HYDERABAD, 30 JANUARY, 2023 (GPN): Commenting on the results, Mr. Ashok Atluri – Chairman and Managing Director, said:

“I am pleased to share an update on our performance in Q3FY23. Continuing on the strong start to the year, we have further gained momentum in Q3FY23, where both of our business verticals, AMC and Equipment , have reported positive growth.

As previously committed, we have almost reached an annual run rate of ₹40 crores in our AMC business. The cash flow generated from this business has helped us take care of our fixed operating expenses and our R&D initiatives. Strong growth in this vertical has further enabled us to intensify our R&D initiatives, which should bode well for our equipment business in the years to come.

The sales of equipment is the business vertical where growth visibility continues to remain high and the opportunities opening up excite us. We remain extremely confident of recognizing these revenues in the current financial year with a possible spill over to Q1 FY 24.

On the order book front, we expect a few major order wins coming our way on the back of our aggressive participation in various defence events. Furthermore, we expect a few more big order wins from aggressive purchase being made by Government India .

In order to capitalize on this burgeoning opportunity, we are broadening our capabilities and adding professional bandwidth to the team across functions. Our demonstration center at Abu Dhabi is progressing as per plans and will be operational soon.

With adequate liquidity in hand and a favorable industry environment, we remain committed to delivering sustainable and profitable growth. We appreciate your continued support and look forward to updating you on our future progress.”

Standalone Financial Particulars                                                                                31.12.2022     30.09.2022        31.12.2021

(In Crore)                                                      (Unaudited)   (Audited)     (Unaudited)

KEY PERFORMANCE INDICATORS
Sales	32.93	21.13	12.36
Other Operating Revenue	1.91	2.80	0.97
Total Revenue	34.84	23.93	13.33
Total Operating Expenses	24.57	15.74	11.33
EBITDA	10.27	8.18	2.00
EBITDA Margins	29.47%	34.20%	14.97%
Interest Cost	0.45	0.65	0.43
Depreciation	1.12	0.96	0.92
Profit Before Tax	8.70	6.57	0.64
Profit After Tax	7.59	4.57	0.12

About Zen Technologies Limited

Zen Technologies Limited is a pioneer and leader in providing world class state-of-the- art Defence Training Solutions, Drones and Anti- Drones solutions and has a proven and impeccable track record in building training systems for imparting defense training and measuring combat readiness of security forces. The company is engaged in indigenous design, development and manufacture of sensors and simulators technology based defence training systems and has relentlessly been providing Defence Training Solutions and seamless services to Ministry of Defence (Armed Forces), Security Forces Police, Para-military forces and is privileged to have served the nation for over 3 decades.

The company manufactures land based military training simulators, driving simulators, Live range equipment and Anti drone Systems. With a dedicated R&D (recognized by the Ministry of Science and Technology, Government of India) and production facility in Hyderabad, the company has applied for over 90 patents and shipped more than 1,000 training systems around the world.Ends