The Defence Research and Development Organization (DRDO) has finally chosen Paras Defence and Space Technologies for handing over the technology of border surveillance systems as developed by Instruments Research & Development Establishment and DRDO.
This technology has been transferred by a licensing agreement for the transfer of technology (ToT) for border surveillance systems entered between the company, Instruments Research & Development Establishment (IRDE) and Defence Research and Development Organization (DRDO).
This system shall provide all-weather surveillance for day and night monitoring of the border areas, it shall consist of Radar, EO sensors, etc., mounted on Pan Tilt platforms. With this ToT, Paras Defence and Space Technologies shall be serving the requirement of the Armed Forces of the nation.
On a consolidated basis, the company reported a 72.4% rise in net profit to Rs 8.07 crore on a 58.9% increase in net sales to Rs 50.48 crore in Q2 FY22 over Q2 FY21.
Paras Defence and Space Technologies are primarily engaged in designing, developing, manufacturing and testing a wide range of defence and space engineering products and solutions.
Its product offerings cater to four major segments of the Indian defense sector i.e. defence and space optics, defense electronics, electro-magnetic pulse (EMP) protection solution and heavy engineering for defense and niche technologies.