Thus far in the calendar year 2023, the stock of India’s leading anti-drone technology and defense training solutions provider has zoomed 93 per cent, as compared to a less than 1 per cent rise in the S&P BSE Sensex.
Zen Technologies is engaged in indigenous design, development and manufacture of sensors and simulators technology based defence training systems, drones and anti-drones solutions and has relentlessly been providing defence training solution and seamless services to Ministry of Defence (Armed Forces), Security Forces Police and Para-military forces.
Zen Technologies today said its board approved the allotment of 4.06 million equity shares of Re 1 each on conversion of compulsorily convertible debentures (CCDs) to the holders of CCDs belonging to public category. The board also approved the allotment of 469,333 equity shares on conversion of convertible warrants to the holders of warrants belonging to promoter category.
The company will allot more than 1 million equity shares to University of Notre Dame DU LAC (1.41 million) and investor Mukul Mahavir Agrawal (1.13 million). CLICK HERE FOR NAME OF ALLOTTEE
Meanwhile, for the financial year 2023 (FY23), Zen Technologies reported a robust earnings, with standalone profit after tax (PAT) zooming 1,763 per cent year-on-year (YoY) to Rs 37.64 crore. The company had posted PAT of Rs 2.02 crore in FY22.
Revenue grew 201 per cent YoY to Rs 161.44 crore. Earnings before interest, tax, depreciation and amortisation (ebitda) improved substantially to 34.62 per cent in FY23 from 12.34 per cent in FY22.
As on March 31, 2023, the company has orders in hand of around Rs 473 crore. The management said the company has placed bids for substantial orders and expects the results to be out by H1 of FY24.
The management anticipates a few order wins under the emergency procurement plan, which will further accelerate the company’s growth. It is also optimistic about the promising prospects of the export market.
First Published: May 25 2023 | 3:00 PM IST