Date: November 01, 2026

Consolidated Financial Performance Q2FY27

Revenue and Profitability

  • Reported highest-ever consolidated quarterly revenue of ₹345.13 crore, representing 98.8% year-on-year growth from Q2FY26 revenue of ₹173.57 crore
  • Operational EBITDA reached ₹131.99 crore with margins of 38.2%, compared to 37.3% in Q2FY26
  • Profit After Tax (adjusted for Non-Controlling Interest) stood at ₹89.54 crore, showing significant growth from ₹59.40 crore in Q2FY26
  • Total Revenue (including Other Income of ₹16.71 crore) was ₹361.84 crore
  • EBITDA was ₹148.70 crore with margins of 41.1%

Cost Structure

  • Total Operating Expenses were ₹213.14 crore
  • Interest Cost was minimal at ₹1.13 crore
  • Depreciation was ₹8.73 crore
  • Profit before exceptional items and tax was ₹137.69 crore

Half-Yearly Performance H1FY27

Revenue and Profitability

  • Consolidated revenue for H1FY27 reached ₹486.77 crore
  • Operational EBITDA was ₹170.71 crore with margins of 35.1%
  • Profit After Tax (adjusted for Non-Controlling Interest) was ₹124.00 crore
  • Total Revenue (including Other Income of ₹35.87 crore) was ₹522.64 crore
  • EBITDA was ₹206.59 crore with margins of 39.5%

Cost Structure

  • Total Operating Expenses for H1 were ₹316.05 crore
  • Interest Cost was ₹2.22 crore
  • Depreciation was ₹16.58 crore
  • Profit before exceptional items and tax was ₹186.32 crore

Order Book and Business Development

Order Inflow and Book Position

  • Order inflow during Q2FY27 was ₹481.81 crore
  • Consolidated order book stood at ₹1,375.70 crore as of September 30, 2026
  • Order book continued to grow as execution accelerated during the quarter

Market Context

  • Defence Acquisition Council recently accorded Acceptance of Necessity to capital acquisition proposals
  • Approximately 82% of these proposals earmarked for sourcing from domestic defence industry
  • Zen has fielded products in categories covered by these procurement initiatives
  • Indigenization becoming central to defence procurement in India

Management Commentary

Mr. Ashok Atluri, Chairman and Managing Director, stated:

  • This quarter marks a defining milestone in Zen's growth trajectory
  • Results reflect the scale of execution capability built over the years
  • Company has begun delivering Fast Track Procurement orders received last year, ahead of contractual timelines
  • Ownership of core technology enables significantly faster turnaround (weeks instead of procurement cycles)
  • Ability to respond to evolving operational needs at the speed Armed Forces require
  • Ownership of core technology positions Zen strongly to capitalize on indigenization opportunities

Company Background

Zen Technologies Limited is:

  • A pioneer and leader in providing world class state-of-the-art Defence Training and Anti-Drone solutions
  • Has proven track record in building training systems for imparting defense training and measuring combat readiness of security forces
  • Has dedicated R&D facility recognized by Ministry of Science and Technology, Government of India
  • Has production facility in Hyderabad
  • Has applied for 235+ patents
  • Has shipped more than 1,000 training systems around the world