Zen Technologies stock gains nearly 3% on securing patent for mine detection system; check details

In a filing to the stock exchanges on August 19, the company said that it secured the patent grant for a mine detection system in India.

“This innovation represents a significant advancement in minefield reconnaissance, planning, and clearance. It offers a safer, more efficient and accurate method for detecting mines,” the company said in a release.

The defence technology firm informed the bourses that the mine detection system uses GPS/GIS technology to record and store the coordinates of mines, including Latitude/Longitude and military grid, in Defence Series Maps (DSM).

This feature allows the system to accurately navigate to these recorded coordinates and helps in the safe retrieval of mines.

It is designed to operate in extreme conditions, functioning at temperatures between -25°C and +45°C and altitudes up to 15,000 feet above sea level.

The equipment is designed to be user-friendly, providing easy-handling devices that allow soldiers to safely lay and retrieve mines, even during the night.

It also ensures that existing mine-laying drills and procedures remain largely unchanged, making it easy to use in the field.

According to the company, the patent, granted on August 16, 2024, highlights Zen Technologies' steadfast dedication to innovation and excellence in the Indian defence industry.

This achievement adds to the company's growing portfolio of patented technologies, reinforcing its role as a leader in defence solutions.

Last month, the company posted strong Q1 results. Its operating EBITDA increased 61.58% year-on-year to ₹111.35 crore in the June quarter However, the operating EBITDA margin fell to 43.73% from 52.03% in the same period last year.

The company’s consolidated revenue from operations increased 92.23% YoY to ₹254.61 crore in the first quarter of FY25. The Q1 net profit increased 64.11% to ₹79.48 crore.

In Q1FY25, the company launched 4 major IP-owned innovations – Hawkeye, Barbarik-URCWS (Ultralight Remote Control Weapon Station), Prahasta and Sthir Stab 640. The news technology solutions will cater to a wide range of defence requirements, empowering forces with tactical superiority and enhanced operational efficiency.

Zen Technologies shares closed 0.050% higher at ₹1,702.8 apiece on the NSE.