Zichis Agro-Allied Industries Plc (ZAAI) recorded a 179.21% improve in pre-tax profit to N561.32 million for the 9 months ended September 30, 2026, in contrast with N201.04 million within the corresponding interval of 2025.
According to the corporate’s unaudited interim monetary statements filed with the Nigerian Exchange (NGX) on Wednesday, October 28, 2026, revenue elevated by 162.63% to N1.22 billion from N464.20 million.
The outcomes got here amid a major enlargement of the corporate’s stability sheet, together with a N5 billion deposit for shares, elevated long-term investments, and a pointy rise in complete property.
Profit after tax rose by 221.98% to N536.22 million from N166.54 million, whereas fundamental earnings per share elevated to N0.47 from N0.28.
Egg gross sales led revenue progress
Zichis which was listed on NGX Growth Board on January 20, 2026, recorded double- or triple-digit progress throughout all 5 disclosed revenue segments, with egg gross sales remaining its largest supply of revenue.
Revenue from eggs elevated by roughly 124% to N394.72 million from N176.25 million, representing about 32.4% of complete revenue.
- Feed mill revenue rose by roughly 231.5% to N293.93 million from N88.67 million, whereas palm oil produce elevated by 130.1% to N235.53 million.
- Chicken gross sales climbed by roughly 196.6% to N211.34 million, whereas fish revenue grew by 225.5% to N83.60 million.
- Gross profit elevated by 210.70% to N781.07 million, whereas gross margin improved to 64.07% from 54.16%.
- Administrative bills rose by 336.45% to N219.75 million, together with larger salaries, NGX/SEC itemizing bills, and associated skilled charges.
- The enchancment in gross profit outpaced revenue progress, as price of gross sales elevated by 105.84% to N438.04 million.
Nairametrics previously reported that Zichis recorded N328 million in profit and N676 million in revenue for the complete 12 months 2025, which means its nine-month 2026 revenue has already surpassed the earlier full-year determine.
The firm additionally recorded a 27.26% decline in tax expense to N25.10 million, supporting a sooner improve in after-tax profit.
N5 billion share deposit reshapes stability sheet
Zichis’ complete property elevated by 719.36% to N8.71 billion from N1.06 billion as of September 2025, reflecting substantial additions to its asset base.
Property, plant and tools rose to N6.93 billion, supported by N6.14 billion in additions, together with land valued at N5.01 billion.
- Inventory elevated by roughly 403% to N988.42 million, whereas money and financial institution balances rose to N373.88 million from N8.46 million.
- Total liabilities elevated to N7.06 billion from N53.10 million, comprising N2 billion in long-term debt and roughly N5 billion in deposits for shares.
- The share deposits relate to 1,012 acres of land valued at N2.783 billion and one other 740 acres valued at N2.220 billion.
- Issued shares doubled to 1.2 billion from 600 million following a N300 million bonus capitalisation, growing share capital to N600 million.
The firm classifies the N5.003 billion deposit for shares as a non-current legal responsibility slightly than fairness, pending any subsequent conversion into issued shares. This is predicted to additional enhance productiveness and earnings with improved returns to shareholders in future if successfully utilized.
In May, shareholders permitted plans to increase up to N50 billion by fairness and debt, whereas the corporate subsequently reported a N2 billion non-equity capital injection from its core promoters in June.
Zichis shares achieve 754% since itemizing
Zichis closed buying and selling on Wednesday, October 28, 2026, at N17 per share, representing a 2.9% improve from its earlier closing value of N16.52.
The firm ended its January 20, 2026, itemizing day at N1.99 per share and has since gained roughly 754%, rating second on the NGX in year-to-date share-price efficiency.
- With 1.2 billion shares excellent, the N17 closing value positioned the corporate’s market capitalisation at roughly N20.4 billion.
- Its free float stood at 379.11 million shares, or 31.59%, valued at N7.54 billion on the September 30 closing value of N19.90.
- The firm reported that its free-float place met the Nigerian Exchange Growth Board necessities.
- Zichis additionally reported N835.11 million absorbed by stock, N120 million in dividend funds, and N1.13 billion spent on mounted property.
- The firm’s nine-month outcomes spotlight fast revenue progress alongside a significant enlargement in property, liabilities, and share capital.
However, buyers will likely be monitoring whether or not the enlarged asset base generates sustained revenue progress and working money circulation. The potential conversion of deposits for shares into fairness may also stay related to current shareholders due to its doable impact on possession dilution.
