Zen Technologies Ltd.
Zen Technologies Limited, together with its subsidiaries, engages in the design, development, manufacture, and sale of training simulators in India and internationally. The company provides anti-drone systems; training and simulation live ranges, comprising smart and multi-functional target systems, tank targets, master control station for live-firing ranges, air-to-ground firing range scoring system, containerized tubular and indoor shooting range, shoot house for live and simulated indoor tactical training, special purpose adapter for hand guns, cornershot weapon system, tank zeroing system, and containerized small arms firing range; armour combat training, indoor tracking, hand grenade simulator, and tactical engagement simulation systems; advanced weapon, medium machine gun, automatic grenade launcher, mortar integrated and carrier mortar tracked integrated, anti-tank guided missile, combat and infantry weapons training, artillery forward observers, integrated air defence, UAV mission, rotary wing, infantry combat vehicle driving, crew gunnery, gunnery, driving, BMP II integrated missile, driving training, automated driving, and bus and tatra driving simulators; and driving aptitude testing system. It serves police, paramilitary, armed, and security forces; government departments comprising transport, mining, and infrastructure; and the civilian markets. Zen Technologies Limited was incorporated in 1993 and is headquartered in Hyderabad, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Sep has averaged the highest return (+19.0%); Jan the lowest (-3.6%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +3.4%Positive MonthJan 2026: +3.41% | -3.9%Negative MonthFeb 2026: -3.94% | -6.0%Negative MonthMar 2026: -5.99% | +30.8%Positive MonthApr 2026: +30.78% | -0.3%Neutral MonthMay 2026: -0.31% | +6.5%Positive MonthJun 2026: +6.51% | -8.3%Negative MonthJul 2026: -8.34% | +15.2%*Positive MonthAug 2026: +15.17% | β | β | β | β |
| 2025 | -28.8%Negative MonthJan 2025: -28.82% | -39.9%Negative MonthFeb 2025: -39.93% | +41.3%Positive MonthMar 2025: +41.29% | -4.0%Negative MonthApr 2025: -3.97% | +50.2%Positive MonthMay 2025: +50.18% | -7.0%Negative MonthJun 2025: -6.97% | -26.2%Negative MonthJul 2025: -26.17% | -0.3%Neutral MonthAug 2025: -0.28% | -1.8%Neutral MonthSep 2025: -1.82% | -5.3%Negative MonthOct 2025: -5.32% | +3.7%Positive MonthNov 2025: +3.66% | -2.7%Negative MonthDec 2025: -2.68% |
| 2024 | +5.6%Positive MonthJan 2024: +5.60% | +2.9%Positive MonthFeb 2024: +2.86% | +10.4%Positive MonthMar 2024: +10.44% | +16.5%Positive MonthApr 2024: +16.53% | -13.3%Negative MonthMay 2024: -13.27% | +22.0%Positive MonthJun 2024: +22.02% | +44.9%Positive MonthJul 2024: +44.90% | -0.7%Neutral MonthAug 2024: -0.70% | +1.3%Neutral MonthSep 2024: +1.25% | +9.7%Positive MonthOct 2024: +9.71% | +0.8%Neutral MonthNov 2024: +0.75% | +28.9%Positive MonthDec 2024: +28.94% |
| 2023 | +9.3%Positive MonthJan 2023: +9.25% | +30.9%Positive MonthFeb 2023: +30.94% | +24.3%Positive MonthMar 2023: +24.26% | -11.1%Negative MonthApr 2023: -11.11% | +28.0%Positive MonthMay 2023: +27.99% | +12.2%Positive MonthJun 2023: +12.17% | +47.7%Positive MonthJul 2023: +47.70% | +35.6%Positive MonthAug 2023: +35.61% | -8.6%Negative MonthSep 2023: -8.59% | -4.8%Negative MonthOct 2023: -4.77% | +5.9%Positive MonthNov 2023: +5.91% | +3.1%Positive MonthDec 2023: +3.14% |
| 2022 | -7.5%Negative MonthJan 2022: -7.45% | -1.0%Neutral MonthFeb 2022: -0.98% | +3.4%Positive MonthMar 2022: +3.44% | -5.1%Negative MonthApr 2022: -5.08% | -4.7%Negative MonthMay 2022: -4.71% | -6.6%Negative MonthJun 2022: -6.56% | +1.3%Neutral MonthJul 2022: +1.33% | +19.5%Positive MonthAug 2022: +19.48% | -7.4%Negative MonthSep 2022: -7.35% | +4.3%Positive MonthOct 2022: +4.33% | -4.5%Negative MonthNov 2022: -4.54% | -4.7%Negative MonthDec 2022: -4.66% |
| 2021 | β | β | β | β | β | +25.1%Positive MonthJun 2021: +25.09% | +3.8%Positive MonthJul 2021: +3.85% | +2.8%Positive MonthAug 2021: +2.75% | +111.3%Positive MonthSep 2021: +111.33% | +2.4%Positive MonthOct 2021: +2.39% | -2.4%Negative MonthNov 2021: -2.43% | +5.4%Positive MonthDec 2021: +5.37% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 6 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ931.00 Cr | β | βΉ263.00 Cr | β | β | 15.6% | 116.5% | 103.9% |
| Mar 2024 | βΉ430.00 Cr | β | βΉ129.00 Cr | β | β | 28.5% | 167.1% | 239.5% |
| Mar 2023 | βΉ161.00 Cr | β | βΉ38.00 Cr | β | β | 11.9% | 198.1% | 1800.0% |
| Mar 2022 | βΉ54.00 Cr | β | βΉ2.00 Cr | β | β | 0.7% | 8.0% | -50.0% |
| Mar 2021 | βΉ50.00 Cr | β | βΉ4.00 Cr | β | β | 1.9% | -66.0% | -93.4% |
| Mar 2020 | βΉ147.00 Cr | β | βΉ61.00 Cr | β | β | 30.7% | 59.8% | 221.1% |
| Mar 2019 | βΉ92.00 Cr | β | βΉ19.00 Cr | β | β | 13.5% | 135.9% | β |
| Mar 2018 | βΉ39.00 Cr | β | βΉ0.00 | β | β | 0.0% | -37.1% | -100.0% |
| Mar 2017 | βΉ62.00 Cr | β | βΉ7.00 Cr | β | β | 5.8% | 17.0% | 250.0% |
| Mar 2016 | βΉ53.00 Cr | β | βΉ2.00 Cr | β | β | 1.8% | -32.9% | -87.5% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Net Sales | 46 | 79 | 53 | 62 | 39 | 92 | 147 | 50 | 54 | 161 | 430 | 931 | 671 |
| Total Expenses | 46 | 58 | 48 | 50 | 41 | 70 | 83 | 42 | 52 | 110 | 253 | 617 | 460 |
| EBIT / Operating Profit | 1 | 21 | 4 | 12 | -2 | 23 | 64 | 8 | 2 | 51 | 177 | 314 | 211 |
| OPM % | 1% | 27% | 8% | 19% | -5% | 24% | 43% | 16% | 4% | 32% | 41% | 34% | 31% |
| Other Income | 4 | 3 | 5 | 4 | 4 | 3 | 2 | 3 | 5 | 9 | 16 | 58 | 89 |
| Finance Costs | 2 | 2 | 2 | 3 | 2 | 5 | 3 | 1 | 1 | 2 | 2 | 9 | 8 |
| Depreciation & Amortisation | 2 | 2 | 4 | 4 | 3 | 4 | 4 | 4 | 4 | 4 | 7 | 10 | 12 |
| Profit Before Tax | 0 | 20 | 3 | 9 | -3 | 17 | 59 | 6 | 2 | 54 | 184 | 352 | 280 |
| Tax % | 18% | 21% | 21% | 20% | -86% | -13% | -3% | 28% | -9% | 30% | 30% | 25% | - |
| Net Profit / PAT | 0 | 16 | 2 | 7 | 0 | 19 | 61 | 4 | 2 | 38 | 129 | 263 | 207 |
| EPS (βΉ) | 0.01 | 2.04 | 0.30 | 0.96 | -0.05 | 2.49 | 7.84 | 0.52 | 0.25 | 4.73 | 15.38 | 29.12 | 22.91 |
| Dividend Payout % | 858% | 2% | 33% | 16% | -198% | 12% | 5% | 19% | 39% | 4% | 6% | 7% | - |
Peer Comparison
Technology sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| Zen Technologies Ltd.this co. | βΉ11.16 K Cr | βΉ931.00 Cr | 53.90 | 6.34 | 57.18 | 116.5% |
| Bharti Airtel Ltd. | βΉ12.19 L Cr | βΉ1.09 L Cr | 50.40 | 8.31 | 27.19 | 15.8% |
| Tata Consultancy Services Ltd. | βΉ11.84 L Cr | βΉ2.15 L Cr | 24.20 | 13.91 | 18.91 | 6.2% |
| Infosys Ltd | βΉ6.48 L Cr | βΉ1.37 L Cr | 24.20 | 7.17 | 16.31 | 5.9% |
| HCL Technologies Ltd | βΉ4.52 L Cr | βΉ51.10 K Cr | 36.80 | 14.48 | β | 6.2% |
| Bharat Electronics Ltd. | βΉ3.02 L Cr | βΉ23.66 K Cr | 53.30 | 14.23 | 51.32 | 17.3% |
| Wipro Ltd. | βΉ2.77 L Cr | βΉ67.29 K Cr | 23.00 | 4.29 | 18.85 | 0.8% |
| Industry Average | β | βΉ10.05 K Cr | 69.99 | 8.58 | 66.75 | 22.0% |
