Hyderabad-based defence electronics company Zen Technologies Ltd on Monday said it has received an order worth ₹295 crore, including GST, from the Ministry of Defence, Government of India, for the supply of simulators. The order has been awarded by a domestic entity and is to be executed within a year.
The total aggregate value of the order is ₹295 crore, including GST. The order relates to the supply of simulators. Zen Technologies said its promoter, promoter group and group companies have no interest in the entity awarding the order. The company also said the order does not fall under related-party transactions.
Revenue from operations declined 10.5% to ₹141.6 crore from ₹158.2 crore in the corresponding quarter last year. Earnings before interest, taxes, depreciation and amortisation fell 40.2% year-on-year to ₹38.7 crore from ₹64.7 crore, while EBITDA margin narrowed to 27.3% from 40.9%.
Separately, the company's board approved extending the timeline for utilisation of the unutilised balance of funds raised through its Qualified Institutional Placement by 24 months, from August 23, 2026, to August 22, 2028. It added that there is no change in the objects of the issue or the proposed utilisation of the QIP proceeds as disclosed in the placement document, and that only the utilisation timeline has been extended.
The board also approved the appointment of Jasthi Krishna Kishore as an Additional Director and Non-Executive Independent Director for a period of three consecutive years with effect from July 25, 2026, subject to shareholders' approval. In addition, the board approved the reappointment of Shilpa Choudari as Whole-Time Director for a further three-year term effective November 1, 2026, also subject to shareholders' approval.