Zen Technologies shares in 5% lower circuit; Management says FY25 revenue will double

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Zen Technologies Chairman and Managing Director Ashok Atluri expects revenue worth ₹900 crore in financial year 2025. This is a 110% jump from the ₹430 crore revenue the company reported in financial year 2024.

Out of the ₹900 crore guidance for the current financial year, Zen Technologies expects to fetch ₹300 crore via exports.

Atluri expects demand to continue to remain strong. The company’s current order book is now at ₹1,400 crore.

However, Zen Technologies may report a decline in EBITDA margin for the full financial year. Atluri expects EBITDA margin at 35% for the current financial year, compared to the 43% margin it reported for the full year.

At the end of the December quarter, the company’s board had approved raising funds to the tune of ₹1,000 crore through the QIP route. Atluri said that the company will undertake an enabling resolution for the QIP, although he did not specify a timeline for the same.

While Inorganic Acquisitions may be on the radar for Zen Technologies, Atluri said that they have not yet identified any specific company to acquire in the future.

Shares of Zen Technologies are locked in a 5% lower circuit at ₹1,033.90. However, the stock has risen over 230% in the last 12 months and over 30% so far in 2024.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow