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Paras Defence and Space Technologies (PARAS)₹1,256+0.58%Aerospace & Defense
In the Sep 2026 quarter (consolidated), Paras Defence and Space Technologies reported sales of ₹151 Cr, up 42.6% from Sep 2025, and net profit of ₹30.96 Cr, up 63.2% year on year. For the year to Mar 2026, sales were ₹475 Cr and net profit ₹88.80 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 63.79 | 79.70 | 83.76 | 86.67 | 85.78 | 108 | 92.71 | 106 | 106 | 170 | 128 | 151 |
| Expenses | 51.98 | 66.97 | 58.99 | 63.96 | 64.04 | 80.06 | 71.02 | 76.04 | 79.94 | 129 | 96.02 | 107 |
| Operating Profit | 12.02 | 12.02 | 24.03 | 23.04 | 22.01 | 28.05 | 22.03 | 30.05 | 26.01 | 43.07 | 32.06 | 45.04 |
| OPM % | 18.9% | 15.0% | 28.9% | 25.9% | 25.9% | 26.0% | 23.0% | 27.9% | 24.9% | 24.9% | 25.0% | 28.9% |
| Other Income | 0.99 | 5.99 | 0.99 | 1.99 | 1.99 | 4.01 | 1.99 | 1.99 | 1.99 | 11.99 | 1.99 | 1.99 |
| Interest | 2.01 | 2.01 | 2.01 | 3.01 | 1.01 | 2.01 | 1.01 | 1.01 | 1.01 | 2.01 | 1.01 | 1.01 |
| Depreciation | 3.01 | 3.01 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 4.02 | 5.02 |
| Profit before tax | 7.99 | 11.99 | 19.97 | 17.97 | 18.97 | 26.97 | 18.99 | 26.95 | 22.97 | 47.98 | 27.97 | 40.94 |
| Tax % | 30.1% | 21.1% | 28.1% | 30.1% | 28.1% | 22.1% | 27.0% | 27.1% | 27.1% | 20.0% | 26.1% | 25.1% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.22 | 0.00 | 0.00 |
| Net Profit | 5.99 | 9.99 | 13.97 | 12.99 | 13.98 | 20.97 | 13.97 | 18.97 | 16.97 | 38.91 | 20.98 | 30.96 |
| EPS (Rs) | 0.86 | 1.29 | 1.91 | 1.79 | 1.88 | 2.46 | 1.85 | 2.57 | 2.27 | 4.28 | 2.64 | 3.77 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 154 | 147 | 143 | 183 | 221 | 253 | 364 | 475 | 554 |
| Expenses | 111 | 107 | 99.05 | 130 | 165 | 200 | 265 | 354 | 412 |
| Operating Profit | 43.02 | 40.07 | 44.06 | 52.07 | 58.03 | 53.07 | 100 | 122 | 146 |
| OPM % | 28.0% | 26.9% | 31.0% | 28.9% | 25.9% | 21.0% | 27.0% | 25.9% | 26.4% |
| Other Income | 3.01 | 1.99 | 1.01 | 3.01 | 7.99 | 7.99 | 8.01 | 18.98 | 17.96 |
| Interest | 10.04 | 10.04 | 13.04 | 8.02 | 8.02 | 8.03 | 9.03 | 7.02 | 5.04 |
| Depreciation | 9.03 | 10.03 | 10.03 | 10.04 | 11.05 | 13.06 | 15.06 | 17.07 | 17.08 |
| Profit before tax | 26.98 | 21.99 | 22.96 | 36.95 | 46.97 | 39.95 | 83.91 | 118 | 140 |
| Tax % | 29.1% | 10.1% | 30.0% | 26.1% | 23.1% | 26.1% | 26.1% | 24.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.99 | 3.99 | 2.22 |
| Net Profit | 18.98 | 19.98 | 15.98 | 26.98 | 35.94 | 29.96 | 60.91 | 88.80 | 108 |
| EPS (Rs) | 3.34 | 3.47 | 2.64 | 3.48 | 4.63 | 4.12 | 7.89 | 10.95 | 12.96 |
| Dividend payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 6.0% | 5.0% | — |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 6.02 | 28.06 | 30.02 | 39.02 | 39.03 | 39.05 | 40.05 | 40.09 |
| Reserves | 147 | 144 | 177 | 339 | 374 | 406 | 601 | 686 |
| Borrowings | 85.18 | 103 | 106 | 31.01 | 15.00 | 66.02 | 24.00 | 27.03 |
| Other Liabilities | 91.84 | 65.68 | 49.75 | 47.77 | 92.56 | 128 | 187 | 211 |
| Total Liabilities | 330 | 342 | 363 | 458 | 520 | 640 | 852 | 964 |
| Fixed Assets | 168 | 158 | 157 | 154 | 171 | 186 | 190 | 191 |
| CWIP | 2.99 | 4.98 | 0.99 | 0.00 | 4.99 | 3.99 | 10.97 | 15.95 |
| Investments | 0.00 | 0.00 | 1.01 | 4.01 | 12.03 | 22.05 | 28.08 | 33.10 |
| Other Assets | 159 | 180 | 204 | 300 | 335 | 426 | 622 | 724 |
| Inventories | 64.87 | 59.89 | 74.90 | 66.82 | 92.79 | 150 | 151 | 160 |
| Trade receivables | 82.93 | 97.99 | 94.97 | 123 | 150 | 198 | 295 | 363 |
| Cash & equivalents | 2.01 | 4.01 | 8.02 | 76.23 | 40.12 | 11.03 | 111 | 119 |
| Total Assets | 330 | 342 | 363 | 458 | 520 | 640 | 852 | 964 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from operating activity | −3.01 | 4.01 | 12.01 | 46.02 | −46.01 | 44.99 | 24.99 |
| Cash from investing activity | −4.99 | −5.99 | −76.74 | 9.97 | −1.99 | −86.82 | −16.94 |
| Cash from financing activity | 8.97 | 4.99 | 62.80 | −40.90 | 32.91 | 73.82 | −16.96 |
| Net cash flow | 0.99 | 2.99 | −1.99 | 14.97 | −13.97 | 30.93 | −8.98 |
| Capex | 4.06 | 5.34 | 8.63 | 25.41 | 26.12 | 35.38 | 37.90 |
| Free cash flow | −7.02 | −1.01 | 6.01 | 22.04 | −71.12 | 10.03 | −10.02 |
| CFO / OP % | 10.9% | 24.9% | 44.0% | 96.0% | −63.0% | 63.0% | 48.0% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor days | 198 | 243 | 243 | 247 | 247 | 286 | 296 | 279 |
| Inventory days | 282 | 304 | 419 | 298 | 325 | 456 | 324 | 245 |
| Days payable | 231 | 135 | 85 | 67 | 89 | 184 | 116 | 87 |
| Cash conversion cycle | 245 | 409 | 572 | 474 | 478 | 554 | 500 | 434 |
| Working capital days | 109 | 162 | 223 | 330 | 315 | 315 | 297 | 273 |
| ROCE % | — | 13.0% | 12.0% | 11.9% | 12.9% | 10.0% | 15.9% | 17.0% |
For the Sep 2026 quarter, Paras Defence and Space Technologies reported sales of ₹151 Cr, up 42.6% year on year and net profit of ₹30.96 Cr, up 63.2% year on year. The operating margin was 28.9%.
Paras Defence and Space Technologies' sales for the year to Mar 2026 were ₹475 Cr; over the last twelve months they were ₹554 Cr.
Net profit for the year to Mar 2026 was ₹88.80 Cr, and ₹108 Cr over the last twelve months. Earnings per share over the same trailing period were ₹12.96.
Paras Defence and Space Technologies reported borrowings of ₹27.03 Cr at Mar 2026, against cash and equivalents of ₹119 Cr.
Cash from operations was ₹24.99 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹10.02 Cr.