Paras Defence and Space Technologies Ltd
PARASParas Defence and Space Technologies Ltd is strength at full price. The numbers are improving — and a P/E at the 85th percentile of its own range says the market knows.
The sharpest disagreement: profits are rising, but only 13% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (13 weeks in) while the P/E sits at the 85th percentile of its own 5-year range. Underneath, the last four quarters read improving — profit +85.7% year on year, and 13% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Paras Defence and Space Technologies Ltd trades at ₹1,176, in a confirmed uptrend and 13 weeks into that stage. That is +40.0% against its own 200-day average. It sits at 70% of a 52-week range of ₹623 to ₹1,409. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 26 straight weeks.
Today the stock is in a confirmed uptrend — week 13 of stage 2, confirmed. At ₹1,176 it trades +40.0% versus its 200-day average and sits at 70% of its 52-week range (₹623–₹1,409).
Against the market, two honest reads. Cumulative: over the last 4.8 years the stock moved +378% while the NIFTY 500 moved +54% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 26 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 85th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Paras Defence and Space Technologies Ltd trades at 112.0× P/E, at the pricey end of its own range (85th percentile). Its long-run median P/E is 83.5×, measured across 4.8 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 112.0× is at the pricey end of its own range (85th percentile), against a long-run median of 83.5× measured over 4.8 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +38.9% against a +47.9% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 3y, of the +51.2%/yr price move, ~+32.2%/yr came from earnings growth and ~+19.0 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources disagree by up to 11% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Paras Defence and Space Technologies Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE lifting at 17.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +30.7% | +29.0% | +27.2% | — |
| Profit | +45.9% | +35.2% | +40.9% | — |
| EPS | +38.9% | +33.2% | +33.0% | — |
| Share price | +47.9% | +51.2% | — | — |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
66.1/100 — rank 4 of 24 in Aerospace & Defence - Equipments · 79% evidence confidence
Paras Defence and Space Technologies Ltd scores 66.1 out of 100 against the 24 companies it is compared with in Aerospace & Defence - Equipments, ranking 4. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 22.1 + 17.4 + 9.2 + 17.4 = 66.1. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Paras Defence and Space Technologies Ltd reported ₹171 Cr of revenue in the Mar 26 quarter, +58.3% year on year. That is the 10th straight quarter of year-on-year growth. Over 7 years it has compounded at 17.5% a year. The last full year, FY26, came in at ₹477 Cr. The last four reported quarters add to ₹476 Cr.
Paras Defence and Space Technologies Ltd reported ₹171 Cr of revenue in the Mar 26 quarter, +58.3% year on year. That is the 10th straight quarter of year-on-year growth. Over 7 years it has compounded at 17.5% a year. The last full year, FY26, came in at ₹477 Cr. The last four reported quarters add to ₹476 Cr.
FY26 revenue came in at ₹477 Cr (+30.7% on the year), capping 7 years at 17.5% compound. The latest quarter (Mar 26) printed ₹171 Cr, +58.3% year on year — the 10th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +28.5% growth against the decade's 17.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +30.4% over the last 4 quarters against +37.2%/yr over the last 8 — rolling over; TTM profit +43.5% vs +69.4%/yr — rolling over.
→ Revenue grew — did margins hold as it scaled? Next: 25.0% this quarter (−1.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Paras Defence and Space Technologies Ltd's operating margin is 25.0% in the Mar 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 21.0% to 31.0%. The current quarter sits inside that band.
Paras Defence and Space Technologies Ltd's operating margin is 25.0% in the Mar 26 quarter, −1.0 percentage points against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 21.0% to 31.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 25.0%, −1.0 pp against the same quarter a year ago. Across 8 fiscal years the operating margin has ranged 21.0%–31.0%.
🚨 Why the margin moved: operating margin went −1.3 pp year on year while gross margin went −6.4 pp — the loss came mostly from the gross line: input costs and pricing.
→ Margins slipped — did that reach the bottom line? Next: profit +85.7% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Paras Defence and Space Technologies Ltd earned ₹39.0 Cr of net profit in the Mar 26 quarter, +85.7% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹89.0 Cr. The 7-year compound rate is 24.7%. That is 22.8% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr.
Paras Defence and Space Technologies Ltd earned ₹39.0 Cr of net profit in the Mar 26 quarter, +85.7% year on year. It is the 3rd consecutive quarter of growth. Full-year FY26 profit was ₹89.0 Cr. The 7-year compound rate is 24.7%. That is 22.8% of the quarter's revenue. The same quarter a year earlier earned ₹21.0 Cr.
Mar 26 profit was ₹39.0 Cr, +85.7% year on year — the 3rd consecutive quarter of growth. On the full year, FY26 printed ₹89.0 Cr (+45.9%), and the 7-year compound rate is 24.7%.
Why profit moved: revenue contributed +58.3% and the margin −1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +38.3% vs revenue +28.5%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 13% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 13% of Paras Defence and Space Technologies Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹25.0 Cr of operating cash against ₹89.0 Cr of profit. After ₹23.0 Cr of capital spending, ₹2.0 Cr was left as free cash.
FY26: operating cash of ₹25.0 Cr against reported profit of ₹89.0 Cr, leaving free cash of ₹2.0 Cr after ₹23.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 13% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 13%: the cash cycle tightened 138 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: the bigger cash user is investment — capital spending ran 1.7× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹77.0 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Paras Defence and Space Technologies Ltd's cash conversion cycle runs 435 days in FY26, down from 573 days in FY21. Capital spending ran ₹77.0 Cr over the last 3 years. At FY26 sales of ₹477 Cr each day of that cycle holds about ₹1.3 Cr, so roughly ₹568 Cr sits inside the business at any moment.
FY26: debtors at 278 days, inventory at 244 days — roughly 8.0 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 435 days, tighter than FY21's 573.
The full loop: cash goes out to suppliers and production on day 0; stock waits 244 days to sell; customers pay about 278 days after that; and suppliers themselves are paid at 88 days — netting out to the 435-day cycle.
In money terms: at FY26 sales of ₹477 Cr, each day of the cycle holds about ₹1.3 Cr — so the 435-day loop keeps roughly ₹568 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹77.0 Cr over the last 3 fiscal years against ₹45.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹9.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 17%.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Paras Defence and Space Technologies Ltd earns a ROCE of 17% in FY26. That is up from a trough of 10% in FY24. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 18.7% net margin on 0.49× asset turns.
FY26 ROCE is 17%, recovered from a FY24 trough of 10% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 18.7% net margin × 0.49× asset turns × 1.33× balance-sheet leverage ≈ 12.2% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 11% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.04.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Paras Defence and Space Technologies Ltd carries ₹27.0 Cr of borrowings against ₹725 Cr of equity in FY26, a debt-to-equity of 0.04. Operating profit covers the interest bill 24×. Over 5 years borrowings went from ₹106 Cr to ₹27.0 Cr. Capital spending ran ₹77.0 Cr across the last 3 of those years.
FY26: borrowings of ₹27.0 Cr against equity of ₹725 Cr — a debt-to-equity of 0.04. Operating profit covers the interest bill 24×. Over 5 years borrowings went from ₹106 Cr to ₹27.0 Cr while capital spending ran ₹77.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.
The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 11% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
→ Who owns this, and are they adding or leaving? Next: Promoters cut 5.7 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters cut 5.7 points of Paras Defence and Space Technologies Ltd over 8 quarters, the biggest move on the register. That takes promoters to 53.2% of the company. Foreign institutions moved +5.3 points over the same window, to 8.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −5.7 points over 8 quarters to 53.2%; Foreign institutions: +5.3 points over 8 quarters to 8.3%; Domestic institutions: +3.0 points over 8 quarters to 3.0%.
🚨 Why the register moved: promoters drove it (−5.7 points), absorbed on the other side by foreign institutions (+5.3 points) — distribution into the market’s bid.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Paras Defence and Space Technologies Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Paras Defence and Space Technologies Ltd this page | 112.0× | ₹9,632 Cr | Mixed | |||
| Hindustan Aeronautics Ltd | 33.6× | ₹3.1L Cr | Consistent | |||
| Bharat Electronics Ltd | 48.8× | ₹3L Cr | Mixed | |||
| Bharat Dynamics Ltd | 108.0× | ₹45,564 Cr | Deteriorating | |||
| Data Patterns (India) Ltd | 104.0× | ₹25,666 Cr | Turning around | |||
| MTAR Technologies Ltd | 184.0× | ₹17,856 Cr | Improving | |||
| Astra Microwave Products Ltd | 89.2× | ₹17,217 Cr | Mixed | |||
| Zen Technologies Ltd | 87.9× | ₹15,970 Cr | Deteriorating | |||
| Azad Engineering Ltd | 119.0× | ₹15,751 Cr | Mixed | |||
| Aequs Ltd | — | ₹15,374 Cr | — | — | — | — |
| Apollo Micro Systems Ltd | 130.0× | ₹14,652 Cr | Mixed | |||
| BEML Ltd | 101.0× | ₹14,269 Cr | Mixed | |||
| Sigma Advanced System Ltd | 35.7× | ₹9,911 Cr | No read | |||
| Mishra Dhatu Nigam Ltd | 56.0× | ₹7,357 Cr | Mixed | |||
| Dynamatic Technologies Ltd | 142.0× | ₹7,102 Cr | Turning around | |||
| AXISCADES Technologies Ltd | 86.6× | ₹6,839 Cr | Mixed | |||
| AXISCADES Technologies Ltd | 82.5× | ₹6,520 Cr | Topping out | |||
| Avantel Ltd | 253.0× | ₹4,344 Cr | Deteriorating | |||
| Ideaforge Technology Ltd | — | ₹4,326 Cr | No read | |||
| Rossell Techsys Ltd | 164.0× | ₹3,707 Cr | No read | |||
| Sika Interplant Systems Ltd | 68.8× | ₹2,416 Cr | Mixed | |||
| NIBE Ltd | 414.0× | ₹2,332 Cr | Turning around | |||
| Jaykay Enterprises Ltd | 32.1× | ₹2,152 Cr | No read | |||
| DCX Systems Ltd | — | ₹2,013 Cr | Deteriorating | |||
| Sika Interplant Systems Ltd | 49.4× | ₹1,813 Cr | Mixed | |||
| Vinyas Innovative Technologies Ltd | 51.9× | ₹1,602 Cr | No read |
Frequently asked questions
What is Paras Defence and Space Technologies Ltd's share price today?
Paras Defence and Space Technologies Ltd trades at ₹1,176, +47.9% over the past year. The company is valued at ₹9,632 Cr. The stock sits at 70% of its 52-week range of ₹623–₹1,409, +40.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 13 weeks in. — as of 24 July 2026.
What were Paras Defence and Space Technologies Ltd's latest quarterly results?
Paras Defence and Space Technologies Ltd reported revenue of ₹171 Cr and net profit of ₹39.0 Cr for the Mar 26 quarter. Revenue rose 58.3% and profit rose 85.7% year on year. Earnings per share were ₹4.27. The operating margin was 25.0%, 1.0 pp lower than a year earlier. — as of 24 July 2026.
What is Paras Defence and Space Technologies Ltd's revenue?
Paras Defence and Space Technologies Ltd reported revenue of ₹171 Cr in the Mar 26 quarter, +58.3% year on year. For the full FY26 fiscal year, revenue was ₹477 Cr (+30.7%). Over the last 7 years revenue compounded at 17.5% a year. — as of 24 July 2026.
What is Paras Defence and Space Technologies Ltd's profit?
Paras Defence and Space Technologies Ltd earned ₹39.0 Cr of net profit in the Mar 26 quarter, +85.7% year on year — the 3rd straight quarter of growth. Full-year FY26 profit was ₹89.0 Cr. The operating margin ran 25.0% in the latest quarter. — as of 24 July 2026.
What is Paras Defence and Space Technologies Ltd's market cap?
Paras Defence and Space Technologies Ltd's market capitalisation is ₹9,632 Cr at a share price of ₹1,176. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Paras Defence and Space Technologies Ltd's P/E ratio?
Paras Defence and Space Technologies Ltd trades at a P/E of 112.0×, at the 85th percentile of its own 5-year range, against a long-run median of 83.5×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Paras Defence and Space Technologies Ltd pay a dividend?
Yes — Paras Defence and Space Technologies Ltd's dividend payout was 9% of profit in FY26, and it recorded a payout in 2 of its last 8 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 24 July 2026.
Is Paras Defence and Space Technologies Ltd overvalued?
On its own history, Paras Defence and Space Technologies Ltd looks expensive against its own history: its P/E of 112.0× sits at the 85th percentile of its 5-year range (long-run median 83.5×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Paras Defence and Space Technologies Ltd growing?
Yes — Paras Defence and Space Technologies Ltd is growing: latest-quarter revenue +58.3% year on year, profit +85.7%, and the margin −1.0 pp at 25.0%. The 7-year compound rates are 17.5% (revenue) and 24.7% (profit). The earnings engine currently reads: improving — as of 24 July 2026.
How is Paras Defence and Space Technologies Ltd performing?
Paras Defence and Space Technologies Ltd is in a confirmed uptrend, 13 weeks in. Its latest quarter's revenue rose 58.3% and profit rose 85.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 26 weeks. — as of 24 July 2026.
What stage is Paras Defence and Space Technologies Ltd in?
Mixed — no clean majority across the growth curves, ROCE lifting at 17.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +58.3% latest, profit growth +85.7% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Paras Defence and Space Technologies Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 13 of stage 2), trading +40.0% versus its 200-day average and at 70% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Paras Defence and Space Technologies Ltd beating the market?
On recent form, yes — Paras Defence and Space Technologies Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 26 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 4.8 years the stock moved +378% against the NIFTY 500's +54% — ahead of the index over the full window. — as of 24 July 2026.
Will Paras Defence and Space Technologies Ltd's share price go up?
This page publishes no price forecast for Paras Defence and Space Technologies Ltd. What it measures instead: the share price is ₹1,176, the price is in a confirmed uptrend 13 weeks in. Its P/E of 112.0× sits at the 85th percentile of its own 5-year range. — as of 24 July 2026.
Who owns Paras Defence and Space Technologies Ltd?
Promoters hold 53.2% of Paras Defence and Space Technologies Ltd, foreign institutions 8.3%, domestic institutions 3.0% and the public 35.5% (latest quarter). The biggest move on the register over the last two years: Promoters cut 5.7 points over 8 quarters. — as of 24 July 2026.
Does Paras Defence and Space Technologies Ltd have too much debt?
No — Paras Defence and Space Technologies Ltd's debt-to-equity is 0.04, and operating profit covers the interest bill 24×. FY26 borrowings were ₹27.0 Cr against equity of ₹725 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Paras Defence and Space Technologies Ltd's capex?
Paras Defence and Space Technologies Ltd spent ₹77.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹23.0 Cr, with ₹9.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Paras Defence and Space Technologies Ltd's cash flow?
Paras Defence and Space Technologies Ltd generated ₹25.0 Cr of operating cash flow in FY26 and ₹2.0 Cr of free cash flow after ₹23.0 Cr of capital spending. Reported profit that year was ₹89.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Paras Defence and Space Technologies Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 13% of Paras Defence and Space Technologies Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹25.0 Cr against reported profit of ₹89.0 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Paras Defence and Space Technologies Ltd in its business cycle?
Paras Defence and Space Technologies Ltd's FY26 operating margin was 25.0%, against a 8-year band of 21.0%–31.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 25.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Paras Defence and Space Technologies Ltd story?
The sharpest disagreement: profits are rising, but only 13% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Paras Defence and Space Technologies Ltd a stock worth studying right now?
This is not investment advice. The machine read: Paras Defence and Space Technologies Ltd is strength at full price. The numbers are improving — and a P/E at the 85th percentile of its own range says the market knows. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.