Zen Technologies Ltd

₹ 202 1.51%
05 Dec - close price
About

Zen Technologies Limited was incorporated in 1996. The co. designs develop and manufacture combat training solutions for the training of defense and security forces. It is actively involved in the indigenization of technologies, which are beneficial to Indian armed forces, state police forces, and paramilitary forces.
Zen Technologies is headquartered in Hyderabad, India with offices in India and the USA. [1] [2] [3]

Key Points

Product Portfolio
Simulators (87% in FY20 vs 76% in FY19): Co is engaged in designing, developing, and manufacturing Training Simulators for Police and Paramilitary Forces, Armed Forces, Security Forces, etc. The products of the company are divided into 3 major categories viz. Land-based Military Simulators, Driving Simulators, and Mining & Special Equipment Simulators.
Product Services (13% in FY20 vs 24% in FY19) : Co. produces over 40 different Live Fire, Live Instrumented, Virtual, and Constructive training systems to support individual and collective training capabilities. [1] [2] [3] [4]

  • Market Cap 1,608 Cr.
  • Current Price 202
  • High / Low 258 / 144
  • Stock P/E 110
  • Book Value 38.3
  • Dividend Yield 0.05 %
  • ROCE 1.61 %
  • ROE 1.02 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 21.3%

Cons

  • Stock is trading at 5.29 times its book value
  • The company has delivered a poor sales growth of -2.83% over past five years.
  • Company has a low return on equity of 11.5% over last 3 years.
  • Earnings include an other income of Rs.8.24 Cr.
  • Working capital days have increased from 519 days to 830 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

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
47.12 32.36 18.71 4.16 10.62 15.88 18.91 9.13 16.25 12.36 15.97 33.23 21.13
24.59 17.51 16.87 5.05 8.39 11.81 16.57 9.18 15.12 11.33 16.06 22.01 15.74
Operating Profit 22.53 14.85 1.84 -0.89 2.23 4.07 2.34 -0.05 1.13 1.03 -0.09 11.22 5.39
OPM % 47.81% 45.89% 9.83% -21.39% 21.00% 25.63% 12.37% -0.55% 6.95% 8.33% -0.56% 33.76% 25.51%
0.26 0.42 0.94 0.69 0.71 0.71 0.80 0.74 0.96 0.97 2.32 2.15 2.80
Interest 0.69 0.55 0.94 0.11 0.48 0.15 0.25 0.14 0.22 0.43 0.62 0.59 0.65
Depreciation 0.93 0.93 0.96 1.01 1.00 1.00 0.98 0.99 0.92 0.92 0.90 0.92 0.96
Profit before tax 21.17 13.79 0.88 -1.32 1.46 3.63 1.91 -0.44 0.95 0.65 0.71 11.86 6.58
Tax % 27.40% 24.00% -1,923.86% 48.48% 47.26% 25.90% 30.89% 22.73% 10.53% 80.00% -97.18% 30.86% 30.40%
Net Profit 15.37 10.48 17.81 -0.69 0.77 2.69 1.33 -0.34 0.85 0.12 1.40 8.21 4.58
EPS in Rs 1.99 1.36 2.31 -0.09 0.10 0.34 0.17 -0.04 0.11 0.02 0.18 1.03 0.58
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
17 102 37 46 79 53 62 39 92 147 50 54 83
25 65 33 46 58 48 50 41 70 83 42 52 65
Operating Profit -8 37 5 1 21 4 12 -2 23 64 8 2 18
OPM % -46% 36% 12% 1% 27% 8% 19% -5% 24% 43% 16% 4% 21%
8 5 5 4 3 5 4 4 3 2 3 5 8
Interest 1 2 2 2 2 2 3 2 5 3 1 1 2
Depreciation 1 1 2 2 2 4 4 3 4 4 4 4 4
Profit before tax -3 39 6 0 20 3 9 -3 17 59 6 2 20
Tax % 29% 20% 15% 18% 21% 21% 20% 86% -13% -3% 28% -9%
Net Profit -2 32 5 0 16 2 7 -0 19 61 4 2 14
EPS in Rs -0.23 3.55 0.53 0.01 2.04 0.30 0.96 -0.05 2.49 7.84 0.52 0.25 1.81
Dividend Payout % -64% 18% 19% 858% 2% 33% 16% -198% 12% 5% 19% 39%
Compounded Sales Growth
10 Years: -6%
5 Years: -3%
3 Years: -16%
TTM: 37%
Compounded Profit Growth
10 Years: -23%
5 Years: -22%
3 Years: -52%
TTM: 221%
Stock Price CAGR
10 Years: 38%
5 Years: 14%
3 Years: 53%
1 Year: -1%
Return on Equity
10 Years: 8%
5 Years: 10%
3 Years: 11%
Last Year: 1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
9 9 9 8 8 8 8 8 8 8 8 8 8
Reserves 70 95 98 91 103 105 112 111 129 187 205 206 296
13 25 13 18 40 41 9 10 42 1 1 12 15
10 25 5 12 27 14 16 36 45 18 10 131 75
Total Liabilities 102 153 126 128 178 167 144 165 224 213 224 358 394
28 28 29 49 47 44 45 65 63 64 62 59 60
CWIP 0 1 3 1 0 15 17 0 0 0 0 3 5
Investments 0 0 0 0 0 0 0 2 13 16 24 24 27
73 124 94 78 130 108 82 98 147 133 137 272 303
Total Assets 102 153 126 128 178 167 144 165 224 213 224 358 394

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-2 -4 39 10 0 43 5 19 -44 64 13 -44
-3 1 -3 -8 0 -9 30 -12 7 -11 -18 -43
-10 7 -21 -7 0 -3 -8 -5 5 -21 10 87
Net Cash Flow -15 5 15 -5 0 30 26 3 -32 32 5 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 424 255 127 90 276 56 120 212 290 110 128 133
Inventory Days 314 59 212 295 225 242 237 1,181 496 97 396 625
Days Payable 100 75 53 63 47 52 89 355 106 48 114 147
Cash Conversion Cycle 638 240 286 322 455 246 267 1,038 681 159 410 612
Working Capital Days 441 189 236 143 281 138 150 80 295 180 548 830
ROCE % -2% 37% 6% 2% 16% 3% 9% -0% 14% 33% 3% 2%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
59.54 59.56 59.56 58.30 60.19 60.19 60.19 60.19 60.19 60.19 60.19 60.19
0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.35 0.29 0.32 0.33
0.29 0.24 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.11
40.17 40.20 40.42 41.70 39.81 39.80 39.81 39.80 39.46 39.52 39.13 39.03
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35 0.35

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

Documents

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