Paras Defence and Space Technologies Limited shares surged nearly 5% after the company announced securing a significant order valued at approximately ₹305 crore (plus taxes) from Larsen and Toubro Limited (L&T). The contract includes the manufacturing and supply of 244 units of the Sight – 25HD EO (Electro-Optics) System, along with extended warranty charges and an Integrated Logistics Support (ILS) package for L&T’s Close-In Weapon System (CIWS) program.
Order Details and Execution
The order will be executed through Controp-Paras Technologies Private Limited, an associate company of Paras Defence. The Indian Content (IC) portion of the contract is valued at ₹293 crore (plus taxes), which Paras Defence will fulfill under a separate contract issued by Controp-Paras Technologies.
- Awarding Entity: Larsen and Toubro Limited (L&T)
- Scope of Work: Manufacturing and supply of 244 units of the Sight – 25HD EO System, with extended warranty and ILS package for L&T’s CIWS program.
- Contract Nature: Domestic manufacturing order.
- Execution Timeline: The order will be completed within 47 months.
- Order Value: Approximately ₹305 crore, with ₹293 crore allotted for Indian Content.
This order solidifies Paras Defence’s collaboration with Controp-Paras Technologies and L&T, further establishing its role in providing defense technologies. The company will align its production with India’s “Make in India” initiative.
Market Impact
As of 11:33 am, shares of Paras Defence and Space Technologies Ltd were trading 4.20% higher at ₹1,111.50 on the National Stock Exchange (NSE), indicating positive market sentiment following the announcement.
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