Shares of Zen Technologies Ltd rallied 4% on 19 March after the company announced acquiring a 45% stake in Bhairav Robotics Private Limited, making it an associated company.
After the investment was completed, the company informed the stock exchanges that it had acquired 45.33% of the total paid-up share capital of Bhairav Robotics. According to the statement, Bhairav will become an affiliate company of Zen Technologies.
Zen Technologies designs, develops and manufactures police anti-drone training simulators and operations for government agencies, including the paramilitary and armed forces security forces, as well as the transportation, mining, and civilian industries. The Zen Group is the largest supplier of simulation training equipment and anti-drone technologies in India.
The industry benefited enormously from the introduction of the Ministry of Defence (MOD) and the Defence Production and Export Promotion Policy (DPEPP) in September 2021, which encouraged the use of simulators for military training.
In Q3FY25, Zen Technologies’ standalone profit after tax (PAT) climbed by 22% year over year (YoY) to Rs 38.62 crore from Rs 31.67 crore in Q3FY24.
Operating revenue, however, rose 44% YoY to Rs 141.52 crore from Rs 98.08 crore in the same quarter the previous year.
At 2:27 pm, the shares of Zen Tech were trading .51% higher at Rs 1,283.65 on NSE.
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