The shares of prominent defence component manufacturers gained up to 4 percent after the company announced a Strategic Joint Venture with Heven, a Leading Global Drone Innovator.
With a market capitalisation of Rs 5,507.74 crore, the shares of Paras Defence and Space Technologies Ltd were trading at Rs 1,366.95 per share, decreasing around 0.64 percent as compared to the previous closing price of Rs 1,375.70 apiece.
According to the company filing, Paras Defence and Space Technologies Ltd announced a strategic joint venture with HevenDrones Israel to establish a new entity in India to design, manufacture and supply next-generation drone systems tailored for India’s defence and homeland security landscape, with long-term plans to address global markets.
Furthermore, the Paras Defence–HevenDrones JV brings hydrogen-powered drone technology to India, combining Paras’s manufacturing strength with HevenDrones’ platforms. As a pioneer in this space, the JV will offer ready-to-fly drones with long endurance and modular payloads, targeting logistics, surveillance, defence supply chains, and high-altitude operations from Indian soil.
“India is a priority market for drone deployment at scale, and HevenDrones’ combat-tested portfolio provides a strategic edge,” said Munjal Sharad Shah, Managing Director, Paras Defence and Space Technologies Ltd. “This JV enables us to deliver world-class Made in India drone systems for local and global markets.”
Heven is a global leader in next-gen autonomous drones for logistics and security. Paras Defence, a top Indian private firm, nearly doubled its FY25 net profit on 35.8% revenue growth and 26.2% EBITDA margins. Strong performance is backed by a ₹9 billion order book, stock split, and dividend declaration.
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Financial Highlights
Looking forward to the company’s financial performance, revenue magnified by 35 percent from Rs 80 crore in Q4FY24 to Rs 108 crore in Q4FY25, Further, during the same time frame, net profit jumped by 110 percent from Rs 10 crore to Rs 21 crore.
Recently, the board also approved subdivision/ split of the existing 1 equity share of face value of Rs. 10 each, fully paid-up, into 2 equity shares of face value of Rs. 5 each, fully paid-up, subject to shareholders’ approval.
Paras Defence serves a wide range of prestigious Indian government clients, including DRDO, ISRO, HAL, Bharat Electronics, BrahMos, and the Department of Atomic Energy. Its customer base spans key sectors like defence, space, shipbuilding, electronics, and research, reflecting strong credibility and strategic integration with India’s critical technology and defence ecosystem.
Paras Defence and Space Technologies Limited is engaged in designing, developing, manufacturing, testing and commissioning of products, systems and solutions for defence and space applications. The Company operates through two segments: Optics and Optronic Systems, and Defence Engineering.
Written by Abhishek Singh
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