Zen Technologies Ltd, a Hyderabad-based defence technology company, is one of India’s most watched mid-cap defence stocks in 2025. The company develops combat training simulators, drones, and defence solutions, and its growth aligns with India’s Atmanirbhar Bharat push.
Investors are interested in Zen because it shows strong financial growth, low debt, and a rising order book, while traders track it for its momentum and sector buzz. Let’s break down Zen’s numbers in a simple, screener-based view.
Stock Snapshot (as of 12 September 2025)
| Metric | Value |
|---|---|
| NSE Price | ₹1,470.40 |
| BSE Price | ₹1,462.80 |
| Day’s Range | ₹1,459 – ₹1,474 |
| 52-Week Range | ₹945 – ₹2,627 |
| Market Cap | ₹13,300+ Cr |
| P/E Ratio (TTM) | ~53x |
| P/B Ratio | 7.7x |
| ROE | 26% |
| Debt/Equity | 0.03 (Very Low) |
| Dividend Yield | 0.14% |
What These Numbers Mean
- Price: Currently around ₹1,470 on NSE; it moves during the day with trading activity.
- 52-Week Range: The stock has been highly volatile, from ₹945 lows to ₹2,627 highs in the past year.
- Valuation:
- P/E of 53x means the stock is priced high compared to its earnings, reflecting growth expectations.
- P/B of 7.7x shows the market is valuing its assets at a premium.
- Profitability: ROE at 26% is strong, showing efficient use of capital.
- Debt Level: Almost debt-free, which reduces financial risk.
- Dividend: Very small yield, meaning the company reinvests profits for growth.
| Indicator | Value | Signal |
|---|---|---|
| RSI | 58 | Neutral–Bullish |
| MACD | Positive | Buy Signal |
| Volume | Above Avg | Accumulation |
| Company | Market Cap (₹ Cr) | P/E | ROE |
|---|---|---|---|
| Zen Technologies | 13,300+ | 53x | 26% |
| Data Patterns | 14,500+ | 36x | 16% |
| Paras Defence | 7,800+ | 42x | 14% |
Annual Results — Zen Technologies (₹ Cr)
Standalone view • Mar 2021 → Mar 2025
| (₹ Cr) | Mar ’21 | Mar ’22 | Mar ’23 | Mar ’24 | Mar ’25 |
|---|---|---|---|---|---|
| Sales | 49.57 | 53.71 | 161.44 | 430.28 | 930.67 |
| Other Income | 2.91 | 5.28 | 7.05 | 13.93 | 57.78 |
| Operating Profit | 10.67 | 7.28 | 58.33 | 191.16 | 371.51 |
| Interest | 1.00 | 1.40 | 2.03 | 1.84 | 9.42 |
| Depreciation | 3.99 | 3.73 | 4.38 | 7.32 | 10.09 |
| Taxation | 1.59 | -0.16 | 16.29 | 55.18 | 89.04 |
| Net Profit / Loss | 4.10 | 2.02 | 37.64 | 129.23 | 262.95 |
Recent Highlights
- Q4 FY25 Results: Net profit jumped 189% YoY to ₹101 crore. Dividend announced at ₹2 per share.
- Stock Reaction: In May 2025, shares hit a 5% upper circuit post strong earnings.
- Strategic Expansion: Acquired 55% stake in TISA Aerospace to expand into drones.
- Brokerage Call: Antique Stock Broking gave a Buy rating with a target price of ₹1,866 (31% upside from current).
Zen Technologies Results (₹ Cr)
Verified with NSE/BSE; reference: DSIJ • Switch tabs to view Quarterly / Annual
| (₹ Cr) | Sep ’23 | Dec ’23 | Mar ’24 | Jun ’24 | Sep ’24 | Dec ’24 | Mar ’25 | Jun ’25 |
|---|---|---|---|---|---|---|---|---|
| Sales | 64.03 | 98.08 | 135.71 | 253.96 | 241.69 | 141.52 | 293.50 | 111.06 |
| Other Income | 4.79 | 4.18 | 2.33 | 3.05 | 8.43 | 21.96 | 24.36 | 19.89 |
| Operating Profit | 26.55 | 48.41 | 47.41 | 106.24 | 87.84 | 58.69 | 118.74 | 57.94 |
| Interest | 0.45 | 0.41 | 0.63 | 1.02 | 2.07 | 2.73 | 3.61 | 1.38 |
| Depreciation | 1.77 | 1.94 | 2.15 | 2.24 | 2.32 | 2.60 | 2.94 | 3.07 |
| Taxation | 7.00 | 14.39 | 13.99 | 28.81 | 18.22 | 14.75 | 27.27 | 16.36 |
| Net Profit / Loss | 17.34 | 31.67 | 33.03 | 74.18 | 65.24 | 38.62 | 84.92 | 37.12 |
Zen Technologies continues to stand out as one of India’s most promising defence-tech stocks, supported by solid fundamentals, strong institutional interest, and consistent profit growth. While valuations remain on the higher side, the company’s low debt, robust order pipeline, and government focus on indigenous defence provide long-term comfort. Short-term traders can track the stock around the ₹1,450–₹1,550 levels, while long-term investors may see it as a growth play in a sunrise sector. With both opportunity and volatility in play, Zen remains a stock to watch closely on every screener.
Broker Report — Zen Technologies
Latest calls from Motilal Oswal Securities
| Tips (Reco Date) |
Reco Price | CMP (Returns) |
Target Price | Broker / Analyst | Investment Logic |
|---|---|---|---|---|---|
| HOLD (28 Jul 2025) | ₹1,691.00 | ₹1,487.95 (-12.01%) | ₹1,650.00 | Motilal Oswal Securities | View |
| HOLD (19 May 2025) | ₹1,885.00 | ₹1,487.95 (-21.06%) | ₹1,750.00 | Motilal Oswal Securities | View |
| BUY (29 Jul 2024) | ₹1,609.00 | ₹1,487.95 (-7.52%) | ₹1,820.00 | Motilal Oswal Securities | View |
Zen Technologies is not just another mid-cap—it’s a niche defence-tech stock with:
- Strong fundamentals (high ROE, low debt)
- Technical momentum (positive MACD, steady RSI)
- Sector tailwinds (defence reforms, Make in India)
This mix attracts both long-term investors and short-term traders.
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