Zen Technologies jumps on winning orders

Zen Technologies rose 3.20% to Rs 83.90 after the company said it received orders from Indian and international customers for annual maintenance contract and supply of products.

The company has received an order worth about Rs 40 crore from a government customer for annual maintenance contract for a period of five years.

On the export front, the company recently received an order worth about $1.4 million for supplying simulators to a West African army. The order has been partially executed.

Further, the company received order worth about $700,000 for supplying simulators to a Middle East country. The order is expected to be executed during Q3 of FY 2020-21. Both the export orders aggregate to Rs 15.56 crore.

Zen Technologies is engaged in the business of designing, developing and manufacturing combat training solutions for the training of defence and security forces worldwide. It develops training simulators for weapons and allied defence equipment.

On a consolidated basis, the company reported a net loss of Rs 1.34 crore in Q1 June 2020 as against a net profit of Rs 15.72 crore reported in the same period last year. Net sales during the quarter slumped 91.5% YoY to Rs 4.16 crore.

Currently, the stock is trading 13.50% below its 52-week high of Rs 97 hit on 19 August 2020. It has surged 274.55% from its 52-week low of Rs 22.40 recorded on 31 March 2020.

Powered by Capital Market - Live News