Defence and Space engineering stock with clients like ISRO, DRDO, Tata Power and many More jumped 3 percent in the day’s trade upon receiving a work order worth Rs. 53 Crores from the Ministry of Defence.
With a market capitalization of Rs. 3,156 Crores, the shares of Paras Defence and Space Technologies Limited were trading at Rs. 809, up 3.10 percent from its previous day’s close price of Rs. 784.70.
Paras Defence and Space Technologies Limited has received a work order worth Rs. 53 Crores from the Instrument Research & Development Establishment (IRDE) Ministry of Defence, DRDO, for the Design, Optimization, Fabrication and Qualification of Optical Periscopes for Integrated Communication & Surveillance System (ICS) in Submarine Application.
Paras Defence and Space Technologies Limited is primarily engaged in designing, developing, manufacturing and testing a variety of defence and space engineering products and solutions.
As of FY23, it had an order book of Rs. 393 Crores and it generated 36.98 percent (Rs. 82.25 Crores) of its operational revenue from Defence Electronics, 32.08 percent (Rs. 71.36 Crores) from Defence and Space Optics and 30.94 percent (Rs. 68.82 Crores) from Heavy Engineering and Defence.
It generated 55 percent of operational revenue from Government customers, 30 percent from Private customers and 15 percent from international customers.
It has a strong customer base which includes well-known entities like DRDO, Mazagon Dock Shipbuilders, ISRO, BEL, HAL, Tata Power, Rafael Advanced Systems, Israel Aerospace Industries and many more.
In FY23 its revenue from operations grew 21.84 percent from Rs. 182.56 Crores in FY22 to Rs. 222.43 Crores in FY23, accompanied by profits of Rs. 27.04 Crores to Rs. 36.06 Crores.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
