Paras Defence’s Subsidiary Secured Major Order: Share Price Rose Over 5%

On August 14, 2024, Paras Defence and Space Technologies Limited, one of the leading manufacturers of defence and space engineering products, announced that its associate company, Controp-Paras Technologies Private Limited, has received an order from Larsen and Toubro Limited worth ~₹305 crore (plus taxes).

As per the terms of the contract, Controp-Paras Technologies Private Limited will be responsible for manufacturing and supply of 244 nos. of Sight – 25HD EO (Electro-Optics) System along with Extended Warranty Charges and Integrated Logistics Support (ILS) Package for their CIWS Program. The contract is likely to be completed within 47 months.

Future Opportunities

With respect to space programs, the company has several business opportunities, which include completing optical missions for space, high-resolution hyperspectral cameras for ISRO, sub-meter resolution optical cameras, optical payloads for resource management, etc. For FY2025 and FY2026, the company is seeking to increase its revenue by 20% to 30% and is planning to maintain or slightly increase its bottom line against the previous years.

About Paras Defence and Space Technologies (PDST) 

Paras Defence and Space Technologies (PDST) is primarily engaged in the designing, developing, manufacturing, and testing of various defence and space engineering products and solutions. The company caters to four major segments – Defence & Space Optics, Defence Electronics, Heavy Engineering and Electromagnetic Pulse Protection Solutions.

On August 16, 2024, the shares of Paras Defence opened at ₹1,204.50 and touched the day high of ₹1,207.40 at 09:30 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.