Paras Defence & Space Technologies

What Paras Defence & Space Technologies does

Paras Defence & Space Technologies Limited is an IDDM-certified Indian defence and space engineering company founded in 1986 and headquartered in Navi Mumbai. It manufactures precision optical components (IR lenses, optical domes, Zerodur mirrors, diffractive gratings), electro-optic and optronic systems (HyperSpectral Imaging, RCWS, optical submarine periscopes), military-grade ruggedised electronics, EMP shielding solutions, and heavy engineered components (flow-formed tubes, titanium assemblies) for missile, naval, armoured vehicle, electronic warfare, and space applications. It is India's only private-sector company manufacturing infrared optics at scale and supplies directly to defence PSUs (BEL, HAL, BDL), DRDO laboratories, CSIR-NAL, and the Indian Armed Forces under a B2G model with multi-year procurement contracts awarded through tendering and OEM supply agreements.

The company generates revenue through hardware sales across four product verticals — Defence & Space Optics, Defence Electronics, EMP Solutions, and Heavy Engineering — supplemented by application-specific offerings in rocket/missile, naval, battle tank, electronic warfare, and space research segments. FY26 revenue reached Rs 476.57 crore (~30% YoY growth) with a Rs 986 crore order book, and Q4 FY26 net profit grew 74% YoY, signalling operating leverage. Revenue recognition is project- and order-based with long delivery cycles. Beyond its core, the company has built a portfolio of wholly-owned and joint-venture subsidiaries covering anti-drone systems (Paras Anti-Drone Technologies), drones (Paras Heven Advanced Drones JV with Israel's HevenDrones), thermal solutions (Mechtech Thermal, Himanshi Thermal), optronics (Controp-Paras JV), avionics (Paras Avionics), and semiconductor OSAT packaging (Paras Semiconductors). Strategic international partnerships with Bandak Aviation (USA), Green Optics (South Korea), Cielo Inertial and MicroCon Vision (Israel), Cerbair (France), and HPSS (Germany) are used to localise critical foreign defence technologies for the Indian market.

Name

Paras Defence & Space Technologies

Legal name

Paras Defence & Space Technologies Limited

Website

https://parasdefence.com

Company type

Public

Founded year

1986

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Paras Defence & Space Technologies is an IDDM-certified Indian defence and space engineering company that manufactures infrared optics, ruggedised military electronics, EMP shielding, heavy engineered components, and directed energy weapons, supplying defence PSUs, DRDO, and the Indian Armed Forces.

Ownership category

akta.pro rank

Product category

Defence & Aerospace Engineering

NAICS

Other Guided Missile and Space Vehicle Parts and Auxiliary Equipment Manufacturing (336419), Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System and Instrument Manufacturing (334511), Other Aircraft Parts and Auxiliary Equipment Manufacturing (336413), Aerospace Product and Parts Manufacturing (33641)

SIC

Guided Missiles & Space Vehicles & Parts (3760), Search, Detection, Navagation, Guidance, Aeronautical Sys (3812), Optical Instruments & Lenses (3827)

akta.pro primary industry

Military Aircraft Structures, Airframes & Composites (IMABAMAH)

akta.pro secondary industries

Ordnance Components & Subassemblies (Casings, Liners, Guidance Sections) (IMABAHAL), Space Structures, Mechanisms & Thermal Control (IMABACAF), Submarine Systems & Components (Pressure Hull, Ballast, Life Support) (IMABAKAL), Small Unmanned Aerial Systems (sUAS) & Multirotor Drones (IMABAIAA)

Keywords

• Defence optics manufacturing
• Military electronics systems
• Heavy engineering aerospace
• EMP shielding solutions
• Counter-drone technology

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Personnel, Operations, Infrastructure

Revenue model

1. Defence Products and Systems: Sale of indigenous defence products including IR optics, electro-optic systems, missile components, EMP shielding, and counter-UAS systems to defence PSUs, DRDO, and the Indian Armed Forces. Revenue is project- and order-based with long delivery cycles typical of defence procurement.
2. Avionics and Aerospace Components: Supply of avionics systems and precision aerospace components (flow-formed missile casings, titanium structures) to aerospace OEMs such as HAL and NAL. Revenue recognized upon delivery against firm orders.
3. Space Technology Products: Satellite communication ground systems, optical systems for space applications, and space-grade structural components supplied to ISRO and international space programmes.
4. Subsidiary Products (Anti-Drone, Thermal, Hydrogen): Revenue from subsidiaries focused on anti-drone systems, thermal imaging cameras, and hydrogen energy — contributing to diversified revenue streams beyond core defence electronics.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Paras Defence & Space Technologies manufactures and supplies indigenous defence and space engineering products across four primary segments: Defence & Space Optics (IR lenses, optical domes, gyro blocks, diffractive gratings, Zerodur mirrors), Optronic Systems (Hyperspectral Imaging, RCWS, submarine periscopes), Defence Electronics (MIL-grade rugged displays, control systems, VME/VPX platforms, avionic suites), and EMP Solutions (shielded rooms, anechoic chambers). It also provides Heavy Engineering capabilities including flow forming, titanium fabrication, and missile/rocket motor casings to Indian defence PSUs, DRDO, the Indian Navy, and aerospace OEMs.

Product overview

Paras Defence & Space Technologies is a Tier 2 Defence Engineering Company offering the widest range of defence products and solutions in India, with capabilities across four main segments: Defence & Space Optics, Defence Electronics, Electromagnetic Pulse (EMP) Protection, and Heavy Engineering. The company operates as a unified product portfolio under its IDDM (Indigenously Designed Developed and Manufactured) category, offering hardware-based solutions rather than a software platform. The Defence & Space Optics segment provides precision optical components including IR lenses, optical domes, gyro blocks, diffractive gratings, multi-fold lenses, Zerodur mirrors, and ultra-precision manufactured lens assemblies for space and defence applications. The Optronic Systems include HyperSpectral Imaging System, Remotely Controlled Weaponised Station (RCWS), Optical Submarine Periscope, Border Surveillance System, and Red Dot Reflex Sight. Defence Electronics encompasses MIL Grade Control Systems, Multi-Function Consoles, Rugged Displays, Rugged VME/VPX Systems, and Avionic Suites. EMP Solutions include Shielded Rooms, Control Centers, Racks and Cabinets, Anechoic Chambers, Filters, and Turnkey Projects. Heavy Engineering provides Flow Formed Tubes, Active Array Radar Cooling Assemblies, Titanium Manufacturing, and Special Metal Manufacturing. These products serve specific application domains: Rocket/Missile Programs, Naval Systems, Battle Tank & Armoured Vehicles, Electronic Warfare and Surveillance, and Space Research Programs.

Differentiator

Problem solved

Functional benefit

Brands

• RayStrike 9: High-power laser weapon system (3kW to 9kW) for counter-drone and anti-missile applications, developed in collaboration with DRDO's CHESS laboratory
• cView Series
• cWave Series
• cCOTS Series
• cSense Series

Products and services

• Defence & Space Optics

Quantifiable outcome

• Q4 FY26 net profit grew 74% YoY to Rs 34.38 crore, indicating improving profitability from scale and operational leverage
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and major.

• Bandak Aviation Inc. DBA Northstar (USA)coreTechnology or Integration · 1 January 202410-year supply and technology agreement for air-to-air refuelling systems, enabling Paras Defence to offer this critical aerial warfare capability to the Indian defence market. Northstar supplies the core technology, and Paras Defence integrates and localises for Indian platform requirements.
• Green Optics Co. Ltd. (South Korea)coreTechnology or IntegrationMemorandum of Understanding for optics and optical systems for space and defence applications. Green Optics provides specialist optical manufacturing expertise and technology transfer for producing high-performance optics required for space and defence programmes.
• HevenDrones Ltd. (Israel)coreStrategic or Co-development PartnerJoint venture and subsidiary formation for drone and counter-drone technology development and manufacturing in India. HevenDrones contributes drone platform technology and Paras Defence provides local manufacturing capability, market access, and integration with Indian defence requirements. A dedicated JV entity was established.
• MicroCon Vision Ltd (Israel)majorTechnology or IntegrationMemorandum of Understanding for drone camera technology, enabling Paras Defence to incorporate advanced imaging sensors into its counter-drone and surveillance product lines.
• Controp (Israel)majorStrategic or Co-development PartnerJoint venture agreement for counter-drone technology development and manufacturing. Controp contributes electro-optic payload and counter-UAS technology; Paras Defence localises and manufactures for the Indian market.
• Cielo Inertial Solutions Ltd (Israel)majorTechnology or IntegrationMemorandum of Understanding for inertial navigation and guidance technology, supporting Paras Defence's avionics and precision-guided munitions product development.
• CSIR-NAL (National Aerospace Laboratories, India)coreStrategic or Co-development PartnerCo-development partnership for the Saras Mk-II transport aircraft avionics suite, including flight control computers, mission computers, and cockpit displays. Paras Defence serves as a development partner and supplier within the NAL-led programme.
• Cerbair (France)majorTechnology or IntegrationSupply of counter-UAS (anti-drone) technology from Cerbair to Paras Defence for the Indian market. Paras Defence integrates Cerbair's detection and neutralisation technology into locally manufactured counter-drone systems.
• High Performance Space Structure Systems GmbH (Germany)majorStrategic or Co-development PartnerTeaming agreement for space structures, combining Paras Defence's manufacturing capabilities with HPSS's structural engineering expertise for space programme collaborations.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Bharat Electronics Limited (BEL): India's premier defence electronics PSU and Paras Defence's largest customer. While Paras supplies BEL as a Tier-2 supplier, BEL is the closest comparator in electro-optic systems, ruggedised military electronics, and radar subsystems under the same Indian defence procurement umbrella.
• Hindustan Aeronautics Limited (HAL): India's aerospace prime and a Paras customer for avionics and precision aerospace components. While HAL is significantly larger and vertically integrated, it sets the standard for Indian aerospace manufacturing and consumes Paras's flow-formed tubes, titanium assemblies, and avionics.
• Elbit Systems: Israeli defence electronics company with significant electro-optic, counter-UAS, and EW capabilities. Relevant as the parent technology provider behind Paras's Controp JV and a benchmark for the type of integrated defence-electronics platform Paras is scaling toward globally.

Direct peers

• Bharat Dynamics Limited (BDL): India's primary missile systems PSU and a Paras Defence customer for seeker windows and missile components. Direct overlap on missile seeker optics and precision missile components makes BDL a natural comparable for Paras's ordnance and missile subsystem portfolio.
• Data Patterns (India): Indian listed defence electronics company specialising in ruggedised electronic systems, radar subsystems, and COTS-based military electronics. Closest publicly listed Indian peer by product mix (defence electronics + subsystems) and customer base (DRDO, defence PSUs).
• MTAR Technologies: Indian listed precision engineering company serving nuclear, aerospace, and defence customers with critical components. Comparable to Paras's heavy engineering and precision manufacturing segment, including flow-formed tubes and titanium assemblies supplied to DRDO and ISRO.
• Astra Microwave Products: Indian listed company manufacturing RF/microwave components and subsystems for defence, space, and EW applications. Overlaps with Paras's electronic warfare, radar cooling assemblies, and rugged RF subsystems portfolio serving DRDO and defence PSUs.
• Solar Industries India: India's largest industrial explosives and defence munitions manufacturer, listed and growing rapidly via indigenisation. Comparable as a listed Indian defence company benefiting from import substitution, with overlap on munitions-adjacent propellant and energetics supply chains.
• IdeaForge Technology: Indian listed drone manufacturer serving defence, security, and enterprise customers. Comparable as a domestic UAV platform builder and potential counter-UAS counterpart; Paras's HevenDrones JV and anti-drone subsidiaries create direct competitive and partnership overlap.

Regional players

• Mazagon Dock Shipbuilders: Indian PSU warship and submarine builder and a potential customer for Paras's naval electro-optic systems, submarine periscopes, and complex titanium assemblies. Comparable as a domestic naval defence platform beneficiary of the same indigenisation policy tailwinds.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks2 records

Key highlights6 records

Customer concentration

• Xx.com/ParasDefence
• LinkedInlinkedin.com/company/paras-defence
• Instagraminstagram.com/paras.defence

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paras Defence & Space Technologies