Zen Tech confirms order booking worth Rs 202 crore after strong Q1 net profit growth

Zen Tech confirms order booking worth Rs 202 crore, cumulative revenue surpasses a decade's turnover

Zen Technologies , a provider of military training and anti-drone solutions, has confirmed a fresh order booking of Rs 202 crore, making their cumulative order booking worth to Rs 1,000 crore, the company said in a regulatory filing.

At 9.26 am, shares of Zen Technologies was trading in the green, up by 9.99 percent at Rs 674.75 apiece on the on BSE.

"During this quarter, we secured new orders amounting to approximately Rs 202 crore. Additionally, in July 2023, we bagged orders worth around Rs 500 crore. This brings our cumulative order book position to Rs 1,000 crore, a figure that exceeds the cumulative turnover of the last whole decade," it said.

“Zen Technologies' performance for Q1FY24 has set a new record for us in terms of revenue and profitability. This strong performance in the quarter was driven by the successful execution of a significant part of the simulation export and domestic anti-drone orders. The inherent operating leverage of our business model came to the fore this quarter, evident in EBITDA of 51 percent," said, Ashok Atluri, Chairman and Managing Director of Zen Technologies.

Growth Prospects

Zen Technologies' has set strategic priorities. One of them is to grow the sales of equipment and expand the product portfolio with a strong focus on emerging space AntiDrone systems. The Company plans on scaling the AMC business. It will also establish the Demo centre overseas and focus on export markets to expand its international presence.
The Company, in its presentation, also disclosed that it is evaluating tie-ups with OEMs.