Shares of Zen Technologies gained three percent on Thursday after the leading military training and anti-drone solutions provider bagged an order worth Rs 72.29 crore from the Ministry of Defence.

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"This is one more step towards implementing the framework on simulators that the government released in September 2021. We expect such continuing implementation to lead to better training outcomes, cost savings, and sustainability of the environment, " said Ashok Atluri, chairman and managing director of Zen Technologies.

The shares of Zen Technologies were trading 2.87 percent higher at Rs 511 apiece on the BSE at 9:24 AM. Zen Technologies stock has seen a significant rise in value in the last few years. The stock has gained more than 123 percent in the past three months and over 352 percent this year so far. Shares have gained nearly 300 percent in the last one-year period.

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The company specialises in manufacturing land-based military training simulators, driving simulators, live range equipment, and anti-drone systems. It has filed for over 130 patents, of which over 50 have been granted. The company has shipped more than 1,000 training systems across the world.

Zen Technologies has been investing in research and development.

In a recent interview with CNBC-TV18 in June, the company's CMD Atluri expressed optimism and discussed Zen Technologies' anticipation of securing more order wins in the current financial year.

He revealed that the company expects about 20 percent of its order book for FY24 to come from exports.

In May, Atluri told CNBC-TV 18 that Zen Technologies' current order book stood at a whopping Rs 470 crore, and the company is expected to generate revenue of Rs 400 crore in FY24.

He also shared that the company is poised to achieve revenue of Rs 1,000 crore in the next five years.

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(Edited by : Asmita Pant)