Paras DEF and Spce Tech L
NSE: PARAS · Aerospace & Defense · sector
₹1,254.00NSE close 2026-10-26
Key numbers
Market cap₹10,105 cr
Price₹1,254.00
52w high / low₹1,585 / ₹580
P/E107.0xSector median 75.3x
P/B13.9xSector median 8.2x
Book value₹90.0
Dividend yield0.04%Sector median 0.15%
ROE13.8%Sector median 12.6%
ROCE17.5%Sector median 13.7%
OPM26.1%Sector median 20.9%
Debt / equity0.04xSector median 0.11x
EV/EBITDA75.1xSector median 59.6x
Interest cover25.4x
Current ratio3.23x
Sales growth 3y+28.9%Sector median +15.9%
Profit growth 3y+34.7%Sector median +32.2%
PEG3.22x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 29 companies in Aerospace & Defense (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹119 cr vs borrowings ₹27 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 25.4x in the last 12 months.
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY25, FY24, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 16% of net profit in the last 12 months.
- Dividend paid in 1 of the last 5 financial years.
- Price ₹1,254.00 on 2026-10-26: -20.9% from the 52-week high, +116.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹1,496.40 · low ₹584.60
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 87 | 86 | 108 | 93 | 106 | 106 | 171 | 128 |
| EBITDA | 23 | 22 | 28 | 22 | 30 | 26 | 46 | 32 |
| OPM % | 26.1% | 25.7% | 26.1% | 23.6% | 28.1% | 24.7% | 26.6% | 24.9% |
| Other income | 2 | 2 | 4 | 2 | 2 | 2 | 9 | 2 |
| Net profit | 14 | 15 | 20 | 15 | 21 | 18 | 34 | 21 |
| EPS (₹) | 1.77 | 1.87 | 2.44 | 1.84 | 2.56 | 2.26 | 4.27 | 2.63 |
| Revenue YoY | +21.4% | +24.0% | +58.3% | +37.3% | ||||
| Profit YoY | +48.9% | +21.1% | +74.3% | +42.7% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 183 | 222 | 254 | 365 | 477 | 511 |
| EBITDA | 52 | 57 | 51 | 97 | 123 | 133 |
| Net profit | 27 | 36 | 32 | 63 | 88 | 94 |
| EPS (₹) | 3.89 | 4.62 | 4.11 | 8.01 | 10.93 | 11.72 |
| Revenue growth | +21.8% | +14.0% | +43.9% | +30.7% | +36.6% | |
| Profit growth | +33.2% | -11.1% | +98.0% | +38.8% | +48.8% | |
| Dividend / share (₹) | – | – | – | – | 0.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +28.9% | – | +36.6% |
| Net profit | +34.7% | – | +48.8% |
| EPS | +33.2% | – | – |
| Share price | – | +54.8% (2y) | +70.3% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 413 | 445 | 640 | 725 |
| Borrowings | – | 15 | 65 | 23 | 27 |
| Cash & equivalents | – | 40 | 11 | 111 | 119 |
| Total assets | – | 521 | 640 | 852 | 965 |
| Fixed assets | – | 145 | 178 | 179 | 184 |
| Capital work in progress | – | 5 | 4 | 8 | 9 |
| Investments | – | 12 | 22 | 28 | 33 |
| Receivables | – | 150 | 198 | 295 | 363 |
| Inventory | – | 93 | 150 | 151 | 160 |
| Payables | – | 26 | 61 | 55 | 57 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 12 | 46 | -46 | 45 | 25 |
| Cash from investing | -77 | 10 | -2 | -87 | -17 |
| Cash from financing | 63 | -40 | 33 | 74 | -17 |
| Capex | 9 | 25 | 26 | 35 | 38 |
| Free cash flow | 3 | 20 | -72 | 10 | -13 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 8.7% | 7.2% | 9.9% | 12.1% |
| ROCE % | – | 12.6% | 9.0% | 13.6% | 16.3% |
| Debtor days | – | 247 | 285 | 295 | 278 |
| Inventory days | – | 324 | 455 | 323 | 244 |
| Payable days | – | 90 | 185 | 117 | 88 |
| Cash conversion cycle (days) | – | 481 | 555 | 501 | 434 |
| Working capital days | – | 382 | 332 | 408 | 365 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 53.20% |
| FIIs | 7.48% |
| DIIs | 4.63% |
| of which Mutual funds | 3.57% |
| of which Insurance | 0.98% |
| Public (non-institutions) | 34.70% |
| Quarter | Mar 2025 | May 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 57.05% | 53.74% | 53.74% | 53.20% | 53.20% | 53.20% | 53.20% | 53.20% |
| Promoter group | % |
|---|---|
| Munjal Sharad Shah | 24.47% |
| Sharad Virji Shah | 15.43% |
| Kaajal Harsh Bhansali | 2.91% |
| Anish Hemant Mehta | 2.91% |
| Ami Munjal Shah | 2.51% |
| Anushka Munjal Shah | 2.48% |
| Jiwanshi Munjal Shah | 2.48% |
| Niranjana Sharad Shah | 0.00% |
| Public holders above 1% | % |
|---|---|
| Abu Dhabi Investment Authority - Monsoon | 2.20% |
| Hsbc Mutual Fund - Hsbc Small Cap Fund | 1.72% |
| Shilpa Amit Mahajan | 1.43% |
| Amit Navin Mahajan | 1.43% |
| Kuwait Investment Authority Fund 601 | 1.12% |
3,43,483 shareholders. Pledged: – of promoter shares.
Peers in Aerospace & Defense
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| HAL | ₹3,19,342 cr | 34.3x | 7.8x | 24.5% | 30.2% | 29.6% | +7.1% | 1.05% |
| BEL | ₹2,65,346 cr | 43.2x | 11.1x | 28.0% | 34.1% | 28.6% | +15.9% | 0.79% |
| BDL | ₹37,719 cr | 72.4x | 8.9x | 12.6% | 16.8% | 12.7% | -0.6% | 0.51% |
| GRSE | ₹21,411 cr | 26.7x | 8.2x | 34.0% | 41.2% | 11.1% | +39.8% | 0.95% |
| DATAPATTNS | ₹21,133 cr | 78.8x | 12.2x | 16.5% | 21.4% | 39.3% | +26.8% | 0.21% |
| AEQUS | ₹16,257 cr | – | 10.9x | -7.6% | 1.1% | 7.6% | – | – |
| APOLLO | ₹15,269 cr | 118.8x | 11.6x | 12.7% | 11.6% | 22.6% | +44.9% | 0.06% |
| ASTRAMICRO | ₹14,226 cr | 75.3x | 10.8x | 15.7% | 18.6% | 28.6% | +12.6% | 0.15% |
| ZENTEC | ₹13,947 cr | 77.1x | 7.4x | 10.3% | 14.6% | 32.6% | +46.5% | 0.13% |
| PARAS | ₹10,105 cr | 107.0x | 13.9x | 13.8% | 17.5% | 26.1% | +28.9% | 0.04% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Defence Engineering | ₹278 cr | 58.2% | ₹57 cr | 20.4% |
| Optics and Optronic Systems | ₹199 cr | 41.8% | ₹88 cr | 44.3% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-28 | Dividend | Dividend - Re 1 Per Share |
| 2025-08-08 | Dividend | Dividend - Re 0.50 Per Share |
| 2025-07-04 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share |
| 2024-09-13 | Other | Annual General Meeting |
| 2023-09-22 | Other | Annual General Meeting |
| 2022-09-19 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Design, development, manufacturing, testing & commissioning of products, systems and solutions for Defence & Space Applications: Optics and Optronics System
- Design, development, manufacturing, testing & commissioning of products, systems and solutions for Defence & Space Applications: Defence Engineering
| Sector | Industrials |
| Industry | Aerospace & Defense |
| Sub-industry | Aerospace & Defense |
| Symbol | PARAS |
| BSE code | 543367 |
| ISIN | INE045601023 |
| Face value | ₹5.0 |
| Incorporated | 2009-06-16 |
| Website | www.parasdefence.com |
| Plants (India / abroad) | 2 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.