The order comprises of manufacturing and supply of 244 sight – 25HD EO (electro-optics) system along with extended warranty charges and integrated logistics support (ILS) Package, for their CIWS Program.
The cost of order is Rs 305 crore and it expected to be executed within 47 months.
Paras Defence and Space Technologies offers high precision products and turnkey solutions to the defense and space sector, operating in three main verticals – defence and space optics, defence electronics solutions, and heavy engineering. As on 30 June 2024, the Government of India held 58.94% in the company.
The company reported a consolidated net profit of Rs 14.85 crore in Q1 FY25, steeply higher than Rs 6.01 crore posted in Q1 FY24. Revenue from operations soared 72.95% YoY to Rs 83.57 crore in June 2024 quarter.
The scrip declined 2.44% to close at Rs 1,149.95 on 14 August 2024.