|
The company has secured license from the Department for Promotion of Industrial & Internal Trade, Ministry of Commerce & Industry, Government of India.
The license is for establishing an Industrial undertaking for manufacturing of Red Dot Reflex Sights, Electronic Fuzes comprising of electronics, sensors, mechanical parts excluding Explosive content, Rugged COTS System and Rugged Networking & Communication. The license will be valid for 15 years.
Paras Defence and Space Technologies offers high precision products and turnkey solutions to the defense and space sector, operating in three main verticals – defence and space optics, defence electronics solutions, and heavy engineering. As on 31 December 2022, the Government of India held 58.94% in the company.
The company's consolidated net profit rose 27.25% to Rs 9.76 crore on 31.09% increase in sales to Rs 60.88 crore in Q3 FY23 over Q3 FY22.
|