Multibagger aerospace & defence stock hit upper circuit after company reports an order win of Rs 42.05 crores from Ministry of Defence
On Wednesday, the shares of Paras Defence and Space Technologies hit upper circuit with 5 per cent gains at Rs 1,007.90 per share on the BSE
Paras Defence and Space Technologies has won an order valued at approximately Rs 42.05 crore (plus taxes) from the Opto Electronics Factory (OLF), a unit of India Optel Ltd. under the Ministry of Defence, Government of India. The order involves the supply of five types of Electronic Control Sub-Systems used in the Thermal Imaging Fire Control System (TIFCS) for delivery to the Indian Armed Forces.
On Wednesday, the shares of Paras Defence and Space Technologies hit the upper circuit with 5 per cent gains at Rs 1,007.90 per share on the BSE. The company’s current market capitalization stands at Rs 4,061.21 crore. Additionally, the company’s shares have delivered a return of over 80 per cent in the past year.
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Q2 FY25 Highlights
As per the quarterly results, in Q2 FY25, Paras Defence reported revenue growth of 42 per cent at Rs 87 crore, up from Rs 76 crore in the same quarter last year. Earnings before interest, taxes, depreciation, and amortization rose by 46 per cent year-on-year to Rs 22.75 crore. The company has experienced margin expansion, with its EBITDA margin expanding by 80 basis points to 26.1 per cent compared to Q2 FY24. The company’s net profits saw a 45 per cent increase, reaching Rs 12.70 crore, up from Rs 8.76 crore.
During the quarter, Foreign Institutional Investors (FIIs) increased their holdings to 13,52,064 shares, raising their stake from 2.97 per cent to 3.46 per cent.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.