Zensar Technologies Ltd logo

Zensar Technologies Ltd

ZENSARTECH NSE

Key Fundamentals

MicrocapComputer Software & ConsultingInformation Technology
Market Cap
₹11,015 Cr
Volatility
Moderate
P/E Ratio
14.21
EBITDA
₹1,150 Cr
Return on Equity
16.41%
Debt to Equity
0.02
Book Value
₹207.39
EPS
₹29.42
52W High
₹868.95
52W Low
₹423

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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62 extracted metrics + investor summaries across FY11–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

6
  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.06%.
  • Company has delivered good profit growth of 18.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 40.0%
  • Company's working capital requirements have reduced from 25.7 days to 19.9 days

Weaknesses

1
  • The company has delivered a poor sales growth of 8.51% over past five years.

Growth Rate

Revenue Growth
8.83% ↗
Net Income Growth
19.21% ↗
Cash Flow Change
36.42% ↗
ROE
2.76% ↗
ROCE
2.75% ↗
EBITDA Margin (Avg.)
8.13% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 20d ago
AI opinion · based on fundamentals
Risk medium

Zensar Technologies is a mid-cap IT services company with a market cap of ₹12,061 Cr trading at a PE of 15.1x. The company has delivered strong profit growth (18% CAGR over 5 years) and maintains a near debt-free balance sheet, but revenue growth has been tepid at 8.5% over five years and the stock has declined 36% over the past year.

Bull Case 7
  • Company is virtually debt-free, providing financial flexibility and resilience during downturns
  • Strong compounded profit growth of 18% CAGR over 5 years and 34% CAGR over 3 years indicates improving profitability
  • Healthy dividend payout ratio of 40% with a current dividend yield of 2.91%, well above IT sector average
  • PE ratio of 15.1x is significantly below mid-cap IT sector peers, suggesting potential valuation comfort
  • Consistent ROE of 16-18% over 3, 5, and 10-year periods reflects disciplined capital allocation
  • Working capital days reduced from 25.7 to 19.9 days, indicating improving cash conversion efficiency
  • TTM profit growth of 24% outpacing TTM sales growth of 8%, showing margin expansion capability
Bear Case 7
  • Stock has declined 36% over the past 1 year, significantly underperforming the broader market and IT index
  • Tepid revenue growth of only 8.5% CAGR over 5 years and 5% over 3 years in a sector where peers are growing faster
  • 10-year stock CAGR of just 9% suggests prolonged underperformance relative to broader indices
  • TTM sales growth of 8% remains below double digits, raising concerns about demand environment and deal wins
  • 3-year stock CAGR of only 2% indicates the market has not rewarded the profit growth with commensurate re-rating
  • Compounded sales growth has decelerated from 9% (5-year) to 5% (3-year), suggesting a slowing trajectory
  • Small market cap of ₹12,061 Cr limits scale advantages compared to larger IT peers competing for the same deals

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 15d ago
Headwinds 2
  • EBITDA margin contracts on deal costs Jul 31

    EBITDA margin contracted to 14.6% in Q1FY27 due to large deal transition costs, pressuring near-term profitability despite revenue growth.

  • Net profit growth nearly flat Jul 31

    Q1FY27 net profit of ₹1,838 million grew only 1% YoY, significantly lagging the 8.9% revenue growth, indicating margin headwinds.

Positives 4
  • Revenue up 8.9% YoY in Q1 Jul 31

    Q1FY27 consolidated revenue reached ₹15,083 million, up 8.9% YoY with BFSI vertical leading growth.

  • Strong ESG progress filed Jul 8

    BRSR for FY26 reports 56.5% reduction in Scope 1 and 2 emissions and 60.2% renewable energy share, strengthening ESG credentials.

  • ESOP grant signals retention focus Jul 21

    Granted 6,28,502 ESOP options at ₹2 exercise price on July 20, 2026, aimed at retaining key talent.

  • Final dividend of ₹12.60/share Jul 8

    Board proposed final dividend of INR 12.60 per share for FY26, to be approved at the 63rd AGM on July 30, 2026.

Neutral 3
  • Bridgeview merger effective Aug 1 Jul 31

    Merger of Bridgeview Life Sciences LLC into Zensar Technologies Inc. effective August 1, 2026, with no change in shareholding or cash consideration — purely internal US subsidiary restructuring.

  • 63rd AGM held, RPTs approved Jul 30

    AGM concluded on July 30, 2026, approving FY26 audited financials and material related party transactions with the South African subsidiary.

  • Q1FY27 earnings call recording released Jul 30

    Audio recording of the Q1FY27 earnings call held on July 30, 2026 published on the investor relations website.

TL;DR: Zensar delivered healthy 8.9% YoY revenue growth in Q1FY27 led by BFSI, but profitability is under pressure with EBITDA margin contracting to 14.6% due to large deal transition costs and net profit barely growing. ESG credentials and shareholder returns (₹12.60 dividend) are solid positives. The key forward-looking question is whether large deal ramp-ups will translate into margin recovery in coming quarters as transition costs normalize.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
1,227
1,241
1,204
1,230
1,288
1,308
1,326
1,359
1,385
1,421
1,431
1,450
1,508
Expenses
997
1,010
996
1,027
1,092
1,107
1,119
1,146
1,174
1,201
1,181
1,215
1,287
Operating Profit
230
231
208
203
196
201
207
212
211
220
250
236
221
OPM %
19%
19%
17%
17%
15%
15%
16%
16%
15%
15%
17%
16%
15%
Other Income
28
36
42
52
42
41
31
46
57
49
38
66
57
Interest
6
6
6
3
4
4
4
5
4
4
2
2
4
Depreciation
42
37
31
24
25
30
24
24
23
25
20
23
28
PBT
210
225
212
229
210
208
210
230
241
240
265
276
246
Tax %
26%
23%
24%
24%
25%
25%
24%
23%
24%
24%
25%
24%
25%
Net Profit
156
174
162
173
158
156
160
176
182
182
200
211
184
EPS in Rs
6.9
7.68
7.14
7.65
6.97
6.86
7.04
7.77
8.01
8.01
8.79
9.26
8.08
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,656
2,952
3,056
3,108
3,966
4,182
3,781
4,244
4,848
4,902
5,281
5,687
5,811
Expenses
2,264
2,513
2,674
2,743
3,487
3,675
3,097
3,587
4,296
4,030
4,464
4,771
4,884
Operating Profit
392
439
382
365
479
507
685
656
552
872
817
916
926
OPM %
15%
15%
12%
12%
12%
12%
18%
15%
11%
18%
15%
16%
16%
Other Income
27
54
24
74
93
88
-24
138
103
159
160
209
210
Interest
11
11
9
23
37
61
54
35
28
21
17
12
12
Depreciation
42
65
49
65
89
159
175
185
183
134
102
91
97
PBT
366
417
349
352
445
376
433
574
444
876
858
1,022
1,027
Tax %
28%
30%
32%
30%
28%
28%
29%
27%
26%
24%
24%
24%
—
Net Profit
265
292
238
246
319
272
307
422
328
665
650
775
776
EPS in Rs
11.94
12.97
10.47
10.74
13.93
11.69
13.3
18.4
14.47
29.34
28.61
34.05
34.14
Div. Payout %
18%
18%
23%
22%
20%
24%
27%
27%
35%
31%
45%
44%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
44
45
45
45
45
45
45
45
45
45
45
45
Reserves
1,113
1,220
1,427
1,624
1,897
2,045
2,297
2,642
2,931
3,517
4,024
4,674
Borrowings
176
149
134
9
300
332
350
335
273
186
125
79
Other Liabilities
402
455
500
618
847
1,174
742
817
872
899
978
1,274
Total Liabilities
1,734
1,869
2,106
2,296
3,090
3,596
3,433
3,840
4,121
4,648
5,173
6,072
Fixed Assets
547
386
447
592
950
1,323
1,133
1,254
1,174
1,034
1,170
1,223
CWIP
1
2
3
6
12
11
0
1
0
5
1
176
Investments
94
134
243
275
115
278
517
324
899
1,408
1,714
1,921
Other Assets
1,092
1,347
1,413
1,424
2,013
1,983
1,783
2,260
2,049
2,200
2,288
2,753
Total Assets
1,734
1,869
2,106
2,296
3,090
3,596
3,433
3,840
4,121
4,648
5,173
6,072
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
321
255
304
206
156
686
858
336
714
642
565
771
Investing
-182
-41
-204
-142
-229
-315
-530
3
-527
-476
-473
-224
Financing
-87
-129
-50
-204
201
-197
-467
-183
-219
-197
-264
-401
Net Cash Flow
51
85
50
-140
128
175
-139
156
-31
-31
-172
146
Free Cash Flow
283
212
269
154
104
608
819
279
681
627
530
719
CFO/OP
107
82
107
85
61
158
146
74
146
100
96
105
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
62
67
64
75
81
58
57
69
55
55
55
59
Inventory Days
266
304
—
—
—
—
—
—
—
—
—
—
Days Payable
283
400
—
—
—
—
—
—
—
—
—
—
Cash Conversion Cycle
45
-29
64
75
81
58
57
69
55
55
55
59
Working Capital Days
41
56
49
70
57
20
19
36
21
27
30
20
ROCE %
30%
31%
24%
23%
23%
18%
21%
21%
15%
25%
21%
23%

Shareholding Pattern

As of Jun 2026
Promoters 48.99%
DIIs 21.99%
Public 14.08%
FIIs 10.73%
Others 4.20%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
49.19%
49.18%
49.12%
49.10%
49.09%
49.16%
49.15%
49.15%
49.21%
49.21%
49.20%
49.20%
49.17%
49.17%
49.13%
49.10%
49.07%
49.06%
49.02%
49.01%
49.00%
48.99%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
16.53%
15.74%
14.84%
15.06%
14.98%
14.56%
13.30%
11.80%
10.50%
10.73%
DIIs
1.58%
9.18%
9.38%
13.57%
14.41%
13.58%
12.28%
11.47%
15.78%
17.31%
16.55%
16.17%
17.53%
19.05%
19.05%
19.83%
19.89%
20.52%
22.24%
23.12%
23.66%
21.99%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
8.64%
10.42%
11.25%
13.59%
16.43%
18.10%
21.84%
22.14%
19.58%
16.85%
14.02%
13.84%
13.45%
12.70%
13.43%
12.49%
12.61%
12.37%
11.85%
11.66%
12.35%
14.08%
Others
40.59%
31.23%
30.25%
23.74%
20.08%
19.17%
16.72%
17.24%
15.43%
16.64%
20.24%
20.80%
3.31%
3.35%
3.54%
3.52%
3.45%
3.49%
3.59%
4.41%
4.48%
4.20%
No. of Shareholders
38,861
62,003
88,542
1,18,381
1,71,073
1,86,559
2,22,974
2,24,511
2,11,754
1,97,826
2,17,699
2,25,657
2,16,935
2,01,777
2,17,218
2,03,592
2,25,502
2,10,063
2,01,872
2,04,025
2,06,187
2,19,808

Documents

Frequently Asked Questions about Zensar Technologies Ltd

What does Zensar Technologies Ltd do?
Zensar Technologies is a leading digital solutions and technology services company. It is a part of the Mumbai-based RPG group and is headquartered in Pune, India. It operates in two segments: Application Management Service and Infrastructure management service. It is focused on industry vertical...
Where is Zensar Technologies Ltd (ZENSARTECH) listed?
Zensar Technologies Ltd is listed on the Indian stock exchanges. It is listed on NSE: ZENSARTECH and BSE: 504067. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Zensar Technologies Ltd belong to?
Zensar Technologies Ltd operates in the Information Technology sector within the IT - Software industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Zensar Technologies Ltd?
Zensar Technologies Ltd has a market capitalisation of approximately ₹11015.34 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Zensar Technologies Ltd?
The Price-to-Earnings (PE) ratio of Zensar Technologies Ltd is 14.21. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Zensar Technologies Ltd?
Over the past 52 weeks, Zensar Technologies Ltd has traded between a low of ₹423 and a high of ₹868.95. This range helps investors understand the stock's price volatility and recent trading levels.
Does Zensar Technologies Ltd pay dividends?
Yes, Zensar Technologies Ltd has a dividend yield of 3.06%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Zensar Technologies Ltd?
Zensar Technologies Ltd has a Return on Equity (ROE) of 16.41%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Zensar Technologies Ltd on Tapetide?
On Tapetide, you can view Zensar Technologies Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Zensar Technologies is a leading digital solutions and technology services company. It is a part of the Mumbai-based RPG group and is headquartered in Pune, India. It operates in two segments: Application Management Service and Infrastructure management service. It is focused on industry verticals, such as Hitech & manufacturing, consumer services, and banking, financial services, and insurance. They have offices located in India, the USA, UK, Europe, and Africa. [1] [2]

Website zensar.com
CEO Mr. Manish Tandon
Employees 9,975
Listed 2003-07-09
Face Value ₹ 2
Issued Size 22,73,72,542

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