Zen Technologies Bags Rs 152-Crore Contract From Defence Ministry
The integrated air defence combat simulator improves coordination by simulating real-world scenarios in hyper-realistic virtual environments, minimising the need for expensive live training.
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Zen Technologies Ltd. has bagged an order worth Rs 152 crore from the Ministry of Defence for supply of integrated air defence combat simulator for the L70 gun, according to an exchange filing on Thursday.
The IADCS is a virtual simulation system developed to provide training for air defence operations. The combat simulator developed under Zen's internal research and development shows the company's "commitment to build proprietary technologies and intellectual property with strategic value to the armed forces", it said.
The order received by Zen reflects its belief in innovation and its ability to develop "world-class" indigenous solutions for the defence forces, according to Vice President Arjun Dutt Atluri. "With its successful induction, we foresee significant interest not only from within India but also from friendly foreign nations operating legacy air defence platforms like the L70 gun."
The IADCS improves coordination by simulating real-world scenarios in hyper-realistic virtual environments, minimising the need for expensive live training. It is scalable, adaptable and offers long-term operational and economic benefits, the filing added.
Shares of Zen Technologies closed 0.99% higher at Rs 1,457.20 apiece on the National Stock Exchange, compared to a 0.45% rise in the benchmark Nifty. The stock has risen 55.98% in the last 12 months but declined 40.42% on a year-to-date basis.
Five analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 16.2%.
