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Zensar Technologies Limited

ZENSARTECH.NS
57
Information Technology Services · Technology
Price
₹441.85
-8.30 (-1.84%)
Market Cap
₹100.19B
Exchange
National Stock Exchange of India
Winston Score
57
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Sep 17, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Strong
Cash Flow
Weak
Stability
Good
Valuation
Good
Dividends
Exceptional
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§Winston Score History

The full picture

Zensar Technologies is an Indian IT services company that helps businesses with software development, cloud computing, data analytics, and digital transformation. Its main customers are large enterprises in industries like banking, insurance, retail, and manufacturing. Zensar is a subsidiary of RPG Enterprises, one of India's oldest business conglomerates.

The company makes money by providing technology consulting and outsourced IT services, typically through long-term contracts billed on a time-and-materials or fixed-price basis. Zensar operates globally with a significant presence in the United States, Europe, and South Africa, alongside its delivery centers in India. It competes against much larger IT services firms like TCS, Infosys, and Wipro, positioning itself as a mid-tier player focused on digital services. Key growth depends on winning larger digital transformation deals, though intense competition and client spending slowdowns in uncertain economic environments remain ongoing risks.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+8.9% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+1.1% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

₹0/ year

0.0% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

49.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

₹0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Zensar Technologies Limited is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.9% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 227.9M (2022) → 229.9M (2026)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
20.0%
Thin — 20.0% gross margin
Profit after running costs
Operating Margin
12.8%
Healthy — 12.8% operating margin
Return on the money invested
ROCE
17.6%
Strong — 17.6% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+8.1%
Steady sales growth (+8.1% YoY)
Profit growth
EPS YoY
+15.2%
Earnings growing fast (+15.2% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
40%
Weak — only 40% of profit becomes cash
Spare cash per sale
FCF Margin
4.9%
Thin free cash flow (4.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
69.14x
Comfortably covers interest (69.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
12.9x
Attractive valuation — P/E 12.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+0.2
GROWING
Earnings roughly flat

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Dividends

Dividend
Dividend Yield
5.79%
Healthy income — 5.79% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+100.0%
Dividend growing fast (100.0% YoY)

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