Defence company Zen Technologies announced Q3FY24 results: Financial Performance Highlights Revenue: Zen Technologies reported an increase in revenue, reaching Rs 98.08 crore in Q3FY24, a growth of 198% YoY. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): The company's EBITDA soared to Rs 48.41 crore, marking a substantial rise of 371% YoY. PAT (Profit After Tax): PAT stood at Rs 31.67 crore, which represents a remarkable 317% YoY increase. EBITDA Margins: EBITDA margins climbed impressively, reaching 47.34% in Q3FY24. Order Book and Strategic Growth New Patent Grants: Zen Technologies secured 15 new patent grants in India during FY24, emphasizing its focus on innovation and technological progress. Revenue Target: The company remains on track to achieve the revenue target of Rs 450+ crore for FY24. Order Book: The order book is robust with optimism for securing additional contracts. Export Markets: There is an active pursuit of significant growth opportunities in export markets with competitive product offerings. Future Projections and Investment Turnover Projection: The company is confident about achieving a turnover of 900+ crore in the next financial year. Acquisition and Expansion: Zen Technologies is exploring inorganic expansion opportunities through acquisitions. Fundraising Resolution: An enabling resolution has been passed to raise funds to an aggregate amount of Rs 1,000 crore to support growth. Commenting on the results, Ashok Atluri – Chairman and Managing Director, said, “Reflecting on the performance of Q3FY24, I am pleased to report that Zen Technologies Limited has continued its growth trajectory, reporting the company's best 9-month performance in its history. FY24 is on course to become the most successful year to date in terms of financial performance and new order wins for the company. To date in FY24, the company has secured 15 new patent grants in India, reinforcing its commitment to innovation and technological advancement. In line with our previously stated guidance, we remain on track to achieve our revenue target of Rs 450+ crore for FY24. The order book remains robust, and we are optimistic about securing additional contracts. Furthermore, the export markets continue to offer significant growth opportunities, which the company is actively pursuing with its competitive product offerings. Building on this momentum, we are confident in our ability to achieve a turnover of Rs 900+ crore in the next financial year, which would mark another milestone in our journey of growth. Zen Technologies remains focused on maintaining strong liquidity and leveraging its asset-light business model to ensure sustained growth and value creation for our stakeholders. Zen is also looking at opportunities to expand inorganically through acquisition. To support this path of probable growth, we have passed an enabling resolution to raise funds. This resolution allows for the raising of funds up to an aggregate amount of Rs 1,000 crore. We anticipate that our strategic investments and the unwavering commitment to our core competencies will continue to yield positive outcomes as we advance." Result PDF
Defence company Zen Technologies announced Q1FY24 results: Sales of Rs 132.45 crore in Q1FY24 compared to Rs 33.23 crore in Q1FY23 Total revenue of Rs 135.08 crore in Q1FY24 compared to Rs 35.38 crore in Q1FY23 EBITDA of Rs 68.79 crore in Q1FY24 compared to Rs 13.38 crore in Q1FY23 EBITDA margins of 50.93% in Q1FY24 compared to Rs 37.80% in Q1FY23 Interest cost of Rs 0.35 crore in Q1FY24 compared to Rs 0.59 crore in Q1FY23 Profit before tax of Rs 66.98 crore in Q1FY24 compared to Rs 11.87 crore in Q1FY23 Profit after tax of Rs 47.13 crore in Q1FY24 compared to Rs 8.21 crore in Q1FY23 Commenting on the results, Ashok Atluri – Chairman and Managing Director, 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 an EBITDA of 51%. 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. We believe this is merely the onset of an inflection point—a positive black swan event, resulting from the convergence of various factors such as #MakeInIndia, #Atmanirbharata, Buy Indian IDDM, Defence Positive Lists, Simulation Framework, and the GoI's Sustainability Commitment. Owing to escalating geopolitical risks and India’s improved international relations, we are optimistic about making significant inroads in the export markets, especially for simulators and anti-drone systems. We have a strong liquidity position and a healthy balance sheet with a significant improvement in our working capital cycle. This will support the execution of the orders and fuel our plans for the growth opportunities that will unfold in the coming years.” Result PDF