Arthneeti

Zensar Technologies Q2 FY27 Share Price & Earnings Call Analysis

₹537.30+8.11% today
Market cap
₹12,229 Cr
P/E
15.37
ROE
17.32%
PEG
0.44
Price to sales
2.11
Debt to equity
0.02
52W high / low
₹804 / ₹422
Sales growth (5Y)
8.51%
EBITDA margin
15.94%
Net profit margin
13.38%
Promoter holding
48.98%
Sales (last year)
₹5,811 Cr

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]

Guidance scorecard · Q2 FY27 call

What Zensar Technologies Ltd's management guided
and where it ranks in IT - Software

#36of 38 in
IT - Software
Revenue0–10%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookFlat

RevenueQ1 FY27 call

0–10%
  • Revenue growth is expected to continue with a mixed demand environment but broad-based volume growth, reinforcing confidence in the current strategy.
  • Q2 FY '27 is anticipated to be better than Q1, with ongoing ramp-up of a large $210 million deal contributing to future growth.
  • The large deal's full revenue impact is expected to appear in Q3 and Q4 FY '27.
  • The company aims to maintain a book-to-bill ratio around 0.9 to 1.1x of projected revenue, factoring in sporadic mega deals.
  • New business from existing clients and net new clients is at an all-time high, supporting healthy pipeline prospects.
  • Sales force investments and revamping go-to-market strategies aligned with AI to accelerate revenue growth.

2 more points from Zensar Technologies Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Zensar Technologies Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Zensar Technologies is actively looking to deploy its healthy cash reserves.
  • The company focuses on acquiring scaled assets rather than tuck-in acquisitions.
  • Target assets are in the revenue range of $150 million to over $200 million.

2 more points from Zensar Technologies Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Zensar Technologies Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Flat
  • Order book for Q1 FY '27 stood at $149.2 million.
  • Fresh order intake in Q1 was broadly $149 million, marking a multi-quarter low.
  • Despite lower order intake, the proportion of new business from existing and net new clients was at an all-time high.
  • Q1 is usually seasonally weak for renewals, which mostly happen in Q3 or Q4, so management is not overly concerned.
  • The large mega deal booked nearly $403 million in the previous quarter, impacting book-to-bill ratios in subsequent quarters.

2 more points from Zensar Technologies Ltd's call on the order book

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Full Q1 FY27 analysis
Full IT - Software ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in IT - Software
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. CapitalNumbersGood growth
    3
See all potential multibaggersWhere does Zensar Technologies Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

IT - Software companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹569 Cr34.7
240%+Flat₹336 Cr7.3
3CapitalNumbers20–40%Up 2%+₹181 Cr9.2
420–40%Up 2%+₹159 Cr11.5
520–40%Up 0–2%₹1,826 Cr28.5
620–40%Flat₹4,341 Cr84.7

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Financials of Zensar Technologies Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Zensar Technologies Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +49.20%49.18%49.17%49.14%49.10%49.07%49.06%49.03%49.01%49.01%49.00%48.99%
FIIs +17.12%16.53%15.74%14.84%15.06%14.98%14.56%13.30%11.83%10.51%10.73%10.21%
DIIs +16.45%17.53%19.04%19.05%19.83%19.89%20.52%22.24%23.09%23.66%21.98%21.71%
Public +17.23%16.77%16.06%16.98%16.01%16.06%15.85%15.43%15.73%16.48%17.94%18.81%
Others +0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.34%0.34%0.34%0.28%
No. of Shareholders2,25,6572,16,9352,01,7772,17,2182,03,5922,25,5022,10,0632,01,8722,03,9642,06,1872,19,8082,38,986

Financials of Zensar Technologies Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,2411,2041,2301,2881,3081,3261,3591,3851,4211,4311,4501,5081,585
Expenses +1,0109961,0271,0921,1071,1191,1461,1741,2011,1811,2151,2871,336
Operating Profit231208203196201207212211220250236221250
OPM %19%17%17%15%15%16%16%15%15%17%16%15%16%
Other Income +36425242413146574938665742
Interest6634445442243
Depreciation37312425302424232520232837
Profit before tax225212229210208210230241240265276246252
Tax %23%24%24%25%25%24%23%24%24%25%24%25%24%
Net Profit +174162173158156160176182182200211184190
EPS in Rs7.687.147.656.976.867.047.778.018.018.799.268.088.36

Financials of Zensar Technologies Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +2,6562,9523,0563,1083,9664,1823,7814,2444,8484,9025,2815,6875,975
Expenses +2,2642,5132,6742,7433,4873,6753,0973,5874,2964,0304,4644,7715,018
Operating Profit392439382365479507685656552872817916956
OPM %15%15%12%12%12%12%18%15%11%18%15%16%16%
Other Income +275424749388-24138103159160209203
Interest1111923376154352821171212
Depreciation426549658915917518518313410291108
Profit before tax3664173493524453764335744448768581,0221,039
Tax %28%30%32%30%28%28%29%27%26%24%24%24%
Net Profit +265292238246319272307422328665650775784
EPS in Rs11.9412.9710.4710.7413.9311.6913.3018.4014.4729.3428.6134.0534.49
Dividend Payout %18%18%23%22%20%24%27%27%35%31%45%44%

Financials of Zensar Technologies Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital44454545454545454545454545
Reserves1,1131,2201,4271,6241,8972,0452,2972,6422,9313,5174,0244,6744,824
Borrowings +17614913493003323503352731861257964
Other Liabilities +4024555006188471,1747428178728999781,2741,201
Total Liabilities1,7341,8692,1062,2963,0903,5963,4333,8404,1214,6485,1736,0726,135
Fixed Assets +5473864475929501,3231,1331,2541,1741,0341,1701,2231,415
CWIP12361211010511762
Investments941342432751152785173248991,4081,7141,9211,767
Other Assets +1,0921,3471,4131,4242,0131,9831,7832,2602,0492,2002,2882,7532,951
Total Assets1,7341,8692,1062,2963,0903,5963,4333,8404,1214,6485,1736,0726,135

Financials of Zensar Technologies Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +321255304206156686858336714642565771
Cash from Investing Activity +-182-41-204-142-229-315-5303-527-476-473-224
Cash from Financing Activity +-87-129-50-204201-197-467-183-219-197-264-401
Net Cash Flow518550-140128175-139156-31-31-172146
Free Cash Flow283212269154104608819279681627530719
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit107%82%107%85%61%158%146%74%146%100%96%105%

Financials of Zensar Technologies Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days626764758158576955555559
Inventory Days266304
Days Payable283400
Cash Conversion Cycle45-2964758158576955555559
Working Capital Days415649705720193621273020
ROCE %30%31%24%23%23%18%21%21%15%25%21%23%

Guidance history

How Zensar Technologies Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →0–10%FlatPlanned—Flat
Q4 FY26 call →0–10%FlatPlanned—Rising
Q3 FY26 call →0–10%FlatPlanned—Rising
Q2 FY26 call →10–20%Flat——Flat

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

23out of 100

Momentum score · price trend

23 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−33.0%19%
Last 6 months+4.6%60%
Last 3 months+3.1%69%

The price is 44.5% below its all-time high of ₹967.4 (1 Feb 2025). Stocks more than 20% below their peak have their score halved, so 45 became 23.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Zensar Technologies Ltd: 0.4 × 19 + 0.4 × 60 + 0.2 × 69 = 45, halved to 23 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Zensar Technologies Ltd's management said in earlier quarters

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