Paras Defence and Space Technologies share price
NSE: PARASBSE: 543367Aerospace & DefenseSmall Cap
Paras Defence and Space Technologies Limited · Face value ₹5 Face value. The nominal value of one share as the company issued it, the unit its share capital is counted in and a dividend can be stated as a percentage of; it has no link to the share price. Face value in the glossary · Listed Oct 2021 · Issue price ₹175
Last close ₹1,329.70up ₹27.10 (2.08%)BSE ₹1,329.55
Share price at the NSE close on 29 Oct 2026. Previous close ₹1,302.60.
29 Oct: open ₹1,300.00, high ₹1,349.90, low ₹1,283.20
52-week range of traded prices to 29 Oct 2026
₹580.50Low, 23 Mar 2026₹1,585.00High, 21 Aug 2026
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹10,716 Cr710th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 102.93
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 13.91
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.08%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 14.4%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 15.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Sep 2026.
- 0.04
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 24,43,90716.3% delivered
About Paras Defence and Space Technologies
Paras Defence and Space Technologies designs, develops and manufactures optics and optronic systems, defence electronics, electromagnetic protection solutions and heavy-engineering products for defence and space applications.12 Its products go into rockets and missiles, space research, naval systems, armoured vehicles, electronic warfare and surveillance.1 It is headquartered in Navi Mumbai, with sales and design offices in Bengaluru, Hyderabad and New Delhi.3
The business is organised in the Optics and Optronic Systems vertical and the Defence Engineering vertical.4 Its main product lines include submarine periscopes, hyperspectral cameras (which capture many narrow bands of light to identify materials), electromagnetic protection solutions, a border defence system, cameras for drones, hydrogen-powered drones, inertial navigation systems and an avionics suite for the Saras Mk II aircraft.5 Through subsidiaries it has moved into drones, anti-drone systems and radio-frequency and microwave systems.1 Its joint ventures with Controp, Heven Drones, Cielo and Microcon bring these partners' technologies to India.6
It was incorporated in 2009, and its shares are listed on BSE and the National Stock Exchange.72 Its promoters are Sharad Virji Shah, the non-executive chairman, and his son Munjal Sharad Shah, the managing director.8
Paras Defence and Space Technologies key points
Results
- In the year to Mar 2026, consolidated revenue rose to ₹476.57 crore from ₹364.66 crore, and consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹120.46 crore.9
- Consolidated profit after tax was ₹89.46 crore in the year to Mar 2026, a margin of 19%, against ₹61.49 crore a year earlier.10
- In its annual report of 18 Aug 2026, the board recommended a final dividend of ₹1 per equity share of ₹5 face value for the year to Mar 2026, subject to members' approval; the company's documents give no outcome.11
Market position
- Paras Defence says it is the only company in the Asia-Pacific that develops and manufactures submarine periscopes, the only Indian private-sector company doing so for hyperspectral cameras, and the only Indian company offering turnkey electromagnetic protection solutions.12
Business segments
- Share of consolidated revenue by business13
Item year to Mar 2026 Defence Engineering 46% Optics and Optronic Systems 42% Subsidiaries 12% - Defence Engineering. Makes rugged military displays, computers and command and control systems, shielding against electromagnetic pulse (a burst of energy that can disable electronics), and heavy-engineering parts such as flow-formed tubes, radar cooling assemblies and titanium components.14
- Optics and Optronic Systems. Makes defence and space optics such as infrared lenses, optical domes, diffractive gratings and large space mirrors, and optronic systems that combine optics and electronics for surveillance and target tracking on submarines, drones and land platforms.15
- Paras Anti-Drone Technologies (subsidiary). Paras Anti-Drone Technologies makes radars, software-defined radios, drone detection and jamming systems and electronic warfare systems; its turnover was ₹41.81 crore in the year to Mar 2026, with profit after tax of ₹6.28 crore.1617
Plants and capacity
- The defence and space optics and defence electronics divisions run from Nerul, Navi Mumbai, the heavy engineering factory is at Ambernath, Thane, and a defence and space optics centre of excellence is at Yelahanka, Bengaluru.18
- The company stated in its annual report for the year to Mar 2026 that its current production capacity for submarine periscopes is 1 periscope every 3 months, with plans for further scale-up.19
- In the year to Mar 2026 the company expanded its Ambernath facility to integrate large systems such as submarine periscopes.20
Order book
- The order book (orders received but not yet delivered) was ₹986 crore at the end of March 2026.21
- Order book by business, year to Mar 202622
Item year to Mar 2026 Optics and Optronic Systems 55% Defence Engineering 35% Anti-Drone 10% - Controp-Paras Technologies, an associate 30% held by Paras Defence, has an L&T order worth about ₹293 crore for electro-optic systems for L&T's close-in weapon system (a ship's short-range defence gun) programme, running over several years; Paras Defence executes the India-made content.2324
Customers and partners
- Government customers Paras Defence names include the Indian Ordnance Factories, the Defence R&D Organisation (DRDO), ISRO, Bharat Electronics, Bharat Dynamics, BrahMos Aerospace, Hindustan Aeronautics and the Goa Shipyard and Mazagon Dock shipyards.25
- Private customers Paras Defence names include Larsen & Toubro, Tata Power, Tata Consultancy Services and Godrej & Boyce; overseas customers include Rafael Advanced Defense Systems, Israel Aerospace Industries, Elbit Systems and Controp.26
Research and development
- Paras Defence is developing laser-based anti-drone systems, drone cameras and hyperspectral imaging systems, and its subsidiary Quantico is building capabilities in quantum communication and quantum sensing.27
- Paras Defence says it won key challenges under iDEX, the defence ministry's scheme for new defence technology, which it entered for a synthetic aperture radar (imaging radar) design for the Indian Air Force, anti-jamming systems for the Indian Army and a mobile satellite ground station.2827
- In its annual report of 18 Aug 2026, the company said its Border Defence System, developed with DRDO, was in advanced trials and it had delivered 2 shipsets (sets for one aircraft) of the Saras Mk II glass cockpit and avionics suite.29
Recent events
- On 30 Sep 2026 the company said ICRA had upgraded the credit rating (an agency's view of its ability to repay) on its long-term bank facilities to [ICRA]A, with the outlook revised to stable, and reaffirmed its short-term rating at [ICRA]A2+.30
- Orders announced (approximate values, including taxes)313233
DRDO, optics unit for a hyperspectral space mission, 28 Sep 2026 ₹26.59 crore Bharat Electronics, electro-optics, 2 Jun 2026 ₹52.82 crore DRDO, high-precision optical system for air defence, 9 Mar 2026 ₹80.28 crore - On 15 Apr 2026 Paras Defence signed a ten-year agreement with Bandak Aviation (Northstar) of the US, under which the parties collaborate exclusively to sell and support Northstar's air-to-air refuelling systems to the Indian Armed Forces.3435
- In February 2026 Paras Defence set up Paras Avionics (avionics systems) and Paras Semiconductors (outsourced chip assembly and testing) as subsidiaries; on 30 Mar 2026 Ayatti ceased to be a subsidiary after its sale.3637
Last updated
All 37 sources, each with its page
- 1. Annual report, 18 Aug 2026, page 4
- 2. Annual report, 18 Aug 2026, page 152
- 3. Annual report, 18 Aug 2026, page 94
- 4. Annual report, 18 Aug 2026, page 42
- 5. Annual report, 18 Aug 2026, page 12
- 6. Annual report, 18 Aug 2026, page 6
- 7. Annual report, 18 Aug 2026, page 102
- 8. Annual report, 18 Aug 2026, page 64
- 9. Annual report, 18 Aug 2026, page 6
- 10. Annual report, 18 Aug 2026, page 6
- 11. Annual report, 18 Aug 2026, page 52
- 12. Annual report, 18 Aug 2026, page 12
- 13. Annual report, 18 Aug 2026, page 6
- 14. Annual report, 18 Aug 2026, page 8
- 15. Annual report, 18 Aug 2026, page 7
- 16. Annual report, 18 Aug 2026, page 42
- 17. Annual report, 18 Aug 2026, page 44
- 18. Annual report, 18 Aug 2026, page 78
- 19. Annual report, 18 Aug 2026, page 12
- 20. Annual report, 18 Aug 2026, page 17
- 21. Annual report, 18 Aug 2026, page 6
- 22. Annual report, 18 Aug 2026, page 11
- 23. Annual report, 18 Aug 2026, page 36
- 24. Annual report, 18 Aug 2026, page 34
- 25. Annual report, 18 Aug 2026, page 11
- 26. Annual report, 18 Aug 2026, page 11
- 27. Annual report, 18 Aug 2026, page 96
- 28. Annual report, 18 Aug 2026, page 16
- 29. Annual report, 18 Aug 2026, page 12
- 30. Exchange filing, 30 Sep 2026, page 1
- 31. Exchange filing, 28 Sep 2026, page 1
- 32. Exchange filing, 2 Jun 2026, page 1
- 33. Exchange filing, 9 Mar 2026, page 1
- 34. Exchange filing, 15 Apr 2026, page 1
- 35. Exchange filing, 15 Apr 2026, page 2
- 36. Annual report, 18 Aug 2026, page 61
- 37. Annual report, 18 Aug 2026, page 14
Results
Consolidated; ₹ crore.Paras Defence and Space Technologies quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +41.7%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +48.2%
Quarter to Sep 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹151 Crup 18.15%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹31 Crup 47.35%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 20.2%
Revenue by quarter
Peak revenue ₹171 Cr, quarter to Mar 2026; lowest ₹86 Cr, quarter to Dec 2024
Net profit by quarter, a loss in red
| ₹ crore | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 86 | 108 | 93 | 106 | 106 | 171 | 128 | 151 |
| Net profit | 14 | 21 | 14 | 19 | 17 | 39 | 21 | 31 |
| Net margin | 16.1% | 19.2% | 15.3% | 18.4% | 15.8% | 22.7% | 16.2% | 20.2% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹477 Crup 30.69%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹89 Crup 45.49%
- Net margin
- 18.8%
Revenue by year
Peak revenue ₹477 Cr, year to Mar 2026; lowest ₹183 Cr, year to Mar 2022
Net profit by year, a loss in red
| ₹ crore | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 183 | 222 | 254 | 365 | 477 |
| Net profit | 27 | 36 | 30 | 61 | 89 |
| Net margin | 14.8% | 16.2% | 11.8% | 16.9% | 18.8% |
Consolidated. Years to March. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Defence EngineeringDefence Engineering, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹277 Crup 48.15%58.2%
- Optics and Optronic SystemsOptics and Optronic Systems, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹199 Crup 12.25%41.8%
The pill is the change in revenue on the year before; the share is of all the businesses together.
Valuation
Today, against the company's own history.Paras Defence and Space Technologies PE ratio and valuation
Price to earnings
At or below today's level on 81% of 1,101 trading days since May 2022.
LowestHighest
Its median83.90Industry median62.36
Price to book
At or below today's level on 94% of 1,227 trading days since Nov 2021.
LowestHighest
Its median7.68Industry median8.16
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 93% of 1,225 trading days over the last 5 years.
LowestHighest
Its median0.00%Industry median0.15%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +24.5% | +36.5% | −8.9% | 0.2% |
| 3 years | +36.4% | +33.2% | +2.3% | 0.1% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.
Mutual fund holdings
23 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 12 of the 15 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 23 funds holding Paras Defence and Space Technologies
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 6
- CutCut. Funds that held fewer shares than at the end of the month before.
- 9
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 7
| Fund | |||
|---|---|---|---|
 HSBC Small Cap FundHSBC Mutual Fund | 7,80,805 | 0.55% | ₹102.4 Cr |
| HSBC Multi Cap FundHSBC Mutual Fund | 6,01,301 | 1.24% | ₹78.8 Cr |
 Motilal Oswal Nifty India Defence Index FundMotilal Oswal Mutual Fund | 4,78,887 | 1.16% | ₹62.8 Cr |
 TRUSTMF Small Cap FundTrust Mutual Fund | 2,85,980 | 0.97% | ₹37.5 Cr |
 Aditya Birla Sun Life Nifty India Defence Index FundAditya Birla Sun Life Mutual Fund | 1,24,192 | 1.16% | ₹16.3 Cr |
| Motilal Oswal Nifty India Defence ETFMotilal Oswal Mutual Fund | 1,13,565 | 1.15% | ₹14.9 Cr |
| Motilal Oswal Nifty Microcap 250 Index FundMotilal Oswal Mutual Fund | 96,107 | 0.52% | ₹12.6 Cr |
| TRUSTMF Flexi Cap FundTrust Mutual Fund | 84,953 | 1.11% | ₹11.1 Cr |
 Samco Active Momentum FundSamco Mutual Fund | 78,298 | 1.32% | ₹10.3 Cr |
| TRUSTMF Mid Cap FundTrust Mutual Fund | 63,933 | 1.22% | ₹8.38 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Promoter and insider buying and selling
Trades made since 30 Oct 2025.Paras Defence and Space Technologies insider trading
No promoter, director, key manager or employee bought or sold on the market.
- Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.
Paras Defence and Space Technologies competitors and peers
Aerospace & Defense, 35 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Paras Defence and Space Technologies in market cap.Capital goods stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
 Apollo Micro SystemsAPOLLO | 15,665 | 112.74 | 10.31 | +77.1% | +69.7% | 10.7% | 11.8% | 0.06% |
 Astra Microwave ProductsASTRAMICRO | 14,989 | 79.29 | 11.40 | +4.0% | +16.3% | 15.7% | 17.4% | 0.15% |
 Zen TechnologiesZENTEC | 14,641 | 81.29 | 7.75 | −23.5% | −28.2% | 10.0% | 10.0% | 0.06% |
 AequsAEQUS | 14,624 | – | 10.50 | – | – | −14.5% | −5.7% | 0.00% |
 AXISCADES TechnologiesAXISCADES | 8,502 | 233.99 | 11.69 | +4.6% | −53.8% | 5.3% | 10.7% | 0.00% |
 Unimech Aerospace and ManufacturingUNIMECH | 8,440 | 95.76 | 10.57 | +40.0% | +10.8% | 11.7% | 9.8% | 0.00% |
 Mishra Dhatu NigamMIDHANI | 7,091 | 52.54 | 4.63 | +18.2% | +13.9% | 9.2% | 9.5% | 0.55% |
 Tonbo Imaging IndiaTONBO | 6,926 | – | – | – | – | – | – | 0.00% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Paras Defence and Space Technologies dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossaryHighest ₹1.00 a share, year to Mar 2026.
| Ex-date | Type | Per share |
|---|---|---|
| 28 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.00 |
| 8 Aug 2025 | Final | ₹0.50 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Paras Defence and Space Technologies announcements
Oct 2026
29 Oct · Results
24 Oct · Board meeting
Sep 2026
30 Sep · Rating
24 Sep · Analysts
Paras Defence and Space Technologies annual report, year to Mar 2026
Paras Defence and Space Technologies share price by year
Each calendar year to 2025.Paras Defence and Space Technologies share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 684.40 | +35.8% | 933.60 | 417.48 |
| 2024 | 504.10 | +40.2% | 780.20 | 305.90 |
| 2023 | 359.45 | +19.5% | 408.70 | 225.05 |
| 2022 | 300.70 | −19.1% | 392.95 | 269.05 |
| 2021 | 371.50 | – | 599.15 | 246.23 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2021 is from its first session, 1 Oct 2021.
Recent sessions
The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 28 Oct 2026 | 1,285.00 | 1,321.00 | 1,265.50 | 1,302.60 | 1,301.74 | 7,53,165 | 27.7% |
| 27 Oct 2026 | 1,256.00 | 1,346.00 | 1,247.10 | 1,288.00 | 1,311.06 | 16,78,836 | 19.6% |
| 26 Oct 2026 | 1,172.00 | 1,270.00 | 1,157.40 | 1,254.00 | 1,233.32 | 11,61,294 | 26.4% |
| 23 Oct 2026 | 1,196.90 | 1,199.00 | 1,133.20 | 1,177.20 | 1,164.56 | 8,11,336 | 32.8% |
| 22 Oct 2026 | 1,198.00 | 1,215.40 | 1,175.20 | 1,205.10 | 1,197.80 | 7,42,269 | 31.8% |
| 21 Oct 2026 | 1,268.20 | 1,271.60 | 1,203.70 | 1,217.80 | 1,223.28 | 6,83,329 | 36.3% |
| 19 Oct 2026 | 1,296.30 | 1,298.00 | 1,260.50 | 1,265.10 | 1,274.72 | 4,15,257 | 32.4% |
| 16 Oct 2026 | 1,262.00 | 1,314.70 | 1,253.20 | 1,298.90 | 1,292.86 | 6,72,867 | 31.4% |
| 15 Oct 2026 | 1,281.00 | 1,282.80 | 1,252.30 | 1,261.10 | 1,264.88 | 4,02,999 | 26.6% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 4 Jul 2025 | Split | 0.5000 | Each share became 2. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.
Company details
- NSE symbol
- PARAS
- BSE code
- 543367
- ISIN
- INE045601023
- Industry
- Aerospace & Defense
- Website
- www.parasdefence.com
- CIN
- L29253MH2009PLC193352
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2009
- Registered office
- D-112, TTC Industrial Area, MIDC, Nerul, Navi Mumbai 400706, Maharashtra
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments