Defence Drone Company Signs MoU with Prominent Israel Defence Company
The stock is up by 54 per cent from its 52-week low of Rs 645 per share.
Paras Defence & Space Technologies Limited has signed a Memorandum of Understanding (MoU) with MicroCon Vision Ltd. (MicroCon), part of CONTROP and the Rafael Group, Israel. MicroCon possesses experience and expertise in the design, development, production, and marketing of ISR (Intelligence, Surveillance, and Reconnaissance) payloads and EO/IR (Electro-Optical/Infra-Red) seekers for Drones and Unmanned Aerial Vehicles. Paras and MicroCon will be exclusive partners in India, collaborating on Micro ISR payloads. Kindly take the above information on record and acknowledge receipt.
Earlier, the company has secured a significant domestic order from the Center for High Energy Systems & Sciences (CHESS), DRDO, Ministry of Defence, for the development of a Laser Source Module and its integration with a Beam Control System (BCS) on a mobile platform, valued at approximately Rs 142.31 crore (including taxes). This project, part of a larger High-Power Laser System initiative, aims to enhance India's anti-drone and anti-missile capabilities and is expected to be completed within 24 months.
About the Company
Paras Defence and Space Technologies Ltd (PDST) is a leading private Indian company in the defence and space sector. They design, develop, manufacture, and test a wide range of products and solutions for these critical fields. PDST caters to four main areas: Defence & Space Optics, Defence Electronics, Heavy Engineering, and Electromagnetic Pulse (EMP) Protection Solutions. This specialization allows them to serve a diverse clientele. They supply their products to both government and private entities.
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Some of their government clients include prestigious organizations like the Indian Defence Force (IDF), Defence Research and Development Organisation (DRDO), Bharat Electronics Limited (BEL), Indian Space Research Organisation (ISRO), Hindustan Aeronautics Limited (HAL), and various shipyards. In the private sector, they partner with companies like Godrej, Tata Power, Larsen & Toubro, Kirloskar, TCS, and Solar Industries. Their reach extends beyond India as well, with international clients including Israel Aerospace Industries, Rafale Advanced Defence Systems, and Elbit Systems.
The company has a market cap of over Rs 3,900 crore with a 1-year stock price CAGR of 95 per cent. The stock is up by 54 per cent from its 52-week low of Rs 645 per share. Investors should keep an eye on this small-cap aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.