Zensar Technologies Share Price Jumps 8% After Q2 FY27 Results: What BFSI Growth and AI Deals Mean for the Rally
- October 29, 2026
- Posted by: Kunal Singla
- Category: News
Zensar Technologies shares traded at Rs 538.10 at 3:16 PM IST on 29 Oct 2026, up 8.27% from Rs 497.00, a day after Q2 FY27 results showed revenue of $166.2 million (up 4.1% sequentially in constant currency), an EBITDA margin of 15.8% and a net profit of Rs 190.2 crore.
Quick Answer
The Zensar Technologies share price rose 8.27% to Rs 538.10 on 29 Oct 2026 after Q2 FY27 results showed an EBITDA margin of 15.8%, up 120 basis points from Q1, and BFSI revenue growth of 17.1% year on year. The growth is narrow, because telecom, media and technology (TMT) revenue fell 21.6% and healthcare fell 9.9% over the same period. Profit in dollars fell 4.0% year on year even though profit in rupees rose, which points to a weaker rupee doing part of the work. This article is educational and not a recommendation to buy or sell.
The Zensar Technologies share price has gained about 25% in a month, according to the headline that prompted this article, so the real question is how much of that move the Q2 numbers justify. Below are the results, the verticals behind them, the valuation, what could go wrong, and what to watch before the next quarter.
Three flags. I did not recompute the 25% monthly gain, which comes from the headline. Sources differ on sequential growth, at 4.1% in constant currency in one and 4.2% in dollars in another, and data providers show a margin near 18.4% against the company’s 15.8% because of different definitions. I also found no brokerage targets published after the results. It is educational and not advice.
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Zensar Technologies Share Price Today: Snapshot
| Zensar Technologies share price: item (NSE, 3:16 PM IST) | Value |
|---|---|
| Last price | Rs 538.10 |
| Previous close | Rs 497.00 |
| Change on the day | Up 8.27% |
| Day range | Rs 491.05 to Rs 544.90 (opened at Rs 503.00) |
| 52-week range | Rs 416.15 to Rs 814.15 |
| Below the 52-week high (my calculation) | About 34% |
| Above the 52-week low (my calculation) | About 29% |
| Volume so far | About 84.8 lakh shares |
Even after this jump, the Zensar Technologies share price sits about a third below its 52-week high of Rs 814.15. The rally therefore recovers part of an earlier fall and is not a new high, which matters when judging how stretched it is.
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Q2 FY27 Results Behind the Zensar Technologies Share Price
| Zensar Technologies share price: Q2 FY27 item | Reported figure |
|---|---|
| Revenue (dollars) | $166.2 million, up 4.1% sequentially in constant currency |
| Revenue (rupees) | Rs 1,585.2 crore, up 5.1% on the quarter and 11.5% on the year |
| Year-on-year growth, constant currency | About 2.0% |
| EBITDA | $26.2 million, a margin of 15.8%, up 120 basis points on the quarter |
| Gross margin | 29.5%, against 29.7% in Q1 and 31.0% a year ago |
| Net profit (rupees) | Rs 190.2 crore, against Rs 183.8 crore in Q1 |
| Net profit (dollars) | $20.0 million, up 2.8% on the quarter and down 4.0% on the year |
| Utilisation excluding trainees | 87.6%, up from 85.1% |
For the Zensar Technologies share price, the currency effect matters, because rupee revenue grew 11.5% on the year while constant-currency growth was about 2.0%, so most of the headline growth comes from the exchange rate. My calculation from the profit figures gives the same picture: rupee profit rose about 4.4% on the year, dollar profit fell 4.0%, which implies the rupee was roughly 8% to 9% weaker. That does not make the quarter poor, but it shows that underlying demand grew slowly.
The margin gain behind the Zensar Technologies share price is real but needs context. Q1 included a reversal of management bonus that affected the comparison, and the gross margin slipped to 29.5%. Better utilisation did most of the work, because it lifted the EBITDA margin even as direct delivery costs rose.
BFSI and AI Deals: What Lifts the Zensar Technologies Share Price
| Zensar Technologies share price: vertical or region | Q2 FY27 growth (constant currency) |
|---|---|
| BFSI | Up 7.1% on the quarter and 17.1% on the year; 50.3% of revenue, from 48.8% |
| Manufacturing and consumer services | Up 2.9% on the quarter; flat on the year |
| Healthcare and life sciences | Up 2.4% on the quarter; down 9.9% on the year |
| Telecom, media and technology (TMT) | Down 2.2% on the quarter and 21.6% on the year |
| United States | Up 4.5% on the quarter and 2.5% on the year |
| Africa | Up 6.7% on the quarter and 2.2% on the year |
For the Zensar Technologies share price, BFSI is the main support: it added about $5.5 million of revenue in the quarter and now makes up half the business. The company also said AI-influenced deals were 36% of its order book, which stood at $151.5 million, up 1.5% on the quarter. The deal values were not disclosed, so the impact of AI-influenced deals cannot be measured independently.
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Five-Quarter Trend Behind the Zensar Technologies Share Price
| Zensar Technologies share price: quarter | Net profit (Rs crore) | Operating margin (data provider) |
|---|---|---|
| Q2 FY26 (Sep 2025) | 182.2 | 18.93% |
| Q3 FY26 (Dec 2025) | 199.8 | 20.10% |
| Q4 FY26 (Mar 2026) | 210.6 | 20.76% |
| Q1 FY27 (Jun 2026) | 183.8 | 18.44% |
| Q2 FY27 (Sep 2026) | 190.2 | 18.42% |
The trend gives a more cautious reading of the Zensar Technologies share price. Net profit of Rs 190.2 crore is about 4.4% above a year ago by my calculation, but it is below the Rs 210.6 crore of Q4 FY26. The data provider’s operating margin was flat on the quarter at about 18.4%, while the company reports a 120 basis point rise in EBITDA margin, which is a definition gap I could not reconcile.
What May Limit the Zensar Technologies Share Price
A rally in the Zensar Technologies share price of this size can fade when the weaker parts of a result catch up. TMT is down more than a fifth from a year ago, healthcare is shrinking, and the growth that remains depends heavily on one vertical. Unbilled receivable days rose to 35 from 27, and total receivable days rose to 77 from 75, so cash conversion needs watching.
Client concentration is also high, with the top ten clients contributing 38.5% of revenue. A delay at one or two large accounts could move quarterly numbers, and it can matter more for a mid-sized IT company than for a larger peer, and the Zensar Technologies share price can react quickly.
Valuation and Ownership Around the Zensar Technologies Share Price
| Zensar Technologies share price: valuation item | Value (at the previous close of Rs 497) |
|---|---|
| Market capitalisation | About Rs 11,320 crore |
| Price to earnings | 14.58, against an industry figure of 17.58 |
| Price-to-book | 2.40 |
| Return on equity | 16.41% |
| Dividend yield | About 3.0% |
| Debt to equity | 0.02; cash and investments of $297.3 million at the end of Q2 |
| Promoter holding (Sep 2026) | 48.98%, with FIIs at 10.21% and DIIs at 21.71% |
At today’s price of Rs 538.10, my calculation puts the price to earnings near 15.8 on the same earnings per share of Rs 34.09, still below the industry figure. A discount to peers can reflect the narrow growth, so it should not be read as a bargain by itself. The board also approved merging its subsidiary M3BI India into the parent from 1 April 2027, with no immediate change to operations.
What to Watch Next for the Zensar Technologies Share Price
- TMT and healthcare. Check whether the year-on-year declines of 21.6% and 9.9% ease in Q3, since the Zensar Technologies share price now depends on BFSI to carry growth.
- Margin quality. Watch whether the 15.8% EBITDA margin holds once utilisation stops rising and gross margin stays near 29.5%.
- Order book. Look for conversion of the $151.5 million order book and any disclosure of the value of AI-influenced deals, since both support the Zensar Technologies share price.
- Rupee and cash. Follow the exchange rate and the receivable days, because both affect reported profit and cash.
Risks Around the Zensar Technologies Share Price
- Narrow growth. BFSI is over half of revenue while TMT and healthcare shrink, so one weak vertical can erase gains in the Zensar Technologies share price.
- Currency dependence. About 2.0% constant-currency growth against 11.5% in rupees means a stronger rupee would cut reported growth and could weigh on the Zensar Technologies share price.
- Margin pressure. Gross margin is below last year’s level, and the Q1 comparison was affected by a bonus reversal, which makes margin trends harder to read.
- Sharp one-day moves. An 8% jump after results can reverse if the broader IT sector weakens, as it did earlier this week.
- Data gaps. I found no post-results brokerage targets, so there is no external view to test the rally against.
Conclusion: Read the Zensar Technologies Share Price Move Carefully
The Q2 FY27 numbers show better utilisation, a healthy BFSI vertical, AI-influenced deals at 36% of the order book and a margin recovery, but also a weak dollar profit and shrinking TMT and healthcare. The Zensar Technologies share price move is a reaction to improvement from a low base, and the next results will show whether it can last. Decide in line with your own risk profile.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Why did the Zensar Technologies share price jump on 29 October 2026?
Ans. Shares rose 8.27% to Rs 538.10 after Q2 FY27 results showed revenue of $166.2 million, an EBITDA margin of 15.8% and BFSI growth of 17.1% year on year. The move also follows a gain of about 25% over the month, according to the headline.
What were Zensar’s Q2 FY27 profit and revenue?
Ans. Consolidated revenue was Rs 1,585.2 crore, up 11.5% on the year, and net profit was Rs 190.2 crore, up from Rs 183.8 crore in Q1. In dollars, revenue was $166.2 million and profit was $20.0 million, down 4.0% on the year.
Is the growth in Zensar’s Q2 FY27 results broad-based?
Ans. No. BFSI grew 17.1% year on year, but TMT fell 21.6%, healthcare fell 9.9% and manufacturing and consumer services were flat. Constant-currency growth on the year was about 2.0%.
What is the valuation of Zensar Technologies?
Ans. At the previous close of Rs 497, the price to earnings was 14.58 against an industry figure of 17.58, and the price-to-book was 2.40. At Rs 538.10 my calculation gives a price to earnings near 15.8.
What is the 52-week range of the Zensar Technologies share price?
Ans. The range is Rs 416.15 to Rs 814.15. At Rs 538.10 the stock is about 34% below the high and about 29% above the low.
What does the M3BI India merger mean for Zensar?
Ans. The board approved merging subsidiary M3BI India into the parent from 1 April 2027. There is no immediate change to operations, and the financial effect will follow the effective date and approvals.
Is this Zensar Technologies share price article a buy recommendation?
Ans. No. It explains reported results and risks. Share prices can reverse quickly after a sharp rise, so check the latest data and consider a SEBI-registered adviser.
Is this article investment advice?
Ans. No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.
