Shares of Zen Technologies surged 6.7% to a day’s high of ₹1,447.30 on the BSE on Monday, November 3, after the company announced two significant contracts worth ₹289 crore from the Ministry of Defence (MoD), Government of India. The contracts are aimed at upgrading Zen’s Anti-Drone Systems (ADS) to meet the evolving operational requirements of India’s defence forces.
In a stock exchange filing on November 2, the company stated, “Slated for completion within a year, these upgrades directly address operational feedback from Operation Sindoor and other frontline missions, where evolving drone threats have underscored the urgent need for systems that can be swiftly adapted at both hardware and software levels.”
Ashok Atluri, Chairman and Managing Director of Zen Technologies, underscored the importance of continuous innovation in defence systems, saying, “Recent operations like Operation Sindoor have made it clear that the pace at which our defence systems evolve determines our ability to secure the nation. Zen Technologies is committed to ensuring India is always one step ahead.”
Despite the positive contract announcement, Zen Technologies’ recent financial results reflected some pressure. For the quarter ended September 30, FY26, the company reported a 2.2% decline in consolidated net profit to ₹62 crore, compared to ₹63.4 crore in the same period last year. Revenue from operations dropped 28% year-on-year to ₹173.5 crore, down from ₹242 crore in Q2FY25. However, total expenses decreased significantly to ₹116.5 crore, compared to ₹167 crore during the same quarter of the previous fiscal.
For the first half of FY26, Zen Technologies posted a 30% year-on-year decline in revenue to ₹332 crore, compared to ₹496 crore in H1FY25. Net profit for the same period fell nearly 20%, from ₹143 crore to ₹115 crore.
Headquartered in Hyderabad, Zen Technologies specializes in designing, developing, and manufacturing combat training and counter-drone solutions for defence and security agencies. Its product portfolio spans live fire, virtual, and constructive training systems, alongside advanced counter-drone technologies for safeguarding borders and critical infrastructure.
The company’s stock had closed at ₹1,357 on Friday, down over 1%, and remains 45% lower year-to-date, despite this recent rally driven by its latest MoD contract win.
