Zen Technologies Limited, India’s leading anti-drone technology and defense training solutions provider announced its financial results for Q3FY22. Revenue from Operations increased 58% yoy to Rs26.22cr from Rs16.57cr in Q3FY21.
The company widened loss to Rs1.8cr in Q3FY22 compared to a loss of Rs0.74cr in Q3FY21. EBITDA (excluding Other Income) stood at Rs-0.09cr, resulting in EBITDA margins of -0.34%.
The company said in a filing, that it maintains a strong Balance Sheet position by being almost Debt-free and supported by an ample liquidity position. The total order book as of December 31, 2021, stood at AMC – Rs122.62cr. Sale of Equipment – Rs298.37cr.
At around 12.40 pm, Zen Technologies Ltd was trading at Rs200.45 per piece down by Rs7.85 or 3.77% from its previous closing of Rs208.30 per piece on the BSE.
“I am pleased to provide you with an update on our performance in Q3FY22. Our revenue streams were primarily driven by AMC’s during the third quarter. AMC’s contributed a total of Rs9.35cr during the quarter, and in line with our strategic objectives, they have now started to cover the Company’s fixed operating costs.
While we suffered a minor setback as a result of the fire incident at our demonstration centre in Hyderabad, we are pleased to report that the previous quarter brought a fresh wave of growth opportunities. Not only did we receive our first export order for ‘Live Simulators’, but our subsidiary Unistring Tech Solutions Private Limited also secured its largest order to date, worth ~ Rs61cr, from an Indian defence PSU,” Ashok Atluri — Chairman and Managing Director, said.
“I am also pleased to report that we successfully raised ~Rs86.57cr through the issuance of 10% Compulsorily Convertible Debentures (CCD’s), which the Company intends to prudently invest in research and development and expanding its export footprint.
With the recent framework issued by the Ministry of Defence (MoD) promoting the use of simulators in training the Indian Armed Forces and the changing dynamics of warfare presenting Drone threats, we believe Zen is well positioned to capitalise on the opportunity and chart out a strong growth path for itself,” Atluri added.
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