Past 10 year's financial track record analysis by Moneyworks4me indicates that Paras Defence And Space Technologies Ltd is a average quality company.
The key valuation ratios of Paras Defence And Space Technologies Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Paras Defence And Space Technologies Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 25.5% | 21.3% | 15% | 13.9% | 14.1% | 14.6% | 12.6% | - |
| Value Creation Index ⓘ | 0.8 | 0.5 | 0.1 | 0.0 | 0.0 | 0.1 | -0.1 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | ||||||||
| Sales ⓘ | 143 | 154 | 147 | 133 | 180 | 214 | 232 | 290 |
| Sales YoY Gr. | - | 7.9% | -5.1% | -9.4% | 35.5% | 19% | 8.5% | - |
| Adj EPS ⓘ | 8.8 | 6.4 | 7.2 | 5.1 | 6.9 | 9.3 | 8.8 | 12.3 |
| YoY Gr. | - | -27.2% | 11.5% | -28.5% | 35.4% | 34.3% | -5.3% | - |
| BVPS (₹) ⓘ | 29.4 | 38.9 | 46.2 | 55.1 | 86.1 | 95.2 | 103.8 | 141.7 |
| Adj Net Profit ⓘ | 24.6 | 18.2 | 20.3 | 15.3 | 27 | 36.2 | 34.3 | 49 |
| Cash Flow from Ops. ⓘ | 42.2 | -12 | -2.2 | 3.7 | 12.8 | 49.5 | -17.2 | - |
| Debt/CF from Ops. ⓘ | 1.6 | -7.1 | -47.8 | 28.4 | 2.3 | 0 | -2 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 8.5% | 20.5% | 8.5% | ||||
| Adj EPS ⓘ | NA | 6.5% | 19.9% | -5.3% | ||||
| BVPSⓘ | NA | 21.7% | 23.5% | 9% | ||||
| Share Price | - | - | 9.8% | 35.3% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 19.8 | 13.2 | 12.5 | 8 | 9.3 | 9.2 | 8 | 10 |
| Op. Profit Mgn % ⓘ | 28.8 | 28.1 | 27.5 | 32.8 | 29 | 26.4 | 23 | 25.1 |
| Net Profit Mgn % ⓘ | 17.2 | 11.8 | 13.9 | 11.5 | 15 | 16.9 | 14.8 | 17.1 |
| Debt to Equity ⓘ | 0.8 | 0.8 | 0.8 | 0.6 | 0.1 | 0 | 0.1 | 0 |
| Working Cap Days ⓘ | 0 | 282 | 410 | 500 | 418 | 430 | 531 | 253 |
| Cash Conv. Cycle ⓘ | 0 | 132 | 237 | 364 | 317 | 313 | 349 | 159 |
Return on Equity has increased versus last 3 years average to 10.00%
Sales growth is growing at healthy rate in last 3 years 20.51%
Net Profit is growing at healthy rate in last 3 years 19.86%
Sales growth is good in last 4 quarters at 32.70%
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| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 12.3 | 11.3 |
| TTM Sales (₹ Cr.) | 290 | 315 |
| BVPS (₹.) ⓘ | 141.7 | 140.6 |
| Reserves (₹ Cr.) ⓘ | 531 | 526 |
| P/BV ⓘ | 6.90 | 6.96 |
| PE ⓘ | 79.78 | 86.91 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 608.75 / 1592.75 |
| All Time Low / High (₹) | 447.10 / 1592.75 |
| Market Cap (₹ Cr.) | 3,940 |
| Equity (₹ Cr.) | 40.3 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 35.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|
| Sales | 143 | 154 | 147 | 133 | 180 | 214 | 232 |
| Operating Expenses ⓘ | 102 | 111 | 107 | 90 | 128 | 158 | 179 |
| Manufacturing Costs | 7 | 7 | 10 | 13 | 18 | 13 | 19 |
| Material Costs | 78 | 84 | 72 | 56 | 81 | 103 | 108 |
| Employee Cost | 7 | 9 | 11 | 12 | 14 | 20 | 27 |
| Other Costs ⓘ | 10 | 11 | 14 | 9 | 14 | 21 | 25 |
| Operating Profit ⓘ | 41 | 43 | 40 | 43 | 52 | 56 | 53 |
| Operating Profit Margin (%) | 28.8% | 28.0% | 27.2% | 32.6% | 28.9% | 26.2% | 22.9% |
| Other Income ⓘ | 3 | 3 | 2 | 1 | 3 | 8 | 10 |
| Interest ⓘ | 7 | 10 | 10 | 13 | 8 | 7 | 6 |
| Depreciation ⓘ | 7 | 9 | 10 | 10 | 10 | 11 | 12 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 30 | 27 | 22 | 22 | 36 | 47 | 45 |
| Tax ⓘ | 5 | 8 | 2 | 7 | 9 | 11 | 10 |
| Profit After Tax | 25 | 19 | 20 | 15 | 27 | 36 | 34 |
| PAT Margin (%) | 17.5% | 12.3% | 13.6% | 11.4% | 14.9% | 16.8% | 14.7% |
| Adjusted EPS (₹) | 9.0 | 6.7 | 7.0 | 5.1 | 6.9 | 9.2 | 8.8 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 124 | 152 | 173 | 206 | 378 | 413 | 447 | |||
| Share Capital ⓘ | 6 | 6 | 28 | 30 | 39 | 39 | 39 | |||
| Reserves ⓘ | 118 | 147 | 145 | 177 | 339 | 374 | 408 | |||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Debt | 60 | 76 | 96 | 95 | 29 | 0 | 34 | |||
| Long Term Debt | 39 | 38 | 37 | 26 | 0 | 0 | 0 | |||
| Short Term Debt | 21 | 38 | 60 | 70 | 29 | 0 | 34 | |||
| Trade Payables | 23 | 53 | 27 | 15 | 15 | 25 | 58 | |||
| Others Liabilities ⓘ | 50 | 48 | 46 | 44 | 33 | 65 | 69 | |||
| Total Liabilities ⓘ | 257 | 330 | 342 | 362 | 454 | 503 | 608 | |||
Fixed Assets | ||||||||||
| Gross Block | 180 | 186 | 185 | 193 | 178 | 193 | 220 | |||
| Accumulated Depreciation | 8 | 18 | 27 | 36 | 42 | 51 | 63 | |||
| Net Fixed Assetsⓘ | 171 | 168 | 158 | 157 | 136 | 141 | 157 | |||
| CWIP ⓘ | 1 | 3 | 5 | 1 | 0 | 4 | 4 | |||
| Investmentsⓘ | 0 | 0 | 0 | 1 | 4 | 19 | 31 | |||
| Inventories | 44 | 65 | 60 | 74 | 66 | 91 | 141 | |||
| Trade Receivables | 25 | 83 | 97 | 95 | 122 | 145 | 180 | |||
| Cash Equivalents | 3 | 2 | 4 | 8 | 74 | 37 | 9 | |||
| Others Assetsⓘ | 12 | 9 | 17 | 26 | 52 | 66 | 86 | |||
| Total Assets ⓘ | 257 | 330 | 342 | 362 | 454 | 503 | 608 | |||
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 42 | -12 | -2 | 4 | 13 | 49 | -17 |
| PBT ⓘ | 30 | 27 | 22 | 22 | 36 | 47 | 45 |
| Adjustment ⓘ | 14 | 19 | 21 | 23 | 21 | 12 | 14 |
| Changes in Working Capital ⓘ | 2 | -51 | -38 | -34 | -33 | 0 | -64 |
| Tax Paid ⓘ | -4 | -7 | -7 | -7 | -12 | -9 | -11 |
| Cash Flow From Investing Activity ⓘ | -49 | -10 | -5 | -6 | -77 | 10 | -20 |
| Capex | -50 | -10 | -4 | -5 | -6 | -22 | -25 |
| Net Investments | 0 | 0 | -1 | -1 | -72 | 47 | 14 |
| Others ⓘ | 0 | 0 | 0 | 0 | 0 | -15 | -9 |
| Cash Flow From Financing Activityⓘ | 6 | 21 | 8 | 5 | 62 | -45 | 23 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 18 | 157 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 27 | 2 | -4 | -5 | -38 | 0 | 0 |
| Interest Paid ⓘ | -7 | -8 | -10 | -11 | -9 | -5 | -3 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | -13 | 28 | 21 | 3 | -48 | -40 | 26 |
| Net Cash Flow ⓘ | -1 | 0 | 1 | 3 | -2 | 14 | -14 |
| PARTICULARS | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 30.58 | 19.77 | 16.52 | 10.2 | 10.76 | 10.16 | 8.82 | |||
| ROCE (%) | 25.46 | 21.3 | 15.04 | 13.85 | 14.13 | 14.63 | 12.55 | |||
| Asset Turnover Ratio | 0.58 | 0.53 | 0.44 | 0.38 | 0.44 | 0.45 | 0.42 | |||
| PAT to CFO Conversion(x) | 1.68 | -0.63 | -0.1 | 0.27 | 0.48 | 1.36 | -0.5 | Working Capital Days | ||
| Receivable Days | 62 | 128 | 225 | 264 | 220 | 227 | 255 | |||
| Inventory Days | 107 | 128 | 155 | 185 | 143 | 134 | 182 | |||
| Payable Days | 107 | 166 | 201 | 137 | 69 | 71 | 140 | |||
Paras Defence And Space Technologies is an Indian private sector company engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. It is one of the leading ‘Indigenously Designed Developed and Manufactured’(IDDM) category private sector companies in India, which caters to four major segments of Indian defence sector i.e. defence and space optics, defence electronics, electro-magnetic pulse (EMP) protection solution and heavy engineering. It is also the sole Indian supplier of critical imaging components such as large size optics and diffractive gratings for space applications in India.
The company has five principal categories of product offerings: defence and space optics, defence electronics, EMP protection, heavy engineering for defence and niche technologies. Its defence and space optics operations include manufacturing high precision optics for defence and space applications such as thermal imaging and space imaging systems. It is one of the leading providers of optics for various Indian defence and space programmes, and the only Indian company with the design capability for space-optics and opto-mechanical assemblies. Its defence electronics operations include providing a wide array of high performance computing and electronic systems for defence applications, including sub systems for border defence, missiles, tanks and naval applications. The company has two manufacturing facilities in Maharashtra, located at Nerul in Navi Mumbai and Ambernath in Thane. Its Nerul facility is an advanced nano technology machining centre for producing high quality optics and ultra -precision components and is engaged in manufacturing of Optics, Design, Development, Manufacturing and Integration of Electronics and EMP protection products and solutions.
Business area of the company
The company is primarily engaged in the designing, developing, manufacturing, and testing of a variety of defence and space engineering products and solutions. The company has five major product category offerings - Defence & Space Optics, Defence Electronics, Heavy Engineering, Electromagnetic Pulse Protection Solutions, and Niche Technologies.
Awards and accreditations
Major events and milestones
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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