Defence stock engaged in designing, developing, manufacturing, and testing a variety of defence and space equipments jumped upto 5 percent in the day’s trade upon winning a Ministry of Defence challenge and receiving eligibility for grant to develop Mobile Ground Station system for defence, space and others.
Price Action
With a market capitalization of Rs. 4,075 Crores, the shares of Paras Defence and Space Technologies Limited were trading at Rs. 1,045 per equity share, up 2.5 percent from its previous day’s close price of Rs. 1,021.65.
What Happened
Paras Defence and Space Technologies Limited has announced that its subsidiary Paras Anti-Drone Technologies Private Limited has been declared as the proud winner of the ADITI 1.0 Challenge for “Mobile Ground Station in S/X/Ka band for Transmitting and Receiving Data from Satellites”
Following this Paras Anti-Drone Technologies Private Limited will engage in the development of a groundbreaking Mobile Ground Station system. This solution, under development, leverages cutting-edge phased array technology to address next-generation demands for high-data-rate connectivity and multi-satellite tracking.
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Paras Anti-Drone Technologies Private Limited is also eligible for a grant amount of upto 50 percent of the Product Development Budget (PDB), with a maximum limit of Rs. 25 crores.
The Scheme was launched by the Defence Innovation Organisation (DIO), under the Department of Defence Production (DDP), Ministry of Defence, Government of India as ADITI (Acing Development of Innovative Technologies with iDEX), a Scheme under iDEX for Promoting Innovations in Critical and Strategic Defence Technologies.
About the Company
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.
It operates in application areas of Rockets & Missiles, Electronic Warfare & Surveillance, Battle Tanks & Armoured Vehicles, Naval Systems, Electro Magnetic Shielding, Space Imaging Systems, Space Research, Drone Technologies and many more.
It has a strong customer base which includes well-known entities like DRDO, Mazagon Dock Shipbuilders, ISRO, BEL, HAL, Tata Power, Rafael Advanced Systems, Department of Atomic Energy, Israel Aerospace Industries, and many more.
Financials and Ratios
Its Revenue from operations grew by 73 percent from Rs. 48 Crores in Q1FY24 to Rs. 84 Crores in Q1FY25, accompanied by profits of Rs. 6 Crores to Rs. 14 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 7 percent, and a return on capital employed (ROCE) of 10.3 percent. It has reported a debt-to-equity ratio of 0.15.
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Written by: Bharath K.S
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