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Paras Defence and Space Technologies delivered a strong March quarter, with profit jumping a little over 74% on an annual basis as defence orders continued to pick up.
By the numbers:
Net Profit: up 74.6% YoY at ₹34.4 cr vs ₹19.7 cr
Revenue: up 58.3% YoY at ₹171.3 cr vs ₹108.2 cr
EBITDA: up 50.5% YoY at ₹42.6 cr vs ₹28.3 cr
Margin: at 25% vs 26% YoY
But despite the strong numbers, the stock failed to hold on to early gains.
The reason? Investors were disappointed with the company’s FY26 revenue growth guidance of 30%, which came in lower than the earlier management projection of 40-50% growth.
Margins also saw some pressure. One bright spot was the company’s Defence Engineering business, where revenue surged 48% to ₹277 crore.
Big picture: there’s a reason why defence companies often report their strongest numbers in the March quarter and it’s less about luck, more about how government spending works.
Companies like Bharat Electronics, HAL, Bharat Dynamics and Paras Defence typically see a sharp spike in Q4 because government departments rush to fully utilise budgets before the financial year ends.
That means large defence orders, deliveries, milestone payments, and billing clearances usually accelerate in the final quarter to avoid funds lapsing.
