Zen Tech Secures Annual Maintenance Contract Worth Rs 46 Cr with Ministry of Defence

Key Takeaways from Zen Technologies Contract:

• The AMC solidifies Zen Technologies' collaboration with the Ministry of Defence, showcasing the trust placed in the company's capabilities.
• This five-year contract ensures continuous support and maintenance for advanced simulators, addressing the operational needs of India's defence forces.
• The contract reinforces Zen's position as a key player in the defence simulation sector, emphasising its expertise in maintaining critical assets.
• Valued at Rs 46 Crores (including 18% GST), this AMC reflects the significant investment in defence technology and maintenance, contributing to the sector's growth.

The AMC strengthens Zen's partnership with the Ministry of Defence and highlights the Ministry's confidence in the company's advanced defence solutions. 

Zen Technologies aims to meet the operational needs of India’s defence forces with its simulator technology. 

This contract reinforces Zen's position as a leader in the defence simulation sector, providing essential maintenance support for critical defence assets.

About Zen Technologies Limited

Zen Technologies Limited is a well-known leader in the industry with more than 30 years of experience in providing advanced Military Training and Anti-Drone solutions. The company focuses on creating high-tech military training simulators, driving simulators, live range equipment, and anti-drone systems. Zen has a dedicated Research and Development (R&D) facility in Hyderabad, recognized by the Ministry of Science and Technology, Government of India, showing its commitment to innovation. The company has applied for over 155 patents, with more than 75 already granted, and has successfully delivered over 1,000 training systems around the world.

Key Takeaway from the ABB and IIT Bombay Partnership

• IIT Bombay partners with ABB India to create an advanced teaching lab for electrical machines and drives, focusing on energy efficiency.
• The lab will provide hands-on training with modern industrial technologies like VFDs and PLCs, emulating real-world energy applications.
• The partnership aims to prepare engineers with knowledge of sustainable, energy-efficient technologies.
• ABB India has previously collaborated with other educational institutes like IIT Roorkee, contributing to smart electricity and technical upskilling projects.

As per a stock exchange filing, this partnership aims to equip students with hands-on training in modern, energy-efficient industrial systems, preparing them for future roles in evolving energy sectors. The lab will feature cutting-edge technologies such as variable-frequency drives (VFDs), programmable logic controllers (PLCs), and systems emulating industrial applications like wind turbines and electric vehicle drivetrains. With ABB India’s support, the lab will promote both technological innovation and environmental sustainability in engineering education.

Sanjeev Arora, President, Motion Business, ABB India said, “We are humbled to partner with the premier education institute IIT Bombay to support the institute in nurturing the next generation of engineers who are well-equipped to address the evolving demands of the industrial sectors with a focus on energy efficiency and conservation. The advanced technologies used in the new lab are innovative and sustainable in nature, ensuring that future engineers prioritize sustainability in their careers while contributing to a more resource-efficient world.” 

ABB India has previously collaborated with various institutions to advance technical education and upskilling initiatives. At IIT Roorkee, the company worked on the construction of a smart electricity distribution network and management system. In partnership with the National Institute of Technical Teachers Training & Research (NITTTR) Chandigarh, ABB set up a pioneering multi-physics digital simulation centre in 2019. Additionally, ABB India has focused on empowering disadvantaged youth, especially girls, through its Community IT and Skill Centre in Faridabad, operated with Udayan Care. Furthermore, ABB signed an MoU to refurbish the government ITI in Bengaluru's Peenya Industrial Area under its CSR initiatives.

Highlighting the importance of this partnership, Prof. Shireesh Kedare, Director of IIT Bombay, said, “IIT Bombay's partnership with ABB India marks a significant step toward empowering our students with advanced technical expertise and a deep understanding of sustainable energy systems. This state-of-the-art lab will provide immersive, hands-on training in cutting-edge technologies that mirror real-world industrial applications. Our goal is to nurture engineers who are not only skilled innovators but also champions of energy efficiency and environmental stewardship, prepared to lead the way in shaping a sustainable and resource-efficient future."

About IIT Bombay  

Founded in 1958, Indian Institute of Technology Bombay is the second IIT established and is globally recognised as a leading institution in engineering education and research. On July 9, 2018, it was designated as an 'Institution of Eminence' by the Ministry of Education. IIT Bombay is known for its exceptional faculty and the high calibre of its students. The institute comprises 17 academic departments, 31 centres and academic facilities, three schools, and three interdisciplinary programs. Over the past 60 years, more than 70,000 engineers and scientists have graduated from IIT Bombay. It is supported by over 715 faculty members, renowned both in India and internationally for their contributions to education and research. As of April 10, 2024, IIT Bombay was ranked 45th globally in Engineering and Technology in the QS World University Rankings by Subject.

About ABB India Limited

ABB is a global leader in electrification and automation technologies, focusing on promoting sustainability and resource efficiency. The company's solutions integrate engineering expertise and software to enhance manufacturing, transportation, energy, and operations. With a history spanning over 140 years, ABB employs more than 105,000 people who are dedicated to driving innovations that propel industrial transformation.

 Key Takeaways from the Order Win 

• Lloyds Engineering Works Limited secured orders totalling ₹44 crores for steel eco-pickling systems and marine loading arms. 
• The company is using cutting-edge technologies, such as Eco-Pickled Steel, which eliminates the need for harmful acids in the pickling process.
• Marine Loading Arms leverage Japanese expertise and are manufactured in India, contributing to cost advantages and wider market reach.

The steel eco-pickling systems alone account for ₹50 crore, while the marine loading arms contribute ₹9.3 crore, showcasing the demand for LEWL’s innovative and technologically advanced products.

Mr Shreekrishna Gupta, Whole-Time Director of Lloyds Engineering Works Limited, said: "These orders underscore our strategy of aligning our product offerings with niche, technologically advanced solutions. The Eco-Pickled Steel (EPS) technology is revolutionary, eliminating the use of environmentally harmful acids in the steel pickling industry, which is both costly and damaging. Given that 15-20% of all steel produced is pickled, this leaves a vast market over the next decade. EPS provides a cheaper setup and operational model and produces higher-quality pickled steel, catering to various end-user markets. In addition, our loading arms leverage Japanese technology and expertise, manufactured in India. This ‘Make in India’ approach will give us a significant competitive advantage in both cost and market reach." 

LEWL had earlier signed agreements with The Material Works Ltd. for EPS Gen 4 technology and TB Global Technologies Ltd. for Marine Loading Arms, solidifying its leadership in these innovative sectors.

About Lloyds Engineering Works Limited (LEWL)

Lloyd Engineering Works Ltd, founded in 1994, is an Indian company that specializes in providing customized process plant equipment. They offer a full range of engineering and infrastructure solutions, including design, manufacturing, fabrication, and installation. Their products cater to industries such as carbon, oil & gas, steel, power plants, and nuclear boilers, along with turnkey projects. Their facilities are certified by various authorities like the Industrial Boiler Regulatory Authority and Petroleum and Explosives Safety Organisation. The company has modern manufacturing units in Murbad, Thane, and is based in Mumbai.

Key Takeaways from Paramount Dye Tec Limited IPO:

• The IPO is offering a fresh issue of up to 24,30,000 equity shares with a price band of ₹111 to ₹117 per share.
• Investors must bid for a minimum of 1,200 equity shares, with bids in multiples of 1,200 thereafter.
• The IPO is open from September 30, 2024, to October 3, 2024. Anchor investor bidding started on September 27, 2024.
• Shares will be listed on the NSE Emerge platform, with Gretex Share Broking Limited as the market maker.

The price band for the IPO is set between ₹111 and ₹117 per share. Interested investors can place a minimum bid for 1,200 equity shares. The IPO opened on September 30, 2024, and will close on October 3, 2024, while the anchor investor period began on September 27, 2024. The shares will be listed on the NSE Emerge platform, with Gretex Share Broking Limited acting as the market maker for the issue.

The allotment process for the IPO will follow this schedule: the finalisation of the basis of allotment is expected on or about October 4, 2024, with the initiation of refunds or unblocking of funds on October 7, 2024. The credit of shares to the respective Demat accounts is also slated for October 7, and the trading of the shares is set to commence on October 8, 2024. Investors are required to bid in multiples of 1,200 shares after the minimum bid.

The IPO reservation is distributed as follows: Qualified Institutional Buyers (QIBs) will receive up to 50% of the net issue, NonInstitutional Investors (NIIs) will be allocated at least 15%, and Retail Individual Bidders will get at least 35%. A total of 1,22,400 equity shares are reserved for the market maker. This structure ensures a balanced allocation across various investor categories, making the IPO an attractive opportunity for a wide range of market participants.

About Paramount Dye Tec Limited

Paramount Dye Tec Limited, founded in January 2014, specialises in producing high-quality yarns by recycling waste synthetic fibre. Catering to the B2B textile industry, the company offers a wide range of products, including acrylic, polyester, nylon, wool, and blend yarns. With two manufacturing facilities in Punjab, Paramount Dye Tec is ISO 9001:2015 and GMP certified, ensuring a strong focus on quality and durability in its offerings.