Zed Black

Sector: Manufacturing (Incense Stick (Agarbatti) Unit Business Plan &)  |  HQ: India  |  Founded: Not separately disclosed  |  Employees: Not separately disclosed

Listed as: Privately held  | 

Company overview

Zed Black operates in the manufacturing segment of the Indian market, with a presence noted in the incense stick (agarbatti) unit business plan & category. The company is among the recognised participants in this segment alongside other Indian and multinational players. Operations follow the standard Companies Act 2013 disclosure framework where Zed Black is incorporated as a private or public limited company under Indian law, with statutory audit, GST registration under the CGST Act 2017, and applicable sectoral compliance under FSSAI, BIS, MoEF, or sectoral regulators as relevant to the activity. The competitive set in incense stick (agarbatti) unit business plan & includes pan-India brands, regional players, and multinational subsidiaries operating in India through wholly-owned or joint-venture structures.

Recent developments

October 2025 – April 2026

Zed Black has intensified its brand-building efforts through a high-profile partnership with cricketer MS Dhoni, launching the 'Sab Shubh Hoga' campaign to drive expansion into the camphor category with a pan-India retail rollout [3][4][7][8]. The company has set ambitious growth targets, aiming to capture the top position in India's incense segment with revenues of ₹1,000 crore by FY27, while simultaneously targeting a 10–15% global market share in the incense category [2][6].

In marketing strategy, Zed Black stands out by allocating approximately 80% of its media budget to television despite the digital era, with the Dhoni campaign reinforcing this TV-forward approach [1]. The company has also maintained seasonal relevance through product launches like its Diwali festive fragrance essentials celebrating devotion, culture, and aroma [5], while engaging in community initiatives such as supporting mass wedding programs under the 'Sab Shubh Hoga' umbrella [10].

Sources (9)

1. In a digital era, why Zed Black puts 80% of its marketing spend on TV - afaqs! · afaqs! · Tue, 09 Dec 2025
2. Zed Black eyes top spot in India’s incense segment; looks at ₹1,000 cr by FY27 - India Retailing · India Retailing · Wed, 04 Feb 2026
3. Zed Black Bets Big on Camphor Category, Strengthens Retail Presence with Pan-India Rollout Backed by MS Dhoni-Led ‘Sab Shubh Hoga’ Campaign - TheWire.in · TheWire.in · Mon, 23 Mar 2026
4. MS Dhoni fronts Zed Black’s push into India’s ₹1,000cr devotional market - ET BrandEquity · ET BrandEquity · Thu, 19 Mar 2026
5. Zed Black Unveils Diwali Festive Fragrance Essentials Celebrating Devotion, Culture and Aroma - Business Standard · Business Standard · Fri, 17 Oct 2025
6. Zed Black Agarbatti Targets 10–15 Pc Global Market Share in Incense Category - Indian Retailer · Indian Retailer · Mon, 08 Sep 2025
7. Zed Black Unveils ‘Sab Shubh Hoga’ TVC Featuring MS Dhoni - Everything Experiential · Everything Experiential · Sat, 21 Mar 2026
8. Zed Black launches ‘Sab Shubh Hoga’ campaign featuring MS Dhoni to strengthen camphor portfolio - MediaNews4U · MediaNews4U · Thu, 19 Mar 2026
9. Zed Black Supports Mass Wedding Initiative, Spreads ‘Sab Shubh Hoga’ at Shagun Vivah Utsav 2026 - The Hans India · The Hans India · Fri, 03 Apr 2026

Financial performance and recent trajectory

Disclosed revenue (FY25): Not separately disclosed in segment-wise FY 2024-25 reporting.

Competitive position

Zed Black occupies a position in the incense stick (agarbatti) unit business plan & category alongside other listed and unlisted Indian players. Competitive intensity in the segment is shaped by raw material cost cycles, distribution depth, branded versus unbranded share, and the regulatory framework governing manufacturing, FSSAI labelling (for food), BIS standards (for engineering goods), or sectoral norms. The principal competitive moats in this category are typically scale, distribution reach, brand trust, and integrated procurement. KAMRIT's project report on incense stick (agarbatti) unit business plan & benchmarks new entrant economics against the listed peer cost structure including capex per tonne (or per unit of output), working capital intensity, gross margin band, and the EBITDA delta between organised and unorganised participants.

Key risks

Input cost volatility in the incense stick (agarbatti) unit business plan & value chain Competitive intensity from larger Indian groups and multinational subsidiaries Regulatory tightening under FSSAI, BIS, environmental norms, or labour codes

Outlook

Zed Black is a participant in the Indian incense stick (agarbatti) unit business plan & category, which forms part of the broader Manufacturing space. The Indian incense stick (agarbatti) unit business plan & market continues to evolve with rising organised share, premiumisation, distribution expansion, and a regulatory architecture covering the Companies Act 2013, the Income Tax Act 1961, the CGST Act 2017, the Legal Metrology Act 2009, and sectoral statutes including the Food Safety and Standards Act 2006 (for food and beverage subsegments), the Drugs and Cosmetics Act 1940 (for pharmaceutical or healthcare adjacencies), the Environment Protection Act 1986 (for emissions and effluents), and labour codes consolidated under the four 2020 labour codes. In KAMRIT's project report framework for this category, the competitive set typically includes pan-India branded leaders, multinational subsidiaries, mid-sized regional players, and a long tail of MSME participants. The structural attractiveness of the category for new entrants is a function of (a) market growth rate, (b) the share that remains with unorganised or fragmented operators, (c) the cost of regulatory compliance, and (d) the capex intensity of plant and machinery. The KAMRIT bankable DPR for this category structures a new entrant's economics against this competitive landscape. For Zed Black specifically, public-domain disclosures provide a baseline view of operations, but segment-wise revenue, EBITDA, capacity utilisation, and forward capex plans are not separately broken out in many cases. Where the company is part of a listed group, the SEBI LODR and the Companies Act 2013 governance framework apply, with statutory audit conducted under SA 700 and CARO 2020 reporting. Where the company is unlisted, the Companies Act 2013 framework continues to govern with reduced public disclosure. The risk and opportunity outlook for Zed Black mirrors the broader incense stick (agarbatti) unit business plan & category dynamics. Demand-side drivers include rising household consumption, urbanisation, organised retail expansion, and policy support including PLI schemes (where applicable to the segment). Supply-side risks include input cost volatility, regulatory tightening, environmental compliance escalation, and competitive intensity from larger groups or imports. Management quality, balance sheet strength, distribution depth, and the capex execution track record are the differentiators within the peer set. KAMRIT's research desk maintains a baseline reference for Zed Black as a peer benchmark within the incense stick (agarbatti) unit business plan & category. For investors, lenders, or new entrant promoters seeking a fuller assessment of Zed Black, KAMRIT's deep-dive company profile engagement covers financial trajectory, capacity and capex, distribution and customer concentration, regulatory exposure, and the competitive position with named peers.

KAMRIT point of view

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Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.