Paras Defence, IUAC to develop indigenous MRI magnet systems

Paras Defence and Space Technologies Ltd on Monday, November 24, said it has signed a memorandum of understanding with the Inter-University Accelerator Centre (IUAC), New Delhi, to jointly develop commercial-grade

MRI magnet systems in India. The IUAC, an autonomous institute under the University Grants Commission and the Ministry of Education, conducts particle-accelerator-based research and development. Under the partnership, the two will combine their technical capabilities to build superconducting MRI magnet technology domestically, a move the company said aligns with India’s push for self-reliance under the Aatmanirbhar Bharat initiative.

Shares of Paras Defence closed at ₹705 which is 2.27% lower than the day's opening on the NSE.

Paras Defence Q2 Results 

The company reported a strong earnings for Q2 of the current financial year, making ₹21 crore in net profit, up 50% year-on-year from ₹14 crore last year.

Revenue grew 21.8% YoY to ₹106 crore on the back of healthy execution across its optics, defence electronics, and space engineering divisions.

Earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 32% to ₹30 crore compared to ₹22.7 crore from the year-ago period.

EBITDA margin expanded to 28.3% from 26.1% in the same period last year, underscoring improved profitability.

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