Zen Technologies Q3 Results: Revenue jumps 3x, board approves ₹1,000 crore QIP


Smallcap defence company Zen Technologies Ltd. reported December quarter results, wherein its revenue grew by 3x compared to the same period last year.

The company reported revenue of ₹98 crore during the quarter, compared to the ₹32.93 crore it had reported during the same period last year. Even when compared to the September quarter, the company’s revenue grew by 53%.

Net profit for the period grew by nearly 5x to ₹31.66 crore, compared to ₹7.58 crore reported in the year-ago quarter.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at ₹44.22 crore from ₹8.35 crore last year, while margin expanded to 45% from 25.3% last year.

Additionally, the company’s board also approved raising funds worth up to ₹1,000 crore or an equivalent amount through a QIP or any other permissible mode or a combination thereof.

In an interaction with CNBC-TV18 in November last year, Ashok Atluri of Zen Technologies had said that the current order book for the company stood at ₹1,500 crore, of which, more than ₹400 crore were export orders.

Atluri also guided for the company to earn ₹900 crore in revenue along with EBITDA margin of 35% in financial year 2025. For the first nine months of financial year 2024, the company’s topline stood at ₹294 crore, a jump of 82% compared to ₹161 crore it earned during the first nine months of the previous financial year.

Shares of Zen Technologies had ended 3% higher on Thursday at ₹729. Although the stock is down 20% from its recent peak of ₹911, it has still risen 280% over the last 12 months.

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