Paras Defence Secures Rs. 72 Crore Order from IRDE-DRDO
Filing Summary
Paras Defence and Space Technologies Ltd has received an order from the Ministry of Defence’s IRDE-DRDO valued at approximately Rs. 72 crores, inclusive of GST. The order involves the supply of two Optronic Periscopes for submarine applications. The contract is set to be executed between August and September 2026. This order is not a related party transaction, and there is no promoter interest in the awarding entity. The disclosure complies with SEBI’s Listing Regulations and related circulars.
Paras Defence and Space Technologies Ltd has announced the receipt of an order from the Ministry of Defence’s IRDE-DRDO. The order is valued at approximately Rs. 71.68 crores, inclusive of GST, and involves the supply of two Optronic Periscopes for submarine applications.
The order was awarded by a domestic entity, specifically the Government of India. The contract specifies that the supply of the Optronic Periscopes is to be completed between August and September 2026. The transaction is not classified as a related party transaction, and there is no interest from the promoter or promoter group in the awarding entity.
The disclosure of this order is in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also adhered to the guidelines outlined in SEBI Circular No. SEBI/HO/CFD/PoD2/P/CIR/P/0155 dated November 11, 2024.
The IRDE-DRDO is a part of the Ministry of Defence, Government of India, focusing on research and development in the field of optronics and related technologies. It plays a crucial role in enhancing the capabilities of the Indian armed forces through advanced technological solutions.
Paras Defence and Space Technologies Ltd specializes in the design, development, and manufacturing of a wide range of defence and space engineering products and solutions. The company focuses on providing cutting-edge technologies and products to the defence and space sectors, aligning with its strategic priorities to enhance its capabilities and market presence in these domains.