Paras Defence share price today

Paras Defence and Space Technologies Ltd's share price was ₹1,265.50 at the close on 4 November 2026. It has been rising for 28 weeks. That is 15.9% above its average price over the last 200 trading days. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Paras Defence and Space Technologies Ltd is in stage 2. The phase helps read everything below.

In the last 52 weeks it traded between ₹623 and ₹1,500, and at that close it sat 73% of the way up from that low.

Over the last 5.1 years the share price moved +414% while the NIFTY 500 moved +45%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), best operating margin in 9 quarters and profit up on a year earlier for 5 quarters in a row.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹151 crore, +42.5% on a year earlier.

2. Best operating margin in 9 quarters

   Operating margin was 29% in the September 2026 quarter, against 28% a year earlier.

3. Profit up on a year earlier for 5 quarters in a row

   In the September 2026 quarter profit was ₹31 crore, +63.2% on a year earlier.

For July to September 2026 (the quarter ended 30 September 2026), Paras Defence reported revenue of ₹151 crore, up 42.5% from ₹106 crore a year earlier, and a profit of ₹31.0 crore, up 63.2% from ₹19.0 crore.

Paras Defence results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Paras Defence closed at ₹1,265.50 on 4 November 2026, up 87.0% from ₹676.60 a year earlier (7 November 2025) and up 210.3% over five years. Its highest weekly close since October 2021 was ₹1,499.60 on 21 August 2026.

Paras Defence share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

274 weekly closes from 1 October 2021 to 4 November 2026.

4 Nov 2026: Paras Defence closed at ₹1,265.50, up 1.3% on the week and down 0.8% on the month. Results for July to September 2026: Revenue up 42.5% and profit up 63.2% on a year earlier.

Earlier

• 28 Aug 2026: ex-date for a dividend of ₹1 a share.
• 4 Jul 2025: Share split: face value cut from ₹10 to ₹5 a share (ex-date).

Paras Defence paid ₹1 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.08% at the ₹1,265.50 close on 4 November 2026. The last was a dividend of ₹1 a share, ex-date 28 August 2026.

Paras Defence dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Paras Defence and Space Technologies Ltd paid out 5% of its profit as dividends in FY26, and it paid a dividend in 2 of its last 8 reported years.

From the NSE corporate-actions record, read 5 November 2026.

Paras Defence's management made 0 promises we could check against what it later reported.

Our read after the latest results, written 17 May 2026.

What is changing at Paras Defence, from the latest results and calls: order book execution and value-added product mix shift.

• Order Book Execution. ₹900-950 Cr order book provides 2x last 12 months revenue visibility. ⚠ estimate
• Value-Added Product Mix Shift. Optics and optronics now contributing ₹58.4 Cr, driving up blended margins. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 17 May 2026.

Order book stands at approximately ₹900-950 crore.

• Order book goals reduced from ₹1,500 Cr to ₹1,100-1,200 Cr due to spillovers. ⚠ estimate

Our read after the latest results, written 17 May 2026.

Rising material costs compressed Q3 operating margin by ~340 basis points sequentially; fixed-price defense contracts limit pass-through.

The main risks

• Input Cost Pressures in Fixed-Price Contracts: Rising material costs compressed Q3 operating margin by ~340 basis points sequentially; fixed-price defense contracts limit pass-through. ✓ fact
• Execution Spillovers and Delays: Order book goals reduced from ₹1,500 Cr to ₹1,100-1,200 Cr due to spillovers. ⚠ estimate

Our read after the latest results, written 17 May 2026.

When Paras Defence reports October to December 2026, these are the 2 checks that show whether the story is still on course. First: January to March 2026 operating margin recovery to 28-30% range.

Paras Defence is on one of our India lists: Defence stocks.

Paras Defence and Space Technologies Ltd earned ₹31.0 Cr of net profit in the Sep 2026 quarter, +63.2% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹89.0 Cr. Over 7 years profit has grown 24.7% a year on average. That is 20.5% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹19.0 Cr.

For the full year, FY26 profit was ₹89.0 Cr (+45.9% on the year before).

Why profit moved: revenue changed +42.5% on a year earlier and the margin moved +1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +55.1% and revenue +40.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q2. A stellar quarter with revenue hitting ₹106 Cr and PAT growing 46% YoY to ₹19 Cr. Margins expanded to 28%, showcasing the benefits of operating leverage and a favorable product mix heavily tilted towards high-precision optics.

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.

Paras Defence and Space Technologies Ltd reported ₹151 Cr of revenue in the Sep 2026 quarter, +42.5% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 7 years it has grown 17.5% a year on average. The last full year, FY26, came in at ₹477 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The company's primary driver is the execution of its existing robust order book, heavily weighted towards high-margin optics and optronics. Successfully converting this pipeline into revenue at guided margins is critical to justifying current valuations.

The last four reported quarters add to ₹556 Cr.

FY26 revenue was ₹477 Cr, +30.7% on the year before.

Recent pace: the last four quarters grew +40.4% on average, against 17.5% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +41.5%, against +32.9% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +58.8%, against +58.5% a year (stabilising).

FY26-Q2. A stellar quarter with revenue hitting ₹106 Cr and PAT growing 46% YoY to ₹19 Cr. Margins expanded to 28%, showcasing the benefits of operating leverage and a favorable product mix heavily tilted towards high-precision optics.

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.

Paras Defence and Space Technologies Ltd's operating margin was 29.0% in the Sep 2026 quarter, 1.0 percentage points higher than the same quarter a year ago. Across 8 years it has been between 21.0% and 31.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. A deliberate shift away from heavy engineering towards precision optics and space applications is structurally improving the margin profile, acting as a partial offset to raw material inflation.

Why the margin moved: operating margin changed +1.4 percentage points on the year while gross margin changed −9.0 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

FY26-Q2. A stellar quarter with revenue hitting ₹106 Cr and PAT growing 46% YoY to ₹19 Cr. Margins expanded to 28%, showcasing the benefits of operating leverage and a favorable product mix heavily tilted towards high-precision optics.

Why-sources: our stock research file (17 May 2026) and the company’s own results for those quarters.

Over the last 3 years, 13% of Paras Defence and Space Technologies Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹25.0 Cr of operating cash against ₹89.0 Cr of profit. After ₹23.0 Cr of spending on assets, ₹2.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 13% of profit came in as cash: the cash cycle got 138 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 1.7× depreciation over three years. The next section checks what that spending is building.

Paras Defence and Space Technologies Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 435 days in FY26, down from 573 days in FY21. It spent ₹77.0 Cr on assets over the last 3 years. Customers take 278 days to pay, and stock sits for 244 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹477 Cr, each day of that cycle ties up about ₹1.3 Cr, so roughly ₹568 Cr is tied up in the business at any time.

FY26: customers took 278 days to pay and stock sat for 244 days, about 8.0 months of sales sitting as stock, for a full cycle of 435 days, shorter than FY21's 573.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 244 days. Customers pay about 278 days after that. Suppliers are paid at 88 days. Together that makes the 435-day cycle.

Spending on assets: ₹77.0 Cr over the last 3 years, against ₹45.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹16.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Paras Defence and Space Technologies Ltd's P/E is 99.8×, near the high end of its own history: higher than 72% of past readings. Its usual P/E (the middle reading) is 84.8×, over 5.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹12.92.

Why the multiple is where it is: over the past year earnings per share moved +38.9% while the price moved +87.0%. The price did better than earnings, which pushed the multiple up within its own range.

Where the price move came from: over 5 years the price moved +25.4% a year; about +44.5% a year came from earnings growth and about −19.1 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple.

A quarterly PEG curve, which only the second data source has, is not shown on this page: its two data sources disagree by up to 11% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Paras Defence and Space Technologies Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 17.0%. This is based on 9 quarters of 4 measures, with some gaps.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: steady growth with healthy returns is how a business compounds over time.

The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone.

This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Paras Defence and Space Technologies Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: MID EXPANSION. Still open: Rising material costs compressed Q3 OPM by ~340 bps sequentially; fixed-price defense contracts limit pass-through.

NOT YET CHECKED

From the price. Price stage 2, week 28, above its 200-day line, relative strength falling.

What is not proven yet. Rising material costs compressed Q3 OPM by ~340 bps sequentially; fixed-price defense contracts limit pass-through.

The test written in advance. Input Cost Pressures in Fixed-Price Contracts. Measured by: Input Cost Pressures in Fixed-Price Contracts Q4 FY26 OPM recovery to 28-30% range by the next result.

The test written in advance. Execution Spillovers and Delays. Measured by: Execution Spillovers and Delays Q4 FY26 order inflow announcements by the next result.

What the company does. Order book remains robust at ₹900-950 Cr, providing strong revenue visibility, but execution spillovers have led to downgraded goals. Sequential margins contracted to 24.6% in Q3 FY26 due to input cost pressures, ESOPs, and one-off gratuity provisions.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

• 1 · Operating leveragequiet
• 2 · Value-added mixbuilding
• 3 · Management changequiet
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsbuilding
• 7 · Consolidationquiet
• 8 · Demerger or value unlockquiet
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 6 · Order-book wins: building. ₹900-950 Cr order book provides 2x TTM revenue visibility. What proves it keeps working: Order Book Execution. It stops working if Q4 FY26 OPM recovery to 28-30% range.

Lever 2 · Value-added mix: building. Optics and optronics now contributing ₹58.4 Cr, driving up blended margins. What proves it keeps working: Value-Added Product Mix Shift. It stops working if Q4 FY26 OPM recovery to 28-30% range.

Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026. The story check is re-scored every results season; the record below never changes.

The whole page in one table. Each row links to its section.

Paras Defence and Space Technologies Ltd earned a ROCE of 17% in FY26. That is up from a low of 10% in FY24. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 18.7% net margin and 0.49× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 18.7% net margin × 0.49× asset turnover × 1.33× leverage (assets divided by equity) ≈ 12.2% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed.

The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 11% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Paras Defence and Space Technologies Ltd had ₹27.0 Cr of borrowings against ₹725 Cr of equity in FY26, so its debt is 0.04× its equity. Its operating profit is 17 times its interest bill. Over 5 years borrowings went from ₹106 Cr to ₹27.0 Cr. Over the last 3 of those years it spent ₹77.0 Cr on assets.

Debt-to-equity shows how much of the business is paid for with borrowed money. Interest cover shows how many times operating profit pays the interest bill. Low debt and high cover are the safe combination.

The spending on assets is being paid for from cash, not new debt.

The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 11% on reported income across 15 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data.

Promoters cut their stake in Paras Defence and Space Technologies Ltd by 5.7 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 53.2% of the company. Foreign institutions moved +4.0 points over the same period, to 7.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Promoters: −5.7 points over 8 quarters, to 53.2%; Foreign institutions: +4.0 points over 8 quarters, to 7.5%; Domestic institutions: +4.0 points over 8 quarters, to 4.6%.

Why the owners changed: promoters drove it (−5.7 points), with the other side taken by foreign institutions (+4.0 points). They reduced their stake.

For Paras Defence and Space Technologies Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

63.9 out of 100, rank 3 of 25 in Aerospace & Defence - Equipments, with 82% of the evidence available.

Paras Defence and Space Technologies Ltd scores 63.9 out of 100 against the 25 companies it is compared with in Aerospace & Defence - Equipments, ranking 3. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks.

The four parts add up to the total exactly: 24.4 + 17.5 + 8.7 + 13.3 = 63.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Paras Defence ranks 3 of 25 Aerospace & Defence - Equipments companies on the 4-Factor Sector Score, with 63.9 out of 100.

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read.

The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section.

Related companies: Aerospace & Defence - Equipments, all 25 compared on one page.

Paras Defence is the 13th largest of 25 Aerospace & Defence - Equipments companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Astra Microwave Products, Zen Technologies and Aequs. Just below it: AXISCADES Technologies, Dynamatic Technologies and Mishra Dhatu Nigam.

Aerospace & Defence - Equipments companies close in size

10. Astra Microwave Products Ltd ₹14,381 crore
11. Zen Technologies Ltd ₹14,342 crore
12. Aequs Ltd ₹14,289 crore
13. Paras Defence and Space Technologies Ltd ₹10,071 crore
14. AXISCADES Technologies Ltd ₹7,979 crore
15. Dynamatic Technologies Ltd ₹7,878 crore
16. Mishra Dhatu Nigam Ltd ₹6,758 crore

All 25 Aerospace & Defence - Equipments companies, largest first

Companies close in size in other industries

578. Blackbuck Ltd ₹10,278 crore · Logistics
579. Gravita India Ltd ₹10,244 crore · Recycling
580. Paras Defence and Space Technologies Ltd ₹10,071 crore
581. Maple Infrastructure Trust ₹9,981 crore · Infra/Real Estate Investment Trust
582. Vedanta Iron & Steel Ltd ₹9,971 crore

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

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