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Paras Defence And Space Technologies Ltd (PARAS)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543367 NSE: PARAS Aerospace & Defense | Small Cap | Paras Defence &Space Share Price
₹1,372.85 4.40 (0.32%)
As on 18-Sep'26 16:59
Paras Defence And Space Technologies Ltd (PARAS)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543367 NSE: PARAS Aerospace & Defense | Small Cap | Paras Defence &Space Share Price
₹1,372.85 4.40 (0.32%)
As on 18-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹11,063 Cr.
Current Price
₹1,372.9
52-Week Low / High
₹580 / 1,585
TTM EPS
₹11.7
TTM Sales
₹511 Cr.
Book Value per Share
₹87.2
P/E Ratio
117.14
Higher than its 5-year historical median
Industry PE
46
Price to Book (P/B)
15.74
Higher than its 5-year historical median
Price to Sales (P/S)
21.64
Higher than its 5-year historical median
EV/EBITDA
75.16
Higher than its 5-year historical median
Dividend Yield
0.07%
Profitability Efficiency
Return on Equity (ROE)
13.98%
Outperforms industry median
Return on Capital Employed (ROCE)
18.68%
Outperforms industry median
Return on Assets (ROA)
9.59%
Operating Profit Margin
25.5%
Net Profit Margin
18.77%
Gross Profit Margin
27.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
24.77%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
22.07%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
45.47%
Asset Quality
Promoter Holding
53.20%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹662 Cr.
Equity
₹40.3 Cr.
Face Value
₹5
All Time Low / High
₹223.55 / 1584.95
Check Before You Invest
Quality
Somewhat GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Semi Strong
Is Paras Defence And Space Technologies Ltd a good quality company?
Paras Defence And Space Technologies Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Paras Defence And Space Technologies Ltd performance compare with that of its Peers?
Revenue growth of Paras Defence And Space Technologies Ltd vs industry peers?
Paras Defence And Space Technologies Ltd revenue CAGR is 27.16%, compared to the industry median CAGR of 3.11%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Paras Defence And Space Technologies Ltd?
Promoters hold 53.20% of the Paras Defence And Space Technologies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Paras Defence And Space Technologies Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 54.7% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Paras Defence And Space Technologies Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 25.5% | 21.3% | 15% | 13.9% | 14.1% | 14.6% | 12.6% | 18.2% | 17.9% | - |
| Value Creation Index ⓘ | 0.9 | 0.6 | 0.1 | 0.0 | 0.0 | 0.1 | -0.1 | 0.3 | 0.3 | - |
Growth Parameters ⓘ |
||||||||||
| Sales ⓘ | 143 | 154 | 147 | 133 | 180 | 214 | 232 | 334 | 417 | 447 |
| Sales YoY Gr. | - | 7.9% | -5.1% | -9.4% | 35.5% | 19% | 8.5% | 43.6% | 24.8% | - |
| Adj EPS ⓘ | 4.4 | 3.2 | 3.6 | 2.6 | 3.5 | 4.6 | 4.4 | 8 | 10.3 | 11.1 |
| YoY Gr. | - | -27.1% | 11.2% | -28.6% | 35.7% | 34.1% | -5.2% | 82.1% | 29% | - |
| BVPS (₹) ⓘ | 14.7 | 19.5 | 23.1 | 27.6 | 43.1 | 47.6 | 51.9 | 74.6 | 84.4 | 87.1 |
| Adj Net Profit ⓘ | 24.6 | 18.2 | 20.3 | 15.3 | 27 | 36.2 | 34.3 | 64.6 | 83.3 | 89 |
| Cash Flow from Ops. ⓘ | 42.2 | -12 | -2.2 | 3.7 | 12.8 | 49.5 | -17.2 | 28.6 | 30.8 | - |
| Debt/CF from Ops. ⓘ | 1.6 | -7.1 | -47.8 | 28.4 | 2.3 | 0 | -2 | 0 | 0 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 25.7% | 24.8% | 24.8% | ||||
| Adj EPS ⓘ | NA | 32.3% | 30.6% | 29% | ||||
| BVPSⓘ | NA | 25.1% | 21% | 13.1% | ||||
| Share Price | - | - | 56.7% | 83.6% | ||||
Key Financial Parameters ⓘ
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 19.8 | 13.2 | 12.5 | 8 | 9.3 | 9.2 | 8 | 11.8 | 12.2 | 12.9 |
| Op. Profit Mgn % ⓘ | 28.8 | 28.1 | 27.5 | 32.8 | 29 | 26.4 | 23 | 29.1 | 26.9 | 26.6 |
| Net Profit Mgn % ⓘ | 17.2 | 11.8 | 13.9 | 11.5 | 15 | 16.9 | 14.8 | 19.3 | 20 | 19.9 |
| Debt to Equity ⓘ | 0.8 | 0.8 | 0.8 | 0.6 | 0.1 | 0 | 0.1 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 282 | 410 | 500 | 418 | 430 | 540 | 501 | 484 | 242 |
| Cash Conv. Cycle ⓘ | 0 | 132 | 237 | 364 | 317 | 313 | 349 | 322 | 335 | 168 |
Valuation of Paras Defence &Space - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 143 | 154 | 147 | 143 | 183 | 222 | 253 | 365 | 477 |
| Operating Expenses ⓘ + | 102 | 111 | 107 | 99 | 130 | 165 | 200 | 265 | 355 |
| Operating Profit ⓘ | 41 | 43 | 40 | 44 | 52 | 58 | 54 | 100 | 121 |
| Operating Profit Margin (%) | 28.8% | 28.0% | 27.0% | 30.7% | 28.7% | 25.9% | 21.1% | 27.3% | 25.5% |
| Other Income ⓘ + | 3 | 3 | 2 | 1 | 3 | 8 | 8 | 8 | 17 |
| Interest ⓘ | 7 | 10 | 10 | 13 | 8 | 8 | 8 | 9 | 7 |
| Depreciation ⓘ | 7 | 9 | 10 | 10 | 10 | 11 | 13 | 15 | 17 |
| Profit Before Tax ⓘ | 30 | 27 | 22 | 23 | 37 | 47 | 40 | 84 | 118 |
| Tax ⓘ | 5 | 8 | 2 | 7 | 9 | 11 | 10 | 22 | 28 |
| Profit After Tax | 25 | 19 | 20 | 16 | 27 | 36 | 30 | 61 | 89 |
| PAT Margin (%) | 17.5% | 12.3% | 13.4% | 11.0% | 14.8% | 16.2% | 11.9% | 16.9% | 18.8% |
| Adjusted EPS (₹) | 4.5 | 3.3 | 3.5 | 2.6 | 3.5 | 4.6 | 4.1 | 7.9 | 10.9 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 6.40% | 9.20% |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 124 | 152 | 173 | 207 | 378 | 413 | 445 | 640 | 724 | ||
| Debt + | 60 | 76 | 97 | 96 | 31 | 14 | 64 | 23 | 26 | ||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -3 | -0 | ||
| Trade Payables | 23 | 53 | 27 | 15 | 15 | 26 | 61 | 55 | 57 | ||
| Others Liabilities ⓘ | 50 | 48 | 46 | 45 | 33 | 67 | 84 | 156 | 189 | ||
| Total Liabilities ⓘ | 257 | 330 | 342 | 363 | 458 | 521 | 652 | 870 | 996 | ||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 171 | 168 | 158 | 157 | 136 | 153 | 186 | 190 | 190 | ||
| CWIP ⓘ | 1 | 3 | 5 | 1 | 0 | 5 | 4 | 11 | 16 | ||
| Investments ⓘ | 0 | 0 | 0 | 1 | 4 | 12 | 22 | 28 | 33 | ||
| Inventories | 44 | 65 | 60 | 75 | 67 | 93 | 150 | 151 | 160 | ||
| Trade Receivables | 25 | 83 | 98 | 95 | 123 | 150 | 198 | 295 | 363 | ||
| Cash Equivalents | 3 | 2 | 4 | 8 | 76 | 40 | 11 | 111 | 119 | ||
| Others Assets ⓘ | 12 | 9 | 17 | 27 | 52 | 68 | 80 | 85 | 116 | ||
| Total Assets ⓘ | 257 | 330 | 342 | 363 | 458 | 521 | 652 | 870 | 996 | ||
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 41 | -12 | -3 | 4 | 12 | 46 | -46 | 45 | 25 |
| Cash Flow From Investing Activity ⓘ + | -49 | -10 | -5 | -6 | -77 | 10 | -2 | -87 | -17 |
| Cash Flow From Financing Activity ⓘ + | 8 | 21 | 9 | 5 | 63 | -41 | 33 | 74 | -17 |
| Net Cash Flow ⓘ | -1 | -0 | 1 | 3 | -2 | 15 | -14 | 31 | -9 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 30.58 | 19.71 | 16.29 | 10.68 | 10.81 | 10.16 | 7.76 | 12.29 | 13.98 | |
| ROCE (%) | 25.46 | 21.27 | 14.9 | 14.14 | 14.15 | 14.49 | 11.34 | 17.03 | 18.68 | |
| Asset Turnover Ratio | 0.58 | 0.53 | 0.44 | 0.41 | 0.44 | 0.45 | 0.43 | 0.48 | 0.51 | |
| PAT to CFO Conversion(x) | 1.64 | -0.63 | -0.15 | 0.25 | 0.44 | 1.28 | -1.53 | 0.74 | 0.28 | |
| Working Capital Days | ||||||||||
| Receivable Days | 61.90 | 128.30 | 224.40 | 245.10 | 217.80 | 223.90 | 250.40 | 246.60 | 251.90 | |
| Inventory Days | 107.10 | 128 | 155.10 | 172.10 | 141.30 | 131.30 | 175.40 | 150.70 | 118.90 | |
| Payable Days | 106.70 | 165.70 | 201.20 | 118.40 | 68.30 | 71.70 | 131.80 | 123.90 | 85.50 | |
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Paras Defence And Space Technologies Ltd FAQs
The current trading price of Paras Defence &Space on 18-Sep-2026 16:59 is ₹1,372.9.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Sep-2026 the market cap of Paras Defence &Space stood at ₹11,063.4 Cr
The latest P/E ratio of Paras Defence &Space as of 17-Sep-2026 is 124.1.
The latest P/B ratio of Paras Defence &Space as of 17-Sep-2026 is 15.77.
The 52-week high of Paras Defence &Space is ₹1,585 and the 52-week low is ₹580.0.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Paras Defence &Space is ₹447 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Paras Defence And Space Technologies Ltd is a average quality company.
The key valuation ratios of Paras Defence And Space Technologies Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Paras Defence And Space Technologies Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Paras Defence And Space Technologies Ltd
Paras Defence And Space Technologies is an Indian private sector company engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. It is one of the leading ‘Indigenously Designed Developed and Manufactured’(IDDM) category private sector companies in India, which caters to four major segments of Indian defence sector i.e. defence and space optics, defence electronics, electro-magnetic pulse (EMP) protection solution and heavy engineering. It is also the sole Indian supplier of critical imaging components such as large size optics and diffractive gratings for space applications in India.
The company has five principal categories of product offerings: defence and space optics, defence electronics, EMP protection, heavy engineering for defence and niche technologies. Its defence and space optics operations include manufacturing high precision optics for defence and space applications such as thermal imaging and space imaging systems. It is one of the leading providers of optics for various Indian defence and space programmes, and the only Indian company with the design capability for space-optics and opto-mechanical assemblies. Its defence electronics operations include providing a wide array of high performance computing and electronic systems for defence applications, including sub systems for border defence, missiles, tanks and naval applications. The company has two manufacturing facilities in Maharashtra, located at Nerul in Navi Mumbai and Ambernath in Thane. Its Nerul facility is an advanced nano technology machining centre for producing high quality optics and ultra -precision components and is engaged in manufacturing of Optics, Design, Development, Manufacturing and Integration of Electronics and EMP protection products and solutions.
Business area of the company
The company is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company has five major product category offerings - Defence & Space Optics, Defence Electronics, Heavy Engineering, Electromagnetic Pulse Protection Solutions, and Niche Technologies.
Awards and accreditations
- 2017: The company received a certificate of appreciation by Bharat Electronic, Naval Systems (S&CS) SBU for meeting the quality standards and timely supplies.
- 2020: The company received a certificate of recognition for outstanding contribution in quality and excellence in realm of customer satisfaction in India 5000 Best MSME Awards.
- 2020: The company’s manufacturing facilities at Ambernath and Nerul have been accredited with quality management system certificate for compliance with ISO 9001:2015 requirements.
- 2020: The company has been accredited with ISO 14001:2015 and ISO 45001:2018 for the environment management system and occupational, health and safety management system, respectively.
Major events and milestones
- 2009: Incorporation of the company.
- 2015: Bagged an order for developing electronic control system.
- 2016: Started developing and manufacturing optics for space.
- 2017: Secured order for developing and manufacturing EMP racks.
- 2018: Expanded the presence of the company in Bangalore.
- 2018: Amalgamation of Mechvac India and Concept Shapers and Electronics with the company
- 2019: Established the subsidiary, Paras Aerospace, to venture into drone systems and services
- 2020: MDAVF made an investment in the company.
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