Zen Technologies Q2 FY26 – Moderate Decline Amid High Base Effect

Zen Technologies reported a mixed performance in Q2 FY26, with a slight contraction in revenue and profitability compared to last year’s high base. • Sales: ↓ 28% YoY to ₹174 crore (vs ₹242 crore in Sep 2024) • EBIDT: ↓ 19% YoY to ₹64.6 crore (vs ₹80 crore) • Net Profit: ↓ 6% YoY to ₹61.9 crore (vs ₹63.4 crore) • EPS: ↓ 5% YoY to ₹6.58 (vs ₹6.94) At a price of ₹1,396, market cap ₹12,609 crore, and PE 51, the company maintains healthy profitability despite muted topline growth, suggesting stability in margins and efficient cost management even amid lower revenues.