Zen Technologies share price
NSE: ZENTECBSE: 533339Aerospace & DefenseSmall Cap
Share price at the NSE close on 29 Oct 2026. Previous close ₹1,568.80.
29 Oct: open ₹1,569.00, high ₹1,627.00, low ₹1,569.00
- Next results date: the board meets on 31 Oct 2026 to consider: financial results and other business matters. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹14,641 Cr466th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 81.29
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 7.75
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.06%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 10.0%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 10.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 2,21,14334.7% delivered
About Zen Technologies
Zen Technologies Limited is a Hyderabad-based defence technology company that designs, develops and manufactures training simulators, counter-drone systems and other military equipment, and owns the intellectual property behind them.12 It sells to the Indian armed forces, central and state police organisations and customers abroad, and is expanding in the Middle East, the CIS countries (former Soviet states) and South-East Asia.13
Its business rests on 3 offerings: training solutions, from live firing ranges to virtual simulation; counter-drone detection and neutralisation; and military hardware such as robotic surveillance systems and remote weapon stations (guns aimed and fired by an operator from a distance).2 Its products include the Hawkeye drone-detection camera, the VyomKavach counter-drone system, the Barbarik and Parashu remote controlled weapon stations, the Vrishabh unmanned ground vehicle and the Hyperstrike loitering strike platform (a drone that waits over a target before striking).45
Founded in 1993 in Hyderabad, the company began by building simulators for the Indian Army; it listed on the Bombay Stock Exchange in 2004 and on the National Stock Exchange in 2015.16 Its counter-drone system was among the equipment deployed during Operation Sindoor.7 Between June and November 2025 it took majority stakes in TISA Aerospace (loitering munitions) and Anawave Systems and Solutions (naval training systems), and full ownership of Applied Research International (naval and marine simulation).89
Its promoters include Chairman and Managing Director Ashok Atluri, who held 21.65% of the shares at the end of March 2026, and President and Joint Managing Director Kishore Dutt Atluri, who held 16.33%.1011
Zen Technologies key points
Results
- In the quarter to Jun 2026, Zen Technologies' consolidated revenue from operations was ₹141.64 crore, against ₹158.22 crore a year earlier, and EBITDA (profit before interest, tax, depreciation and amortisation) was ₹57.88 crore, against ₹86.49 crore.12
- In the year to Mar 2026, consolidated revenue was ₹687.69 crore, against ₹973.64 crore a year earlier; reported EBITDA was ₹332.66 crore, and operational EBITDA, which excludes other operating income, ₹247.24 crore at a 35.95% margin.13
- Operational EBITDA was ₹38.7 crore in the quarter to Jun 2026, a 27.3% margin, against 40.9% a year earlier, when, the company said, ₹7.65 crore of reversed provisions added about 5% to the margin.1415
- Profit after tax after minority owners' share was ₹34.46 crore in the quarter to Jun 2026, against ₹47.75 crore a year earlier, and ₹193.45 crore in the year to Mar 2026, out of a reported ₹217.93 crore.1617
Main subsidiaries
- Unistring Tech Solutions, a subsidiary, designs and develops electronic warfare, communication and radar products; its revenue from operations was ₹21,140.35 lakh and profit after tax ₹5,601.45 lakh in the year to Mar 2026.1819
- Applied Research International makes simulation and assessment tools for the marine, offshore, naval, ports, construction and mining industries; its revenue from operations was ₹13,116.45 lakh and profit after tax ₹3,968.17 lakh in the year to Mar 2026.19
- Vector Technics, 51% owned, makes drone motors, speed controllers and propellers; its revenue was ₹924.36 lakh, with a loss of ₹491.96 lakh, in the year to Mar 2026.2021
Where revenue comes from
- Consolidated revenue by customer location22
Item year to Mar 2026 year to Mar 2025 Domestic ₹60,902.62 lakh ₹61,012.43 lakh Overseas ₹7,866.38 lakh ₹36,351.73 lakh
Order book
- Zen Technologies' consolidated order book (orders received but not yet delivered) was ₹1,239.02 crore at the end of June 2026, against ₹1,336.04 crore at the end of March 2026: ₹920.59 crore for equipment and ₹318.43 crore for annual maintenance contracts.23
- Of the order book at the end of June 2026, ₹1,153.77 crore was domestic and ₹85.25 crore export.24
- On 10 Aug 2026, Zen Technologies received a ₹295 crore order, including GST, from the Ministry of Defence for the supply of simulators, to be executed within a year.2526
- On 21 Jul 2026, it received a ₹177.5 crore order, including GST, from the Ministry of Defence for upgrading and integrating tank and crew gunnery simulators, also to be executed within a year.2728
Customers and partners
- In the year to Mar 2026, 3 customers each provided more than 10% of consolidated revenue, together 56.94%; a year earlier, 1 customer provided 60.96%.29
Research and development
- Zen Technologies spent ₹45.44 crore on research and development in the year to Mar 2026.30
- Zen Technologies counts 94 patents granted to date and 223 global and Indian patents filed; it also holds 195 trademarks.3130
- Its R&D centre at Sanath Nagar, Hyderabad, is recognised by the Ministry of Science and Technology; as of its annual report for the year to Mar 2026, a facility at the Electronic Manufacturing Cluster in Tuem, Goa, was upcoming.32
What the company expects
- The company stated in its annual report for the year to Mar 2026 that it expects about ₹1,000 crore of the order book to become revenue in the year to Mar 2027, and ₹4,000 crore of turnover over that year and the next.33
- On its earnings call of 27 Jul 2026, the company said it expects to end the year to Mar 2027 with an operational EBITDA margin in the mid-30s.34
- On its earnings call of 27 Jul 2026, the company said it expects to end the year to Mar 2027 with an order book of around ₹2,500 crore, after that year's execution.35
Recent events
- On 17 Oct 2026, the board approved buying a 51.98% stake, on a fully diluted basis (counting all convertible shares), in Cogknit Semantics, which develops AI-based battlefield management systems, for up to ₹135.15 crore in cash.3637
- On 3 Aug 2026, CRISIL Ratings reaffirmed its A/Positive long-term and A1 short-term credit ratings (opinions on the ability to repay debt) on Zen Technologies' bank facilities, and the rated amount rose to ₹386 crore from ₹256 crore.38
- On 25 Apr 2026, a fire damaged inventory at the subsidiary Unistring Tech Solutions; the annual report gave the final loss as pending a surveyor's assessment. The company said a subsidiary fire caused a ₹3.4 crore one-off loss in the quarter to Jun 2026.3940
- In a press release of 17 Apr 2026, the company said the Government of India had granted it a licence under the Arms Act, 1959, to manufacture 12.7mm, 23mm, 30mm and 40mm cannons, used in air defence, naval and counter-drone roles.41
Last updated
All 41 sources, each with its page
- 1. Annual report, 6 Aug 2026, page 4
- 2. Annual report, 6 Aug 2026, page 21
- 3. Annual report, 6 Aug 2026, page 15
- 4. Annual report, 6 Aug 2026, page 5
- 5. Annual report, 6 Aug 2026, page 6
- 6. Annual report, 6 Aug 2026, page 13
- 7. Annual report, 6 Aug 2026, page 5
- 8. Annual report, 6 Aug 2026, page 21
- 9. Annual report, 6 Aug 2026, page 162
- 10. Annual report, 6 Aug 2026, page 168
- 11. Annual report, 6 Aug 2026, page 22
- 12. Investor presentation, 26 Jul 2026, page 9
- 13. Annual report, 6 Aug 2026, page 21
- 14. Earnings call, 27 Jul 2026, page 3
- 15. Earnings call, 27 Jul 2026, page 4
- 16. Investor presentation, 26 Jul 2026, page 9
- 17. Annual report, 6 Aug 2026, page 21
- 18. Annual report, 6 Aug 2026, page 43
- 19. Annual report, 6 Aug 2026, page 44
- 20. Annual report, 6 Aug 2026, page 44
- 21. Annual report, 6 Aug 2026, page 162
- 22. Annual report, 6 Aug 2026, page 246
- 23. Investor presentation, 26 Jul 2026, page 11
- 24. Investor presentation, 26 Jul 2026, page 12
- 25. Exchange filing, 10 Aug 2026, page 1
- 26. Exchange filing, 10 Aug 2026, page 2
- 27. Exchange filing, 21 Jul 2026, page 1
- 28. Exchange filing, 21 Jul 2026, page 2
- 29. Annual report, 6 Aug 2026, page 247
- 30. Annual report, 6 Aug 2026, page 10
- 31. Annual report, 6 Aug 2026, page 4
- 32. Annual report, 6 Aug 2026, page 12
- 33. Annual report, 6 Aug 2026, page 6
- 34. Earnings call, 27 Jul 2026, page 4
- 35. Earnings call, 27 Jul 2026, page 5
- 36. Exchange filing, 17 Oct 2026, page 1
- 37. Exchange filing, 17 Oct 2026, page 3
- 38. Exchange filing, 3 Aug 2026, page 1
- 39. Annual report, 6 Aug 2026, page 255
- 40. Earnings call, 27 Jul 2026, page 3
- 41. Exchange filing, 17 Apr 2026, page 2
Results
Standalone, as consolidated accounts are on record for only 9 of the last ten years; ₹ crore.Zen Technologies quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −23.5%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −28.2%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹103 Crup 43.19%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹29 Crup 98.07%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 28.4%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 242 | 142 | 293 | 111 | 125 | 116 | 72 | 103 |
| Net profit | 65 | 39 | 85 | 37 | 46 | 48 | 15 | 29 |
| Net margin | 27.0% | 27.3% | 28.9% | 33.4% | 37.0% | 41.2% | 20.5% | 28.4% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹424 Crdown 54.47%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹146 Crdown 44.53%
- Net margin
- 34.4%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
The years either side of a change of basis do not compare. From the year to Mar 2019, the company's revenue for that year, ₹92 Cr, differs from its quarters added, ₹93 Cr.
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 62 | 39 | 92 | 147 | 50 | 54 | 161 | 430 | 931 | 424 |
| Net profit | 7 | 0 | 19 | 61 | 4 | 2 | 38 | 129 | 263 | 146 |
| Net margin | 11.6% | −1.0% | 20.9% | 41.2% | 8.3% | 3.8% | 23.3% | 30.0% | 28.3% | 34.4% |
Business segments
In the year to Mar 2026 the company reports one business segment, DEFENCE AND HOMELAND, which carries all its revenue.
Valuation
Today, against the company's own history. Its history crosses a change of basis in the accounts in the year to Mar 2019: days before it are of the company before the change.Zen Technologies PE ratio and valuation
At or below today's level on 57% of 908 trading days over the last 5 years.
At or below today's level on 63% of 1,797 trading days since Nov 2018.
At or below today's level on 37% of 2,449 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −13.4% | −44.5% | +56.0% | 0.1% |
| 3 years | +57.5% | +50.6% | +4.5% | 0.1% |
| 5 years | +75.3% | +99.0% | −11.9% | 0.1% |
Mutual fund holdings
70 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 56 of the 61 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 70 funds holding Zen Technologies
- AddedAdded. Funds that held more shares than at the end of the month before.
- 24
- CutCut. Funds that held fewer shares than at the end of the month before.
- 37
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 9
| Fund | |||
|---|---|---|---|
| 38,13,712 | 3.09% | ₹612.2 Cr | |
| 11,90,000 | 3.91% | ₹191.0 Cr | |
| 6,21,953 | 1.84% | ₹99.8 Cr | |
| 2,22,850 | 0.92% | ₹35.8 Cr | |
| 1,61,294 | 1.84% | ₹25.9 Cr | |
| 1,47,492 | 1.84% | ₹23.7 Cr | |
| 88,616 | 0.94% | ₹14.2 Cr | |
| 71,315 | 0.33% | ₹11.4 Cr | |
| 64,485 | 1.03% | ₹10.4 Cr | |
| 59,405 | 1.04% | ₹9.54 Cr |
Promoter and insider buying and selling
Trades made since 29 Oct 2025.Zen Technologies insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade
Zen Technologies competitors and peers
Aerospace & Defense, 35 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Zen Technologies in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 22,031 | 27.52 | 8.39 | +39.6% | +42.9% | 34.0% | 29.8% | 1.02% | |
| 17,494 | – | – | – | – | – | 13.0% | 0.00% | |
| 15,665 | 112.74 | 10.31 | +77.1% | +69.7% | 10.7% | 11.8% | 0.06% | |
| 14,989 | 79.29 | 11.40 | +4.0% | +16.3% | 15.7% | 17.4% | 0.15% | |
| 14,624 | – | 10.50 | – | – | −14.5% | −5.7% | 0.00% | |
| 10,716 | 102.93 | 13.91 | +41.7% | +48.2% | 14.4% | 15.9% | 0.08% | |
| 8,502 | 233.99 | 11.69 | +4.6% | −53.8% | 5.3% | 10.7% | 0.00% | |
| 8,440 | 95.76 | 10.57 | +40.0% | +10.8% | 11.7% | 9.8% | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.Zen Technologies dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 21 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.00 |
| 14 Aug 2025 | Final | ₹2.00 |
| 6 Sep 2024 | Final | ₹1.00 |
| 8 Sep 2023 | Final | ₹0.20 |
| 21 Sep 2022 | Final | ₹0.10 |
| 18 Aug 2021 | Final | ₹0.10 |
Latest announcements
Routine notices left out.Zen Technologies announcements
Oct 2026
27 Oct · Analysts
19 Oct
17 Oct · Business
Zen Technologies share price by year
Each calendar year to 2025.Zen Technologies share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,368.40 | −44.0% | 2,539.05 | 972.00 |
| 2024 | 2,445.65 | +207.8% | 2,577.00 | 706.20 |
| 2023 | 794.60 | +331.3% | 868.00 | 187.25 |
| 2022 | 184.25 | −14.7% | 228.70 | 150.85 |
| 2021 | 216.00 | +140.0% | 245.50 | 70.80 |
| 2020 | 90.00 | +59.4% | 95.70 | 22.75 |
| 2019 | 56.45 | −28.0% | 85.30 | 50.80 |
| 2018 | 78.40 | −48.1% | 153.60 | 55.85 |
| 2017 | 151.10 | +114.8% | 151.10 | 47.55 |
| 2016 | 70.35 | −42.7% | 125.90 | 55.75 |
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 1,562.10 | 1,600.00 | 1,545.50 | 1,568.80 | 1,571.89 | 1,45,865 | 33.4% |
| 27 Oct 2026 | 1,559.90 | 1,614.00 | 1,546.90 | 1,562.40 | 1,585.96 | 2,36,405 | 30.1% |
| 26 Oct 2026 | 1,489.00 | 1,560.00 | 1,475.00 | 1,544.70 | 1,523.08 | 2,11,864 | 35.7% |
| 23 Oct 2026 | 1,555.10 | 1,562.20 | 1,463.00 | 1,493.80 | 1,487.19 | 4,22,703 | 47.9% |
| 22 Oct 2026 | 1,590.00 | 1,596.40 | 1,551.60 | 1,562.20 | 1,574.04 | 1,53,161 | 36.8% |
| 21 Oct 2026 | 1,625.00 | 1,625.00 | 1,561.10 | 1,613.50 | 1,594.96 | 2,24,083 | 36.5% |
| 19 Oct 2026 | 1,668.10 | 1,668.10 | 1,618.30 | 1,627.40 | 1,638.61 | 1,53,731 | 31.6% |
| 16 Oct 2026 | 1,698.00 | 1,698.00 | 1,641.50 | 1,655.60 | 1,668.49 | 1,92,102 | 40.5% |
| 15 Oct 2026 | 1,648.10 | 1,708.40 | 1,620.00 | 1,695.00 | 1,663.29 | 2,68,638 | 44.5% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Buyback history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 17 Feb 2025 | Price move | – | Between two trading sessions the price moved by a fifth or more. The company's board met on results that day or since the trading day before. Not adjusted for. |
| 21 Nov 2014 | Price move | – | Between two trading sessions the price fell 47% or more, or rose 90% or more. No corporate action is on record. Earlier prices are not shown. |
Company details
- NSE symbol
- ZENTEC
- BSE code
- 533339
- ISIN
- INE251B01027
- Industry
- Aerospace & Defense
- Website
- www.zen.in
- CIN
- L72200TG1993PLC015939
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1993
- Registered office
- B-42, Industrial Estate, Sanathnagar, Hyderabad 500018, Telangana
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments