This small-cap drone manufacturing company receives order worth Rs 42.40 crore from Indian Farmer Fertiliser Cooperative Limited!

The stock is up by 15 per cent in just 1 month and over 30 per cent in 3 months.

Paras Anti-drone Technologies Private Limited (a subsidiary of Paras Defence and Space Technologies Limited) has received the contract for procurement of 400 units of Agri-Drones for IFFCO Nano Fertilisers, including two years AMC, totalling approx. Rs 42.40 crore (excluding applicable taxes). The order should be executed by March 31, 2024.

Paras Defence and Space Technologies (PDST) is a private sector company primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. 

On Monday, shares of Paras Defence and Space Technologies, ended the day in green, up 0.91 per cent to Rs 618.75 per share with an intraday high of Rs 630.10 and an intraday low of Rs 615.95.

This drone manufacturing company has a market cap of Rs 2,413.13 crore. The company reported positive numbers in its Quarterly Results and annual results. The net sales increased by 6.56 per cent to Rs 65 crore and net profit increased by 20 per cent to Rs 12 crore in Q4FY23 over Q4FY22. The net sales increased by 21.31 per cent to Rs 222 crore and net profit increased by 33.33 per cent to Rs 36 crore in FY23 over FY22.

The stock is up by 15 per cent in just 1 month and over 30 per cent in 3 months. Investors should keep an eye on this Small-Cap stock.