Capital Goods · NSE/BSE: PARAS
Paras Defence and Space Technologies Limited
Aerospace & Defense
Market Cap ₹0.09L Cr
Verdict: Average
Quality Scores
Multi-Bagger
74/100
Compounder Quality
68/100
Management Credibility
75/100
Governance
78/100
Cash Flow Quality
45/100
AI Summary
Paras Defence and Space Technologies (PDST) is a niche Indian private sector player with unique capabilities in space optics, electromagnetic pulse (EMP) protection, and heavy engineering. It holds a dominant position as the only Indian manufacturer of submarine periscopes and hyper-spectral cameras for space. While the top-line growth has been robust at a 31% TTM CAGR, the market has priced this aggressively with a P/E over 100x. The company operates in a high-barrier-to-entry segment with a strong order book but faces significant working capital challenges common in the defense sector. The…
Top Opportunities
- Sole Indian private firm for hyper-spectral cameras
- Only Asia-Pacific manufacturer of submarine periscopes
- High barriers to entry in Space and Defense Optics
Top Risks
- Extremely high working capital cycle (435-550 days)
- High Debtor Days (278 days) stretching liquidity
- Low Return on Equity (11% 3y average)
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