Aerospace and Defence Company Secures Order Worth Rs 305 Crore from Larsen & Toubro: FIIs Bought 11,07,601 Shares!

The company’s shares have delivered an impressive return of over 80 per cent in the past 1 year.

This Small-Cap defence company is engaged in the design, development, manufacturing, and testing of defence and space engineering products and solutions. The company operates across four major segments: Defence & Space Optics, Defence Electronics, Heavy Engineering, and Electromagnetic Pulse Protection Solutions.

Controp-Paras Technologies Private Limited, an associate company of Paras Defence and Space Technologies, has secured an order from Larsen & Toubro Limited (L&T) valued at approximately Rs 305 crore (plus taxes). This order includes the manufacturing and supply of 244 Sight – 25HD EO (Electro-Optics) Systems, along with extended warranty charges and an Integrated Logistics Support (ILS) package, for L&T's Close-In Weapon System (CIWS) program.

On Wednesday, the shares of Paras Defence and Space Technologies closed at around Rs 1149.95 per share on the BSE. The company’s current market capitalization stands at Rs 4484.81 crore. Additionally, the company’s shares have delivered a return of over 80 per cent in the past year.

As per the Quarterly Results, in the Q1 FY25, Paras Defence and Space Technologies recorded a revenue of Rs 84 crore compared to Rs 48 crore. The operating profit stood at Rs 24 crore. The net profit stood at Rs 14 crore compared to a profit of Rs 6 crore. Looking at the annual performance, the company generated a revenue of Rs 254 crore in FY24. The operating profit for FY24 was Rs 51 crore with a net profit of Rs 30 crore compared to a net profit of Rs 36 crore in FY23.

In Q1 FY25, FIIs purchased 11,07,601 shares, increasing their shareholding from 0.13 per cent to 2.97 per cent.

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Investors must keep this stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.