Zen Technologies expands into US region with strategic collaboration with AVT Simulation; shares close 3% higher

2 min read | Updated on December 05, 2024, 17:31 IST

SUMMARY

Zen Technologies is a pioneer in the design, development and manufacture of world-class, state-of-the-art training simulators. Following the announcement, shares of Zen Technologies jumped 3% higher to close at ₹1,892 apiece on the NSE.

Zen Technologies expands into US region with strategic collaboration with AVT Simulation; shares close 3% higher

Zen Technologies is making a strategic push into the U.S. defence market. The company has formalised its partnership with Applied Visual Technology Inc. D.B.A AVT Simulation, a premier provider of customised training systems, through a Memorandum of Understanding (MoU) inked in Florida. This collaboration will revolutionise simulation and training solutions for defence and security forces.

Following the announcement, shares of Zen Technologies jumped 3% higher to close at ₹1892 apiece on the NSE.

Zen, recognised for its innovation with over 155 patents and 1,000 systems deployed globally, has also showcased its advanced technologies at I/ITSEC 2024 in Orlando, the world’s largest event for modelling, simulation, and training.

This strategic alliance integrates Zen’s cutting-edge technologies with AVT’s expertise in delivering tailored simulation systems. Together, the companies will develop next-generation solutions for defence, emergency response, and commercial applications, addressing the surging demand for immersive, cost-effective training platforms in the U.S.

In the latest quarterly results, the company’s revenue jumped 264% YoY to ₹242 crore for Q2FY25 as against ₹66 crore in the previous year's similar quarter. Similarly, the operating profit for the quarter also jumped from ₹19 crore in Q2FY24 to ₹80 crore in Q2FY25. Lastly, the net profit for the company increased by over 3x to ₹63 crore from ₹14 crore in Q2FY24.

Zen Technologies is a pioneer in the design, development and manufacture of world-class, state-of-the-art training simulators.

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