About Paras Defence and Space Technologies Limited

Paras Defence and Space Technologies Limited is an Indian defence and space engineering company established in 1979, headquartered near Mumbai with manufacturing units at Nerul, Navi Mumbai and Ambernath, specialising in high‑precision products and turnkey systems across optics and optronics, defence electronics, EMP protection solutions, and heavy engineering as an Indigenous Design, Development and Manufacturing partner to strategic programmes in rockets and missiles, space research, naval platforms, armoured vehicles, electronic warfare and surveillance as of March 31, 2025.

The company operates through two primary verticals—Optics & Optronic Systems, and Defence Engineering—supported by DSIR‑recognised R&D facilities in Nerul and a Bengaluru centre focusing on optics, EO/IR, defence electronics, RF/microwave, electromagnetics, and mechanical systems, with more than 90% parts locally designed and produced in alignment with Aatmanirbhar Bharat, and synergistic ties with global technology partners to manufacture cutting‑edge systems in India.

As of FY 2024-25, standalone revenue from operations was Rs 333.85 crore , profit for the year was Rs 65.06 crore, and cash and cash equivalents stood at Rs 29.91 crore, with three customers contributing Rs 211.69 crore to revenue, indicating a concentrated but scaled order book and improved operating leverage; non‑current assets are entirely located in India.

The company had 537 permanent employees on March 31, 2025, and maintains strong internal controls, risk management, and IT infrastructure, with the statutory and secretarial auditors issuing unmodified opinions and confirming no qualifications or adverse remarks for FY 2024‑25.

Subsidiaries and associates include Opel Technologies Pte. Ltd. (Singapore, 100%), Paras Aerospace Private Limited (60%), Paras Anti‑Drone Technologies Private Limited (55%), Quantico Technologies Private Limited (100%), and Mechtech Thermal Private Limited (70%), while Ayatti Innovative Private Limited (58.02%) was classified as held for sale and Paras Green UAV Private Limited ceased to be a subsidiary on March 27, 2025.

Paras Defence and Space Technologies Limited Business Segment

• Segment structure: Optics & Optronic Systems (optical components, IR lenses, EO/IR systems, submarine periscope, hyperspectral camera, opto‑mechanical assemblies, precision diamond‑turned components); Defence Engineering (defence electronics including automation/control, rugged consoles, avionics suites; heavy engineering for flow‑formed rocket/missile motor tubes, electro‑mechanical assemblies, border defence systems and turnkey projects; EMP protection solutions). 
• FY 2024‑25 segment revenue: Optics & Optronic Systems Rs 177.37 crore; Defence Engineering Rs 156.48 crore; total revenue from operations Rs 333.85 crore under “(₹ in lakh)” unit header, converted to crore. 
• Geographic split: The report discloses that non‑current assets are located in India and references revenue disaggregation by geography to Note 27.2; 

Paras Defence and Space Technologies Limited Key Management

• Sharad Virji Shah — Chairman, Non‑Executive Non‑Independent Director. 
• Munjal Sharad Shah — Managing Director. 
• Shilpa Amit Mahajan — Whole‑Time Director. 
• Harsh Dhirendra Bhansali — Chief Financial Officer. 
• Jajvalya Raghavan — Company Secretary and Compliance Officer. 

Latest Updates on Paras Defence and Space Technologies Limited

• Raised Rs 135.18 crore via Qualified Institutions Placement on October 08, 2024, issuing 12,93,604 equity shares at Rs 1,045 per share; Rs 120.00 crore utilised for working capital, Rs 5.53 crore for general corporate purposes, Rs 4.20 crore for issue expenses, with Rs 5.46 crore unutilised as of March 31, 2025; ICRA monitors utilisation per objects of the issue. 
• Divested Paras Green UAV Private Limited; Paras Green ceased to be a subsidiary on March 27, 2025, with consideration received by March 31, 2025. 
• Approved divestment of Ayatti Innovative Private Limited (58.02% stake); classified as held for sale with sale consideration receivable in installments as of March 31, 2025. 
• Granted 78,450 employee stock options in FY 2024‑25 to attract, retain, and motivate key talent aligned to growth objectives.