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Paras Defence Space Tech

Paras Defence and Space Technologies Ltd

PARAS NSE
₹1,265.50 +54.50 (+4.50%)
P/E
107.98
View as Markdown
MCP
Close 4 Nov 2026 ₹1,265.50 +595.40 +88.9% 1Y
Start ₹670.10

Key Fundamentals

MicrocapAerospace & DefenseCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
17.20%
Debt to Equity
0.04
EPS (TTM)
₹11.72
Book Value
₹90.42
Market Cap
—
P/E (TTM)
107.98
P/B
14.00
ROE
12.40%
Dividend Yield
0.08%
EBITDA
₹136 Cr
52W High
₹1,585.00
52W Low
₹580.50
Day Range
₹1,192.30 – ₹1,273.00
Volume
8,11,472

Peer Comparison

Industrials › Aerospace & Defense › Engineering › Aerospace & Defense

Paras Defence Space Tech peer comparison
Hindustan Aeronautics
₹5,079.1036.44₹3,35,230 Cr8.280.91%24.00%32.00%₹33,785 Cr₹9,322 Cr
Bharat Electronics
₹398.0045.49₹2,84,935 Cr11.080.66%27.40%36.40%₹30,253 Cr₹6,401 Cr
Bharat Dynamics
₹1,075.0075.65₹37,987 Cr9.290.48%10.20%13.90%₹2,766 Cr₹521 Cr
Garden Reach Shipbuilders
₹2,143.4030.66₹24,395 Cr9.350.92%31.60%42.80%₹7,507 Cr₹801 Cr
Data Patterns
₹4,078.0085.21₹22,179 Cr13.150.25%15.20%21.90%₹941 Cr₹267 Cr
Sigma Advanced System
₹938.70103.38₹17,375 Cr18.900.00%−4.03%11.70%₹861 Cr₹166 Cr
Aequs
₹219.59—₹14,236 Cr10.570.00%−9.96%1.69%₹1,370 Cr−₹171 Cr
Paras Defence Space Tech (this company)
₹1,265.50107.98₹9,916 Cr14.000.08%12.40%17.20%₹511 Cr₹96 Cr
Median 8 companies₹1,170.2575.65₹23,287 Cr10.830.37%13.80%19.55%₹2,068 Cr₹394 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

52 Average

Data confidence 100/100

Category scores

Quality
45
Average
Returns, margins, earnings quality 22% weight
Valuation
18
Poor
Cheap vs sector & own history 24% weight
Growth
84
Strong
Sales & profit trajectory 9% weight
Financial Health
85
Strong
Solvency, leverage, coverage 9% weight
Momentum
77
Strong
Trend strength, vol-adjusted 12% weight
Ownership
52
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 40.0% CAGR over last 5 years

Weaknesses

4
  • Stock is trading at 13.6 times its book value
  • Company has a low return on equity of 10.8% over last 3 years.
  • Company has high debtors of 278 days.
  • Promoter holding has decreased over last 3 years: -5.74%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBullish577
OscillatorsNeutral171
Moving AveragesStrong Bullish406

Key readings

RSI (14)
48.42
Neutral
MACD (12,26,9)
−21.42
Bullish
SMA (50)
1,340.10
Bearish
SMA (200)
1,017.88
Bullish

As of

Analyst Rating

Based on 1 analysts
SELL100%

0 of 1 analyst rates Buy, 0 Hold, 1 Sell.

As of

BUY
0
0%
HOLD
0
0%
SELL
1
100%

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
5Y+27.24%
3Y+29.04%
1Y+30.68%
TTM+36.63%

Net profit

Net profit growth by window
5Y+40.95%
3Y+35.22%
1Y+45.90%
TTM+54.84%

Operating cash flow

Operating cash flow growth by window
5Y+44.27%
3Y−18.39%
1Y−44.44%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y−5.19 pp
3Y−0.55 pp
1Y−1.82 pp
TTM+0.24 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2019₹154 Cr
Mar 2020₹147 Cr
Mar 2021₹143 Cr
Mar 2022₹183 Cr
Mar 2023₹222 Cr
Mar 2024₹254 Cr
Mar 2025₹365 Cr
Mar 2026₹477 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2019₹19.00 Cr
Mar 2020₹20.00 Cr
Mar 2021₹16.00 Cr
Mar 2022₹27.00 Cr
Mar 2023₹36.00 Cr
Mar 2024₹30.00 Cr
Mar 2025₹61.00 Cr
Mar 2026₹89.00 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹162 Cr +18.4% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk high

Paras Defence and Space Technologies is a nearly debt-free small-cap company (market cap ₹9,988 Cr) operating in India's aerospace and defense sector, trading at a PE of 109.2x and 14.3x book value. The company has delivered 34% compounded profit CAGR over 3 years and 29% sales CAGR over the same period, but carries high debtor days of 278 and a relatively modest ROE of 11% over 3 years.

Bull Case 8
  • Company is almost debt-free, providing financial flexibility and low interest burden in a capital-intensive defense sector
  • Compounded profit growth of 41% CAGR over the last 5 years demonstrates strong earnings momentum
  • Revenue growth of 29% CAGR over 3 years and 27% over 5 years shows sustained top-line expansion
  • TTM sales growth of 31% and TTM profit growth of 38% indicate continued acceleration in recent quarters
  • ROE has improved from 10% (5-year average) to 13% in the last year, showing improving capital efficiency
  • Operating in India's aerospace and defense sector which benefits from government's push for indigenous defense manufacturing and rising defense budget (₹6.2 lakh Cr in FY25)
  • Stock price CAGR of 83% over 1 year and 53% over 3 years reflects strong market confidence in the growth trajectory
  • Expected to deliver a good upcoming quarter based on order pipeline visibility
Bear Case 7
  • Price-to-book of 14.29x (13.5x book value) implies heavy premium over tangible asset base
  • Debtor days of 278 indicate severe working capital strain and delayed collections, typical risk in defense contracting
  • 3-year average ROE of only 11% is modest given the rich valuation multiples being paid by investors
  • Promoter holding has decreased by 5.74% over the last 3 years, signaling potential dilution or reduced insider confidence
  • Market cap of ₹9,988 Cr on what appears to be limited absolute profit base (implied EPS yields below 1% at 109x PE) raises sustainability concerns
  • Dividend yield of just 0.04% offers virtually no income return to shareholders
  • Limited 10-year operating history data available makes long-term consistency difficult to assess

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

94d ago

TL;DR: Paras Defence is making aggressive moves to diversify beyond its core aerospace and defense business, with a massive Rs 6,200 Cr semiconductor OSAT investment signaling long-term ambitions in chip packaging. Leadership additions in business development suggest the company is gearing up for accelerated order capture. No visible headwinds in recent news flow. The trend is clearly expansionary, though execution on the large OSAT capex will be the key monitorable over coming quarters.

Positives 2
  • Rs 6,200 Cr OSAT plant planned Jul 22

    Paras Defence subsidiary signed MoU with MPSeDC to set up a greenfield OSAT (Outsourced Semiconductor Assembly and Test) facility in Madhya Pradesh with an investment of Rs 6,200 Crores, signaling major expansion into semiconductor manufacturing.

  • New VP Business Development hired Jul 24

    Anushka Munjal Shah appointed as Vice President-Business Development effective July 24, 2026, approved by the Board on NRC recommendation, strengthening the leadership team for growth initiatives.

Quarterly Results

₹ Cr
PARAS quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
48
61
64
80
84
87
86
108
93
106
106
171
128
151
Expenses
38
46
52
67
59
64
64
80
71
76
80
129
96
107
Operating Profit
11
16
12
12
24
23
22
28
22
30
26
43
32
45
OPM %
22%
25%
19%
15%
29%
26%
26%
26%
23%
28%
25%
25%
25%
29%
Other Income
1
1
1
5.48
1
2
2
4
2
2
2
9.05
2
2
Interest
1
1
2
2
2
3
1
2
1
1
1
2
1
1
Depreciation
3
3
3
3
4
4
4
4
4
4
4
4
4
5
PBT
8
12
8
12
20
18
19
27
19
27
23
48
28
41
Tax %
26%
28%
30%
21%
28%
30%
28%
22%
27%
27%
27%
20%
26%
25%
Net Profit
6
9
6
10
14
13
14
21
14
19
17
39
21
31
EPS (₹)
0.77
1.21
0.85
1.28
1.9
1.78
1.87
2.45
1.84
2.56
2.26
4.27
2.63
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
PARAS profit and loss, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
154
147
143
183
222
254
365
477
511
Expenses
111
107
99
130
165
200
265
354
381
Operating Profit
43
40
44
52
58
53
100
122
130
OPM %
28%
27%
31%
29%
26%
21%
27%
26%
26%
Other Income
3
2
1
3
8
8
8
19
18
Interest
10
10
13
8
8
8
9
4.66
5
Depreciation
9
10
10
10
11
13
15
17
17
PBT
27
22
23
37
47
40
84
118
126
Tax %
29%
10%
30%
26%
23%
26%
26%
24%
—
Net Profit
19
20
16
27
36
30
61
89
96
EPS (₹)
3.33
3.46
2.63
3.47
4.62
4.11
7.87
10.93
11.72
Div. Payout %
0%
0%
0%
0%
0%
0%
6%
5%
—

Balance Sheet

₹ Cr
PARAS balance sheet, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
6
28
30
39
39
39
40
40
Reserves
147
144
177
339
374
406
600
685
Borrowings
85
103
106
31
15
66
24
27
Other Liabilities
92
66
50
48
93
129
188
212
Total Liabilities
330
342
363
458
520
640
852
964
Fixed Assets
168
158
157
154
170
186
190
191
CWIP
3
5
1
0
5
4
11
16
Investments
0
0
1
4
12
22
28
33
Other Assets
159
180
204
300
335
427
623
725
Total Assets
330
342
363
458
520
640
852
964

Cash Flow

₹ Cr
PARAS cash flow, annual, ₹ crore
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
−3
4
12
46
−46
45
25
Investing
—
−5
−6
−77
10
−2
−87
−17
Financing
—
9
5
63
−41
33
74
−17
Net Cash Flow
—
1
3
−2
15
−14
31
−9
Free Cash Flow
—
−7
−1
6
22
−71
10
−10
CFO/EBITDA
—
11
25
44
96
−63
63
48

Ratios

PARAS financial ratios, annual
Particulars Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
197
242
242
246
246
285
295
278
Inventory Days
281
303
418
297
324
455
323
244
Days Payable
232
136
86
68
90
185
117
88
Cash Conversion Cycle
246
410
573
475
479
555
501
435
Working Capital Days
109
162
223
330
315
315
297
273
ROCE %
—
13%
12%
12%
13%
10%
16%
17%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Paras Defence Space Tech insights

61 extracted metrics across FY18–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 53.20%
  • Public 28.56%
  • FIIs 7.48%
  • Others 6.13%
  • DIIs 4.63%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

  • Concall · Feb 2026
    PPT
  • Concall · Jun 2025
    PPT
  • Concall · Apr 2025
    PPT
  • Concall · Jun 2024
    PPT
  • Concall · Sep 2023
    PPT

Frequently Asked Questions about Paras Defence Space Tech

What does Paras Defence and Space Technologies Ltd do?
Paras Defence and Space Technologies (PDST) is an Private sector company primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions.
Where is Paras Defence and Space Technologies Ltd (PARAS) listed?
Paras Defence and Space Technologies Ltd trades as PARAS on the NSE and under code 543367 on the BSE.
Which sector does Paras Defence and Space Technologies Ltd belong to?
Paras Defence and Space Technologies Ltd is classified under the Aerospace & Defense sector, in the Engineering industry.
What is the PE ratio of Paras Defence and Space Technologies Ltd?
Paras Defence and Space Technologies Ltd trades at a PE ratio of 107.98 as of 4 Nov 2026, on earnings per share of ₹11.72, against a book value of ₹90.42 per share.
What is the 52-week high and low of Paras Defence and Space Technologies Ltd?
Over the last 52 weeks Paras Defence and Space Technologies Ltd has traded between ₹580.5 and ₹1,585 as of 4 Nov 2026.
Does Paras Defence and Space Technologies Ltd pay dividends?
Paras Defence and Space Technologies Ltd has a dividend yield of 0.08%.
What is the Return on Equity (ROE) of Paras Defence and Space Technologies Ltd?
Paras Defence and Space Technologies Ltd reported a return on equity of 12.40%. Its debt-to-equity ratio is 0.04.

Company Information

Paras Defence and Space Technologies (PDST) is an Private sector company primarily engaged in the designing, developing, manufacturing, and testing of a variety of 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.

Website parasdefence.com
Listed 1 Oct 2021
Face Value ₹5

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