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Last Updated on: 20 April, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 543367 | NSE: PARAS

Fundamental Analysis of Paras Defence and Space Technologies Ltd

Basic Stock Data

Last Updated: April 20, 2024, 2:43 am

Market Cap 2,702 Cr.
Current Price 693
High / Low848/491
Stock P/E82.5
Book Value 110
Dividend Yield0.00 %
ROCE13.2 %
ROE9.10 %
Face Value 10.0

Data Source: screener.in

Competitors of Paras Defence and Space Technologies Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Mishra Dhatu Nigam Ltd 7,841 Cr. 419548/19070.6 70.40.80 %14.6 %12.6 % 10.0
Zen Technologies Ltd 8,272 Cr. 9841,059/28072.9 45.90.02 %17.3 %12.0 % 1.00
Hindustan Aeronautics Ltd 2,48,928 Cr. 3,7223,739/1,37040.5 3750.74 %30.6 %27.2 % 5.00
Industry Average88,347.00 Cr1,708.3361.33163.770.52%20.83%17.27%5.33

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales23.9273.7523.8152.1343.5960.4741.4854.6360.1258.0544.7259.8062.79
Expenses20.6843.1017.7336.4631.5242.8129.6839.9544.9644.4134.2043.6949.28
Operating Profit3.2430.656.0815.6712.0717.6611.8014.6815.1613.6410.5216.1113.51
OPM %13.55%41.56%25.54%30.06%27.69%29.20%28.45%26.87%25.22%23.50%23.52%26.94%21.52%
Other Income0.140.610.380.171.101.360.961.055.510.810.981.270.94
Interest3.383.862.352.211.251.970.090.523.641.960.460.651.06
Depreciation2.432.412.612.482.592.642.602.672.692.722.873.183.03
Profit before tax-2.4324.991.5011.159.3314.4110.0712.5414.349.778.1713.5510.36
Tax %9.47%28.61%34.67%23.95%24.65%27.69%25.22%27.99%26.71%9.31%24.11%25.46%26.64%
Net Profit-2.2017.840.988.487.0310.427.539.0310.518.866.2010.107.60
EPS in Rs-0.775.980.322.171.802.671.932.322.692.271.592.591.95

Last Updated: April 10, 2024, 5:59 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 5, 2024, 11:05 pm

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales48143154147133180214225
Expenses3910211110790128158172
Operating Profit841434043525654
OPM %18%29%28%27%33%29%26%24%
Other Income03321384
Interest47101013874
Depreciation2791010101112
Profit before tax330272222364742
Tax %33%18%29%10%31%26%23%
Net Profit225192015273633
EPS in Rs4.0550.0633.517.035.056.909.218.40
Dividend Payout %0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)1150.00%-24.00%5.26%-25.00%80.00%33.33%
Change in YoY Net Profit Growth (%)0.00%-1174.00%29.26%-30.26%105.00%-46.67%

Growth

Compounded Sales Growth
10 Years:%
5 Years:8%
3 Years:14%
TTM:4%
Compounded Profit Growth
10 Years:%
5 Years:8%
3 Years:22%
TTM:-13%
Stock Price CAGR
10 Years:%
5 Years:%
3 Years:%
1 Year:34%
Return on Equity
10 Years:%
5 Years:10%
3 Years:9%
Last Year:9%

Last Updated: April 16, 2024, 6:25 pm

Balance Sheet

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital5662830393939
Reserves27118147145177339374390
Borrowings30668510310529025
Other Liabilities33679266504890102
Total Liabilities94257330342362454503557
Fixed Assets42171168158157154158163
CWIP01351049
Investments9000141926
Other Assets4384159179203296322360
Total Assets94257330342362454503557

Reserves and Borrowings Chart

Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -241349
Cash from Investing Activity -5-6-7710
Cash from Financing Activity 8562-45
Net Cash Flow13-214

Free Cash Flow

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-22.00-25.00-42.00-63.00-62.0023.0056.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days8765197242261247247
Inventory Days294204281304483299323
Days Payable1871072321351006987
Cash Conversion Cycle194162246412645477482
Working Capital Days14287198313462394339
ROCE %30%17%13%12%12%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters58.94%58.94%58.94%58.94%58.94%58.94%58.94%58.94%58.94%58.94%
FIIs4.36%0.80%0.23%0.23%0.81%0.77%0.53%0.11%0.56%0.49%
DIIs7.60%3.41%2.63%2.60%2.33%2.64%2.57%2.21%2.72%2.73%
Public29.10%36.85%38.20%38.23%37.93%37.65%37.95%38.73%37.79%37.84%
No. of Shareholders42,2082,34,4082,45,3242,40,3292,22,4452,29,0152,32,3672,39,9112,58,6132,53,462

Shareholding Pattern Chart

No. of Shareholders

Paras Defence and Space Technologies Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Nippon India Small Cap Fund5473260.144.36
Nippon India Power & Infra Fund5021611.0540.7

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)9.257.785.556.926.75
Diluted EPS (Rs.)9.257.785.556.926.75
Cash EPS (Rs.)12.149.628.5210.3449.94
Book Value[Excl.RevalReserv]/Share (Rs.)95.2986.3355.2346.03194.54
Book Value[Incl.RevalReserv]/Share (Rs.)106.0197.0669.2460.76268.15
Revenue From Operations / Share (Rs.)57.0346.8148.0151.75271.73
PBDIT / Share (Rs.)16.6614.0614.9614.5380.26
PBIT / Share (Rs.)13.7711.3911.7311.1163.70
PBT / Share (Rs.)12.059.387.577.6747.19
Net Profit / Share (Rs.)9.256.945.296.9233.39
NP After MI And SOA / Share (Rs.)9.246.935.276.9233.39
PBDIT Margin (%)29.2030.0331.1628.0729.53
PBIT Margin (%)24.1324.3224.4321.4623.44
PBT Margin (%)21.1120.0315.7714.8217.36
Net Profit Margin (%)16.2114.8311.0113.3612.28
NP After MI And SOA Margin (%)16.2114.8110.9713.3612.28
Return on Networth / Equity (%)9.708.049.5415.0217.16
Return on Capital Employeed (%)12.2711.0613.6413.4716.45
Return On Assets (%)6.925.904.335.745.75
Long Term Debt / Equity (X)0.000.000.150.280.34
Total Debt / Equity (X)0.030.090.560.740.68
Asset Turnover Ratio (%)0.450.440.370.430.00
Current Ratio (X)3.805.271.901.651.44
Quick Ratio (X)2.684.091.201.090.84
Inventory Turnover Ratio (X)1.251.090.881.180.00
Interest Coverage Ratio (X)9.677.003.604.224.86
Interest Coverage Ratio (Post Tax) (X)6.374.462.273.013.02
Enterprise Value (Cr.)1808.912395.350.000.000.00
EV / Net Operating Revenue (X)8.1313.120.000.000.00
EV / EBITDA (X)27.8443.690.000.000.00
MarketCap / Net Operating Revenue (X)8.2513.360.000.000.00
Price / BV (X)4.947.250.000.000.00
Price / Net Operating Revenue (X)8.2513.360.000.000.00
EarningsYield0.010.010.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 842.34

The stock is undervalued by 21.55% compared to the current price ₹693

Calculation basis:

  • Fair value = (P/E Ratio * (Return on Equity / 100) * Book Value) * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (214.63 cr) compared to borrowings (55.38 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (155.50 cr) and profit (28.63 cr) over the years.
  1. The stock has a low average ROCE of 13.86%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 276.43, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 374.00, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Paras Defence and Space Technologies Ltd:
    1. Net Profit Margin: 16.21%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 12.27% (Industry Average ROCE: 20.83%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 9.70% (Industry Average ROE: 17.27%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 6.37
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 2.68
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 82.5 (Industry average Stock P/E: 61.33)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✓ Total Debt / Equity: 0.03
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating: ★★★︎☆☆

About the Company

Paras Defence and Space Technologies Ltd. is a Public Limited Listed company incorporated on 16/06/2009 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L29253MH2009PLC193352 and registration number is 193352. Currently Company is involved in the business activities of Manufacture of electronic components. Company’s Total Operating Revenue is Rs. 180.00 Cr. and Equity Capital is Rs. 39.00 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Aerospace & DefenseD-112, TTC Industrial Area, New Mumbai Maharashtra 400706business@parasdefence.com
http://www.parasdefence.com
Management
NamePosition Held
Mr. Sharad Virji ShahChairman & Non-Exe.Director
Mr. Munjal Sharad ShahManaging Director
Ms. Shilpa Amit MahajanWhole Time Director
Mr. Manmohan HandaInd. Non-Executive Director
Dr. Hina Amol GokhaleInd. Non-Executive Director
Mr. Suresh KatyalInd. Non-Executive Director

Paras Defence and Space Technologies Ltd. Share Price Update

Share PriceValue
Today₹693.75
Previous Day₹693.35

FAQ

What is the latest fair value of Paras Defence and Space Technologies Ltd?

The latest fair value of Paras Defence and Space Technologies Ltd is 842.34.

What is the Market Cap of Paras Defence and Space Technologies Ltd?

The Market Cap of Paras Defence and Space Technologies Ltd is 2,702 Cr..

What is the current Stock Price of Paras Defence and Space Technologies Ltd as on 20 April 2024?

The current stock price of Paras Defence and Space Technologies Ltd as on 20 April 2024 is 693.

What is the High / Low of Paras Defence and Space Technologies Ltd stocks in FY 2024?

In FY 2024, the High / Low of Paras Defence and Space Technologies Ltd stocks is ₹848/491.

What is the Stock P/E of Paras Defence and Space Technologies Ltd?

The Stock P/E of Paras Defence and Space Technologies Ltd is 82.5.

What is the Book Value of Paras Defence and Space Technologies Ltd?

The Book Value of Paras Defence and Space Technologies Ltd is 110.

What is the Dividend Yield of Paras Defence and Space Technologies Ltd?

The Dividend Yield of Paras Defence and Space Technologies Ltd is 0.00 %.

What is the ROCE of Paras Defence and Space Technologies Ltd?

The ROCE of Paras Defence and Space Technologies Ltd is 13.2 %.

What is the ROE of Paras Defence and Space Technologies Ltd?

The ROE of Paras Defence and Space Technologies Ltd is 9.10 %.

What is the Face Value of Paras Defence and Space Technologies Ltd?

The Face Value of Paras Defence and Space Technologies Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Paras Defence and Space Technologies Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE