Paras Defence Reports Strong Q2 FY24-25 Results Amid Increased Institutional Interest
Paras Defence and Space Technologies has recently undergone an adjustment in evaluation, reflecting the company's current market dynamics and financial metrics. The small-cap firm, operating within the defence industry, has reported notable financial results for the second quarter of FY24-25. The profit before tax, excluding other income, reached Rs 16.49 crore, demonstrating a growth rate of 49.1%. Additionally, net sales for the first nine months stood at Rs 250.35 crore, while profit after tax for the same period was recorded at Rs 38.68 crore.The company maintains a low debt-to-equity ratio, which is indicative of its financial stability. Furthermore, there has been an uptick in institutional investor participation, with a 2.23% increase in their stake, bringing their collective ownership to 6.33%. This trend suggests a growing confidence among institutional investors in the company's fundamentals.
Despite these positive indicators, the long-term growth rate of operating profit has been modest, averaging 8.00% over the past five years. The company's return on capital employed (ROCE) stands at 11, and it is currently trading at a premium relative to its historical valuations.
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