In recent financial news, HDFC Securities has issued a “buy” call for Zen Technologies Ltd. and set a target price of Rs 854.0. Currently, Zen Technologies Ltd. is trading at Rs 758.
Zen Technologies Ltd., founded in 1993, is classified as a Small Cap company within the IT Software sector, with a market capitalization of Rs 6387.36 Crore. The company’s primary Products/Revenue Segments consist of Software Services and Software Products, as reported for the fiscal year ending on 31st March 2022.
Analyzing the financials for the quarter ending on 30th June 2023, the company reported a Consolidated Total Income of Rs 135.13 Crore. This figure represents a noteworthy increase of 40.96% compared to the previous quarter’s Total Income of Rs 95.86 Crore and an impressive surge of 244.37% compared to the Total Income for the same quarter in the previous year, which stood at Rs 39.24 Crore. The latest quarter’s financial report also indicates a net profit after tax of Rs 48.44 Crore.
Promoter and Foreign Institutional Investor (FII) Holdings as of June 30, 2023, reveal that promoters hold a substantial 57.45% stake in the company, while FIIs own 3.47%, and Domestic Institutional Investors (DIIs) hold 0.21%.
Investors exploring potential investment opportunities in the IT Software sector may find HDFC Securities’ “buy” recommendation on Zen Technologies an attractive consideration as they make their investment decisions.
