In intraday trading on Wednesday, shares of Zen Technologies, a leading provider of anti-drone technology and defense training solutions, rose 8% to Rs 319.50 on the BSE.
The small-cap aerospace and defense company’s stock has increased 73% thus far in 2023, while the S&P BSE Sensex has decreased 6%.
Defense training solutions and seamless services are continuously provided to the Ministry of Defense (Armed Forces), Security Forces Police, and Paramilitary Forces by Zen Technologies, which is engaged in indigenous design, development, and manufacturing of sensor and simulator technology-based defense training systems. Driving simulators, live range equipment, anti-drone systems, and land-based military training simulators are all manufactured by the company.
Zen Technologies announced on March 24 that it had received 127 crore rupees worth of new orders. As of December 31, 2022, the company’s order book position was Rs 404.44 crore.
The organization said it accepts the following couple of years will be very certain, and it hopes to sign a few additional critical agreements sooner rather than later. Harmony accepts that it will assume a fundamental supporting part in the public authority’s endeavors to modernize the renowned Agneepath drive and preparing.
“We expect to win some major orders on the order book due to our aggressive participation in various defense events. Likewise, we hope to win a few additional huge orders from the forceful obtainment being finished by the Public authority of India (GoI),” said Jain declaring its Q3 results on January 28.
India’s government has prepared a number of measures with strict implementation dates. The government’s special focus on the Make in India initiative and the Atmanirbhar Bharat campaign has made it easier for the defense industry to make things in India. It ought to propel us forward with a powerful tailwind.
The organization said the Middle has arranged a few measures with severe execution courses of events, including Rs 52,000 crore dispensed for hardware obtainment from the homegrown protection industry and a product focus of Rs 35,000 crore by 2025.
In the meantime, Zain had reported strong earnings for the quarter that ended in December 2022 (Q3FY23), with a consolidated profit after tax (PAT) of Rs 11.94 crore, compared to Rs 0.22 crore for the same period last year. The harm has been done. From Rs 16.26 crore, sales increased three times to Rs 52.48 crore. From 11.19 percent in Q3FY22, the EBITDA (earnings before interest, taxes, depreciation, and amortization) margin increased to 34.27 percent.
The positive growth that was reported by both the AMC and Equipment business verticals contributed to the strong performance of the company. Management noted that equipment sales is a business sector where opportunities are emerging and growth visibility remains high. The management is extremely confident that these revenues will be recognized during the current fiscal year, with the potential for a spillover into Q1FY24.