Zen Technologies hits historic high in Q3FY24 with impressive financial results
Zen Technologies Limited, a leading Indian provider of anti-drone technology and defense training solutions, has announced a remarkable financial performance for Q3FY24. Demonstrating significant growth, the company reported its best ever 9-month performance, marking a pivotal moment in its history.
Impressive Financial Growth:
For Q3FY24, Zen Technologies achieved sales of ₹98.08 crore, a substantial increase from ₹32.93 crore in Q3FY23. This growth is further highlighted by the company’s total revenue for the quarter reaching ₹102.26 crore. Such figures not only reflect the company’s financial health but also its growing influence in the defense technology sector.
Key Financial Indicators:
The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) stood at ₹48.41 crore with an impressive margin of 47.34%. These figures indicate a robust operational performance, significantly higher than the previous year’s Q3. Profit After Tax (PAT) also saw a remarkable rise to ₹31.67 crore, further emphasizing the company’s profitability.
Zen Technologies Limited Reports Record Financial Performance in Q3FY24
Ashok Atluri’s Statement:
Ashok Atluri, Chairman and Managing Director of Zen Technologies, expressed satisfaction with the company’s trajectory, stating that FY24 is set to be the most successful year in terms of financial performance and new order wins. He highlighted the company’s commitment to innovation, with 15 new patent grants in India to date in FY24.
Future Outlook:
Zen Technologies is on track to achieve a revenue target of over ₹450 crores for FY24. With a robust order book and promising export markets, the company is optimistically eyeing a turnover of ₹900+ crores in the next financial year. This projection underscores the company’s continued growth and expansion in the defense sector.
Strategic Expansion and Investment:
The company is exploring inorganic expansion through acquisitions and has passed a resolution to raise funds up to ₹1,000 crores. This move is aimed at supporting Zen Technologies’ growth path and ensuring sustained value creation for stakeholders.
Zen Technologies Limited’s remarkable performance in Q3FY24 reflects the increasing demand and growth potential in the defense technology sector. Their focus on innovation, as evidenced by new patent grants, and strategic planning for future expansion positions them as a key player in the industry. This financial success story is indicative of the broader trend of growth in the defense technology market, both domestically and globally.