Paras Defence hits the roof after bagging supply order from Defence Ministry entity

Opto Electronics Factory (OLF) is a unit of India Optel Ltd., Govt. of India Enterprise, Ministry of Defence, Dehradun.

The contract is for the supply of 5 types of electronic control sub-systems used in thermal imaging fire control system (TIFCS) delivered by OLF to Indian Armed Forces.

The contract has to be executed within a period of 24 months.

Paras Defence and Space Technologies offers high precision products and turnkey solutions to the defense and space sector, operating in three main verticals ' defence and space optics, defence electronics solutions, and heavy engineering. As on 30 June 2024, the Government of India held 58.94% in the company.

The company had reported 47.13% rise in consolidated net profit to Rs 13.86 crore on a 42.05% increase in sales to Rs 87.09 crore in Q2 FY25 over Q2 FY24.