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Zensar Technologies Limited
(ZENSARTECH)
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Rating:80Outperform
Price Target:
₹618.00
▲(22.17% Upside)
Action:Reiterated
Date:10/30/26
The score is driven primarily by strong financial performance (low leverage, strengthening balance sheet, and solid cash generation). Valuation is reasonable with a mid-teens P/E and a decent dividend yield, supporting the rating. Technicals are positive but tempered by overbought momentum signals, which add near-term pullback risk.
Positive Factors
Conservative balance sheet
Declining debt alongside strong equity growth gives Zensar substantial financial resilience and flexibility. Low leverage reduces financing pressure, supports continued investment in technology services, and improves the company’s ability to withstand uneven demand over the next several quarters.
Negative Factors
Modest latest revenue growth
Although revenue has grown over several years, the latest annual increase was modest, indicating that near-term expansion may be slowing. Sustaining stronger growth will require continued demand for Zensar’s consulting, cloud, analytics, and digital transformation services across its markets.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Declining debt alongside strong equity growth gives Zensar substantial financial resilience and flexibility. Low leverage reduces financing pressure, supports continued investment in technology services, and improves the company’s ability to withstand uneven demand over the next several quarters.
Read all positive factors
Zensar Technologies Limited (ZENSARTECH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹121.95B
Dividend Yield2.8%
Average Volume (3M)132.94K
Price to Earnings (P/E)15.5
Beta (1Y)1.33
Revenue Growth8.81%
EPS Growth12.08%
CountryIN
Employees10,779
SectorGeneral
Sector StrengthN/A
IndustryInformation Technology Services
Share Statistics
EPS (TTM)34.21
Shares Outstanding227,743,330
10 Day Avg. Volume167,838
30 Day Avg. Volume132,938
Financial Highlights & Ratios
PEG Ratio0.83
Price to Book (P/B)2.59
Price to Sales (P/S)2.15
P/FCF Ratio17.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)33.63
Revenue Forecast (FY)₹62.57B
Zensar Technologies Limited Business Overview & Revenue Model
Company Description
Zensar Technologies Limited is a leading firm specializing in digital solutions and technology services, providing comprehensive information technology (IT) offerings across the United States, Europe, and other global markets. Its operations are s...
Zensar Technologies Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.11B | 56.87B | 52.81B | 49.02B | 48.48B | 42.44B |
| Gross Profit | 12.40B | 12.79B | 14.35B | 14.05B | 10.88B | 10.98B |
| EBITDA | 10.79B | 11.25B | 9.75B | 10.29B | 6.53B | 7.94B |
| Net Income | 7.76B | 7.75B | 6.50B | 6.65B | 3.28B | 4.16B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 60.84B | 51.73B | 46.48B | 41.21B | 38.71B |
| Cash, Cash Equivalents and Short-Term Investments | 25.87B | 25.91B | 19.97B | 13.82B | 11.77B | 10.24B |
| Total Debt | 0.00 | 793.00M | 1.25B | 1.86B | 2.73B | 3.35B |
| Total Liabilities | -47.19B | 13.64B | 11.03B | 10.86B | 11.45B | 11.84B |
| Stockholders Equity | 47.19B | 47.19B | 40.70B | 35.62B | 29.76B | 26.87B |
Cash Flow | ||||||
| Free Cash Flow | 2.84B | 7.17B | 5.28B | 6.26B | 6.78B | 2.78B |
| Operating Cash Flow | 3.07B | 7.71B | 5.65B | 6.42B | 7.14B | 3.35B |
| Investing Cash Flow | 645.00M | -2.41B | -4.88B | -4.75B | -5.28B | -168.00M |
| Financing Cash Flow | -2.75B | -4.01B | -2.65B | -1.97B | -2.19B | -1.83B |
Zensar Technologies Limited Technical Analysis
Positive
505.85
Price Trends
464.53
Positive
472.01
Positive
515.39
Positive
Market Momentum
18.94
Negative
69.94
Neutral
60.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZENSARTECH, the sentiment is Positive. The current price of 505.85 is above the 20-day moving average (MA) of 484.79, above the 50-day MA of 464.53, and below the 200-day MA of 515.39, indicating a bullish trend. The MACD of 18.94 indicates Negative momentum. The RSI at 69.94 is Neutral, neither overbought nor oversold. The STOCH value of 60.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ZENSARTECH.
Zensar Technologies Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹121.95B | 15.49 | ― | 2.80% | 8.81% | 12.08% | |
77 Outperform | ₹90.36B | 14.68 | ― | 2.01% | 3.75% | 32.75% | |
77 Outperform | ₹44.31B | 10.40 | ― | 1.68% | 6.37% | 16.34% | |
76 Outperform | ₹1.00T | 52.58 | ― | 0.30% | 27.10% | 7.08% | |
75 Outperform | ₹908.23B | 39.86 | ― | 0.58% | 41.21% | 84.56% | |
63 Neutral | ₹62.72B | 13.39 | ― | 3.53% | 3.97% | 8.32% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
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Zensar Technologies Limited Corporate Events
Zensar Board Clears Q2 FY2026 Unaudited Results After Clean Auditor Review
Oct 28, 2026
Zensar Technologies Limited, a Pune-based IT services and digital solutions provider within the RPG Group, is publicly listed on BSE and NSE under the symbol ZENSARTECH. The company serves global enterprises with technology and consulting offering...
Zensar Approves Merger of Wholly Owned Subsidiary M3BI Into Parent
Oct 28, 2026
Zensar Technologies’ board has approved a Scheme of Amalgamation to merge its wholly owned subsidiary M3BI India Private Limited into the parent company under Sections 230 to 232 of the Companies Act, 2013. The merger, which will dissolve M3...
Zensar posts Q2FY27 revenue growth as AI-led deals drive order book
Oct 28, 2026
Zensar Technologies reported consolidated Q2FY27 revenue of $166.2 million, reflecting 4.1% sequential constant currency growth, 5.1% QoQ and 11.5% YoY growth in INR terms, alongside an EBITDA margin of 15.8%, up 120 basis points. Growth was broad...
Zensar Technologies posts Q2FY27 revenue growth as AI-led deals gain momentum
Oct 28, 2026
Zensar Technologies reported consolidated Q2FY27 revenue of $166.2 million, reflecting 4.1% sequential constant currency growth and 11.5% year-on-year growth in rupee terms, with EBITDA margin improving to 15.8%, up 120 basis points quarter-on-qua...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.