Paras Defence Signs MoU with Heaven Drones for Drone Manufacturing JV

Paras Defence and Space Technologies Ltd has signed a Memorandum of Understanding (MoU) with Israel-based HevenDrones Ltd on May 5, 2025. The agreement outlines an intent to collaborate in the defence and civil drone sectors, focusing on opportunities in both Indian and international markets.

Plan to Set Up Joint Venture in India

As part of the MoU, both companies aim to establish a joint venture (JV) in India. The JV will focus on developing and manufacturing logistics and cargo drones. The project is expected to align with the Government of India’s Make in India initiative. Specific details regarding the investment, ownership, and structure of the JV will be disclosed once the formal agreement is signed.

Q4 FY25 Performance

Paras Defence reported a strong financial performance for the fourth quarter of FY25:

• Net Profit: ₹19.7 crore, up from ₹10 crore in the same quarter last year
• Revenue: ₹108.2 crore, compared to ₹79.7 crore last year
• EBITDA: ₹28.3 crore, up from ₹3.4 crore
• EBITDA Margin: 26.2%, compared to 15.6% in the previous year

Equity Share Split Announced

The company’s board has approved a stock split. One equity share of face value ₹10 will be split into two equity shares of ₹5 each. The record date for this split will be communicated later.

Read more: Paras Defence Shares Slipped ~3% Despite Signing of MoU with Israel Firm

Stock Movement

As of 12:46 PM on May 6, 2025, Paras Defence and Space Technologies share price was trading at ₹1,368.50, down ₹7.10 or 0.52% for the day; the stock has gained 27.55% over the past six months and 92.26% over the past year.

Conclusion

The MoU with HevenDrones is the beginning of a new business arrangement aimed at drone production in India. The formal joint venture details will be shared once the agreement is finalised.

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