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Zen Tech jumps on bagging export order

Capital Market 

Zen Technologies rose 4.02% to Rs 212 after the company said it has signed an export contract worth about Rs 35 crore with one of its important Middle East customers.

The order includes live simulation equipment (Rs 19.7 crore) and Operation & Maintenance (O&M) (Rs 15.4 crore) for four years. The equipment order is expected to be executed in the next three quarters. O&M is for four years.

Zen Technologies emerged as the winner against tough competition from Europe and USA.

The company said its total order book position as on date is Rs 427.79 crore, which includes domestic orders worth Rs 269 crore and export orders worth Rs 158.79 crore.

On a consolidated basis, Zen Technologies reported net loss of Rs 0.02 crore in Q2 September 2021 as against net profit of Rs 0.78 crore in Q2 September 2020. Net sales rose 27.53% to Rs 15.75 crore in Q2 September 2021 over Q2 September 2020.

Zen Technologies provides defence training solutions, drones and anti-drones solutions and has a track record in building training systems for imparting defense training and measuring combat readiness of security forces.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, November 23 2021. 09:12 IST