Zen Technologies, India’s leading anti-drone technology and defense training solutions provider announced its financial results for Q2FY22.
The company posted a net loss of Rs0.74cr in Q2FY22 as against net profit of Rs0.92cr in Q1FY21. EBITDA (excluding Other Income) stood at Rs0.15cr, resulting in EBITDA margins of 0.97%.
Company maintains strong Balance Sheet position by being almost Debt-free and supported by ample liquidity-position, the company said in the filing.
The stock is currently trading at Rs213.20 up by Rs0.5 or 0.24% from its previous closing of Rs212.70 on the BSE.
Commenting on the results, Mr. Ashok Atluri – Chairman and Managing Director, said: “I am delighted to share with you our performance for this quarter. Our AMCs contributed about INR 7.63 crores to this quarter. We soon expect to cross the run rate of INR 8.5 crores per quarter. The AMC revenues will soon cover all the fixed overheads during this financial year, which is a positive direction for us at Zen. We recently bagged two big orders, one from the export market and another from the Indian Air Force.”
“The order for our anti-drone technologies validates our hard work and our bets, and we believe that there will be many such big orders in the future. This quarter we have also integrated hard kill technology with our anti-drone systems, which has further strengthened our position and opened up new markets for us. We have also decided to raise Rs100cr, primarily, for further R&D in anti-drone area and export promotion,” Ashok Atluri added.
