Zen Technologies rallies 2% on winning Rs 123.3-crore defence deal

The share touched a 52-week high of Rs 912.55 and a 52-week low of Rs 175.50 on 17 August, 2023 and 23 December, 2022, respectively.

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Shares of Zen Technologies traded 2 percent higher at Rs 840 early on September 5 on the back of winning a Rs 123.3-crore order from the defence ministry.

“As of June 30, our order book amounted to Rs 542 crore. During the current quarter, we’ve secured orders worth Rs 733 crore, raising our total order book to Rs 1,275 crore (excluding tax),” the company said.

The orders included Training Simulators worth Rs 590.96 crore, Counter Drone System worth Rs 456.11 crore and Services (Including AMC) worth Rs 228.25 crore.

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On August 31, the company had received a Rs 72.29-crore order from the defence ministry.

The company had posted a 532 percent surge in its consolidated net profit for the quarter ended June 2023 at Rs 47.08 crore and revenue from operations spiked 257 percent to Rs 132.45 crore.

Zen Technologies is a provider of military training and counter-drone solutions. The company specialises in manufacturing state-of-the-art land-based military training simulators, driving simulators, live range equipment, and counter-drone systems.

The share touched a 52-week high of Rs 912.55 and a 52-week low of Rs 175.50 on August 17, 2023 and December 23, 2022, respectively. The stock is trading 8.19 percent below its 52-week high and 377.38 percent above its 52-week low.