Zen Technologies Q4 Review: Decent Results; Motilal Oswal Downgrades To Neutral On Expensive Valuations

While Motilal Oswal remains positive about the company and its ability to capitalize on upcoming demand for simulators and anti-drones, its estimates and current valuations capture the positives related to upcoming orders and correspondingly 40% PAT CAGR over FY25-27. Zen has moved up by 74% since the brokerage's last update in Feb’25, thus downgrades the stock to Neutral and would look for better price points to enter the stock.