Revenue triples, board approves Rs 1,000-crore QIP

Small-cap defense company Zen Technologies Ltd. reported December quarter results, in which its revenue grew three times compared to the same period last year.

The company reported revenue of Rs 98 crore during the quarter, compared to Rs 32.93 crore it had reported during the same period last year. Even compared to the September quarter, the company's revenue grew by 53%.

Net profit for the period grew almost five-fold to Rs 31.66 crore, compared to Rs 7.58 crore reported in the year-ago quarter.

Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at ₹44.22 crore from ₹8.35 crore last year, while margin expanded to 45% from 25.3 % from last year.

Further, the board of directors of the company also approved raising funds worth up to Rs 1,000 crore or an equivalent amount through a QIP or any other permitted mode or a combination of both.

In an interaction with CNBC-TV18 In November last year, Ashok Atluri of Zen Technologies said the company's current order book stood at Rs 1,500 crore, of which over Rs 400 crore were export orders.

Atluri also guided the company to achieve Rs 900 million in revenue along with an EBITDA margin of 35% in fiscal 2025. During the first nine months of financial year 2024, the company's gross revenue stood at Rs 294 million. rupees, an increase of 82% compared. to Rs 161 crore it earned during the first nine months of the previous financial year.

Shares of Zen Technologies ended 3% higher on Thursday at ₹729. Although the stock is down 20% from its recent high of ₹911, it is still up 280% in the last 12 months.

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