Paras Defence and Space Technologies Limited
₹1,249.85-₹79.70 (-6.0%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹5,465 Cr
- P/E
- 76.7x
- EV / EBITDA
- 86.0x
- Revenue
- ₹334 Cr
- Net margin
- 14.7%
- ROCE
- 11.2%
Price chart
Technical chartScreen technicals →+76.4% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -4.9%
- 3M
- +3.1%
- 6M
- +57.5%
- 1Y
- +76.4%
- 5Y
- +206.7%
52-week range
Day change -₹79.70 (-6.0%) from ₹1,330 to ₹1,250 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in PARAS, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Operating margin of 23.3% exceeds Technology median (19.0%)
Concerns1
- Low return on equity of 7.6%
Rule-based from financial data. Not advice.
About the company
Paras Defence and Space Technologies Limited designs, develops, manufactures, and tests defense and space engineering products and solutions in India and internationally. The company offers rugged networking and communication, rugged display and computing, and rugged command and control systems; mechanical products, including flow formed tubes; and avionic suites, as well as automated test equipment.
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Paras Defence and Space Technologies Limited designs, develops, manufactures, and tests defense and space engineering products and solutions in India and internationally. The company offers rugged networking and communication, rugged display and computing, and rugged command and control systems; mechanical products, including flow formed tubes; and avionic suites, as well as automated test equipment. It also provides diffractive gratings, Zerodur and metal mirrors, optical domes, gyro blocks, multifold and IR lenses, reflectors and coatings, deployable space antennas, CFRP structures for space applications, lens barrels, and ultra-precision manufacturing products; and rugged wired cabinets, shielded doors, honey comb air vents/filters, command and control console/systems, naval electronic time fuse, acoustic and magnetic sensing products, naval chart, other software modules, turnkey indigo simulator systems, transducer positioning systems and platforms, submarine winches, and titanium assemblies. In addition, the company provides high performance embedded computing systems, substitution sub-systems, tank imaging components and sub-assemblies, turret stabilization systems, tri-pods and quadri-pods, ARRV winch systems, and red dot reflex sight products; and heavy duty antenna mechanical structures, rugged COTS systems, data/video/image processing systems, rugged VME/VPX platforms, and active array radar cooling assemblies, as well as software development and system integration services. Additionally, it offers Electro-Magnetic Pulse shielded rooms and control centers, racks and cabinets, shielded doors, anechoic shielded chambers, EMP filters, shielded air vents and windows, EMP hardened products, and turnkey EMP projects. The company was formerly known as Paras Flowform Engineering Limited and changed its name to Paras Defence and Space Technologies Limited. Paras Defence and Space Technologies Limited was incorporated in 2009 and is based in Navi Mumbai, India
- Sector
- Technology
- Shares outstanding
- 8.1 Cr shares
- ISIN
- INE045601023
- BSE code
- 543367
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹5,465 Cr
- P/E
- 76.7x
- P/B
- 8.1x
- EV / EBITDA
- 86.0x
- EV / Sales
- 23.4x
- P/S
- 23.6x
- Earnings yield
- 1.3%
- 52-week high
- ₹1,527.65
- 52-week low
- ₹585.00
Profitability
- Operating margin
- 23.3%
- Net margin
- 14.7%
- EBITDA margin
- 27.2%
- ROE
- 7.6%
- ROCE
- 11.2%
- ROA
- 5.6%
- Dividend payout
- 0.0%
- Tax rate
- 23.0%
- Other income, % of PBT
- 20.0%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹334 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 44.0%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 9.6%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹63.0 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -1.6%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 91.2%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 11.2%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹17.0 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -134.7%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹28.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.9%
Solvency and efficiency
- Current ratio
- 3.42
- Debt / Equity
- 0.08
- Debt / Assets
- 0.06
- Debt / EBITDA
- 0.56
- Interest coverage
- 9.00
- Financial leverage
- 1.36
- CFO / Net profit
- -0.50
- Cash / Market cap
- 7.3%
- Cash per share
- ₹49.62
- Asset turnover
- 0.38
- Fixed asset turnover
- 1.34
- Capital intensity
- 0.75
- Debtor days
- 283 days
- Inventory turnover
- 0.77
- Cash conversion cycle
- 563 days
Where the revenue went
Some FY2025 lines are not reported, so the ones that are appear as a table.
| Line | FY2025 |
|---|---|
| Sales | ₹334 Cr |
| Expenses | ₹237 Cr |
| Operating profit | ₹96 Cr |
| Other income | ₹12 Cr |
| Interest | ₹8 Cr |
| Depreciation | ₹14 Cr |
| Profit before tax | ₹87 Cr |
| Tax and other | ₹22 Cr |
| Net profit | ₹65 Cr |
Revenue and net profit
Revenue grew 44.0% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹133 Cr | ₹15 Cr |
| FY2022 | ₹180 Cr | ₹27 Cr |
| FY2023 | ₹214 Cr | ₹36 Cr |
| FY2024 | ₹232 Cr | ₹34 Cr |
| FY2025 | ₹334 Cr | ₹65 Cr |
Cash flows
FY2025: ₹29.0 Cr from operations, -₹49.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹4 Cr | -₹2 Cr |
| FY2022 | ₹13 Cr | -₹64 Cr |
| FY2023 | ₹49 Cr | ₹59 Cr |
| FY2024 | -₹17 Cr | -₹37 Cr |
| FY2025 | ₹29 Cr | -₹49 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹334 Cr+44.0%1Y
- Net profit
- ₹65 Cr+91.2%1Y
- Cash from operations
- ₹29 Cr
- Free cash flow
- -₹49 Cr
- Revenue CAGR, 5Y
- 9.6%
- EBITDA CAGR, 5Y
- 8.4%
- Net profit CAGR, 5Y
- 11.2%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹334 Cr | ₹96 Cr | — | ₹65 Cr | ₹29 Cr | -₹49 Cr | 10.1% | +44.0% | +91.2% |
Monthly returns
Month-by-month returns of PARAS across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹831 Cr |
| Equity capital | ₹40 Cr |
| Reserves | ₹603 Cr |
| Borrowings | ₹1 Cr |
| Other liabilities | ₹187 Cr |
| Assets | ₹831 Cr |
| Fixed assets | ₹178 Cr |
| Capital work in progress | ₹7 Cr |
| Investments | ₹39 Cr |
| Other assets | ₹608 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
PARAS trades at 76.7x earnings against a peer median of 52.1x (a 47% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Paras Defence and Space Technologies LimitedPARASthis companyP/E ↑ premium | ₹5,465 Cr | 76.7x | 8.1x | 7.6% | 86.0x |
| Dynamatic Technologies Ltd.DYNAMATECH | ₹6,152 Cr | 122.0x | 8.5x | 15.6% | 35.3x |
| PNC Infratech LimitedPNCINFRA | ₹6,063 Cr | 16.5x | 1.1x | 17.8% | 4.2x |
| Avalon Technologies LimitedAVALON | ₹5,943 Cr | 80.0x | 7.7x | 4.8% | 115.1x |
| AXISCADES TECHNOLOGIES LIMITEDAXISCADES | ₹5,771 Cr | 188.0x | 14.6x | -1.1% | 96.9x |
| Aurionpro Solutions Ltd.AURIONPRO | ₹5,678 Cr | 54.6x | 5.3x | 6.4% | 73.0x |
| CMS Info Systems LimitedCMSINFO | ₹5,501 Cr | 17.1x | 2.5x | 18.7% | 8.5x |
| Capillary Technologies India LimitedCAPILLARY | ₹5,315 Cr | 1541.0x | — | -11.2% | -486.9x |
| GHCL Ltd.GHCL | ₹5,042 Cr | 8.8x | 1.5x | 26.7% | 4.4x |
| Peer median | — | 52.1x | 7.8x | 14.5% | 34.2x |
Year-to-date ROI
PARAS since 1 January, against earlier years.
Historical volatility
PARAS's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 33.0% |
| FY2022 | 29.0% |
| FY2023 | 26.0% |
| FY2024 | 23.0% |
| FY2025 | 29.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹334 Cr |
| Costs | |
| Interest | ₹8 Cr |
| Expenses | ₹237 Cr |
| Operating profitOperating Profit | ₹96 Cr |
| Other income and charges | |
| Profit before tax | ₹87 Cr |
| Tax | |
| Net profitNet Profit | ₹65 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹831 Cr |
| Equity capitalEquity Capital | ₹40 Cr |
| Reserves | ₹603 Cr |
| Borrowings | ₹1 Cr |
| Other liabilitiesOther Liabilities | ₹187 Cr |
| AssetsTotal Assets | ₹831 Cr |
| Fixed assetsFixed Assets | ₹178 Cr |
| Capital work in progressCWIP | ₹7 Cr |
| Investments | ₹39 Cr |
| Other assetsOther Assets | ₹608 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹29 Cr |
| Investing cash flowCash from Investing Activity | -₹78 Cr |
| Financing cash flowCash from Financing Activity | ₹78 Cr |
| Change in cashNet Cash Flow | ₹28 Cr |
Learn while you research
Academy chapters picked for Paras Defence and Space Technologies Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 76.7, learn when high multiples are justified.6 min read
- 04 Growth Investing44% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read