Paras Defence & Space Technologies Limited has announced the grant of 1,56,400 stock options to eligible employees under Phase-2 of its Employee Stock Option Plan 2024. The company's Nomination and Remuneration Committee approved this grant during their meeting held on March 13, 2026, as part of the company's employee incentive program.

Stock Option Grant Details

The latest grant represents the second phase of the company's ESOP 2024 scheme, following the earlier Phase-1 grant of 78,450 options on January 22, 2025. The current allocation forms part of the total pool of 15,90,000 stock options available under the comprehensive employee stock option plan.

Vesting and Exercise Terms

The granted stock options come with specific terms designed to align employee interests with long-term company performance. Each stock option provides the right to apply for and be allotted one equity share of face value Rs. 5 each of the company.

Key Terms and Conditions

• Vesting Period: Minimum 3 years from the date of grant, structured in tranches
• Exercise Window: Maximum 5 years from the date of vesting for each respective option
• Compliance: The scheme adheres to SEBI (SBE) Regulations, 2021

Impact of Share Subdivision

The company provided important context regarding a previous corporate action that affected the ESOP structure. During FY 2025-26, Paras Defence undertook a share split on July 04, 2025, reducing the face value from Rs. 10 to Rs. 5 per equity share. This subdivision resulted in adjustments to the ESOP parameters.

Regulatory Compliance

The stock option grant has been disclosed in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also adhered to the requirements specified in SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Circular SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The grant was signed and approved by Munjal Sharad Shah, Managing Director (DIN: 01080863), demonstrating proper corporate governance in the implementation of the employee stock option scheme.

Paras Defence & Space Technologies has announced a major contract win worth ₹80.28 crore from DRDO, Ministry of Defence for the development of high-precision optical systems designed for air defence applications. This significant order underscores the company's growing presence in India's defence manufacturing sector and its technological capabilities in precision engineering.

Contract Details and Specifications

The contract focuses on the development of advanced optical systems that will be deployed in air defence operations. These high-precision systems are critical components in modern air defence infrastructure, requiring sophisticated engineering and manufacturing expertise. The order was formally communicated to stock exchanges under Regulation 30 compliance.

Strategic Significance

This contract award represents a substantial business opportunity for Paras Defence, reinforcing its position as a key player in India's defence technology ecosystem. The development of high-precision optical systems for air defence applications demonstrates the company's technical competence in advanced defence manufacturing.

The optical systems being developed will play a crucial role in enhancing air defence capabilities, contributing to national security infrastructure. This project aligns with India's focus on indigenous defence manufacturing and the government's Make in India initiative in the defence sector.

Business Impact and Execution Framework

The ₹80.28 crore contract is expected to contribute significantly to the company's order book and revenue pipeline over the next 18 months. This substantial order value reflects the high-value nature of advanced defence technology projects and the company's ability to secure major contracts from premier defence research organizations.

The 18-month execution timeline provides a clear framework for project delivery, ensuring systematic development and deployment of the optical systems. The successful execution of this contract could potentially open doors for additional opportunities in the air defence segment and strengthen Paras Defence's relationships with DRDO and other defence customers.