Paras Defence share price rises 4% after bagging order worth ₹22 crore for anti-drone system. Do you own?
The defence stock has been trading in green, gained over 4 per cent in past five sessions. Paras Defence shares have given multibagger returns by surging over 243 per cent in five years.
In a regulatory filing on Tuesday, Paras Defence announced that it had received a Letter of Intent from Cerbair for the delivery of 30 units of the CHIMERA 200 drone countermeasure system, with the contract valued at ₹ 22.21 crore.
The order will be fulfilled by its subsidiary, Paras Anti-Drone Technologies Pvt Ltd, which focuses on drone jamming solutions. The company stated that the CHIMERA 200 is an advanced anti-jamming system capable of disabling hostile drones by interfering with their communication and control signals.
This agreement highlights a significant milestone for India's defence exports, with the French company's interest signaling increasing global trust in India's homegrown counter-drone technologies.
The company further said that the the deal worth approximately ₹ 22 crore (€2.2 million) by Paras, strengthens India's position as an emerging and reliable exporter of sophisticated defence technologies. It also aligns with the country's Make in India and Defence Production & Export Promotion Policy goals of achieving $5 billion in annual defence exports by 2025.
'Our collaboration withCERBAIR is proof of India's growing stature as trusted source of advanced anti-drone technologies. We're committed to delivering field-tested solutions that meet the world's highest standards and strengthen India's position as a global defence manufacturing hub," said Ashutosh Baheti, Chief Executive Officer, Paras Anti Drone Technologies.
Looking ahead, the CHIMERA 200 is set to play a pivotal role in India's defence export ambitions, showcasing the country's ability to deliver cutting-edge, mission-ready technologies to international partners while supporting the vision of making India a global hub for advanced defence manufacturing and innovation, the company said.
'India has moved beyond licensed manufacturing to become a global hub for the development and export of world-class technologies. By delivering field-proven, customizable solutions like the CHIMERA 200 to demanding international markets, we're demonstrating not just our technological strength but our commitment to supporting India's vision of self-reliance and leadership in defence exports," said Amit Mahajan, Director, Paras Defence and Space Technologies Ltd.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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