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Zen Technologies Limited
(ZENTEC)
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Rating:67Neutral
Price Target:
₹1,954.00
▲(4.31% Upside)
Action:Downgraded
Date:09/06/26
The score is anchored by strong financial resilience (very low leverage) and solid profitability, but is held back by FY2026 revenue contraction and uneven cash-flow consistency. Technically the stock shows mixed momentum with near-term softness, and valuation is a meaningful headwind due to the very high P/E despite the small dividend yield.
Positive Factors
Very conservative balance sheet
Extremely low leverage gives Zen Technologies substantial financial resilience and reduces dependence on borrowing to operate or invest. An expanding equity base also provides a stronger foundation for absorbing business fluctuations while preserving flexibility for future opportunities.
Negative Factors
Revenue contraction
The latest revenue decline signals uneven demand conversion or contract execution and weakens visibility into near-term growth. For a business driven by customer orders and delivery schedules, continued contraction could reduce operating leverage and make future earnings progression less consistent.
Read all positive and negative factors
Positive Factors
Negative Factors
Very conservative balance sheet
Extremely low leverage gives Zen Technologies substantial financial resilience and reduces dependence on borrowing to operate or invest. An expanding equity base also provides a stronger foundation for absorbing business fluctuations while preserving flexibility for future opportunities.
Read all positive factors
Zen Technologies Limited (ZENTEC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹162.59B
Dividend Yield0.06%
Average Volume (3M)47.48K
Price to Earnings (P/E)89.8
Beta (1Y)1.25
Revenue Growth-23.50%
EPS Growth-29.04%
CountryIN
Employees342
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)20.04
Shares Outstanding90,290,360
10 Day Avg. Volume26,016
30 Day Avg. Volume47,484
Financial Highlights & Ratios
PEG Ratio-1.81
Price to Book (P/B)6.09
Price to Sales (P/S)16.72
P/FCF Ratio45.84
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)37.51
Revenue Forecast (FY)₹12.39B
Zen Technologies Limited Business Overview & Revenue Model
Company Description
Established in 1993 and headquartered in Hyderabad, India, Zen Technologies Limited operates globally, specializing in the creation and production of advanced training simulators. Their comprehensive offerings include cutting-edge anti-drone syste...
How the Company Makes Money
Zen Technologies primarily makes money by supplying defence training and simulation products to customers, with revenue typically generated from (1) sale and delivery of training and simulation systems (for example, simulators and associated train...
Zen Technologies Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
90
Very Positive
Cash Flow
70
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.71B | 6.88B | 9.74B | 4.40B | 2.19B | 697.52M |
| Gross Profit | 3.53B | 3.26B | 5.89B | 3.11B | 1.53B | 525.66M |
| EBITDA | 2.84B | 3.31B | 4.39B | 1.96B | 804.64M | 86.16M |
| Net Income | 1.80B | 1.93B | 2.80B | 1.28B | 427.38M | 19.85M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 21.60B | 20.49B | 7.51B | 4.74B | 3.69B |
| Cash, Cash Equivalents and Short-Term Investments | 3.55B | 9.88B | 8.45B | 906.26M | 2.22B | 1.91B |
| Total Debt | 0.00 | 185.17M | 777.04M | 60.34M | 67.54M | 147.55M |
| Total Liabilities | -19.49B | 2.11B | 3.13B | 2.84B | 1.43B | 790.60M |
| Stockholders Equity | 19.49B | 18.89B | 17.01B | 4.49B | 3.16B | 2.83B |
Cash Flow | ||||||
| Free Cash Flow | 947.43M | 2.51B | -1.79B | -167.19M | 1.03B | -485.64M |
| Operating Cash Flow | 1.15B | 3.13B | -1.46B | 134.17M | 1.16B | -442.58M |
| Investing Cash Flow | 2.55B | -2.33B | -8.23B | -852.38M | -36.91M | -436.05M |
| Financing Cash Flow | -750.42M | -750.27M | 10.07B | -32.95M | -218.83M | 879.82M |
Zen Technologies Limited Technical Analysis
Neutral
1873.35
Price Trends
1793.89
Positive
1744.88
Positive
1557.40
Positive
Market Momentum
4.63
Positive
47.02
Neutral
35.80
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZENTEC, the sentiment is Neutral. The current price of 1873.35 is above the 20-day moving average (MA) of 1851.70, above the 50-day MA of 1793.89, and above the 200-day MA of 1557.40, indicating a neutral trend. The MACD of 4.63 indicates Positive momentum. The RSI at 47.02 is Neutral, neither overbought nor oversold. The STOCH value of 35.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ZENTEC.
Zen Technologies Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹3.24T | 34.84 | ― | 0.51% | 7.42% | 12.16% | |
70 Outperform | ₹256.42B | 95.51 | ― | 0.22% | 33.81% | 24.90% | |
68 Neutral | ₹2.96T | 48.26 | ― | 0.62% | 19.83% | 11.75% | |
67 Neutral | ₹162.59B | 89.77 | ― | 0.06% | -23.50% | -29.04% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹144.38B | 112.66 | ― | 0.06% | 69.08% | 59.15% | |
50 Neutral | ₹43.48B | 169.03 | ― | 0.02% | ― | ― |
* General Sector Average
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Zen Technologies Limited Corporate Events
Zen Technologies Publishes AGM and E-Voting Notice in Newspapers
Aug 7, 2026
Zen Technologies Limited is an India-listed company whose shares trade on the National Stock Exchange of India (symbol ZENTEC) and BSE (security code 533339). The company operates under the regulatory framework of SEBI’s Listing Obligations ...
Zen Technologies Steps Up SEBI Compliance With Wider Annual Report Access
Aug 7, 2026
Zen Technologies Limited has notified stock exchanges that it has complied with Regulation 36(1)(b) of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 in relation to its 33rd Annual Report for FY 2025-26. The company has...
Zen Technologies Sets August 29, 2026 Virtual AGM, Publishes FY26 Annual Report
Aug 6, 2026
Zen Technologies Limited has scheduled its 33rd Annual General Meeting for August 29, 2026, at 9:30 a.m. IST, to be conducted via video conferencing or other audio-visual means in line with regulatory requirements. The company has released its ann...
Zen Technologies Schedules Participation in Mumbai Investor Conference
Aug 5, 2026
Zen Technologies Limited has notified the stock exchanges that its management will take part in Nirmal Bang Institutional Equities’ Semi-Annual Investor Conference 2026 on August 10 in Mumbai, meeting investors both one-on-one and in group s...
Zen Technologies adds seasoned independent director to board
Aug 4, 2026
Zen Technologies has strengthened its board by appointing Ms. Uma Priyadarshini Kollareddy as an Additional Director in the category of Non-Executive, Independent Director for a three-year term starting August 4, 2026, subject to shareholder appro...
CRISIL Reaffirms Zen Technologies Ratings, Raises Bank Facility Limit
Aug 3, 2026
Zen Technologies Limited, part of the diversified Zen group, has built a leading position in India’s market for defence training simulators and anti-drone systems, supported by extensive RD and operations spanning several related entities do...
Zen Technologies Publishes Q1 FY2027 Earnings Call Transcript
Jul 31, 2026
Zen Technologies Limited has notified Indian stock exchanges that it has released the official transcript of its Q1 FY2027 earnings conference call held on July 27, 2026. The filing, made under SEBI’s disclosure regulations, formalises the a...
Zen Technologies Sets Virtual Date for 33rd Annual General Meeting
Jul 28, 2026
Zen Technologies Limited has notified the stock exchanges that it has published newspaper advertisements announcing its 33rd Annual General Meeting. The AGM is scheduled for August 29, 2026, at 9:30 a.m. IST and will be conducted through video con...
Zen Technologies Releases Q1 FY27 Investor Presentation on Quarterly Financial Results
Jul 26, 2026
Zen Technologies Limited has released an investor presentation detailing its financial results for the quarter ended June 30, 2026, reinforcing its commitment to timely disclosure to the stock exchanges. The presentation, available on the company&...
Zen Technologies Publishes Q1 FY2026 Unaudited Results in Newspapers
Jul 26, 2026
Zen Technologies Limited has notified the stock exchanges that it has published its unaudited financial results for the quarter ended June 30, 2026 in leading newspapers. The disclosure, made in compliance with SEBI’s listing and transparenc...
Zen Technologies Builds Strong Order Book and Expands Defence Tech Portfolio in Q1 FY27
Jul 26, 2026
Zen Technologies reported that Q1 FY27 revenue aligned with internal expectations, reflecting the early phase of execution on a substantially expanded order book. The company closed the quarter with a consolidated order book of ₹1,239.02 cro...
Zen Technologies Launches India’s First High-Altitude Man-Portable Anti-Drone System
Jul 26, 2026
Zen Technologies Limited has unveiled India’s first high-altitude Man-Portable Anti-Drone System (MPADS), timed with the Kargil Vijay Diwas commemoration to highlight its role in modern mountain warfare. The lightweight, indigenous system is...
Zen Technologies Clears Q1 FY27 Results, Extends QIP Deployment Timeline
Jul 25, 2026
Zen Technologies’ board has approved standalone and consolidated unaudited financial results for the quarter ended June 30, 2026, reinforcing regulatory compliance through submission to both NSE and BSE. The meeting underscores the company&#...
Zen Technologies Board Clears Q1 Results, Key Director Moves and Extends QIP Use Window
Jul 25, 2026
Zen Technologies Limited’s board has approved the standalone and consolidated unaudited financial results for the quarter ended June 30, 2026, signalling continued regulatory compliance and transparency for investors. The results were review...
Zen Technologies files SEBI Regulation 74(5) compliance certificate for Q1 FY27
Jul 2, 2026
Zen Technologies Limited has submitted to the National Stock Exchange of India and BSE Limited a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026. The c...
Zen Technologies transfers ESOP shares without altering capital base
Jun 29, 2026
Zen Technologies Limited has transferred 1,000 equity shares with a face value of ₹1 each to eligible employees under its Employee Stock Option Plan 2021. The shares, exercised at a price of ₹500 per share from the company’s Empl...
Zen Technologies Publishes IEPF Notices to Shareholders
Jun 27, 2026
Zen Technologies Limited has notified the stock exchanges that it has published newspaper notices to its equity shareholders about the impending transfer of unclaimed dividends and corresponding equity shares to the Investor Education and Protecti...
Zen Technologies Schedules Investor Conference Meeting in Hyderabad
Jun 17, 2026
Zen Technologies Limited has notified the exchanges that its management will participate in an analyst and institutional investor conference organized by Kotak Institutional Equities on June 22, 2026. The in-person group meeting will be held in Hy...
Zen Technologies to Engage Investors at Mumbai Defence Conference
Jun 17, 2026
Zen Technologies Limited has scheduled participation by its management in a defence-focused investor conference titled “Armoured Alpha – Navigating the High-Growth Defence Corridor” on June 25, 2026, in Mumbai. The event, organiz...
Zen Technologies to Engage Investors at Citi India Defence & Aerospace Tour
Jun 9, 2026
Zen Technologies Limited has announced that its management will participate in the Citi India Defence Aerospace Investor Tour, an in-person investor conference to be held in Hyderabad on June 12, 2026. The session, scheduled between 3:00 p.m. and...
Zen Technologies to Meet Global Investors at London Conferences
Jun 9, 2026
Zen Technologies Limited has notified the exchanges that its management will participate in investor conferences organised by Kotak Institutional Equities in London on June 15 and 16, 2026. The meetings, to be held in person with analyst and insti...
Zen Technologies to Engage Investors at Defence & Aerospace Conference on June 11
Jun 7, 2026
Zen Technologies Limited has scheduled participation in a Defence Aerospace Conference on June 11, 2026, in Hyderabad, organized by DAM Capital, where its management will meet analysts and institutional investors through one-on-one and group meet...
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.