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Mid-sized IT services company (RPG Group) providing digital, cloud and application services to global enterprises.
Mid-sized IT services company (RPG Group) providing digital, cloud and application services to global enterprises.
Is paid mainly for staff time and fixed-price projects, billed to enterprises that outsource application and technology work, so revenue follows headcount and utilisation. The US is by far its biggest market, and the RPG Group, an Indian industrial group, controls it.
In one line: A smaller Indian IT services vendor.
Moat: narrow (switching costs). Embedded, multi-year IT outsourcing contracts create moderate switching costs for clients.
Headquarters: Pune, India · Founded: 1963 · Employees: 10,779
Size Zensar Technologies (ZENSARTECH.NS) is an India Information Technology company (Packaged Software) with a market value of $1.37B, the 495th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹568.80 on 6 Nov 2026.
Performance Over six months the shares gained 9.3%, against -15.0% for the median peer and 0.0% for the India market (cap-weighted) — 6th highest of 20 in its peer set.
Growth Revenue grew 8.8% over the last twelve months (peer median +8.7%); the operating margin is 14.2% (peer median -2.0%).
Valuation It trades at 16.9× forward earnings against a peer median of 18.1× (8th cheapest of 15).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +5 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 12.2 points above its cost of capital (15.7% WACC).
Next results Next results expected around 14 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹59.7B | ₹56.9B | ₹52.8B | ₹49.0B | ₹48.5B |
| Revenue growth | — | +8% | +8% | +1% | — |
| Gross profit | ₹12.4B | ₹10.8B | ₹10.1B | ₹9.83B | ₹6.33B |
| EBITDA | ₹9.56B | ₹9.28B | ₹8.42B | ₹8.80B | ₹5.59B |
| Net income | ₹7.84B | ₹7.75B | ₹6.50B | ₹6.65B | ₹3.28B |
| Free cash flow | n/a | ₹8.57B | ₹6.10B | ₹6.86B | ₹7.04B |
| Capital expenditure | n/a | ₹537M | ₹369M | ₹164M | ₹368M |
| Total debt | ₹645M | ₹793M | ₹1.25B | ₹1.86B | ₹2.73B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Zensar Technologies ZENSARTECH.NS | $1.37B | +9% | +9% | 14% | 16.9× | 13.4% |
| Mphasis MPHASIS.NS | $5.15B | +15% | +14% | 15% | 22.4× | 28.7% |
| Hexaware Technologies HEXT.NS | $3.26B | +9% | +13% | 12% | 21.7× | 15.4% |
| Persistent Systems PERSISTENT.NS | $10.6B | +21% | +27% | 16% | 43.9× | 37.4% |
| Coforge COFORGE.NS | $9.71B | +62% | +41% | 16% | 35.2× | 34.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ZENSARTECH.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +29.5% | -0.4% | 2nd highest of 21 |
| 6-month return | +9.3% | -15.0% | 6th highest of 20 |
| Distance from 52-week high | -30.1% | -38.5% | 10th highest of 21 |
| Revenue growth (TTM) | +8.8% | +8.7% | 11th highest of 21 |
| Operating margin | 14.2% | -2.0% | 4th highest of 21 |
| Forward P/E | 16.9× | 18.1× | 8th cheapest of 15 |
| Growth the price implies (Req g, 7 yrs) | 13.4% | 13.5% | 7th least demanding of 14 |
| Growth delivered (Del g) | +8.5% | +17.6% | 5th lowest of 14 |
| Hurdle (Req g minus delivered) | +4.9 pp | -18.7 pp | 4th most demanding of 14 |
| ROIC minus cost of capital | +12.2 pp | -12.5 pp | 3rd highest of 21 |
| EV / EBITDA | 10.8× | 8.9× | 4th most expensive of 8 |
| Net debt / EBITDA | -2.7× | -1.0× | 5th least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zensar Technologies ZENSARTECH.NS | India | $1.37B | +9% | +9% | 14% | 16.9× | 13.4% | +8.5% |
| Ibotta IBTA | United States | $1.37B | +19% | +2% | -3% | n/a | -1.1% | +17.6% |
| Lightspeed Commerce LSPD.TO | Canada | $1.38B | +9% | +11% | -9% | 14.4× | 13.5% | +42.0% |
| Wondershare Technology 300624.SZ | China | $1.38B | -25% | -8% | -12% | n/a | n/a | n/a |
| Playtech PTEC.L | United Kingdom | $1.39B | +7% | -54% | 0% | 11.4× | -6.0% | -7.4% |
| Transwarp Technology Shanghai 688031.SS | China | $1.35B | -45% | +27% | -49% | n/a | n/a | n/a |
| Longshine Technology 300682.SZ | China | $1.39B | -35% | +7% | -9% | 25.9× | 49.4% | +6.0% |
| Hangzhou DPTech Technology 300768.SZ | China | $1.35B | -19% | -3% | 5% | 42.3× | 34.9% | +6.5% |
| NCR Voyix VYX | United States | $1.35B | +17% | -5% | 7% | 9.9× | n/a | n/a |
| Mech-Mind Robotics Technologies 9615.HK | Hong Kong | $1.34B | n/a | +45% | -41% | n/a | n/a | n/a |
| Shenzhen Kingdom Sci-tech 600446.SS | China | $1.41B | -27% | -22% | -6% | 177.0× | n/a | n/a |
| WeRide 0800.HK | Hong Kong | $1.33B | -47% | +109% | -221% | n/a | n/a | n/a |
| SHIFT UP 462870.KS | South Korea | $1.33B | -4% | -12% | 56% | 13.3× | -12.9% | +59.7% |
| Amagi Media Labs AMAGI.NS | India | $1.32B | +30% | +30% | 3% | 60.2× | n/a | n/a |
| NSD 9759.T | Japan | $1.32B | +12% | +10% | 16% | 16.6× | -10.9% | +12.2% |
| Alkami Technology ALKT | United States | $1.44B | -25% | +24% | -5% | 13.1× | 12.6% | +31.7% |
| Opera Limited Sponsored ADR OPRA | United States | $1.31B | -21% | +23% | 16% | 11.9× | 4.5% | +30.1% |
| Bandwidth BAND | United States | $1.31B | -19% | +15% | -1% | 19.6× | 19.3% | +17.0% |
| Richinfo Technology 300634.SZ | China | $1.30B | -15% | -11% | 10% | 31.2× | 20.8% | +19.9% |
| CHAPTERS CHG.DE | Germany | $1.30B | +48% | +63% | -21% | 294.5× | 43.9% | +178.6% |
| Genimous Technology 000676.SZ | China | $1.30B | -7% | +3% | 6% | n/a | 14.1% | -17.5% |