Defence stock in focus after securing patent for mortar training simulator; Owns 85 patents globally

Synopsis: The shares of this small-cap defence stock were in the news today after the company announced the receipt of a patent for its 60 mm mortar simulator, marking its 8th patent in 2025 and taking its portfolio to 57 Indian and 85 global patents. The patent strengthens Zen’s global export potential and enhances participation in international defence tenders.

This company designs, develops and manufactures combat training solutions and counter-drone solutions for defence and security forces and had its shares in the news following the company announcement of receiving a patent for a 60 mm mortar training simulator, strengthening its presence in defence. 

With the market cap of Rs 12,649 crore, the shares of Zen Technologies Ltd had hit their intraday high at Rs 1421.15, gaining about 2 per cent compared to their previous day’s closing price of Rs 1395.65. The shares are trading at a PE of 51.1, whereas their industry PE is at 61, and have given a return of 1,468% over the last 5 years.

About the patent. 

Zen Technologies has been granted an Indian patent for its 60 mm mortar simulator, a historic achievement in its innovation journey, as the firm is a force to be reckoned with in the defence training and simulation domain. This adds to Zen’s list of patents, as it holds a total of 57 Indian patents and 85 patents across the globe; it is its 8th patent of 2025.

The patented simulator provides an all-encompassing, end-to-end training system for high-angled fire weapons such as mortars. The system integrates authentic weapon structure, the latest sensors, recoil mechanisms, azimuth and elevation controls, and computer-produced battlefield scenarios, thereby providing efficient training for the troops. The training system eliminates risks associated with the usage of live rounds.

From a strategic standpoint, this patent enhances Zen Technologies’ competitiveness in the global market and prospects for exporting their technology because defence organisations around the world are increasingly employing simulation training technology to improve their operational readiness and security.

IP protection enhances Zen Technologies’ prospects in collaborating with defence organisations and their participation in global tenders, as Zen Technologies is positioned as a research-driven defence and technology firm providing world-class indigenous training solutions for defence organisations in India and internationally.

Financials and about the company. 

The revenue from operations for the company stands at Rs 174 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 242 crores, up by about 40 percent YoY. However, the net profit stood at Rs 62 crore in Q2 FY26, down from Rs 63 crore in Q2 FY25. 

The consolidated order book as of 30th September 2025 is at Rs 675.04 crore. The order book as of the beginning of Q2FY26 was at Rs 754.56 crore. The company received new orders amounting to Rs 94.05 crore and completed orders worth Rs 173.57 crore. The remaining order book is the result of this. The order book is quite well spread over different regions. The prevailing order book includes Rs 554.12 crore of the domestic order book, and the remaining Rs 120.92 crore is the result of the export order book.

Zen Technologies is amongst the leading defence technology companies in India, with its core emphasis on designing state-of-the-art training and simulation solutions and counter-drone systems. The firm provides realistic, safe, and technology-driven training platforms to armed forces, paramilitary units, and police organisations for multiple combat scenarios. Placing a strong spotlight on innovation and development of indigenous capabilities, Zen Technologies further scales up its solutions to meet emerging security challenges, making it a research-led defence technology company of growing global relevance.

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