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Paras Defence and Space Technologies is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company caters to four major segments - defence & space optics, defence electronics, heavy engineering, and electromagnetic pulse protection solutions.
The company reported a 48.9% jump in consolidated net profit to Rs 20.64 crore on 21.4% increase in revenue from operations to Rs 105.72 crore in Q2 FY26 over Q2 FY25.
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Paras Defence and Space Technologies has signed a memorandum of association (MoU) with Inter-University Accelerator Centre (IUAC), New Delhi to develop commercial- grade MRI magnet system for indigenous manufacturing in the country to make India a Self-Reliant in superconducting MRI Magnet technology.
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Under the MoU, Paras Defence and IUAC will jointly develop a commercial-grade MRI magnet system. The collaboration aims to enable indigenous manufacturing of superconducting MRI magnet technology. The companies said the project supports India’s push toward self-reliance under Aatma Nirbhar Bharat.
Inter- University Accelerator Centre (IUAC), New-Delhi is an autonomous Institute under the University Grants Commission (UGC), Ministry of Education (MoE), Government of India (GOI), and carries out particle accelerator based basic research and development.
PARAS and IUAC will combine their respective capabilities in order to develop commercial- grade MRI magnet system for indigenous manufacturing in the country to make India a Self-Reliant in superconducting MRI Magnet technology, thus nurturing Aatma Nirbhar Bharat.
The order, awarded by a domestic government entity, is scheduled for execution between August and September 2026. The contract is not a related party transaction, and the promoter group has no interest in DRDO.
This deal marks a significant milestone for Paras Defence, reinforcing its position in indigenous defence manufacturing and advanced submarine technologies.
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 caters to four major segments - defence & space optics, defence electronics, heavy engineering, and electromagnetic pulse protection solutions.
Shares of Paras Defence and Space Technologies fell 1.19% to Rs 756.80 on the BSE.
Total expenses increased 15.34% to Rs 81.42 crore in Q2 FY26, compared with Rs 70.59 crore posted in corresponding quarter last year. Cost of material consumed stood at Rs 36.47 crore (up 22.34% YoY), employee benefit expenses was at Rs 11.07 crore (up 20.72% YoY), while finance cost stood at Rs 1.20 crore (down 53.12% YoY) during the period under review.
On segmental front, revenue from Defence Engineering jumped 40.72% YoY to Rs 67.28 crore, while revenue from optics and optronics Systems segment declined 2.14% YoY to Rs 38.44 crore during the quarter.
On half-yearly basis, the company’s consolidated net profit jumped 23.69% to Rs 35.51 crore on 16.55% increase in revenue from operations to Rs 198.91 crore in H1 FY26 over H1 FY25.