Paras Defence And Space Technologies Share price

The Company was incorporated as “Paras Flow Form Engineering Limited” under the Companies Act 1956 at Mumbai pursuant to a certificate of incorporation dated June 16 2009 issued by the RoC. the Company received the certificate for commencement of business on July 24 2009. Subsequently the name of the Company was changed to “Paras Flowform Engineering Limited” pursuant to a resolution passed by the Shareholders in an extraordinary general meeting held on September 22 2009 to rectify the name of the Company and a fresh certificate of incorporation dated September 25 2009 was issued by the RoC. Further the name of the Company was changed to “Paras Defence and Space Technologies Limited” pursuant to a resolution passed by the Shareholders in an extraordinary general meeting held on December 2 2015 to reflect the business of the Company as stated in the MoA and a fresh certificate of incorporation dated January 29 2016 was issued by the RoC.The predecessor M/s. Paras Engineering Co. (“PEC”) a proprietary concern was established by the Promoter Sharad Virji Shah in 1979. PEC was involved in the business of manufacturing precision machine components pressed and fabricated components precision spares assemblies spring and fastners. The taking over of the PEC in all its entirety including all its assets and liabilities was one of the main objects of the Company at the time of its incorporation. the Company completed the acquisition of the plants and machinery of PEC on April 1 2012.Major events and milestones :2009- Incorporation of the Company2015- Bagged an order for developing electronic control system2016- Started developing and manufacturing optics for space2017- Secured order for developing and manufacturing EMP racks2018- Expanded the presence of the Company in Bangalore- Amalgamation of Mechvac India Limited and Concept Shapers and Electronics Private Limited with the Company2019- Established the subsidiary Paras Aerospace Private Limited to venture into drone systems and services2020- MDAVF* made an investment in the CompanyAwards and accreditations :2017- The Company received a certificate of appreciation by Bharat Electronic Limited Naval Systems (S&CS) SBU for meeting the quality standards and timely supplies2020 - The Company received a certificate of recognition for outstanding contribution in quality and excellence in realm of customer satisfaction in India 5000 Best MSME Awards- The manufacturing facilities at Ambernath and Nerul have been accredited with quality management system certificate for compliance with ISO 9001:2015 requirements- The Company has been accredited with ISO 14001:2015 and ISO 45001:2018 for the environment management system and occupational health and safety management system respectively