Shares of Zen Technologies Limited will be focus on Friday morning after the provider of military training and anti-drone solutions, said it has received order from the government valued at Rs 160 crore. The contract comes under the government's Indigenous Design and Development (IDDM) initiative, which requires Indian IP and over 60 per cent indigenous content, the company said in a BSE filing. Zen Technologies, with three decades of IP-based Design & Development (D&D) experience, stands poised to benefit from such initiatives, the company said ahead of market hours.
In a brief BSE filing, Zen Technologies: "Zen Technologies Limited, a leading provider of military training and anti-drone solutions, is pleased to announce a significant order win from the government of India valued at approximately Rs 160 crore. The contract comes under the Government's Indigenous Design and Development (IDDM) initiative, which requires Indian IP and over 60 per cent indigenous content. Zen, with three decades of IP-based Design & Development (D&D) experience, stands poised to benefit from such initiatives."
To recall, Zen Technologies had last month said it was looking forward to securing additional sizeable contracts within the next quarter. Zen Technologies had last month received order worth Rs 202 crore last month from the Ministry of Defence. The order win underscores Zen Technologies' steadfast commitment to delivering innovative solutions and driving transformative impact, the company had said earlier.
Zen Technologies has been a multibagger this calendar, rallying 124 per cent year-to-date and 141 per cent in the last one month.
Zen Technologies offers military training and anti-drone solutions. The company specialises in manufacturing land-based military training simulators, driving simulators, live range equipment, and anti-drone systems. It has a dedicated Research and Development (R&D) facility in Hyderabad, recognised by the Ministry of Science and Technology, Government of India. The company has filed for over 110 patents and successfully shipped more than 1000 training systems worldwide.
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