Zen Technologies Limited (ZENTEC) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Zen Technologies Limited ₹1,066, price ₹1,576, upside -32.4%, quality 56 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹78.99 – ₹2,573 · fair‑value band ₹703.60 – ₹1,753 · the ₹1,576 price screens above the ₹1,066 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 27, 2026.
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Zen Technologies Limited, together with its subsidiaries, engages in the design, development, manufacture, and sale of training simulators in India and internationally.
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Zen Technologies Limited, together with its subsidiaries, engages in the design, development, manufacture, and sale of training simulators in India and internationally. The company provides anti-drone systems; training and simulation live ranges, comprising smart and multi-functional target systems, tank targets, master control station for live-firing ranges, air-to-ground firing range scoring system, containerized tubular and indoor shooting range, shoot house for live and simulated indoor tactical training, special purpose adapter for hand guns, cornershot weapon system, tank zeroing system, and containerized small arms firing range; armour combat training, indoor tracking, hand grenade simulator, and tactical engagement simulation systems; advanced weapon, medium machine gun, automatic grenade launcher, mortar integrated and carrier mortar tracked integrated, anti-tank guided missile, combat and infantry weapons training, artillery forward observers, integrated air defence, UAV mission, rotary wing, infantry combat vehicle driving, crew gunnery, gunnery, driving, BMP II integrated missile, driving training, automated driving, and bus and tatra driving simulators; and driving aptitude testing system. It serves police, paramilitary, armed, and security forces; government departments comprising transport, mining, and infrastructure; and the civilian markets. Zen Technologies Limited was incorporated in 1993 and is headquartered in Hyderabad, India.
Stock analysis
Zen Technologies Limited (ZENTEC) currently trades at ₹1,576, while our model-based Fair Value estimate is ₹1,066, 32.4% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹984.70 per share, and 0 of the 26 models we run sit above the ₹1,576 price.
Bear case: the Asset-Based group reads lowest at ₹140.73, and 26 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹703.60 (bear) to ₹1,753 (bull), the price of ₹1,576 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 56/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Zen Technologies Limited reported revenue of ₹6.9B in FY2026 versus ₹698M in FY2022, a compound +77.2%/yr. Reported net income was ₹1.9B in FY2026, compounding +214.2%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹159B (≈ $1.7B) · P/E ratio 73.3 · P/S ratio 20.6 · EPS (TTM) ₹21.51 · Dividend yield 0.1% · Net margin 28.1% · Return on equity 11.8% · Return on assets (EBIT) 13.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 21% below its 52-week high and 28% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −25% fair-value upside, at −32%, ZENTEC screens richer than that median.
Fair Value models
Bear ₹703.60Fair Value ₹1,066Bull ₹1,753
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹10.40 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−29.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+46.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+65.9%
Start year 2021 (pandemic). Over 10 years: +29.3% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.6%
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What shareholders gained per year (last 3 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+19.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.7%
Dividend (yield on the price)0.1%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.4% → 32%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+35.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+39.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +29.9% a year for the price and +33.7% for the forecasts.
Compare Zen Technologies Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aerospace & Defense · 226 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−32.4% · Above median
Profitability
Return on equity (TTM)11.8% · Above median
Return on assets6.6% · Top 25%
Net margin (TTM)28.1% · Top 25%
Operating margin (TTM)25.4% · Top 25%
Growth and dividend
Revenue growth−45.2% · Bottom 25%
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Aerospace & Defense median · lower = cheaper
P/E (TTM)73.3× · Priciest 25%
P/B8.44× · Priciest 25%
P/S (TTM)23.19× · Priciest 25%
P/FCF63.6× · Priciest 25%
EV/EBITDA63.1× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 0
FUTURE (revenue growth)0· sector 61
PAST (return on equity)47· sector 38
HEALTH (low debt)100· sector 94
DIVIDEND (yield)1· sector 18
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Zen Technologies Limited (ZENTEC) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹1,066 versus a price of ₹1,576, about −32% upside (overvalued).
What is the fair value of ZENTEC?
Our model-based fair value for Zen Technologies Limited is ₹1,066 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹1,576.
What is the quality score of ZENTEC?
Zen Technologies Limited has a Quality Score of 56/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Zen Technologies Limited (ZENTEC)?
Our model-based price target is the fair value of ₹1,066 (as of Sep 27, 2026) from 26 valuation models. Cautious scenario ₹703.60, optimistic scenario ₹1,753. It is a calculation from audited fundamentals, not an analyst target.
What is the Zen Technologies Limited stock forecast for 2026?
Our models put fair value at ₹1,066, about −32% upside versus a price of ₹1,576 (overvalued). Cautious scenario ₹703.60, optimistic scenario ₹1,753. The calculation is refreshed regularly with new filings.
What is the revenue of Zen Technologies Limited (ZENTEC)?
Zen Technologies Limited reported trailing-twelve-month revenue of about ₹6.9B (latest available figure, as of Sep 27, 2026).
Does Zen Technologies Limited pay a dividend?
Zen Technologies Limited currently shows a dividend yield of about 0.06% relative to its recent price (as of Sep 27, 2026).
What growth is priced into Zen Technologies Limited (ZENTEC)?
For today's price to be fair in a discounted-cash-flow model, Zen Technologies Limited would have to grow free cash flow by +35.3 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +66.0 % per year. As of Sep 27, 2026.
What discount rate (WACC) does the fair value of ZENTEC use?
Our models discount Zen Technologies Limited at 12.4 %: a base by market capitalisation (small), damped by beta 0.03, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Zen Technologies Limited that is +35.3 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has Zen Technologies Limited (ZENTEC) delivered so far?
Over the past 5 years revenue at Zen Technologies Limited grew +66.0 % a year. The price currently implies +35.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Zen Technologies Limited (ZENTEC) growing?
The median revenue growth in the sector is +6.3 % a year. That is the yardstick for the growth priced into Zen Technologies Limited (+35.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Zen Technologies Limited (ZENTEC)?
The free-cash-flow yield on the price is 1.77 %: that much free cash flow Zen Technologies Limited produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zen Technologies Limited (ZENTEC)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zen Technologies Limited it is ₹1,066 per share (as of Sep 27, 2026), against a price of ₹1,576. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Zen Technologies Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, ZENTEC trades above its calculated fair value: price ₹1,576, fair value ₹1,066, a gap of about −32% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ZENTEC?
No. The price is what the market pays today (₹1,576); the fair value is what the company's own numbers justify (₹1,066). For Zen Technologies Limited the two are ₹510.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zen Technologies Limited worth?
The market values Zen Technologies Limited at about ₹159B (market capitalisation, as of Sep 27, 2026). Per share that is ₹1,576; our models calculate a fair value of ₹1,066 per share.
What do the bullish and bearish scenarios say about ZENTEC?
Our models span a range for Zen Technologies Limited: cautious scenario ₹703.60, base ₹1,066, optimistic ₹1,753 per share (as of Sep 27, 2026, price ₹1,576). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ZENTEC?
Zen Technologies Limited trades at a price-to-earnings ratio of 73.3 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹1,066 is built from several models across several years. Other multiples: P/B 8.4, P/S 23.2, EV/EBITDA 63.1.
How solid is the balance sheet of Zen Technologies Limited (ZENTEC)?
Balance-sheet figures for Zen Technologies Limited (as of Sep 27, 2026): return on equity 11.8%, debt of 0.00 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is ZENTEC from its 52-week high?
Zen Technologies Limited trades at ₹1,576, about 21% below its 52-week high of ₹1,997 and 28% above the low of ₹1,228 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹1,066 is for.
Which stocks are comparable to Zen Technologies Limited?
From the same area (Industrials) we also value General Electric Company, RTX Corporation, Airbus SE, Lockheed Martin Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Zen Technologies Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹1,576, calculated fair value ₹1,066 (−32%), Quality Score 56/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ZENTEC calculated?
We run Zen Technologies Limited through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹1,066, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Zen Technologies Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zen Technologies Limited (ZENTEC)?
The closing price on Oct 1, 2026 was ₹1,576. Our model-based fair value is ₹1,066, about −32% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zen Technologies Limited right now?
Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹703.60 to ₹1,753) leaves room in how you read the outcome.
Where does the earnings growth of Zen Technologies Limited (ZENTEC) come from?
Earnings per share at Zen Technologies Limited grew +40.2 % a year from 2015 to 2026. Broken into its drivers: revenue per share +28.7 %, EBIT margin +8.5 %, tax rate −1.2 %, residual (interest, one-offs) +1.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Zen Technologies Limited
How large is the market capitalisation of Zen Technologies Limited (ZENTEC)?
The market capitalisation of Zen Technologies Limited is ₹159B (≈ $1.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zen Technologies Limited (ZENTEC)?
The price-to-sales ratio of Zen Technologies Limited is 20.6 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zen Technologies Limited (ZENTEC)?
Earnings per share at Zen Technologies Limited are ₹21.51 (price ÷ EPS = P/E 73.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Zen Technologies Limited (ZENTEC)?
The dividend yield of Zen Technologies Limited is 0.1% (payout 4.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Zen Technologies Limited (ZENTEC)?
The net margin of Zen Technologies Limited is 28.1% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Zen Technologies Limited (ZENTEC)?
The return on equity (ROE) of Zen Technologies Limited is 11.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zen Technologies Limited (ZENTEC)?
On an EBIT basis the return on assets of Zen Technologies Limited is 13.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zen Technologies Limited (ZENTEC)?
The operating margin of Zen Technologies Limited is 25.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zen Technologies Limited (ZENTEC)?
Revenue at Zen Technologies Limited is growing −45.2% versus a year earlier (3y avg +46.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Zen Technologies Limited (ZENTEC)?
Earnings per share at Zen Technologies Limited are growing −68.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Zen Technologies Limited (ZENTEC) hold?
Zen Technologies Limited holds more cash than debt, ₹3.4B net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
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