Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹12,365Cr
Rev Gr TTM
Revenue Growth TTM
8.63%
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 5.1 | 2.0 | 0.5 | 0.5 | 1.4 | 5.0 | 5.4 | 10.1 | 10.5 | 7.5 | 8.7 | 7.9 |
| 1,037 | 997 | 1,010 | 997 | 1,027 | 1,092 | 1,107 | 1,119 | 1,146 | 1,174 | 1,201 | 1,181 |
Operating Profit Operating ProfitCr |
| 14.5 | 18.8 | 18.6 | 17.2 | 16.5 | 15.2 | 15.4 | 15.6 | 15.6 | 15.2 | 15.5 | 17.5 |
Other Income Other IncomeCr | 27 | 28 | 36 | 42 | 52 | 42 | 41 | 31 | 46 | 57 | 49 | 38 |
Interest Expense Interest ExpenseCr | 6 | 6 | 6 | 6 | 3 | 4 | 5 | 4 | 5 | 4 | 4 | 2 |
Depreciation DepreciationCr | 35 | 42 | 37 | 31 | 24 | 25 | 30 | 24 | 24 | 23 | 25 | 20 |
| 162 | 210 | 225 | 212 | 229 | 210 | 208 | 210 | 230 | 241 | 240 | 265 |
| 42 | 54 | 51 | 50 | 55 | 52 | 52 | 51 | 53 | 59 | 58 | 65 |
|
Growth YoY PAT Growth YoY% | -8.9 | 108.0 | 206.2 | 111.4 | 45.4 | 1.1 | -10.5 | -1.2 | 1.8 | 15.3 | 17.0 | 25.0 |
| 9.8 | 12.7 | 14.0 | 13.4 | 14.1 | 12.3 | 11.9 | 12.1 | 13.0 | 13.1 | 12.8 | 14.0 |
| 5.3 | 6.9 | 7.7 | 7.1 | 7.7 | 7.0 | 6.9 | 7.0 | 7.8 | 8.0 | 8.0 | 8.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 12.1 | 2.6 | 1.7 | 27.6 | 5.4 | -9.6 | 12.2 | 14.2 | 1.1 | 7.7 | 6.0 |
| 2,264 | 2,538 | 2,674 | 2,743 | 3,487 | 3,675 | 3,097 | 3,587 | 4,296 | 4,030 | 4,464 | 4,703 |
Operating Profit Operating ProfitCr |
| 14.8 | 14.8 | 12.5 | 11.7 | 12.1 | 12.1 | 18.1 | 15.5 | 11.4 | 17.8 | 15.5 | 16.0 |
Other Income Other IncomeCr | 27 | 45 | 24 | 74 | 93 | 88 | -24 | 138 | 103 | 159 | 160 | 190 |
Interest Expense Interest ExpenseCr | 11 | 11 | 9 | 23 | 37 | 61 | 54 | 35 | 28 | 21 | 17 | 15 |
Depreciation DepreciationCr | 42 | 45 | 49 | 65 | 89 | 159 | 175 | 185 | 183 | 134 | 102 | 92 |
| 366 | 429 | 349 | 352 | 445 | 376 | 433 | 574 | 444 | 876 | 858 | 976 |
| 101 | 117 | 110 | 105 | 127 | 104 | 126 | 152 | 117 | 211 | 208 | 235 |
|
| | 17.9 | -23.6 | 3.4 | 29.3 | -14.8 | 13.0 | 37.4 | -22.3 | 103.0 | -2.3 | 13.9 |
| 10.0 | 10.5 | 7.8 | 7.9 | 8.0 | 6.5 | 8.1 | 9.9 | 6.8 | 13.6 | 12.3 | 13.2 |
| 12.1 | 13.0 | 10.5 | 10.8 | 13.9 | 11.7 | 13.3 | 18.4 | 14.5 | 29.4 | 28.6 | 32.6 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 44 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 45 | 46 |
| 1,113 | 1,381 | 1,427 | 1,624 | 1,897 | 2,045 | 2,297 | 2,642 | 2,931 | 3,517 | 4,024 | 4,234 |
Current Liabilities Current LiabilitiesCr | 534 | 553 | 580 | 530 | 951 | 1,039 | 738 | 827 | 858 | 854 | 882 | 929 |
Non Current Liabilities Non Current LiabilitiesCr | 42 | 40 | 47 | 84 | 180 | 442 | 324 | 326 | 287 | 232 | 221 | 205 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 1,124 | 1,399 | 1,467 | 1,463 | 1,938 | 2,058 | 1,993 | 2,262 | 2,318 | 2,594 | 3,315 | 3,446 |
Non Current Assets Non Current AssetsCr | 610 | 624 | 639 | 833 | 1,152 | 1,538 | 1,441 | 1,578 | 1,803 | 2,054 | 1,858 | 1,966 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 321 | 259 | 304 | 206 | 156 | 686 | 858 | 336 | 714 | 642 | 565 |
Investing Cash Flow Investing Cash FlowCr | -182 | -42 | -190 | -157 | -241 | -315 | -528 | -18 | -528 | -475 | -488 |
Financing Cash Flow Financing Cash FlowCr | -87 | -130 | -50 | -204 | 201 | -197 | -467 | -183 | -219 | -197 | -265 |
|
Free Cash Flow Free Cash FlowCr | 283 | 216 | 269 | 154 | 104 | 608 | 819 | 279 | 681 | 627 | 530 |
| 121.1 | 83.0 | 127.7 | 83.5 | 49.0 | 252.7 | 279.5 | 79.6 | 218.0 | 96.6 | 87.0 |
CFO To EBITDA CFO To EBITDA% | 81.8 | 58.8 | 79.7 | 56.4 | 32.5 | 135.3 | 125.3 | 51.1 | 129.4 | 73.7 | 69.2 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 2,844 | 4,150 | 4,151 | 4,052 | 5,216 | 1,950 | 6,188 | 8,313 | 6,202 | 13,720 | 15,923 |
Price To Earnings Price To Earnings | 11.2 | 14.3 | 17.9 | 16.8 | 16.6 | 7.4 | 20.6 | 19.9 | 18.9 | 20.6 | 24.5 |
Price To Sales Price To Sales | 1.1 | 1.4 | 1.4 | 1.3 | 1.3 | 0.5 | 1.6 | 2.0 | 1.3 | 2.8 | 3.0 |
Price To Book Price To Book | 2.5 | 3.3 | 2.8 | 2.4 | 2.7 | 0.9 | 2.6 | 3.1 | 2.1 | 3.9 | 3.9 |
| 7.0 | 9.1 | 10.3 | 10.6 | 10.7 | 3.4 | 8.0 | 11.9 | 10.4 | 15.1 | 18.7 |
Profitability Ratios Profitability Ratios |
| 93.7 | 94.9 | 95.3 | 96.9 | 96.9 | 96.3 | 96.9 | 97.4 | 97.3 | 99.8 | 99.0 |
| 14.8 | 14.8 | 12.5 | 11.7 | 12.1 | 12.1 | 18.1 | 15.5 | 11.4 | 17.8 | 15.5 |
| 10.0 | 10.5 | 7.8 | 7.9 | 8.0 | 6.5 | 8.1 | 9.9 | 6.8 | 13.6 | 12.3 |
| 30.0 | 27.9 | 22.3 | 22.3 | 21.9 | 18.3 | 20.8 | 20.2 | 14.5 | 23.9 | 20.9 |
| 22.9 | 21.9 | 16.2 | 14.8 | 16.4 | 13.0 | 13.1 | 15.7 | 11.0 | 18.7 | 16.0 |
| 15.3 | 15.4 | 11.3 | 10.7 | 10.3 | 7.5 | 8.9 | 11.0 | 8.0 | 14.3 | 12.6 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Company Profile**
Zensar Technologies Ltd, headquartered in Pune, India, is a global digital transformation and technology solutions provider within the $5.2 billion RPG Group. As of 2025, the company serves **over 170 global clients**, including Fortune 500 and Fortune 2000 enterprises, across banking, insurance, retail, healthcare, manufacturing, telecommunications, and the high-tech sector. With a workforce of **over 10,700 professionals** operating across **30+ global locations**—including key tech hubs in San Jose, London, Singapore, Cape Town, and Mexico City—Zensar combines deep domain expertise with cutting-edge technology to deliver client-centric digital innovation.
Zensar is strategically evolving into an **AI-first, cloud-native organization**, with strong partnerships with hyperscalers such as AWS, Google Cloud (GCP), Microsoft Azure, and Oracle, and technology leaders including Adobe, SAP, Salesforce, Guidewire, Veeva, and Snowflake.
---
### **Core Service Offerings**
Zensar’s services are organized into five strategic domains:
1. **Experience Services (CX)**: End-to-end customer experience design, branding, digital marketing, UX/CX strategy, and Digital Experience Platforms (DXPs) like DEXA, a proprietary Adobe-accredited accelerator.
2. **Advanced Engineering Services (AES)**: Full-stack, cloud-native development, generative AI, microservices modernization, and legacy system transformation.
3. **Data Engineering and Analytics (DE&A)**: AI/ML, MLOps, predictive analytics, semantic data modeling, master data management (MDM), and data governance solutions.
4. **Enterprise Applications (SaaS)**: Implementation and management of Salesforce, SAP, Oracle, Guidewire, and Veeva platforms.
5. **Cloud Infrastructure and Security (CIS)**: Cloud migration, zero-trust security, infrastructure management, and AIOps-driven autonomous operations via Vinci™ platform.
---
### **Strategic Focus & AI-Driven Innovation**
Zensar is at the forefront of leveraging **artificial intelligence** and **generative AI (Gen AI)** to drive enterprise transformation. The company has developed four **AI Solution Stacks**:
- **Enterprise AI**
- **Responsible AI**
- **Enterprise Cognitive Hyper Automation**
- **Multimodal Micro Vertical Solutions**
Key proprietary Gen AI platforms include:
- **Engineering Buddy**: AI assistant for software developers to boost productivity, enhance code quality, and automate modernization.
- **Data Buddy**: Platform for AI-powered data engineering and contextual data pipelines.
- **Business Avatar**: AI agent for business simulation and decision support.
- **Underwriting Assistant**: Gen AI solution for automating insurance underwriting.
- **VISCA**: Vision-based image search and recognition platform.
Zensar emphasizes **Responsible AI**, including anti-jailbreak mechanisms and ethical deployment frameworks. The company has also created **private and specialized language models (SLMs)** for secure, industry-specific client applications.
---
### **Innovation & R&D – ZenLabs**
The **ZenLabs** innovation hub, located in Pune, Hyderabad, and Bengaluru (including a new office at Bengaluru’s Shilpa Ananya Tech Park), acts as the company’s center for applied research in AI, blockchain, Web3, quantum computing, and sustainability. With over 75 professionals, Zenlabs has:
- Filed **10 patents** in FY 2024–25
- Published **over 20 AI-driven offerings** on AWS and Azure marketplaces
- Developed **12+ AI/ML accelerators** across healthcare, pharma, manufacturing, supply chain, and BFSI
- Co-developed solutions with academic and industry partners through PhD integration and hackathons
Zensar also launched the **GenAI Ignite Training Academy**, upskilling engineers through eLearning, hands-on labs, and certifications from AWS, Microsoft, and GCP.
---
### **Recent Client Engagement Highlights (2025)**
- **Media & Retail Transformation (South Africa)**: Modernized a legacy content management system using AI and Agile on Google Cloud. The system auto-generates UI components and unit tests from tribal knowledge, improving **application performance by 70%** and **operational efficiency by 30%**.
- **Global Payments Provider**: Developed a proprietary AI system for **Merchant Category Code (MCC) classification**, achieving **~90% accuracy** (vs. 70% target), reducing revenue leakage and enhancing compliance.
- **Retail Insurance Analytics (USA)**: Built a real-time **AI-driven claim risk scoring system** on Azure ML Studio. The model improved **precision from 12% to 65%**, **recall to 70%**, and **accuracy to 96%**, processing 400,000 claims monthly.
- **Fleet Management Portal**: Scaled a mobility technology solution for an oil & gas major, now serving **160,000 users across 35 markets**.
---
### **Strategic Growth Moves**
- **Acquisition of BridgeView Life Sciences (USA)**: Strengthens Healthcare and Life Sciences (HLS) vertical, providing expertise in **pharmaceutical commercial services, regulatory compliance, and Veeva/ IQVIA/Snowflake integrations**.
- **Healthcare & Life Sciences (HLS) Vertical**: New dedicated practice with focus on digital transformation in pharma, med-tech, payers, and providers.
- **Sales Transformation**: Established a **dedicated US sales team** for next-gen offerings and shifted presales into **solution architects** to drive integrated, cross-service deals.
- **Global Expansion**: Strengthened foothold in **US, EU, UK, and South Africa**, with 89–91% of revenue from exports. **20.8% of business comes from Europe**, with strong momentum in South African digital innovation.
---
### **Digital Transformation & Cloud Leadership**
Zensar continues to lead in **cloud-first modernization**, leveraging platforms such as:
- **Google Cloud Platform (GCP)**
- **Microsoft Azure**
- **Oracle Cloud Infrastructure (OCI)**
Recent projects include:
- Migration of Oracle databases to OCI for improved scalability and cost-efficiency.
- Development of a **three-tier Azure architecture** for a healthcare client to support compliance and future R&D.
- AI-powered **Knowledge Assistant for a UN agency** using GCP, semantic search, and conversational AI.
Proprietary tools like **Velocity Stack™** offer reusable frameworks for cloud migration (Cloud RAFT, 1C Foundation, Transform2Micro), enhancing speed and consistency.
---
### **Corporate Strategy & Vision**
Zensar’s long-term vision is to become a **global leader in AI and cloud innovation**, built on:
- **AI-First Culture**: Embedding AI across people, processes, and products.
- **Client-Centricity**: Strengthening relationships through digital mining, annual assessments, and outcome-based engagements.
- **Operational Excellence**: Focused on talent development, delivery scalability, and MLOps/DevSecOps maturity.
- **Sustainability & Responsibility**: Investing in green technologies, controlled AI, and energy-efficient data centers.
The company operates with a **strategic roadmap** to position itself as a **premier-tier hyperscaler partner** and expand **Zenlab** capabilities.
---
### **Financial & Operational Highlights**
- **Parent Group**: RPG Enterprises – $5.2B revenue
- **Global Delivery Footprint**: 30+ locations, 5 Indian states, 16+ countries
- **Data Centers**: 1,872 sq. ft., 555KW power, with redundancy, backup power, and precision cooling
- **Revenue**: ~$592.3M in FY 2023/24, with consistent growth in digital and AI services
- **Foreign Exchange Earnings (FY 2024–25)**: ₹21,676 million, with outgo of ₹263 million
---
### **Key Differentiators**
- **Integrated Experience-to-Engineering Continuum**
- **Proprietary AI Platforms and Accelerators (Engineering Buddy, Data Buddy, DEXA, Velocity Stack)**
- **Strong Vertical Expertise in BFSI, HLS, TMT, Retail, and Manufacturing**
- **Innovation-Led Differentiation via ZenLabs and Co-Innovation**
- **Global Alliances with Hyperscalers and ISVs**
- **Human-Centric AI Approach – “Experience-Led Everything” (ELE)**