Zensar Technologies Ltd. — Interim / Quarterly Report 2025

Jan 22, 2026

January 22, 2026

BSE Limited

Corporate Service Department, 01st Floor, P. J. Towers, Dalal Street, Mumbai 400 001

The National Stock Exchange of India Ltd. Exchange Plaza, 3rd floor, Plot No. C/1, 'G' block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051

Scrip Code: 504067

Symbol: ZENSARTECH

Sub: Outcome of Board Meeting held on January 22, 2026

Dear Sir/Madam,

This is to inform you that the Meeting of Board of Directors (Board) of the Company held today, which commenced at 05:00 PM (IST) and concluded at 09:00 PM (IST), inter-alia, unanimously approved/consented to/took on record, the following:

1. Unaudited Financial Results:

Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended December 31, 2025, together with the respective Limited Review Report(s) issued by the Statutory Auditors of the Company are enclosed herewith.

2. Interim Dividend:

The Board of Directors declared an interim dividend of INR 2.40 (i.e. 120%) per Equity Share of INR 2.00 each of the Company and the interim dividend shall be paid to the Members on or before Tuesday, February 17, 2026, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday, January 29, 2026, which is the Record Date fixed for the purpose.

This is for your information.

Thanking you, Yours sincerely,

For Zensar Technologies Limited

Anand Daga Company Secretary ANAND CHAMPALAL DAGA Digitally signed by ANAND CHAMPALAL DAGA Date: 2026.01.22 21:14:24 +05'30'

Encl.: As above

www.zensar.com investor@zensar.com Zensar Technologies Limited, Zensar Knowledge Park, Plot No. 4, MIDC Kharadi, Off Nagar Road, Pune 411014

$S$ R B C & CO LLP Chartered Accountants

Ground Floor Panchshil Tech Park, Yerwada (Near Don Bosco School) Pune - 411 006, India Tel: +91 20 6603 6000

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Zensar Technologies Limited

• 1. We have reviewed the accompanying statement of unaudited standalone financial results of Zensar Technologies Limited (the "Company") for the quarter ended December 31, 2025 and year to date from April 01, 2025 to December 31, 2025 (the "Statement") attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• $2.$ The Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review.
• $\overline{3}$ . We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For SRBC & CQ LLP Chartered Accountants ICAI Firm registration number 324982E/E300003

$\overline{c}$ $\delta$ per Tridevlal Khandelwal Partner Membership No.: 501160 UDIN: $2650160$ MUBVJU979 ACCOL Place: Pune Date: January 22, 2026

	Zensar Technologies Limited Registered Office : Zensar Knowledge Park, Kharadi, Plot # 4 , MIDC, Off Nagar Road, Pune - 411014, India. CIN: L72200PN1963PLC012621 Statement of Standalone Unaudited Financial Results for the Quarter and Nine Months Ended December 31, 2025
							₹ in Million except earnings per share
			Quarter Ended				Year Ended
	Particulars	December 31, 2025	September 30, 2025 December 31, 2024		Nine Months Ended December 31, 2025 December 31, 2024		March 31, 2025
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	1 Revenue from operations	7,014	6,734	5,592	19,970	16,450	22,261
	2 Other income (net)	723	619	802	2,292	2,442	3,031
3	Total Income	7,737	7,353	6,394	22,262	18,892	25,292
4	Expenses
	a. Purchase of traded goods	2	1	-	7	-	-
	b. Employee benefits expense	4,347	4,421	3,810	12,889	11,168	14,969
	c. Subcontracting costs	531	387	119	1,246	348	548
	d. Finance costs e. Depreciation and amortisation expense	5 76	19 118	20 99	43 294	78 386	110 488
	f. Other expenses	446	457	479	1,375	1,397	1,832
	Total expenses	5,407	5,403	4,527	15,854	13,377	17,947
5	Profit before exceptional item and tax (3-4)	2,330	1,950	1,867	6,408	5,515	7,345
	6 Exceptional item
	- Statutory impact of new Labour Codes (refer note 5)	239	-	-	239	-	-
	7 Profit before tax (5-6)	2,091	1,950	1,867	6,169	5,515	7,345
8	Tax expense
	a. Current tax	426	412	306	1,220	969	1,248
	b. Deferred tax	43	10	29	81	65	149
9	Net profit after tax for the period (7-8)	1,622	1,528	1,532	4,868	4,481	5,948
10	Other comprehensive income/(loss), net of income tax
	A. Items that will not be reclassified to profit or loss	45	(20)	13	32	(11)	3
	B. Items that will be reclassified to profit or loss	4	-	380	4	(96)	(53)
	Total other comprehensive income/(loss), net of income tax	49	(20)	393	36	(107)	(50)
11	Total comprehensive income for the period (9+10)	1,671	1,508	1,925	4,904	4,374	5,898
12	Paid-up equity share capital (Face value ₹ 2 each)	453	455	454	453	454	454
13	Other equity excluding revaluation reserves as per balance sheet						30,527
14	Earnings per share (Face value ₹ 2 each) (not annualised):
	a) Basic	7.14	6.73	6.76	21.43	19.76	26.22
	b) Diluted	7.04	6.65	6.70	21.18	19.62	26.03

Notes :

1 These unaudited results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting"("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under as amended from time to time. The above financial results were reviewed and recommended by the Audit Committee and taken on record by the Board of Directors at their meetings held on January 22, 2026.

2 The Company publishes these standalone financial results along with the consolidated financial results. In accordance with Ind AS 108, Operating Segments, the Company has disclosed the segment information in the consolidated financial results.

3 The Board of Directors at its meeting held on January 22, 2026 declared an interim dividend of ₹ 2.40 per equity share of the Company for the Financial Year 2025-26. The Record Date for the aforesaid interim dividend will be January 29, 2026.

4 The Company has also created Zensar Employees Welfare Trust (the 'ESOP Trust') for providing share-based payments, as a vehicle for distributing shares to employees under Employee Stock Option Scheme 2025. The Company has treated ESOP Trust as its extension. As at December 31, 2025, ESOP Trust has acquired 781,257 Equity shares from open market. Shares held by the ESOP Trust are treated as Treasury Shares. The paid-up Equity Share Capital has been disclosed net of Treasury Shares and while computing the basic and diluted earnings per share, the weighted average number of equity shares held by trust have been reduced.

5 On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Company has assessed and disclosed the incremental impact of these changes on the basis of the best information available and guidance provided by the Institute of Chartered Accountants of India. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Company has presented such incremental impact as "Statutory impact of new Labour Codes" under "Exceptional Items" in the interim standalone statement of profit and loss for the period ended December 31, 2025. The incremental impact on provisions for employee benefits expenses of ₹ 239 Million primarily arises due to change in wage definition. The Company continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect as and when such clarifications are issued/rules are notified.

Date: January 22, 2026 DIN:07559939

Manish Tandon

SRBC&COLLP Chartered Accountants

Ground Floor Panchshil Tech Park, Yerwada (Near Don Bosco School) Pune - 411 006, India Tel: +91 20 6603 6000

Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

Review Report to The Board of Directors Zensar Technologies Limited

• We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Zensar Technologies Limited (the "Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), for the quarter ended December 31, 2025 and year to date from April 01, 2025 to December 31, 2025 (the "Statement") attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").
• $2.$ The Holding Company's Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company's Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review
• We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) $\overline{3}$ 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable.

• The Statement includes the results of the entities as mentioned in Annexure I. $\overline{4}$ .
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS') specified under Section 133 of the Companies Act. 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For SRBC & COLLP Chartered Accountants ICAI Firm registration number: 324982E/E300003

per Tridevial Khandelwal

Partner Membership No.: 501160 UDIN: $26501160$ VWY KXW5919 Place: Pune Date: January 22, 2026

SRBC&COLLP

Chartered Accountants

Annexure I

Independent Auditor's Review Report on the Quarterly Unaudited Consolidated Financial Results of the Company

List of entities whose financial results are included in the Statement along with Holding Company

Sr No.	Name of entity
1.	Zensar Technologies Inc, USA
$\overline{2}$	Zensar Technologies (UK) Limited, United Kingdom
$\overline{3}$ .	Zensar (Africa) Holdings Proprietary Limited, South Africa
4.	Zensar (South Africa) Proprietary Limited, South Africa
5.	Zensar Technologies (Singapore) Pte Limited, Singapore
6.	Foolproof Limited, United Kingdom
7.	Keystone Logic Mexico, S. DE R.L. DE C.V, Mexico
8.	Zensar Technologies Gmbh, Germany
9.	Zensar Technologies (Canada) Inc., Canada
10.	Zensar Information Technologies B.V., Netherlands
11.	Zensar Colombia S A S, Colombia
12.	M3BI LLC, USA
13.	M3BI India Private Limited, India
14.	BridgeView Life Sciences LLC, USA
15.	Zensar Technologies doo Beograd, Serbia (incorporated on November 5, 2025)

	Zensar Technologies Limited Registered Office : Zensar Knowledge Park, Kharadi, Plot # 4 , MIDC, Off Nagar Road, Pune - 411014, India. CIN: L72200PN1963PLC012621 Statement of Consolidated Unaudited Financial Results for the Quarter and Nine Months Ended December 31, 2025
	₹ in Million except earnings per share
	Quarter Ended Nine Months Ended Year Ended
	Particulars	December 31, 2025	September 30, 2025	December 31, 2024	December 31, 2025	December 31, 2024	March 31, 2025
		Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
	1 Revenue from operations	14,307	14,213	13,256	42,370	39,217	52,806
	2 Other income (net)	631	491	307	1,689	1,142	1,602
3	Total Income	14,938	14,704	13,563	44,059	40,359	54,408
4	Expenses
	a. Purchase of traded goods	78	119	168	275	383	530
	b. Employee benefits expense	8,953	9,252	8,463	26,966	25,051	33,904
	c. Subcontracting costs	1,862	1,839	1,597	5,555	4,860	6,482
	d. Finance costs	23	37	37	96	124	173
	e. Depreciation and amortisation expense f. Other expenses	203 915	252 803	237 958	686 2,769	781 2,881	1,019 3,723
	Total expenses	12,034	12,302	11,460	36,347	34,080	45,831
5	Profit before exceptional item and tax (3-4)	2,904	2,402	2,103	7,712	6,279	8,577
6	Exceptional item
	- Statutory impact of new Labour Codes (refer note 5)	254	-	-	254	-	-
7	Profit before tax (5-6)	2,650	2,402	2,103	7,458	6,279	8,577
8	Tax expense
	a. Current tax	594	549	496	1,705	1,623	2,027
	b. Deferred tax	58	31	9	113	(78)	52
9	Net profit after tax for the period (7-8)	1,998	1,822	1,598	5,640	4,734	6,498
10	Net profit attributable to:
	- Owners	1,998	1,822	1,598	5,640	4,734	6,498
11	Other comprehensive income/(loss), net of income tax
	A. Items that will not be reclassified to profit or loss	46	(20)	14	34	(10)	6
	B. Items that will be reclassified to profit or loss	191	354	319	783	145	297
	Total other comprehensive income/(loss), net of income tax	237	334	333	817	135	303
12	Total comprehensive income for the period (9+11)	2,235	2,156	1,931	6,457	4,869	6,801
13	Total comprehensive income attributable to: - Owners	2,235	2,156	1,931	6,457	4,869	6,801
14	Paid-up equity share capital (Face value ₹ 2 each)	453	455	454	453	454	454
15	Other equity excluding revaluation reserves as per balance sheet						40,243
16	Earnings per share (Face value ₹ 2 each) (not annualised):
	a) Basic	8.80	8.02	7.04	24.83	20.88	28.65
	b) Diluted	8.67	7.93	6.98	24.53	20.73	28.43

Year Ended December 31, 2025 September 30, 2025 December 31, 2024 December 31, 2025 December 31, 2024 March 31, 2025 Unaudited Unaudited Unaudited Unaudited Unaudited Audited 11,061 11,124 10,537 33,114 31,487 42,265 3,152 3,183 2,719 9,256 7,730 10,541 14,213 14,307 13,256 42,370 39,217 52,806 1,872 2,109 1,677 5,810 4,917 6,668 637 679 534 1,905 1,361 1,910 2,509 2,788 2,211 7,715 6,278 8,578 37 23 37 96 124 173 70 115 71 161 (125) (172) 2,402 2,650 2,103 7,458 6,279 8,577 Segmental reporting for the Quarter and Nine Months ended December 31, 2025 Cloud Infrastructure and Security Segment revenue Segment results Digital and Application Services Revenue From Operations Less: Finance costs Cloud Infrastructure and Security Segment results Profit before tax Less: Unallocable expenditure net of unallocable income Segment results Digital and Application Services Quarter Ended Nine Months Ended

Segment assets & liabilities		December 31, 2025	September 30, 2025	December 31, 2024	March 31, 2025
		Unaudited	Unaudited	Unaudited	Audited
1	Segment assets Trade receivables
	Digital and Application Services	6,081	6,075	5,746	6,384
	Cloud Infrastructure and Security	1,817	1,903	1,672	1,517
	Total trade receivables	7,898	7,978	7,418	7,901
	Unbilled revenue
	Digital and Application Services	3,148	3,640	2,827	3,111
	Cloud Infrastructure and Security	906	976	789	868
	Total unbilled revenue	4,054	4,616	3,616	3,979
	Goodwill
	Digital and Application Services	7,900	7,820	7,524	7,539
	Cloud Infrastructure and Security	1,688	1,667	1,608	1,605
	Total goodwill	9,588	9,487	9,132	9,144
	Unallocable assets	34,593	32,042	29,638	30,705
	TOTAL ASSETS	56,133	54,123	49,804	51,729
2	Segment liabilities Unearned Revenue
	Digital and Application Services	146	291	289	303
	Cloud Infrastructure and Security	121	235	220	137
	Total unearned revenue	267	526	509	440
	Unallocable liabilities	11,100	10,807	10,233	10,592
	TOTAL LIABILITIES	11,367	11,333	10,742	11,032

Notes :

1 These unaudited results have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 "Interim Financial Reporting"("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued there under as amended from time to time. The above financial results were reviewed and recommended by the Audit Committee and taken on record by the Board of Directors at their meetings held on January 22, 2026.

2 Standalone Financial Information

Quarter Ended			Nine Months Ended		Year Ended
December 31, 2025	September 30, 2025	December 31, 2024	December 31, 2025	December 31, 2024	March 31, 2025
Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Audited
7,014	6,734	5,592	19,970	16,450	22,261
2,330	1,950	1,867	6,408	5,515	7,345
2,091	1,950	1,867	6,169	5,515	7,345
1,622	1,528	1,532	4,868	4,481	5,948

Results of Zensar Technologies Limited on a standalone basis are hosted on its website www.zensar.com.

3 The Board of Directors at its meeting held on January 22, 2026 declared an interim dividend of ₹ 2.40 per equity share of the Company for the Financial Year 2025-26. The Record Date for the aforesaid interim dividend will be January 29, 2026.

4 The Company has also created Zensar Employees Welfare Trust (the 'ESOP Trust') for providing share-based payments, as a vehicle for distributing shares to employees under Employee Stock Option Scheme 2025. The Company has treated ESOP Trust as its extension. As at December 31, 2025, ESOP Trust has acquired 781,257 Equity shares from open market. Shares held by the ESOP Trust are treated as Treasury Shares. The paid-up Equity Share Capital has been disclosed net of Treasury Shares and while computing the basic and diluted earnings per share, the weighted average number of equity shares held by trust have been reduced.

5 On November 21, 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Group has assessed and disclosed the incremental impact of these changes on the basis of the best information available and guidance provided by the Institute of Chartered Accountants of India. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Group has presented such incremental impact as "Statutory impact of new Labour Codes" under "Exceptional Items" in the interim consolidated statement of profit and loss for the period ended December 31, 2025. The incremental impact on provisions for employee benefits expenses of ₹ 254 Million primarily arises due to change in wage definition. The Group continues to monitor the finalisation of Central / State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriate accounting effect as and when such clarifications are issued/rules are notified.

For and on behalf of the Board

Manish Tandon

Mumbai CEO and Managing Director Date: January 22, 2026 DIN:07559939