Paras poised to shape the future of defence

The Mumbai-based Paras Defence and Space Technologies Ltd has come a long way since it was founded in 1979 as a small engineering set-up. The BSE/NSE-listed company is a transformed entity today, offering a wide range of indigenously designed, developed and manufactured high-end products and solutions for defence and space applications. Having developed exclusive capabilities from concept to commissioning in the areas of defence electronics, defence and space optics, and defence heavy engineering, Paras Defence today significantly contributes to many of India’s most prestigious defence and space programmes.

Paras Defence has bagged a major domestic order worth around R46.19 crore from the Ministry of Defence, Government of India for supplying advanced anti-drone systems such as drone jammers for armed forces. The order also marks a key milestone for the company in the fast-growing counter-UAV segment. The order is expected to be executed by March this year. The order further strengthens Paras Defence’s leadership in next-generation defence technologies, aligning with the Government’s vision of Atmanirbhar Bharat and reinforcing India’s pursuit of self-reliance in defence manufacturing. The company has been at the forefront of developing indigenous anti-drone solutions designed to neutralize hostile drones in real time. These systems provide the armed forces with reliable counter measures against hostile aerial objects to safeguard sensitive installations, protect airspace, and ensure operational superiority.

The company’s operations span two core verticals: optics and optronic systems, and defence engineering, which includes defence electronics, electromagnetic pulse (EMP) protection solutions, and heavy engineering. Today, Paras Defence takes pride in being the sole Indian private company equipped with comprehensive capabilities to design and manufacture high-end optical systems such as submarine optronic periscopes, EO/IR (electro-optical/infrared) systems for various platforms including armoured vehicles, border surveillance, naval vessels, avionics and drones/unmanned aerial vehicles (UAVs), large-format space optics, and hyperspectral imaging systems for space applications.

Currently, Paras is the only Indian company developing and manufacturing optronic periscopes in the Asia-Pacific region for submarine applications. The company delivers one periscope every three months and is aiming for higher output. It has recently secured an order worth around R72 crore from the Defence Research and Development Organisation (DRDO) for the supply of two optronic periscopes for submarine applications. Optronic periscopes are critical components in modern submarines, providing enhanced surveillance and targeting capabilities, which bolster the operational effectiveness of the Indian Navy. This contract underscores Paras’ commitment to advancing India’s defence capabilities through indigenous technology development.

The company is also the only private Indian company to develop and manufacture hyperspectral cameras for defence and space applications. These cameras are scheduled to be jointly launched by DRDO and ISRO in the current fiscal year. This presents a long-term opportunity for the company, as hyperspectral cameras form part of almost every optical space mission. Paras Defence is also the sole Indian company to offer turnkey EMP protection solutions. It is the creator of a first-of-its-kind Border Defence System designed to safeguard the country’s frontline soldiers from enemy fire, and the only Indian company to manufacture cameras for drones and UAVs.

Its technological footprint spans a wide spectrum of strategic applications – from rockets and missiles to naval platforms, land and armoured systems, space research, electronic warfare, surveillance, and electromagnetic shielding.

Paras’ state-of-the-art facilities support end-to-end delivery, from concept and design through manufacturing to integration and commissioning of both small and large systems. A strong emphasis on R&D highlights its role as an Indigenous Design, Development and Manufacturing (IDDM) partner for India’s defence industry. The company also exports its systems and solutions to countries including Israel, Europe, the USA, and South Korea.

“We are the only Indian private company with comprehensive, all-round capabilities to design, system engineer, manufacture, integrate, and qualify optical systems for space programmes. We continue to build advanced optical components and payloads, as well as hyperspectral imaging systems and subsystems for ISRO, private companies, and export markets. Our collaborations, in-house R&D, and indigenous manufacturing place us at the heart of India’s next-generation space missions,” says Munjal Shah, managing director, Paras Defence and Space Technologies.

Trusted partner

Paras Defence is trusted by government organisations and PSUs including DRDO, ISRO, Ordinance Factories, Bharat Electronics, Hindustan Shipyard, BrahMos Aerospace, Bharat Dynamics, Goa Shipyard, Mazagon Dock, the Department of Atomic Energy, CSIR-National Aerospace Laboratories, and the National Physical Laboratory of India. In the private sector, the company’s clientele includes L&T, Tata, Godrej, Premier Explosives Limited, Alpha Design Technologies Pvt Ltd, and Astra Rafael Comsys Pvt Ltd. Globally, the company services customers such as Rafael Advanced Defence Systems Ltd, Israel Aerospace Industries, Elbit Systems, Controp, Tae Young Optics Ltd, and Chaban Group.

Amidst these developments, Paras Defence has made significant strides over the past decade in exploring emerging opportunities arising from the government’s favourable policies in the defence and space sectors. Over the last 4 years, the company has doubled its revenue to Rs365 crore in FY25 from around Rs183 crore in FY22. For the half-year ended September 2025, the company posted revenue of Rs199 crore compared with Rs171 crore for the same period in the previous year. Going forward, it is geared up to maintain this momentum, targeting a CAGR of around 40 per cent over the next 2-3 years. The company currently boasts an order book of over Rs900 crore, to be executed over a timeframe ranging from around three months to 12 months.

“We align our efforts with the vision of Atmanirbhar Bharat. At Paras Defence, our focus lies in crafting advanced optoelectronic systems, border surveillance technologies, high-power laser systems, EMP protection solutions, defence electronics and anti-drone technologies, and in becoming a significant contributor to the country’s air defence technologies, thereby bolstering India’s modern warfare preparedness. Our expertise is underpinned by world-class manufacturing facilities and a resolute dedication to innovation and technology development. While comprehensive design-to-delivery capabilities support indigenisation, global collaborations simultaneously enhance scalability,” adds Shah, who has played a pivotal role in transforming the company into a large-scale enterprise with diverse technologies serving India’s defence and space sector, as well as international markets.

The company’s blueprint for the future includes diversifying its product portfolio, enhancing manufacturing infrastructure, and deepening participation in global defence and space supply chains. Paras Defence has also entered future-focused areas such as laser-based air defence systems, anti-drone systems, quantum communication, and quantum sensing.

Going forward, the company aims to become India’s No 1 high-end optical systems company, catering to both domestic and global markets through in-house R&D and global partnerships. It is also looking to position itself as India’s leading laser-based air defence company. Currently, Paras Defence is in the process of offering turnkey laser-based air defence solutions and providing mitigation options against hostile drones and aerial targets. Coupled with other systems, the company aims to deliver comprehensive air defence solutions. Paras Defence also aspires to become India’s No 1 electromagnetics company, offering turnkey EMP protection solutions covering electromagnetic pulse shielding, anechoic chambers, and antenna test ranges, among others, for both domestic and global markets.

“Technology has become central to the global defence and space landscape. At Paras Defence, our strong emphasis on technology development distinguishes us as a prominent IDDM company. We have deepened our focus on strengthening indigenous capabilities to further contribute to the ‘Make in India’ initiative and promote Atmanirbharata. Our efforts are geared towards delivering end-to-end solutions in critical segments such as electro-optics, defence electronics and EMP protection. Further, we are making significant strides in emerging domains such as drone and anti-drone technologies and space optics. By harnessing the power of talent, technology and trust, we are driving excellence to ensure national security and emerge as a trusted partner in global value chains,” states Sharad Shah, chairman, Paras Defence and Space Technologies, who founded the company in 1979. He is the father of the company’s MD.

Comprehensive capabilities

The company’s operations are structured across two core verticals: optics and optronic systems, and defence engineering. Both segments are dedicated to delivering value across high-impact applications in defence, aerospace and space. The company is equipped with comprehensive capabilities to design and manufacture high-end optical systems such as submarine optronic periscopes and EO/IR systems for various platforms.

The defence engineering vertical houses the core engineering competencies across electronics, mechanical systems and EMP protection solutions. From high-performance defence electronic systems and critical mechanical systems to exclusive turnkey EMP protection solutions, the offerings meet the highest technical and regulatory standards for defence and critical infrastructure.

In optics and optronic systems, the company has a wide-ranging defence and space optics portfolio, where it manufactures, through ultra-precision manufacturing, high-end products such as IR (infrared) lenses, optical domes, gyro blocks, diffractive gratings, large-size space mirrors, multi-fold lenses, high-precision Zerodur optical mirrors, optical reflectors, metal mirrors and lens assemblies. The company offers specialised turnkey solutions for complex opto-mechanical lens assemblies. Such lens assemblies hold optical elements in the correct position and maintain alignment across the range of temperature, pressure and vibration conditions encountered during operation of optical systems.

The company manufactures optronic systems such as hyperspectral imaging systems, remotely controlled weaponised stations, optical submarine periscopes, border surveillance systems, and red dot reflex sights, which are a common classification for non-magnifying reflector (or reflex) sights that provide an illuminated red dot to the user as a point of aim.

Paras Defence has a state-of-the-art manufacturing set-up (AS9100D-certified processes) across two locations in Navi Mumbai and Ambernath, Thane. These facilities, backed by a workforce of over 600, can offer turnkey solutions from design to commissioning of small to large systems. The company boasts cutting-edge manufacturing capabilities, including a one-of-its-kind nano-machining set-up, CNC machining, optical coatings, and certified electronic assembly.

For Paras Defence, R&D remains at the core of its identity as a technology-first defence company. Its in-house R&D units in Navi Mumbai and Bengaluru, comprising over 100 R&D team members and recognised for their advanced technical capabilities, support end-to-end product development across high-impact domains. The company, which has DSIR-recognised R&D capabilities, has secured patents for EMP-protected rugged displays, shock- and vibration-proof heavy-duty consoles, and EMP-protected racks.

“The company has a highly efficient manufacturing set-up, which includes state-of-the-art machinery, a well-trained and skilled workforce, a well-equipped quality team, a robust supply-chain group, an experienced system integration team, and on-the-job trained commissioning engineers. Our efforts have been directed towards developing and upgrading next-generation systems. These initiatives are supported by our facilities equipped for design, testing, and MIL-STD qualification of advanced sub-systems and assemblies. In fact, we are one of the oldest design houses and probably the best in the area of defence engineering. Most of our projects are design and development projects, focused on providing cutting-edge solutions to customer requirements through extensive in-house R&D efforts,” says Amit Mahajan, Director – Technical and R&D, Paras Defence.

While building its capabilities, the company has also been joining hands with global leaders. It has formed a joint venture with Controp Precision Technologies, Israel, one of the world’s leading EO/IR companies, to manufacture world-class EO/IR systems in India for various platforms, including drones, under the government’s ‘Make in India’ initiative. The company has also collaborated with MicroCon Vision Ltd, Israel, part of Controp and the Rafael Group, to bring advanced drone camera technology to India. MicroCon will serve as Paras Defence’s exclusive supplier for drone cameras, including ISR (Intelligence, Surveillance, and Reconnaissance) payloads and electro-optical/infrared seekers, while Paras becomes MicroCon’s exclusive partner for ISR operations in India.

Collaboration

The company has also signed a strategic joint venture with HevenDrones Israel, an independent subsidiary of Heven – a US-based global company recognised for its autonomous, hydrogen-powered, and mission-specific drones. The joint venture will establish a new entity in India to design, manufacture, and supply next-generation drone systems tailored for India’s defence and homeland security landscape, with long-term plans to address global markets.

With a vision to accelerate India’s capabilities in high-performance space technologies, Paras Defence has signed a teaming agreement with Germany-based High Performance Space Structure Systems GmbH. This partnership marks a significant milestone in India’s journey towards self-reliance in space technologies, aligning with the national vision of Atmanirbhar Bharat. Under this agreement, Paras and the German company will collaborate exclusively in the Indian region to co-develop and supply advanced unfurlable and deployable antenna reflector subsystems for space applications.

With all these initiatives in place, Paras is making significant strides in India’s growing defence and space sectors. Over the past decade, the company, supported by an array of favourable policies from the Government of India, has effectively explored opportunities emerging in these previously highly regulated sectors. Today, the company is the sole Indian supplier of crucial imaging components for space applications, such as large-sized optics and diffractive gratings.

It is also the only Indian company manufacturing electro-optic cameras for drones and UAVs, giving it a unique market position. The company has made major inroads into the anti-drone and drone technology space. This aligns well with the Indian government’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, securing technology transfer agreements with agencies such as DRDO and supplying major clients including ISRO, HAL, and BEL.