# Zen Tech share price today (Zen Technologies Ltd, NSE: ZENTEC)

> Zen Tech share price today: ₹1,710.60 at the NSE close on 3 November 2026, up 26.0% in a year. Zen Technologies (NSE: ZENTEC) is worth ₹15,449 crore, trades at a P/E of 72.7 and has closed between ₹1,287.60 and ₹1,997.00 over the past 52 weeks. > Zen Technologies Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. ZENTEC · Aerospace & Defence - Equipments · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/zen-technologies-ltd

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## Key numbers

- Business trend: Getting worse, from fewer quarters than usual
- Price: ₹1,710.60 (+26.0% in a year)
- P/E: 72.7× (lower than 54% of the last 11 years)
- Revenue (Sep 2026): ₹345 Cr (+98.3% on a year ago)
- Profit (Sep 2026): ₹102 Cr (+64.5% on a year ago)
- Operating margin: 38.0% (+1.0 points on a year ago)
- ROCE: 16%, FY26
- Profit that came in as cash: 45%, last 3 years

The main question: profits are rising, but only 45% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Zen Tech share price today? Zen Technologies Ltd's share price was ₹1,710.60 at the close on 3 November 2026. It has been rising for 27 weeks. That is 4.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,288 and ₹1,997, and at that close it sat 60% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row. Over the last 11 years the share price moved +2,325% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Zen Tech this quarter? Three changes stood out: revenue grew again in the September 2026 quarter, profit grew again in the September 2026 quarter and indian funds and insurers (DIIs) raised their stake for 3 quarters in a row. 1. Revenue grew again in the September 2026 quarter Revenue was ₹345 crore, +98.3% on a year earlier (₹174 crore), after 2 quarters of decline. 2. Profit grew again in the September 2026 quarter Profit was ₹102 crore, +64.5% on a year earlier (₹62 crore), after 2 quarters of decline. 3. Indian funds and insurers (DIIs) raised their stake for 3 quarters in a row From 7.9% to 10.8% of the company by the September 2026 quarter. ## What are Zen Tech's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Zen Tech reported revenue of ₹345 crore, up 98.3% from ₹174 crore a year earlier, and a profit of ₹102 crore, up 64.5% from ₹62.0 crore. ### Zen Tech results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹345 crore | ₹174 crore | +98.3% |
| Profit | ₹102 crore | ₹62.0 crore | +64.5% |
| Earnings per share | ₹9.92 | ₹6.58 | +50.8% |
| Operating margin | 38.0% | 37.0% | +1.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 27 July 2026, about April to June 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Zen Tech share price history? Zen Tech closed at ₹1,710.60 on 3 November 2026, up 26.0% from ₹1,357.20 a year earlier (31 October 2025) and up 715.0% over five years. Its highest weekly close since March 2016 was ₹2,533.45 on 3 January 2025. ### Zen Tech share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,494.10 | +14.5% |
| 1 month ago · 1 Oct 2026 | ₹1,573.10 | +8.7% |
| 6 months ago · 30 Apr 2026 | ₹1,671.10 | +2.4% |
| 1 year ago · 31 Oct 2025 | ₹1,357.20 | +26.0% |
| 3 years ago · 3 Nov 2023 | ₹710.95 | +140.6% |
| 5 years ago · 4 Nov 2021 | ₹209.90 | +715.0% |
| 10 years ago · 4 Nov 2016 | ₹72.15 | +2,270.9% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹70.55 | +2,324.7% |
| Highest weekly close since March 2016 · 3 Jan 2025 | ₹2,533.45 | −32.5% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹25.80 | +6,530.2% |
| 52-week high (weekly close) · 19 Jun 2026 | ₹1,997.00 | −14.3% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹1,287.60 | +32.9% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (561 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Zen Tech? 3 Nov 2026: Zen Tech closed at ₹1,710.60, up 14.5% on the week and up 8.7% on the month. Results for July to September 2026: Revenue up 98.3% and profit up 64.5% on a year earlier. ### Earlier

- 21 Aug 2026: ex-date for a dividend of ₹1 a share. - 27 Jul 2026: Zen Tech held its results call for April to June 2026. Management guided: FY27 full-year operational operating margin in the mid-30s versus a 35.0% guide. ## What dividend does Zen Tech pay? Zen Tech paid ₹1 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.06% at the ₹1,710.60 close on 3 November 2026. The last was a dividend of ₹1 a share, ex-date 21 August 2026. ### Zen Tech dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 21 Aug 2026 | ₹1 | Dividend | same day |
| 14 Aug 2025 | ₹2 | Dividend | 15 Aug 2025 |
| 6 Sep 2024 | ₹1 | Dividend | same day |
| 8 Sep 2023 | ₹0.20 | Dividend | same day |
| 21 Sep 2022 | ₹0.10 | Dividend | 22 Sep 2022 |
| 18 Aug 2021 | ₹0.10 | Dividend | 20 Aug 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Zen Technologies Ltd paid out 5% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Zen Tech management say on the latest results call? On the call for April to June 2026, held on 27 July 2026, Zen Tech's management guided: FY27 full-year operational operating margin in the mid-30s versus a 35.0% guide. > “For at least the next 1-2 years, simulators and anti-drone systems will drive the company forward.”
> Hariharan Chalath, on the call for April to June 2026

### What management guided

- FY27 revenue delivery expected to be weighted toward Q2 and Q3 as the existing order book executes over its typical 12-month cycle. - Year-end FY27 order book expected at around ₹2,500 crore after execution, dependent on government procurement converting the current pipeline. - Analyst-referenced FY27-FY28 cumulative revenue framework of ₹4,000 crore was not independently revised; the CEO indicated simulators could contribute about ₹2,000 crore. - Simulator pipeline of ₹700-800 crore is expected to convert; anti-drone opportunity could reach at least ₹2,000 crore as fast-track tenders emerge. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/4824/Conference Call/CC-Jul26.pdf). (From the call for April to June 2026, 27 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Zen Tech's next results? When Zen Tech reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Q2 revenue should begin reflecting the order-book phasing, with delivery schedules weighted toward Q2-Q3; check whether quarterly revenue moves above the Q1 base. - What to check (from the call)
- Q2 revenue should begin reflecting the order-book phasing, with delivery schedules weighted toward Q2-Q3; check whether quarterly revenue moves above the Q1 base. - Additional simulator awards beyond ₹178 crore and conversion of the ₹700-800 crore pipeline over the next couple of months will test the expected order restart. - Fast-track anti-drone tenders and resulting order wins will indicate whether demand weakness was primarily government procurement timing. - Operational operating margin recovery toward the 35.0% full-year guide will show whether fixed-cost absorption improves as order execution scales. ## Which stock lists is Zen Tech on? Zen Tech is on 2 of our India lists: Small & mid cap stocks and Defence stocks. - [Small & mid cap stocks Size rank in India: 449](https://www.sectoralpha.in/small-cap-stocks-india)
- [Defence stocks Group on the list: Defence equipment and electronics](https://www.sectoralpha.in/sectors/aerospace-defence-equipments)

## Is Zen Tech profitable? Zen Technologies Ltd earned ₹102 Cr of net profit in the Sep 2026 quarter, +64.5% on the same quarter a year earlier. Full-year FY26 profit was ₹218 Cr. Over 11 years profit has grown 26.8% a year on average. That is 29.6% of the quarter's revenue. The same quarter a year earlier earned ₹62.0 Cr. For the full year, FY26 profit was ₹218 Cr (−27.1% on the year before). Why profit moved: revenue changed +98.3% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed −0.9% and revenue +15.0%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Zen Tech make, and is it growing? Zen Technologies Ltd reported ₹345 Cr of revenue in the Sep 2026 quarter, +98.3% on the same quarter a year earlier. Over 11 years it has grown 21.7% a year on average. The last full year, FY26, came in at ₹688 Cr. The last four reported quarters add to ₹843 Cr. FY26 revenue was ₹688 Cr, −29.4% on the year before. Recent pace: the last four quarters grew +15.0% on average, against 21.7% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +4.2%, against +6.9% a year over the last 8 quarters (stabilising); profit over the last 12 months grew −12.9%, against +6.2% a year (rolling over). ## How much of every ₹100 of sales does Zen Tech keep? Zen Technologies Ltd's operating margin was 38.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 1.3% and 42.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +0.7 percentage points on the year while gross margin changed −4.9 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Zen Tech's profit turning into cash? Over the last 3 years, 45% of Zen Technologies Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹245 Cr of operating cash against ₹218 Cr of profit. After ₹63.0 Cr of spending on assets, ₹182 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 45% of profit came in as cash: the cash cycle got 176 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: the bigger use of cash is spending on new assets, at 4.6× depreciation over three years. The next section checks what that spending is building. ## Where does Zen Tech's cash go? Zen Technologies Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 425 days in FY26, down from 601 days in FY21. It spent ₹226 Cr on assets over the last 3 years. Customers take 119 days to pay, and stock sits for 415 days on average. At FY26 sales of ₹688 Cr, each day of that cycle ties up about ₹1.9 Cr, so roughly ₹801 Cr is tied up in the business at any time. FY26: customers took 119 days to pay and stock sat for 415 days, about 13.7 months of sales sitting as stock, for a full cycle of 425 days, shorter than FY21's 601. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 415 days. Customers pay about 119 days after that. Suppliers are paid at 109 days. Together that makes the 425-day cycle. Spending on assets: ₹226 Cr over the last 3 years, against ₹49.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹15.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Zen Tech's P/E ratio, and how does it compare with its own history? Zen Technologies Ltd's P/E is 72.7×, in the middle of its own history: higher than 46% of past readings. Its usual P/E (the middle reading) is 77.2×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −31.0% while the price moved +26.0%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +52.1% a year; about +116.8% a year came from earnings growth and about −64.7 percentage points from the multiple (the market paying less); over 10 years the price moved +37.2% a year; about +52.3% a year came from earnings growth and about −15.1 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 32% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Zen Tech business getting better or worse? Zen Technologies Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −12.9% in the latest quarter, against +130.0% at its best in 12 quarters, with ROCE falling at 16.0%. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does Zen Tech earn on its capital? Zen Technologies Ltd earned a ROCE of 16% in FY26. That is up from a low of 2% in FY14. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 31.7% net margin and 0.32× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 31.7% net margin × 0.32× asset turnover × 1.14× leverage (assets divided by equity) ≈ 11.6% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 32% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Zen Tech have too much debt? Zen Technologies Ltd had ₹19.0 Cr of borrowings against ₹1,889 Cr of equity in FY26, so its debt is 0.01× its equity. Its operating profit is 25 times its interest bill. Over 5 years borrowings went from ₹2.0 Cr to ₹19.0 Cr. Over the last 3 of those years it spent ₹226 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 32% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Zen Tech shareholding pattern? Promoters cut their stake in Zen Technologies Ltd by 2.8 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 48.5% of the company. Domestic institutions moved +2.7 points over the same period, to 10.8%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −2.8 points over 8 quarters, to 48.5%; Domestic institutions: +2.7 points over 8 quarters, to 10.8%; Foreign institutions: +0.9 points over 8 quarters, to 6.6%. Why the owners changed: promoters drove it (−2.8 points), with the other side taken by domestic institutions (+2.7 points). They reduced their stake. ## How far is Zen Tech from balance-sheet trouble? For Zen Technologies Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Zen Tech rank in its industry? 47.6 out of 100, rank 15 of 25 in Aerospace & Defence - Equipments, with 60% of the evidence available. Zen Technologies Ltd scores 47.6 out of 100 against the 25 companies it is compared with in Aerospace & Defence - Equipments, ranking 15. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 9.2 + 17.2 + 10.6 + 10.6 = 47.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Zen Tech compared with? Zen Tech ranks 15 of 25 Aerospace & Defence - Equipments companies on the 4-Factor Sector Score, with 47.6 out of 100. 1. [Apollo Micro Systems Ltd](https://www.sectoralpha.in/stocks/apollo-micro-systems-ltd) APOLLO · turning · Most evidence points up · 100% evidence 70.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.9/35 · Revenue 77% · Profit 63.8% · Operating margin change 3 points · 100% evidence Capital efficiency 15.8/25 · ROCE 14.5% · Operating margin 29% · 100% evidence Valuation 9.2/20 · P/E 107× · PEG 1.7 · 100% evidence Relative strength 16.4/20 · Lead over its industry 10% · Lead over NIFTY 500 31% · 1 year 44.1% · 100% evidence · 4 of 12 weeks ahead Exact sum: 28.9 + 15.8 + 9.2 + 16.4 = 70.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [MTAR Technologies Ltd](https://www.sectoralpha.in/stocks/mtar-technologies-ltd) MTARTECH · breaking out · Most evidence points up · 90% evidence 70.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.3/35 · Revenue 53.5% · Profit 100% · Operating margin change 10.2 points · 100% evidence Capital efficiency 15.6/25 · ROCE 15.1% · Operating margin 23.2% · 100% evidence Valuation 7.4/20 · P/E 155× · PEG n/a · 50% evidence Relative strength 14.9/20 · Lead over its industry 18.6% · Lead over NIFTY 500 37.1% · 1 year 168.4% · 100% evidence · 5 of 12 weeks ahead Exact sum: 32.3 + 15.6 + 7.4 + 14.9 = 70.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Rossell Techsys Ltd](https://www.sectoralpha.in/stocks/rossell-techsys-ltd) ROSSTECH · leader · Evidence leans up · 79% evidence 64.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.5/35 · Revenue 82.9% · Profit 68.8% · Operating margin change 1.8 points · 88% evidence Capital efficiency 8.2/25 · ROCE 11.5% · Operating margin 14.4% · 100% evidence Valuation 8.8/20 · P/E 194× · PEG n/a · 15% evidence Relative strength 19.5/20 · Lead over its industry 28.7% · Lead over NIFTY 500 52.7% · 1 year 107.2% · 100% evidence · 11 of 12 weeks ahead Exact sum: 27.5 + 8.2 + 8.8 + 19.5 = 64 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Paras Defence and Space Technologies Ltd](https://www.sectoralpha.in/stocks/paras-defence-and-space-technologies-ltd) PARAS · breaking out · Evidence leans up · 82% evidence 63.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.4/35 · Revenue 41.5% · Profit 58.8% · Operating margin change 1 points · 95% evidence Capital efficiency 17.5/25 · ROCE 17.2% · Operating margin 29% · 76% evidence Valuation 8.7/20 · P/E 98.6× · PEG n/a · 50% evidence Relative strength 13.3/20 · Lead over its industry 17.1% · Lead over NIFTY 500 37.9% · 1 year 76.3% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24.4 + 17.5 + 8.7 + 13.3 = 63.9 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [Sigma Advanced System Ltd](https://www.sectoralpha.in/stocks/sigma-advanced-system-ltd) SIGMAADV · leader · Evidence leans up · 78% evidence 58.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.4/35 · Revenue 100% · Profit 20.3% · Operating margin change 307 points · 83% evidence Capital efficiency 9.8/25 · ROCE 11.7% · Operating margin 16% · 76% evidence Valuation 6.9/20 · P/E 102× · PEG n/a · 50% evidence Relative strength 15.0/20 · Lead over its industry 96.2% · Lead over NIFTY 500 116.7% · 1 year 318.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 26.4 + 9.8 + 6.9 + 15 = 58.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Azad Engineering Ltd](https://www.sectoralpha.in/stocks/azad-engineering-ltd) AZAD · leader · Evidence leans up · 89% evidence 57.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.0/35 · Revenue 29% · Profit 41.4% · Operating margin change 1 points · 88% evidence Capital efficiency 12.6/25 · ROCE 11.9% · Operating margin 37% · 100% evidence Valuation 9.0/20 · P/E 114× · PEG 1.94 · 65% evidence Relative strength 14.9/20 · Lead over its industry 4.2% · Lead over NIFTY 500 24.6% · 1 year 44.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21 + 12.6 + 9 + 14.9 = 57.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Jaykay Enterprises Ltd](https://www.sectoralpha.in/stocks/jaykay-enterprises-ltd) JAYKAY · breaking out · Too little evidence to rank firmly · 51% evidence 56.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 34.3/43.75 · Revenue 100% · Profit 100% · Operating margin change 1.8 points · 83% evidence Capital efficiency 9.2/31.25 · ROCE 4.8% · Operating margin 14.2% · 76% evidence Valuation 12.9/25 · P/E 72.3× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 34.3 + 9.2 + 12.9 = 56.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Sika Interplant Systems Ltd](https://www.sectoralpha.in/stocks/sika-interplant-systems-ltd) SIKA · quiet · Evidence leans up · 81% evidence 55.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.1/35 · Revenue 0.5% · Profit 9.8% · Operating margin change 1.1 points · 88% evidence Capital efficiency 21.7/25 · ROCE 34.6% · Operating margin 19.5% · 100% evidence Valuation 12.9/20 · P/E 51.9× · PEG 1.01 · 100% evidence Relative strength 7.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -9.8% · 1 year -27.7% · 25% evidence · 5 of 12 weeks ahead Exact sum: 13.1 + 21.7 + 12.9 + 7.8 = 55.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Data Patterns (India) Ltd](https://www.sectoralpha.in/stocks/data-patterns-indialtd) DATAPATTNS · quiet · Evidence leans up · 96% evidence 55.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 33.9% · Profit 24.2% · Operating margin change -5 points · 88% evidence Capital efficiency 21.3/25 · ROCE 21.9% · Operating margin 27% · 100% evidence Valuation 7.4/20 · P/E 78.7× · PEG 3.94 · 100% evidence Relative strength 5.5/20 · Lead over its industry -9.4% · Lead over NIFTY 500 8.8% · 1 year 38.5% · 100% evidence · 5 of 12 weeks ahead Exact sum: 20.8 + 21.3 + 7.4 + 5.5 = 55 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [High Energy Batteries (India) Ltd](https://www.sectoralpha.in/stocks/high-energy-batteries-indialtd) losing its lead · Evidence leans up · 72% evidence 53.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 1.5% · Profit -3.5% · Operating margin change 32.4 points · 95% evidence Capital efficiency 19.5/25 · ROCE 20.4% · Operating margin 28.1% · 95% evidence Valuation 11.8/20 · P/E 27.3× · PEG n/a · 50% evidence Relative strength 8.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -2% · 1 year n/a · 25% evidence · 7 of 11 weeks ahead Exact sum: 12.9 + 19.5 + 11.8 + 8.9 = 53.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Hindustan Aeronautics Ltd](https://www.sectoralpha.in/stocks/hindustan-aeronautics-ltd) HAL · breaking out · Evidence leans up · 96% evidence 52.4 out of 100 Growth Capital Valuation Relative
12. [Dynamatic Technologies Ltd](https://www.sectoralpha.in/stocks/dynamatic-technologies-ltd) DYNAMATECH · breaking out · Evidence leans up · 79% evidence 50.9 out of 100 Growth Capital Valuation Relative
13. [Bharat Electronics Ltd](https://www.sectoralpha.in/stocks/bharat-electronics-ltd) BEL · turning · Evidence leans up · 100% evidence 50.8 out of 100 Growth Capital Valuation Relative
14. [Astra Microwave Products Ltd](https://www.sectoralpha.in/stocks/astra-microwave-products-ltd) ASTRAMICRO · quiet · Evidence leans down · 96% evidence 47.8 out of 100 Growth Capital Valuation Relative
15. Zen Technologies Ltd this page ZENTEC · turning · Evidence leans down · 60% evidence 47.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.2/35 · Revenue 4.2% · Profit -12.9% · Operating margin change 1 points · 95% evidence Capital efficiency 17.2/25 · ROCE 16.2% · Operating margin 38% · 76% evidence Valuation 10.6/20 · P/E 67.5× · PEG n/a · 15% evidence Relative strength 10.6/20 · Lead over its industry n/a · Lead over NIFTY 500 6.6% · 1 year 16.9% · 25% evidence · 4 of 12 weeks ahead Exact sum: 9.2 + 17.2 + 10.6 + 10.6 = 47.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 16. [Mishra Dhatu Nigam Ltd](https://www.sectoralpha.in/stocks/mishra-dhatu-nigam-ltd) MIDHANI · losing its lead · Evidence leans down · 96% evidence 42.5 out of 100 Growth Capital Valuation Relative
17. [AXISCADES Technologies Ltd](https://www.sectoralpha.in/stocks/axiscades-technologies-ltd) AXISCADES · breaking out · Evidence leans down · 89% evidence 41.6 out of 100 Growth Capital Valuation Relative
18. [BEML Ltd](https://www.sectoralpha.in/stocks/beml-ltd) BEML · breaking out · Evidence leans down · 88% evidence 40.9 out of 100 Growth Capital Valuation Relative
19. [Ideaforge Technology Ltd](https://www.sectoralpha.in/stocks/ideaforge-technology-ltd) IDEAFORGE · quiet · Evidence leans down · 71% evidence 39.8 out of 100 Growth Capital Valuation Relative
20. [Bharat Dynamics Ltd](https://www.sectoralpha.in/stocks/bharat-dynamics-ltd) BDL · basing · Evidence leans down · 96% evidence 35.6 out of 100 Growth Capital Valuation Relative
21. [Avantel Ltd](https://www.sectoralpha.in/stocks/avantel-ltd) AVANTEL · basing · Most evidence points down · 83% evidence 34.7 out of 100 Growth Capital Valuation Relative
22. [Aequs Ltd](https://www.sectoralpha.in/stocks/aequs-ltd) AEQUS · losing its lead · Too little evidence to rank firmly · 51% evidence 28.8 out of 100 Growth Capital Valuation Relative
23. [NIBE Ltd](https://www.sectoralpha.in/stocks/nibe-ltd) NIBE · quiet · Too little evidence to rank firmly · 53% evidence 27.8 out of 100 Growth Capital Valuation Relative
24. [DCX Systems Ltd](https://www.sectoralpha.in/stocks/dcx-systems-ltd) DCXINDIA · quiet · Most evidence points down · 61% evidence 23.8 out of 100 Growth Capital Valuation Relative
25. [Vinyas Innovative Technologies Ltd](https://www.sectoralpha.in/stocks/vinyas-innovative-technologies-ltd) VINYAS · turning · Too little evidence to rank firmly · 44% evidence 62.0 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Aerospace & Defence - Equipments](https://www.sectoralpha.in/sectors/aerospace-defence-equipments), all 25 compared on one page. ## Which companies are close to Zen Tech in size? Zen Tech is the 11th largest of 25 Aerospace & Defence - Equipments companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Azad Engineering, Apollo Micro Systems and Astra Microwave Products. Just below it: Aequs, Paras Defence and Space Technologies and AXISCADES Technologies. ### Aerospace & Defence - Equipments companies close in size

1. [Azad Engineering Ltd](https://www.sectoralpha.in/stocks/azad-engineering-ltd) ₹15,792 crore
2. [Apollo Micro Systems Ltd](https://www.sectoralpha.in/stocks/apollo-micro-systems-ltd) ₹14,818 crore
3. [Astra Microwave Products Ltd](https://www.sectoralpha.in/stocks/astra-microwave-products-ltd) ₹14,381 crore
4. Zen Technologies Ltd ₹14,342 crore
5. [Aequs Ltd](https://www.sectoralpha.in/stocks/aequs-ltd) ₹14,289 crore
6. [Paras Defence and Space Technologies Ltd](https://www.sectoralpha.in/stocks/paras-defence-and-space-technologies-ltd) ₹10,071 crore
7. [AXISCADES Technologies Ltd](https://www.sectoralpha.in/stocks/axiscades-technologies-ltd) ₹7,979 crore

[All 25 Aerospace & Defence - Equipments companies, largest first](https://www.sectoralpha.in/sectors/aerospace-defence-equipments#all-companies)

### Companies close in size in other industries

1. [Honasa Consumer Ltd](https://www.sectoralpha.in/stocks/honasa-consumer-ltd) ₹14,414 crore · New age - Platform - E-Retail
2. [Astra Microwave Products Ltd](https://www.sectoralpha.in/stocks/astra-microwave-products-ltd) ₹14,381 crore · Aerospace & Defence - Equipments
3. Zen Technologies Ltd ₹14,342 crore
4. [Aequs Ltd](https://www.sectoralpha.in/stocks/aequs-ltd) ₹14,289 crore · Aerospace & Defence - Equipments
5. [Kansai Nerolac Paints Ltd](https://www.sectoralpha.in/stocks/kansai-nerolac-paints-ltd) ₹14,259 crore · Building Materials - Paints

## What else do people ask about Zen Tech? ### What is Zen Tech's share price today? Zen Technologies Ltd's share price is ₹1,710.60, +26.0% over the past year. The whole company is worth ₹15,449 Cr on the market. In the last 52 weeks it traded between ₹1,288 to ₹1,997; today it is 60% of the way up from the low, 4.3% above its 200-day average (as of 3 November 2026). ### What were Zen Tech's latest quarterly results? Zen Technologies Ltd reported revenue of ₹345 Cr and net profit of ₹102 Cr for the Sep 2026 quarter. Revenue rose 98.3% and profit rose 64.5% compared with a year earlier. Earnings per share were ₹9.92. The operating margin was 38.0%, 1.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Zen Tech's market cap? Zen Technologies Ltd's market capitalisation is ₹15,449 Cr at a share price of ₹1,710.60. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Zen Tech performing? Zen Technologies Ltd's share price has been rising for 27 weeks. In its latest quarter, revenue rose 98.3% and profit rose 64.5% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 2 weeks running (as of 3 November 2026). ### Will Zen Tech's share price go up? This page does not forecast Zen Technologies Ltd's share price. What it shows instead: the share price is ₹1,710.60, and it has been rising for 27 weeks. Its P/E of 72.7× is higher than 46% of its own last 11 years (as of 3 November 2026). ### Who owns Zen Tech? Promoters own 48.5% of Zen Technologies Ltd, foreign institutions 6.6%, domestic institutions 10.8% and the public 33.6% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 2.8 percentage points over 8 quarters (as of 3 November 2026). ### Where is Zen Tech in its business cycle? Zen Technologies Ltd's FY26 operating margin was 36.0%, against a 13-year range of 1.3% to 42.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 38.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Zen Tech story? The main question: profits are rising, but only 45% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Zen Tech a stock worth studying right now? What the numbers show: Zen Technologies Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Zen Tech share price forecast for 2026? What management itself guided: FY27 full-year operational operating margin in the mid-30s versus a 35.0% guide. ## Lists

- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Defence stocks: https://www.sectoralpha.in/sectors/aerospace-defence-equipments

This is research, not advice. We’re not SEBI-registered.