Paras Aerospace bags order of Rs.42.4 Cr for agri-drones supply

Paras Aerospace bags order of Rs.42.4 Cr for agri-drones supply

Paras Aerospace Bags Order for Agri-Drones Supply

Paras Aerospace Private Limited, a subsidiary of Paras Defence & Space Technologies Limited, has secured a significant contract from IFFCO Nano Fertilisers. The contract entails the procurement of 400 units of state-of-the-art Agri-Drones, along with a comprehensive two-year Annual Maintenance Contract (AMC). The total value of this deal amounts to approximately Rs. 42.4 Crores, excluding applicable taxes.

The contract comprises two key components. Firstly, the deliveries of the Agri-Drones, including all necessary accessories and spares, hold a total value of around Rs. 34.7 Crores. Secondly, the two-year AMC has an estimated value of Rs. 7.7 Crores. When combined, these figures result in the overall contract value of approximately Rs. 42.4 Crores, exclusive of applicable taxes.

To meet the terms of the agreement, Paras Aerospace Private Limited is committed to delivering the entire order of 400 Agri-Drones by March 31, 2024.

In other news, the shares of Paras Defence and Space Technologies Ltd experienced a slight decline in their trading price on the Bombay Stock Exchange (BSE). The shares were last traded at Rs. 613.20, compared to their previous closing price of Rs. 617.75. Throughout the trading day, a total of 30,703 shares were exchanged in over 2,311 transactions.

About Paras Aerospace:

Paras Defence and Space Technologies Limited is a manufacturer of defense electronics and products for space applications. The company specializes in defense automation and control systems, rugged displays, computing solutions, sensors, missile motors, rockets, telescopes, guns, ammunition, and special-purpose machinery. Paras Defence and Space Technologies primarily serves customers in India.

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