Paras Defence opens new optical systems facility in Maharashtra

25 Nov 2024 , 12:50 PM

Paras Defence and Space Technologies‘ shares rose 5% to ₹1,025 each on November 25 after the company unveiled its innovative and cutting-edge optical systems testing facility in Navi Mumbai, Maharashtra. It will be India’s most sophisticated facility for the research and development of hyperspectral and other optical technologies for space and defence.

So far this year, this defence player’s stock has increased by 42%, compared to a 10% increase in the benchmark Nifty 50. Previously, it had reached a 52-week high of ₹1,592 a share on July 5, 2024.

The focus of Paras Defence on sophisticated optical and optronics technologies is consistent with the government’s “Vision 2047,” which envisions the country at the forefront of global space economy and human space exploration, according to management.

In the just completed September quarter, Paras Defence’s net profit increased by 45 percent year on year, exceeding Street expectations. Revenue climbed by 42% YoY in Q2 FY25, while EBITDA increased by 46% YoY. Meanwhile, the EBITDA margin increased to 26.1 percent, up from 25.3 percent last year.

At around 12.43 PM, Paras Defence was trading 3.28% higher at ₹1,008.95 per piece, against the previous close of ₹976.90 on NSE. 

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