Announcement • 23h
Paras Defence and Space Technologies Limited to Report Q1, 2027 Results on Aug 07, 2026 Paras Defence and Space Technologies Limited announced that they will report Q1, 2027 results on Aug 07, 2026 New Risk • Jun 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • May 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹856, the stock trades at a forward P/E ratio of 62x. Average forward P/E is 43x in the Aerospace & Defense industry in India. Total returns to shareholders of 243% over the past three years. Reported Earnings • May 14
Full year 2026 earnings: EPS and revenues exceed analyst expectations Full year 2026 results: EPS: ₹10.93 (up from ₹8.01 in FY 2025). Revenue: ₹4.93b (up 35% from FY 2025). Net income: ₹881.0m (up 39% from FY 2025). Profit margin: 18% (in line with FY 2025). Revenue exceeded analyst estimates by 7.0%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%. Revenue is forecast to grow 15% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 09
Paras Defence and Space Technologies Limited to Report Q4, 2026 Results on May 13, 2026 Paras Defence and Space Technologies Limited announced that they will report Q4, 2026 results on May 13, 2026 Announcement • Mar 31
An undisclosed buyer completed the acquisition of 58.02% stake in Ayatti Innovative Private Limited from Paras Defence and Space Technologies Limited (NSEI:PARAS) for INR 69.9 million. An undisclosed buyer agreed to acquire 58.02% stake in Ayatti Innovative Private Limited from Paras Defence and Space Technologies Limited (NSEI:PARAS) on March 28, 2025. As part of acquisition, 15,20,000 shares will be sold.
As of May 31, 2024, Ayatti Innovative Private Limited reported net worth of INR 25.54 million.
The expected completion of the transaction is December 31, 2025. As of December 26, 2025, it is informed that the due diligence exercise by the prospective buyers is presently underway and is expected to take additional time. So, the completion of deal is postponed to March 31, 2026.
An undisclosed buyer completed the acquisition of 58.02% stake in Ayatti Innovative Private Limited from Paras Defence and Space Technologies Limited (NSEI:PARAS) for INR 69.9 million on March 30, 2026. Announcement • Feb 20
Paras Defence and Space Technologies Limited (NSEI:PARAS) completed the acquisition of 49% stake in Himanshi Thermal Solutions Private Limited from Defspace Technologies Private Limited. Paras Defence and Space Technologies Limited (NSEI:PARAS) agreed to acquire 49% stake in Himanshi Thermal Solutions Private Limited from Defspace Technologies Private Limited for INR 0.05 million on February 17, 2026. Pursuant to the acquisition, Himanshi Thermal Solutions Private Limited shall become an Associate Company of Paras Defence and Space Technologies Limited.
For the period ending March 31, 2025, Himanshi Thermal Solutions Private Limited reported total revenue of INR 0.
The transaction has been approved by the board of directors of Paras Defence and Space Technologies Limited. The expected completion of the transaction is March 31, 2026.
Paras Defence and Space Technologies Limited (NSEI:PARAS) completed the acquisition of 49% stake in Himanshi Thermal Solutions Private Limited from Defspace Technologies Private Limited on February 19, 2026. Reported Earnings • Jan 24
Third quarter 2026 earnings released: EPS: ₹2.26 (vs ₹1.87 in 3Q 2025) Third quarter 2026 results: EPS: ₹2.26 (up from ₹1.87 in 3Q 2025). Revenue: ₹1.06b (up 24% from 3Q 2025). Net income: ₹182.1m (up 21% from 3Q 2025). Profit margin: 17% (in line with 3Q 2025). Revenue is forecast to grow 41% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year whereas the company’s share price has increased by 32% per year. Announcement • Jan 20
Paras Defence and Space Technologies Limited to Report Q3, 2026 Results on Jan 23, 2026 Paras Defence and Space Technologies Limited announced that they will report Q3, 2026 results on Jan 23, 2026 Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: ₹2.56 (vs ₹1.78 in 2Q 2025) Second quarter 2026 results: EPS: ₹2.56 (up from ₹1.78 in 2Q 2025). Revenue: ₹1.08b (up 24% from 2Q 2025). Net income: ₹206.4m (up 49% from 2Q 2025). Profit margin: 19% (up from 16% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 38% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 13
Paras Defence and Space Technologies Limited Approves Dividend Paras Defence and Space Technologies Limited announced that the Shareholders of the Company has approved dividend of INR 0.50/- per equity share at the Annual General Meeting held on August 21, 2025. Announcement • Nov 08
Paras Defence and Space Technologies Limited to Report Q2, 2026 Results on Nov 13, 2025 Paras Defence and Space Technologies Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Valuation Update With 7 Day Price Move • Aug 01
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹632, the stock trades at a trailing P/E ratio of 40.1x. Average forward P/E is 45x in the Aerospace & Defense industry in India. Total returns to shareholders of 94% over the past three years. Reported Earnings • Jul 26
First quarter 2026 earnings released: EPS: ₹3.69 (vs ₹1.91 in 1Q 2025) First quarter 2026 results: EPS: ₹3.69 (up from ₹1.91 in 1Q 2025). Revenue: ₹931.9m (up 12% from 1Q 2025). Net income: ₹148.7m (flat on 1Q 2025). Profit margin: 16% (down from 18% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Aerospace & Defense industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 25
Paras Defence and Space Technologies Limited, Annual General Meeting, Aug 21, 2025 Paras Defence and Space Technologies Limited, Annual General Meeting, Aug 21, 2025, at 12:30 Indian Standard Time. Announcement • Jul 21
Paras Defence and Space Technologies Limited to Report Q1, 2026 Results on Jul 25, 2025 Paras Defence and Space Technologies Limited announced that they will report Q1, 2026 results on Jul 25, 2025 Reported Earnings • May 01
Full year 2025 earnings released: EPS: ₹16.02 (vs ₹8.22 in FY 2024) Full year 2025 results: EPS: ₹16.02 (up from ₹8.22 in FY 2024). Revenue: ₹3.73b (up 47% from FY 2024). Net income: ₹634.7m (up 98% from FY 2024). Profit margin: 17% (up from 13% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Apr 30
Paras Defence and Space Technologies Limited to Report Q4, 2025 Results on Apr 30, 2025 Paras Defence and Space Technologies Limited announced that they will report Q4, 2025 results on Apr 30, 2025 New Risk • Apr 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Announcement • Mar 28
Euro Asia Exports Limited (BSE:530929) completed the acquisition of Paras Green Uav Private Limited from Paras Defence and Space Technologies Limited (NSEI:PARAS) for INR 1 million. Euro Asia Exports Limited (BSE:530929) signed a letter of intent to acquire Paras Green Uav Private Limited from Paras Defence and Space Technologies Limited (NSEI:PARAS) for INR 1 million on February 8, 2025. A cash consideration will be paid by Euro Asia Exports Limited. Upon completion of the acquisition, Paras Green Uav Private Limited will cease to be a wholly owned subsidiary of Paras Defence and Space Technologies Limited (NSEI:PARAS).
As of March 31, 2024, Paras Green Uav Private Limited reported net liabilities of INR 0.18 million. For the period ending March 31, 2024, Paras Green Uav Private Limited reported total revenue of 0.
The expected completion of the transaction is March 31, 2025.
Euro Asia Exports Limited (BSE:530929) completed the acquisition of Paras Green Uav Private Limited from Paras Defence and Space Technologies Limited (NSEI:PARAS) on March 27, 2025. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹1,025, the stock trades at a trailing P/E ratio of 76.9x. Average trailing P/E is 53x in the Aerospace & Defense industry in India. Total returns to shareholders of 61% over the past three years. Announcement • Feb 10
Euro Asia Exports Limited (BSE:530929) signed a letter of intent to acquire Paras Green Uav Private Limited from Paras Defence and Space Technologies Limited (NSEI:PARAS) for INR 1 million. Euro Asia Exports Limited (BSE:530929) signed a letter of intent to acquire Paras Green Uav Private Limited from Paras Defence and Space Technologies Limited (NSEI:PARAS) for INR 1 million on February 8, 2025. A cash consideration will be paid by Euro Asia Exports Limited. Upon completion of the acquisition, Paras Green Uav Private Limited will cease to be a wholly owned subsidiary of Paras Defence and Space Technologies Limited (NSEI:PARAS).
As of March 31, 2024, Paras Green Uav Private Limited reported total common equity of INR 0.18 million.
The expected completion of the transaction is March 31, 2025. Reported Earnings • Feb 09
Third quarter 2025 earnings released: EPS: ₹3.74 (vs ₹1.71 in 3Q 2024) Third quarter 2025 results: EPS: ₹3.74 (up from ₹1.71 in 3Q 2024). Revenue: ₹857.7m (up 34% from 3Q 2024). Net income: ₹150.4m (up 126% from 3Q 2024). Profit margin: 18% (up from 10% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 02
Paras Defence and Space Technologies Limited to Report Q3, 2025 Results on Feb 08, 2025 Paras Defence and Space Technologies Limited announced that they will report Q3, 2025 results at 12:08 PM, Indian Standard Time on Feb 08, 2025 Reported Earnings • Oct 29
Second quarter 2025 earnings released: EPS: ₹3.55 (vs ₹2.42 in 2Q 2024) Second quarter 2025 results: EPS: ₹3.55 (up from ₹2.42 in 2Q 2024). Revenue: ₹887.6m (up 45% from 2Q 2024). Net income: ₹138.6m (up 47% from 2Q 2024). Profit margin: 16% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Announcement • Oct 22
Paras Defence and Space Technologies Limited to Report Q2, 2025 Results on Oct 28, 2024 Paras Defence and Space Technologies Limited announced that they will report Q2, 2025 results on Oct 28, 2024 Announcement • Oct 17
Paras Defence and Space Technologies Limited Receives License Under the Arms Act, 1959 Paras Defence and Space Technologies Limited has been granted a License under the Arms Act, 1959. This license authorizes the Company to engage in the design, development, manufacturing, assembly and upgrading of cannons for naval gun systems, air defence gun system, airborne cannon systems (helicopter, fighter jet), armoured fighting vehicles based on cannon systems, mounted cannon systems of caliber - 20X102 MM, 20X110 MM, 20X128
MM, 20X138 MM, 20X139 MM, 23X152 MM, 30X173 MM, 30X165 MM, 30X113 MM, 35X228 MM and 40X365 MM with a proposed an annual capacity of 100 nos. Name of the regulatory or licensing authority: Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry, Government of India. The above referred license will allow the Company to manufacture the items specified in the license. Period for which such approval/license is/was valid: Lifetime. New Risk • Oct 10
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.3% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Announcement • Aug 27
Paras Defence and Space Technologies Limited, Annual General Meeting, Sep 20, 2024 Paras Defence and Space Technologies Limited, Annual General Meeting, Sep 20, 2024, at 12:30 Indian Standard Time. Reported Earnings • Aug 06
First quarter 2025 earnings released: EPS: ₹3.81 (vs ₹1.54 in 1Q 2024) First quarter 2025 results: EPS: ₹3.81 (up from ₹1.54 in 1Q 2024). Revenue: ₹835.7m (up 73% from 1Q 2024). Net income: ₹148.5m (up 147% from 1Q 2024). Profit margin: 18% (up from 12% in 1Q 2024). The increase in margin was driven by higher revenue. Announcement • Jul 29
Paras Defence and Space Technologies Limited to Report Q1, 2025 Results on Aug 05, 2024 Paras Defence and Space Technologies Limited announced that they will report Q1, 2025 results on Aug 05, 2024 New Risk • Jun 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (23% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.5% average weekly change). Announcement • May 19
Paras Defence and Space Technologies Limited to Report Q4, 2024 Results on May 25, 2024 Paras Defence and Space Technologies Limited announced that they will report Q4, 2024 results at 4:00 PM, Indian Standard Time on May 25, 2024 Reported Earnings • Feb 12
Third quarter 2024 earnings released: EPS: ₹1.71 (vs ₹2.50 in 3Q 2023) Third quarter 2024 results: EPS: ₹1.71 (down from ₹2.50 in 3Q 2023). Revenue: ₹641.8m (up 5.4% from 3Q 2023). Net income: ₹66.6m (down 32% from 3Q 2023). Profit margin: 10% (down from 16% in 3Q 2023). The decrease in margin was driven by higher expenses. Announcement • Feb 09
Paras Defence and Space Technologies Limited Announces Jajvalya Raghavan as Company Secretary and Compliance Officer Paras Defence and Space Technologies Limited approved the appointment of Ms. Jajvalya Raghavan as Company Secretary and Compliance Officer of the Company designated as Key Managerial Personnel effective February 09, 2024. Ms. Jajvalya Raghavan has been appointed as Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company in place of Mr. Hemalkumar Hiranbhai Sagalia, who resigned from the said post w.e.f. December 13, 2023 Ms. Jajvalya Raghavan is Masters in Commerce, a Fellow Member of Institute of Company Secretaries of India (ICSI) having Membership No.: F11942 and a Law Graduate, with over 14 years of experience in the profession. She served as the Company Secretary, Head - Legal & Vigilance Officer at StockHolding Document Management Services Limited (A Wholly Owned Subsidiary of Stock Holding Corporation of India Limited, India's premier Custodian and Depository Participant) for over 10 years. Prior to her stint at StockHolding, she was associated with Ashapura Garments Limited as a Company Secretary and as an Assistant Company Secretary with CMS Computers Limited. Announcement • Feb 02
Paras Defence and Space Technologies Limited to Report Q3, 2024 Results on Feb 09, 2024 Paras Defence and Space Technologies Limited announced that they will report Q3, 2024 results on Feb 09, 2024 Announcement • Dec 13
Paras Defence and Space Technologies Limited Announces Resignation of Hemalkumar Hiranbhai Sagalia as Company Secretary / Compliance Officer Paras Defence and Space Technologies Limited announced that Mr. Hemalkumar Hiranbhai Sagalia has tendered his resignation from the post of Company Secretary and Compliance Officer of the Company effecive December 13, 2023 (from the closure of business hours). Due to personal commitments, Mr. Hemalkumar Hiranbhai Sagalia tendered his resignation from the post of Company Secretary and Compliance Officer of the Company and his cessation as the Key Managerial Personnel of the Company is consequent to his resignation. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: ₹2.42 (vs ₹2.17 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.42 (up from ₹2.17 in 2Q 2023). Revenue: ₹613.1m (up 10% from 2Q 2023). Net income: ₹94.2m (up 11% from 2Q 2023). Profit margin: 15% (in line with 2Q 2023). Announcement • Oct 29
Paras Defence and Space Technologies Limited to Report Q2, 2024 Results on Nov 06, 2023 Paras Defence and Space Technologies Limited announced that they will report Q2, 2024 results on Nov 06, 2023 Announcement • Sep 22
Paras Defence and Space Technologies Limited Announces Discontinuation of Sharad Virji Shah as the Chairman of the Stakeholders Relationship Committee Paras Defence and Space Technologies Limited announced that due to discontinuation of Mr. Sharad Virji Shah from his position as the chairman of the Stakeholders Relationship Committee, the board of directors of the company vide circular resolution passed on September 21, 2023 have approved and reconstituted the composition of stakeholders relationship committees as follows, effective from September 21, 2023: Mr. Manmohan Handa, Chairman; Mr. Munjal Sharad Shah, Member; Mr. Suresh Katyal, Member. Announcement • Sep 05
Paras Defence and Space Technologies Limited, Annual General Meeting, Sep 29, 2023 Paras Defence and Space Technologies Limited, Annual General Meeting, Sep 29, 2023, at 11:00 Indian Standard Time. Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: ₹1.54 (vs ₹1.81 in 1Q 2023) First quarter 2024 results: EPS: ₹1.54 (down from ₹1.81 in 1Q 2023). Revenue: ₹483.2m (up 19% from 1Q 2023). Net income: ₹60.1m (down 15% from 1Q 2023). Profit margin: 12% (down from 17% in 1Q 2023). The decrease in margin was driven by higher expenses. Announcement • Jul 30
Paras Defence and Space Technologies Limited to Report Q1, 2024 Results on Aug 07, 2023 Paras Defence and Space Technologies Limited announced that they will report Q1, 2024 results on Aug 07, 2023 Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹580, the stock trades at a trailing P/E ratio of 63.5x. Average trailing P/E is 31x in the Aerospace & Defense industry in India. Total loss to shareholders of 6.5% over the past year. Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹2.50 (vs ₹1.98 in 3Q 2022) Third quarter 2023 results: EPS: ₹2.50 (up from ₹1.98 in 3Q 2022). Revenue: ₹608.8m (up 31% from 3Q 2022). Net income: ₹97.6m (up 27% from 3Q 2022). Profit margin: 16% (in line with 3Q 2022). Announcement • Feb 10
Paras Defence and Space Technologies Limited (NSEI:PARAS) acquired 58.02% stake in Ayatti Innovative Private Limited for INR 69.9 million. Paras Defence and Space Technologies Limited (NSEI:PARAS) acquired 58.02% stake in Ayatti Innovative Private Limited for INR 69.9 million on December 31, 2022. Paras Defence and Space Technologies acquired 1,520,000 equity shares in Ayatti Innovative. Following the transaction, Ayatti Innovative operates as a subsidiary of Paras Defence and Space Technologies.
Paras Defence and Space Technologies Limited (NSEI:PARAS) completed the acquisition of 58.02% stake in Ayatti Innovative Private Limited for INR 69.9 million on December 31, 2022. Announcement • Feb 03
Paras Defence and Space Technologies Limited to Report Q3, 2023 Results on Feb 09, 2023 Paras Defence and Space Technologies Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Board Change • Dec 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Non-Executive Independent Director Suresh Katyal was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹2.17 (vs ₹2.60 in 2Q 2022) Second quarter 2023 results: EPS: ₹2.17. Revenue: ₹567.3m (up 12% from 2Q 2022). Net income: ₹84.8m (up 5.2% from 2Q 2022). Profit margin: 15% (down from 16% in 2Q 2022). The decrease in margin was driven by higher expenses. Reported Earnings • Aug 04
First quarter 2023 earnings released: EPS: ₹1.81 (vs ₹1.48 in 1Q 2022) First quarter 2023 results: EPS: ₹1.81 (up from ₹1.48 in 1Q 2022). Revenue: ₹417.2m (up 11% from 1Q 2022). Net income: ₹70.7m (up 56% from 1Q 2022). Profit margin: 17% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Reported Earnings • May 23
Full year 2022 earnings released: EPS: ₹7.78 (vs ₹5.53 in FY 2021) Full year 2022 results: EPS: ₹7.78 (up from ₹5.53 in FY 2021). Revenue: ₹1.83b (up 27% from FY 2021). Net income: ₹270.4m (up 72% from FY 2021). Profit margin: 15% (up from 11% in FY 2021). The increase in margin was driven by higher revenue. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Non-Executive Independent Director Suresh Katyal was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹1.98. Revenue: ₹475.2m (flat on 3Q 2021). Net income: ₹76.7m (up ₹76.7m from 3Q 2021). Profit margin: 16% (up from null in 3Q 2021). Revenue was in line with analyst estimates. Reported Earnings • Nov 15
Second quarter 2022 earnings released: EPS ₹2.60 (vs ₹2.79 in 2Q 2021) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2022 results: Revenue: ₹506.4m (down 4.8% from 2Q 2021). Net income: ₹80.6m (up 1.6% from 2Q 2021). Profit margin: 16% (up from 15% in 2Q 2021). The increase in margin was driven by lower expenses. Board Change • Oct 01
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Hina Gokhale was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 
