Zen Technologies, a leading anti-drone technology and defence training solutions provider, witnessed a 5% rise in its shares following the announcement of receiving an export order valued at approximately Rs 42 crore.
As of 11 am, the stock was trading with a gain of 5% at Rs 758.55 apiece. The company’s shares have witnessed a remarkable surge of 305% in the current year, marking its best yearly performance since its listing in 2016.
The company said in an exchange filing dated November 18 that the order is from an unnamed friendly nation and comprises state-of-the-art simulators, aligning with India’s goal to become a net defence exporter.
The company has been consistently winning significant orders from the Ministry of Defence (MoD), Government of India. These orders are attributed to initiatives such as Make in India, ‘Atmanirbharata,’ Buy Indian IDDM, Simulation Framework, and the government’s commitment to sustainability.
In October, Zen Technologies secured an order worth around Rs 100 crore from the MoD for its Force-On-Force tank training system. In September, it won a substantial contract worth Rs 227.85 crore for the supply of Anti-Drone systems. As of September 30, 2023, the company holds an order book status of Rs 1,403 crore.
Zen Technologies specialises in the design, development, and manufacturing of defence training systems, drones, and anti-drone solutions based on sensor and simulator technology. With over three decades of expertise, the company has filed for over 130 patents and successfully shipped more than 1,000 training systems worldwide.