Aerospace & Defence company Zen Technologies announced Q2FY26 results Total Revenue: Rs 198.88 crore compared to Rs 250.31 crore during Q2FY25. EBITDA: Rs 90.05 crore compared to Rs 88.48 crore during Q2FY25. EBITDA Margin: 51.88% for Q2FY26 PBT: Rs 82.30 crore compared to Rs 82.37 crore during Q2FY25. PAT: Rs 59.40 crore compared to Rs 62.67 crore during Q2FY25. Ashok Atluri, Chairman & Managing Director, said: “Our Q2 performance reflects continued operational strength and disciplined execution, even as revenue and profit were impacted by procedural delays in order finalisations. The fundamentals of our business remain solid, with strong liquidity and increasing value addition from our subsidiaries. During the quarter, we reported lower turnover compared to the same period last year. Despite this, operational EBITDA margins remained healthy, demonstrating our ability to sustain profitability even amid temporary fluctuations in revenue. Contributions from subsidiaries, particularly Applied Research International Private Limited (ARIPL) and Unistring Tech Solutions (UTS), continued to reflect the success of Zen’s strategic investments. Looking ahead, we expect stronger subsidiary contributions as execution scales up and synergies are fully realised. Zen’s financial position remains robust with liquidity of over Rs 1,100 crore as of September 30, 2025. The Company continues to prioritise R&D; investments to deepen its technological edge and expand its product portfolio. In the aftermath of Operation Sindoor, the Government of India initiated a series of emergency procurement measures to address immediate operational requirements. As a result, the closure timelines for certain regular Requests for Proposals (RFPs) have been temporarily delayed. This development is procedural in nature and does not impact the underlying demand or long-term revenue visibility. The deferred orders remain active within the procurement system and are expected to be released in due course. At the same time, Operation Sindoor provided real-world validation of Zen’s operational equipment, following which the Company is experiencing increased interest, particularly for its anti-drone systems. We remain confident that the temporary headwinds being witnessed in FY26 will give way to a stronger performance in the years ahead, driven by our continued focus on innovation, disciplined execution and the expanding opportunities in India’s defence modernisation programme.” Result PDF