This smallcap defence stock rallies 4% as firm bags ₹120 crore order from defence ministry

The company secured an order “for the supply of a Comprehensive Training Node (CTN) comprising a suite of various training simulators and equipment from the Ministry of Defence, Government of India.”

According to the regulatory filing, the order will be executed within a year.

Following the order, shares of Zen Technologies gained momentum on Friday. At 9:52 AM, the stock was trading at ₹1,400 apiece on NSE, rising 1.84%.

Over a month’s time, shares of the company have jumped 2%, while in the last six months, the stock tumbled 36%. From the beginning of 2025, Zen Technologies shares have fallen more than 43.5%.

Shares of the firm had hit a 52-week high of ₹2,627 on December 24, 2024, and a 52-week low of ₹945.35 on February 19, 2025.

The company has a market capitalisation of ₹12,618.98 crore.

Zen Technologies Q2 earnings

The Indian defence company posted a 5.22% year-on-year (YoY) decline in its consolidated profit after tax (PAT) to ₹59.40 crore in the September quarter of FY26, compared to ₹62.67 crore in the corresponding period of the previous fiscal year.

During the quarter under review, its sales or revenue from operations contracted by 28.23% YoY to ₹173.57 crore, as against ₹241.84 crore in the second quarter of the 2024-25 fiscal year (Q2 FY25).

The anti-drone technology and defence training solutions provider’s revenue and profit were impacted by procedural delays in order finalisations.

At an operational level, the firm’s EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹90.05 crore in Q2 FY26, marking a 1.77% YoY jump from ₹88.48 crore in the year-ago period.

Its EBITDA margin expanded to 51.88% during the quarter, from 36.58% in the September quarter of FY25.

As of September 30, 2025, the company’s total order book stood at ₹675.04 crore, including ₹554.12 crore in domestic and ₹120.92 crore in exports.