Shares of Zen Technologies Ltd were trading in the green and almost 1% higher on 1 October after the company announced that it had received an Annual Maintenance Contract (AMC) for simulators from the Ministry of Defence worth Rs 46 crore, including 18% GST.

This five-year contract ensures the continuous maintenance of the Zen Tech-developed simulators.

In its regulatory filing, the company said, “This AMC solidifies Zen’s ongoing partnership with the Ministry of Defence and underscores the Ministry’s confidence in the company’s cutting-edge defence solutions. The agreement highlights Zen’s ability to meet the demanding operational needs of India’s defence forces through advanced simulator technology.”

As of this contract, “Zen continues to lead the way in the defence simulation space, ensuring the highest standards of operational readiness and maintenance support for the Ministry of Defence’s critical defence assets.”

With an emphasis on land-based military training simulators, driving simulators, live range equipment, and anti-drone systems, Zen Technologies provides military training and anti-drone solutions.

The Ministry of Science and Technology, Government of India, has accredited the Hyderabad-based company’s research and development centre. 

The company has produced more than 1,000 training systems worldwide and has submitted more than 155 patents, of which more than 75 have been approved.

The company’s shares have increased by more than 128% in the last year, more than doubling investors’ capital. 

However, at 12:22 pm, the shares of Zen Technologies were trading 0.44% lower at Rs 1,708.60 on NSE.

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