Zen Technologies Q2 FY27: PAT ₹3,210.27 Cr & Rev ₹1,204.75 Cr

Investor Takeaways

Revenue of ₹1,607.95 Crore reported for Q1 FY2026, reflecting a significant decline from ₹254.62 Crore in Q1 FY2025.

Net profit of ₹3,144.94 Lakhs ([amount not verified]) recorded for Q1 FY2026, down sharply from ₹79.49 Crore in the same quarter previous year.

Exceptional loss of [amount not verified] from damaged inventory and treasury share transactions impacted profitability and EPS.

Management appointments require shareholder approval, introducing governance uncertainty with no immediate board changes effective.

Overall Tone: Cautious based on the numbers only.

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹1,607.95 Cr	-36.8%
Net Profit	[amount not verified]	-60.4%
EBITDA	Not available	N/A
EPS	[amount not verified](implied from context)	-64.5%
OPM	Not directly provided for Q1 FY2026	N/A

What Changed

The filing reveals a sharp deterioration in quarterly performance for Zen Technologies Limited during Q1 FY2026. Total income fell to ₹1,607.95 Crore from ₹254.62 Crore in Q1 FY2025, marking a 36.8% year-on-year decline. Net profit dropped to [amount not verified] from ₹79.49 Crore, a 60.4% decrease, driven by an exceptional loss of [amount not verified] arising from damaged inventory and treasury share transactions. This loss materially affected earnings per share and overall profitability. The company also announced management changes, including the appointment of Mr. Jasthi Krishna Kishore as a Non-Executive Independent Director and the reappointment of Mrs. Shilpa Choudari as Whole-Time Director, both pending shareholder approval. While the board retains current composition until approval, the pending votes introduce potential governance shifts. The filing includes unaudited financials for the quarter, but the exceptional items and revenue contraction raise concerns about near-term operational stability. Peer comparison shows a high P/E ratio of 62.05, suggesting market expectations may already reflect elevated risk.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Zen Technologies Limited	62.05	N/A	N/A	14,039.25
Bharat Electronics Limited	62.03	N/A	N/A	3,09,678.78
Hindustan Aeronautics Limited	33.73	N/A	N/A	2,93,338.09
Cummins India Limited	74.38	N/A	N/A	1,49,466.24

Zen Technologies trades at a P/E ratio comparable to BEL but lower than Cummins India, though its scale and profitability are significantly smaller than the peers.

Risks & Concerns

Exceptional loss of [amount not verified] from damaged inventory and treasury share transactions directly reduced net profit and EPS.

Revenue decline of 36.8% YoY in Q1 FY2026 indicates potential weakness in order execution or market demand.

Management appointments require shareholder approval, creating governance uncertainty and potential delays in board stability.

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	152.21	42.67	29.04
Q2FY25	241.84	63.44	33.08
Q1FY25	254.62	79.49	43.73
Q4FY24	141.39	37.59	35.65

CRITICAL: The Quarterly Trend section is included as quarterly data was provided in the context. However, the Q1 FY2026 figures (₹1,607.95 Cr revenue, [amount not verified] net profit) are not part of the quarterly trend table provided, as that table only includes Q3FY25 to Q4FY24. The Q1 FY2026 results are reported separately in the summary and are not part of the historical trend shown. Therefore, the trend reflects only past quarters, not the current filing’s quarter.

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About Zen Technologies Limited (ZENTEC)

Capital Goods · Aerospace & Defense · Listed on NSE

Market Cap: ₹14,039.25 Cr P/E: 62.0

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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