Zen Technologies experienced a 5% uptick, hitting an intraday high of ₹762.30, as the defence company disclosed robust financial results for Q3. Notably, the net profit for the October-December period soared nearly fivefold, reaching ₹31.66 crore, compared to ₹7.58 crore reported in the same period last year. The company’s revenue witnessed a substantial surge, reaching ₹98 crore for the quarter, showcasing a remarkable increase from ₹32.93 crore reported in the corresponding period last year. Sequentially, the revenue exhibited a notable 53% jump. The EBITDA for the quarter stood at ₹44.22 crore, compared to ₹8.35 crore in the previous year, with the margin expanding significantly to 45% from 25.3% last year.
In response to its positive performance and to fuel future endeavors, Zen Technologies’ board approved raising funds of up to ₹1,000 crore through a Qualified Institutional Placement (QIP) or any other permissible mode. This capital infusion aims to provide Zen Technologies with the necessary financial resources to pursue its growth objectives, invest in research and development, and capitalize on emerging opportunities in the defence sector.
Zen Technologies has had an impressive run at the bourses over the last 12 months, surging over 280%. Mukul Agrawal, a prominent stakeholder with a 1.34% ownership in the company, has been backing Zen Technologies, contributing to its successful journey in the market.
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Zen Technologies