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Zensar Technologies

ZENSARTECH NSE
₹533.00 No trade today
P/E
15.61
View as Markdown
MCP
Close 4 Nov 2026 ₹533.00 −170.40 −24.2% 1Y
Start ₹703.40

Key Fundamentals

MicrocapIT - SoftwareInformation Technology

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
22.80%
Debt to Equity
0.02
EPS (TTM)
₹34.14
Book Value
₹213.83
Market Cap
—
P/E (TTM)
15.61
P/B
2.49
ROE
17.30%
Dividend Yield
2.81%
EBITDA
₹1,150 Cr
52W High
₹758.90
52W Low
₹416.15
Volume
0

Peer Comparison

Information Technology › Computer Software & Consulting › Computers - Software & Consulting

Zensar Technologies peer comparison
TCS
₹2,436.0017.08₹8,98,480 Cr7.400.96%51.80%63.00%₹2,83,248 Cr₹51,858 Cr
Infosys
₹1,128.2014.88₹4,63,085 Cr4.862.26%31.90%40.00%₹1,89,336 Cr₹30,788 Cr
HCL Tech
₹1,405.0021.88₹3,89,601 Cr5.013.34%23.80%30.40%₹1,34,374 Cr₹17,434 Cr
Wipro
₹194.5515.21₹1,94,390 Cr2.441.01%15.50%17.80%₹94,968 Cr₹13,285 Cr
Tech Mahindra
₹1,783.0034.02₹1,76,066 Cr5.880.84%17.50%23.10%₹59,176 Cr₹5,163 Cr
LTM
₹4,204.9023.84₹1,26,067 Cr4.820.59%23.10%29.60%₹44,075 Cr₹5,197 Cr
Persistent Systems
₹6,065.0049.64₹96,188 Cr7.820.66%27.20%34.40%₹15,718 Cr₹1,922 Cr
Zensar Technologies (this company)
₹533.0015.61₹12,056 Cr2.492.81%17.30%22.80%₹5,811 Cr₹777 Cr
Median 8 companies₹1,594.0019.48₹1,85,228 Cr4.940.99%23.45%30.00%₹77,072 Cr₹9,241 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

59 Good

Data confidence 100/100

Category scores

Quality
68
Strong
Returns, margins, earnings quality 22% weight
Valuation
71
Strong
Cheap vs sector & own history 24% weight
Growth
42
Weak
Sales & profit trajectory 9% weight
Financial Health
81
Strong
Solvency, leverage, coverage 9% weight
Momentum
68
Strong
Trend strength, vol-adjusted 12% weight
Ownership
38
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

6
  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.31%.
  • 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.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish1612
OscillatorsBullish063
Moving AveragesStrong Bullish109

Key readings

RSI (14)
66.02
Neutral
MACD (12,26,9)
20.77
Bullish
SMA (50)
467.77
Bullish
SMA (200)
520.97
Bullish

As of

Analyst Rating

Based on 11 analysts
BUY64%

7 of 11 analysts rate Buy, 3 Hold, 1 Sell.

As of

BUY
7
64%
HOLD
3
27%
SELL
1
9%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+6.78%
5Y+8.51%
3Y+5.46%
1Y+7.69%
TTM+8.03%

Net profit

Net profit growth by window
10Y+10.25%
5Y+20.35%
3Y+33.19%
1Y+19.23%
TTM+15.28%

Operating cash flow

Operating cash flow growth by window
10Y+11.70%
5Y−2.12%
3Y+2.59%
1Y+36.46%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+1.24 pp
5Y−2.01 pp
3Y+4.72 pp
1Y+0.64 pp
TTM+0.51 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹3,056 Cr
Mar 2018₹3,108 Cr
Mar 2019₹3,966 Cr
Mar 2020₹4,182 Cr
Mar 2021₹3,781 Cr
Mar 2022₹4,244 Cr
Mar 2023₹4,848 Cr
Mar 2024₹4,902 Cr
Mar 2025₹5,281 Cr
Mar 2026₹5,687 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹238 Cr
Mar 2018₹246 Cr
Mar 2019₹319 Cr
Mar 2020₹272 Cr
Mar 2021₹307 Cr
Mar 2022₹422 Cr
Mar 2023₹328 Cr
Mar 2024₹665 Cr
Mar 2025₹650 Cr
Mar 2026₹775 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹244 Cr −16.5% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 28 Jul 2026
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 6
  • 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
  • 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

94d ago

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.

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.

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.

Quarterly Results

₹ Cr
ZENSARTECH quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 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
1,585
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
1,336
Operating Profit
230
231
208
203
196
201
207
212
211
220
250
236
221
250
OPM %
19%
19%
17%
17%
15%
15%
16%
16%
15%
15%
17%
16%
15%
16%
Other Income
28
36
42
52
42
41
31
46
57
49
38
65
57
42
Interest
6
6
6
3
4
4
4
5
4
4
2
2
4
3
Depreciation
42
37
31
24
25
30
24
24
23
25
20
23
28
37
PBT
210
225
212
229
210
208
210
230
241
240
265
276
246
252
Tax %
26%
23%
24%
24%
25%
25%
24%
23%
24%
24%
25%
24%
25%
24%
Net Profit
156
174
162
173
158
156
160
176
182
182
200
211
184
190
EPS (₹)
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
—

Sep 2026: from the results filed on 28 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
ZENSARTECH profit and loss, annual, ₹ crore
Particulars 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 (₹)
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%
—

Balance Sheet

₹ Cr
ZENSARTECH balance sheet, annual, ₹ crore
Particulars 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

Cash Flow

₹ Cr
ZENSARTECH cash flow, annual, ₹ crore
Particulars 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

Ratios

ZENSARTECH financial ratios, annual
Particulars 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%

Insights

Beta

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

Log in to view Zensar Technologies insights

69 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 48.98%
  • DIIs 21.71%
  • Public 15.44%
  • FIIs 10.21%
  • Others 3.66%

No promoter shares pledged as of Sep 2026

Change since Jun 2026

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Zensar Technologies

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.
Where is Zensar Technologies Ltd (ZENSARTECH) listed?
Zensar Technologies Ltd trades as ZENSARTECH on the NSE and under code 504067 on the BSE.
Which sector does Zensar Technologies Ltd belong to?
Zensar Technologies Ltd is classified under the Information Technology sector, in the Computer Software & Consulting industry.
What is the PE ratio of Zensar Technologies Ltd?
Zensar Technologies Ltd trades at a PE ratio of 15.61 as of 4 Nov 2026, on earnings per share of ₹34.14, against a book value of ₹213.83 per share.
What is the 52-week high and low of Zensar Technologies Ltd?
Over the last 52 weeks Zensar Technologies Ltd has traded between ₹416.15 and ₹758.9 as of 4 Nov 2026.
Does Zensar Technologies Ltd pay dividends?
Zensar Technologies Ltd has a dividend yield of 2.81%.
What is the Return on Equity (ROE) of Zensar Technologies Ltd?
Zensar Technologies Ltd reported a return on equity of 17.30%. Its debt-to-equity ratio is 0.02.

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.

Website zensar.com
CEO Mr. Manish Tandon
Employees 9,975
Listed 9 Jul 2003
Face Value ₹2

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