-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HH/BSewn2pQF/rsZY4vyn+naMqfLisO4vsNnqVup455BJcvvOaLtMTLQiwSpDJdi
 en5oyCEQzLcCBTr+ZoNA1w==

<SEC-DOCUMENT>0001068800-05-000212.txt : 20050329
<SEC-HEADER>0001068800-05-000212.hdr.sgml : 20050329
<ACCEPTANCE-DATETIME>20050329171620
ACCESSION NUMBER:		0001068800-05-000212
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050328
FILED AS OF DATE:		20050329
DATE AS OF CHANGE:		20050329

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZOLTEK COMPANIES INC
		CENTRAL INDEX KEY:			0000890923
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRICAL INDUSTRIAL APPARATUS [3620]
		IRS NUMBER:				431311101
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		3101 MCKELVEY RD
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63044
		BUSINESS PHONE:		3142915110

	MAIL ADDRESS:	
		STREET 1:		3101 MCKELVEY ROAD
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63044

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DILL CHARLES A
		CENTRAL INDEX KEY:			0001203680

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20600
		FILM NUMBER:		05710503

	MAIL ADDRESS:	
		STREET 1:		8000 MARYLAND AVE SUITE 1190
		CITY:			ST LOUIS
		STATE:			MO
		ZIP:			63105
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>dill_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-03-28</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000890923</issuerCik>
        <issuerName>ZOLTEK COMPANIES INC</issuerName>
        <issuerTradingSymbol>ZOLT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001203680</rptOwnerCik>
            <rptOwnerName>DILL CHARLES A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1></rptOwnerStreet1>
            <rptOwnerStreet2>3101 MCKELVEY ROAD</rptOwnerStreet2>
            <rptOwnerCity>ST. LOUIS</rptOwnerCity>
            <rptOwnerState>MO</rptOwnerState>
            <rptOwnerZipCode>63044</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-03-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>96530</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>7.82</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>96530</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Reporting Person as Trustee under Charles A. Dill IRA</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>6% Convertible Debentures Due 2006</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.82</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-03-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>750000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-03-28</value>
            </exerciseDate>
            <expirationDate>
                <value>2006-07-13</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>96530</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Reporting Person as Trustee under Charles A. Dill IRA</value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <ownerSignature>
        <signatureName>/s/ Jill A. Schmidt, Attorney-in-Fact for Charles A. Dill</signatureName>
        <signatureDate>2005-03-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----