We are pleased to inform that Paras Defence and Space Technologies Limited ("PARAS"), has received an order from IRDE-DRDO, Ministry of Defence, Government of India valued at approximately Rs. 71.68 crores (incl GST) for supply of two Optronic Periscopes for submarine application.
PARAS · price
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Paras Defence has received an order valued at approximately Rs. 71.68 crores (including GST) from IRDE-DRDO under the Ministry of Defence, Government of India. The order is for the supply of two Optronic Periscopes intended for submarine use. This is a domestic defence order from a key Indian government research body. The periscopes are specialised optronic equipment used in submarine operations, aligning with the company's core defence manufacturing business.
This is a meaningful order win from a prestigious government defence client, reinforcing the company's standing in the domestic defence manufacturing space. Positive for revenue visibility, though the stock may have already priced in defence order flow expectations.