Zen Technologies Reports Strong Financial Results for Q4 2023, Positive Sales and Profit Growth

Zen Technologies, a midcap IT software company, has recently announced its financial results for the quarter ended December 2023. The company has shown a very positive performance in this quarter, with a score of 24, which is an improvement from the previous score of 19 in the last 3 months.

One of the key highlights of the financials is the growth in net sales, which has increased by 93.27% year on year, reaching Rs 166.02 crore in the half-yearly period. This indicates a very positive sales trend for the company.

In terms of profitability, Zen Technologies has also shown a positive trend. The profit before tax less other income (PBT) for the quarter has grown by 22.0% compared to the average PBT of the previous four quarters. Similarly, the profit after tax (PAT) has also increased by 35.0% compared to the average PAT of the previous four quarters. This indicates a positive near-term trend for the company.

Another positive aspect of the financials is the company's cash and cash equivalents, which have reached a record high of Rs 221.84 crore in the last six half-yearly periods. This shows that the company's short-term liquidity is improving.

Furthermore, Zen Technologies has also been able to settle its debtors faster, with the debtors turnover ratio reaching a high of 2.69 times in the last five half-yearly periods. This is a positive sign for the company's financial management.

Based on these financial results, MarketsMOJO has given a 'Hold' call for Zen Technologies' stock. With a strong performance in the quarter ended December 2023, the company is expected to continue its positive trend in the near future.