• Cannon manufacturing licenses: Zen Technologies has obtained government licenses to manufacture 12.7, 20, 23, 30, and 40 mm cannons to bundle with its anti-drone systems, targeting a couple-of-billion-dollar market over the next two years.
• Manufacturing and CapEx: The company plans to outsource 80% to 85% of component manufacturing while retaining critical subsystems and final integration in-house, requiring minimal CapEx that will be funded entirely through internal cash reserves.
• Revenue and margin targets: Management projects cumulative revenues of ₹4,000 crore across FY27 and FY28, while guiding for sustainable EBITDA margins of around 35% due to increased investments in indigenous R&D.
• Regulatory and export outlook: The company expects significant competitive advantage under the upcoming 2026 Defense Acquisition Procedure favoring IDDM players, alongside a resurgence in export demand driven by global military preparedness and anti-drone requirements.