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Zen Technologies Limited
(ZENTEC)
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Rating:67Neutral
Price Target:
₹1,722.00
▼(-8.08% Downside)
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 Low Leverage
Extremely low leverage gives Zen Technologies substantial financial resilience and reduces the burden of interest and refinancing obligations. This leaves greater flexibility to fund product development, pursue contracts, and withstand periods of uneven revenue without relying heavily on external capital.
Negative Factors
FY2026 Revenue Contraction
The sharp FY2026 revenue decline indicates that recent business expansion has not been consistent and could make future earnings less predictable. Sustained contraction would reduce operating leverage, limit reinvestment capacity, and make it harder for the company to build durable scale in its target markets.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Extremely low leverage gives Zen Technologies substantial financial resilience and reduces the burden of interest and refinancing obligations. This leaves greater flexibility to fund product development, pursue contracts, and withstand periods of uneven revenue without relying heavily on external capital.
Read all positive factors
Zen Technologies Limited (ZENTEC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹143.29B
Dividend Yield0.06%
Average Volume (3M)25.19K
Price to Earnings (P/E)79.3
Beta (1Y)1.38
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. Volume27,804
30 Day Avg. Volume25,188
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)37.23
Revenue Forecast (FY)₹12.27B
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...
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
Positive
1873.35
Price Trends
1701.45
Negative
1744.13
Negative
1601.52
Positive
Market Momentum
-29.15
Negative
50.03
Neutral
48.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZENTEC, the sentiment is Positive. The current price of 1873.35 is above the 20-day moving average (MA) of 1593.71, above the 50-day MA of 1701.45, and above the 200-day MA of 1601.52, indicating a neutral trend. The MACD of -29.15 indicates Negative momentum. The RSI at 50.03 is Neutral, neither overbought nor oversold. The STOCH value of 48.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 | ₹3.23T | 34.82 | ― | 0.52% | 7.42% | 12.16% | |
72 Outperform | ₹212.74B | 79.41 | ― | 0.26% | 33.81% | 24.90% | |
68 Neutral | ₹2.70T | 44.04 | ― | 0.68% | 19.83% | 11.75% | |
67 Neutral | ₹143.29B | 79.26 | ― | 0.06% | -23.50% | -29.04% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹148.21B | 104.11 | ― | 0.06% | 77.12% | 46.48% | |
52 Neutral | ₹51.36B | 199.47 | ― | 0.02% | ― | ― |
* General Sector Average
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Zen Technologies Limited Corporate Events
Zen Technologies to Take Majority Stake in Battlefield Tech Firm Cogknit Semantics
Oct 18, 2026
Zen Technologies’ board has approved an investment of ₹135.15 crore to acquire a 51.98% fully diluted stake in Cogknit Semantics, an Indian developer of Battlefield Management Systems, making it a subsidiary while retaining its foundin...
Zen Technologies to Acquire Controlling Stake in Cogknit Semantics
Oct 17, 2026
Zen Technologies’ board has approved the acquisition of a 51.98% controlling stake, on a fully diluted basis, in Cogknit Semantics Private Limited for up to Rs 135.15 crore in cash. The deal will be executed through a combination of secondar...
Zen Technologies Transfers 2,000 ESOP Shares Without Altering Capital Base
Oct 7, 2026
Zen Technologies Limited has transferred 2,000 equity shares of face value ₹1 each to eligible employees under its Employee Stock Option Plan–2021. The shares were moved from the company’s Employees Welfare Trust following comple...
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...
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.