Zen Technologies Limited Q2 revenue nearly doubles, profit rises

Zen Technologies Limited reported consolidated revenue from operations of Rs 345.13 crore for the quarter ended 30 September 2026, nearly double Rs 173.57 crore a year earlier. Consolidated net profit rose 65% year-on-year to Rs 101.88 crore from Rs 61.90 crore, while profit before tax reached Rs 137.69 crore.

What did Zen Technologies report for Q2 2026?

Zen Technologies reported Rs 345.13 crore in consolidated revenue from operations and Rs 361.85 crore in total income for the quarter ended 30 September 2026. Other income was Rs 16.71 crore, below Rs 25.31 crore in the quarter ended 30 September 2025, meaning the increase in total income principally reflected higher operating revenue.

Consolidated net profit for the September 2026 quarter was Rs 101.88 crore, compared with Rs 61.90 crore in the prior-year quarter. Profit attributable to shareholders of Zen Technologies was Rs 89.54 crore, while profit attributable to non-controlling interests was Rs 12.34 crore. Total comprehensive income was Rs 102.22 crore, including Rs 0.34 crore of other comprehensive income after tax.

Basic and diluted earnings per share, or EPS, were Rs 9.97 for the quarter, versus Rs 6.61 a year earlier. The reported quarterly EPS is not annualised, and paid-up equity share capital stood at Rs 9.03 crore, based on equity shares with a face value of Rs 1 each.

How did Zen Technologies’ Q2 results compare with last year and Q1?

Zen Technologies’ revenue from operations increased 99% from Rs 173.57 crore in the September 2025 quarter to Rs 345.13 crore in the September 2026 quarter. Net profit increased 65% from Rs 61.90 crore, while profit before tax rose 66% from Rs 83.13 crore, before the quarter’s tax expense of Rs 35.81 crore.

The sequential comparison also shows a higher September quarter. Revenue from operations was Rs 141.64 crore in the quarter ended 30 June 2026, compared with Rs 345.13 crore in the September quarter, while net profit rose from Rs 31.85 crore to Rs 101.88 crore. Total income increased from Rs 160.79 crore in June to Rs 361.85 crore in September.

Total income rose 82% year-on-year to Rs 361.85 crore, while total expenses increased to Rs 223.00 crore from Rs 116.58 crore. Profit before the share of associates and joint venture, exceptional items and tax increased to Rs 138.85 crore from Rs 82.30 crore, despite the increase in reported expenses.

What were the main cost and tax movements in Q2?

Zen Technologies recorded Rs 144.01 crore of cost of materials consumed in the September 2026 quarter, against Rs 52.93 crore a year earlier. Employee-benefit expense rose to Rs 44.68 crore from Rs 21.84 crore, manufacturing expense increased to Rs 15.64 crore from Rs 14.65 crore, and other expenses were Rs 39.56 crore versus Rs 23.81 crore.

Changes in inventories of finished goods, work-in-progress and stock-in-trade were a credit of Rs 30.75 crore in Q2 2026, compared with a credit of Rs 4.41 crore in Q2 2025. Finance costs declined to Rs 1.13 crore from Rs 2.04 crore, while depreciation and amortisation expense was Rs 8.73 crore, compared with Rs 5.71 crore in the prior-year quarter.

Zen Technologies reported a Rs 1.15 crore loss as its share of profit or loss from associates and joint venture in Q2 2026, compared with a Rs 0.11 crore loss a year earlier. There were no exceptional items in the September 2026 quarter, whereas the prior-year quarter recorded an exceptional gain of Rs 0.94 crore. Current tax was Rs 36.53 crore, deferred tax was a credit of Rs 0.73 crore, and total tax expense was Rs 35.81 crore.

What do Zen Technologies’ half-year results and balance sheet show?

Zen Technologies reported first-half revenue from operations of Rs 486.77 crore for the half year ended 30 September 2026, up from Rs 331.79 crore in the corresponding half year ended 30 September 2025. Half-year net profit rose to Rs 133.73 crore from Rs 114.98 crore, a slower increase than in Q2 because the June 2026 quarter contributed Rs 31.85 crore of profit.

For the half year, total expenses were Rs 334.86 crore against Rs 219.90 crore a year earlier, while profit before tax was Rs 182.95 crore compared with Rs 159.34 crore. Half-year net profit attributable to shareholders was Rs 124.00 crore, and non-controlling interests accounted for Rs 9.73 crore of the reported Rs 133.73 crore consolidated profit.

At 30 September 2026, total consolidated assets were Rs 2,318.91 crore, compared with Rs 2,160.22 crore at 31 March 2026. Inventories increased to Rs 342.59 crore from Rs 188.19 crore and trade receivables rose to Rs 478.88 crore from Rs 224.01 crore. Cash and cash equivalents were Rs 260.00 crore, compared with Rs 78.94 crore at the preceding financial year-end.

Total equity was Rs 2,057.94 crore at 30 September 2026, versus Rs 1,949.08 crore at 31 March 2026. Current liabilities rose to Rs 219.27 crore from Rs 175.47 crore, including Rs 22.78 crore due to micro enterprises and small enterprises and Rs 33.04 crore due to other creditors. Non-current borrowings were Rs 1.34 crore and current borrowings were Rs 4.49 crore.

Conclusion

Zen Technologies delivered a September-quarter increase in consolidated revenue from Rs 173.57 crore to Rs 345.13 crore and a rise in net profit from Rs 61.90 crore to Rs 101.88 crore. The half-year comparison also remained positive, with revenue increasing by Rs 154.98 crore and net profit increasing by Rs 18.75 crore over the corresponding six-month period.

The next reported period will show whether the higher September-quarter revenue is sustained and how working-capital items develop. As at 30 September 2026, inventories had increased by Rs 154.40 crore and trade receivables by Rs 254.88 crore from 31 March 2026; the board also approved the voluntary strike-off of wholly owned subsidiary Zen Medical Technologies Private Limited, subject to regulatory approvals.