Paras Defence and Space Technologies Ltd
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.[1]
- Market Cap ₹ 10,552 Cr.
- Current Price ₹ 1,310
- High / Low ₹ 1,348 / 580
- Stock P/E 123
- Book Value ₹ 90.0
- Dividend Yield 0.02 %
- ROCE 16.9 %
- ROE 12.6 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 40.5% CAGR over last 5 years
Cons
- Stock is trading at 14.6 times its book value
- Company has a low return on equity of 10.9% over last 3 years.
- Company has high debtors of 278 days.
- Promoter holding has decreased over last 3 years: -5.74%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 154 | 147 | 143 | 183 | 222 | 254 | 365 | 477 | |
| 111 | 107 | 99 | 130 | 165 | 200 | 265 | 356 | |
| Operating Profit | 43 | 40 | 44 | 52 | 58 | 53 | 100 | 120 |
| OPM % | 28% | 27% | 31% | 29% | 26% | 21% | 27% | 25% |
| 3 | 2 | 1 | 3 | 8 | 8 | 8 | 19 | |
| Interest | 10 | 10 | 13 | 8 | 8 | 8 | 9 | 5 |
| Depreciation | 9 | 10 | 10 | 10 | 11 | 13 | 15 | 17 |
| Profit before tax | 27 | 22 | 23 | 37 | 47 | 40 | 84 | 118 |
| Tax % | 29% | 10% | 30% | 26% | 23% | 26% | 26% | 24% |
| 19 | 20 | 16 | 27 | 36 | 30 | 61 | 89 | |
| EPS in Rs | 16.64 | 3.46 | 2.63 | 3.47 | 4.62 | 4.11 | 7.87 | 10.93 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 6% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 27% |
| 3 Years: | 29% |
| TTM: | 31% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 41% |
| 3 Years: | 34% |
| TTM: | 38% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 62% |
| 1 Year: | 61% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 11% |
| Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 28 | 30 | 39 | 39 | 39 | 40 | 40 |
| Reserves | 147 | 144 | 177 | 339 | 374 | 406 | 600 | 685 |
| 85 | 103 | 106 | 31 | 15 | 66 | 24 | 27 | |
| 92 | 66 | 50 | 48 | 93 | 129 | 188 | 212 | |
| Total Liabilities | 330 | 342 | 363 | 458 | 520 | 640 | 852 | 965 |
| 168 | 158 | 157 | 154 | 170 | 186 | 190 | 198 | |
| CWIP | 3 | 5 | 1 | 0 | 5 | 4 | 11 | 9 |
| Investments | 0 | 0 | 1 | 4 | 12 | 22 | 28 | 33 |
| 159 | 180 | 204 | 300 | 335 | 427 | 623 | 725 | |
| Total Assets | 330 | 342 | 363 | 458 | 520 | 640 | 852 | 965 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| -3 | 4 | 12 | 46 | -46 | 45 | 25 | ||
| -5 | -6 | -77 | 10 | -2 | -87 | -17 | ||
| 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/OP | 11% | 25% | 44% | 96% | -63% | 63% | 48% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 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
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Closing Order Book INR Crores |
|
||||
| Export Contribution to Revenue % |
|||||
| Gross Current Assets (GCA) Days |
|||||
| Permanent Employee Strength Number |
|||||
| Revenue Share - Defence and Space Optics % |
|||||
| Revenue Share - Defence Electronics % |
|||||
| Number of iDEX Challenge Wins Number |
|||||
Extracted by Screener AI
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
9h - Paras Defence to meet analysts and investors at PL Capital Defence Conference on June 25, 2026.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
10 Jun - Paras Defence will meet analysts and institutional investors in London on June 15-16, 2026.
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
3 Jun - The management of PARAS will be meeting Analysts / Institutional Investors on Tuesday, June 09, 2026.
-
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2 Jun - Paras Defence received a 52.82 Cr BEL order for electro-optics, to be executed by September 2027.
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
26 May - FY26 secretarial compliance report filed; two minor disclosure delays noted, no fines or action.
Market Leadership[1]
The company is one of India’s leading players in the defence and space sector.
It is the only manufacturer of submarine periscopes in the Asia Pacific and the sole Indian private firm producing indigenous hyper-spectral cameras for space missions. Additionally, the company is the only domestic provider of turnkey electromagnetic protection solutions and has pioneered a unique border defence system in collaboration with DRDO to enhance soldier safety. [2]