Zen Technologies shares slump 9% in 2 days post Q1 results
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Shares of Zen Technologies dropped nearly 9% over two days to Rs 1,603 on the BSE following the company's Q1 results , which showed muted performance and a slowdown in order inflows A report by Nuvama highlights that the consolidated order backlog has declined to Rs 7.54 billion (0.7x FY25 sales), down from Rs 11.6 billion in June 2024, raising concerns about future growth visibility. However, management remains optimistic about achieving Rs 6.5 billion in order inflows in Q2FY26, supported by potential US/NATO exports and India's defense emergency procurement orders throughout FY26.The brokerage firm has downgraded its buy rating to 'HOLD' as they find an approaching earnings trough with a recovery likely only from H2FY27E (if and when ordering picks up). 'We are cutting FY26E/27E EPS by 8%/19% and target PE to 40x (earlier 45x) with rollover to Sep-27E for a TP of Rs 1,800 (earlier Rs 2,170), " the report added.The consolidated revenue of Zen Technologies was reported at Rs 158.22, and the PAT was reported at Rs 47.75 crore.'Our Q1FY26 results reflect moderation in topline growth, we believe this is a temporary adjustment phase with a much stronger long-term growth trajectory. Despite this temporary moderation, our business fundamentals remain strong. We have successfully maintained our EBITDA and PAT margins, reflecting strong operational discipline and cost efficiency. Our consolidated order book stands at₹754 crores and maintains a debt-free balance sheet,' Ashok Atluri – Chairman and Managing Director, said in the filing with the exchange.Looking ahead to H1FY26, we remain confident in achieving our order inflow guidance of Rs 800 crores. Out of which we have secured orders amounting to ₹150 crores till date, with the remaining Rs 650 crores expected to materialize within the first half. In addition, we expect orders to be placed under the government's emergency procurement plan, particularly for anti-drone systems,' Atluri said.He further mentioned that, 'Our robust pipeline, combined with continued policy support for indigenous manufacturing, positions us well for sustained growth. While FY26 is likely to be a year of consolidation, we remain focused on executing our long-term strategy and are confident in maintaining our targeted cumulative revenue of Rs 6,000 crores over the next 3 financial years.'Elara Capital assigns a buy rating with a target price of Rs 2,225. The brokerage firm mentioned in its release that, 'We pare our TP to INR 2,225 on 40x (unchanged; in line with private defence companies) June FY27E P/E. However, we reiterate Buy given the growing demand for domestic defence as also ZEN's product portfolio along with increase in scope for exports, and robust performance by subsidiaries (on inflows and sales).''We reiterate Buy as successful demonstration of ZEN's equipment in the recent India-Pakistan conflict should drive demand on domestic and export fronts, along with robust performance by subsidiaries on the inflows and sales front. We expect an earnings CAGR of 26% in FY25-28E with an average ROE and ROCE of 19% each through FY26E-28E,' ICICI Securities further said.Another brokerage firm, ICICI Securities, downgraded the rating to hold from buy previously, with a target price of Rs 1,700. "Given the delays in ordering, we reduce our FY26/FY27 EPS estimates by 30%/22%. We downgrade the stock to HOLD, from Buy, with a revised target price of INR 1,700, based on 35x FY27E EPS,' it added in its release.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
37 minutes ago
- Time of India
Libra Daily Horoscope Today, August 3, 2025: Wisdom comes when you stay quiet
Today is a day to observe more and speak less. You may feel the urge to react to things happening around you, but silence will serve you better. You have the ability to bring peace, not only for yourself but also for others. Pay attention to what is not being said in conversations. Your mind will pick up important details when you listen deeply. This is a day for calm thinking and balanced energy. Be graceful, and everything will fall in place. Libra Love Horoscope Today Love may bring unexpected feelings today. If you are in a relationship, avoid arguments and instead ask gentle questions. Listening to your partner's worries without interrupting can deepen the bond. If single, someone may express interest but observe their actions before opening your heart. Sometimes silence speaks louder than words. Do not chase, let love reveal itself naturally. A calm heart will attract peaceful love. Let your inner balance guide you in romantic matters today. Libra Career Horoscope Today At work, you will benefit by paying attention to small details and avoiding unnecessary opinions. Let others talk while you stay focused on what matters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like NRIs Living In Saudi Arabia Are Eligible For INR 2 Lakh Monthly Pension. Invest 18K/Month Get Offer Undo You may find an answer to a long-standing issue if you simply listen and reflect. If someone offers help or guidance, accept it with respect. This is not the day to push forward with bold ideas. Instead, refine what you already have. Quiet effort today will bring strong rewards in the days to come. Libra Money Horoscope Today In money matters, it is better to observe the situation than act in haste. A sudden urge to spend might arise, but control it with mindful thinking. Avoid discussing financial plans with people who may not understand your goals. If you are considering a new investment, wait a day or two. Today is good for checking your savings and making silent progress. Listening to financial advice from someone wise could help you build a better plan for the future. Libra Health Horoscope Today You may feel a bit off balance in your physical energy today. This could be due to emotional overload or overthinking. Take time to breathe deeply and avoid crowded places. Soft music, light food, and a quiet space will help recharge your system. If you feel uneasy in the stomach or face mild headaches, avoid too much screen time. Sleep early and avoid cold or junk food. The quieter you keep your mind, the more your body will thank you. Discover everything about astrology at Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces . Read your detailed Horoscope Today and Horoscope Tomorrow here.
Time of India
an hour ago
- Time of India
In redevelopment deals, Mumbai residents sweat over fears of managing committee-builder nexus
1 2 In a housing society in Khar, residents were shocked when they learnt managing committee members enjoyed an all-expense paid holiday in Bangkok, courtesy a builder. The son of a society chairman in the eastern suburbs, who owned a small software firm, got projects worth Rs 6.5 crore, while the daughter, a doctor, managed to get a top post in a hospital. The secretary of another society, who owned a small printing press, got a huge contract to print the annual reports of a construction firm. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai In a Vile Parle society, a woman member has filed a case in the consumer court against the managing committee for allotting her a flat on a lower floor instead of a higher floor, which she claimed she was to get. In Mumbai's real estate industry, redevelopment has become the most lucrative market not just for developers hunting for prime properties. A lesser-known secret is the role of the all-powerful managing committees (MCs) of housing societies; these are a small group of people who initiate redevelopment, meet developers and finally convince society members to select the best. TOI spoke to a cross-section of people in the redevelopment market, including builders, advocates, housing society members, architects, and activists, about the crucial role played by MCs and the influence they wield among competitive developers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This new air conditioner cools down a room in just seconds News of the Discovery Undo Advocate K K Ramani, who has many housing societies as his clients during redevelopment, said the MC has a lot to contribute and its members devote their time and effort. "Someone has to make a decision, good or bad. It is a thankless job. They cannot satisfy everyone,'' he said. Ramani believes residents are more aware of their rights and keep MCs on their toes, but people in the know told TOI underhand benefits for MC members continue from builders and are of varied nature. Ramani said the MCs he deals with are dedicated people and do not short-change other members. "It used to happen two decades ago when society members left everything to the MC to decide during redevelopment. Now, members are more aware of their rights,'' he added. However, people in the know told TOI underhand benefits for MC members continue. "Their chosen builder will give them preferential treatment like better amenities, more area than they are entitled to at a discounted price, or free interiors of the new flat. Or it could be giving a MC member his redeveloped flat on a higher, sea-facing side,'' they said. A developer, who spoke to TOI on the condition that his identity not be revealed, said his experience with MCs was that "25% are genuine while 75% have vested interests''. "Someone from the MC wants more area, others may demand money on the side,'' he said. This developer also claimed several "project management consultants" (PMCs) appointed by MCs to help societies in the redevelopment process, have become "glorified brokers" and are "super corrupt". "They knock out money from developers for selecting them for redevelopment,'' he said. Another developer with a slew of redevelopment projects in the prime Bandra-Khar belt, said some PMCs and MCs "rig tenders" so that the project goes to a selected builder. "These syndicates (nexus of PMC and MC) are known to get kickbacks ranging from Rs 5 crore to Rs 10 crore in prime localities. Redevelopment is their payday," he said. This developer further said what surprises him is that most of these shady MC members come from a wealthy background. Housing activist Chandrashekar Prabhu, who has been pushing for self-redevelopment, said some builders inflate numbers in feasibility reports for redevelopment. "These builders spent huge sums to pay office bearers to select PMCs on their payrolls so that they can manipulate the feasibility reports to make it appear that the builders would hardly earn any profits in the redevelopment schemes. In return for convincing members to agree to a PMC, the architect, structural engineer, liaison consultant, other consultants, select managing committee members and office bearers are paid off. Some builders offer upfront payment to office bearers to identify vulnerable families willing to sell their flats. Moreover, if all members can be convinced the deal offered is the best, proactive office bearers will be given free flats in another project. For every decision that results in an increase of profits for the builder, there is a good share of the spoils for office bearers,'' he said. Advocate Vinod Sampat said the positive aspect of MCs is they protect the interests of society members. ``Many of these committees are experts in various fields and are knowledgeable. Most decisions are taken transparently,'' he said. But Sampat said he has seen the dark side too, where an MC is hand-in-glove with the developer. "The rotten ones will deliberately leave loopholes in development agreements so that income tax and GST liability falls on the members instead of the developer,'' he said, adding arbitration with the builder in case of a dispute will financially ruin the society. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
an hour ago
- Time of India
Online trading scam: A year after losing nearly Rs4 crore, Hyd-based techie lodges plaint
Hyderabad: A city-based software employee filed a complaint with the Telangana Cyber Crime Security Bureau (TGCSB) on Friday, stating that he lost over Rs 3.9 crore to cyber fraudsters posing as stock market investment advisors in April 2024. The victim did not approach the police with a complaint until Friday, as he thought it would be impossible to get back the money lost in cyber fraud . Finally, on the advice of well-wishers, he approached the police. On Friday, the 43-year-old victim from Manikonda stated in his complaint that he came across a stock market trading app in April 2024 through WhatsApp. Convinced by the assurances of the trading app representatives about high returns, he installed the app through a link provided by the fraudsters and began transferring money through the app. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad Between April 12 and 23, 2024, he had transferred Rs 2 crore to various bank accounts provided by the fraudsters. "I grew suspicious on April 24 last year as they were not letting me withdraw any funds. During this time, they credited Rs 87 lakh to my mother's bank account, which I provided, and regained my trust. Reassured, I kept investing," the victim said. Between April and June 2024, the complainant had transferred Rs 4.79 crore and received only Rs 87 lakh into his mother's account. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is this legal? Access all TV channels without a subscription! Techno Mag Learn More Undo "By June, the trading platform had stopped functioning, and fraudsters stopped all communication," the victim said. During the same period, the Gujarat Cyber Crime Department froze the account of his mother, which had received Rs 87 lakh from the fraudsters in relation to a cybercrime case registered in their jurisdiction. "My 65-year-old mother has nothing to do with this case, yet her account was blocked. Please identify the fraudsters and unfreeze the bank account," the victim requested TGCSB in his complaint. Taking cognisance, the TGCSB (Headquarters) police station registered a case under Section 66-D of the IT Act and Sections 318(4) (cheating and dishonestly inducing delivery of property), 319(2) (cheating by personation) and 338 (Forgery of valuable security, will, etc) of the BNS. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
