Zen Technologies Ltd

₹ 192 -1.21%
03 Oct - 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 1,527 Cr.
  • Current Price 192
  • High / Low 258 / 144
  • Stock P/E 148
  • Book Value 25.9
  • Dividend Yield 0.05 %
  • ROCE 2.40 %
  • 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 23.6%

Cons

  • Stock is trading at 7.42 times its book value
  • The company has delivered a poor sales growth of 2.52% over past five years.
  • Company has a low return on equity of 11.4% over last 3 years.
  • Earnings include an other income of Rs.6.52 Cr.
  • Company has high debtors of 166 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

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
48.92 47.59 32.99 19.79 4.16 12.35 16.57 21.55 9.96 15.75 16.26 27.78 37.07
25.88 25.91 18.83 16.04 5.85 9.72 13.21 18.47 10.97 15.91 15.34 22.96 26.28
Operating Profit 23.04 21.68 14.16 3.75 -1.69 2.63 3.36 3.08 -1.01 -0.16 0.92 4.82 10.79
OPM % 47.10% 45.56% 42.92% 18.95% -40.62% 21.30% 20.28% 14.29% -10.14% -1.02% 5.66% 17.35% 29.11%
0.28 0.26 0.42 1.04 0.69 0.71 0.73 0.89 0.75 0.97 1.02 2.36 2.17
Interest 1.04 0.74 0.58 0.99 0.13 0.50 0.17 0.29 0.16 0.27 0.44 0.66 0.65
Depreciation 0.97 1.33 1.09 1.19 1.24 1.22 1.23 1.26 1.25 1.18 1.20 1.21 1.63
Profit before tax 21.31 19.87 12.91 2.61 -2.37 1.62 2.69 2.42 -1.67 -0.64 0.30 5.31 10.68
Tax % 27.03% 28.64% 24.40% -632.18% 27.00% 43.21% 34.94% 24.38% 5.99% -15.62% 173.33% 3.01% 34.27%
Net Profit 15.56 14.18 9.77 19.12 -1.74 0.92 1.75 1.83 -1.58 -0.74 -0.23 5.14 7.03
EPS in Rs 2.04 1.86 1.33 2.40 -0.17 0.10 0.29 0.17 -0.14 -0.00 -0.02 0.42 0.94
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
52 17 102 37 46 79 53 62 92 149 55 70 97
35 25 65 33 46 58 48 50 76 87 47 65 80
Operating Profit 18 -8 37 5 1 21 4 11 17 63 7 5 16
OPM % 34% -46% 36% 12% 1% 27% 8% 18% 18% 42% 14% 7% 17%
3 8 5 5 4 3 5 4 3 2 3 5 7
Interest 0 1 2 2 2 2 2 2 5 3 1 2 2
Depreciation 1 1 1 2 2 2 4 4 4 5 5 5 5
Profit before tax 20 -3 39 6 0 20 3 9 11 57 4 3 16
Tax % 15% 29% 20% 15% 25% 21% 21% 20% -19% -3% 36% 21%
Net Profit 17 -2 32 5 0 16 2 7 13 59 3 3 11
EPS in Rs 1.89 -0.24 3.55 0.53 0.01 2.04 0.30 0.93 1.73 7.62 0.39 0.25 1.34
Dividend Payout % 24% -64% 18% 19% 1,103% 17% 33% 16% 17% 5% 26% 40%
Compounded Sales Growth
10 Years: -4%
5 Years: 3%
3 Years: -9%
TTM: 60%
Compounded Profit Growth
10 Years: -24%
5 Years: -22%
3 Years: -46%
TTM: 276%
Stock Price CAGR
10 Years: 35%
5 Years: 32%
3 Years: 46%
1 Year: -11%
Return on Equity
10 Years: %
5 Years: %
3 Years: 11%
Last Year: 1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022
9 9 9 9 8 8 8 8 8 8 8 8
Reserves 73 70 95 98 91 103 105 112 123 179 196 198
17 13 25 13 18 40 41 11 42 3 2 15
21 12 29 5 12 27 14 15 46 25 17 148
Total Liabilities 119 104 158 126 128 177 167 146 218 214 223 369
28 28 29 29 49 47 44 45 63 73 70 66
CWIP 5 0 1 3 1 0 15 17 0 0 0 3
Investments 0 0 0 0 0 0 0 0 8 2 2 2
86 76 128 94 78 130 108 84 147 139 152 298
Total Assets 119 104 158 126 128 177 167 146 218 214 223 369

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022
7 -2 -2 39 10 -20 0 0 -49 62 6 -44
-2 -3 -1 -3 -8 -4 0 0 13 -12 -10 -44
1 -10 7 -20 -7 20 0 0 5 -12 9 88
Net Cash Flow 7 -15 5 15 -5 -4 0 0 -32 38 5 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 217 424 255 127 90 276 56 121 290 114 124 166
Inventory Days 109 1,318 59 212 295 225 242 237 496 137 609 693
Days Payable 52 675 76 55 63 47 52 92 114 44 132 109
Cash Conversion Cycle 274 1,066 238 284 322 455 246 265 672 206 601 750
Working Capital Days 179 458 188 235 143 281 138 167 295 194 540 686
ROCE % 23% -2% 37% 6% 2% 16% 3% 8% 33% 3% 2%

Shareholding Pattern

Numbers in percentages

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022
59.53 59.54 59.56 59.56 58.30 60.19 60.19 60.19 60.19 60.19 60.19 60.19
0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.35 0.29 0.32
0.10 0.29 0.24 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
40.36 40.17 40.20 40.42 41.70 39.81 39.80 39.81 39.80 39.46 39.52 39.13
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35

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