Hyderabad-based defence technology company Zen Technologies Ltd has secured a ₹177.5 crore order, from the Ministry of Defence for the upgradation and integration of Tank and Crew Gunnery Simulators, according to a stock exchange filing on Tuesday. The contract is to be executed within one year.
The company said the order covers the upgradation and integration of Tank and Crew Gunnery Simulators for the armed forces. It did not disclose the number of simulators covered under the contract. Zen Technologies also said the contract is a domestic order and that neither its promoters nor promoter group entities have any interest in the awarding authority.
Also read: Explained: Why FCNR deposits are driving the $20 billion inflows under the RBI’s swap scheme
The order comes weeks after the company outlined expansion plans through its subsidiary, Vector Technics. On July 7, the drone propulsion systems manufacturer said its expanded production capacity could support revenue of up to ₹400 crore as demand for drone propulsion systems grows. The subsidiary has increased its annual manufacturing capacity to three lakh propulsion units and expects domestic demand to remain the main growth driver while exports could eventually contribute about ₹100 crore in revenue.
The latest defence contract follows a weak fourth quarter for Zen Technologies. For the quarter ended March 2026, the company reported a 68.8% year-on-year decline in net profit to ₹31.5 crore from ₹101.1 crore. Revenue fell 45.2% to ₹178.1 crore from ₹324.9 crore in the corresponding quarter of the previous year, reflecting lower business activity during the period.
Also read: Brigade Enterprises launches residential project in Mysuru with revenue potential of over ₹300 crore
Shares of the company closed at ₹1,818.70, up 3.94% from the previous close on the National Stock Exchnage.
