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Swing Capital

Paras Defence and Space Technologies Ltd

NSE: PARAS BSE: 543367

Paras Defence and Space Technologies (PDST) is an Private sector company primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company caters to four major segments - Defence & Space Optics, Defence Electronics, Heavy Engineering and Electromagnetic Pulse Protection Solutions.[1]

₹745
52W: ₹580 — ₹972
PE 72.3 · Book ₹89.8 · +730% vs book
Market Cap₹6,005 Cr
Stock P/E72.3Price to Earnings
ROCE16.5%Return on Capital
ROE12.2%Return on Equity
Div. Yield0.03%Face Value ₹5

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has delivered good profit growth of 40.8% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 8.11 times its book value
  • −Company has a low return on equity of 10.9% over last 3 years.
  • −Company has high debtors of 287 days.
  • −Promoter holding has decreased over last 3 years: -5.74%

Shareholding Pattern

Promoters53.2%
FIIs5.06%
DIIs1.24%
Public40.52%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters58.94%58.94%57.05%▼1.957.05%53.74%▼3.353.2%▼0.553.2%53.2%
FIIs2.97%3.46%▲0.54.84%▲1.45.24%▲0.46.85%▲1.65.7%▼1.14.92%▼0.85.06%▲0.1
DIIs0.07%0.63%▲0.61.48%▲0.81.54%▲0.11.94%▲0.41.46%▼0.51.28%▼0.21.24%▼0.0
Public38%36.96%▼1.036.61%▼0.436.16%▼0.537.46%▲1.339.64%▲2.240.61%▲1.040.52%▼0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales63657884829087103101126
Expenses49545360596766727495
Operating Profit14112424232322312730
OPM %22%17%31%28%28%25%25%30%27%24%
Net Profit8101616171715222026
EPS ₹0.971.322.0322.062.111.912.762.423.22

AI Insights

Revenue Trend

Mar 2026 revenue at ₹417Cr, up 24.9% YoY. OPM at 26%.

Debt Position

Borrowings at ₹0Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹8Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.24% (-0.97pp change). FIIs: 5.06% (+4.95pp change). Promoters hold 53.2%.

Margin & Efficiency

ROCE improving from 0% (Mar 2017) to 17% (Mar 2026). Working capital days: 311.

Valuation

PE 72.3x with 16.5% ROCE. Price is 730% above book value of ₹89.8. Dividend yield: 0.03%.

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