Paras Defence and Space Technologies is primarily engaged in designing, developing, manufacturing and testing of a wide range of defence and space engineering products and solutions. Its product offerings cater to four major segments of the Indian defence sector i.e. defence and space optics, defence electronics, electro-magnetic pulse (EMP) protection solutions and heavy engineering for defence and niche technologies.

The company's consolidated net profit surged to 7.07 crore in Q1 FY23 from Rs 1.01 crore posted in Q1 FY22. Net sales soared 67% year on year to Rs 40.76 crore in Q1 FY23.