Abu Dhabi Investment-Backed Defence Company Wins ADITI 1.0 Challenge for Mobile Ground Station Development, Secures Up to 50 Per cent Grant for Product Development!
The company’s shares have delivered an impressive return of around 50 per cent in the past 1 year only.
Paras Anti-Drone Technologies Private Limited, a Subsidiary of Paras Defence and Space Technologies, is the proud winner of ADITI 1.0 Challenge for "Mobile Ground Station in S/X/Ka band for Transmitting and Receiving Data from Satellites".
This challenge was initiated by the Defence Innovation Organisation (DIO) under the Department of Defence Production (DDP) within the Ministry of Defence, Government of India, as part of the ADITI scheme (Acing Development of Innovative Technologies with iDEX), which promotes innovations in critical and strategic defence technologies.
As part of this scheme, Paras Anti-Drone Technologies is eligible for a grant of up to 50 per cent of the Product Development Budget (PDB), with a maximum limit of Rs 25 crore. Following this recognition, the company will develop a cutting-edge Mobile Ground Station system that utilizes advanced phased array technology to meet the next-generation requirements for high-data-rate connectivity and multi-satellite tracking.
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Paras Defence and Space Technologies is a Small-Cap defence company’s stock rallied and hit the upper circuit today. 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.
Today, the shares of Paras Defence and Space Technologies rallied around 5 per cent hit the upper circuit, and finally closed around Rs 1072.70 per share on the BSE. The company’s current market capitalization stands at Rs 4184 crore. Additionally, the company’s shares have delivered a return of over 50 per cent in the past 6 months only.
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 with an operating profit margin of 29 per cent. 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.
According to the company’s shareholding pattern, promoters hold 58.94 per cent, the public holds 38 per cent, and FIIs have increased their stake from 0.13 per cent to 2.97 per cent. Meanwhile, DIIs' stake stood at 0.07 per cent, down from 2.75 per cent in the June quarter.
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Disclaimer: The article is for informational purposes only and not investment advice.