Zen Technologies Limited (IN:ZENTEC)
:ZENTEC
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Zen Technologies Limited
(ZENTEC)
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Rating:68Neutral
Price Target:
₹1,661.00
▲(21.24% Upside)
Action:Downgraded
Date:05/06/26
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 (below the 20-day but above longer-term averages), and valuation is the biggest drag due to the high P/E and minimal dividend yield.
Positive Factors
Conservative balance sheet / very low leverage
Extremely low debt-to-equity (~0.01) and an expanding equity base provide durable financial resilience. This lowers default and refinancing risk, gives the company flexibility to fund R&D, bid for large defense contracts, and absorb procurement timing delays without needing external financing.
Negative Factors
Revenue contraction and top-line volatility
A meaningful revenue decline and negative multi-year revenue growth undermine top-line visibility. For a defense-systems vendor dependent on project timing and repeat orders, sustained or recurring revenue contractions can reduce scale, pressure margins, and weaken predictable investment in product upgrades.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / very low leverage
Extremely low debt-to-equity (~0.01) and an expanding equity base provide durable financial resilience. This lowers default and refinancing risk, gives the company flexibility to fund R&D, bid for large defense contracts, and absorb procurement timing delays without needing external financing.
Read all positive factors
Zen Technologies Limited (ZENTEC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹144.93B
Dividend Yield0.14%
Average Volume (3M)38.77K
Price to Earnings (P/E)59.4
Beta (1Y)1.38
Revenue Growth-29.37%
EPS Growth-33.01%
CountryIN
Employees342
SectorTechnology
Sector Strength88
IndustryAerospace & Defense
Share Statistics
EPS (TTM)27.58
Shares Outstanding90,290,360
10 Day Avg. Volume37,406
30 Day Avg. Volume38,774
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)44
Revenue Forecast (FY)₹12.65B
Zen Technologies Limited Business Overview & Revenue Model
Company Description
Zen Technologies Limited, together with its subsidiary, designs, develops, and manufactures training simulators in India and internationally. The company provides anti drone systems; combat training simulation and war gaming solutions; armour comb...
How the Company Makes Money
ZENTEC makes money primarily by selling defense training and simulation products and by delivering associated services tied to those systems. Key revenue streams typically include: (1) turnkey project revenues from supplying simulator hardware, in...
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 | 8.09B | 6.88B | 9.74B | 4.40B | 2.19B | 697.52M |
| Gross Profit | 5.15B | 3.26B | 5.89B | 3.11B | 1.53B | 525.66M |
| EBITDA | 4.13B | 2.47B | 4.39B | 1.96B | 804.64M | 86.16M |
| Net Income | 2.48B | 1.93B | 2.80B | 1.28B | 427.38M | 19.85M |
Balance Sheet | ||||||
| Total Assets | 20.49B | 21.60B | 20.49B | 7.51B | 4.74B | 3.69B |
| Cash, Cash Equivalents and Short-Term Investments | 8.33B | 3.55B | 8.45B | 906.26M | 2.22B | 1.91B |
| Total Debt | 179.43M | 185.17M | 777.04M | 60.34M | 67.54M | 147.55M |
| Total Liabilities | 2.08B | 2.11B | 3.13B | 2.84B | 1.43B | 790.60M |
| Stockholders Equity | 17.97B | 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
1370.00
Price Trends
1516.13
Positive
1427.10
Positive
1432.71
Positive
Market Momentum
11.18
Positive
54.14
Neutral
49.04
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 1370 is below the 20-day moving average (MA) of 1621.78, below the 50-day MA of 1516.13, and below the 200-day MA of 1432.71, indicating a neutral trend. The MACD of 11.18 indicates Positive momentum. The RSI at 54.14 is Neutral, neither overbought nor oversold. The STOCH value of 49.04 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 (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹214.63B | 62.62 | ― | 0.30% | 30.55% | 22.32% | |
69 Neutral | ₹218.71B | 62.32 | ― | 0.08% | 90.04% | 79.07% | |
68 Neutral | ₹144.93B | 59.44 | ― | 0.14% | -29.37% | -33.01% | |
64 Neutral | ₹49.91B | 125.84 | ― | 0.21% | 2.34% | -9.30% | |
63 Neutral | ₹96.54B | 23.95 | ― | 0.69% | 21.53% | 3.38% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
51 Neutral | ₹109.75B | 49.76 | ― | 0.24% | 8.54% | 19.38% |
* Technology Sector Average
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Zen Technologies Limited Corporate Events
Zen Technologies Launches India’s First AI-Powered Fully Integrated Anti-Drone System
May 5, 2026
Zen Technologies Limited has unveiled what it calls India’s first AI-powered, fully integrated anti-drone system, launched at the North Tech Symposium 2026 in Prayagraj. The modular, indigenously developed platform is designed to counter the...
Zen Technologies Publishes Investor Presentation on FY26 Financial Results
May 3, 2026
Zen Technologies Limited has released an investor presentation detailing its financial results for the quarter and full year ended March 31, 2026. The presentation, made available to stock exchanges and on the company’s website, aims to upda...
Zen Technologies Flags Muted FY26 but Enters FY27 With Strong Order Book and Expanded Defence Capabilities
May 3, 2026
Zen Technologies reported muted financial performance for FY26 compared with the previous year, a trend it had already signalled to investors, but emphasised a significant structural transformation of its business. The company now offers five dist...
Zen Technologies clears FY26 results, declares 100% dividend and strengthens leadership bench
May 1, 2026
Zen Technologies Limited is an Indian technology company based in Hyderabad that focuses on advanced solutions, operating with ISO 9001:2015, ISO 27001:2022 and CMMI Level 5 certifications. The company is listed on NSE and BSE and serves defence a...
Zen Technologies Clears FY26 Results, Sets Dividend Record Date and Appoints New CTO
May 1, 2026
Zen Technologies Limited’s board has approved the standalone and consolidated audited financial results for the year ended 31 March 2026, along with unaudited results for the fourth quarter, with statutory auditors issuing unmodified opinion...
Zen Technologies Clears FY26 Results, Declares Dividend and Strengthens Leadership Bench
May 1, 2026
Zen Technologies’ board has approved the standalone and consolidated audited financial results for the year ended 31 March 2026, along with unaudited results for the fourth quarter, all backed by unmodified audit opinions, and signed off on ...
Zen Technologies clears FY26 results, declares dividend and strengthens leadership bench
May 1, 2026
Zen Technologies’ board has approved the standalone and consolidated audited financial results and financial statements for the year ended 31 March 2026, with statutory auditors issuing unmodified opinions. The board also recommended a 100% ...
Zen Technologies Clears FY26 Results, Declares Dividend and Names New CTO
May 1, 2026
Zen Technologies’ board has approved the standalone and consolidated audited financial results for the year ended 31 March 2026, along with unaudited fourth-quarter figures, with the statutory auditor issuing unmodified opinions on the annua...
Zen Technologies Grants 6,000 ESOPs Under 2021 Stock Option Plan
May 1, 2026
Zen Technologies Limited has granted 6,000 employee stock options under its 2021 Employee Stock Option Plan, following approval by the Nomination and Remuneration Committee. The options, each convertible into one equity share with a face value of ...
Zen Technologies Files SEBI Regulation 74(5) Compliance Certificate for Q4 FY26
Apr 2, 2026
Zen Technologies Limited has notified stock exchanges that it has received and submitted a compliance certificate from its registrar and transfer agent, KFin Technologies Limited, under Regulation 74(5) of the SEBI (Depositories and Participants) ...
Zen Technologies Transfers ESOP Shares Without Changing Share Capital
Apr 1, 2026
Zen Technologies Limited has transferred 2,580 equity shares of face value ₹1 each to eligible employees pursuant to the exercise of options granted under its Employee Stock Option Plan 2021. The shares were moved from the Zen Technologies E...
Zen Technologies to Close Trading Window Ahead of FY26 Results
Mar 25, 2026
Zen Technologies Limited has notified the stock exchanges that it will close its trading window for dealing in its securities from April 1, 2026, until 48 hours after the announcement of its standalone and consolidated financial results for the qu...
Zen Technologies Publishes Postal Ballot Notice in Newspapers, Confirms Regulatory Compliance
Mar 21, 2026
Zen Technologies Limited has notified the stock exchanges that it has published newspaper advertisements confirming the dispatch of a postal ballot notice to shareholders. The notices appeared on March 21, 2026 in Financial Express across all edit...
Zen Technologies opens special window for transfer and demat of physical shares
Mar 10, 2026
Zen Technologies Limited has notified stock exchanges that it has published newspaper advertisements in Financial Express and Nava Telangana, informing shareholders about the opening of a special window for transfer and dematerialisation of physic...
Zen Technologies Transfers 1,860 ESOP Shares Without Changing Share Capital
Feb 25, 2026
Zen Technologies Limited has transferred 1,860 equity shares of face value ₹1 each to eligible employees upon exercise of options granted under its Zen Technologies Limited Employee Stock Option Plan-2021. The shares were moved from the Zen ...
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.