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DefenceSimulators & TrainingSubsystems
Zen Technologies
Combat simulators + anti-drone systems. 36-40% OPM, IP-led, but FY26 revenue declined 29% — order lumpiness is the core risk.
Order book · Anti-drone + simulator orders lumpy; FY26 slowdown
Hold / Watchlist
₹1,749
Mkt cap ₹15.8K Cr
P/E
81.9x
P/B
8.4x
ROCE
16.2%
ROE
10.7%
Div yield
0.06%
52W high
₹2,024
52W low
₹1,223
Promoter
48.5%
Score bridge (derived from real data)
Fundamental
78
Valuation
39
Technical
61
Moat (curated)
76
Fundamental = ROCE/ROE/OPM/growth/cash-conversion/leverage from Screener statements. Valuation = P/E, EV/EBITDA, P/B and distance-from-high. Technical = position in real 52-week range (full OHLCV indicators need a market-data API). Decision = weighted engine over all four.
52-week position
₹1,223now ₹1,749₹2,024
66/100
Technical rating B
Price · 2 years · SMA 50/200 · as of 2026-07-20
Strong UpMACD BearishGolden cross
RSI-14
RSI-14
45
vs SMA-50
0.1%
vs SMA-200
17.2%
1Y return
-8.2%
Ann. vol
38%
Max DD 1Y
-35%
Annual trend · sales, PAT, OPM
Quarterly run-rate
Financial statements
Source: Screener.inSales 3Y CAGR
46.5%
PAT 3Y CAGR
63.4%
OPM (latest)
36.0%
PAT margin
31.7%
D / E
0.01x
CFO / PAT
1.12x
EV / EBITDA
64.5x
FCF yield
0.5%
Ratio history · computed per year
| Ratio | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Sales growth YoY % | — | 212.9% | 100.9% | 121.4% | -29.4% |
| PAT growth YoY % | — | 1,566.7% | 160.0% | 130.0% | -27.1% |
| OPM % | 7% | 33% | 41% | 39% | 36% |
| PAT margin % | 4.3% | 22.8% | 29.5% | 30.7% | 31.7% |
| ROE % (PAT / net worth) | 1.1% | 15.8% | 29.0% | 17.6% | 11.5% |
| D / E (x) | 0.05 | 0.02 | 0.01 | 0.05 | 0.01 |
| Asset turnover (x) | 0.19 | 0.46 | 0.59 | 0.48 | 0.32 |
| CFO / PAT (x) | -14.67 | 2.32 | 0.10 | -0.49 | 1.12 |
Annual P&L · ₹ Cr
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales | 70 | 219 | 440 | 974 | 688 |
| Operating profit | 5 | 73 | 181 | 382 | 245 |
| OPM % | 7% | 33% | 41% | 39% | 36% |
| Net profit | 3 | 50 | 130 | 299 | 218 |
| EPS ₹ | 0.25 | 5.38 | 15.22 | 31.04 | 21.43 |
Quarterly · ₹ Cr
| Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|
| Sales | 158 | 174 | 178 | 178 |
| OPM % | 41% | 37% | 37% | 28% |
| PAT | 53 | 62 | 56 | 47 |
Balance sheet · ₹ Cr
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity | 8 | 8 | 8 | 9 | 9 |
| Reserves | 275 | 308 | 440 | 1,692 | 1,880 |
| Borrowings | 15 | 7 | 6 | 78 | 19 |
| Total assets | 369 | 474 | 750 | 2,049 | 2,160 |
Cash flow · ₹ Cr
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Operating | -44 | 116 | 13 | -146 | 245 |
| Investing | -44 | -4 | -85 | -823 | -162 |
| Financing | 88 | -22 | -3 | 1,007 | -78 |
Shareholding
Promoters
48.5%
FII
6.5%
DII
10.4%
Public
34.2%
Mkt cap
₹15.8K Cr
P/E
81.9x
52W range
₹1,223–2,024