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Paras Defence Q4 Results Review: Nirmal Bang Maintains 'Hold', Hikes Target Price
Nirmal Bang revises the stock to Hold and value Paras Defence at 62 times Mar’27E EPS (in line with the 3-year average P/E) to arrive at a target price of Rs 1,517, implying an upside of 11.6%.
02 May 2025, 05:06 PM IST 
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Paras Defence concluded FY25 with yearly revenue/Ebitda/PAT growth rates of 44%, 90%, and 98%, respectively. (Photo source: Paras Defence website).
Paras Defence achieved a revenue of Rs 1,082 million, up 35.8% YoY, driven by higher execution in the quarter. The Optics and Optronic Systems segment contributed 51%, while the Defence Engineering segment contributed to 49% of the revenue. The revenue from Optics segment grew by 374% YoY while the Defence Engineering revenue declined by 22%. Absolute Ebitda grew by 131% YoY driven by lower input costs. Ebitda margin stood at 26% whi...
