FY24 Annual Result Announced for Zen Technologies Ltd.
Defence company Zen Technologies announced standalone FY24 results: Financial Highlights: Zen Technologies reported a significant increase in Financial Highlights for FY24 with Revenue at Rs 430.28 crore (167% YoY), EBITDA at Rs 191.16 crore (228% YoY), and PAT at Rs 129.23 crore (243% YoY). The company secured orders worth Rs 1,358 crore and projects that the order book, exceeding Rs 1,400 crore as of March 31, 2024, will contribute to sustained growth. Commenting on the results, Ashok Atluri – Chairman and Managing Director, said: “I am delighted to report that FY24 marks a significant milestone in our financial performance, achieving record sales, profitability, and order wins. We secured orders worth Rs 1,358 crore, reflecting a notable shift in the armed forces’ perception towards training equipment and anti-drone systems. This transformation is further underscored by the increasing demand for our products from friendly foreign nations. Our successful performance reaffirms our business model of self-funding three decades of R&D; for potential products. The pivotal role played by government initiatives aimed at indigenization has provided us with the right opportunity to amplify our success. With a robust order book exceeding Rs 1,400 crore as of March 31, 2024, we are poised for sustained growth in FY25, aiming to surpass the Rs 900 crore sales mark. To enhance our product portfolio and depth, we have augmented our investment in research and development. In the coming weeks and months, we anticipate launching a range of innovative products tailored to the needs of both the Indian armed forces and international clients. Our commitment to expanding our export business remains steadfast. Through active participation in major trade shows and exhibitions, supported by the Government, we continue to generate potential leads to bolster our international presence. Looking ahead, we are exploring strategic inorganic acquisitions to expand into market and product adjacencies, ensuring high probability of success. In conclusion, we believe this to be a prosperous era for companies like Zen, which prioritise design, development, IP generation, and innovation. We are poised for continued growth and success in the foreseeable future." Result PDF06-05-2024