Paras Defence shares surge 10% on bagging order worth ₹142 crore

Shares of the Mumbai-based defence engineering company, Paras Defence and Space Technologies, rose as much as 10% to hit an intraday high of ₹1,046.95 on the BSE on Thursday, March 20 after the company informed exchanges that it received an order worth ₹142.31 crore. On the National Stock Exchange, Paras Defence shares advanced as much as 9.83% to hit an intraday high of ₹1,047.70.

Paras Defence on Thursday informed exchanges that it won an order worth ₹142.31 crore from Centre for High Energy Systems & Sciences (CHESS), DRDO, Ministry of Defence for development of laser source module and integration with beam control system (BCS) on mobile platform. The order is part of high-power laser system meant for anti-drone and anti-missile applications.

Earlier this week, Paras Defence said that it re-appointed Dr. Hina Amol Gokhale as a non-executive woman independent director of the company for a second term of five years with effect from April 01, 2025.

Paras Defence's net profit in December quarter more than doubled to ₹16.57 crore from ₹7.60 crore in the same period last year. Its revenue from operations advanced 30% to ₹82 crore from ₹63 crore in the year-ago period. Paras Defence's operating profit also known as earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 62% to ₹23 crore from ₹14 crore and its operating profit margin improved 550 basis points to 27.83%.

Paras Defence shares have advanced nearly 4% so far this year outperforming the NIFTY Microcap 250 index which has declined 17.18%, data from the National Stock Exchange showed.

As of 11:21 am, Paras Defence shares traded 5.43% higher at ₹1,005.