Introduction: The share price of this aerospace and defence firm hit 5 percent upper circuit to an intraday high of Rs 1,362 per share after the company launched 4 new AI-powered robots for the global defence market in collaboration with its subsidiary.
Share price movement: With a market capitalization of Rs 11,446.83 crores, the shares of Zen Technologies Limited hit 5 percent upper circuit trading at Rs 1,362 apiece on Monday’s afternoon session. The shares of this company generated a multi-bagger return of 124 percent over the past year and 78.64 percent over the past 6 months.
What happened: According to the Zen Technologies Limited stock exchange filings, the company announced that they have launched 4 new AI-powered robots namely the Hawkeye, Barbarik, Prahasta, and the Sthir Stab 640 for the global defence market in collaboration with its Subsidiary AI Turing Technologies.
Zen Technologies’ Chairman and Managing Director Ashok Atluri commented, “These innovations represent a significant advancement in autonomous defence operations. We believe the launch of these products will raise awareness around the need to integrate advanced robotics into combat and reconnaissance missions”
Financials: Reviewing the financials of Zen Technologies Limited on a year-on-year basis, the revenues rose by 100 percent from Rs 219 crores in FY23 to Rs 440 crores in FY24. In the same time frame, the net profits also increased from Rs 50 crores to Rs 130 crores, demonstrating a 160 percent increase.
EBITDA and Borrowings: The EBITDA of Zen Technologies Limited rose by 228 percent from Rs 58.33 crores in FY23 to Rs 191.16 crores in FY24. As for the borrowings, it decreased by 71.4 percent from Rs 7 crores to Rs 2 crores for the same time frame.
Revenue segmentation: In the year 2024, revenue segmentation showed Rs 80.11 crores from exports and Rs 316.95 crores from domestic sales.
Order Book: As of March 31, 2024, Zen Technologies Limited’s total order book stood at Rs 1,401.97 crores, with the Annual Maintenance Contract (AMC) order book at Rs 261.89 crores and the Equipment order book at Rs 1,140.08 crores.
Shareholding Pattern: As of June 2024, Zen Technologies Limited’s shareholding pattern stood at 55.07 percent for promoters, 37.94 percent for the public, 3.09 percent for foreign institutional investors, and 3.37 percent for domestic institutional investors. For the public, the shares increased from 37.77 percent in March 2024 to 38.47 percent in June 2024.
About the Company: Incorporated in 1996, Zen Technologies Limited designs, develops, and manufactures combat training solutions and Counter-drone solutions for defence and security forces. The company is headquartered in Hyderabad, India with offices in India, UAE, and the USA.
Written By Zahal
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