Paras Defence &Space

** Shares of India's defence companies .NIFTYINDDEFENCE up 2.2%

** Bharat Electronics BAJE.NS, Hindustan Aeronautics HIAE.NS rise 2.4% and 3.5%, respectively

** Paras Defence PRAF.NS, BEML BEML.NS and Data Patterns DATP.NS jump 4.2%-5.5%

** India's defence acquisition council (DAC) clears capital acquisition proposals worth 1.1 trillion rupees ($11.64 billion) for defence forces

** Goldman Sachs says proposals focused on surveillance, counter-measures and deterrence platforms rather than large, traditional and expensive platforms, which will improve participation of private players

** Clearance of advanced light helicopters and proposals to enhance fighter jet capabilities are positive for HIAE, approvals for ground-based jammers positive for BAJE, says JM Financial

** "These approvals strengthen medium-to-long term order visibility for Indian defence manufacturers, with the high domestic sourcing component providing opportunities across platforms, electronics and critical systems," says ICICI Securities

** YTD, defence index up 28.6%

(Reporting by Vivek Kumar M)

(([email protected];))

By Abhirami G

August 21 (Reuters) - India's Paras Defence PRAF.NS expects export revenue to at least double this fiscal year as the Middle East conflict fuels demand for its defence engineering products, a top executive told Reuters.

Escalating geopolitical tensions are driving governments to boost defence budgets, creating a surge in orders for makers of military equipment and components.

Mumbai-based Paras Defence expects exports to rise to 1.2 billion to 1.3 billion rupees ($12.53 million-$13.58 million), from 500 million to 600 million rupees last year, Technical and R&D Director Amit Mahajan said.

Exports accounted for about 10% of the company's revenue in fiscal 2026.

Paras also expects revenue of 6 billion to 6.5 billion rupees in fiscal 2027, up from 4.77 billion rupees a year earlier as demand rises.

Orders from Israel and the United Arab Emirates have grown in the fiscal year so far, while demand from France and Germany has also increased as European countries accelerate military spending and diversify supply chains amid concerns about dependence on U.S. suppliers, Mahajan said.

The company declined to provide regional growth figures and said it was not targeting specific geographies.

Paras exports optical and electro-optics systems for defence and space, including infrared lenses, anti-drone equipment and border-surveillance systems.

Its primary customers include state-run and private Indian defence firms such as Hindustan Aeronautics HIAE.NS and the Defence Research and Development Organisation (DRDO).

India's defence exports grew 62% to $4.1 billion in fiscal 2026, with the bulk of exports comprising explosives.

Few domestic companies export optics and electro-optics equipment, with state-owned Bharat Electronics BAJE.NS being the only major rival to Paras, an industry analyst said.

Investor interest has grown in the sector this year. The Nifty India Defence index .NIFTYINDDEFENCE, which includes Paras, has gained 27%, against a 7% fall in the benchmark Nifty 50 .NSEI. The defence index is up nearly 21% since the Iran war began in late February.

($1 = 95.7425 Indian rupees)

(Reporting by Abhirami G in Bengaluru; Editing by Chandini Monnappa and Sonia Cheema)

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Paras Defence and Space Technologies scheduled a group visit for analysts and institutional investors to its Nerul plant in Navi Mumbai on August 22, beginning at 10am. Fortress Group, Birla AMC, ABSL, PNB Metlife, Camelian Capital, Revanta Capital and IKIGAI were listed as participants, and the meeting was not intended to include unpublished price-sensitive information. Defence engineering accounted for about 58% of Paras's FY26 revenue, up from roughly 51% a year earlier, as consolidated revenue reached ₹476.6 crore. Operating cash flow was ₹24.6 crore against profit before tax of ₹117.7 crore.

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Paras Defence and Space Technologies scheduled meetings with analysts and institutional investors at Kotak Institutional Equities’ Manufacturing Forum 2026 in Mumbai on 20 August, beginning at 9 a.m. The programme included one-on-one and group meetings, with participants including Abakkus Asset Manager, Helios Capital Management, Sage One Investment Advisors, GIC, HSBC Global AM and Invesco Asset Management (India). The company said no unpublished price-sensitive information would be shared and that the schedule remained subject to change. Paras Defence had consolidated revenue of ₹476.57 crore in FY26, while its order book stood at ₹986 crore at year-end.

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Paras Defence's management was scheduled to meet analysts and institutional investors at Motilal Oswal's 22nd Annual Global Investor Conference in Mumbai on 19 August 2026. The programme comprised one-on-one and group meetings, with ENAM AMC and several large asset managers among the listed participants. No unpublished price-sensitive information was proposed to be shared, and the schedule was subject to change. Paras Defence reported FY26 consolidated revenue of ₹476.57 crore and PAT of ₹89.46 crore, while its order book stood at ₹986 crore.

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Paras Defence and Space Technologies' subsidiary Paras Semiconductors signed a non-binding memorandum of understanding with MP State Electronics Development Corporation on July 22, 2026 to establish a greenfield advanced integrated circuit packaging OSAT facility. The proposed investment stands at roughly ₹6,200 crore and the plant will be located in Indore-Ujjain, Madhya Pradesh, specialising in 3D heterogeneous integration, hybrid bonding, chiplet integration and other advanced packaging operations.

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July 22 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE - SIGNING OF MOU WITH MP STATE ELECTRONICS DEVELOPMENT CORPORATION

• PARAS DEFENCE AND SPACE TECHNOLOGIES - TO INVEST 62 BILLION RUPEES IN IC PACKAGING OSAT FACILITY IN MADHYA PRADESH

Source text: ID:nBSE7Xs8qj

Further company coverage: PRAF.NS

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June 2 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES - GETS ORDER WORTH 528.2 MILLION RUPEES FROM BHARAT ELECTRONICS

Source text: ID:nnAZN4T00QR

Further company coverage: PRAF.NS

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May 13 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• MARCH-QUARTER CONSOL NET PROFIT 343.8 MILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 1.71 BILLION RUPEES

• RECOMMENDS FINAL DIVIDEND OF 1 RUPEE PER SHARE

Source text: [ID:]

Further company coverage: PRAF.NS

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April 30 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES LTD - RECEIVES ORDER FROM DRDO VALUED AT 77.2 MILLION RUPEES

Source text: ID:nNSEc2XbWY

Further company coverage: PRAF.NS

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April 28 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES - SIGNS MOU WITH COMPLUS SYSTEMS AND JV MICRONICS

• PARAS DEFENCE - CO, COMPLUS SYSTEMS, JV MICRONICS TO COLLABORATE ON ANECHOIC CHAMBERS

Source text: ID:nBSEbZk10z

Further company coverage: PRAF.NS

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**India's Nifty defence sub-index <.NIFTYINDDEFENCE> gains nearly 2%, on track for a seventh straight session of gains

** Index trading at its highest level in a month, set for strongest weekly performance since May 2025

** The gauge, which includes stocks such as Bharat Electronics BAJE.NS, Hindustan Aeronautics HIAE.NS, Cochin Shipyard COCH.NS, and Paras Defence and Space Technologies PRAF.NS - has not posted a single decline since the start of the month

** Data released on April 2 shows that India's defence exports surged 62% for the fiscal year to March surged 62%, highlighting the sector's deeper integration into global supply chains and growing international acceptance.

** India has pushed to manufacture everything from guns and drones to fighter jets and submarines at home

** The index's 50-day moving average is nearing a move above its 200-day moving average - a pattern widely known as a "golden cross," - commonly viewed as a technical signal of a potential long-term bullish trend and buying opportunity

** YTD index up 7.4%, while benchmark Nifty 50 .NSEI down 8.1%

(Reporting by Pranav Kashyap in Bengaluru)

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March 30 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• DIVESTS ENTIRE 58.02% STAKE IN AYATTI; AYATTI NO LONGER SUBSIDIARY

Source text: ID:nBSE4MvY4G

Further company coverage: PRAF.NS

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March 9 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• RECEIVES ORDER FROM DRDO VALUED AT 802.8 MILLION RUPEES

Source text: ID:nBSE7K4WRp

Further company coverage: PRAF.NS

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** India's defence stocks .NIFTYINDDEFENCE gain 4.9% this week, and have risen 9.9% over four weeks in their longest winning run since June

** Escalating U.S. and Israeli war with Iran boosts shares

** Paras Defence PRAF.NS leads weekly gains with an 18.4% jump, trailed by dronemaker Ideaforge's IDEF.NS 9% climb

** Bharat Dyanmics BARA.NS, which counts Israeli defence equipment maker Rafael among its clients, rises 7.2% for the week

** Peer Bharat Electronics BAJE.NS gains 6.1% to be the top weekly gainer on benchmark Nifty 50 .NSEI

** Zen Technologies ZETE.NS up 4.5% this week

** YTD, defence index up 10.1%

(Reporting by Kashish Tandon in Bengaluru)

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** Indian defence stocks .NIFTYINDDEFENCE rise 2.29%; benchmark Nifty 50 index .NSEI up 0.48%

** Paras Defence and Space Technologies PRAF.NS up 1.8%, Bharat Electronics BAJE.NS gains 3.6%, Bharat Dynamics BARA.NS rises 2.1%, HAL HIAE.NS firms 0.7%; Mazagon Dock Shipbuilders MAZG.NS and Data Patterns DATP.NS add 5.6% each

** Shriram Wealth says defence sector likely to benefit from rising global defence spending

** U.S.-Israeli strikes against Iran, subsequent retaliatory strikes have heightened instability across Middle East, raising risk of wider regional escalation

** YTD, NIFTYINDDEFENCE gains ~6% vs NSEI's 6% drop

(Reporting by Anuran Sadhu in Bengaluru)

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March 4 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• SIGNS MOU WITH GREEN OPTICS CO., LTD., SOUTH KOREA

• GREEN OPTICS TO JOINTLY DEVELOP OPTICS FOR SPACE AND DEFENCE

Source text: ID:nBSE26DJZ3

Further company coverage: PRAF.NS

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** Nifty India Defence .NIFTYINDDEFENCE index up 1% vs benchmark Nifty 50 .NSEI 1.3% fall

** Paras Defence and Space Technologies PRAF.NS up 11.6%, Bharat Electronics BAJE.NS up 2%, Bharat Dynamics BARA.NS up 0.9%, HAL HIAE.NS up 0.9%

** U.S.-Israeli strikes on Iran over the weekend killed Tehran's Supreme Leader Ali Khamenei

** Jefferies says stocks should see double-digit CAGR growth in the medium term due to geopolitical tensions

** Antique Stockbroking flags BARA and BEL have their supply chain dependence on Israel; any prolonged geopolitical issue with Iran can lead to risk

** YTD, defence index up 5.8% vs .NSEI's nearly 5% fall

(Reporting by Mridula Kumar in Bengaluru)

(([email protected];))

** Shares of Paras Defence and Space Technologies PRAF.NS rise 2.3% to 644.65 rupees

** Co acquires 49% stake in Himanshi Thermal Solutions from DefSpace Technologies

** Himanshi Thermal makes fabricated metal products, liquid cold plates for space and airborne applications, and provides vacuum heat treatment services

** YTD, PRAF down ~6%

(Reporting by Vijay Malkar)

(([email protected];))

Feb 17 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES LTD - APPROVES ACQUISITION OF 49% EQUITY IN HIMANSHI THERMAL

Source text: ID:nBSE6qwTxZ

Further company coverage: PRAF.NS

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Updates

** Shares of Indian defence stocks reverse course after federal budget speech does not include significant announcements on sector

** Nifty India defence index .NIFTYINDDEFENCE falls 5.6%%

** Investors had expected higher defence spending from the government

** Paras Defence PRAF.NS and Garden Reach Shipbuilders GRSE.NS down 9.6% and 9.5%, respectively

** Mazagon Dock Shipbuilders MAZG.NS and Bharat Electronics BAJE.NS down 8% and 7.6%

(Reporting by Kashish Tandon and Urvi Dugar in Bengaluru)

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Jan 23 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• DEC-QUARTER CONSOL NET PROFIT 182.1 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 1.06 BILLION RUPEES

Source text: [ID:]

Further company coverage: PRAF.NS

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Nov 24 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES LTD - SIGNS MOU WITH INTER-UNIVERSITY ACCELERATOR CENTRE

Source text: ID:nNSE65p72w

Further company coverage: PRAF.NS

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**Shares of Indian defence manufacturers Bharat Dynamics BARA.NS, BEML BEML.NS, Garden Reach Shipbuilders and Engineers GRSE.NS, Cochin Shipyard COCH.NS, Paras Defence PRAF.NS, Bharat Electronics BAJE.NS, Mazagon Dock Shipbulders MAZG.NS and Mishra Dhatu MISR.NS rise between 0.78% to 2.72%.

** Nifty India Defence index .NIFTYINDDEFENCE rises 0.8% to 8,227.65 rupees

** Indian Defence Acquisition Council approved various army contracts totaling to an amount of 790 billion rupees ($8.99 billion)

** Ministry also unveils the new Defence Procurement Manual (DPM), focusing on simplifying regulatory processes

** The DAC approvals open up new opportunities for key domestic defence players like Bharat Electronics, Bharat Dynamics, GRSE, and others, says ICICI Direct Research

** YTD, Garden Reach Shipbuilders up 63%, Bharat Dynamics up 39%, BEML up 9%, Cochin Shipyard up 18.57%, Bharat Electronics up 43.89%

($1 = 87.8950 Indian rupees)

(Reporting by Mridula Kumar)

(([email protected]))

** Shares of Paras Defence and Space Technologies PRAF.NS rise 2.2% to 706 rupees

** Stock set for third straight session of gain

** Subsidiary gets order worth 461.9 mln rupees ($5.2 mln) from Ministry of Defence

** Order for Anti-Drone Systems such as drone jammers

** Stock up 40.1% YTD

($1 = 88.7420 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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Updates

** Defence stocks .NIFTYINDDEFENCE up 0.7%, extending Friday's gains, after India unveiled a new framework to streamline, simplify and rationalise procurement processes for armed forces

** Defence minister on Sunday approved Defence Procurement Manual (DPM), outlining key rules and procedures for all revenue procurements covering an estimated 1 trillion rupees ($11.34 billion) for current FY

** A 0.1% delay penalty will apply after prototype development, with a cap of 5%, rising to 10% only for major delays; no levies in development phase

** "The DPM is a structural positive for the defence sector as it simplifies procurement, reduces execution risks and ensures faster order flow," says ICICI Securities

** 13 out of the 18 constituents on the sub-index trading in the green, led by Paras Defence PRAF.NS, up 4.5%

** Cochin Shipyard COCH.NS, Astra Micro ASTM.NS and Cyient DLM CYIT.NS up ~2% each

** YTD, defence stocks up 24%, outperforming 6% climb in Nifty 50 .NSEI

($1 = 88.1710 Indian rupees)

(Reporting by Urvi Dugar and Bharath Rajeswaran)

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** India's defence stocks .NIFTYINDDEFENCE gain 7% this week after multiple order wins for firms on the index

** Sub index on track for best day and week in nearly four months, when it surged on push for indigenous equipment in the backdrop of India-Pakistan conflict

** Heavyweight Hindustan Aeronautics HIAE.NS jumps 7.4% this week as it signed a tech transfer pact with ISRO, its commercial arm and regulator to manufacture low-earth orbit launch vehicles

** MTAR Technologies MTAR.NS rises 22% after winning clean energy fuel cell orders worth 3.86 billion rupees ($44 million) from Bloom Energy BE.N

** Paras Defence PRAF.NS bags orders worth 266 million rupees from Ministry of Defence-owned India Optel's unit; up 5% on the day

** Mazagon Dock MAZG.NS and German partner Thyssenkrupp TKAG.DE commence negotiations with Indian Navy on a $5 billion submarine project, MAZG up 9% this week

** NIFTYINDDEFENCE gains about 24% YTD

($1 = 88.2575 Indian rupees)

(Reporting by Urvi Dugar)

(([email protected]))

Aug 21 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• RECEIVES ORDER FROM BHARAT ELECTRONICS WORTH 453.2 MILLION RUPEES

Source text: ID:nBSE5gV1P2

Further company coverage: PRAF.NS

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Aug 6 (Reuters) - Paras Defence and Space Technologies Ltd PRAF.NS:

• PARAS DEFENCE AND SPACE TECHNOLOGIES LTD - SIGNS AGREEMENT WITH HPS GERMANY

• PARAS DEFENCE AND SPACE TECHNOLOGIES LTD - HPS TO COLLABORATE ON DEFENCE & SPACE PROJECTS

Source text: ID:nBSE5XxKc5

Further company coverage: PRAF.NS

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** India's Paras Defence and Space Technologies PRAF.NS jumps 4.6% to 1,702 rupees, takes two-day gains to 6.5%

** Subsidiary secures deal worth 220 million rupees ($2.57 million) from France-based CERBAIR to supply high-end counter unmanned aerial system (UAS) technology CHIMERA 200

** "CHIMERA 200 set to play pivotal role in India's defence export ambitions," co says after CERBAIR deal

** YTD, PRAF up ~69% as geopolitical tensions across several regions are aiding demand for defence equipment; Nifty India Defence index .NIFTYINDDEFENCE up 36% YTD

** Since April, company insiders and promoters have trimmed their stake in PRAF by 4.5%, NSE data shows

($1 = 85.7240 Indian rupees)

(Reporting by Vivek Kumar M)

(([email protected];))