Zen Technologies Q2 results: Net profit jumps four-times

Zen Technologies, a key player in aerospace and defense, has released its Q2 financial results. The company announced its earnings on Saturday (November 2), and analysts expect impacts on stock performance in Monday’s trading.

Profit surged from ₹15.3 crore last year to ₹62.6 crore this year, marking a 309% increase. Revenue rose from ₹66.5 crore to ₹241.8 crore, representing a 263% growth.

EBITDA jumped from ₹19 crore to ₹80 crore, while the profit margin improved to 33.1%, compared to 28.4% last year.

Based in Hyderabad, Zen Technologies specialises in anti-drone technology and defense training.

As of September 30, 2024, it reported an order book of ₹956.74 crore and raised ₹100 crore through a Qualified Institutional Placement (QIP) during the quarter.

The company’s stock has delivered over 160% returns in the past year, climbing from below ₹720 to over ₹1875.

Last month, Zen Technologies said it has secured an annual maintenance order from the defence ministry.

In a stock exchange filing, the company said it has signed an annual maintenance contract (AMC) worth ₹46 crore, including GST, with the ministry of defence. The contract covered the maintenance of simulators developed by Zen for a five-year period, the company informed the bourses.

Also, Zen Technologies, in collaboration with its subsidiary AI Turing Technologies, announced the launch of four cutting-edge remote-controlled weapon and surveillance systems, designed to transform defence capabilities.