Zen Technologies logo

Zen Technologies share price

NSE: ZENTECBSE: 533339Aerospace & DefenseSmall Cap

Zen Technologies Limited · Face value ₹1 · Listed Mar 2011 on BSE, Mar 2015 on NSE
Last close ₹1,621.60up ₹52.80 (3.37%)BSE ₹1,621.20

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

52-week range of traded prices to 29 Oct 2026
₹1,223.00Low, 14 Jan 2026₹2,043.70High, 19 Aug 2026
Market cap
₹14,641 Cr466th largest listed
P/E
81.29
P/B
7.75
Dividend yield
0.06%
ROE
10.0%
ROCE
10.0%
Debt to equity
0.00
Volume, NSE
2,21,14334.7% delivered

Zen Technologies share price chart

Daily closes since Nov 2014, BSE closes Mar 2011 to Mar 2015, adjusted for splits and bonuses. Earlier closes are left out: on 21 Nov 2014 the price changed in a way no corporate action on record explains.

+19.1%over a year · Nifty Smallcap 250 −1.9% · Nifty 500 −8.4%

Results20-session average 2,50,941 shares a day, 37.9% 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
    Itemyear to Mar 2026year 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. 1. Annual report, 6 Aug 2026, page 4
  2. 2. Annual report, 6 Aug 2026, page 21
  3. 3. Annual report, 6 Aug 2026, page 15
  4. 4. Annual report, 6 Aug 2026, page 5
  5. 5. Annual report, 6 Aug 2026, page 6
  6. 6. Annual report, 6 Aug 2026, page 13
  7. 7. Annual report, 6 Aug 2026, page 5
  8. 8. Annual report, 6 Aug 2026, page 21
  9. 9. Annual report, 6 Aug 2026, page 162
  10. 10. Annual report, 6 Aug 2026, page 168
  11. 11. Annual report, 6 Aug 2026, page 22
  12. 12. Investor presentation, 26 Jul 2026, page 9
  13. 13. Annual report, 6 Aug 2026, page 21
  14. 14. Earnings call, 27 Jul 2026, page 3
  15. 15. Earnings call, 27 Jul 2026, page 4
  16. 16. Investor presentation, 26 Jul 2026, page 9
  17. 17. Annual report, 6 Aug 2026, page 21
  18. 18. Annual report, 6 Aug 2026, page 43
  19. 19. Annual report, 6 Aug 2026, page 44
  20. 20. Annual report, 6 Aug 2026, page 44
  21. 21. Annual report, 6 Aug 2026, page 162
  22. 22. Annual report, 6 Aug 2026, page 246
  23. 23. Investor presentation, 26 Jul 2026, page 11
  24. 24. Investor presentation, 26 Jul 2026, page 12
  25. 25. Exchange filing, 10 Aug 2026, page 1
  26. 26. Exchange filing, 10 Aug 2026, page 2
  27. 27. Exchange filing, 21 Jul 2026, page 1
  28. 28. Exchange filing, 21 Jul 2026, page 2
  29. 29. Annual report, 6 Aug 2026, page 247
  30. 30. Annual report, 6 Aug 2026, page 10
  31. 31. Annual report, 6 Aug 2026, page 4
  32. 32. Annual report, 6 Aug 2026, page 12
  33. 33. Annual report, 6 Aug 2026, page 6
  34. 34. Earnings call, 27 Jul 2026, page 4
  35. 35. Earnings call, 27 Jul 2026, page 5
  36. 36. Exchange filing, 17 Oct 2026, page 1
  37. 37. Exchange filing, 17 Oct 2026, page 3
  38. 38. Exchange filing, 3 Aug 2026, page 1
  39. 39. Annual report, 6 Aug 2026, page 255
  40. 40. Earnings call, 27 Jul 2026, page 3
  41. 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 months
−23.5%
Net profit growth, 12 months
−28.2%

Quarter to Jun 2026, against the quarter before

Revenue
₹103 Crup 43.19%
Net profit
₹29 Crup 98.07%
Net margin
28.4%

Revenue by quarter

₹242 CrSep 24₹142 CrDec 24₹293 CrMar 25₹111 CrJun 25₹125 CrSep 25₹116 CrDec 25₹72 CrMar 26₹103 CrJun 26
Peak revenue ₹293 Cr, quarter to Mar 2025; lowest ₹72 Cr, quarter to Mar 2026

Net profit by quarter, a loss in red

₹65 CrSep 24₹39 CrDec 24₹85 CrMar 25₹37 CrJun 25₹46 CrSep 25₹48 CrDec 25₹15 CrMar 26₹29 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue24214229311112511672103
Net profit6539853746481529
Net margin27.0%27.3%28.9%33.4%37.0%41.2%20.5%28.4%
Standalone. The last eight quarters. The latest is shaded.

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

Price to earnings

At or below today's level on 57% of 908 trading days over the last 5 years.

LowestHighest
Its median76.54Industry median62.36
Price to book

At or below today's level on 63% of 1,797 trading days since Nov 2018.

LowestHighest
Its median6.29Industry median8.56
Dividend yield

At or below today's level on 37% of 2,449 trading days over the last 10 years.

LowestHighest
Its median0.13%Industry median0.15%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend 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%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1 year is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Zen Technologies shareholding pattern

Shareholding by group

  • Promoters48.51%
  • Foreign institutions6.60%
  • Indian institutions10.76%
  • Individuals and others33.60%
  • Employee trusts0.52%
Holder
ASHOK ATLURIPromoter21.65%
KISHORE DUTT ATLURIPromoter16.33%
RAMA DEVI ATLURIPromoter2.96%
TARA DUTT ATLURIPromoter2.09%
SATISH ATLURIPromoter1.31%
ABHILASHA ATLURIPromoter1.11%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions +0.14 pts, Indian institutions +0.35 pts, mutual funds +0.16 pts.

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

Added
24
Cut
37
Held unchanged
9
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

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
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

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

Return on equity across, P/E up, size is market cap
Company
Garden Reach Shipbuilders & Engineers logoGarden Reach Shipbuilders & EngineersGRSE22,03127.528.39+39.6%+42.9%34.0%29.8%1.02%
Sigma Advanced Systems logoSigma Advanced SystemsSIGMAADV17,494–––––13.0%0.00%
Apollo Micro Systems logoApollo Micro SystemsAPOLLO15,665112.7410.31+77.1%+69.7%10.7%11.8%0.06%
Astra Microwave Products logoAstra Microwave ProductsASTRAMICRO14,98979.2911.40+4.0%+16.3%15.7%17.4%0.15%
Aequs logoAequsAEQUS14,624–10.50––−14.5%−5.7%0.00%
Paras Defence and Space Technologies logoParas Defence and Space TechnologiesPARAS10,716102.9313.91+41.7%+48.2%14.4%15.9%0.08%
AXISCADES Technologies logoAXISCADES TechnologiesAXISCADES8,502233.9911.69+4.6%−53.8%5.3%10.7%0.00%
Unimech Aerospace and Manufacturing logoUnimech Aerospace and ManufacturingUNIMECH8,44095.7610.57+40.0%+10.8%11.7%9.8%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

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

0.2Mar 170.1Mar 180.3Mar 190.4Mar 200.1Mar 210.1Mar 220.2Mar 231Mar 242Mar 251Mar 26
Highest ₹2.00 a share, year to Mar 2025.
Ex-dateTypePer share
21 Aug 2026Final₹1.00
14 Aug 2025Final₹2.00
6 Sep 2024Final₹1.00
8 Sep 2023Final₹0.20
21 Sep 2022Final₹0.10
18 Aug 2021Final₹0.10
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Zen Technologies announcements

Zen Technologies share price by year

Each calendar year to 2025.Zen Technologies share price history

YearClose at year endChangeHighest closeLowest close
20251,368.40−44.0%2,539.05972.00
20242,445.65+207.8%2,577.00706.20
2023794.60+331.3%868.00187.25
2022184.25−14.7%228.70150.85
2021216.00+140.0%245.5070.80
202090.00+59.4%95.7022.75
201956.45−28.0%85.3050.80
201878.40−48.1%153.6055.85
2017151.10+114.8%151.1047.55
201670.35−42.7%125.9055.75
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 20261,562.101,600.001,545.501,568.801,571.891,45,86533.4%
27 Oct 20261,559.901,614.001,546.901,562.401,585.962,36,40530.1%
26 Oct 20261,489.001,560.001,475.001,544.701,523.082,11,86435.7%
23 Oct 20261,555.101,562.201,463.001,493.801,487.194,22,70347.9%
22 Oct 20261,590.001,596.401,551.601,562.201,574.041,53,16136.8%
21 Oct 20261,625.001,625.001,561.101,613.501,594.962,24,08336.5%
19 Oct 20261,668.101,668.101,618.301,627.401,638.611,53,73131.6%
16 Oct 20261,698.001,698.001,641.501,655.601,668.491,92,10240.5%
15 Oct 20261,648.101,708.401,620.001,695.001,663.292,68,63844.5%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Buyback history

Ex-dateEventPrice factorWhat happened
17 Feb 2025Price 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 2014Price 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.
Where an event has no factor that can be worked out, the chart leaves out the closes before it. Any other event is noted and not adjusted for.

Company details

Chairperson and managing director
ASHOK ATLURI
At the end of the quarter to Sep 2026
Managing director
KISHORE DUTT ATLURI
At the end of the quarter to Sep 2026
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