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533339: Major Defence Orders Will Drive Momentum Following INR 2,890 Million Contracts

Update shared on 26 Nov 2025

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1Y
-43.1%
7D
1.3%

Analysts have raised their price target for Zen Technologies, increasing it from ₹1,642.8 to ₹1,642.8. They cite slightly lower discount rates and improved earnings forecasts as key factors in their reassessment.

What's in the News

  • Zen Technologies has been awarded two major contracts from the Ministry of Defence, Government of India, totaling INR 2,890 million. These are for the upgradation of its Anti-Drone Systems, with project completion expected within a year (Company Announcement).
  • The company will make an investment of up to INR 70 million by acquiring or subscribing to equity shares equivalent to 76% of the total paid-up share capital of Anawave Systems & Solutions Private Limited, as discussed at the board meeting on November 5, 2025 (Board Meeting).
  • Another recent Ministry of Defence order, valued at approximately INR 370 million, has been received by Zen Technologies for the supply of Anti-Drone Systems with Hard Kill. This order is to be executed within a year (Company Announcement).
  • The board meeting held on October 25, 2025, included approval of standalone and consolidated unaudited financial results for the second quarter and half-year ended September 30, 2025 (Board Meeting).

Valuation Changes

  • Consensus Analyst Price Target remains unchanged at ₹1,642.8.
  • Discount Rate has decreased slightly from 13.65% to 13.61%.
  • Revenue Growth Estimate is unchanged at 40.63%.
  • Net Profit Margin Estimate is unchanged at 27.08%.
  • Future P/E Ratio has fallen moderately from 39.98x to 35.19x.

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Disclaimer

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