ZENTECNSE18 May 2025

Zen Technologies Limited has informed the Exchange about Investor Presentation

Zen Technologies Limited

May 18, 2025

To Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051

To Dept. of Corp. Services BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001

Symbol: ZENTEC

Scrip Code: 533339

Dear Sir/Madam,

Sub:

Investor Presentation

Please find attached Investor Presentation on the Financial Results of the Company for the quarter and year ended March 31, 2025.

above

The https://www.zentechnologies.com/calls-and-conferences

information

available

also

the website

the Company:

This is for your kind information and records.

Thanking you

Yours faithfully,

For Zen Technologies Limited

Sourav Dhar Company Secretary & Compliance Officer

Encl: As above

Investor Presentation

Q 4 & F Y 2 5

NSE: Z ENTEC B SE: Z ENTEC - 533339

BLOOMBERG: Z EN IN REUTERS: Z ETE. BO

Management Commentary

Mr Ashok Atluri CHAIRMAN & MANAGING DIRECTOR

“Zen Technologies has surpassed its guidance for FY25, achieving a top line of over ₹900 crores, along with EBITDA and PAT margins exceeding the guided 35% and 25% respectively-marking the highest- ever quarterly and annual performance in the company’s history.

During the quarter, we secured a significant order from the Ministry of Defence for Integrated Air Defence Combat Simulators (IADCS) for the L70 gun, which we expect to execute within this financial year.

On the acquisition front, we have made substantial progress. We acquired a 76% stake in ARIPL in February 2025, with the remaining 24% to be acquired in the current financial year. ARIPL brings deep expertise in marine and naval simulation, and we see strong potential for synergies. With the strategic acquisition of 51% stake in Vector Technics - one of the few indigenous manufacturers of critical drone components - we have entered the core of the drone eco-system. Further, we have acquired 45.33% in Bhairav Robotics, a company focused on robotics and autonomous weapons systems. These acquisitions mark a significant step forward in the direction of next generation defence technologies and future ready national security solutions.

Our liquidity position remains robust at approximately ₹1,037 crores, reflecting our disciplined working capital management and enabling us to pursue growth initiatives and invest strategically in future capabilities. We continue to evaluate inorganic growth opportunities to further strengthen our portfolio. We have significantly increased our R&D investments, not only to enhance current offerings but also to build a pipeline of innovative products that will address emerging defence requirements. In line with this, we are planning an expansion of our existing R&D centre with an investment of close to ₹70 crores, to further accelerate product development and create new opportunities for long-term growth.

The evolving nature of modern warfare has highlighted the importance of advanced counter-drone systems and comprehensive training solutions. We have delivered band independent counter drone systems for the first time in India. These system proved very effective in the recent operations conducted by the Armed forces.

We acknowledge the Ministry of Defence and the Government of India for their continued trust in the Indian industrial capability to innovate and betting substantial investments there. We will continue to deliver readiness and contribute to solutions national security. We take pride in serving the nation and stand ready to support our security forces in all circumstances.”

that enhance operational

Strengthening Strategic Capabilities through Targeted Acquisitions

Zen Technologies has completed three strategic acquisitions in FY25. These transactions mark a decisive move to diversify our capabilities, deepen our technological edge, and expand our market reach across land, air, and sea defence domains.

Broadened Technological Portfolio Entry into advanced domains such as autonomous defence robotics, UAV propulsion systems, and maritime/naval simulation technology.

Complementary Business Fit Each acquired entity operates in a niche vertical that strengthens Zen’s core segments—ranging from anti-drone solutions to simulation platforms.

Accelerated R&D and Innovation Gain access to proprietary technologies, product IP, and specialised engineering teams that shorten our product development lifecycle and improve time-to-market.

Synergistic Growth Pathways These acquisitions unlock significant cross-sell and up-sell opportunities across existing client bases, while opening up new market segments domestically and globally.

Acquisition

Applied Research International Private Limited

Company Profile With over 1,000 installations and presence in 50+ countries, ARI is foremost simulation and digital SaaS player in naval & marine globally.

What They Bring  75+ simulators across marine, defence

and industrial training

 121+ registered IP assets (patents,

copyrights, software)

 Ranked top 3 globally in marine/naval

simulation

Scale & Maturity  FY25 Revenue: ₹ 137 Cr  150+ employees and 65+ consultants

Strategic Fit with Zen  Expands Zen from land to naval & maritime

verticals

 Adds digital SaaS and AMC annuity streams  Enables cross-sell across shared defence

customer base

Vision Ahead  Enhancing global market share  Wargaming and VR-led defence

training modules

 Accretive to Zen’s margins and PAT

from Day 1

Transaction Value & Status ₹130 Cr for 100% stake. Tranche 1 closed (76% acquired); Tranche 2 to complete by Mar’26.

Acquisition

Vector Technics Private Limited

Why This Matters Global drone supply chains are over- reliant on China. Vector offers a credible “Made in India” alternative — a strategic necessity.

Core Strengths  Aerospace-grade quality, customisable

motors

 24/7 tech support and global certifications  Product innovation in drone component &

UAV propulsion.

Scale & Snapshot  Founders-led with deep R&D focus  Early-stage: poised for scale-up

Strategic Rationale  Make Zen entry in to the drone eco-system.  Reduces import dependency for indigenous

drone manufacturers.

 Ready to scale for all types of drones

including kamikaze.

What’s Next  Motor factory and R&D centre by

June’25

 Global expansion with assembly lines in

US/EU

Transaction Value & Status ₹ 25 Cr for 51% stake. Integration in early-stage scale-up phase.

What They Do One of the few players building indigenous motors, ESCs, propulsion systems for drones and power electronics.

Acquisition

Bhairav Robotics Private Limited

Who They Are A defence robotics startup creating AI- powered combat robots and autonomous weapon systems.

Innovation Edge  Product pipeline includes robotic mules, &

autonomous weapons.

Growth Roadmap  Launch of new products  High growth robotics & AWS industry.

Why Zen Invested  Fast tracks Zen’s entry into defence robotics  Access to fully developed prototypes

without R&D lag

 Expands Zen’s land combat offerings beyond

simulation

Transaction Value & Status ₹ 4 Cr for 45.33% stake Early integration underway for go-to-market readiness.

Quarterly Standalone Highlights

Revenue from Operations (YoY)

Operational EBITDA (YoY)

Profit After Tax (YoY)

(All Values ₹ in Crore)

116%

293.50

122%

99.39

135.71

44.71

157%

84.92

90.00

80.00

70.00

60.00

50.00

40.00

30.00

20.00

10.00

0.00

33.04

Q4FY24

Q4FY25

Q4FY24

Q4FY25

Q4FY24

Q4FY25

Revenue Segmentation (Sale of Equipment vs AMC)

Revenue Segmentation (Domestic vs Exports)

R&D Expenses

(All Values ₹ in Crore)

10.27

283.33

Q4FY25

8.83

126.88

Q4FY24

126.88

Q4FY24

227.73

55.5

Q4FY25

5.82

10.98

Q4FY24

Q4FY25

Sales of Equipment

AMC

Domestic

Exports

Quarterly Consolidated Highlights

Revenue from Operations (YoY)

Operational EBITDA (YoY)

Profit After Tax (YoY)

(All Values ₹ in Crore)

130%

324.97

184%

143.00

189%

101.05

141.39

50.30

34.94

Q4FY24

Q4FY25

Q4FY24

Q4FY25

Q4FY24

Q4FY25

*PAT Adjusted for Non-Controlling Interests

FY25 Standalone Highlights

Revenue from Operations (YoY)

Operational EBITDA (YoY)

Profit After Tax (YoY)

(All Values ₹ in Crore)

116%

930.67

79%

323.10

103%

262.95

430.28

180.54

129.23

FY24

FY25

FY24

FY25

FY24

FY25

FY25 Consolidated Highlights

Revenue from Operations (YoY)

Operational EBITDA (YoY)

Profit After Tax (YoY)

(All Values ₹ in Crore)

121%

973.64

107%

383.03

119%

280.24

439.85

184.85

127.88

FY24

FY25

FY24

FY25

FY24

FY25

*PAT Adjusted for Non-Controlling Interests

Order Book Status as of 31st March 2025

Order Book

New Orders

Orders Executed

Total Order Book

Order Book as on 31st December 2024

New Order bagged in Q4FY25

Orders executed in Q4FY25

Total Order Book as on 31st March 2025

AMC: 279.68 Cr Equipment: 537.23 Cr

AMC: 0.14 Cr Equipment: 168.38 Cr

AMC: 10.27 Cr Equipment: 283.22 Cr

AMC: 269.55 Cr Equipment: 422.39 Cr

Total : 816.91 Cr

Total : 168.52 Cr

Total : 293.49 Cr

Total : 691.94 Cr

Diversified Order Book

Domestic

Export

Total

Training Simulators

428.24

75.57

503.81

Anti-Drone Systems

188.13

TOTAL

616.37

75.57

691.94

Financial Statement Summary

Summary of Standalone Profit & Loss Statement

Particulars (₹ in Crore)

KEY PERFORMANCE INDICATORS

Sales

Other Operating Revenue

Total Revenue

Total Operating Expenses

EBITDA

EBITDA Margins

Operational EBITDA

Operational EBITDA Margins

Interest Cost

Depreciation

Profit Before Tax

Profit After Tax

Q4FY25 (Audited)

Q3FY25 (Unaudited)

Q4FY24 (Audited)

FY25 (Audited)

FY24 (Audited)

293.50

24.35

317.85

199.12

118.73

40.45%

99.39

33.86%

3.61

2.94

112.18

84.92

141.52

21.96

163.48

104.79

58.69

41.47%

38.80

27.41%

2.73

2.60

53.36

38.62

135.71

2.33

138.04

90.64

47.41

34.93%

44.72

32.95%

0.63

2.15

44.62

33.04

930.67

57.78

988.45

616.95

371.50

39.92%

323.10

34.72%

9.42

10.09

351.99

262.95

430.28

13.93

444.21

253.04

191.16

44.43%

180.54

41.96%

1.84

7.32

182.00

129.23

Financial Statement Summary

Summary of Consolidated Profit & Loss Statement

Particulars (₹ in Crore)

KEY PERFORMANCE INDICATORS

Sales

Other Operating Revenue

Total Revenue

Total Operating Expenses

EBITDA

EBITDA Margins

Operational EBITDA

Operational EBITDA Margins

Interest Cost

Depreciation

Profit Before Tax

Profit After Tax (Adjusted for Non-Controlling Interests)

Q4FY25 (Audited)

Q3FY25 (Unaudited)

Q4FY24 (Audited)

FY25 (Audited)

FY24 (Audited)

324.97

24.77

349.74

187.00

162.74

50.08%

143.00

44.00%

3.95

4.75

154.00

101.04

152.21

22.04

174.25

108.01

66.24

43.52%

46.31

30.42%

2.96

3.81

59.47

39.71

141.39

2.66

144.05

90.97

53.08

37.54%

50.30

35.57%

0.80

2.92

49.35

34.94

973.64

58.39

1,032.03

600.12

431.91

44.36%

383.03

39.34%

10.38

15.41

406.12

280.24

439.85

14.92

454.77

259.07

195.71

44.49%

184.85

42.03%

2.28

9.68

183.74

127.88

R&D Spends over the Years (In crores)

33.01

26.61

20.21

12.88

13.80

FY21

FY22

FY23

FY24

FY25

Strategic Priorities

Continue to grow the sales of Equipment and expand the product portfolio with strong focus on emerging space drones & Anti-Drone systems.

Look for inorganic acquisition which fit in with company’s vision and positioning.

Scale the AMC business, where the contributions from AMC can take care of the fixed operating expenses.

Enhance technical capabilities by increasing our investments R&D and getting into high value-added complex systems.

The business model of the company has been strategically positioned to reduce lumpiness and enhance the profitability in the coming years.

Streamlining operational efficiencies and focusing on cost optimisation and enhancing financial performance.

Evaluating tie ups with OEMs.

Thank You

Let’s connect

Afzal Malkani

in ve s t or s @z en te chn o log ies .c om Ch i e f F in an c ia l O f fi c e r Z e n Te c h n o lo g i es L i m ite d

Disclaimer:

Statements

in this presentation Certain concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The relating to these risks and uncertainties statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, intense competition, political instability and general economic conditions affecting our industry. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

©2018 ZEN TECHNOLOGIES LIMITED., ALL RIGHTS RESERVED. ZEN TECHNOLOGIES LOGO IS A TRADEMARK OF ZEN TECHNOLOGIES LIMITED. IN ADDITION TO COMPANY DATA, DATA FROM MARKET RESEARCH AGENCIES, STOCK EXCHANGES AND INDUSTRY PUBLICATIONS HAS BEEN USED FOR THIS PRESENTATION. THIS MATERIAL WAS USED DURING AN ORAL PRESENTATION; IT IS NOT A COMPLETE RECORD OF THE DISCUSSION. THIS WORK MAY NOT BE USED, SOLD, TRANSFERRED, ADAPTED, ABRIDGED, COPIED OR REPRODUCED IN WHOLE ON OR IN PART IN ANY MANNER OR FORM OR IN ANY MEDIA WITHOUT THE PRIOR WRITTEN CONSENT. ALL PRODUCT NAMES AND COMPANY NAMES AND LOGOS MENTIONED HEREIN ARE THE TRADEMARKS OR REGISTERED TRADEMARKS OF THEIR RESPECTIVE OWNERS.

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