Shares of Zichis Agro Allied Industries Plc are experiencing strong market activity, with bids totalling 280 million units lined up at N2.88, following a 44.75% gain during the stock’s first week.
The surge comes after the listing of 600 million units on the Growth Board of the Nigerian Exchange (NGX), marking the company’s formal entry into the equities market on 20 January 2026.
Since listing, the stock has surpassed its initial price of N1.81 per share, breaking N2.00 the following day and reaching N2.62 on 23 January 2026.
Analysts note that the price could potentially surpass the bid stack around N2.88 if sellers accept more offers, representing a possible upside of more than 60% post-listing.
What the data is saying
Market order data shows that bid quantities at the N2.88 share price range from 25,129,631 to 1,000,000 units.
- As of early trading on 26 January 2026, monthly volume surpassed 188 million shares, with high bids reflecting strong investor interest, set to rise further as orders are executed.
- The upward movement of the stock, from its listing price of N1.81 to N2.88 in early trading, further highlights the strength of buying interest.
Zichis Agro Allied recorded its highest daily surge of 9.63% on 22 January 2026 and achieved a weekly gain of 44.75% for the week ended 23 January 2026, ranking fourth on the weekly advancers table.
These trends suggest limited downside and steady demand for the company’s shares, at least in the short term, likely supported by Zichis Agro Allied’s nine-month financials.
For the nine months ended 30 September 2025, the company reported revenue of N464.1 million, a 122% increase from N209.2 million in the same period of 2024.
Financial insight
A cursory look at Zichis Agro Allied’s financials shows that egg sales contributed the largest share of revenue at N176.2 million, followed by palm oil products at N102.3 million.
- Feed mill product sales stood at N88.6 million, while chicken and fish sales amounted to N71.2 million and N25.6 million, respectively.
Despite a 67.35% increase in the cost of sales to N212.8 million, the company recorded a gross profit of N251.3 million.
- Administrative expenses rose 30% to N50.3 million, driven mainly by depreciation and staff-related costs.
- Notwithstanding rising costs, profit before tax surged to N201.04 million, up 364% year-on-year, while earnings per share increased to N0.28 from N0.06.
On the balance sheet, total assets reached N1.06 billion, up 22% from N871.2 million in the same period the previous year, with property, plant, and equipment accounting for 66.1% of total assets.
Total shareholders’ equity rose to N1.01 billion from N851.5 million, with revenue reserves of N233.9 million, while total liabilities increased to N1.06 billion from N871.2 million.
What to know
Zichis Agro Allied Industries Plc was incorporated on 12 April 2012 as Zichis Farms Limited and became a public company in May 2024, adopting its current name.
- In July 2025, the SEC approved the company for public trading, leading to its admission to the NGX Growth Board.
- The company operates as an integrated agro-industrial business, involved in oil palm plantations, palm oil and kernel processing, vegetable oil refining, poultry and fish farming, animal feed production, as well as maize and other cash crop farming.
Any short-term pullbacks after the recent buying rally could present opportunities for further gains in the stock.
