Paras Defence Bets Big On Submarine Contracts To Drive Order Book Volume, Topline Growth—Here's Why

Paras Defence and Space Technologies Ltd. has reiterated its confidence in the Submarine Periscope segment and expects the product to driuve growth going forward.

Speaking to NDTV Profit's Know Your Company show, Amit Mahajan, Director of Paras Defence, said he is witnessing long-term growth visibility in the submarine periscope segment, which has driven up the order book in recent times.

"New orders to largely come from the optronics segments. The orders that are coming for submarine periscopes are very promising and we see long-term visibility when it comes to business related to that segment," he said.

Paras Defence is a key player in the submarine space. It is the only company in the Asia-Pacific to make submarine optronic periscopes. These are indigenously developed systems with both day and night visions that offer superior situation awareness to submarines and is, therefore, a key component in naval defence space.

These products come under 'Optics & Optronics' segment of the company, which contributed Rs. 177 crore to the overall topline in FY25, accounting for 48% of overall revenue versus Rs 66 crore in FY24.

As the only player in the submarine periscope segment, Paras Defence has built a 'strong tech moat' and does not expect any competition from domestic players.

"Competition largely to come from foreign players. We would like to continue this trajectory and make sure our products also get exported," he said.

"We have developed a very critical technology for submarine periscopes. We are among the only companies in the subcontinent to deliver something like this. We are delivering substantial value when it comes to submarine products," he added.

Paras Defence currently has an order book of Rs 928 crore, of which Rs 120 crore is coming from the submarine periscope segment. The company expects this number to increase in the future.