Zen Technologies shares plunged over 11% on Monday morning following the company's Q4FY26 results announcement. According to reports from The Economic Times, the stock made an intraday low of ₹1,486 on the NSE. Despite the quarterly decline, Zen Technologies' share price has gained 22% over the past month, outperforming the benchmark NIFTY50 index for the same period. The company currently commands a market capitalisation of ₹15,088 crore, with a 52-week high of ₹2,268 and a low of ₹1,223.
The company's Q4FY26 revenue dropped to ₹178.7 crore compared to ₹325 crore in the same quarter last year, as reported by The Economic Times. For the full financial year FY26, revenue declined from ₹973 crore to ₹687 crore. The revenue decline was primarily attributed to slower order intake during the quarter. Q4FY26 order inflow stood at ₹431 crore with a total order backlog of ₹1,336 crore, which remained subdued compared to Q3FY26 order inflow of ₹585 crore. The poor sales growth was largely attributed to slower order execution and slower order inflow.
According to The Economic Times reports, Q4FY26 net profit dropped 69% year-on-year to ₹32 crore compared to ₹101 crore in the previous year's same quarter. The EBITDA for the quarter stood at ₹73.5 crore versus ₹162 crore in the previous year, while EBITDA margin for the quarter was 41.3% compared to 50% in the same period last year. The Operational EBITDA for the quarter was ₹50 crore compared to ₹137 crore in the same period last year. On a sequential basis, profit after tax dropped 42% from ₹55 crore reported in Q3FY26, while revenue showed marginal growth of 2.4% quarter-on-quarter, rising from ₹177.82 crore in the October–December quarter.
On the shareholding front, foreign institutional investors (FIIs) increased their stake from 5.54% to 5.99% in the March 2026 quarter, as reported by The Economic Times. Mutual fund holdings also rose from 5.05% to 6.72% during the same period. The company announced a final dividend of Re 1 per share for FY26. From a technical perspective, Trendlyne data shows the stock's RSI (14) at 62.4, indicating it is neither overbought nor oversold. However, the stock is trading below four out of its eight simple moving averages, suggesting some bearish undertones.
As reported by The Economic Times, management noted that FY26 financial performance was muted relative to FY25, a trajectory communicated earlier to investors and stakeholders. The company ended FY26 as a defence company with five capabilities ready to be offered to the Armed Forces: training simulation and systems, counter-drone solutions, automated weapons stations, combat robotics and drones. Management expressed confidence that Zen is entering FY27 better positioned than at any point in recent history, citing a strong forward order book, structurally more diversified earnings base, and an expanded product portfolio with supportive policy environment.
