Aerospace & Defense
Valuation | |
|---|---|
| Market Cap | 11.67 kCr |
| Price/Earnings (Trailing) | 46.88 |
| Price/Sales (Trailing) | 12.93 |
| EV/EBITDA | 27.81 |
| Price/Free Cashflow | -68.36 |
| MarketCap/EBT | 31.26 |
| Enterprise Value | 11.31 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -5.1% |
| Price Change 1M | -5.5% |
| Price Change 6M | -30.4% |
| Price Change 1Y | -49.1% |
| 3Y Cumulative Return | 88.4% |
| 5Y Cumulative Return | 67.3% |
| 7Y Cumulative Return | 50% |
| 10Y Cumulative Return | 26.8% |
| Revenue (TTM) |
| 902.88 Cr |
| Rev. Growth (Yr) | -20.5% |
| Earnings (TTM) | 271.39 Cr |
| Earnings Growth (Yr) | -2.4% |
Profitability | |
|---|---|
| Operating Margin | 41% |
| EBT Margin | 41% |
| Return on Equity | 14.76% |
| Return on Assets | 13.24% |
| Free Cashflow Yield | -1.46% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | -823.11 Cr |
| Cash Flow from Operations (TTM) | -146.27 Cr |
| Cash Flow from Financing (TTM) | 1.01 kCr |
| Cash & Equivalents | 369.62 Cr |
| Free Cash Flow (TTM) | -178.58 Cr |
| Free Cash Flow/Share (TTM) | -19.78 |
Balance Sheet | |
|---|---|
| Total Assets | 2.05 kCr |
| Total Liabilities | 210.78 Cr |
| Shareholder Equity | 1.84 kCr |
| Current Assets | 1.4 kCr |
| Current Liabilities | 179.34 Cr |
| Net PPE | 114.19 Cr |
| Inventory | 121.19 Cr |
| Goodwill | 75.1 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 29.08 |
| Interest/Cashflow Ops | -10.57 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 2 |
| Dividend Yield | 0.15% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 13.6% |
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Past Returns: Outperforming stock! In past three years, the stock has provided 88.4% return compared to 12.8% by NIFTY 50.
Profitability: Very strong Profitability. One year profit margin are 30%.
Smart Money: Smart money is losing interest in the stock.
Momentum: Stock is suffering a negative price momentum. Stock is down -5.5% in last 30 days.
Technicals: SharesGuru indicator is Bearish.
Balance Sheet: Strong Balance Sheet.
Size: Market Cap wise it is among the top 20% companies of india.
Past Returns: Outperforming stock! In past three years, the stock has provided 88.4% return compared to 12.8% by NIFTY 50.
Profitability: Very strong Profitability. One year profit margin are 30%.
Smart Money: Smart money is losing interest in the stock.
Momentum: Stock is suffering a negative price momentum. Stock is down -5.5% in last 30 days.
Technicals: SharesGuru indicator is Bearish.
Investor Care | |
|---|---|
| Dividend Yield | 0.15% |
| Dividend/Share (TTM) | 2 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 27.58 |
Financial Health | |
|---|---|
| Current Ratio | 7.82 |
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 46.8 |
| RSI (5d) | 31.73 |
| RSI (21d) | 47.57 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Hold |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal |
Summary of Zen Tech's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Management Outlook and Key Points:
Growth Strategy:
Financial Targets:
Order Pipeline:
Global Expansion:
R&D & New Products:
Margins & Costs:
Key Risks:
Long-Term Vision:
Become a global leader in anti-drone solutions and a one-stop training provider for armed forces.
Understand Zen Tech ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| ASHOK ATLURI | 21.65% |
| KISHORE DUTT ATLURI | 16.33% |
| MOTILAL OSWAL LONG TERM EQUITY FUND | 4.23% |
| RAMA DEVI ATLURI | 2.96% |
| TARA DUTT ATLURI | 2.09% |
| SATISH ATLURI | 1.31% |
| ARJUN DUTT ATLURI | 1.11% |
Detailed comparison of Zen Tech against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| KPRMILL | K.P.R. Mill | 28.32 kCr | 6.78 kCr | -15.40% | -14.40% | 33.82 | 4.17 | - | - |
| ALOKINDS | Alok Industries | 7.87 kCr | 3.84 kCr |
Comprehensive comparison against sector averages
ZENTEC metrics compared to Aerospace
| Category | ZENTEC | Aerospace |
|---|---|---|
| PE | 48.22 | 46.41 |
| PS | 13.30 | 9.62 |
| Growth | 19.5 % | 8.2 % |
Zen Technologies Limited, together with its subsidiary, designs, develops, manufactures, and sells training simulators in India and internationally. The company provides anti-drone systems; combat training simulation and war gaming solutions; armour combat training, indoor tracking, hand grenade simulator, and tactical engagement simulation systems; and digital beamforming solutions. It also offers mortar integrated and carrier mortar tracked, anti-aircraft air defense, anti-tank guided missile, artillery forward observer, automatic grenade launcher, infantry weapon training, UAV mission, rotary wing, medium machine gun, integrated air defense combat, combat weapons training, infantry combat vehicle driving, gunnery, crew gunnery, driving and automated driving, BMP II integrated missile, driver aptitude testing, advanced weapon, driving training, bus driving, and tatra driving simulators. In addition, the company provides containerized tubular and indoor shooting range, smart target, shoot house for live and simulated indoor tactical training, shootedge adapter for handguns, master control station for live-firing ranges, tank target and zeroing, air-to-ground firing range, corner shot weapon, tank zeroing, and multi-functional target systems. It serves police, paramilitary, armed, and security forces; government departments comprising transport, mining, and infrastructure; and the civilian markets. Zen Technologies Limited was incorporated in 1993 and is headquartered in Hyderabad, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
ZENTEC vs Aerospace (2021 - 2026)
Question 1:
"I mainly have two questions. The first question is we have been guiding for Rs.900 Crores revenue in FY2025 and we have already done around Rs.500 Crores in the first half so even if we do the same amount of revenue in half two then we will cross easily to Rs.1000 Crores, so any change in the FY2025 revenue guidance? The follow up question on that would be what is our FY2026? Can you give some colour on how our performance will be in FY2026 over FY2025?"
Answer Summary:
The company aims to exceed its FY2025 revenue guidance of Rs.900 Crores but remains cautious due to execution uncertainties. For FY2026, a 50% CAGR is projected over three years, supported by a robust order pipeline.
Question 2:
"My second question is about the order book. We did not get any order in Q2, so how should we look our order book in the second half of FY2025 and then in FY2026? Can you give us a split between our expected anti-drone system and our simulation system order book split in future? Also, can you please give some colour on the EBITDA margin front as to split between anti-drone system and the simulation system?"
Answer Summary:
Order inflows are expected in late Q3 and Q4 FY2025, targeting ~Rs.1,200 Crores. Order book split between simulators and anti-drone systems is projected at 40-60. Margins are impacted by product mix and R&D but consolidated EBITDA is guided at ~35%.
Question 3:
"In your opening remarks, you mentioned that right now you are present in the US market but not very active and you are looking for growth coming in or rather you are planning on expanding in that geography, so can you expand a little bit more as to what areas you are seeing opportunities in America? Are you planning to set up a manufacturing facility over there or just plain exports from here to US?"
Answer Summary:
Zen plans to establish US manufacturing (51% localization) to comply with "Make in America" policies, targeting North/South American markets. Products like anti-drone systems and simulators will leverage local supply chains, with a $10M capex budget.
Question 4:
"Regarding your new products Prahasta and Barbarik, we have been hearing a lot about them, so just wanted to understand whether they are being sent for testing and if anything further on that front has been done to commercialize these two products."
Answer Summary:
Prahasta (robotic dog) is under R&D refinement, while Barbarik (remote-controlled weapon station) has undergone army testing. Orders for Barbarik are expected in FY2026, with a broader market potential of ~$1B in India and globally.
Question 5:
"My question is generic. Given everything is becoming autonomous with AI, where human intervention may reduce, what do you think about the relevance of simulator training in the years to come?"
Answer Summary:
Autonomous systems still require human oversight, ensuring continued demand for training. Zen integrates AI into simulators and is developing autonomous solutions (e.g., robotic systems), anticipating no near-term disruption to its core business.
Question 6:
"Regarding acquisitions, you mentioned targeting Rs.100"“300 Crore deals. How do you mitigate the risk of failed acquisitions, given the high historical failure rates?"
Answer Summary:
Acquisitions focus on firms with strong IP and technical teams. Zen streamlines target portfolios to prioritize high-potential products, avoiding dilution risks. Promoters' significant equity stake aligns interests to minimize reckless decisions.
Question 7:
"Can you elaborate on the US strategy post-Trump's election and its impact on Zen's growth?"
Answer Summary:
Trump's policies are expected to prioritize domestic manufacturing and reduce bureaucracy, aiding Zen's US market entry. The company plans to leverage its IP and cost-efficient supply chain to compete with global players like Thales and Saab.
Question 8:
"What is the long-term vision for Zen in the next 5"“10 years?"
Answer Summary:
Zen aims to dominate global anti-drone solutions and expand into Navy/Air Force simulators via acquisitions and organic R&D. Targets include becoming a one-stop defense training provider and diversifying into asymmetric warfare technologies.
Question 9:
"How do you address margin fluctuations, especially with rising R&D costs and evolving product demands?"
Answer Summary:
Margin volatility stems from R&D investments and product customization. Zen prioritizes long-term product quality over short-term margins, offsetting costs via operating leverage. Export growth (higher margins) is expected to stabilize EBITDA at ~35%.
Question 10:
"What is the update on AI Turing's integration and its contribution to revenue?"
Answer Summary:
AI Turing (remote weapon stations/surveillance) is gaining traction globally. It complements anti-drone systems and is projected to drive significant orders in FY2026, with a $1B+ market opportunity in India alone.
| ABHILASHA ATLURI |
| 1.11% |
| ANISHA ATLURI | 1.11% |
| LOGICAL SOLUTIONS LIMITED | 1.05% |
| BEENA ATLURI | 0.5% |
| NAGARJUNUDU KILARU | 0.17% |
| INDIRA GARAPATI | 0.13% |
| NANDITA SETHI | 0.06% |
Distribution across major stakeholders
Distribution across major institutional holders
| -1.30% |
| -20.20% |
| -11.49 |
| 2.05 |
| - |
| - |
| 6.6% |
| 82 |
| 77 |
| 154 |
| 59 |
| 82 |
| 110 |
| Exceptional items before tax | - | 0.94 | 0 | 0 | 0 | 0 | 0 |
| Total profit before tax | 7.9% | 83 | 77 | 154 | 59 | 82 | 110 |
| Current tax | 5.3% | 21 | 20 | 44 | 17 | 22 | 29 |
| Deferred tax | -129.1% | 0.52 | 2.65 | -3.82 | -0.24 | -2.98 | 1.84 |
| Total tax | -9.1% | 21 | 23 | 40 | 17 | 19 | 31 |
| Total profit (loss) for period | 17.3% | 62 | 53 | 114 | 43 | 63 | 79 |
| Other comp. income net of taxes | -255.3% | -0.18 | 1.76 | -2.25 | -0.21 | -0.08 | -0.02 |
| Total Comprehensive Income | 13% | 62 | 55 | 112 | 42 | 63 | 79 |
| Earnings Per Share, Basic | 30.2% | 6.61 | 5.31 | 11.24 | 4.42 | 7.26 | 9.19 |
| Earnings Per Share, Diluted | 30.2% | 6.61 | 5.31 | 11.24 | 4.2 | 7.26 | 9.19 |
| 9.42 |
| 1.84 |
| 2.03 |
| 1.4 |
| 1 |
| 3.18 |
| Depreciation and Amortization | 42.4% | 10 | 7.32 | 4.38 | 3.73 | 3.99 | 3.75 |
| Other expenses | 65.3% | 120 | 73 | 47 | 29 | 20 | 28 |
| Total Expenses | 143.3% | 636 | 262 | 117 | 57 | 47 | 90 |
| Profit Before exceptional items and Tax | 93.9% | 352 | 182 | 52 | 2.14 | 5.68 | 59 |
| Exceptional items before tax | -170.9% | 0 | 2.41 | 2 | -0.28 | 0 | 0 |
| Total profit before tax | 91.8% | 352 | 184 | 54 | 1.86 | 5.68 | 59 |
| Current tax | 176.5% | 95 | 35 | 9.52 | 0.36 | 1.86 | 10 |
| Deferred tax | -134.8% | -5.62 | 20 | 6.77 | -0.52 | -0.28 | -12.16 |
| Total tax | 63% | 89 | 55 | 16 | -0.16 | 1.59 | -1.94 |
| Total profit (loss) for period | 104.7% | 263 | 129 | 38 | 2.02 | 4.1 | 61 |
| Other comp. income net of taxes | -55.8% | -1.43 | -0.56 | -0.13 | 0.02 | 0.1 | 0.02 |
| Total Comprehensive Income | 103.9% | 262 | 129 | 38 | 2.05 | 4.19 | 61 |
| Earnings Per Share, Basic | 99.1% | 30.09 | 15.61 | 4.75 | 0.25 | 0.52 | 7.84 |
| Earnings Per Share, Diluted | 99.1% | 30.09 | 15.61 | 4.58 | 0.25 | 0.52 | 7.84 |
| 182.7% |
| 8.21 |
| 3.55 |
| 14 |
| 10 |
| 0 |
| 1.92 |
| Investment property | - | 0 | 0 | 4.13 | 0 | 0 | 0.87 |
| Non-current investments | 9.2% | 238 | 218 | 26 | 26 | 24 | 24 |
| Total non-current financial assets | 49% | 624 | 419 | 30 | 52 | 102 | 27 |
| Total non-current assets | 40.1% | 745 | 532 | 134 | 143 | 178 | 111 |
| Total assets | 0.4% | 1,883 | 1,875 | 1,832 | 718 | 625 | 446 |
| Borrowings, non-current | -102.6% | 0 | 40 | 40 | 0 | 0 | 0 |
| Total non-current financial liabilities | -98.9% | 1.44 | 42 | 42 | 0.9 | 0.57 | 0.1 |
| Provisions, non-current | 56.3% | 4.33 | 3.13 | 3.67 | 3.05 | 2.39 | 2.29 |
| Total non-current liabilities | -79.5% | 10 | 45 | 50 | 10 | 3.11 | 2.39 |
| Borrowings, current | -109.1% | 0 | 12 | 17 | 0 | 0 | 5.84 |
| Total current financial liabilities | -32.2% | 62 | 91 | 63 | 43 | 28 | 19 |
| Provisions, current | -95.5% | 1.02 | 1.44 | 0 | 0 | 0.23 | 0 |
| Current tax liabilities | 33.9% | 3.45 | 2.83 | 8 | 6.96 | 6.97 | 0 |
| Total current liabilities | -19.3% | 114 | 141 | 218 | 255 | 236 | 125 |
| Total liabilities | -33% | 125 | 186 | 268 | 265 | 239 | 127 |
| Equity share capital | 0% | 9.03 | 9.03 | 9.03 | 8.4 | 8.4 | 7.95 |
| Total equity | 4.1% | 1,758 | 1,689 | 1,565 | 453 | 385 | 319 |
| Total equity and liabilities | 0.4% | 1,883 | 1,875 | 1,832 | 718 | 625 | 446 |
| -194% |
| -47.86 |
| 53 |
| 108 |
| -42.57 |
| - |
| - |
| Interest received | - | 0 | 0 | -0.11 | 0 | - | - |
| Income taxes paid (refund) | 212.9% | 98 | 32 | 8.7 | 1.24 | - | - |
| Net Cashflows From Operating Activities | -836.4% | -146.28 | 21 | 99 | -43.81 | - | - |
| Cashflows used in obtaining control of subsidiaries | 5850.2% | 192 | 4.21 | 0 | 0.25 | - | - |
| Proceeds from sales of PPE | - | 0.01 | 0 | 0.01 | 0 | - | - |
| Purchase of property, plant and equipment | 16% | 30 | 26 | 12 | 3.57 | - | - |
| Interest received | 501.8% | 48 | 8.81 | 6.4 | 3.77 | - | - |
| Other inflows (outflows) of cash | -1026.4% | -688.83 | -60.24 | 5.51 | -43.11 | - | - |
| Net Cashflows From Investing Activities | -940.5% | -862.41 | -81.98 | -2.69 | -43.16 | - | - |
| Proceeds from issuing shares | - | 980 | 0 | 0 | 87 | - | - |
| Proceeds from issuing other equity instruments | - | 0 | 0 | 0 | 2.5 | - | - |
| Payments to acquire or redeem entity's shares | -126.5% | 0 | 4.77 | 9.66 | 0 | - | - |
| Proceeds from exercise of stock options | - | 1.22 | 0 | 0 | 0 | - | - |
| Proceeds from borrowings | - | 51 | 0 | 0 | 0 | - | - |
| Repayments of borrowings | -120.7% | 0 | 5.84 | 6.4 | 0.07 | - | - |
| Payments of lease liabilities | 211% | 1.91 | 0.18 | 0 | 0 | - | - |
| Dividends paid | 1091% | 8.98 | 1.67 | 0.79 | 0.8 | - | - |
| Interest paid | 1248% | 4.37 | 1.25 | 1.55 | 0.9 | - | - |
| Other inflows (outflows) of cash | -115.4% | 0 | 7.5 | 0 | 0 | - | - |
| Net Cashflows from Financing Activities | 14191.5% | 1,017 | -6.21 | -18.4 | 87 | - | - |
| Net change in cash and cash eq. | 110.6% | 8.17 | -66.84 | 78 | 0.34 | - | - |