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Zensar Technologies Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹475.09Overvalued by 11.36%vs CMP ₹536.00

P/E (15.4) × ROE (18.1%) × BV (₹208.00) × DY (2.43%)

₹388.82Overvalued by 27.46%vs CMP ₹536.00
MoS: -37.9% (Negative)Confidence: 58/100 (Moderate)Models: 2 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹532.6122%Fair (-0.6%)
Graham NumberEarnings₹390.4816%Over (-27.1%)
Earnings PowerEarnings₹214.2811%Over (-60%)
DCFCash Flow₹583.0013%Fair (+8.8%)
Net Asset ValueAssets₹188.197%Over (-64.9%)
EV/EBITDAEnterprise₹318.139%Over (-40.6%)
Earnings YieldEarnings₹325.807%Over (-39.2%)
ROCE CapitalReturns₹320.149%Over (-40.3%)
Revenue MultipleRevenue₹232.215%Over (-56.7%)
Consensus (9 models)₹388.82100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 12.1%

*Investments are subject to market risks

Analyst Summary

Zensar Technologies Ltd operates in the IT Consulting & Software segment, NSE: ZENSARTECH | BSE: 504067, current market price is ₹536.00, market cap is 12,190 Cr.. At a glance, stock P/E is 15.4, ROE is 18.1 %, ROCE is 23.5 %, book value is 208, dividend yield is 2.43 %. The latest intrinsic value estimate is ₹388.82, around 27.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹5,281 Cr versus the prior period change of 7.7%, while latest net profit is about ₹650 Cr with a prior-period change of -2.3%. The 52-week range shown on this page is 895/511, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisZensar Technologies Ltd. is a Public Limited Listed company incorporated on 29/03/1963 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN)…

This summary is generated from the stock page data available for Zensar Technologies Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

71
Zensar Technologies Ltd scores 71/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 23.5% ExcellentROE 18.1% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -3.18% (6mo) SellingDII holding up 3.23% MF buyingPromoter holding at 49.0% Stable
Earnings Quality65/100 · Strong
OPM expanding (13% → 17%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): +9% YoY GrowingProfit (4Q): +14% YoY Positive
Industry Rank60/100 · Moderate
P/E 15.4 vs industry 49.5 Cheaper than peersROCE 23.5% vs industry 20.5% Average3Y sales CAGR: 8% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 26, 2026, 12:38 am

Market Cap 12,190 Cr.
Current Price 536
Intrinsic Value₹388.82
High / Low 895/511
Stock P/E15.4
Book Value 208
Dividend Yield2.43 %
ROCE23.5 %
ROE18.1 %
Face Value 2.00
PEG Ratio1.27

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Zensar Technologies Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Zensar Technologies Ltd 12,190 Cr. 536 895/51115.4 2082.43 %23.5 %18.1 % 2.00
Sonata Software Ltd 7,206 Cr. 257 464/20715.6 63.21.71 %29.1 %27.3 % 1.00
Newgen Software Technologies Ltd 6,586 Cr. 463 1,379/40121.5 1031.08 %27.8 %22.4 % 10.0
Datamatics Global Services Ltd 4,181 Cr. 707 1,120/53719.2 2460.71 %15.0 %12.5 % 5.00
Moschip Technologies Ltd 3,798 Cr. 196 288/14592.4 19.10.00 %11.9 %11.2 % 2.00
Industry Average90,349.38 Cr664.5149.48160.570.95%20.48%18.57%7.00

All Competitor Stocks of Zensar Technologies Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,1981,2131,2271,2411,2041,2301,2881,3081,3261,3591,3851,4211,431
Expenses 1,0631,0379971,0109961,0271,0921,1071,1191,1461,1741,2011,181
Operating Profit 135176230231208203196201207212211220250
OPM % 11%14%19%19%17%17%15%15%16%16%15%15%17%
Other Income 26272836425242413146574938
Interest 8666634445442
Depreciation 50354237312425302424232520
Profit before tax 104162210225212229210208210230241240265
Tax % 26%26%26%23%24%24%25%25%24%23%24%24%25%
Net Profit 76119156174162173158156160176182182200
EPS in Rs 3.385.276.907.687.147.656.976.867.047.778.018.018.79

Last Updated: February 3, 2026, 1:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 12:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2,3352,6562,9523,0563,1083,9664,1823,7814,2444,8484,9025,2815,596
Expenses 1,9772,2642,5132,6742,7433,4873,6893,0973,5874,2964,0304,4644,703
Operating Profit 358392439382365479493685656552872817893
OPM % 15%15%15%12%12%12%12%18%15%11%18%15%16%
Other Income 30275424749388-24138103159160190
Interest 1011119233761543528211714
Depreciation 38426549658915917518518313410292
Profit before tax 340366417349352445362433574444876858976
Tax % 30%28%30%32%30%28%25%29%27%26%24%24%
Net Profit 238265292238246319272307422328665650740
EPS in Rs 10.8611.9412.9710.4710.7413.9311.6913.3018.4014.4729.3428.6132.58
Dividend Payout % 18%18%18%23%22%20%24%27%27%35%31%45%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)11.34%10.19%-18.49%3.36%29.67%-14.73%12.87%37.46%-22.27%102.74%-2.26%
Change in YoY Net Profit Growth (%)0.00%-1.16%-28.68%21.85%26.31%-44.41%27.60%24.59%-59.73%125.02%-105.00%

Zensar Technologies Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:5%
3 Years:8%
TTM:8%
Compounded Profit Growth
10 Years:9%
5 Years:20%
3 Years:15%
TTM:1%
Stock Price CAGR
10 Years:17%
5 Years:35%
3 Years:50%
1 Year:-2%
Return on Equity
10 Years:16%
5 Years:16%
3 Years:16%
Last Year:16%

Last Updated: September 5, 2025, 1:56 pm

Balance Sheet

Last Updated: December 10, 2025, 3:40 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 44444545454545454545454546
Reserves 9021,1131,2201,4271,6241,8972,0452,2972,6422,9313,5174,0244,234
Borrowings 1701761491349300332350335273186125117
Other Liabilities 3704024555006188471,1747428178728999781,016
Total Liabilities 1,4861,7341,8692,1062,2963,0903,5963,4333,8404,1214,6485,1735,412
Fixed Assets 4225473864475929501,3231,1331,2541,1741,0341,1701,184
CWIP 212361211010516
Investments 149941342432751152785173248991,4081,7141,594
Other Assets 9141,0921,3471,4131,4242,0131,9831,7832,2602,0492,2002,2882,628
Total Assets 1,4861,7341,8692,1062,2963,0903,5963,4333,8404,1214,6485,1735,412

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 321255304206156686858336714642565771
Cash from Investing Activity + -182-41-204-142-229-315-5303-527-476-473-241
Cash from Financing Activity + -87-129-50-204201-197-467-183-219-197-264-401
Net Cash Flow 518550-140128175-139156-31-31-172129
Free Cash Flow 283212269154104608819279681627530719
CFO/OP 107%82%107%85%61%158%146%74%146%100%96%105%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow188.00216.00290.00248.00356.00179.00161.00335.00321.00279.00686.00692.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 566267647581585769555555
Inventory Days 272266304
Days Payable 300283400
Cash Conversion Cycle 2845-29647581585769555555
Working Capital Days 444156497057201936212730
ROCE %34%30%31%24%23%23%17%21%21%15%25%21%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 49.21%49.21%49.20%49.20%49.18%49.17%49.14%49.10%49.07%49.06%49.03%49.01%
FIIs 10.53%12.59%16.66%17.12%16.53%15.74%14.84%15.06%14.98%14.56%13.30%11.80%
DIIs 15.77%17.30%16.55%16.45%17.53%19.04%19.05%19.83%19.89%20.52%22.24%23.12%
Public 24.48%20.89%17.59%17.23%16.77%16.06%16.98%16.01%16.06%15.85%15.43%15.71%
Others 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.34%
No. of Shareholders 2,11,7541,97,8262,17,6992,25,6572,16,9352,01,7772,17,2182,03,5922,25,5022,10,0632,01,8722,04,025

Shareholding Pattern Chart

No. of Shareholders

Zensar Technologies Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund 8,314,820 1.25 469.587,224,5312026-03-24 01:04:3115.09%
HDFC Hybrid Equity Fund 5,578,744 1.32 315.06N/AN/AN/A
Franklin India Small Cap Fund 3,640,478 1.59 205.63,374,5812026-01-26 00:06:157.88%
Nippon India Small Cap Fund 2,496,604 0.21 1414,039,1762025-05-25 10:25:42-38.19%
ICICI Prudential Technology Fund 1,982,028 0.82 111.941,539,9422026-02-23 04:07:2928.71%
HSBC Value Fund 1,772,414 0.68 100.12,406,0692026-02-23 04:07:29-26.34%
Invesco India Smallcap Fund 1,672,012 0.97 94.43N/AN/AN/A
Tata Digital India Fund 1,601,303 0.91 90.431,965,1232025-05-25 10:25:42-18.51%
HDFC Childrens Fund 1,521,492 0.83 85.93N/AN/AN/A
HDFC Multi Cap Fund 1,480,110 0.43 83.591,442,5632026-01-26 00:06:152.6%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 28.6529.3614.4718.4313.31
Diluted EPS (Rs.) 28.4329.1314.4018.2713.18
Cash EPS (Rs.) 33.1135.2722.5426.8421.35
Book Value[Excl.RevalReserv]/Share (Rs.) 179.28157.26131.40118.89105.10
Book Value[Incl.RevalReserv]/Share (Rs.) 179.28157.26131.40118.89105.10
Revenue From Operations / Share (Rs.) 232.63216.42214.05187.78167.61
PBDIT / Share (Rs.) 43.0445.5028.9235.1431.48
PBIT / Share (Rs.) 38.5539.5920.8426.9623.74
PBT / Share (Rs.) 37.7838.6719.6125.4019.19
Net Profit / Share (Rs.) 28.6329.3614.4618.6613.61
NP After MI And SOA / Share (Rs.) 28.6329.3614.4618.4213.30
PBDIT Margin (%) 18.4921.0213.5118.7118.78
PBIT Margin (%) 16.5718.299.7314.3514.16
PBT Margin (%) 16.2417.869.1613.5211.44
Net Profit Margin (%) 12.3013.566.759.938.11
NP After MI And SOA Margin (%) 12.3013.566.759.807.93
Return on Networth / Equity (%) 15.9618.6611.0015.4912.80
Return on Capital Employeed (%) 20.3923.6314.4620.0319.87
Return On Assets (%) 12.5614.307.9410.758.73
Long Term Debt / Equity (X) 0.000.000.000.080.00
Total Debt / Equity (X) 0.000.000.000.080.00
Asset Turnover Ratio (%) 1.081.121.210.540.46
Current Ratio (X) 3.763.042.702.732.70
Quick Ratio (X) 3.763.042.702.732.70
Dividend Payout Ratio (NP) (%) 31.4018.7334.5521.169.01
Dividend Payout Ratio (CP) (%) 27.1515.5922.1614.655.69
Earning Retention Ratio (%) 68.6081.2765.4578.8490.99
Cash Earning Retention Ratio (%) 72.8584.4177.8485.3594.31
Interest Coverage Ratio (X) 56.4749.3123.4822.5013.27
Interest Coverage Ratio (Post Tax) (X) 38.5632.8212.7412.957.65
Enterprise Value (Cr.) 15171.3712988.215476.977684.405517.20
EV / Net Operating Revenue (X) 2.872.651.131.811.46
EV / EBITDA (X) 15.5312.608.369.687.77
MarketCap / Net Operating Revenue (X) 3.012.801.281.961.64
Retention Ratios (%) 68.5981.2665.4478.8390.98
Price / BV (X) 3.913.852.083.092.64
Price / Net Operating Revenue (X) 3.012.801.281.961.64
EarningsYield 0.040.040.050.050.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Zensar Technologies Ltd. is a Public Limited Listed company incorporated on 29/03/1963 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L72200PN1963PLC012621 and registration number is 012621. Currently Company is involved in the business activities of Providing software support and maintenance to the clients. Company's Total Operating Revenue is Rs. 2738.80 Cr. and Equity Capital is Rs. 45.30 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
IT Consulting & SoftwareZensar Knowledge Park, Plot # 4, MIDC Kharadi, Pune Maharashtra 411014Contact not found
Management
NamePosition Held
Mr. H V GoenkaChairman & Non-Exe.Director
Mr. Anant Vardhan GoenkaVice Chairman & Non Exe.Dire
Mr. Manish TandonManaging Director & CEO
Mr. Ketan DalalInd. Non-Executive Director
Mr. Ben DruskinInd. Non-Executive Director
Ms. Radha RajappaInd. Non-Executive Director
Mr. U B Pravin RaoInd. Non-Executive Director
Mr. Harsh MariwalaInd. Non-Executive Director

FAQ

What is the intrinsic value of Zensar Technologies Ltd and is it undervalued?

As of 03 May 2026, Zensar Technologies Ltd's intrinsic value is ₹388.82, which is 27.46% lower than the current market price of ₹536.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (18.1 %), book value (₹208), dividend yield (2.43 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Zensar Technologies Ltd?

Zensar Technologies Ltd is trading at ₹536.00 as of 03 May 2026, with a FY2026-2027 high of ₹895 and low of ₹511. The stock is currently near its 52-week low. Market cap stands at ₹12,190 Cr..

How does Zensar Technologies Ltd's P/E ratio compare to its industry?

Zensar Technologies Ltd has a P/E ratio of 15.4, which is below the industry average of 49.48. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Zensar Technologies Ltd financially healthy?

Key indicators for Zensar Technologies Ltd: ROCE of 23.5 % indicates efficient capital utilization; ROE of 18.1 % shows strong shareholder returns. Dividend yield is 2.43 %.

Is Zensar Technologies Ltd profitable and how is the profit trend?

Zensar Technologies Ltd reported a net profit of ₹650 Cr in Mar 2025 on revenue of ₹5,281 Cr. Compared to ₹422 Cr in Mar 2022, the net profit shows an improving trend.

Does Zensar Technologies Ltd pay dividends?

Zensar Technologies Ltd has a dividend yield of 2.43 % at the current price of ₹536.00. This is a relatively attractive yield for income-seeking investors.

Last Updated: April 26, 2026, 12:38 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 504067 | NSE: ZENSARTECH
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Zensar Technologies Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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