be a sustainable margin because Q1 Q we have seen some decline with even if the revenues have increased like from Q1 to Q2, we've seen a decline in margin. So what will be our sustainable margin that you can see.

Question: Darshil Jhaveri - Crown Capital - Analyst : Okay, so we said 20% for PAT, right?

Question: Darshil Jhaveri - Crown Capital - Analyst : Okay, sir. I have more questions, but I'll get back in the line, so thank you so much.

Question: Ravi Naredi - Naredi Investment - Analyst : Thank you. We give the opportunity, sir, reduction of promoted equity from 60.75% to 5315%. Reduction of equity. Yeah, 60.75% to 53.18% in 9 months. What is the reason?

Question: Ravi Naredi - Naredi Investment - Analyst : But promoter has not sold any shares. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Ravi Naredi - Naredi Investment - Analyst : And sir, why we do a small project even worth of less than INR1 crore? How we get benefit return from them? You have to [INR117] crores road project in South India. South India is far away from you. How you manage all this?

Question: Manhar Rao - Orbit Capital - Analyst : Yeah, hi, sir. Good evening. We had a target initially of 2025 parks, in this year 6 we have completed UPS and harmony [Kurjanaida] happiness, [Shiwale]. 9 are in pipeline World Bollywood such as you [canm] [Vishwabiarro] World Park and the [andutti] Ghaziaba and Pulari Firozabad. So, 9 Plus 6 is 15, sir, and as mentioned by you in the call, it takes about 6 months to include the particular park. So could you just let me know which are these 5 parts we are expecting Quantum of 5, because if we don't win them in the next 15, 20 days, I think we'll be short of 2025 parks execution which we had a plan initially at the beginning of the year. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Manhar Rao - Orbit Capital - Analyst : And so my second question is, could you please tell me ticketing and EPC split for this quarter? And also, do you think, sir, are we on track for completing 20 parks. And the revenue and whatever bottom line targets we have given for this financial year?

Question: Manhar Rao - Orbit Capital - Analyst : EPC and ticketing, sir, for this quarter out of the INR31 crores, what is the split between EPC and ticketing.

Question: Manhar Rao - Orbit Capital - Analyst : And you just said that we are expecting similar execution next quarter INR28 crores. I think that we would be short this year for our target. Is that how it is looking, sir, because there's not like what ETC we are targeting in quarter 3 and INR28 crores was mentioned. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Manhar Rao - Orbit Capital - Analyst : Thank you. Just one last question from my side. Could you just tell me, sir, what is the status on World Park and the Park because we had some problem and, the second part is you don't have any problem, the problem in the previous quarters. There was some, land allocation, problems, sir.

Question: Manhar Rao - Orbit Capital - Analyst : Just the one last thing is we raised significant amount of money recently, I think a couple of months back, and so what is the status around some kind of, deployment of, these large amounts of funds.

Question: Ashish Soni - Family Office - Analyst : So, this park in Pimpri. I think that is ready and still it's not in operated. What is happening there,

Question: Ashish Soni - Family Office - Analyst : The Pimpri In park, World Park.

Question: Ashish Soni - Family Office - Analyst : Okay, thanks. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Akshat Mehta - Seven Rivers Holding - Analyst : Hello, sir, am I. Audible? So, just a Couple of questions. One is I wanted to understand, what is the main reason that we've seen an elevated, working capital cycling In half year.

Question: Akshat Mehta - Seven Rivers Holding - Analyst : Okay, and so what can be expected by the end of the year? Will it come down? Will it remain the same? What is the analysis?

Question: Keshav - BHH Securities Private Limited - Analyst : Hi, sir, so thank you so much for an excellent set of numbers. You're always delivering on whatever you said. I just keep my questions, so I just want to, comment on one, thing, 11 observation I've made. So, this last six months, basically we are in the business of parts and parts may. When there's rains, people generally don't go out in the venture out in the parks, and we have had an extended spell of rains in the in North India particularly. So, even in the face of adverse headwinds, we have delivered an excellent set of numbers which is very creditable. Thank you so much for it. I would want a comment on this. How do we see the past business panning out? And I have two questions. The first one is about current assets and trade receivables. What are? Why are other current assets so high? What do they comprise of? And the second question is short-term loans and advances are also high. Whom have they been given to?

Question: Keshav - BHH Securities Private Limited - Analyst : Okay. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Prem Soni - CCV Investment Manager - Analyst : Oh Yes, please. Yeah. Yes, the question is on the acquisition. So, what is the value of the acquisition which is expected to compete in what is. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Prem Soni - CCV Investment Manager - Analyst : What is the value of the acquisition be acquisition real value.

Question: Prem Soni - CCV Investment Manager - Analyst : And just how the numbers look I like it in terms of the vision gets completed in advertising how it will reflect.

Question: Prem Soni - CCV Investment Manager - Analyst : How the numbers will be reflected in number 27 if the deal gets completed.

Question: Prem Soni - CCV Investment Manager - Analyst : The acquisition going to get complete in November month. So how the numbers will look like in April 27? Like how it will help out in about 27 numbers. In terms of revenue in terms of tax margins.