Multibagger stock: Zen Technologies shares rally on Rs 202 crore order win; co sees more orders ahead

Shares of Zen Technologies jumped 10 per cent in Thursday's trade after the anti-drone solutions company bagged a Rs 202 crore worth order from Ministry of Defence and sees more such orders in the near future. Zen Technologies offers military training and anti-drone solutions and manufactures land-based military training simulators, driving simulators, live range equipment and anti-drone systems.

The stock rose 9.61 per cent to hit a high of Rs 453.15 on BSE. With this, the stock is up 130 per cent in 2023 so far.

The company said it is looking forward to securing additional sizeable contracts within the next quarter. This order win underscores Zen Technologies' steadfast commitment to delivering innovative solutions and driving transformative impact, the company told stock exchanges.

Zen Technologies told BSE: "Zen Technologies, a leading provider of military training and anti-drone solutions, is pleased to announce a significant order win from the Ministry of Defence, government of India valued at approximately Rs 202 crores. The company looks forward to securing additional sizeable contracts within the next quarter," it said.

The stock was recently in news after the company reported multi-fold jump in March quarter profit. The company reported a standalone profit of Rs 17.27 crore for the March quarter against Rs 1.40 crore in the corresponding quarter last year. Net sales for the quarter rose to Rs 74.14 crore from Rs 15.96 crore in the same quarter last year. Ebitda margin, Zen Technologies said, expanded to 35.63 per cent from 29.48 per cent in December quarter and 13.46 per cent in the same quarter last year.

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