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Paras Defence and Space Technologies Q2 FY27 results: net profit up 57.0% to ₹30.56 crore, revenue up 42.9%
Paras Defence and Space Technologies Limited reported consolidated revenue of ₹151.12 crore and a net profit of ₹30.56 crore for Q2 FY27, with EBITDA margin at 29.5%. Revenue rose 42.9% and net profit 57.0% from Q2 FY26; basic EPS was ₹3.76. The standalone revenue was ₹147.32 crore and profit was ₹30.43 crore.
Key points
- Consolidated revenue was ₹151.12 crore in Q2 FY27, up 42.9% from Q2 FY26.
- EBITDA was ₹44.52 crore, up 49.9% year on year, with the margin at 29.5%.
- Net profit was ₹30.56 crore, compared with ₹19.46 crore in Q2 FY26; basic EPS was ₹3.76.
- In H1 FY27, revenue was ₹279.03 crore and net profit was ₹51.3 crore.
- Operating cash flow for H1 FY27 was ₹86.44 crore, compared with negative ₹14.09 crore in H1 FY26.
How did Paras Defence and Space Technologies perform in Q2 FY27?
Paras Defence and Space Technologies reported consolidated revenue of ₹151.12 crore in Q2 FY27, up ₹45.40 crore or 42.9% from ₹105.72 crore in Q2 FY26. Total income rose 42.0% to ₹153.34 crore, while EBITDA increased 49.9% to ₹44.52 crore and the EBITDA margin was 29.5%.
Profit before tax rose 53.6% to ₹40.82 crore and net profit increased 57.0% to ₹30.56 crore. Basic EPS was ₹3.76, compared with ₹2.56 in the year-ago quarter. Against Q1 FY27, revenue rose 18.1%, EBITDA rose 39.5% and net profit rose 47.3%.
On a standalone basis, Q2 FY27 revenue was ₹147.32 crore and profit was ₹30.43 crore. The filing states that the board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026, with an unmodified auditor review opinion.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 151.12 | 127.91 | 105.72 | +42.9% | +18.1% |
| Other income | 2.22 | 1.94 | 2.28 | −2.6% | +14.4% |
| Total expenses | 112.52 | 101.83 | 81.42 | +38.2% | +10.5% |
| EBITDA | 44.52 | 31.91 | 29.69 | +49.9% | +39.5% |
| EBITDA margin | 29.5% | 24.9% | 28.1% | +1.4 pp | +4.6 pp |
| Profit before tax | 40.82 | 28.02 | 26.58 | +53.6% | +45.7% |
| Tax | 10.26 | 7.28 | 7.12 | +44.1% | +40.9% |
| Net profit | 30.56 | 20.74 | 19.46 | +57.0% | +47.3% |
| EPS (₹) | 3.76 | 2.63 | 2.56 | +46.9% | +43.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Paras Defence and Space Technologies' costs and profit?
Total expenses increased 38.2% to ₹112.52 crore from ₹81.42 crore in Q2 FY26. Cost of materials consumed rose 94.0% to ₹70.75 crore and employee cost rose 38.8% to ₹15.36 crore, while depreciation rose 20.8% to ₹5.06 crore. Other expenses fell 40.3% to ₹10.91 crore and finance costs declined 28.3% to ₹0.86 crore.
Other income was ₹2.22 crore, compared with ₹2.28 crore in Q2 FY26. There was no exceptional item in either quarter. Tax expense rose 44.1% to ₹10.26 crore from ₹7.12 crore. The filing does not state a reason for the changes in the cost lines or tax.
Against Q1 FY27, total expenses rose 10.5% to ₹112.52 crore, with cost of materials consumed at ₹70.75 crore, employee cost at ₹15.36 crore and other expenses at ₹10.91 crore. Other income rose to ₹2.22 crore from ₹1.94 crore, and tax expense rose to ₹10.26 crore from ₹7.28 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 70.75 | 36.47 | +34.28 | +94.0% |
| Employee cost | 15.36 | 11.07 | +4.29 | +38.8% |
| Finance costs | 0.86 | 1.20 | −0.34 | −28.3% |
| Depreciation | 5.06 | 4.19 | +0.87 | +20.8% |
| Other expenses | 10.91 | 18.26 | −7.35 | −40.3% |
| Total expenses | 112.52 | 81.42 | +31.10 | +38.2% |
| Other income | 2.22 | 2.28 | −0.06 | −2.6% |
| Tax | 10.26 | 7.12 | +3.14 | +44.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹279.03 crore, compared with ₹198.91 crore in H1 FY26. Total income was ₹283.19 crore, compared with ₹203.57 crore, while profit before tax rose to ₹68.84 crore from ₹46.1 crore.
H1 FY27 net profit was ₹51.3 crore, compared with ₹33.73 crore in H1 FY26, and basic EPS was ₹6.39 compared with ₹4.41. The company filed standalone and consolidated financial results for the half year ended 30 September 2026, and the statutory auditors issued a limited review report with an unmodified opinion.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 279.03 | 198.91 | +40.3% |
| Profit before tax | 68.84 | 46.10 | +49.3% |
| Net profit | 51.30 | 33.73 | +52.1% |
| EPS (₹) | 6.39 | 4.41 | +44.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1090.63 crore, compared with ₹964.7 crore at 31 March 2026. Total equity rose to ₹770.07 crore from ₹725.19 crore, borrowings increased to ₹27.63 crore from ₹26.61 crore and cash stood at ₹26.91 crore against ₹25.35 crore. Inventories rose to ₹193.79 crore from ₹159.62 crore, trade receivables to ₹372.06 crore from ₹362.96 crore and trade payables to ₹71.18 crore from ₹57.23 crore.
H1 FY27 operating cash flow was ₹86.44 crore, compared with negative ₹14.09 crore in H1 FY26. Investing cash flow was negative ₹56.83 crore against negative ₹28.27 crore, financing cash flow was negative ₹28.04 crore against positive ₹17.91 crore, and capital expenditure was ₹13.31 crore compared with ₹25.22 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,091 | 964.70 |
| Total equity | 770.07 | 725.19 |
| Borrowings | 27.63 | 26.61 |
| Cash and equivalents | 26.91 | 25.35 |
| Inventories | 193.79 | 159.62 |
| Trade receivables | 372.06 | 362.96 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 86.44 | −14.09 |
| Cash from investing | −56.83 | −28.27 |
| Cash from financing | −28.04 | 17.91 |
| Capital expenditure | 13.31 | 25.22 |
Source: Company's results filing (XBRL).
How has Paras Defence and Space Technologies done over the last 8 quarters?
Revenue reached its highest level in Q4 FY26 at ₹171.31 crore and its lowest level in Q3 FY25 at ₹85.77 crore. It fell to ₹127.91 crore in Q1 FY27 and then rose to ₹151.12 crore in Q2 FY27, while revenue rose year on year in each of the last eight quarters.
Net profit peaked at ₹38.88 crore in Q4 FY26 and was lowest at ₹13.85 crore in Q3 FY25. It recovered from ₹20.74 crore in Q1 FY27 to ₹30.56 crore in Q2 FY27, and profit rose year on year in each of the last eight quarters. The EBITDA margin reached 29.5% in Q2 FY27, above the 24.7% low in Q3 FY26.
Which businesses drove the quarter?
Optics and Optronic Systems reported revenue of ₹74.65 crore in Q2 FY27, up 94.2% from ₹38.44 crore in the year-ago quarter. Segment EBIT was ₹45.01 crore, compared with ₹18.65 crore, and the EBIT margin was 60.3%.
Defence Engineering reported revenue of ₹76.47 crore, up 13.7% from ₹67.28 crore in Q2 FY26. Segment EBIT was ₹6.88 crore, compared with ₹16.86 crore, with an EBIT margin of 9.0%. The filing excerpts do not state reasons for the changes in either segment.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Optics and Optronic Systems | 74.65 | +94.2% | 45.01 | 60.3% |
| Defence Engineering | 76.47 | +13.7% | 6.88 | 9.0% |
Source: Company's results filing (XBRL segment data).
How did Paras Defence and Space Technologies shares react?
The filing appeared in the market and the stock rose 2.3% after 5 minutes, 1.8% after 15 minutes and 2.1% after 30 minutes. From the pre-results close of ₹1299.9, it closed the reaction day up 2.4% at a base price of ₹1286.8. By the next day's close, the stock was down 4.5% from that pre-results close.
Earlier reaction-day moves were negative on 7 August 2026 at 3.3%, 13 May 2026 at 1.8%, 23 January 2026 at 4.4%, 25 July 2025 at 4.0% and 30 April 2025 at 1.4%; they were positive on 13 November 2025 at 2.3% and 28 October 2024 at 3.7%.
| After the filing | Stock | Aerospace & Defense median |
|---|---|---|
| 5 minutes | +2.3% | |
| 15 minutes | +1.8% | |
| 30 minutes | +2.1% | |
| Reaction day | +2.4% | +1.1% |
| Next day | −4.5% | −2.9% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 7 August 2026 | −3.3% |
| 13 May 2026 | −1.8% |
| 23 January 2026 | −4.4% |
| 13 November 2025 | +2.3% |
| 25 July 2025 | −4.0% |
| 30 April 2025 | +0.9% |
| 8 February 2025 | −1.4% |
| 28 October 2024 | +3.7% |
Source: MarketPing price-reaction measurement.
How did other Aerospace & Defense companies do?
Nine other Aerospace & Defense companies had filed for the quarter by 4 November 2026, with a median revenue growth of 34.3%. Five grew slower than Paras Defence and Space Technologies, while four grew faster. The company's revenue growth was 42.9%.
Among the seven peers for which profit was compared, seven reported higher profit. The peer comparison therefore showed growth in profit across all seven companies for which the figure was available.
| Paras Defence and Space Technologies revenue growth (YoY) | +42.9% |
|---|---|
| Median of 9 other Aerospace & Defense companies | +34.3% |
| Companies with slower revenue growth than Paras Defence and Space Technologies | 5 of 9 |
| Companies with faster revenue growth than Paras Defence and Space Technologies | 4 of 9 |
| Companies whose net profit rose | 7 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Paras Defence and Space Technologies' revenue in Q2 FY27?
Revenue from operations was ₹151.12 crore, up 42.9% from ₹105.72 crore in Q2 FY26 (consolidated).
Did Paras Defence and Space Technologies make a profit in Q2 FY27?
Yes. Net profit was ₹30.56 crore, against a net profit of ₹19.46 crore in Q2 FY26.
What was Paras Defence and Space Technologies' EPS in Q2 FY27?
Basic earnings per share were ₹3.76, against ₹2.56 in Q2 FY26.
How did Paras Defence and Space Technologies shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.4% from the previous close; the median Aerospace & Defense stock moved +1.1%.
When did Paras Defence and Space Technologies announce its Q2 FY27 results?
On 29 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Financial Results For The Quarter Ended September 30, 2026 (BSE, 24 October 2026) · PDF
- Outcome of Board Meeting (NSE, 29 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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