Paras Defence inks pact with MicroCon Vision

Paras Defence and Space Technologies announced that it has signed a memorandum of understanding (MoU) with MicroCon Vision (MicroCon), a subsidiary of CONTROP and the Rafael Group, Israel.

MicroCon specializes in the design, development, production, and marketing of ISR (intelligence, surveillance, and reconnaissance) payloads and EO/IR (electro-optical/infra-red) seekers for drones and unmanned aerial vehicles (UAVs). Under this agreement, Paras Defence and MicroCon will exclusively collaborate in India on the development of Micro ISR payloads.

Paras Defence and Space Technologies offers high-precision products and turnkey solutions to the defense and space sector, operating in three main verticals: defense and space optics, defense electronics solutions, and heavy engineering. As of 31 December 2024, the Government of India held 57.05% in the company.

 

The company had reported a consolidated net profit of Rs 15.04 crore in Q3 FY25, a 125.82% increase as against Rs 6.66 crore posted in Q3 FY24. Revenue from operations spiked 33.63% to Rs 85.77 crore in Q3 FY25 as against Rs 64.18 crore recorded in the corresponding quarter last year.

Shares of Paras Defence and Space Technologies shed 0.89% to Rs 968.70 on the BSE.

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