Company Profile

Zensar Technologies has reported results for second quarter ended September 30, 2020.

The company has reported 1.17% marginal fall in its net profit of Rs 63.54 crore for the quarter under review as against net profit of Rs 64.29 crore for the same quarter in the previous year. Total income of the company decreased 10.15% at Rs 342.30 crore for Q2FY21 as compared Rs 380.98 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported 99.37% fall in its net profit attributable to owners at Rs 0.50 crore for the quarter under review as against net profit of Rs 79.87 crore for the same quarter in the previous year. Total income of the company decreased by 10.53% at Rs 975.53 crore for Q2FY21 as compared Rs 1090.36 crore for the corresponding quarter previous year.

Zensar Technologies has entered into an agreement with Service Express LLC to divest its global Third Party Maintenance (TPM) business. This is in line with the company's commitment to focus on and invest in its core businesses which comprised 96 % of its revenues as on Q1FY21.

As part of its long-term strategy, Zensar had identified two non-core businesses, comprising Rest of the World (RoW) business and the TPM business. It had divested the RoW business last year and is now divesting the TPM business. Under the terms of the transaction, Zensar’s TPM business will be transferred to Service Express, a leading TPM service provider headquartered in the US, by way of a 100% share sale of Zensar’s equity shareholding in PSI Holding Group Inc., a wholly owned subsidiary of Zensar Technologies Inc. The closing of the transaction is subject to approval by shareholders of Zensar Technologies.

Zensar Technologies, formerly known as ICIL was acquired by the RPG group in 1989. It is a globally focused software and services company spread across eighteen countries across the world.

Wipro has won an Application Management (AMS) and Services Integration & Management (SIAM) contract from Fortum, one of the leading clean-energy companies headquartered in Espoo, Finland. As a part of the five-year agreement, the company will manage Fortum’s application portfolio across hundreds of applications for more than 11,500 users across 18 countries and provide 24/7 support for business-critical applications. It will leverage its Artificial Intelligence and automation platform, Wipro HOLMES to enable process automation for enhanced end-user experience.

Hero MotoCorp has launched a new edition of the iconic Splendor motorcycle – the Splendor plus Black and Accent. A first-of-its-kind initiative in the motorcycle category, the Splendor plus Black and Accent can be customized with the graphics of customer’s choice at the time of purchase. The unique concept is a result of the company’s innovative ‘Hero CoLabs’ contest.  As part of the contest, participants from across the country created graphic design themes for the Splendor plus motorcycle.

Zensar Technologies has entered into an agreement with Service Express LLC to divest its global Third Party Maintenance (TPM) business. This is in line with Zensar’s commitment to focus on and invest in its core businesses which comprised 96 % of its revenues as on Q1FY21. As part of its long-term strategy, Zensar had identified two non-core businesses, comprising Rest of the World (RoW) business and the TPM business. Zensar had divested the RoW business last year and is now divesting the TPM business.

Sunteck Realty has entered into an agreement to acquire around 50-acre land parcel in Vasind, Thane district, Maharashtra. The project will offer approximately 2.6 million square feet. Envisaged as a one of the large residential development under ‘Sunteck World’ brand in Thane District, the project will have a revenue potential of Rs 1,250 crore (Rs 12.5 Billion) spanning over next 4-5 years. The company’s Vasind acquisition reflects its differentiated development philosophy of focusing on strategic locations along the growth vector.

Tata-SIA joint venture airline Vistara has entered into partnership with the Indian Hotels Company (IHCL) for its loyalty program Club Vistara (CV). Under the tie-up, which is effective from October 19, Club Vistara members can earn three CV Points for every Rs 100 eligible spends on a stay at Taj, selections, Vivanta Hotels, and ama Stays & Trails. The airline has also rolled out an introductory offer, in which CV members can earn 2x CV Points (six CV Points) on eligible spends at IHCL hotels until November 2020 (inclusive of the booking and stay dates).

Avenue Supermarts, which owns and operates supermarket chain DMart, has closed two of its retail stores in Mumbai and converted them into fulfilment centres to cater to its growing e-commerce business in the city. The company opened six new DMart stores during the July-September quarter this fiscal taking its store count to 220 with total retail business area of 8.20 million sq. ft. Besides, D-Mart has also expanded its e-commerce operations in select pin codes of Pune City.

Tata Steel has enabled the construction of a 2.6-km long six-lane Kanaka Durga flyover in Vijayawada, Andhra Pradesh, the longest in the State. The Company has supplied around 80% of the steel used in the project including 2,000 metric tonnes of Low Relaxation Pre-Stressed Concrete (LRPC) Strands and 10,000 metric tonnes of TMT (thermo-mechanically-treated bars). The strength of the steel proved to be a major enabler in increasing the span between the pillars to 45 metres, nearly double the generally accepted standard of 25 metres.

Zensar Technologies is currently trading at Rs. 188.40, up by 3.00 points or 1.62% from its previous closing of Rs. 185.40 on the BSE.

The scrip opened at Rs. 186.40 and has touched a high and low of Rs. 188.50 and Rs. 185.70 respectively. So far 2062 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 211.90 on 24-Sep-2020 and a 52 week low of Rs. 63.70 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 196.00 and Rs. 177.60 respectively. The current market cap of the company is Rs. 4179.99 crore.

The promoters holding in the company stood at 49.23%, while Institutions and Non-Institutions held 40.54% and 10.23% respectively.

Zensar Technologies has entered into an agreement with Service Express LLC to divest its global Third Party Maintenance (TPM) business. This is in line with the company's commitment to focus on and invest in its core businesses which comprised 96 % of its revenues as on Q1FY21.

As part of its long-term strategy, Zensar had identified two non-core businesses, comprising Rest of the World (RoW) business and the TPM business. It had divested the RoW business last year and is now divesting the TPM business. Under the terms of the transaction, Zensar’s TPM business will be transferred to Service Express, a leading TPM service provider headquartered in the US, by way of a 100% share sale of Zensar’s equity shareholding in PSI Holding Group Inc., a wholly owned subsidiary of Zensar Technologies Inc. The closing of the transaction is subject to approval by shareholders of Zensar Technologies.

Zensar Technologies, formerly known as ICIL was acquired by the RPG group in 1989. It is a globally focused software and services company spread across eighteen countries across the world.