# Zensar Technologies (ZENSARTECH) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/zensartech

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹568.8
- Change: +0.54%
- As of: 2026-11-06
- 1D return: +0.54%
- 5D return: +6.22%
- 1M return: +28.75%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

ZENSARTECH (₹568.80) exhibits a strong daily uptrend, trading above all key moving averages and the Supertrend, supported by an ADX of 44.7. This bullish momentum is corroborated by a +6.1% upward gap on November 5 and a Morning Star pattern formation. However, the stock is positioned near the upper end of its 20-day (+90.5%) and 50-day (+92.0%) ranges, suggesting potential for short-term consolidation. While the weekly trend is also bullish, the monthly structure shows price below major moving averages despite a bullish Supertrend, indicating a longer-term recovery phase rather than a sustained bull market. Risk remains elevated with annualized volatility at +39.6% and a current drawdown of -38.2%. Immediate resistance lies at ₹573.22 (+0.78%), while support is found at ₹557.95 (-1.91%).

- Daily Trend: Strong bullish momentum (ADX 44.7) with price above all daily MAs and Supertrend; confirmed by Nov 5 upward gap (+6.1%) and Morning Star pattern.
- Range Position: Trading near recent highs (+90.5% in 20-day range), approaching immediate resistance at ₹573.22; monthly trend remains mixed with price below MAs.
- Risk Profile: High volatility (+39.6%) and significant historical drawdown (-38.2%); ATR indicates ~3.92% daily price swings.
- Monitoring Levels: Upside confirmation requires holding above ₹557.95 support; downside risk increases if price breaks below this pivot level.

- Morning Star
- Doji
- Bearish Engulfing Reversal
- Bullish Engulfing Reversal
- Outside Bar

### News Context

Zensar Technologies reported Q2FY27 results on 31 October 2026, showing a 4.4% year-on-year increase in net profit to ₹190.2 crore and an 11.5% revenue growth to ₹1,585.2 crore. Following these figures, brokerages issued rating updates on 3 November 2026; Zensar was downgraded to 'Add' with a target price of ₹614, contrasting with upgrades for peers like Delhivery. On 2 November 2026, analysts from HDFC Securities, Tradebulls Securities, and Anand Rathi Share and Stock Brokers cited technical breakouts and accumulation patterns for Zensar within broader market commentary.

- Q2FY27 financials: Net profit rose 4.4% YoY to ₹190.2 crore; revenue grew 11.5% YoY to ₹1,585.2 crore (reported 31 Oct 2026).
- Brokerage action: Downgraded to 'Add' with a ₹614 target following September quarter results (reported 3 Nov 2026).
- Technical outlook: Analysts from HDFC Securities, Tradebulls, and Anand Rathi noted technical breakouts and accumulation patterns (reported 2 Nov 2026).

- [Engineers India, GAIL, Zensar, Motherson Sumi Wiring, Delhivery shares: Target prices](https://www.businesstoday.in/markets/stocks/story/engineers-india-gail-zensar-motherson-sumi-wiring-delhivery-shares-target-prices-565274-2026-11-03)
- [Nifty’s next move hinges on breakout above 23,200: Analysts](https://economictimes.indiatimes.com/markets/stocks/news/nifty-faces-key-23200-hurdle-analysts-remain-cautious/articleshow/135440855.cms)
- [Zensar Technologies: Zensar’s Q2 net profit rises 4%, revenue grows 11% - The Economic Times](https://economictimes.indiatimes.com/tech/artificial-intelligence/zensars-q2-net-profit-rises-4-revenue-grows-11/articleshow/135326789.cms)

### What Changed

Zensar Technologies Limited (NSE: ZENSARTECH) reported a material change in its capital structure on November 5, 2026, following the allotment of equity shares under an Employee Stock Option/Plan Scheme (ESOP). The Nomination and Remuneration Committee approved the issuance of 31,440 fully paid equity shares (₹2/- each) upon the exercise of previously granted options. This transaction increased the company's paid-up share capital from ₹455,486,664 to ₹455,549,544, raising the total number of paid-up shares from 227,743,332 to 227,774,772. The Board acted under authority granted during a prior meeting on January 19, 2016. As of the observation date of November 6, 2026, the stock traded at ₹568.80, reflecting a nominal increase from the previous close of ₹565.75.

- Capital Increase: Paid-up share capital rose by ₹62,880 to ₹455,549,544, with the share count increasing by 31,440 units to 227,774,772.
- Corporate Action: Allotment of 31,440 ESOP shares was approved by the Nomination and Remuneration Committee and filed with the NSE on November 5, 2026.
- Market Price: The stock closed at ₹568.80 on November 6, 2026, up from ₹565.75 in the previous session.

- [Zensar Technologies Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_476_WebXMLFile_20261105_195054436.xml)
- [Zensar Technologies Limited has informed the Exchange about Options to purchase securities |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/ZENSARTECH_05112026195606_Stock_Exchange_Intimation.pdf)

### Official Filings

Zensar Technologies Limited reported its financial results for the quarter ended September 30, 2026 (Q2FY27), on October 28, 2026. The Board approved unaudited standalone and consolidated results, noting a statutory impact from new Labour Codes as an exceptional item, with provisions of ₹235 Million (standalone) and ₹249 Million (consolidated). Additionally, the Board approved the merger of its wholly-owned subsidiary, M3BI India Private Limited, into Zensar, effective April 1, 2027, subject to regulatory approvals. On November 5, 2026, the company allotted 31,440 equity shares upon the exercise of Employee Stock Options, increasing paid-up share capital from ₹455,486,664 to ₹455,549,544.

- Q2FY27 Results: Board approved unaudited results on October 28, 2026; disclosed exceptional provisions of ₹235 Million (standalone) and ₹249 Million (consolidated) due to new Labour Codes.
- Merger Proposal: Board approved amalgamation of wholly-owned subsidiary M3BI India Private Limited into Zensar, effective April 1, 2027, pending NCLT sanction and other approvals.
- ESOP Allotment: Allotted 31,440 fully paid equity shares on November 5, 2026, upon exercise of employee stock options, increasing total paid-up shares to 227,774,772.

- [Zensar Technologies Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_476_WebXMLFile_20261105_195054436.xml)
- [Zensar Technologies Limited has informed the Exchange about Options to purchase securities |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/ZENSARTECH_05112026195606_Stock_Exchange_Intimation.pdf)
- [Zensar Technologies Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ZENSARTECH_04112026184754_SE_intimation_Earning_call_transcript.pdf)
- [Zensar Technologies Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261104_185220915.xml)
- [Zensar Technologies Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ZENSARTECH_30102026161646_SE_Intimation_NP_Financial_Result.pdf)
- [Zensar Technologies Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ZENSARTECH_29102026171303_SE_intimation_Earning_call_Recording.pdf)
- [Zensar Technologies Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261029_172428295.xml)
- [Zensar Technologies Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/ZENSARTECH_28102026221203_BMOutcome28102026signed.pdf)
- [Zensar Technologies Limited has informed the Exchange about Amalgamation/Merger |SUBJECT: Amalgamation/Merger](https://nsearchives.nseindia.com/corporate/ZENSARTECH_28102026222208_SEIntimationMergersigned.pdf)
- [Zensar Technologies Limited has informed the Exchange about Investor Presentation |SUBJECT: Investor Presentation](https://nsearchives.nseindia.com/corporate/ZENSARTECH_28102026223340_SEIntimationPressrelease.pdf)

### Fundamentals

Zensar Technologies demonstrates a strengthening operating trajectory in Q2 FY2026-27, with revenue from operations rising sequentially to ₹1,585 crore and net profit increasing to ₹190 crore. This follows a robust full-year performance where sales grew to ₹5,687 crore and net profit reached ₹775 crore for Mar 2026, supported by a 15% TTM compounded profit growth rate. Earnings quality remains high, evidenced by CFO/EBITDA conversion of 105% in Mar 2026 and strong ROCE of 23%. The balance sheet shows improved liquidity, with cash and equivalents rising to ₹391 crore and bank balances (excluding cash) jumping to ₹667 crore as of Sep 2026. While borrowings have declined steadily to ₹64 crore, working capital efficiency has tightened slightly, with the cash conversion cycle extending to 59 days in Mar 2026. Institutional ownership is shifting, with FIIs reducing their stake to 10.21%, while DIIs increased to 21.71%.

- Q2 FY2026-27 revenue grew to ₹1,585 crore (up from ₹1,508 crore in Q1), with net profit rising to ₹190 crore.
- Full-year Mar 2026 net profit reached ₹775 crore on sales of ₹5,687 crore, reflecting 15% TTM profit growth.
- Liquidity improved significantly: cash and bank balances (excl. cash) rose to ₹1,058 crore combined as of Sep 2026.
- FIIs reduced holdings to 10.21% in Sep 2026, while DIIs increased to 21.71%; next checkpoint is Q3 FY2026-27 results.

### Bull Case

Zensar Technologies presents a conditional upside case anchored by improving operational momentum and technical structure, despite a bearish one-year price trend. In the September quarter (Q2FY27), the company delivered an 11.5% year-on-year revenue growth to ₹1,585.2 crore, accompanied by a 4.4% increase in net profit to ₹190.2 crore. This demonstrates top-line expansion capability within the mid-sized IT services segment.

Technically, the stock exhibits strong bullish signals across multiple timeframes as of November 6, 2026. The daily Supertrend is bullish with a Plus DI (39.79) significantly outweighing the Minus DI (8.83), indicating active buying pressure. Similarly, the weekly and monthly trends show bullish Supertrend directions. Short-term returns are positive, with the stock up +27.7% over the last month and +15.2% over the past 10 days, suggesting recent accumulation. However, this constructive setup exists against a backdrop of significant long-term underperformance, with the stock down -19.1% over the past year and currently trading at a -38.2% drawdown from its peak. The immediate condition for sustaining this momentum is a breakout above the nearest resistance level at ₹573.22.

- Operational Growth: Q2FY27 revenue grew 11.5% YoY to ₹1,585.2 crore, with net profit rising 4.4% to ₹190.2 crore.
- Technical Strength: Daily, weekly, and monthly Supertrends are all bullish; daily Plus DI (39.79) dominates Minus DI (8.83).
- Short-Term Momentum: Stock has gained +27.7% over the last month and +15.2% over the past 10 days, contrasting with a -19.1% annual return.
- Key Resistance: Immediate upside depends on breaking above the first resistance level at ₹573.22, just 0.78% above the current close of ₹568.8.

- [Engineers India, GAIL, Zensar, Motherson Sumi Wiring, Delhivery shares: Target prices](https://www.businesstoday.in/markets/stocks/story/engineers-india-gail-zensar-motherson-sumi-wiring-delhivery-shares-target-prices-565274-2026-11-03)
- [Nifty’s next move hinges on breakout above 23,200: Analysts](https://economictimes.indiatimes.com/markets/stocks/news/nifty-faces-key-23200-hurdle-analysts-remain-cautious/articleshow/135440855.cms)
- [Zensar Technologies: Zensar’s Q2 net profit rises 4%, revenue grows 11% - The Economic Times](https://economictimes.indiatimes.com/tech/artificial-intelligence/zensars-q2-net-profit-rises-4-revenue-grows-11/articleshow/135326789.cms)
- [Zensar Technologies Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_476_WebXMLFile_20261105_195054436.xml)
- [Zensar Technologies Limited has informed the Exchange about Options to purchase securities |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/ZENSARTECH_05112026195606_Stock_Exchange_Intimation.pdf)
- [Zensar Technologies Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ZENSARTECH_04112026184754_SE_intimation_Earning_call_transcript.pdf)
- [Zensar Technologies Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261104_185220915.xml)
- [Zensar Technologies Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ZENSARTECH_30102026161646_SE_Intimation_NP_Financial_Result.pdf)
- [Zensar Technologies Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ZENSARTECH_29102026171303_SE_intimation_Earning_call_Recording.pdf)
- [Zensar Technologies Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261029_172428295.xml)

### Bear Case

Zensar Technologies presents a mixed operational and technical profile as of November 2026. While the company reported solid fundamental growth in the September quarter—with revenue rising 11.5% to ₹1,585.2 crore and net profit increasing 4.4% to ₹190.2 crore—market sentiment has turned cautious. Brokerages have downgraded the stock from previous ratings to 'Add' with a target price of ₹614, signaling limited near-term upside relative to current levels. Technically, the stock is trading at ₹568.8, well below its broker-implied target and facing immediate resistance just 0.78% higher at ₹573.22. The broader trend remains weak, evidenced by a year-to-date decline of -18.9% and a one-year return of -19.1%. Furthermore, the stock is currently in a significant drawdown of -38.2%, having experienced a maximum historical drawdown of -54.1%, indicating substantial volatility and downside risk for investors holding positions.

- Brokerage downgrade: Rating cut to 'Add' with a ₹614 target, implying ~7.4% upside from the current close of ₹568.8.
- Negative long-term returns: Stock is down -19.1% over the past year and -18.9% year-to-date as of November 2026.
- Elevated volatility and drawdown: Current drawdown stands at -38.2% against a maximum historical drawdown of -54.1%, with annualized volatility at +39.6%.
- Immediate technical resistance: Price faces tight resistance at ₹573.22 (0.78% above), limiting short-term breakout potential despite bullish supertrend signals.

- [Engineers India, GAIL, Zensar, Motherson Sumi Wiring, Delhivery shares: Target prices](https://www.businesstoday.in/markets/stocks/story/engineers-india-gail-zensar-motherson-sumi-wiring-delhivery-shares-target-prices-565274-2026-11-03)
- [Nifty’s next move hinges on breakout above 23,200: Analysts](https://economictimes.indiatimes.com/markets/stocks/news/nifty-faces-key-23200-hurdle-analysts-remain-cautious/articleshow/135440855.cms)
- [Zensar Technologies: Zensar’s Q2 net profit rises 4%, revenue grows 11% - The Economic Times](https://economictimes.indiatimes.com/tech/artificial-intelligence/zensars-q2-net-profit-rises-4-revenue-grows-11/articleshow/135326789.cms)
- [Zensar Technologies Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_476_WebXMLFile_20261105_195054436.xml)
- [Zensar Technologies Limited has informed the Exchange about Options to purchase securities |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/ZENSARTECH_05112026195606_Stock_Exchange_Intimation.pdf)
- [Zensar Technologies Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ZENSARTECH_04112026184754_SE_intimation_Earning_call_transcript.pdf)
- [Zensar Technologies Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261104_185220915.xml)
- [Zensar Technologies Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ZENSARTECH_30102026161646_SE_Intimation_NP_Financial_Result.pdf)
- [Zensar Technologies Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ZENSARTECH_29102026171303_SE_intimation_Earning_call_Recording.pdf)
- [Zensar Technologies Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261029_172428295.xml)

### FAQs

**How did Zensar Technologies perform financially in the September quarter (Q2FY27)?**

For the quarter ended September 30, 2026, Zensar reported a 4.4% year-on-year increase in net profit to ₹190.2 crore and an 11.5% year-on-year revenue growth to ₹1,585.2 crore.

**What is the current technical trend for Zensar's stock price?**

As of November 6, 2026, the daily technical indicators show a bullish Supertrend direction with strong momentum (ADX 14 at 44.7). The stock closed at ₹568.80, trading between a high of ₹582.0 and a low of ₹561.9.

**What recent corporate actions have affected Zensar's share capital?**

On November 5, 2026, Zensar allotted 31,440 fully paid equity shares to employees upon the exercise of Employee Stock Options (ESOPs). This increased the paid-up share capital from ₹455,486,664 to ₹455,549,544.

**How has Zensar's stock performed over different time horizons?**

Over the past month, the stock returned +27.7%, while it gained +15.2% over the last 10 days. However, it remains down -19.1% over the past year and -18.9% year-to-date as of November 6, 2026.

- [Engineers India, GAIL, Zensar, Motherson Sumi Wiring, Delhivery shares: Target prices](https://www.businesstoday.in/markets/stocks/story/engineers-india-gail-zensar-motherson-sumi-wiring-delhivery-shares-target-prices-565274-2026-11-03)
- [Nifty’s next move hinges on breakout above 23,200: Analysts](https://economictimes.indiatimes.com/markets/stocks/news/nifty-faces-key-23200-hurdle-analysts-remain-cautious/articleshow/135440855.cms)
- [Zensar Technologies: Zensar’s Q2 net profit rises 4%, revenue grows 11% - The Economic Times](https://economictimes.indiatimes.com/tech/artificial-intelligence/zensars-q2-net-profit-rises-4-revenue-grows-11/articleshow/135326789.cms)
- [Zensar Technologies Limited has informed the Exchange regarding Allotment of Securities |SUBJECT: Alteration Of Capital and Fund Raising-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_476_WebXMLFile_20261105_195054436.xml)
- [Zensar Technologies Limited has informed the Exchange about Options to purchase securities |SUBJECT: Options to purchase securities](https://nsearchives.nseindia.com/corporate/ZENSARTECH_05112026195606_Stock_Exchange_Intimation.pdf)
- [Zensar Technologies Limited has informed the Exchange about Transcript |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ZENSARTECH_04112026184754_SE_intimation_Earning_call_transcript.pdf)
- [Zensar Technologies Limited has informed the Exchange about Transcripts - earnings or quarterly calls |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261104_185220915.xml)
- [Zensar Technologies Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/ZENSARTECH_30102026161646_SE_Intimation_NP_Financial_Result.pdf)
- [Zensar Technologies Limited has informed the Exchange about Link of Recording |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/ZENSARTECH_29102026171303_SE_intimation_Earning_call_Recording.pdf)
- [Zensar Technologies Limited has informed the Exchange about Audio Recording/Video Recording |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261029_172428295.xml)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Moderate Uptrend
- Weekly trend: Weak Uptrend
- Pivot point: ₹557.95
- Risk regime: Higher Price Risk

### Support levels
- 556.2
- 537.809375
- 509.23125000000005

### Resistance levels
- 573.2249999999999
- 583
- 611

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.54% |
| return_10 | +15.21% |
| return_1m | +27.69% |
| return_1y | -19.14% |
| return_20 | +28.75% |
| return_3m | +13.61% |
| return_5 | +6.22% |
| return_6m | +8.34% |
| return_since_start | -23.89% |
| return_ytd | -18.88% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -54.13% |
| annualized_volatility | +39.64% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Zensar Technologies Limited FY2026-27 Q2: Revenue reaches five-quarter high

Zensar Technologies reported consolidated revenue from operations of ₹1,585.2 crore for the quarter ended 30 September 2026, up 5.1% sequentially and 11.5% year on year. Profit for the period rose 3.5% from the June quarter to ₹190.2 crore. Revenue has increased in each of the past five quarters, while sequential expense growth was slightly below revenue growth.

## Revenue and expenses

Revenue from operations rose from ₹1,508.3 crore in FY2026-27 Q1 and ₹1,421.3 crore in FY2025-26 Q2 to ₹1,585.2 crore in FY2026-27 Q2. The latest quarter was the highest in the five-quarter series, which began at ₹1,421.3 crore in FY2025-26 Q2.

Other income was ₹42.3 crore, taking total income to ₹1,627.5 crore, up 4.0% from ₹1,565.6 crore in FY2026-27 Q1. Total expenses increased 4.3% sequentially to ₹1,375.6 crore from ₹1,319.4 crore. They were ₹1,230.2 crore in FY2025-26 Q2, an 11.8% year-on-year increase.

Profit before tax rose 2.3% sequentially to ₹251.9 crore from ₹246.2 crore in FY2026-27 Q1. It was up 4.9% from ₹240.2 crore in FY2025-26 Q2, below the year-on-year growth rate in revenue.

## Profit, tax and earnings per share

Profit for the period from continuing operations was ₹190.2 crore, compared with ₹183.8 crore in FY2026-27 Q1 and ₹182.2 crore in FY2025-26 Q2. Basic earnings per share increased to ₹8.33 from ₹8.11 sequentially and ₹8.02 a year earlier. Diluted earnings per share was ₹8.28, versus ₹7.99 in FY2026-27 Q1 and ₹7.93 in FY2025-26 Q2.

Tax expense was ₹61.7 crore, compared with ₹62.4 crore in FY2026-27 Q1. Current tax declined to ₹53.4 crore from ₹65.4 crore, while deferred tax was an expense of ₹8.3 crore, compared with a ₹3 crore credit in the preceding quarter.

## Balance sheet and liquidity

At 30 September 2026, cash and cash equivalents were ₹390.5 crore, bank balances other than cash were ₹667 crore, and current investments were ₹1,607.3 crore. Together, these balances totalled ₹2,664.8 crore. At 31 March 2026, the corresponding balances were ₹416.3 crore, ₹515.2 crore and ₹1,659.4 crore.

Trade receivables stood at ₹800.4 crore at 30 September 2026, down from ₹924.2 crore at 31 March 2026 and close to ₹797.8 crore at 30 September 2025. Trade payables were ₹452.4 crore, compared with ₹367.4 crore at 31 March 2026 and ₹359.7 crore at 30 September 2025.

Equity attributable to owners of the parent was ₹4,869.7 crore, up from ₹4,719.1 crore at 31 March 2026 and ₹4,279 crore at 30 September 2025. Total assets were ₹6,135.3 crore, including goodwill of ₹1,013.4 crore.

## Key Takeaway

Revenue reached a five-quarter high, with sequential growth slightly outpacing expense growth. Profit and earnings per share improved from both the preceding and year-earlier quarters, while year-on-year profit-before-tax growth remained below revenue growth.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +48.99%
- FII holding: +10.73%
- DII holding: +21.98%
- Mutual fund holding: +19.54%
- Retail holding: +13.71%
- Promoter pledged: +0.00%

### Major reported shareholders

- SWALLOW ASSOCIATES LLP — +26.63% (Bodies Corporate)
- SUMMIT SECURITIES LIMITED — +11.00% (Bodies Corporate)
- HDFC MUTUAL FUND - HDFC NIFTY INDIA DIGITAL INDEX — +8.81%
- INSTANT HOLDINGS LIMITED — +8.43% (Bodies Corporate)
- FRANKLIN INDIA OPPORTUNITES FUND — +2.85%
- SOFREAL MERCANTRADE PVT LTD — +2.64% (Bodies Corporate)
- ICICI PRUDENTIAL CONGLOMERATE FUND — +2.07%
- NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA SMA — +1.62%
- INVESCO INDIA AGGRESSIVE HYBRID FUND — +1.39%
- CHATTARPATI APARTMENTS LLP — +0.10% (Bodies Corporate)

## Official filings

- 2026-11-05 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/ALTERATION_OF_CAPITAL_AND_FUND_RAISING_476_WebXMLFile_20261105_195054436.xml)
- 2026-11-05 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_05112026195606_Stock_Exchange_Intimation.pdf)
- 2026-11-04 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_04112026184754_SE_intimation_Earning_call_transcript.pdf)
- 2026-11-04 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261104_185220915.xml)
- 2026-10-30 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_30102026161646_SE_Intimation_NP_Financial_Result.pdf)
- 2026-10-29 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_29102026171303_SE_intimation_Earning_call_Recording.pdf)
- 2026-10-29 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261029_172428295.xml)
- 2026-10-28 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_28102026221203_BMOutcome28102026signed.pdf)
- 2026-10-28 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_28102026222208_SEIntimationMergersigned.pdf)
- 2026-10-28 — Earnings Presentation: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_28102026223340_SEIntimationPressrelease.pdf)
- 2026-10-28 — Press Release: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_28102026222928_SEIntimationPressrelease.pdf)
- 2026-10-28 — Financial Results Filing: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748363_28102026104112_WEB.xml)
- 2026-10-28 — Financial Results Filing: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748365_28102026104157_WEB.xml)
- 2026-10-28 — Financial Results Filing: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748374_28102026105523_WEB.xml)
- 2026-10-28 — Financial Results Filing: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1748373_28102026105517_WEB.xml)
- 2026-10-21 — Shareholding Disclosure: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1742890_21102026034402_WEB.xml)
- 2026-10-19 — Credit Rating Update: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_19102026192404_SE_Intimation_NSE_ESG_Rating.pdf)
- 2026-10-14 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_14102026162534_SEIntimationEarningCall.pdf)
- 2026-10-14 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_476_WebXMLFile_20261014_165217460.xml)
- 2026-10-10 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_10102026155751_SEintimationnewspaperad.pdf)
- 2026-10-08 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_08102026161946_SE_Intimation_74_5_.pdf)
- 2026-10-07 — Board Meeting Notice: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_07102026161145_SE_Intimation_Board_Meeting.pdf)
- 2026-10-07 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/ZENSARTECH_07102026162758_Stock_Exchange_Intimation.pdf)
- 2026-10-07 — Generic Announcement: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_476_WebXMLFile_20261007_162017974.xml)
- 2026-10-07 — Board Meeting Notice: Zensar Technologies Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/PRIOR_INTIMATION_476_WebXMLFile_20261007_162017974.xml)

## News and market events

- 2026-11-07 — Mint: **Diwali 2026 Muhurat Trading Stocks: HDFC Sec lists BPCL, HCL Tech, Zensar, and more to buy for Nov 8- targets, stop loss** — HDFC Securities has released a technical stock report for Diwali 2026 Muhurat Trading, identifying six picks across the oil and gas, IT, financial services, steel, and credit sectors. The brokerage forecasts potential upside of 19% to 28% for BPCL, HCL Technologies, IIFL Finance, JSW Steel, Satin Creditcare, and Zensar Technologies by the next Diwali, providing specific entry ranges, price targets, and stop-loss levels. HDFC Securities cautioned that these recommendations should not be the sole basis for investment decisions. — [Source](https://www.livemint.com/market/stock-market-news/diwali-2026-muhurat-trading-stocks-hdfc-sec-lists-bpcl-hcl-tech-zensar-and-more-to-buy-for-nov-8-targets-stop-loss-11794042906368.html)
- 2026-11-03 — BUSINESSTODAY: **Engineers India, GAIL, Zensar, Motherson Sumi Wiring, Delhivery shares: Target prices** — Brokerages have issued rating updates for a dozen stocks, including Engineers India, GAIL, Zensar Technologies, Motherson Sumi Wiring, and Delhivery, following September quarter results. Analysts have upgraded Delhivery to 'Buy' with a target price of Rs 490 and Engineers India to 'Accumulate' at Rs 338, while downgrading Zensar Technologies to 'Add' with a target of Rs 614. — [Source](https://www.businesstoday.in/markets/stocks/story/engineers-india-gail-zensar-motherson-sumi-wiring-delhivery-shares-target-prices-565274-2026-11-03)
- 2026-11-02 — Economic Times: **Nifty’s next move hinges on breakout above 23,200: Analysts** — Analysts from HDFC Securities, Tradebulls Securities, and Anand Rathi Share and Stock Brokers have issued recommendations for specific equities including DLF, Zensar Technologies, Coforge, BSE, and ITC, citing technical breakouts and accumulation patterns, while advising a sell position for Radico due to negative momentum signals. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/nifty-faces-key-23200-hurdle-analysts-remain-cautious/articleshow/135440855.cms)
- 2026-10-31 — Economic Times: **Zensar Technologies: Zensar’s Q2 net profit rises 4%, revenue grows 11% - The Economic Times** — Mid-sized IT services firm Zensar Technologies reported a 4.4% year-on-year increase in Q2FY27 net profit to Rs 190.2 crore, alongside an 11.5% year-on-year revenue growth to Rs 1,585.2 crore. — [Source](https://economictimes.indiatimes.com/tech/artificial-intelligence/zensars-q2-net-profit-rises-4-revenue-grows-11/articleshow/135326789.cms)
- 2026-10-30 — Times of India: **Zensar Q2 revenue rises 2%; AI-led deals account for 36% of order book** — Zensar Technologies reported a 2% year-on-year revenue increase in constant currency terms for the September quarter, with AI-led deals accounting for 36% of its order book. The company's EBIT margin dipped to 13.4%, down 30 basis points year-on-year, while headcount increased to 12,320. — [Source](https://timesofindia.indiatimes.com/business/india-business/zensar-q2-revenue-rises-2-ai-led-deals-account-for-36-of-order-book/articleshow/135370266.cms)
- 2026-10-29 — BUSINESSTODAY: **Zensar Technologies shares rise 8% on Q2 earnings, brokerages share price targets** — Zensar Technologies Ltd shares rose approximately 8% following the release of Q2FY27 earnings that beat estimates, prompting Nuvama to maintain a 'HOLD' call with a revised target price of Rs 520 and Choice Broking to cut its rating to 'Add' from 'Buy' with a target of Rs 615. — [Source](https://www.businesstoday.in/markets/stocks/story/zensar-technologies-shares-rise-on-q2-earnings-brokerages-share-price-targets-564548-2026-10-29)
- 2026-10-29 — Mint: **Zensar Technologies shares on a roll! IT stock jumps 8%, up 25% in month - What's fuelling the rally?** — Zensar Technologies Limited reported Q2FY27 results showing a 4.1% annual revenue growth and an EBITDA margin expansion of 120 basis points, which contributed to an 8.17% share price increase on October 29. — [Source](https://www.livemint.com/market/stock-market-news/zensar-technologies-shares-on-a-roll-it-stock-jumps-8-up-25-in-month-whats-fuelling-the-rally-11793265934817.html)
- 2026-09-17 — BUSINESS: **eMudhra Ltd Falls 3.93%** — eMudhra Ltd has added 10.23% over last one month compared to 4.57% fall in BSE Information Technology index and 3.95% drop in the SENSEX — [Source](https://www.business-standard.com/markets/capital-market-news/emudhra-ltd-falls-3-93-126091700260_1.html)
- 2026-09-17 — BUSINESSTODAY: **TCS, Infosys, Tech Mahindra, HCL Tech: IT shares top losers amid market rally today, here's why** — IT firms, Infosys, HCL Tech, Coforge, Tech Mahindra, Wipro stock , Wipro, Persistent Systems, Tata Elxsi, Tata Consultancy Services Ltd , Zensar Technologies, IT stocks, IT stocks fall, Nifty IT index,  BSE IT index, Indian stock market,  artificial intelligence — [Source](https://www.businesstoday.in/markets/stocks/story/tcs-infosys-tech-mahindra-hcl-tech-it-shares-top-losers-amid-market-rally-today-heres-why-556034-2026-09-17)
- 2026-09-15 — Economic Times: **Ahead of Market: 10 things that will decide stock market action on Wednesday** — Indian markets reversed morning gains to plunge over 1% on Tuesday as surging oil prices, rising bond yields, global uncertainty and foreign outflows pressured sentiment. Nifty breached 23,231 support, while 2,824 NSE stocks declined, signalling strong bearish market breadth. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ahead-of-market-10-things-that-will-decide-stock-market-action-on-wednesday/articleshow/134268234.cms)
- 2026-09-15 — Mint: **Zensar Technologies share price jumps over 13% amid stock market rally. Do you own?** — Zensar Technologies share price opened at  ₹430 apiece today, as compared to previous close of  ₹425.25 on Friday last week. The IT stock surged as much as 13%, hitting an intraday high of  ₹479.90 on 15 September. — [Source](https://www.livemint.com/market/stock-market-news/zensar-technologies-share-price-jumps-over-13-amid-stock-market-rally-do-you-own-11789452727664.html)
- 2026-09-15 — BUSINESS: **Volumes soar at Zensar Technologies Ltd counter** — Zensar Technologies Ltd clocked volume of 15.01 lakh shares by 10:45 IST on BSE, a 30.22 times surge over two-week average daily volume of 49666 shares — [Source](https://www.business-standard.com/markets/capital-market-news/volumes-soar-at-zensar-technologies-ltd-counter-126091500281_1.html)
- 2026-09-10 — BUSINESSTODAY: **Coforge, Persistent, Tech Mahindra: Choice shares top IT picks; check targets** — Coforge, Persistent Systems, Tech Mahindra, Choice Institutional Equities, IT stocks, Indian IT sector, BFSI, artificial intelligence, AI spending, technology spending, stock market, TCS, Infosys, Wipro, HCLTech, LTIMindtree, Mphasis, Zensar Technologies, Happiest Minds — [Source](https://www.businesstoday.in/markets/stocks/story/coforge-persistent-tech-mahindra-choice-shares-top-it-picks-check-targets-554456-2026-09-10)
- 2026-08-14 — The Hindu: **Sensex today | Stock Market Live: Sensex below 77,900, Nifty near 24,350 as West Asia tensions persist** — Sensex, Nifty, Share Prices LIVE:  Indian equities remained subdued in noon trade on Friday, with persistent West Asia tensions and continued foreign selling weighing on sentiment. Easing expectations of a September US Fed rate hike and softer crude prices offered limited support, restricting the market’s decline. — [Source](https://www.thehindubusinessline.com/markets/sensex-nifty50-today-stock-market-live-updates-14th-august-2026/article71341547.ece)
- 2026-07-22 — The Hindu: **Impetus Appoints Samir Gosavi as Chief Revenue Officer to Accelerate Global Growth** — Impetus Appoints Samir Gosavi as Chief Revenue Officer to Accelerate Global Growth — [Source](https://www.thehindu.com/brandhub/pr-release/impetus-appoints-samir-gosavi-as-chief-revenue-officer-to-accelerate-global-growth/article71253305.ece)
- 2026-07-21 — Mint: **Top Gainers & Losers on July 21: Karur Vysya Bank, TVS Motor, Zen Tech, Meesho, Thermax among top gainers today | Stock Market News** — The Indian stock market remained range-bound due to fragile investor sentiment amid West Asian tensions. Despite modest losses in benchmark indices, broader markets performed well, supported by select sectors. — [Source](https://www.livemint.com/market/stock-market-news/top-gainers-losers-on-july-21-karur-vysya-bank-tvs-motor-zen-tech-meesho-thermax-among-top-gainers-today-11784625895681.html)

## Business profile

**Strategic vision:** Global digital solutions and technology services company.

### Business segments
- **Application Services:** Comprehensive services for the entire application lifecycle, aiming to enhance performance, user experience, and enterprise integration.
- **Artificial Intelligence:** Develops and implements AI solutions designed to convert data into actionable insights, facilitating smarter decision-making and improved efficiency.
- **Cloud, Infrastructure, and Security:** Provides consulting and management services related to cloud, core, and edge infrastructure, focusing on securing and connecting ecosystems.
- **Data Engineering and Analytics:** Encompasses end-to-end data and AI solutions, translating complex data into clear insights, intelligence, and innovation.
- **Marketing and Engagement:** Offers storytelling-led experiences that integrate strategy, design, and media to connect with audiences at critical touchpoints.
- **Product and Platforms:** Services support the full product and brand transformation lifecycle, from early-stage innovation to migrations to next-generation platforms.

### Competitive strengths
- Global presence across India, the Americas, Europe, and Africa.
- Subsidiary of the RPG Group.

## Related stocks

- [Affle 3i Limited (IT)](https://faxioms.com/stocks/affle) — -2.11%
- [BLS International Services Limited (IT)](https://faxioms.com/stocks/bls) — -1.00%
- [BIRLASOFT LIMITED (IT)](https://faxioms.com/stocks/bsoft) — +1.88%
- [Cartrade Tech Limited (IT)](https://faxioms.com/stocks/cartrade) — +3.77%
- [Cyient Limited (IT)](https://faxioms.com/stocks/cyient) — -1.63%

## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/zensartech
Markdown representation: https://faxioms.com/stocks/zensartech?render=md