ZEN TECHNOLOGIES LIMITED

Makes defence training simulators, anti-drone systems, unmanned aerial and ground vehicles, a naval close-in weapon system, a cybersecurity suite, and (newly licensed) arms and ammunition, primarily for the Indian armed forces. The simulator business supplies tank and crew gunnery simulators and a separate annual maintenance contract (AMC) stream to the Ministry of Defence, and is being pushed into the US and EU via subcontracting. Anti-drone hardware (including a wide-frequency hard-kill system validated during Operation Sindoor), the HyperStrike interceptor drone (400 km/h, $10,000 per unit), and the Vrishabh unmanned ground vehicle (150 kg payload, 50 km/h, autonomous) target counter-UAS and autonomous-platform budgets. Subsidiary Vector Technics builds the full drone propulsion stack — BLDC motors, speed controllers, propellers, IC engines, starter-generators — at 300,000 units per year from Hyderabad Shamshabad and supplies components used on frontline Indian defence programmes. Consolidated order book stood at Rs. 1,239 crore at Q1 FY27, with an additional Rs. 177.5 crore MoD tank-simulator order received post-quarter and a simulator pipeline of Rs. 700-800 crore seen converting in coming months. Materials are the single largest cost line at 26.9% of revenue, followed by employees at 18.5% and other operating expenses at 21.5%, with depreciation at 3.5%.