Financials Zensar Technologies Limited NSE India S.E.

Equities

ZENSARTECH

INE520A01019

IT Services & Consulting

End-of-day quote NSE India S.E. 5-day change 1st Jan Change
- INR -.--% Intraday chart for Zensar Technologies Limited -4.99% +38.24%

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 52,164 19,496 61,876 83,129 62,040 142,045 - -
Enterprise Value (EV) 1 48,385 17,369 56,491 77,923 57,490 137,204 124,994 120,358
P/E ratio 16.9 x 7.5 x 20.8 x 20.1 x 19 x 20.8 x 21.3 x 19.4 x
Yield 1.21% 3.24% 0.88% 1.36% 1.83% 1.26% 1.33% 1.5%
Capitalization / Revenue 1.32 x 0.47 x 1.64 x 1.96 x 1.28 x 2.8 x 2.7 x 2.43 x
EV / Revenue 1.22 x 0.42 x 1.49 x 1.84 x 1.19 x 2.8 x 2.38 x 2.06 x
EV / EBITDA 10.1 x 3.43 x 8.25 x 11.9 x 10.4 x 15.7 x 14.2 x 12.2 x
EV / FCF 46.7 x 3.19 x 6.9 x 28 x 8.49 x 25.2 x 24.1 x 20.4 x
FCF Yield 2.14% 31.4% 14.5% 3.57% 11.8% 3.97% 4.14% 4.91%
Price to Book 2.68 x 0.93 x 2.64 x 3.09 x 2.08 x 4.16 x 3.5 x 3.19 x
Nbr of stocks (in thousands) 225,185 225,391 225,620 226,201 226,465 226,656 - -
Reference price 2 231.6 86.50 274.2 367.5 274.0 626.7 626.7 626.7
Announcement Date 4/30/19 5/14/20 4/29/21 5/10/22 5/11/23 4/25/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 39,663 41,817 37,814 42,438 48,482 49,019 52,595 58,354
EBITDA 1 4,794 5,071 6,848 6,565 5,522 8,717 8,801 9,850
EBIT 1 3,900 3,479 5,101 4,717 3,692 7,379 7,656 8,629
Operating Margin 9.83% 8.32% 13.49% 11.12% 7.62% 15.05% 14.56% 14.79%
Earnings before Tax (EBT) 1 4,454 3,758 4,329 5,741 4,441 8,758 8,957 9,914
Net income 1 3,136 2,634 3,000 4,163 3,276 6,650 6,738 7,389
Net margin 7.91% 6.3% 7.93% 9.81% 6.76% 13.57% 12.81% 12.66%
EPS 2 13.70 11.53 13.18 18.27 14.40 29.13 29.36 32.35
Free Cash Flow 1 1,036 5,447 8,185 2,779 6,775 5,070 5,178 5,909
FCF margin 2.61% 13.03% 21.65% 6.55% 13.97% 10.32% 9.85% 10.13%
FCF Conversion (EBITDA) 21.61% 107.42% 119.52% 42.33% 122.69% 57.91% 58.84% 59.99%
FCF Conversion (Net income) 33.04% 206.78% 272.81% 66.75% 206.81% 79.95% 76.85% 79.96%
Dividend per Share 2 2.800 2.800 2.400 5.000 5.000 7.900 8.362 9.412
Announcement Date 4/30/19 5/14/20 4/29/21 5/10/22 5/11/23 4/25/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 9,344 8,763 9,368 10,506 11,025 11,538 12,034 12,346 11,976 12,126 12,272 12,424 11,953 12,218 12,733
EBITDA 1 1,854 1,722 1,725 1,612 1,585 1,642 1,361 1,054 1,349 1,758 2,301 2,008 1,978 2,059 2,148
EBIT 1 1,428 1,277 1,300 1,144 1,111 1,161 871 562 852 1,407 1,878 1,589 1,563 1,718 -
Operating Margin 15.28% 14.57% 13.88% 10.89% 10.08% 10.06% 7.24% 4.55% 7.11% 11.6% 15.3% 12.79% 13.07% 14.06% -
Earnings before Tax (EBT) - 1,215 1,395 - 1,263 1,796 - - 1,035 - - 1,837 1,830 1,980 2,212
Net income 1 1,379 883.4 1,010 944 910 1,299 751 568 765 1,192 1,562 1,329 1,357 1,502 1,670
Net margin 14.76% 10.08% 10.78% 8.99% 8.25% 11.26% 6.24% 4.6% 6.39% 9.83% 12.73% 10.7% 11.35% 12.3% 13.12%
EPS 2 6.030 3.880 4.440 4.160 4.010 5.700 3.290 2.480 3.360 5.240 6.840 6.050 5.867 6.540 -
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 1/21/21 4/29/21 7/26/21 10/26/21 1/24/22 5/10/22 8/5/22 10/20/22 1/23/23 5/11/23 7/20/23 - - - -
1INR in Million2INR
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - - - - - -
Net Cash position 1 3,779 2,127 5,386 5,206 4,550 14,241 17,051 21,687
Leverage (Debt/EBITDA) - - - - - - - -
Free Cash Flow 1 1,036 5,447 8,185 2,779 6,775 5,071 5,178 5,909
ROE (net income / shareholders' equity) 17.4% 13.1% 13.5% 16.6% 11.6% 19.8% 17.6% 17.7%
ROA (Net income/ Total Assets) - 7.88% 8.54% 11.4% - 14% - -
Assets 1 - 33,426 35,145 36,523 - 45,302 - -
Book Value Per Share 2 86.30 92.70 104.0 119.0 131.0 150.0 179.0 197.0
Cash Flow per Share 4.600 - - - - - - -
Capex 1 524 782 395 568 368 889 1,165 1,174
Capex / Sales 1.32% 1.87% 1.04% 1.34% 0.76% 1.81% 2.22% 2.01%
Announcement Date 4/30/19 5/14/20 4/29/21 5/10/22 5/11/23 4/25/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
626.7 INR
Average target price
655.1 INR
Spread / Average Target
+4.54%
Consensus
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