New Delhi: Zen Technologies, a drone solutions maker, saw a 14% surge in its shares after reporting a significant increase in its Q4 profit. The company’s standalone profit for the March quarter was Rs 17.27 crore, up from Rs 1.40 crore in the corresponding quarter for the previous year. Meanwhile, net sales for the quarter grew to Rs 74.14 crore to Rs 15.96 crore in the same quarter last year.
The EBITDA margin also expanded to 35.63%, up from 29.48% in the December quarter and 13.46% in the same quarter. The company’s liquidity position is at an all-time high, enabling it to deliver ambitious growth plans. The Chairman and Managing Director, Ashok Atluri, said the company secured multiple new orders worth Rs 141.67 crore in Q4FY23, increasing its orders in hand to Rs 473 crore on March 31.
The company has placed bids for substantial orders and expects the results to be out by H1FY24. To capitalize on these potential opportunities, the company is taking steps to enhance the bandwidth of its key functions, including supply chain, procurement, and production planning. The company is also recruiting technical and non-technical manpower to support its growth.
Atluri said the company’s long-term focus is on achieving leadership in several key areas.
The company’s first priority is to establish itself as a leader in the development of both live and virtual land-based simulators. The company is also committed to dominating the anti-drone market by maintaining strong connections with its customers and through continuous investment in research and development. The company plans to grow its services business by leveraging AMC.
Additionally, the company aims to expand its global presence, with a particular focus on the Middle East, Africa, and CIS countries. The company will continue to strengthen its R&D capabilities and focus on high-value complex systems. The investment in R&D reached an all-time high of nearly Rs 19 crore, significantly higher than the average of Rs 14 crore spent in the last five years.
The company has made significant progress on its export order, with a partial execution of the order and recording of the corresponding revenues during the fiscal year. However, the company is excited to inform that it is confident about delivering the remaining part of the order in H1FY24. Delivery of the remaining part of the company’s anti-drone order is also scheduled for Q1FY24. These developments set the stage for a vigilant start to the next financial year, and the company looks forward to further building on this momentum in the year to come.
