Green Optics is engaged in the design and manufacture of optics and optical systems for space, defense and other applications. Under the MoU, Paras Defense and Green Optics plan to establish a framework for joint development, manufacturing and business expansion in their respective regions, focusing on optics and optical systems for space and defence.
The gains also come amid continued strength in defense stocks as the US-Iran conflict enters its fifth day. The Nifty India Defense Index was the only sectoral index trading in positive territory on Wednesday.
PARAS DEFENSE SHARE PERFORMANCE
The stock is up more than 6% since the start of the year. Over the past one year, Paras Defense has delivered an impressive return of around 70%.
PARAS CONSERVATION Q3 SNAPSHOT
For the December quarter, Paras Defense’s net profit rose 21.3% year-on-year to Rs. 18.2 crore, which in the same period last year was Rs. 15 crores. Revenue for the quarter rose 24% to Rs. 106.4 crore which a year ago was Rs. 85.8 crores. EBITDA grew by 19% YoY to Rs. 26.3 crores.
However, EBITDA margin declined to 24.7% from 25.8% last year, impacted by higher total costs, particularly finance costs and employee benefit costs.
Segment-wise, the Optics and Optronics Systems business posted revenue last year of Rs. 44.4 crores to Rs. 58.4 crores. The Defense Engineering segment made Rs. 47.95 crore in revenue, up from Rs. 41.33 crores.
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