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 ₹ 10,658 Cr.
- Current Price ₹ 1,322
- High / Low ₹ 1,445 / 580
- Stock P/E 124
- 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 14.4 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: | 55% |
| 1 Year: | 99% |
| 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 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Closing Order Book Rs Crore |
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| Optics & Optronic Systems Revenue Share % |
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| Export Share of Revenue % ・Standalone data |
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| Number of Subsidiaries count |
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| R&D Team Size count ・Standalone data |
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| Top Customer Concentration in Order Book % |
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| Total Workforce count ・Standalone data |
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| Fresh Order Inflow Rs Crore |
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Extracted by Screener AI
Documents
Announcements
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Amendment To Code For Prohibition Of Insider Trading And Fair Disclosure Of Unpublished Price Sensitive Information (UPSI) Of The Company Under SEBI (Prohibition Of Insider Trading), Regulations, 2015
24 Jul - Board approved amended insider trading and UPSI code on July 24, 2026.
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Announcement under Regulation 30 (LODR)-Change in Management
24 Jul - Paras Defence appoints Anushka Munjal Shah as VP-Business Development and Senior Management Personnel effective July 24, 2026.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
22 Jul - Paras Semiconductors signed MoU for ₹6,200 crore OSAT facility; 50 acres allotted in Madhya Pradesh.
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Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements
22 Jul - Paras Semiconductors signs MoU for ₹6,200 crore greenfield OSAT facility in Indore-Ujjain, Madhya Pradesh.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Jul - Certificate under regulation 74(5) of SEBI (Depositories and Participants) Regulation 2018, for the quarter ended June 30, 2026.
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]