Synopsis: The shares of this defence company were in focus today after it signed a Memorandum of Understanding (MoU) with the Inter-University Accelerator Centre (IUAC), New Delhi, to develop MRI magnet systems.
The shares of this company, which is a private sector company primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions, were in focus today after its announcement of signing an MOU with a New Delhi-based university to develop MRI systems locally.
With the market cap of Rs 5,775 Crore, the shares of Paras Defence and Space Technologies Ltd reached a high of Rs 723.80 compared to its previous day closing price of Rs 708.30, giving a jump of 2.18% in today’s trading session. The shares have given a return of 190% since their listing.
About the MOU
Paras Defence and Space Technologies Limited (“PARAS”) has taken an important step forward by signing a Memorandum of Understanding (MoU) with the Inter-University Accelerator Centre (IUAC), New Delhi. IUAC, an autonomous institute under the UGC and the Ministry of Education, plays a key role in particle accelerator–based basic research and development in India. This collaboration brings together the scientific depth of IUAC and the manufacturing and engineering capabilities of PARAS, laying the foundation for a high-impact technology initiative.
Through this partnership, PARAS and IUAC will work jointly to develop commercial-grade MRI magnet systems that can be manufactured within India. By building superconducting MRI magnet technology domestically, the two organizations aim to advance India’s goal of becoming self-reliant in this critical area, directly supporting the broader vision of Aatma Nirbhar Bharat. This initiative not only addresses a strategic technological gap but also strengthens India’s ability to innovate and produce high-end medical equipment within the country.
Financials and others.
The revenue from operations is at Rs 106 crore in Q2 FY26 versus Rs 87 crore in Q2 FY25, which is an increase of about 22 per cent YoY. The increase in net profit is around 46 per cent when we compare the Q2 FY25 profit of Rs 13 crore with the Q2 FY26 profit of Rs 19 crore.
Paras Defence and Space Technologies Ltd is one of India’s leading players in the defence and space sector and caters to four major segments – Defence & Space Optics, Defence Electronics, Heavy Engineering and Electromagnetic Pulse Protection Solutions. It is the sole Indian supplier of critical imaging components for space applications, including large-size optics and diffractive gratings.
Paras Defence highlighted its role in India’s first indigenously developed iMRI system by SAMEER, MeitY. Paras will supply the magnet, gradient coil and associated systems as part of a SAMEER-led consortium. The project targets high-performance and cost-effective MRI access, especially for rural India, with strong long-term business and export potential, continuing the very same theme for which this MOU was signed.
The company’s order book as of FY25 stands Rs 928 crore, out of which 40% comes from defence engineering and 60% comes from Optics , Optronic systems .
Paras Defence works with some of the most respected names across India’s defence and technology landscape, showing how trusted the company has become in mission-critical projects. From DRDO, ISRO, HAL and the Department of Atomic Energy to major shipyards and research bodies, its government customer list reflects deep credibility built over years.
On the private side, partnerships with Tata, L&T, Godrej, Astra Rafael and Solar Industries highlight how widely its engineering expertise is valued. This strong mix of government, corporate and international clients not only showcases Paras Defence’s technical strength but also gives the company a steady, long-term growth foundation.
Written by Leon Mendonca.
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