# Paras Defence share price today (Paras Defence and Space Technologies Ltd, NSE: PARAS)

> Paras Defence share price today: ₹1,211.00 at the NSE close on 3 November 2026, up 70.8% in a year. Paras Defence and Space Technologies (NSE: PARAS) is worth ₹9,757 crore, trades at a P/E of 95.5 and has closed between ₹622.95 and ₹1,499.60 over the past 52 weeks. > Paras Defence and Space Technologies Ltd's share price has risen faster than its earnings: +70.8% in a year, against +38.9% for earnings per share. PARAS · Aerospace & Defence - Equipments · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/paras-defence-and-space-technologies-ltd

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## Key numbers

- Business trend: Growing steadily, from fewer quarters than usual
- Price: ₹1,211.00 (+70.8% in a year)
- P/E: 95.5× (higher than 70% of the last 5.1 years)
- Revenue (Sep 2026): ₹151 Cr (+42.5% on a year ago)
- Profit (Sep 2026): ₹31.0 Cr (+63.2% on a year ago)
- Operating margin: 29.0% (+1.0 points on a year ago)
- ROCE: 17%, FY26
- Profit that came in as cash: 13%, last 3 years

The main question: profits are rising, but only 13% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Paras Defence share price today? Paras Defence and Space Technologies Ltd's share price was ₹1,211.00 at the close on 3 November 2026. It has been rising for 28 weeks. That is 10.9% 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. In the last 52 weeks it traded between ₹623 and ₹1,500, and at that close it sat 67% of the way up from that low. Over the last 5.1 years the share price moved +392% 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. ## What changed at Paras Defence this quarter? 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. ## What are Paras Defence's latest quarterly results? 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

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹151 crore | ₹106 crore | +42.5% |
| Profit | ₹31.0 crore | ₹19.0 crore | +63.2% |
| Earnings per share | ₹3.76 | ₹2.56 | +46.9% |
| Operating margin | 29.0% | 28.0% | +1.0 points |

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.)

## What is the Paras Defence share price history? Paras Defence closed at ₹1,211.00 on 3 November 2026, up 70.8% from ₹708.95 a year earlier (31 October 2025) and up 197.0% 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

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,177.20 | +2.9% |
| 1 month ago · 1 Oct 2026 | ₹1,276.00 | −5.1% |
| 6 months ago · 30 Apr 2026 | ₹794.25 | +52.5% |
| 1 year ago · 31 Oct 2025 | ₹708.95 | +70.8% |
| 3 years ago · 3 Nov 2023 | ₹344.10 | +251.9% |
| 5 years ago · 4 Nov 2021 | ₹407.80 | +197.0% |
| Earliest weekly close in our records · 1 Oct 2021 | ₹246.23 | +391.8% |
| Highest weekly close since October 2021, also the 52-week high · 21 Aug 2026 | ₹1,499.60 | −19.2% |
| Lowest weekly close since October 2021 · 24 Mar 2023 | ₹229.63 | +427.4% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹622.95 | +94.4% |

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 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (274 weekly closes from 1 October 2021 to 3 November 2026.)

## What is the latest news on Paras Defence? 3 Nov 2026: Paras Defence closed at ₹1,211.00, up 2.9% on the week and down 5.1% 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). ## What dividend does Paras Defence pay? Paras Defence paid ₹1 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.08% at the ₹1,211.00 close on 3 November 2026. The last was a dividend of ₹1 a share, ex-date 28 August 2026. ### Paras Defence dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 28 Aug 2026 | ₹1 | Dividend |
| 8 Aug 2025 | ₹0.50 | Dividend |

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. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

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 4 November 2026.)

## What did Paras Defence management say on the latest results call? 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 the future of Paras Defence? What is changing in the business? 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.)

## What is Paras Defence's order book? 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.)

## What could change the Paras Defence story? What are the risks? 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.)

## What to watch in Paras Defence's next results? 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. | What to check | Why |
| --- | --- |
| January to March 2026 operating margin recovery to 28-30% range. | Input Cost Pressures in Fixed-Price Contracts |
| January to March 2026 order inflow announcements. | Execution Spillovers and Delays |

## Which stock lists is Paras Defence on? Paras Defence is on one of our India lists: Defence stocks. [Defence stocks Group on the list: Defence equipment and electronics](https://www.sectoralpha.in/sectors/aerospace-defence-equipments)

## Is Paras Defence profitable? 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. 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. ## How much revenue does Paras Defence make, and is it growing? 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. 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. ## How much of every ₹100 of sales does Paras Defence keep? 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. 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. ## Is Paras Defence's profit turning into cash? 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. 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. ## Where does Paras Defence's cash go? 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. 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. ## What is Paras Defence's P/E ratio, and how does it compare with its own history? Paras Defence and Space Technologies Ltd's P/E is 95.5×, near the high end of its own history: higher than 70% 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. 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 +70.8%. 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 +24.3% a year; about +44.5% a year came from earnings growth and about −20.2 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. ## Is the Paras Defence business getting better or worse? 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. 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. ## What is the Paras Defence story, and has it been checked? 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. Our read, 17 May 2026. From the numbers. From the price. Price stage 2, week 28, above its 200-day line, relative strength falling. From the research. Where they disagree. What is proven. 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. 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. ## How much does Paras Defence earn on its capital? 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). 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. ## Does Paras Defence have too much debt? 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. 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. ## What is the Paras Defence shareholding pattern? 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. 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. ## How far is Paras Defence from balance-sheet trouble? 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. ## How does Paras Defence rank in its industry? 63.9 out of 100, rank 4 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 4. 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. ## Which companies is Paras Defence compared with? Paras Defence ranks 4 of 25 Aerospace & Defence - Equipments companies on the 4-Factor Sector Score, with 63.9 out of 100. 1. [Apollo Micro Systems Ltd](https://www.sectoralpha.in/stocks/apollo-micro-systems-ltd) APOLLO · turning · Most evidence points up · 100% evidence 70.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.9/35 · Revenue 77% · Profit 63.8% · Operating margin change 3 points · 100% evidence Capital efficiency 15.8/25 · ROCE 14.5% · Operating margin 29% · 100% evidence Valuation 9.2/20 · P/E 107× · PEG 1.7 · 100% evidence Relative strength 16.4/20 · Lead over its industry 10% · Lead over NIFTY 500 31% · 1 year 44.1% · 100% evidence · 4 of 12 weeks ahead Exact sum: 28.9 + 15.8 + 9.2 + 16.4 = 70.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [MTAR Technologies Ltd](https://www.sectoralpha.in/stocks/mtar-technologies-ltd) MTARTECH · breaking out · Most evidence points up · 90% evidence 70.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.3/35 · Revenue 53.5% · Profit 100% · Operating margin change 10.2 points · 100% evidence Capital efficiency 15.6/25 · ROCE 15.1% · Operating margin 23.2% · 100% evidence Valuation 7.4/20 · P/E 155× · PEG n/a · 50% evidence Relative strength 14.9/20 · Lead over its industry 18.6% · Lead over NIFTY 500 37.1% · 1 year 168.4% · 100% evidence · 5 of 12 weeks ahead Exact sum: 32.3 + 15.6 + 7.4 + 14.9 = 70.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Rossell Techsys Ltd](https://www.sectoralpha.in/stocks/rossell-techsys-ltd) ROSSTECH · leader · Evidence leans up · 79% evidence 64.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.5/35 · Revenue 82.9% · Profit 68.8% · Operating margin change 1.8 points · 88% evidence Capital efficiency 8.2/25 · ROCE 11.5% · Operating margin 14.4% · 100% evidence Valuation 8.8/20 · P/E 194× · PEG n/a · 15% evidence Relative strength 19.5/20 · Lead over its industry 28.7% · Lead over NIFTY 500 52.7% · 1 year 107.2% · 100% evidence · 11 of 12 weeks ahead Exact sum: 27.5 + 8.2 + 8.8 + 19.5 = 64 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. Paras Defence and Space Technologies Ltd this page PARAS · breaking out · Evidence leans up · 82% evidence 63.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.4/35 · Revenue 41.5% · Profit 58.8% · Operating margin change 1 points · 95% evidence Capital efficiency 17.5/25 · ROCE 17.2% · Operating margin 29% · 76% evidence Valuation 8.7/20 · P/E 98.6× · PEG n/a · 50% evidence Relative strength 13.3/20 · Lead over its industry 17.1% · Lead over NIFTY 500 37.9% · 1 year 76.3% · 100% evidence · 10 of 12 weeks ahead Exact sum: 24.4 + 17.5 + 8.7 + 13.3 = 63.9 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [Sigma Advanced System Ltd](https://www.sectoralpha.in/stocks/sigma-advanced-system-ltd) SIGMAADV · leader · Evidence leans up · 78% evidence 58.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.4/35 · Revenue 100% · Profit 20.3% · Operating margin change 307 points · 83% evidence Capital efficiency 9.8/25 · ROCE 11.7% · Operating margin 16% · 76% evidence Valuation 6.9/20 · P/E 102× · PEG n/a · 50% evidence Relative strength 15.0/20 · Lead over its industry 96.2% · Lead over NIFTY 500 116.7% · 1 year 318.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 26.4 + 9.8 + 6.9 + 15 = 58.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Azad Engineering Ltd](https://www.sectoralpha.in/stocks/azad-engineering-ltd) AZAD · leader · Evidence leans up · 89% evidence 57.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.0/35 · Revenue 29% · Profit 41.4% · Operating margin change 1 points · 88% evidence Capital efficiency 12.6/25 · ROCE 11.9% · Operating margin 37% · 100% evidence Valuation 9.0/20 · P/E 114× · PEG 1.94 · 65% evidence Relative strength 14.9/20 · Lead over its industry 4.2% · Lead over NIFTY 500 24.6% · 1 year 44.1% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21 + 12.6 + 9 + 14.9 = 57.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Jaykay Enterprises Ltd](https://www.sectoralpha.in/stocks/jaykay-enterprises-ltd) JAYKAY · breaking out · Too little evidence to rank firmly · 51% evidence 56.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 34.3/43.75 · Revenue 100% · Profit 100% · Operating margin change 1.8 points · 83% evidence Capital efficiency 9.2/31.25 · ROCE 4.8% · Operating margin 14.2% · 76% evidence Valuation 12.9/25 · P/E 72.3× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 34.3 + 9.2 + 12.9 = 56.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Sika Interplant Systems Ltd](https://www.sectoralpha.in/stocks/sika-interplant-systems-ltd) SIKA · quiet · Evidence leans up · 81% evidence 55.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.1/35 · Revenue 0.5% · Profit 9.8% · Operating margin change 1.1 points · 88% evidence Capital efficiency 21.7/25 · ROCE 34.6% · Operating margin 19.5% · 100% evidence Valuation 12.9/20 · P/E 51.9× · PEG 1.01 · 100% evidence Relative strength 7.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -9.8% · 1 year -27.7% · 25% evidence · 5 of 12 weeks ahead Exact sum: 13.1 + 21.7 + 12.9 + 7.8 = 55.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Data Patterns (India) Ltd](https://www.sectoralpha.in/stocks/data-patterns-indialtd) DATAPATTNS · quiet · Evidence leans up · 96% evidence 55.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 33.9% · Profit 24.2% · Operating margin change -5 points · 88% evidence Capital efficiency 21.3/25 · ROCE 21.9% · Operating margin 27% · 100% evidence Valuation 7.4/20 · P/E 78.7× · PEG 3.94 · 100% evidence Relative strength 5.5/20 · Lead over its industry -9.4% · Lead over NIFTY 500 8.8% · 1 year 38.5% · 100% evidence · 5 of 12 weeks ahead Exact sum: 20.8 + 21.3 + 7.4 + 5.5 = 55 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [High Energy Batteries (India) Ltd](https://www.sectoralpha.in/stocks/high-energy-batteries-indialtd) losing its lead · Evidence leans up · 72% evidence 53.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.9/35 · Revenue 1.5% · Profit -3.5% · Operating margin change 32.4 points · 95% evidence Capital efficiency 19.5/25 · ROCE 20.4% · Operating margin 28.1% · 95% evidence Valuation 11.8/20 · P/E 27.3× · PEG n/a · 50% evidence Relative strength 8.9/20 · Lead over its industry n/a · Lead over NIFTY 500 -2% · 1 year n/a · 25% evidence · 7 of 11 weeks ahead Exact sum: 12.9 + 19.5 + 11.8 + 8.9 = 53.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Hindustan Aeronautics Ltd](https://www.sectoralpha.in/stocks/hindustan-aeronautics-ltd) HAL · breaking out · Evidence leans up · 96% evidence 52.4 out of 100 Growth Capital Valuation Relative
12. [Dynamatic Technologies Ltd](https://www.sectoralpha.in/stocks/dynamatic-technologies-ltd) DYNAMATECH · breaking out · Evidence leans up · 79% evidence 50.9 out of 100 Growth Capital Valuation Relative
13. [Bharat Electronics Ltd](https://www.sectoralpha.in/stocks/bharat-electronics-ltd) BEL · turning · Evidence leans up · 100% evidence 50.8 out of 100 Growth Capital Valuation Relative
14. [Astra Microwave Products Ltd](https://www.sectoralpha.in/stocks/astra-microwave-products-ltd) ASTRAMICRO · quiet · Evidence leans down · 96% evidence 47.8 out of 100 Growth Capital Valuation Relative
15. [Zen Technologies Ltd](https://www.sectoralpha.in/stocks/zen-technologies-ltd) ZENTEC · turning · Evidence leans down · 60% evidence 47.6 out of 100 Growth Capital Valuation Relative
16. [Mishra Dhatu Nigam Ltd](https://www.sectoralpha.in/stocks/mishra-dhatu-nigam-ltd) MIDHANI · losing its lead · Evidence leans down · 96% evidence 42.5 out of 100 Growth Capital Valuation Relative
17. [AXISCADES Technologies Ltd](https://www.sectoralpha.in/stocks/axiscades-technologies-ltd) AXISCADES · breaking out · Evidence leans down · 89% evidence 41.6 out of 100 Growth Capital Valuation Relative
18. [BEML Ltd](https://www.sectoralpha.in/stocks/beml-ltd) BEML · breaking out · Evidence leans down · 88% evidence 40.9 out of 100 Growth Capital Valuation Relative
19. [Ideaforge Technology Ltd](https://www.sectoralpha.in/stocks/ideaforge-technology-ltd) IDEAFORGE · quiet · Evidence leans down · 71% evidence 39.8 out of 100 Growth Capital Valuation Relative
20. [Bharat Dynamics Ltd](https://www.sectoralpha.in/stocks/bharat-dynamics-ltd) BDL · basing · Evidence leans down · 96% evidence 35.6 out of 100 Growth Capital Valuation Relative
21. [Avantel Ltd](https://www.sectoralpha.in/stocks/avantel-ltd) AVANTEL · basing · Most evidence points down · 83% evidence 34.7 out of 100 Growth Capital Valuation Relative
22. [Aequs Ltd](https://www.sectoralpha.in/stocks/aequs-ltd) AEQUS · losing its lead · Too little evidence to rank firmly · 51% evidence 28.8 out of 100 Growth Capital Valuation Relative
23. [NIBE Ltd](https://www.sectoralpha.in/stocks/nibe-ltd) NIBE · quiet · Too little evidence to rank firmly · 53% evidence 27.8 out of 100 Growth Capital Valuation Relative
24. [DCX Systems Ltd](https://www.sectoralpha.in/stocks/dcx-systems-ltd) DCXINDIA · quiet · Most evidence points down · 61% evidence 23.8 out of 100 Growth Capital Valuation Relative
25. [Vinyas Innovative Technologies Ltd](https://www.sectoralpha.in/stocks/vinyas-innovative-technologies-ltd) VINYAS · turning · Too little evidence to rank firmly · 44% evidence 62.0 out of 100 Growth Capital Valuation Relative

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](https://www.sectoralpha.in/sectors/aerospace-defence-equipments), all 25 compared on one page. ## Which companies are close to Paras Defence in size? 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

1. [Astra Microwave Products Ltd](https://www.sectoralpha.in/stocks/astra-microwave-products-ltd) ₹14,381 crore
2. [Zen Technologies Ltd](https://www.sectoralpha.in/stocks/zen-technologies-ltd) ₹14,342 crore
3. [Aequs Ltd](https://www.sectoralpha.in/stocks/aequs-ltd) ₹14,289 crore
4. Paras Defence and Space Technologies Ltd ₹10,071 crore
5. [AXISCADES Technologies Ltd](https://www.sectoralpha.in/stocks/axiscades-technologies-ltd) ₹7,979 crore
6. [Dynamatic Technologies Ltd](https://www.sectoralpha.in/stocks/dynamatic-technologies-ltd) ₹7,878 crore
7. [Mishra Dhatu Nigam Ltd](https://www.sectoralpha.in/stocks/mishra-dhatu-nigam-ltd) ₹6,758 crore

[All 25 Aerospace & Defence - Equipments companies, largest first](https://www.sectoralpha.in/sectors/aerospace-defence-equipments#all-companies)

### Companies close in size in other industries

1. [Blackbuck Ltd](https://www.sectoralpha.in/stocks/blackbuck-ltd) ₹10,278 crore · Logistics
2. [Gravita India Ltd](https://www.sectoralpha.in/stocks/gravita-india-ltd) ₹10,244 crore · Recycling
3. Paras Defence and Space Technologies Ltd ₹10,071 crore
4. [Maple Infrastructure Trust](https://www.sectoralpha.in/stocks/maple-infrastructure-trust) ₹9,981 crore · Infra/Real Estate Investment Trust
5. [Vedanta Iron & Steel Ltd](https://www.sectoralpha.in/stocks/vedanta-iron-steel-ltd) ₹9,971 crore

## What else do people ask about Paras Defence? ### What is Paras Defence's share price today? Paras Defence and Space Technologies Ltd's share price is ₹1,211.00, +70.8% over the past year. The whole company is worth ₹9,757 Cr on the market. In the last 52 weeks it traded between ₹623 to ₹1,500; today it is 67% of the way up from the low, 10.9% above its 200-day average (as of 3 November 2026). ### What were Paras Defence's latest quarterly results? Paras Defence and Space Technologies Ltd reported revenue of ₹151 Cr and net profit of ₹31.0 Cr for the Sep 2026 quarter. Revenue rose 42.5% and profit rose 63.2% compared with a year earlier. Earnings per share were ₹3.76 (as of 3 November 2026). ### What is Paras Defence's market cap? Paras Defence and Space Technologies Ltd's market capitalisation is ₹9,757 Cr at a share price of ₹1,211.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Paras Defence performing? Paras Defence and Space Technologies Ltd's share price has been rising for 28 weeks. In its latest quarter, revenue rose 42.5% and profit rose 63.2% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 1 week running (as of 3 November 2026). ### Will Paras Defence's share price go up? This page does not forecast Paras Defence and Space Technologies Ltd's share price. What it shows instead: the share price is ₹1,211.00, and it has been rising for 28 weeks. Its P/E of 95.5× is higher than 70% of its own last 5 years (as of 3 November 2026). ### Where is Paras Defence in its business cycle? Paras Defence and Space Technologies Ltd's FY26 operating margin was 26.0%, against a 8-year range of 21.0% to 31.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 29.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Paras Defence story? The main question: profits are rising, but only 13% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Paras Defence a stock worth studying right now? What the numbers show: Paras Defence and Space Technologies Ltd's share price has risen faster than its earnings: +70.8% in a year, against +38.9% for earnings per share. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Paras Defence share price forecast for 2026? What is changing at Paras Defence, from the latest results and calls: order book execution and value-added product mix shift. What would change the story: Rising material costs compressed Q3 operating margin by ~340 basis points sequentially; fixed-price defense contracts limit pass-through. ## Lists

- Defence stocks: https://www.sectoralpha.in/sectors/aerospace-defence-equipments

This is research, not advice. We’re not SEBI-registered.