Zen Tech shares rise after winning order worth ₹108 crore from defence ministry

Zen Technologies Ltd. on Tuesday, November 25, said it has won an order worth ₹108 crore from the ministry of defence.

The contract is for the supply of simulators. It is to be executed within a year.

Earlier this month, it won two orders, collectively worth ₹289 crore, from the ministry for the upgradation of its anti-drone systems (ADS). The projects are to be completed within a year.

Zen tech said the upgrades directly address operational feedback from Operation Sindoor and other frontline missions, where evolving drone threats underscored the urgent need for systems that can be swiftly adapted at both hardware and software levels.

Zen Tech reported a weak performance in its second quarter earnings last month, with the decline largely attributed to delays in procurement due to other military priorities under Operation Sindoor. However, its management maintained that long-term revenue visibility remains strong.

The company's revenue declined 28%, while its earnings before interest, tax, depreciation and amortisation (EBITDA) fell 19.5%. However, its margins were aided by lower manufacturing costs. Its adjusted profit after tax fell 4% to ₹61 crore. Despite the weak headline numbers, the company managed to beat estimates on revenue, EBITDA and profit after tax (PAT).

Zen Tech shares were up 1.2% at ₹1,400 apiece around 12 pm on Tuesday. The stock has declined 43.6% this year, so far.

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