5% Upper Circuit: Defence Stock Awarded New Order After Q2 Net Profit Surged 45%

Paras Defence and Space Technologies Ltd shares today hit 5% upper circuit after the company received an order worth Rs 42.05 crore from Opto Electronics Factory (OLF). Current market price of Paras Defence and Space Technologies shares on BSE is Rs 1008.35 per share. The company's market capitalisation stood at Rs 4063.01 crore. It operates in aerospace and defence industry. Paras Defence shares gained over 38% in last 6-months and slipped 22% in last 3-months. Check key details below:

Paras Defence and Space Technologies Bags New Order:

As per the exchange filing of the company dated October 30, 2024, "In terms of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations"), we are pleased to inform you that Paras Defence and Space Technologies Limited ('the Company"), has received an order from Opto Electronics Factory ("OLF"), a Unit of India Optel Ltd., Govt. of India Enterprise, Ministry of Defence, Dehradun, valued at approximately Rs. 42.05 Crores (plus taxes) for supply of 5 types of Electronic Control Sub-Systems used in Thermal Imaging Fire Control System (TIFCS) delivered by OLF to Indian Armed Forces."

Paras Defence and Space Technologies Shares Performance:

The 52-week high price of Paras Defence and Space Technologies shares on BSE is Rs 1592.75 per share (as on 05/07/2024) and 52-week low price is Rs 608.75 per share (as on 28/03/2024), respectively. Paras Defence and Space Technologies shares fell over 8% in last 1-month, surged 47% in last 1-year, and rallied over 7% in last 3-years.

Paras Defence and Space Technologies Q2 Results:

The company declared a surge of 45% YoY in its net profit for the quarter ended September 30, 2024 and managed to beat analysts' estimates. The defence company announced its consolidated net profit for the quarter ended September 30, 2024 at Rs 12.70 crore as against Rs 8.76 crore declared in the corresponding quarter of last years. Its revenue from operations zoomed 42% to Rs 87.09 crore for the September 2024 quarter. The company's operating income jumped 46% YoY to Rs 22.75 crore for the quarter under review.

Shareholding:

FII/FPI have increased holdings from 0.13% to 2.97% in June 2024 quarter. Number of FII/FPI investors increased from 13 to 16 in June 2024 quarter. Institutional Investors have increased holdings from 2.88% to 3.04% in June 2024 quarter. Mutual Funds have decreased holdings from 2.75% to 0.06% in June 2024 quarter. Abu dhabi investment authority - monsoon has 2.44% stake in Paras Defence, according to Trendlyne.

Paras Defence and Space Technologies About:

Paras Defence & Space Technologies offers a wide range of Products & Solutions for Defence & Space Applications. With focus on Defence & Space Sector we have two verticals of our business, namely Optics & Optronic Systems & Defence Engineering (comprising of Defence Electronics, EMP Protection Solutions & Heavy Engineering), according to its BSE filing.

Disclaimer:

The stock highlights the dividend and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.