Buy Zen Technologies Ltd For Target Rs. 2,750 by Motilal Oswal Financial Services Ltd
* We expect revenue to continue on a sharp incline on account of strong execution of orders in both domestic and export markets.
* Key monitorables include order inflows for both training simulators and anti-drones in domestic and export markets in the following years, as well as working capital days expected to return to normal levels.
* We expect EBITDA/PAT to increase 94%/101% YoY and margin to be at 1HFY25 levels.
* We revise our full-year estimates on lower tax rate assumptions and increase our TP based on March’27 EPS.
* The launch of new remote-controlled weapon systems, grant of patents, and expansion into foreign markets are expected to support future growth.
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