Zen Technologies Ltd., which received a patent for its Infantry Virtual Training Simulation System or IVTSS, on Monday, expects to receive orders related to it from the next financial year, said Ashok Atluri, the company's chairman and managing director.
IVTSS is an advanced, state-of-the-art simulation system developed to provide military personnel with a "highly realistic and immersive virtual training environment," Zen Technologies said in a release.
Atluri, while speaking to NDTV Profit, said the target addressable market for the product runs into "thousands of crores." This product is for the armed forces—for the infantry and artillery—and will be also useful for the navy, he said, adding that the "customer base is identified."
"We identify the need and map the market. This aligns with our view of taking soldiers out of harm's way," he said.
Atluri, however, noted that there are no guaranteed orders so far. "But we expect to start receiving orders and revenue related to this from the next fiscal."
Zen Technologies To Sustain 50% CAGR For Next Three Years: Chairman Ashok Atluri
Zen Technologies, which has emerged as a key supplier of anti-drone systems, is upbeat about its revenue from exports. "This year, we have recorded a good amount of export revenues. Out of the Rs 1,150-crore orderbook, Rs 400-crore plus pertains to exports," Atluri said, claiming that the momentum would continue in the next fiscal as well.
On being asked whether Zen Technologies could be unveiling more new products in the ongoing fiscal, Atluri said it was unlikely. "Organically, we are improving our stimulators to the next level, and our anti-drone systems are a never-ending evolving product…we expect a lot of upgradations," he noted.
Shares of Zen Technologies closed 0.2% lower at Rs 675.35 apiece on the NSE, compared with a 1.41% decline in the benchmark Nifty 50.
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