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Zensar Technologies Results: Latest Quarterly Results & Analysis

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Zensar Technologies Ltd. 22 Jul 2025 16:14 PM

Q1FY26 Quarterly Result Announced for Zensar Technologies Ltd.

IT Consulting & Software company Zensar Technologies announced Q1FY26 results
  • Revenue: Rs 13,850 million, change 7.5% YoY.
  • EBITDA: Rs 2,106 million, change 7.4% YoY.
  • EBIT: Rs 1,875 million, change 6.3% YoY.
  • PAT: Rs 1,820  million, change 12.1% YoY.

Manish Tandon, CEO & Managing Director, Zensar, said: "We delivered a strong quarter with steady revenue growth, driven by growing traction in AI-led deals and impactful solution delivery. With our lowest attrition in two years, I’m proud of our people and the culture we've built. Our ongoing focus on reskilling and upskilling in next-gen tech has resulted in healthy utilization levels.

Best in class customer satisfaction score on the back of our Experience, Engineering, and Engagement approach reflects the relevance and strength of our offerings. Execution excellence remains our hallmark as we continue to drive value for clients.”

Pulkit Bhandari, CFO, Zensar, said: “We have achieved robust revenue of USD 162.0 million for this quarter translating into 1.9% growth in constant currency. EBITDA margins stood at 15.2% with PAT margin of 13.1%. We booked orders worth USD 172.0 million which is increase of 11.7% YoY. We have healthy cash & investment reserves of USD 315.7 million which underscores our financial stability and provides us with the flexibility to invest in growth opportunities.

Even in midst of political unrest and macro uncertainties, we are cautiously optimistic on our performance for the rest of the year, reliant on our core operational foundations. We strive to prioritize people and achieve outstanding client satisfaction”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q4FY25 results
  • In Q4FY25, the company reported revenue of USD 156.8 million, sequential QoQ growth of 0.9% in constant currency and QoQ decline of 0.1% in reported currency.
  • In Q4FY25, Gross Margins stood at 30.3%, sequential growth of 20bps QoQ with an EBITDA% of 15.6%.
  • For the full year FY25, the company reported revenue of USD 624.5 million, yearly YoY growth of 5.1% in constant currency and 5.4% in reported currency.
  • Company reported net cash balance of USD 290.5 million.
  • US as a region grew by 0.3% sequential QoQ and by 6.5% YoY in constant currency.
  • Europe as a region grew by 2.5% in sequential QoQ and by 10.0% in YoY constant currency terms.
  • Africa as a region grew by 0.9% sequential QoQ but declined by 1.7% in YoY constant currency terms.
  • Banking and Financial Services reported a sequential QoQ revenue growth of 3.4% in constant currency.
  • Telecommunication, Media and Technology reported a sequential QoQ revenue growth of 1.7% in constant currency.
  • Manufacturing and Consumer Services reported a sequential QoQ revenue decline of 2.6% in constant currency.
  • Healthcare and Life Sciences reported a sequential QoQ revenue decline of 1.4% in constant currency.

Manish Tandon, CEO and Managing Director, Zensar, said: “We’re proud to report consistent growth across all geographies in constant currency, Zensar’s performance reflects the resilience and global relevance of our EEE value proposition. This quarter marks our highest-ever order book, driven by strong client confidence and strategic investments. Focused efforts in mining new accounts are yielding results, with significant traction in client acquisitions. Additionally, our improved attrition number highlights the success of our people-first approach and culture that values long-term relations.”

Pulkit Bhandari, CFO, Zensar, commenting on the Q4FY25 & FY25 performance, said: “Revenue for the quarter was USD 156.8M translating into 0.9% growth in constant currency with an EBITDA margin of 15.6%. For the year, revenue stood at USD 624.5M with constant currency growth of 5.1%. Continuing our momentum with sales effort, we booked orders worth USD 213.5 million this quarter. The quality of engagements is more strategic and long term which is a validation of our strategy.

We delivered a balanced performance on all operational and financial parameters. Revenue grew along with sustainable margins. With a strong focus on verticalization, deepening service line capabilities and investing in AI solutions, we believe Zensar is well poised to capture upcoming opportunities”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q3FY25 results
  • In Q3FY25, the company reported revenue of USD 157.0 million, a quarterly YoY growth of 8.6% in reported currency and 7.5% in constant currency. This translates to a sequential QoQ growth of 0.5% in reported currency and 0.7% in constant currency.
  • In Q3FY25, the Gross Margin stood at 30.1% of revenues, representing a sequential QoQ improvement of 200 basis points.
  • Manufacturing and Consumer Services reported a quarterly YoY revenue growth of 15.2% and sequential QoQ revenue growth of 6.1% in reported currency.
  • Healthcare and Life Sciences reported a quarterly YoY revenue growth of 24.0% and sequential QoQ revenue growth of 3.2% in reported currency.
  • Banking and Financial Services reported a quarterly YoY revenue growth of 12.9% and sequential QoQ revenue decline of 1.4% in reported currency.
  • Telecommunication, Media and Technology reported a quarterly YoY revenue decline of 10.2% and sequential QoQ revenue decline of 3.7% in reported currency.

Manish Tandon, CEO and Managing Director, Zensar, said: “Our growth in this quarter reflects the resilience of our business and the dedication of our team amidst a quarter that is traditionally challenging for the industry. Our strategic business approach and focus on execution and AI translate positively into the company’s overall performance.

Our growing headcount reinforces our commitment towards talent and innovation. We continue to focus on growth and investing for the same. As we move forward, we continue our efforts to deliver value to all our stakeholders and stay true to our organizational values of being ‘ONE with the Client’”

Pulkit Bhandari, CFO, Zensar, commenting on the Q3FY25 performance, said: “Our execution and delivery excellence has led us to achieve best performance in Q3. Revenues for the quarter stood at USD 157.0 million, which grew by 70 bps sequentially in constant currency. We have clocked order book of USD 205.3 million this quarter showcasing our strong sales efforts. Our EBITDA improved by 20 bps to 15.6% despite seasonal furlough. Further, our DSO improved by 3 days to 68 days on account of healthy collections. With determined focus on customer satisfaction, execution, and cost optimization, we strive to continue our journey of sustaining margins while delivering on revenue growth”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q2FY25 results
  • In Q2FY25, the company reported revenue of USD 156.2 million, sequential QoQ growth of 1.2% in reported currency. On a YoY basis, this translates to 4.0% growth in reported currency and 3.3% in constant currency.
  • In Q2FY25, the EBITDA stood at 15.4% of revenues, representing a sequential QoQ increase of 20 basis points.
  • Banking and Financial Services reported a sequential QoQ revenue growth of 4.2% and quarterly YoY revenue growth of 14.0% in reported currency.
  • Manufacturing and Consumer Services reported a sequential QoQ revenue growth of 2.8% and quarterly YoY revenue growth of 5.5% in reported currency.
  • Telecommunication, Media and Technology reported a sequential QoQ revenue decline of 8.6% and quarterly YoY revenue decline of 14.4% in reported currency.
  • Healthcare and Life Sciences reported a sequential QoQ revenue growth of 8.8% and quarterly YoY revenue growth of 13.3% in reported currency.

Manish Tandon, CEO and Managing Director, Zensar, said: “We delivered a rounded positive performance in Q2FY25, with sequential growth in majority of our portfolio. Our highest ever order book this quarter reflects the continued focus on client-centricity and commitment of our employees to drive value and innovations.

While pleased with our overall performance, we recognize that the market landscape remains dynamic and competitive. A disciplined approach and continuous investment in focus areas to support long-term growth will enable us to thrive. “

Pulkit Bhandari, CFO, Zensar, commenting on the Q2FY25 performance, said: “We have given annual salary increments across the organization whilst improving EBITDA margin by 20 basis points to 15.4%. Our Profit After Tax (PAT) for the quarter stood at 11.9%. On the back of strong collections, we have further improved our DSO by 1 day to 71 days which translated to healthy cash and cash equivalents of USD 255.0 million post pay-out for dividend and an acquisition.

With strong commitment towards customer satisfaction and innovation we strive to further improve Zensar’s performance”

Result PDF

IT Consulting & Software company Zensar Technologies announced Q1FY25 results:
  • In Q1FY25, the company reported revenue of USD 154.4 million, sequential QoQ growth of 4.2% in reported currency and 4.3% in constant currency. On a YoY basis this translates to 3.4% growth in reported currency
  • The company reported net cash of USD 280.9 million at the end of Q1FY25, QoQ growth of 7.3%
  • For the second consecutive quarters we have witnessed growth across all the verticals
  • Banking and Financial Services reported a sequential QoQ revenue growth of 6.8% in both reported and constant currency
  • Manufacturing and Consumer Services reported a sequential QoQ revenue growth of 2.4% in reported currency and 2.7% in constant currency
  • Telecommunication, Media and Technology reported a sequential QoQ revenue growth of 1.2% in both reported and constant currency
  • Healthcare and Life Sciences reported a sequential QoQ revenue growth of 6.9% in both reported and constant currency
  • US region reported a sequential QoQ revenue growth of 6.5% in reported currency and 6.6% in constant currency
  • On July 17, 2024, Zensar has entered into definitive agreement for acquisition of 100% stake in Bridge View Life Sciences, a Pennsylvania-based technology and consulting solutions company in the Life Sciences industry. This move reinforces our focus on the Healthcare and Life Sciences vertical

Manish Tandon, CEO and Managing Director, Zensar, said, “Our unwavering commitment to engineering excellence, customer experience, and client engagement helped us deliver strong results in Q1FY25. We recorded growth in overall company revenue driven by sequential growth across all our verticals.

Buoyed by our strong customer experience score and with the help of key strategic investments, we continue to deepen our engagement to drive greater value for our customers, stakeholders and employees alike.”

Further, commenting on the Q1FY25 performance, Manish Tandon said “Our disciplined approach on execution helped us to improve cash and cash equivalents to USD 280.9 million, QoQ addition of 19.2 million. Sequentially, we have improved our DSO by 1 day to 72 days. Our Order book stood at USD 154.0 million and PAT at 12.3% for the quarter

Result PDF

IT Consulting & Software company Zensar Technologies announced Q4FY24 & FY24 results:

Financial Highlights

:

  • In Q4FY24, the company reported revenue of USD 148.1 million, sequential QoQ growth of 2.4% in reported currency and 2.0% in constant currency.
  • For the full year FY24, the company reported services revenue of USD 591.3 million, yearly YoY growth of 1.0% in reported currency and 1.3% in constant currency.
  • In Q4FY24, EBITDA was at 16.5%, quarterly YoY increase of 200 bps and sequential QoQ decline of 70 bps.
  • In Q4FY24, PAT stood at 14.1%, a quarterly YoY increase of 430 bps and sequential QoQ increase of 70 bps.
  • The company reported net cash of USD 261.7 million at the end of Q4FY24, QoQ growth of 5.4%.
  • US region reported a sequential QoQ services revenue growth of 4.3% in reported currency and 4.2% in constant currency.
  • Europe region reported a sequential QoQ services revenue decline of 1.2% in reported currency and 3.1% in constant currency.
  • South Africa reported a sequential QoQ services revenue decline of 2.3% in reported currency and 2.0% in constant currency.
  • Banking and Financial Services reported a sequential QoQ services revenue growth of 2.5% in reported currency and 2.0% in constant currency.
  • Manufacturing and Consumer Services reported a sequential QoQ service revenue growth of 3.0% in reported currency and 2.3% in constant currency.
  • Hitech reported a sequential QoQ services revenue growth of 0.8% in reported currency and 0.7% in constant currency.
  • Healthcare and Life Sciences reported a sequential QoQ services revenue growth of 3.6% in reported currency and 3.5% in constant currency.

Manish Tandon, CEO and Managing Director, Zensar, said, “Sequential growth across all our verticals is a testimony of our robust strategy and our bias towards execution excellence. Our expertise in managing digital products, experiences, and engagement for our clients makes us a preferred partner of choice. We moved strength to strength in our client centricity journey by achieving our best customer experience score ever in FY24.

We expanded our market reach with the help of our diversified service offerings. We continue to focus on client and employee satisfaction as our primary pillars of success. Our results give us the confidence to continue strategic investments in our service lines and enhance our capabilities in new age technologies such as Gen AI to foster innovation and deliver growth.”

Sachin Zute, CFO, Zensar, commenting on the FY24 performance, said, “We have achieved strong financial results for FY’24 owing to our focused efforts towards operational excellence & margin improvement tracks which helped us improve our EBITDA by 640 bps to 17.8% and PAT by 690 bps to 13.6% on YoY basis. Our cash stood at USD 261.7M and we further improved our DSO to 73 days at the end of FY’24. We continue to have strong momentum in our order book which grew by 22% YOY and stood at USD 698M for the year.

For Q4FY24, our reported revenue is USD 148.1 million growth of 2.4% sequentially and 2.0% in constant currency. EBITDA margin for Q4 stood at 16.5% which is above our guided range.”

Result PDF

IT Consulting and Software company Zensar Technologies announced Q2FY24 results:

Revenue and Financial Performance:
- In Q2FY24, Zensar reported revenue of USD 150.2M, a sequential QoQ revenue growth of 0.6% in reported currency and 0.2% in constant currency.
- EBITDA was at 18.6% and PAT stood at 14.0% of revenues.
- The company reported net cash of USD 227.1M at the end of Q2FY24, with a quarterly YoY growth of 40.1%.

Geographical Performance:
- Europe region reported a sequential QoQ growth of 11.3% and a quarterly YoY growth of 12.8% in constant currency.
- South Africa reported sequential QoQ growth of 9.1% and a quarterly YoY growth of 18.8% in constant currency.
- The US region reported a sequential QoQ decline of 4.3% and a quarterly YoY decline of 10.7% in constant currency.

Vertical Performance:
- Banking and Financial Services reported a sequential QoQ revenue growth of 3.1% and a quarterly YoY growth of 7.8% in constant currency.
- Manufacturing and Consumer Services reported a sequential QoQ growth of 6.7% and a quarterly YoY decline of 0.7% in constant currency.
- Hitech reported a sequential QoQ decline of 8.0% and a quarterly YoY decline of 16.9% in constant currency.
- Healthcare and Life Sciences reported a sequential QoQ decline of 1.5% and a quarterly YoY decline of 4.7% in constant currency.

Manish Tandon, CEO and Managing Director, Zensar, said, "Our 'Experience-Engineering-Engagement' proposition continues to deliver value to the customers. While we saw some slowdown in certain areas of the business, we also experienced good momentum in a few of our geographies and verticals. This demonstrates the resilience of our business model and the strength of our customer relationships.

Our core service lines are resonating well and are helping clients to achieve competitive differentiation. We are accelerating our Talent Transformation journey to enhance the skills of our employees and strengthen our diverse talent pool."

Sachin Zute, CFO, Zensar, commenting on the Q2FY24 performance, said, "Our Profit After Tax (PAT) stood at 14.0% for the quarter, increased by a healthy 130 basis points QoQ and 940 basis points YoY. We have given annual wage hikes across the company effective July 1, while also maintaining the margin in the mid-teens because of multiple margin improvement levers and disciplined budgetary control across the organization. The company reported net cash of USD 227.1M at the end of the quarter, with YoY growth of 40.1%. As we step into the second half of this fiscal year, we have a healthy order book. We continue to stay focused on execution, innovation, and cost optimization to further maintain Zensar's financial performance achieved in the last few quarters.

 

 

Result PDF

IT Consulting & Software company Zensar Technologies announced Q1FY24 results:

  • In Q1FY24, the company reported services revenue of USD 149.2 million, a sequential QoQ growth of 2.3% and constant currency 2.4%.
  • In Q1FY24, the company reported total revenue of USD 149.3 million, sequential QoQ growth of 1.3% both in reported and constant currency term.
  • In Q1FY24, the EDITDA stood at 18.7% and the PAT stood at 12.7% of revenues.
  • The company reported net cash of USD 233.8 million at the end of Q1FY24, with a QoQ growth of USD 32.3 million and YoY growth of 42.9%.
  • Europe region registered a sequential QoQ services revenue growth of 6.0% in constant currency and a quarterly YoY services revenue growth of 3.4% in constant currency.
  • US region registered a sequential QoQ services revenue growth of 1.3% in constant currency and a quarterly YoY services revenue decline of 0.2% in constant currency.
  • South Africa registered a sequential QoQ services revenue growth of 3.4% in constant currency and a quarterly YoY services revenue growth of 19.6% in constant currency.
  • Banking, Financial Services, and Insurance reported sequential QoQ services revenue growth of 4.0% in constant currency and a quarterly YoY services revenue growth of 13.2% in constant currency.
  • Hi-Tech and Emerging registered a sequential QoQ services revenue decline of 2.6% in constant currency and a quarterly YoY services revenue decline of 4.0% in constant currency.
  • Manufacturing and Consumer Services registered a sequential QoQ services revenue growth of 6.2% in constant currency and YoY services revenue decline of 1.3% in constant currency.
  • Headcount as of June 30, 2023, stood at 10,540.

Manish Tandon, CEO and Managing Director, Zensar Technologies, said, “In Q1FY24, we saw good growth in revenue and improved margins despite the macro challenges within the industry. Our quarterly services revenue stood at USD 149.2 million, a sequential QoQ growth of 2.4% in constant currency. Our quarterly revenues are at USD 149.3 million, with a sequential QoQ growth of 1.3% in both reported and constant currency terms. In line with our stated strategy, we continue to defocus on pass through revenues. Our EBITDA increased by 420 basis points to 18.7%. We have witnessed good improvement in margins, and a portion of these are being reinvested into the business. As one of our core principles, we continue to drive client-centricity across the organization. We remain committed to allocating resources for the skill enhancement of our employees and strengthening our diverse pool of talent. Through these strategic initiatives, we aim to drive client success and foster sustainable business expansion.”

Sachin Zute, CFO, Zensar Technologies, commenting on the Q1FY24 performance, said, “Our PAT stood at 12.7% for the quarter, a sequential QoQ increase of 290 basis points and YoY increase of 660 basis points. We saw an increase in our cash and cash equivalents which stood at USD 233.8 million, a QoQ increase of USD 32.3 million and quarterly YoY growth of 42.9%. The DSO for the quarter continues to be healthy and remained at 74 days. Our unwavering commitment to enhancing operational improvements has helped us bolster the financial performance of Zensar.”

 

Result PDF

IT Consulting & Software company Zensar Technologies announced Q4FY23 & FY23 results:

  • In Q4FY23, the company reported revenue of USD 147.5 million, a sequential QoQ growth of 1.1%, and constant currency of 0.4%
  • In Q4FY23, the company reported services revenue of USD 145.8 million, a sequential QoQ growth of 2.7%, and constant currency of 2.0%
  • In Q4FY23, the gross margin stood at 31.9% of revenues in Q4FY23, representing a sequential QoQ increase of 460 basis points
  • In Q4FY23, PAT stood at 9.8% of revenues, a sequential QoQ increase of 340 basis points
  • For FY23, the company reported revenue of USD 604.2 million, an increase of 6.1% YoY
  • For FY23, the PAT stood at 6.7% of the revenue
  • The company reported net cash and cash equivalents of USD 201.5 million at the end of Q4FY23
  • The US region reported a 6.5% YoY growth
  • Europe reported a 6.0% of YoY growth and 20.0% of YoY growth in constant currency
  • South Africa reported a 3.8% of YoY growth and 18.3% of YoY growth in constant currency
  • BFSI reported a 22.3% of YoY growth and 29.6% of YoY growth in constant currency
  • Hi-Tech and Manufacturing registered a 0.9% of YoY growth and 2.7% of YoY growth in constant currency
  • Consumer Services reported a decline of 5.2% YoY growth while it registered a positive 0.1% of YoY growth in constant currency

Manish Tandon, CEO and Managing Director, Zensar Technologies, said, “In Q4FY23, we continued to make significant progress toward improving profitability, with EBITDA increasing by 320 basis points to 14.5%. We ended FY23 on a positive note, with quarterly revenue of USD 147.5 million, a sequential QoQ growth of 0.4% in constant currency, and annual revenue of USD 604.2 million, representing YoY growth of 10.3% in constant currency. Our quarterly services revenue stood at USD 145.8 million, a sequential QoQ growth of 2.0% in constant currency. In addition, at 19.8%, our LTM attrition saw a YoY improvement of 810 basis points. But more than the numbers, the people of Zensar are the company’s heartbeat, and by investing in our associates, we keep our entire ecosystem healthy and strong. Together, we put client-centricity at the core of our business. As we unlock the next phase of growth for Zensar, we honor that approach by making decisive moves that will propel us forward to deliver the highest value to our clients and their customers.”

Speaking on the Q4FY23 performance, Sachin Zute, CFO, Zensar Technologies said, “Our continuous rigor in driving operational efficiencies has helped improve the company's margins. Our PAT stood at 9.8% for the quarter, a QoQ increase of 340 basis points. We had one of the best DSO in recent quarters, and collections were healthy for the company. DSO stood at 74 days for the quarter, improved by 6 days QoQ. Our net cash stood at USD 201.5 million at the end of Q4FY23, an additional USD 22.1 million QoQ, and USD 45.8 million YoY. Our order book for Q4FY23 stood at USD 174.9 million, a seasonally high growth of 34.0% over the last quarter. The Board of Directors in its meeting on January 23, 2023, declared an interim dividend of Rs 1.50 per equity share. In addition, the Board of Directors in their meeting held on May 11, 2023, have recommended a final dividend of Rs 3.50 per equity share, subject to the approval of shareholders.”

 

 

Result PDF

IT consulting and software firm Zensar Technologies announced Q3FY23 results:

  • Q3FY23:
    • The company reported revenue of US$ 145.9 million, quarterly YoY growth of 3.6% in constant currency and sequential QoQ decline of 5.3%
    • EBITDA was at 11.3% of revenues and the PAT stood at 6.4% of revenues
    • The company reported net cash of US$ 179.4 million at the end of Q3FY23
    • The US region posted sequential QoQ decline of 8.0% and quarterly YoY decline of 2.1%
    • The Europe region registered sequential QoQ growth of 2.2% and quarterly YoY growth of 18.7% in constant currency
    • South Africa registered quarterly YoY growth of 15.0% in constant currency and was flat on QoQ
    • Banking, Financial Services, and Insurance (BFSI) reported sequential QoQ decline of 1.3% and quarterly YoY growth of 19.8% in constant currency
    • Hi-Tech and Manufacturing (HTM) and emerging registered sequential QoQ decline of 9.3% and quarterly YoY decline of 2.5% in constant currency
    • Consumer services registered sequential QoQ decline of 2.3% and quarterly YoY decline of 6.8% in constant currency.

Manish Tandon, CEO and Managing Director, Zensar Technologies, said, "In Q3FY23, we reported a marked improvement in profitability, with the EBITDA increasing by 270 basis points. Our quarterly revenues are at US$ 145.9 million, with a YoY growth of 3.6% in constant currency. In the one month since joining Zensar, I have spent time understanding our fundamentals. With our strong investments in our service lines, our vertical capabilities, and our strong leadership, we are positioned well to drive sustainable and profitable growth. Currently, I am focused on meeting with our global teams and top clients to understand the opportunities to build a more resilient organization with client-centricity at its core."

He further added, "I am amazed at the energy and passion of our associates worldwide and am working closely with the board, senior leadership team, and the extended teams to drive client-centric initiatives, people-driven investments with a clear objective to add value at each step of the client's engagement with us."

Commenting on Q3F23 performance, Sachin Zute, CFO Zensar Technologies, said, "This quarter was marked by furloughs across client organizations, impacting our overall metrics. The initiatives we undertook in the previous quarters have resulted in an increase in EBITDA to 11.3% and our constant currency YoY growth in revenues by 3.6% kept the momentum on a quarterly YoY basis. We intend to keep the rigor on the margins as we focus on driving growth across accounts."

Result PDF

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