The Leading small-cap closed up 0.07 percent of Rs 756 from its previous close of Rs 755.45 after the company announced for memorandum of understanding with the government of Goa.
Zen Technologies Limited declared that it would be expanding its business by building a brand-new, cutting-edge manufacturing and research and development (R&D) facility in Goa, India.
The new facility, which will be located at the Electronic Manufacturing Cluster (EMC) Tuem, Goa, is anticipated to employ about 800 people and will require an investment of up to ₹50 crores.
The company has reported its net revenue rose 99 percent year on year from Rs 33.41 crores in Q2FY23 to Rs 66.5 crores in Q2FY24. On a quarter-on-quarter basis, their revenue increased 402 percent from Rs 13.24 crore in Q1FY24 to current levels.
In addition, net profit rose 78 percent year on year, from Rs 7.63 crores in Q2FY23 to Rs 13.63 crores in Q2FY24. On a sequential basis, their net profit rose by 72 percent from Rs 48.44 crores in Q1FY24 to current levels.
The company’s promoters hold a 57.45 percent stake in the company, with 4.84 percent owned by foreign institutional investors, 37.56 percent owned by the general public, and 0.15 percent owned by domestic institutional investors.
Zen Technology Limited is a small-cap company with a market capitalization of Rs 6,350 crores. It also has a return on equity (ROE) of 16 percent and a return on capital employed (ROCE) of 24 percent.
Zen Technology Limited’s share price has increased by 303 percent year to date and by 116% during the last half of a year. For example, if an investor invested Rs 1 lakh a year ago, the current value is Rs 4.04 Lakhs.
Zen Technologies Limited was founded in 1993 and is a pioneer in the provision of Counter-Drone, vital infrastructure, and other areas. It also designs, develops, and produces cutting-edge Combat Training Solutions for the training of Defense & Security Forces worldwide.
Written by Sriram KV
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