Zensar Technologies Ltd

Zensar Technologies Ltd

₹ 493 -3.09%
13 May - close price
About

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]

Key Points

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.

  • Market Cap 11,217 Cr.
  • Current Price 493
  • High / Low 895 / 490
  • Stock P/E 14.1
  • Book Value 207
  • Dividend Yield 2.64 %
  • ROCE 23.5 %
  • ROE 18.1 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 19.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 37.6%

Cons

  • The company has delivered a poor sales growth of 8.51% over past five years.
  • Working capital days have increased from 61.2 days to 126 days

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
1,213 1,227 1,241 1,204 1,230 1,288 1,308 1,326 1,359 1,385 1,421 1,431 1,450
1,037 997 1,010 996 1,027 1,092 1,107 1,119 1,146 1,174 1,201 1,181 1,215
Operating Profit 176 230 231 208 203 196 201 207 212 211 220 250 236
OPM % 14% 19% 19% 17% 17% 15% 15% 16% 16% 15% 15% 17% 16%
27 28 36 42 52 42 41 31 46 57 49 38 66
Interest 6 6 6 6 3 4 4 4 5 4 4 2 2
Depreciation 35 42 37 31 24 25 30 24 24 23 25 20 23
Profit before tax 162 210 225 212 229 210 208 210 230 241 240 265 276
Tax % 26% 26% 23% 24% 24% 25% 25% 24% 23% 24% 24% 25% 24%
119 156 174 162 173 158 156 160 176 182 182 200 211
EPS in Rs 5.27 6.90 7.68 7.14 7.65 6.97 6.86 7.04 7.77 8.01 8.01 8.79 9.26
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,656 2,952 3,056 3,108 3,966 4,182 3,781 4,244 4,848 4,902 5,281 5,687
2,264 2,513 2,674 2,743 3,487 3,675 3,097 3,587 4,296 4,030 4,464 4,771
Operating Profit 392 439 382 365 479 507 685 656 552 872 817 916
OPM % 15% 15% 12% 12% 12% 12% 18% 15% 11% 18% 15% 16%
27 54 24 74 93 88 -24 138 103 159 160 209
Interest 11 11 9 23 37 61 54 35 28 21 17 12
Depreciation 42 65 49 65 89 159 175 185 183 134 102 91
Profit before tax 366 417 349 352 445 376 433 574 444 876 858 1,022
Tax % 28% 30% 32% 30% 28% 28% 29% 27% 26% 24% 24% 24%
265 292 238 246 319 272 307 422 328 665 650 775
EPS in Rs 11.94 12.97 10.47 10.74 13.93 11.69 13.30 18.40 14.47 29.34 28.61 34.05
Dividend Payout % 18% 18% 23% 22% 20% 24% 27% 27% 35% 31% 45% 37%
Compounded Sales Growth
10 Years: 7%
5 Years: 9%
3 Years: 5%
TTM: 8%
Compounded Profit Growth
10 Years: 11%
5 Years: 19%
3 Years: 36%
TTM: 27%
Stock Price CAGR
10 Years: 10%
5 Years: 13%
3 Years: 13%
1 Year: -36%
Return on Equity
10 Years: 16%
5 Years: 17%
3 Years: 18%
Last Year: 18%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 44 45 45 45 45 45 45 45 45 45 45 45
Reserves 1,113 1,220 1,427 1,624 1,897 2,045 2,297 2,642 2,931 3,517 4,024 4,674
176 149 134 9 300 332 350 335 273 186 125 79
402 455 500 618 847 1,174 742 817 872 899 978 1,285
Total Liabilities 1,734 1,869 2,106 2,296 3,090 3,596 3,433 3,840 4,121 4,648 5,173 6,084
547 386 447 592 950 1,323 1,133 1,254 1,174 1,034 1,170 1,398
CWIP 1 2 3 6 12 11 0 1 0 5 1 1
Investments 94 134 243 275 115 278 517 324 899 1,408 1,714 1,921
1,092 1,347 1,413 1,424 2,013 1,983 1,783 2,260 2,049 2,200 2,288 2,764
Total Assets 1,734 1,869 2,106 2,296 3,090 3,596 3,433 3,840 4,121 4,648 5,173 6,084

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
321 255 304 206 156 686 858 336 714 642 565 771
-182 -41 -204 -142 -229 -315 -530 3 -527 -476 -473 -241
-87 -129 -50 -204 201 -197 -467 -183 -219 -197 -264 -401
Net Cash Flow 51 85 50 -140 128 175 -139 156 -31 -31 -172 129
Free Cash Flow 283 212 269 154 104 608 819 279 681 627 530 719
CFO/OP 107% 82% 107% 85% 61% 158% 146% 74% 146% 100% 96% 105%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 62 67 64 75 81 58 57 69 55 55 55 59
Inventory Days 266 304
Days Payable 283 400
Cash Conversion Cycle 45 -29 64 75 81 58 57 69 55 55 55 59
Working Capital Days 41 56 49 70 57 20 19 36 21 27 30 126
ROCE % 30% 31% 24% 23% 23% 18% 21% 21% 15% 25% 21% 24%

Insights

In beta
Mar 2023 Mar 2024 Mar 2025
Employee Utilization (Excluding Trainees)
%

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Number of Active Clients
Number
Revenue Mix - Offshore
%
Total Headcount
Number
Total Order Book (TCV)
USD Million
Voluntary Attrition (Last Twelve Months)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
49.21% 49.20% 49.20% 49.18% 49.17% 49.14% 49.10% 49.07% 49.06% 49.03% 49.01% 49.01%
12.59% 16.66% 17.12% 16.53% 15.74% 14.84% 15.06% 14.98% 14.56% 13.30% 11.80% 10.51%
17.30% 16.55% 16.45% 17.53% 19.04% 19.05% 19.83% 19.89% 20.52% 22.24% 23.12% 23.66%
20.89% 17.59% 17.23% 16.77% 16.06% 16.98% 16.01% 16.06% 15.85% 15.43% 15.71% 16.48%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.34% 0.34%
No. of Shareholders 1,97,8262,17,6992,25,6572,16,9352,01,7772,17,2182,03,5922,25,5022,10,0632,01,8722,04,0252,06,187

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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