Zensar Technologies Ltd
Zensar Technologies is a leading digital solutions and technology services company. It is a part of the Mumbai-based RPG group and is headquartered in Pune, India. It operates in two segments: Application Management Service and Infrastructure management service. It is focused on industry verticals, such as Hitech & manufacturing, consumer services, and banking, financial services, and insurance. They have offices located in India, the USA, UK, Europe, and Africa. [1] [2]
- Market Cap ₹ 12,742 Cr.
- Current Price ₹ 560
- High / Low ₹ 895 / 536
- Stock P/E 16.8
- Book Value ₹ 188
- Dividend Yield 2.32 %
- ROCE 21.3 %
- ROE 16.4 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 36.9%
Cons
- The company has delivered a poor sales growth of 4.78% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,335 | 2,656 | 2,952 | 3,056 | 3,108 | 3,966 | 4,182 | 3,781 | 4,244 | 4,848 | 4,902 | 5,281 | 5,596 | |
| 1,977 | 2,264 | 2,513 | 2,674 | 2,743 | 3,487 | 3,689 | 3,097 | 3,587 | 4,296 | 4,030 | 4,464 | 4,703 | |
| Operating Profit | 358 | 392 | 439 | 382 | 365 | 479 | 493 | 685 | 656 | 552 | 872 | 817 | 893 |
| OPM % | 15% | 15% | 15% | 12% | 12% | 12% | 12% | 18% | 15% | 11% | 18% | 15% | 16% |
| 30 | 27 | 54 | 24 | 74 | 93 | 88 | -24 | 138 | 103 | 159 | 160 | 190 | |
| Interest | 10 | 11 | 11 | 9 | 23 | 37 | 61 | 54 | 35 | 28 | 21 | 17 | 14 |
| Depreciation | 38 | 42 | 65 | 49 | 65 | 89 | 159 | 175 | 185 | 183 | 134 | 102 | 92 |
| Profit before tax | 340 | 366 | 417 | 349 | 352 | 445 | 362 | 433 | 574 | 444 | 876 | 858 | 976 |
| Tax % | 30% | 28% | 30% | 32% | 30% | 28% | 25% | 29% | 27% | 26% | 24% | 24% | |
| 238 | 265 | 292 | 238 | 246 | 319 | 272 | 307 | 422 | 328 | 665 | 650 | 740 | |
| EPS in Rs | 10.86 | 11.94 | 12.97 | 10.47 | 10.74 | 13.93 | 11.69 | 13.30 | 18.40 | 14.47 | 29.34 | 28.61 | 32.58 |
| Dividend Payout % | 18% | 18% | 18% | 23% | 22% | 20% | 24% | 27% | 27% | 35% | 31% | 45% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 5% |
| 3 Years: | 8% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 20% |
| 3 Years: | 15% |
| TTM: | 17% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 16% |
| 3 Years: | 25% |
| 1 Year: | -29% |
| Return on Equity | |
|---|---|
| 10 Years: | 16% |
| 5 Years: | 16% |
| 3 Years: | 16% |
| Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 44 | 44 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 46 |
| Reserves | 902 | 1,113 | 1,220 | 1,427 | 1,624 | 1,897 | 2,045 | 2,297 | 2,642 | 2,931 | 3,517 | 4,024 | 4,234 |
| 170 | 176 | 149 | 134 | 9 | 300 | 332 | 350 | 335 | 273 | 186 | 125 | 117 | |
| 370 | 402 | 455 | 500 | 618 | 847 | 1,174 | 742 | 817 | 872 | 899 | 978 | 1,016 | |
| Total Liabilities | 1,486 | 1,734 | 1,869 | 2,106 | 2,296 | 3,090 | 3,596 | 3,433 | 3,840 | 4,121 | 4,648 | 5,173 | 5,412 |
| 422 | 547 | 386 | 447 | 592 | 950 | 1,323 | 1,133 | 1,254 | 1,174 | 1,034 | 1,170 | 1,184 | |
| CWIP | 2 | 1 | 2 | 3 | 6 | 12 | 11 | 0 | 1 | 0 | 5 | 1 | 6 |
| Investments | 149 | 94 | 134 | 243 | 275 | 115 | 278 | 517 | 324 | 899 | 1,408 | 1,714 | 1,594 |
| 914 | 1,092 | 1,347 | 1,413 | 1,424 | 2,013 | 1,983 | 1,783 | 2,260 | 2,049 | 2,200 | 2,288 | 2,628 | |
| Total Assets | 1,486 | 1,734 | 1,869 | 2,106 | 2,296 | 3,090 | 3,596 | 3,433 | 3,840 | 4,121 | 4,648 | 5,173 | 5,412 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 209 | 321 | 255 | 304 | 206 | 156 | 686 | 858 | 336 | 714 | 642 | 565 | |
| -128 | -182 | -41 | -204 | -142 | -229 | -315 | -530 | 3 | -527 | -476 | -473 | |
| -77 | -87 | -129 | -50 | -204 | 201 | -197 | -467 | -183 | -219 | -197 | -264 | |
| Net Cash Flow | 4 | 51 | 85 | 50 | -140 | 128 | 175 | -139 | 156 | -31 | -31 | -172 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 56 | 62 | 67 | 64 | 75 | 81 | 58 | 57 | 69 | 55 | 55 | 55 |
| Inventory Days | 272 | 266 | 304 | |||||||||
| Days Payable | 300 | 283 | 400 | |||||||||
| Cash Conversion Cycle | 28 | 45 | -29 | 64 | 75 | 81 | 58 | 57 | 69 | 55 | 55 | 55 |
| Working Capital Days | 44 | 41 | 56 | 49 | 70 | 57 | 20 | 19 | 36 | 21 | 27 | 30 |
| ROCE % | 34% | 30% | 31% | 24% | 23% | 23% | 17% | 21% | 21% | 15% | 25% | 21% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Credit Rating
2d - NSE Sustainability assigned Zensar ESG score 80 ('Leader') for FY2024–25; report received Feb 17, 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
12 Feb - 5.5-year framework deal worth $210 million with major financial client for AI-led automation, technical and professional services.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
6 Feb - Newspaper Publication in respect of a special window opened for lodgement of transfer and dematerialisation (''demat'') request(s)
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Rumour verification - Regulation 30(11)
3 Feb - Zensar denies needing disclosure regarding $900mn Mastek bid rumor (Times of India), Feb 3, 2026.
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Clarification sought from Zensar Technologies Ltd
3 Feb - Exchange has sought clarification from Zensar Technologies Ltd on February 03, 2026, with reference to news appeared in https://timesofindia.indiatimes.com dated February 3, 2026 quoting "Zensar …
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Group Overview[1]
Zensar is part of the RPG Enterprises. The group has diverse business interests in the areas of Infrastructure, Tyres, Pharma, IT and Specialty as well as in emerging innovation-led technology businesses.