This aerospace and defense company bags order for supplying aircraft components!
The order is worth Rs 64 crore, for which deliveries are to be done by FY-24.
On March 20, 2023, Paras Defence and Space Technologies Limited informed in the exchange filing that the company has won the contract for avionics suite for Saras MK - 2 aircraft from Council of Scientific & Industrial Research (CSIR) - National Aerospace Laboratories (NAL), Bengaluru of value totalling to Rs 64 crore The deliveries for which are to be done in FY-24.
Paras is the first Indian multi-purpose civilian aircraft in the light transport aircraft category as designed by the CSIR-NAL. Avionics Suite of Saras MK – 2 aircraft is the complete glass cockpit of the aircraft, including all the equipment related to control, monitoring, communication, navigation, weather and anticollision systems along with auto-pilot system.
Paras Defence and Space Technologies (PDST) is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company derived 13 per cent of the revenue through exports in FY22.
Today, the stock opened at Rs 480.05, with a high and low of Rs 491 and Rs 478.10. The stock is currently trading at Rs 481.50, up by 0.80 per cent.
The stock has a 52-week high of Rs 811.35 and a 52-week low of Rs 455.05. The company has a ROCE of 12.4 per cent and an ROE of 9.23 per cent with a market capitalization of Rs 1,881 crore.