PARAS
Micro CapParas Defence and Space Technologies Limited
IT
Paras Defence and Space Technologies Limited is a premier defence and space engineering company, operating in a specialized and high-growth sector.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is supportive, price trend is neutral, and recent execution is consistent.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Excellent · 77/100Rev +58% YoY · PAT +86% YoY · +61% QoQ · operating leverage · margin compression
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹171 Cr | +58.3% | +61.3% |
| EBITDA | ₹43 Cr | +53.6% | +65.4% |
| Operating margin | 25.0% | -100 bps | +0 bps |
| PAT | ₹39 Cr | +85.7% | +129.4% |
| PAT margin | 22.8% | +337 bps | +677 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Paras Defence reports robust FY25 performance with Revenue up 43.6%, EBITDA surging 83.3%, and PAT jumping 90.1% YoY, driven by strong operational leverage and margin expansion.
The company delivered exceptional financial growth in FY25, significantly expanding its top-line and bottom-line. The substantial increase in EBITDA and PAT, coupled with margin improvement, suggests strong execution and operational efficiency. The thesis remains intact given the strong performance in a strategic sector.
Defence and Space Engineering
The company operates as a 'Premier Defence and Space Engineering Company', indicating its core business in a high-priority sector is driving growth.
Operational Leverage
EBITDA grew 83.3% and PAT grew 90.1% on a 43.6% revenue increase, suggesting significant operational leverage and efficiency gains.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The provided financial data compares full fiscal years (FY25 vs. FY24), making a Year-over-Year comparison the appropriate and only available basis to assess performance trends.
Revenue (INR Crores)
Company reported Revenue of 333.85 in FY25, up from 232.43 in FY24, representing a 43.6% YoY growth.
EBITDA (INR Crores)
EBITDA increased to 94 in FY25 from 51.28 in FY24, marking an 83.3% YoY increase.
PAT (INR Crores)
Profit After Tax (PAT) grew to 65.06 in FY25 from 34.22 in FY24, a 90.1% YoY rise.
EBITDA Margin
EBITDA margin expanded to 28.16% in FY25 from 22.06% in FY24.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Revenue Growth | 43.6% YoY in FY25 | Sustained double-digit revenue growth in subsequent fiscal years. |
| EBITDA Margin | 28.16% in FY25 | Maintenance or further expansion of EBITDA margins, indicating continued operational efficiency. |
| PAT Growth | 90.1% YoY in FY25 | Ability to convert revenue and EBITDA growth into strong bottom-line expansion. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
55NeutralSMA20 +24.6% / mo · near 52W high
Technical chart
PARASweekly · 6M+55.7%Technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 73. Wait for confirmation.
- RSI(14) at 73 — overbought zone; risk of mean reversion.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
WATCHLISTWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 18/25 to the score.
- Balance sheet contributes 10/15 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -164.1%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
IT valuation: PE and EV/EBITDA against growth and margins
Asset-light IT companies deserve valuation support only when growth, margins, and cash conversion hold up.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Healthy Trust: Claim history is still being built. It ranks around the 87th percentile of the scored universe and 83rd percentile within IT. No major sub-score weakness stands out.
High Trust Lite: Promoter pledge is zero.
Generally investable credibility. Look for weak sub-scores before increasing position size.
overall median 67 · IT: 83rd pctile, median 68 · Micro: 80th pctile, median 71
0 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Healthy Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.1%.
- ▸Debt/equity is 0.04.
- ▸8/8 recent quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 90.40
- P/B
- 10.72
- EV/EBITDA
- 56.92
- Market Cap
- 7771.00Cr
Profitability
- ROE
- 12.60%
- ROCE
- 16.90%
- ROA
- 9.22%
- Dividend Y
- 0.03%
Growth (CAGR)
- Revenue 5Y
- 27.00%
- EPS 5Y
- 41.00%
- Revenue 3Y
- 29.00%
- EPS 3Y
- 34.00%
Balance Sheet
- Debt/Equity
- 0.04
- Interest Coverage
- 24.00×
- Altman Z
- 8.17
- Book Value
- 90.00
Cash Flow
- FCF Yield
- 0.10%
- FCF Positive Y
- 2/5
- OCF
- 25.00 Cr
- EPS TTM
- 10.93
Shareholding
- Promoter Hold
- 53.20%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 93%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in IT — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.