Zen Technologies Ltd: Why Is It Outperforming Nifty 500?

Zen Technologies Ltd's latest quarterly results (Mar 2026) show

• PAT Growth YoY: -58.8% (stable)
• Revenue Growth YoY: -45.2%
• Operating Margin: 28.0% (volatile)

Zen Technologies Ltd's profit is declining with an stable trend.

• PAT Growth YoY: -58.8% (latest quarter)
• PAT Growth QoQ: -16.1% (sequential)
• 3-Year PAT CAGR: +63.4%
• Trend: Stable — consistent growth pattern

Zen Technologies Ltd's revenue growth trend is stable.

• Revenue Growth YoY: -45.2%
• Revenue Growth QoQ: 0.0% (sequential)
• 3-Year Revenue CAGR: +46.5%

Zen Technologies Ltd's operating margin is volatile.

• Current OPM: 28.0%
• OPM Change YoY: -14.0% basis points
• OPM Change QoQ: -9.0% basis points

Zen Technologies Ltd's long-term compounding rates

• 3-Year Profit CAGR: +63.4%
• 3-Year Revenue CAGR: +46.5%

Zen Technologies Ltd's earnings growth is stable with weakening on a sequential basis.

• YoY Acceleration: -89.0% bps
• Sequential Acceleration: -6.4% bps
• Note: YoY and QoQ trends are diverging — worth monitoring
• Margin Warning: Operating margins are under pressure

Zen Technologies Ltd's trailing twelve month (TTM) performance

• TTM PAT: ₹218 Cr
• TTM PAT Growth: -27.1% YoY
• TTM Revenue: ₹688 Cr
• TTM Revenue Growth: -29.4% YoY
• TTM Operating Margin: 35.6%

Zen Technologies Ltd appears significantly overvalued based on our fair value analysis.

• Valuation Signal: Significantly Overvalued
• Current PE: 82.9x
• Price-to-Book: 8.5x

Zen Technologies Ltd's current PE ratio is 82.9x.

• Current PE: 82.9x
• Market Cap: 16.0K Cr
• Dividend Yield: 0.11%

Zen Technologies Ltd's current PE is 82.9x.

• Current PE: 82.9x
• Valuation Assessment: Significantly Overvalued

Zen Technologies Ltd's price-to-book ratio is 8.5x.

• Price-to-Book (P/B): 8.5x
• Book Value per Share: ₹209
• Current Price: ₹1771

Zen Technologies Ltd is rated Weak with a fundamental score of 28/100. This score is calculated from objective financial metrics

• Revenue Growth YoY: -45.2% (10% weight)
• PAT Growth YoY: -58.8% (10% weight)
• PAT Growth QoQ: -16.1% (10% weight)
• Margins stable (10% weight)

Zen Technologies Ltd has a debt-to-equity ratio of N/A.

• Total Debt: ₹19 Cr

Zen Technologies Ltd's return ratios over recent years

• FY2024: ROCE 46.0%
• FY2025: ROCE 37.0%
• FY2026: ROCE 16.0%

Zen Technologies Ltd's operating cash flow is positive (FY2026).

• Cash from Operations (CFO): ₹245 Cr
• Free Cash Flow (FCF): ₹83 Cr
• CFO/PAT Ratio: 112% (strong cash conversion)

Zen Technologies Ltd's current dividend yield is 0.11%.

• Dividend Yield: 0.11%
• Current Price: ₹1771

Zen Technologies Ltd's shareholding pattern (Mar 2026)

• Promoters: 48.5%
• FII (Foreign): 6.0%
• DII (Domestic): 10.1%
• Public: 35.0%

Zen Technologies Ltd's promoter holding has remained stable recently.

• Current Promoter Holding: 48.5% (Mar 2026)
• Previous Quarter: 48.5% (Dec 2025)
• Change: 0.00% (stable)

Zen Technologies Ltd has been outperforming Nifty 500 for 3 consecutive weeks, indicating early-stage outperformance.

Zen Technologies Ltd is an established outperformer with 3 weeks of consecutive Nifty 500 outperformance.

Based on quantitative research signals, here is why Zen Technologies Ltd may be worth studying

• Cash flow is positive — CFO ₹245 Cr

Zen Technologies Ltd investment thesis summary:

Zen Technologies Ltd's forward outlook based on current data signals

• Earnings Trend: stable
• Revenue Trend: stable
• Margin Trend: volatile
• Valuation: Significantly Overvalued