Paras Defence and Space Technologies Limited has secured a significant order worth approximately Rs 305 Crores from Larsen & Toubro Limited (L&T) for the manufacturing and supply of 244 units of the advanced Sight-25HD Electro-Optics (EO) System, along with comprehensive warranty and logistics support, for L&T's Close-In Weapon Systems (CIWS) program.
The order is expected to be completed within 47 months.
The Sight-25HD EO System is a critical component in modern defence systems, known for its high precision, reliability, and advanced features. It plays a vital role in target acquisition, tracking, and engagement, enhancing the effectiveness of defence platforms.
These systems will be integrated into L&T's Close-In Weapon Systems (CIWS) program, a comprehensive air defence solution comprising air defence guns, tracking radars, a search radar, and a command and control shelter, along with associated simulators and communication equipment.
The CIWS is planned for deployment across India to protect vital assets from various low-flying, low-signature aerial threats, including unmanned aerial vehicles.
Paras Defence specializes in providing high-precision products and turnkey solutions to the defence and space sector. With expertise in defence and space optics, defence electronics solutions, and heavy engineering, the company serves a wide range of clients in both the government and private sectors.
It is recognized as the sole Indian supplier of essential imaging components for space applications.
In the first quarter of FY25, Paras Defence reported a consolidated net profit of Rs 14.85 crore, a significant increase compared to the same period last year. Revenue from operations also saw substantial growth, rising 72.95% year-on-year to Rs 83.57 crore.
Following the announcement of this significant order, Paras Defence shares surged, hitting the 5% upper circuit limit at Rs 1,207.40 per share on the Bombay Stock Exchange (BSE) on Friday, August 16, 2024.
This substantial order from L&T underscores Paras Defence's growing prominence in the Indian defence industry. The company's expertise in delivering high-quality, technologically advanced products and solutions positions it well for further growth in the expanding defence and space sectors.
