2,000 Multibagger Returns in Just 3 Years: Defence Company Secures Patent for Advanced Mine Detection System!
The company’s shares have delivered a multibagger return of over 800 per cent in just 2 years.
Zen Technologies Limited has been granted a patent in India for its innovative "Mine Detection System," marking a significant advancement in minefield reconnaissance and clearance. The system integrates GPS/GIS technology to accurately record mine coordinates, enhancing safety and efficiency in demining operations. Designed to operate in extreme conditions, it is user-friendly and compatible with existing mine-laying procedures.
This patent, the 16th for Zen Technologies in 2024, underscores the company's commitment to innovation in the defence sector, further solidifying its position as a leader in providing cutting-edge solutions for the Indian armed forces.
Zen Technologies Limited shares are trading at around Rs 1720 per share. The company’s current market capitalization stands at Rs 14445 crore. The stock has delivered a multibagger return of over 100 per cent in the past 1 year.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
As per the Quarterly Results, in Q1 FY25, Zen Technologies Limited recorded a revenue of Rs 255 crore grew by 92 per cent YoY. The operating profit for Q1 FY25 stood at Rs 111 crore. The net profit for Q1 FY25 was Rs 79 crore compared to Rs 48 crore. Looking at the annual performance, the company generated a revenue of Rs 440 crore in FY24. The operating profit for FY24 was Rs 181 crore with a net loss of Rs 130 crore.
Zen Technologies Limited, founded in 1996, specializes in designing, developing, and manufacturing combat training and counter-drone solutions for defense and security forces. The company focuses on indigenizing technologies to benefit the Indian armed forces, state police, and paramilitary forces. Headquartered in Hyderabad, India, Zen Technologies also has offices in the UAE and the USA.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.