Paras Defence declares dividend, stock split; record date, Q4 results, other key details

Along with its March quarter results, Paras Defence & Space Technologies Ltd on Wednesday announced sub-division or split of existing one equity share of face value of Rs 10 each, fully paid-up, into two shares of face value of Rs 5 each, fully paid- up, subject to shareholders’ approval. 

The defence company also declared a final dividend of Re 0.50 per share for FY25. This on the face value of Rs 5 -- post the completion of the sub-division/split of equity shares. 

Paras Defence said the date of the Annual General Meeting (AGM) for the FY 2024-25, the record date for the purpose of the final dividend and the date from which dividend, if approved by the shareholders, will be paid, would be communicated in due course. 

On stock split, Paras Defence said the record date for the purpose of sub-division/ split of equity shares would be decided after obtaining approval for sub-division/split from the shareholders through postal ballot electronic voting process and will be intimated in due course.

"The split of equity shares will make the shares more affordable and attractive to invest, behind the split | thereby encouraging greater participation of retail investors and will also enhance the liquidity of the Company’s shares in the market," Paras Defence said.

The split process will be completed within 2 months from the date of approval by the members of the company. 

The company's authorised share capital would increase from 6,05,00,000 shares of face value Rs 10 to 12,10,00,000 shares with face value of Rs 5 each. The issued, paid up and subscribed share capital of the company would jump from 4,02,93,665 shares (total value: Rs 40,29,36,650) to 8,05,87,330 shares (total value: Rs 40,29,36,650).

Paras Defence Q4 results

Paras Defence & Space Technologies reported a 97.79 per cent year-on-year (YoY) rise in net profit at Rs 19.72 crore for the March quarter compared with Rs 9.97 crore in the same quarter last year. Revenue for the quarter came in at Rs 108.23 crore, up 26 per cent over 79.69 crore in the same quarter last year.

The company was recently selected as a key industry partner in the MEITY-led consortium for developing India’s first indigenous MRI machines. Paras Defence said it would be responsible for developing and manufacturing the critical MRI magnets—marking its first technology line in the medical domain and a major milestone in India’s push toward self-reliance in advanced medical technologies.