LiveNSE delayed · 128/128 · 20 Aug 2026, 09:55 am
Scores stay the 15 Aug 2026 desk snapshot. Not advice.
PARAS · Defence · Small Cap · Live 20 Aug 2026, 09:55 am · Discovery

Paras Defence and Space Technologies Ltd

Optics, space and defence electronics. Narrative-rich, economics less proven than Data Patterns.

10X Low
Moderate Risk
Attractive Entry
Turnaround
Multibagger score
45.9/100
Market cap
₹6,418 Cr
Last price · live
₹1,534.0
+37.60 (+2.51%)
52W
₹581–₹1,577

Implied P/E 70.4x · PARAS.NS · delayed NSE

10X potential (scenario)
LOW
Base multiple
1.3x
Bull multiple
3.9x
Classification
Low Probability

Starting size, cyclicality or valuation leave little room for a dramatic re-rating on conservative maths.

Final investment scorecard

Multibagger45.9 / 100
10X potentiallow
Business quality2.0 / 10
Growth runway6.1 / 10
Competitive advantage5.2 / 10
Management5.6 / 10
Balance sheet5.3 / 10
Valuation2.3 / 10
Technical setup8.2 / 10
Riskmoderate

Why it could become a multibagger

  • If production orders finally land, operating leverage on a small base is large.
  • Optics + space is still a scarce listed set in India.

What needs to go right

  • A year of clean beats
  • FCF turn
  • A large production order

What could destroy the thesis

  • Another two years of slipped conversion
  • A related-party surprise
  • Permanent developmental-only mix

What would make me sell

  • Another full-year miss
  • ROCE < 8%
  • Promoter pledge

Key metrics to monitor

Order conversion
OCF
Receivables
ROCE
Inst holding
Guidance vs actual

Illustrative FY25 / TTM desk snapshot compiled for this terminal. Not a live NSE/BSE feed. Cross-check annual reports, exchange filings and investor presentations before use.