Zen Technologies Shares Rise 4.40% On Securing ₹42 Crore Order

Zen Technologies, a leading provider of anti-drone technology and defence training solutions in India, witnessed a 4.40% surge in its shares, reaching ₹754 per share in early Monday’s trading session. This positive market movement followed the company’s recent achievement of securing an export order valued at around ₹42 crore.

The order, which includes cutting-edge simulators, originates from a friendly nation and underscores the Indian government’s commitment to enhancing defence exports in line with the national goal of becoming a net defence exporter. The announcement was made through an official exchange filing on November 18.

Zen Technologies has been consistently winning substantial orders from the Ministry of Defence (MoD) in India, with key contributing factors being the Make in India initiative, ‘Atmanirbharata’ (self-reliance), Buy Indian IDDM (Indigenously Designed, Developed, and Manufactured), Simulation Framework, and the government’s dedication to sustainability.

In a noteworthy development on October 26, the company secured an order worth approximately ₹100 crore from the Ministry of Defence, India, for its state-of-the-art Force-On-Force tank training system. In September, Zen Technologies also clinched a significant contract from the Ministry of Defence for the supply of Anti-Drone systems, with a total order value of ₹227.85 crore, as per the regulatory filing made by the company.

Zen Technologies is actively involved in the indigenous design, development, and manufacture of defence training systems, drones, and anti-drone solutions based on sensor and simulator technology. The company caters to the Ministry of Defence (Armed Forces), Security Forces Police, and paramilitary forces, offering comprehensive defence training solutions.

This year has witnessed a remarkable surge in the company’s share value, rising from ₹189.95 per share to ₹747 per share, marking an impressive gain of 305%. This performance represents the best yearly outcome for the stock since its listing in 2016. Over the past five years, the stock has seen a substantial increase of 1057%.

In terms of financials, Zen Technologies reported a standalone net profit of ₹17.34 crore, reflecting a YoY increase of 281%. Additionally, the revenue from operations stood at ₹64.03 crore, marking a YoY improvement of 203% compared to the ₹21 crore reported in the same period last year.

As of 10:00 AM, the stock was trading with a gain of 3.26% at ₹745 per share.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​
Daily Index & Stock Option Research On Whatsapp
We will be happy to hear your thoughts

      Leave a reply

      Share Price India News