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Zensar Technologies Ltd (ZENSARTECH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 504067 NSE: ZENSARTECH IT - Software | Small Cap | Zensar Technologies Share Price

₹507.85 60.95 (13.64%)

As on 10-Jul'26 16:59

Zensar Technologies Ltd (ZENSARTECH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 504067 NSE: ZENSARTECH IT - Software | Small Cap | Zensar Technologies Share Price

₹507.85 60.95 (13.64%)

As on 10-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹11,555 Cr.
Current Price
₹507.9
52-Week Low / High
₹423 / 869
TTM EPS
₹34
TTM Sales
₹5,687 Cr.
Book Value per Share
₹201.6
P/E Ratio
14.92
Lower than its 5-year historical median
Industry PE
20.9
Price to Book (P/B)
2.52
Lower than its 5-year historical median
Price to Sales (P/S)
2.03
Lower than its 5-year historical median
EV/EBITDA
9.24
Lower than its 5-year historical median
Dividend Yield
2.95%
Profitability Efficiency
Return on Equity (ROE)
18.01%
Outperforms industry median
Return on Capital Employed (ROCE)
23.53%
Outperforms industry median
Return on Assets (ROA)
14.03%
Operating Profit Margin
16.1%
Net Profit Margin
13.62%
Gross Profit Margin
20%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
7.7%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
17.34%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
19.21%
Asset Quality
Promoter Holding
49.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹4,542 Cr.
Equity
₹45.5 Cr.
Face Value
₹2
All Time Low / High
₹0.94 / 985.00

Zensar Technologies stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 Is Zensar Technologies Ltd a good quality company?
Zensar Technologies Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Zensar Technologies Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Zensar Technologies Ltd vs industry peers?
Zensar Technologies Ltd revenue CAGR is 4.78%, compared to the industry median CAGR of 2.48%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Zensar Technologies Ltd?
Promoters hold 49.00% of the Zensar Technologies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Zensar Technologies Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 9.6% based on the current price.

DeciZen - make an informed investing decision on Zensar Technologies

Decision Maker
Consolidated basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Zensar Technologies Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 23.7%22.8%24.6%18.7%20.4%24.3%16.7%27.4%22.9%23.5%-
Value Creation
Index
0.70.60.80.30.50.80.21.00.70.7-

Growth Parameters

Sales 3,0563,1083,9664,1823,7814,2444,8484,9025,2815,6875,687
Sales YoY Gr.-1.7%27.6%5.4%-9.6%12.2%14.2%1.1%7.7%7.7%-
Adj EPS 10.49.31310.415.217.313.529.429.734.134
YoY Gr.--10.7%39.9%-20%46.2%14%-22%118%1%14.8%-
BVPS (₹) 64.873.68591.2103.2117.9130.5155.7176.9202.5201.6
Adj Net
Profit
233209292234342391305667674772775
Cash Flow from Ops. 304206156686858336714642565771-
Debt/CF from Ops. 0.40.11.90.5000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7.2%8.5%5.5%7.7%
Adj EPS 14.1%17.6%36.2%14.8%
BVPS13.5%14.4%15.8%14.5%
Share Price 9.7% 8.7% 8.7% -37.9%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
1713.316.211.615.515.610.820.417.717.616.9
Op. Profit
Mgn %
12.210.711.710.6161511.317.415.516.116.1
Net Profit
Mgn %
7.86.97.55.89.29.46.313.612.813.613.6
Debt to
Equity
0.100.20.20000000
Working Cap
Days
126132130134118103979697101117
Cash Conv.
Cycle
4448423729262622202285

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales3,0563,1083,9664,1823,7814,2444,8484,9025,2815,687
Operating Expenses > + 2,6842,7743,5213,7403,1893,6174,3114,0504,5004,771
Manufacturing Costs1191151151149510911395113136
Material Costs13784500000
Employee Cost 1,5961,7052,1532,3472,1532,5753,1233,1023,3903,631
Other Costs > 9579471,2451,2749379331,0768549971,005
Operating Profit > 371334446442592627537852781916
Operating Profit Margin (%) 12.2%10.7%11.2%10.6%15.7%14.8%11.1%17.4%14.8%16.1%
Other Income > + 35106126154118168118178196234
Exceptional Items > 0000-490000-25
Interest > 9233761543728211712
Depreciation > 49658915917518518313410291
Profit Before Tax > 3493524453764335744448768581,022
Tax > 110105127104126152117211208247
Profit After Tax 238246319272307422328665650775
PAT Margin (%) 7.8%7.9%8.0%6.5%8.1%9.9%6.8%13.6%12.3%13.6%
Adjusted EPS (₹)10.510.713.911.713.318.414.529.428.634.2
Dividend Payout Ratio (%)22.90%22.40%20.10%24%27.10%27.10%34.60%30.70%45.40%43.90%

Valuation of Zensar Technologies - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 1,4531,6551,9142,0562,3282,6642,9563,5264,0174,587
Share Capital 45454545454545454545
Reserves 1,4081,6101,8692,0112,2822,6192,9103,4813,9714,542
Debt +1316258289000000
Long Term Debt0610265000000
Short Term Debt1300156223000000
Minority Interest71417242900000
Trade Payables175184301265220316277310344367
Others Liabilities 3224075559138088057927027051,019
Total Liabilities 2,0882,2653,0453,5463,3843,7864,0254,5385,0655,973

Fixed Assets

Net Fixed Assets +4475929501,3231,1331,2541,1741,0341,1701,223
Gross Block5747861,2061,6961,5721,8151,9991,9722,1882,010
Accumulated Depreciation1271952563734395618269381,018787
CWIP 36121101051176
Investments 2432751152785173248991,4081,7141,921
Inventories1131069894000000
Trade Receivables533642876666589797730732790924
Cash Equivalents 329207326517699856728724744932
Others Assets 421438668657447554495634647798
Total Assets 2,0882,2653,0453,5463,3843,7864,0254,5385,0655,973

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 304206156686858336714642565771
PBT 3493524453764335744448768581,022
Adjustment 789611219025015515147-16-9
Changes in Working Capital -20-138-262235315-242211-48-55-47
Tax Paid -102-104-139-115-140-152-93-233-221-195
Cash Flow From Investing Activity + -190-157-241-315-528-18-528-475-488-241
Capex -35-52-52-78-39-57-33-15-35-52
Net Investments -158-111-179-183-49033-482-529-424-328
Others 36-10-5416-1269-29139
Cash Flow From Financing Activity + -50-204201-197-467-183-219-197-265-401
Net Proceeds from Shares 5312230000
Net Proceeds from Borrowing -1-4128-42-10600000
Interest Paid -9-10-13-12-4-1-4-3-00
Dividend Paid -26-63-61-112-27-88-113-125-204-304
Others -19-130146-32-332-97-102-70-60-97
Net Cash Flow 64-155116174-137135-32-30-187129

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)17.615.8617.8613.6814.0116.911.6620.5217.2318.01
ROCE (%)23.6722.7924.6218.7120.4224.2916.6727.4322.9323.53
Asset Turnover Ratio1.551.431.491.271.091.181.241.141.11.03
PAT to CFO Conversion(x)1.280.840.492.522.790.82.180.970.870.99
Working Capital Days
Receivable Days64.106969.9067.3060.5059.6057.5054.4052.6055
Inventory Days14.3012.809.408.40000000
Payable Days4,718.109,813.2000000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Zensar Technologies Ltd FAQs

The current trading price of Zensar Technologies on 10-Jul-2026 16:59 is ₹507.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 09-Jul-2026 the market cap of Zensar Technologies stood at ₹11,555.3 Cr

The latest P/E ratio of Zensar Technologies as of 09-Jul-2026 is 16.84.

The latest P/B ratio of Zensar Technologies as of 09-Jul-2026 is 3.41.

The 52-week high of Zensar Technologies is ₹868.5 and the 52-week low is ₹423.4.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Zensar Technologies is ₹2,739 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Zensar Technologies Ltd is a good quality company.

The key valuation ratios of Zensar Technologies Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Zensar Technologies Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Zensar Technologies Ltd

Zensar Technologies (Zensar) is a prominent global provider of technology solutions, recognized for delivering innovative digital strategies that facilitate business transformation. The company specializes in design, data engineering and advanced analytics, assisting organizations in successfully navigating the complexities of the evolving digital landscape. Zensar enables its clients to innovate and succeed by conceptualizing, building and managing digital products that address the demands of modern business environments worldwide. Zensar is a part of the RPG Group, and it serves many clients globally, offering tailored solutions that improve efficiency, performance and long-term value.

Business area of the company

Zensar Technologies is one of the leading technology solutions companies, renowned for its prowess in delivering innovative digital solutions through its expertise in experience design, data engineering and advanced analytics. The company enables its clients to thrive and succeed in a dynamic environment by conceptualising, building and managing digital products. 

Services offered by the company

  • Experience Services (CX) 
  • Advance Engineering Services (AES) 
  • Data Engineering and analytics (DE&A) 
  • Enterprise Application (SAAS) 
  • Cloud Infrastructure and security (CIS)

Awards and Recognitions

2017-18

  • TDWI award for Enterprise BI.
  • 5th rank in the global supply chain.

2018-19

  • Won People Matters L&D Award for ‘Best in Future Tech Skill Building.
  • Honoured by Skillsoft and SumTotal as an Innovation Award winner in ‘Creating an Impact-IT Skills’ category at their India Perspectives 2018 Conference.

2019-20

  • iInspire award for Best Practices in Gender Diversity in 2019.
  • Featured in the 100 Best Company for Women in 2019.
  • Zensar Woman Leader awarded ‘Tech Beacon’ in WEQUITY Awards.
  • Participated in McKinsey’s Women in Workplace study in 2019.

2020-21

  • Augmented/ Virtual Reality Innovation of the Year at International SDC awards.
  • The 2021 Big Innovation Awards for work done by ZenLabs on building client-focused solutions across nextgeneration technologies.
  • Chairman’s Award - Innovation Festival 2020-21 at RPG Innovation Festival Season-3 for blockchain solution on “ZenConfluence: Subcontractor Management System”.

2021-22

  • 1st Runner-Up of the 2021 UN Women India WEPs Awards (Transparency and Reporting Category).
  • Recognized in Blogathon contest organized by WiT, ACE - in Top 21 at India level 2021.
  • WEQUITY Tech Beacon Award to seniormost leader.
  • Recognized in Top 5 for Most Innovative Practices - Women Leadership Development and Top 20 for Most Innovative Practices - DivHERsity Policies, Most Innovative Practices - DivHERsity Programs and Companies in Diversity (Large Enterprises) and DivHERsity Champions (Large Enterprises) to D&I Leader in 2022.
  • Recognized in Top 20 for Women Leadership Development, Diversity Programs, and Companies in Diversity (Large Enterprises) in 2021.

2022-23

  • Won the British Interactive Media Association (BIMA) Silver Award for Best Digital Transformation (Zensar and Foolproof).
  • Recognized as a Star Performer and Major Contender in the Everest Group Data and Analytics Services PEAK Matrix Assessment, 2022.
  • Named a Top Employer in South Africa for two consecutive years (2022 and 2023).
  • Shortlisted among the top case studies in the NASSCOM Business Process Innovation Showcase, 2022, in the category of Innovative Platform - Service Partnerships - Accelerating Impact.

2023-24

  • Best in Vulnerability Management (IT Services) at the 2nd Annual Quantic India Cybersecurity Excellence Awards.
  • Shortlisted among the Top Case Studies in the NASSCOM Business Process Innovation Showcase 2022.
  • Indigo Slate, a Zensar company, won Gold and Bronze at the Telly Awards 2023 in recognition of the Amazon Alexa YouTube Series.
  • Foolproof, a Zensar company, won CRO Agency of the Year 2022.
  • Zensar and Foolproof received the BIMA Silver Award for Best Digital Transformation.
  • Winner of CFBP Jamnalal Bajaj Award for Fair Business Practices under the Service category of the Year 2022.
  • Recognized for Innovative Digital Transformation for Banking and Finance and AI-Powered Innovation (The Vinci) in the Enterprise category.
  • Platinum winner in Branding Refresh and Marketing Collateral and Gold winner in Marketing Materials 
  • Foolproof, a Zensar company, named one of the BIMA10 by the British Interactive Media Association for its work with One Shot Immersive
  • Won multiple awards at the 11th Annual TISS LeapVault CLO Awards.
  • Foolproof, a Zensar company, won the Most Effective Use of AR and VR Award for a Client Project 
  • ISG Star of Excellence 2023 Award Winner.
  • Winner of 2023 Avasant Digital Masters Award.
  • Innovation Awards - Analyst Recognitions for Zenlabs - IRPAC Awards (2023, 2024) and Best Data Scientist 2023.

2024-25

  • Recognition for Best Digital Learning Initiative at the 17th Future of L&D Summit & Awards 2024
  • Acknowledgement as Best Soft Skill Development Program (Bronze) at the Economic Times ETHRWorld Future Skills Awards 2024
  • CISO Excellence Award for Excellence in Tech Innovation and Leadership by CIO News at EmergeTech 2024
  • Recognition for Excellence in Cybersecurity at the Indian Cyber League Hackathon, organized by the CIO Association.
  • Platinum Award for Leader of the Year 2024-25 (Sustainability) from iNFHRA Workplace Excellence Conference and Awards for integrating sustainability principles.
  • Biodiversity Champion Award (Silver) at the Times Now 6 Global Sustainability Alliance – SDG Summit, Climate Action Awards for contributions to biodiversity conservation and environmental protection.
  • Excellence in Employability and Skill Development Award 2024 by Indian CSR Awards for enhancing the employability and skills of its workforce and communities.
  • Recognized as Leader and Star Performer in Everest Guidewire Services PEAK Matrix Assessment 2024.
  • Named a 2025 Training APEX Awards winner for the fourth consecutive year.
  • Recognition as a WOW Workplace (Workplace of Winners) for FY 2024-25 in the IT, ITES, and GCC category.
  • Zensar South Africa was certified as a Top Employer for the fourth consecutive year.

Milestones

  • 1922: International Computers Indian Manufacture (ICIM) is born.
  • 1964: Gets listed on BSE.
  • 1968: International Computers Indian Manufacture (ICIM) becomes subsidiary of International Computers Ltd. (ICL) UK.
  • 1988: ICL merges with the RPG Group.
  • 1994: ICIM becomes Fujitsu ICIM Ltd.
  • 1994: Launches a new software division.
  • 2001: Fujitsu ICIM Ltd. becomes Zensar Technologies.
  • 2001: Opens global delivery centers across the US and UK.
  • 2005: Acquires Thought Digital and OBT Global.
  • 2007: Fujitsu sells stake to RPG Group.
  • 2007: Opens GDCs in South Africa, the Middle East and Japan.
  • 2010: Acquires Akibia.
  • 2010: Opens GDCs in North America, China and South Africa.
  • 2014: Acquires Professional Access.
  • 2014: Celebrates 50 years of being listed on the BSE.
  • 2017: Lauhches Zenlabs, Pune.
  • 2017: Acquires Foolproof and Keystone Logic.
  • 2018: Acquires Cynosure and Indigo Slate.
  • 2019: More than 10000 global associates.
  • 2019: Opens delivery centers in Mexico, Canada and Poland.
  • 2021: More than 33 global location and acquired M3BI.
  • 2021: Sets up Zensar Studios in the US, Europe and Africa.
  • 2021: Unveils a new brand identy.
  • 2022: Opens a new office in Kolkata, India.
  • 2023: Unveiled the Zensar Learning Academy in Pune, India.
  • 2023: Achieved the Guidewire PartnerConnect Testing Standards specialization.
  • 2024: Acquired BridgeView Life Sciences LLC.
  • 2025: Collaborated with Tesco Insurance and Money Services.

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