Zensar Technologies Share Price

Zensar Tech.

CMP as on 14-Oct-21 15:59

₹ 508.35
12.75 2.57%

Open

₹ 501.00

Turnover (lac)

₹ 10,129

Prev. Close

₹ 495.60

Day's Vol (shares)

₹ 19,92,462

Day's Range (₹)

₹ 501.00
₹ 523.60

CMP as on14-Oct-21 15:59

₹ 508.55
13.15 2.65%

Open

₹ 501.65

Turnover (lac)

₹ 126

Prev. Close

₹ 495.40

Day's Vol (shares)

₹ 79,131

Day's Range

₹ 501.65
₹ 523.05

Zensar Technologies Ltd. was incorporated in March 26, 1963. The Company is a leading digital solutions and technology services company that specializes in partnering with global organizations across industries on their Digital Transformation journeys. It was promoted by its foreign collaborators ICL, UK; Fujitsu, Japan; and Northern Telecom, Canada. The Company is engaged in providing a complete range of IT Services and Solutions. The company manufactures and markets computer hardware and software. Its chief products are digital computer systems including peripherals. The company manufactures the entire range of hardware products, ranging from PCs to mainframe computers. It has entered into collaborations with Fujitsu, Japan, and Genicom, US, to manufacture line printers. The company tied up with Sun Micro Systems, the world leader in Unix workstations and servers.In 1988, ICL entered into an agreement with RPG Enterprises to jointly manage the company. RPG Enterprises provides management support to ICIM. It has changed the name of its subsidiary companies, International Computer (india), ICIM International Inc & ICIL Singapore Pte to Zenstar Technologies, Zenstar Technologies Inc & Zenstar Technologies (Singapore).In 1999, the company sold SES business to Accel Ltd, for a total purchase consideration of Rs 11.34 cr & also has taken over the liabilities under various leasing agreement relating to equipment rented out to customers. In Mar. 2001, the Board of Directors of Fujitsu ICIM and Zensar Technologies have approved the merger of the two companies at a share swap ratio of 1:1, which translates into one share of Zensar Technologies for each share held in Fujitsu ICIM. Hence, the name of the company was changed to Zensar Technologies Ltd. As the Chinese economy is gearing up and the business opportunities are growing more and more the company has decided to enter into a JV with New Jade Tech Ltd a subsidiary of Asia Logistics Ltd a Hongkong SE listed company. The joint venture will operate from the Software Technology Park of Zhuhai near Hongkong. The company is also planning to set up a branch in Finland to cater to customers in the Scandinavian region. The process is underway and is expected to be completed shortly.The company has signed a share purchase agreement on December 12 2005, for acquiring entire equity stake of OBT Global, a Hyderabad based company. Further Zensar Technologies Inc., the companys wholly owned US subisidiary, would be acquiring the entire common stock of OBT Global Inc USA, an affiliate of OBT Global,in an all cash transaction. The newly acquired companies are engaged in SAP solutions specifically focused on the Indian industry verticals of textile, healthcare and pharmacy.The wholly owned subsidiary company in UK acquired one of Europes leading experience design agencies Foolproof Limited headquartered in London along with its two wholly owned subsidiary companies in UK and one wholly owned subsidiary Company in Singapore in November, 2016.The wholly owned subsidiary company in USA acquired Keystone Logic Inc. a leading Omnichannel and Digital Supply Chain Company, headquartered in Atlanta, USA in March 2017. Further, the Company entered into a definitive agreement to acquire the business of Keystone Logic Solutions Private Limited on March 30, 2017.During FY 2018, the Company incorporated three wholly owned subsidiaries in India viz. Zensar Information Technologies Limited, Zensar Software Technologies Limited and Zensar IT Services Limited. Further, wholly owned subsidiary company of the Company, viz. Zensar Technologies (Singapore) Pte. Ltd. in Singapore incorporated, wholly owned subsidiary viz. Zensar Info Technologies (Singapore) Pte. Ltd. in Singapore. The Board of Directors at its meeting held on 14th March 2018, approved transfer of business in certain geographies to Zensar Information Technologies Limited and Zensar Software Technologies Limited, by way of slump sale. Further, the Board of Directors of wholly owned subsidiary company of the Company, viz. Zensar Technologies (Singapore) Pte. Ltd. in Singapore approved transfer of its business to wholly owned subsidiary viz. Zensar Info Technologies (Singapore) Pte. Ltd in Singapore by way of slump sale. The relevant disclosures in this behalf were filed with the Stock Exchanges. On 21st March 2018, the Company had entered into definitive agreement for acquisition of Cynosure Interface Services India Pvt. Ltd. An agreement to acquire Cynosure Inc., USA was entered into by Zensar Technologies Inc. USA a wholly owned subsidiary of the Company, on the same day.In July 2018, Zensar Technologies Inc., USA wholly owned subsidiary of the Company, entered into definitive agreement for acquisition of 100% shareholding of Indigo Slate, Inc USA. In January 2019, Company along with Zensar Information Technologies Limited and Zensar Software Technologies Limited (wholly owned subsidiaries of the Company) respectively, entered in to definitive agreement(s) for sale of 100% of the share capital of these wholly owned subsidiaries to Lorhan IT Services Private Limited. (a wholly owned subsidiary of First Tek Inc.)As of March 31, 2019, the Company has 23 subsidiaries. Its business operations are spread across countries, with offices in 29 locations with presence in the key regions of US, Europe, Africa, Middle East, India and APAC. As of March 31, 2020, the Company has 24 subsidiaries under its roof. Its business operations are spread across countries, with offices in 29 locations with presence in the key regions of US, Europe, Africa, Middle East, India and APAC. Zensar recognized as an Aspirant in BFS Risk and Compliance IT Services Everest PEAK Matrixr Assessment 2020. Zensar recognized as an Aspirant in Open Banking IT Services in Everest Peak Matrix AssessmentT 2020. Zensar named Niche Player in the 2020 Gartner Magic Quadrant for Data Center Outsourcing and Hybrid Infrastructure Managed Services, North America. During the quarter ended 30th September 2020, in line with its strategy to focus on core businesses only, the Company had advanced its process to identify potential buyers for Third Party Maintenance (TPM) business housed in its subsidiaries, PSI Holding Group Inc, Zensar Technologies IM Inc and Zensar Technologies IM B.V. (collectively referred to as PSI Group or disposal group). Subsequently, on 19th October 2020, the Company signed an agreement subject to approval of shareholders and other approvals for sale of PSI Group for a consideration of USD 10 million receivable upfront and USD 5 million performance based deferred earnouts.The Board of Directors of Zensar Technologies Limited at its meeting held on October 29, 2020 approved the scheme of amalgamation (the Scheme) which provides for the amalgamation of Cynosure Interface Services Private Limited (Cynosure) (a wholly owned subsidiary of the Company) with the Company under sections 230 to 232 and other applicable provisions of the Companies Act, 2013. The Appointed date of the Scheme is April 1, 2021. All the equity shares held by the company in Cynosure shall stand cancelled and extinguished as on the Appointed Date. Accordingly, there will be no issue and allotment of equity shares to the shareholders of the Cynosure upon the Scheme being effective.Zensar Technologies Inc. invested in Aquila Technology Corp (Aquila) as part of the group acquisition of PSI Holding Group Inc (PSI) in 2010. A service agreement between Aquila and a customer of Aquila required independence, separation of its operations and lack of interdependence of Aquila on its related affiliates/parent. Accordingly, this led to loss of control over Aquila for the Zensar Group, consequently Aquila is not considered as a subsidiary of the Zensar group within the definition prescribed under Ind AS 110 and hence not consolidated by the Zensar Group.During the quarter ended 31 December 2020, Company had advanced its process of divesting its investment in Aquila Technology Corp (Aquila).On 25 February 2021, the Company signed an agreement for sale of its investment in Aquila for a consideration of USD 1.31 million receivable upfront (subject to working capital adjustment and novation of customer contracts) and an amount upto USD 0.60 million for performance based deferred earnouts. On completion of the closing conditions on 26 February 2021, the differential impact between estimated total consideration less cost to sell and carrying value of investment amounting to USD 0.38 million has been accounted.Zensar has been mentioned as a Disruptor in Avasant Applied AI and Advanced Analytics RadarView 2021. Zensar mentioned as an Aspirant in System Integrator (SI) Capabilities on Amazon Web Services (AWS) PEAK Matrixr Assessment 2021. Zensar bagged 2020-21 Cloud Award in the category of Cloud Consultancy/MSP of the Year. Zensars The VinciT wins at 11th Annual Aegis Graham Bell Awards under the AI Powered Innovation for Enterprise category.

  • Chairman

    H V Goenka
  • Independent Director

    Arvind Agrawal
  • Independent Director

    A T Vaswani
  • Independent Director

    Venkatesh Kasturirangan
  • Director

    Shashank Singh
  • Independent Director

    Ben Druskin
  • Independent Director

    Ketan Dalal
  • Independent Director

    Harsh Mariwala
  • Company Secretary

    Gaurav Tongia
  • Director

    Anant Vardhan Goenka
  • Independent Director

    Radha Rajappa
  • Managing Director & CEO

    Ajay Singh Bhutoria

Registered Office

Zensar Knowledge Park P No-4,
MIDC Off Nagar Road Kharadi,Pune,
Maharashtra-411014

REGISTRAR OFFICE

Karvy Selenium Tow-B,
Nanakramguda,Hyderabad-500032
INDIA