Arms manufacturing company, Zen Technologies’ share prices touched a 52 week high of Rs.107.75, up by 12% on BSE on Friday. The company’s share prices surged almost 30% in the last three days.
At 10:15 am, it was trading 7.2 per cent higher at Rs 103.20 while it declined 0.38 per cent on S&P BSE Sensex.
Zen Technologies provide a wide range of defence services like land-based training simulators, anti-drone systems, live ranges, and virtual simulators.
“Anti-drone systems, drones, and training solutions will continue to be the core business of Zen Technologies and the company has all the simulators required for the legacy equipment used by the Indian Army,” The company said in the annual report for FY21.
The company reported a net profit of Rs. 4.09 crores in FY21 compared to Rs. 60.52 Crores FY 2019-2020. Zen also has an order book of Rs. 192.67 Crores as of 31st March 2021 compared with Rs. 160.79 crores as of 31st March 2020.
The company reported considerably low sales in FY21, as against FY20. “A decline in sales due to a series of lockdown and disruption in supply chain led to lower sales which further resulted in a decline in operating profit net profit margins and consequent decline in return on net worth,” the company said in the report.