PARAS DEF AND SPCE TECH L

Designs and manufactures defence engineering products and optics/optronic systems, with the two segments contributing roughly equally to FY26 segment revenue. Defence Engineering accounted for Rs 217.44 crore (52.2% of segment revenue) and Optics and Optronic Systems for Rs 199.10 crore (47.8%). Optics and Optronic Systems was the more profitable segment on an EBIT basis, generating Rs 88.13 crore against Rs 49.27 crore from Defence Engineering. The product range spans electro-optics for defence and surveillance, and the company has a subsidiary (Paras Semiconductors) that signed an MoU for an OSAT semiconductor packaging facility with a proposed investment of Rs 6,200 crore. Customers include defence public-sector undertakings such as Bharat Electronics Limited (a recent order of Rs 52.82 crore for electro-optics), India's Ministry of Defence ecosystem, and a US-based private space company that placed orders for large cryogenic tanks for submarine applications. Materials are the largest cost component at 44.6% of revenue, followed by other operating expenses at 14.5% and employee costs at 10.2%. The business reported FY26 consolidated revenue of Rs 476.57 crore with a net profit of Rs 89.46 crore and an EBITDA margin of 29.24%, and the Board recommended a Rs 1 per share dividend after completing a stock split.