“We are pleased to inform you that Paras Defence and Space Technologies Limited (‘PARAS’) has entered into an MOU (Memorandum of Understanding) on May 05, 2025 with Hevendrones Ltd., (‘HD’), Israel with an intent to create new opportunities and expand both parties’ business in the Indian and Global Defence sector,” the company said in a regulatory filing.
As part of the agreement, both companies plan to establish a joint venture in India to develop and manufacture logistics and cargo drones. The initiative aligns with the Indian government’s ‘Make in India’ programme and aims to serve domestic and international markets.
This marks Paras Defence’s second partnership with an Israeli firm in recent weeks. Earlier this month, the company signed an MoU with MicroCon Vision, part of the Controp and Rafael Group, to strengthen India’s defence and drone ecosystem. Earlier this year, Paras also received a licence to manufacture light machine guns.
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Paras Defence Q4 earnings
In the March quarter of FY25, Paras Defence reported a 97% year-on-year jump in net profit to Rs 19.7 crore, up from Rs 10 crore a year earlier. Revenue rose 36% YoY to Rs 108.2 crore.EBITDA surged to Rs 28.3 crore from Rs 3.4 crore in the same period last year, while margins expanded to 26.2% from 15.6%.Also Read: 8 Nifty Microcap stocks that can jump 100-230% in the next 12 months
Paras Defence shares price performance
On Monday, Paras Defence shares closed 2.1% higher at Rs 1,375.7 on the BSE, while the benchmark Sensex rose 0.37%. The stock has gained 37% year-to-date and 154% over the past two years. Its current market cap stands at Rs 5,543 crore.
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