Key takeaway: Zen Technologies Limited held its Q4 FY2026 earnings conference call on May 4, 2026, where management provided updates on product developments and financial performance. Chairman Ashok Atluri highlighted the significance of anti-drone systems and simulators, noting increased demand due to recent geopolitical conflicts. He discussed the introduction of new products, including a cyber security suite and an anti-drone simulator, emphasizing their AI integration. CFO Hari Haran Chalat reported consolidated revenues of Rs.178.1 crores for Q4 FY2026, a decline from Rs.325 crores in Q4 FY2025, attributing this to timing of order inflows. The company maintained a strong order book of Rs.1336 crores, with a significant portion scheduled for execution in FY2027. Management reiterated long-term margin goals of 35% operational EBITDA and 25% PAT, while also discussing the potential for increased order inflows in the coming year.

Key takeaway: Zen Technologies Limited reported that its financial performance for FY26 was muted compared to FY25, a trend management communicated to investors earlier. The company highlighted a structural transformation over the past two years, ending FY26 with five capabilities ready for the Armed Forces, including training simulation and counter-drone solutions. Management noted a positive contribution from subsidiaries to consolidated revenue and earnings, validating past capital allocation decisions. The company closed FY26 with a consolidated order book of ₹1,336 crore, including new orders of ₹431 crore secured in Q4 FY26. Management mentioned a robust pipeline of opportunities and emphasized the supportive domestic policy environment for defense procurement. The presentation also detailed financial highlights, showing a decline in revenue and profit compared to the previous year, with total revenue for FY26 at ₹687.69 crore and profit after tax at ₹193.45 crore.

Key takeaway: Zen Technologies Limited reported a 16.8% year-on-year growth in consolidated revenue for Q3 FY2026, reaching Rs. 177.8 Crores, and a profit after tax growth of 30.6%, amounting to Rs. 55.7 Crores. The operational EBITDA for the quarter was Rs. 66.8 Crores, reflecting a 51.1% increase year-on-year. Management noted that the profitability was supported by a favorable product mix and cost discipline, despite challenges related to order inflow timing. The consolidated order book increased to Rs. 1,427 Crores as of January 31, 2026, with management highlighting strong liquidity with Rs. 1,188 Crores in cash. Management set a goal of achieving Rs. 4,000 Crores in execution over the next two years, while also discussing ongoing investments in capacity expansion and new product development. The company emphasized its focus on R&D and the potential benefits from the EU FTA.