Defence engineering company Paras Defence and Space Technologies Ltd has signed an exclusive intellectual property licensing agreement with Tandem Defense LLC, a wholly owned subsidiary of Autonomous Power Corporation (Powerus). According to the latest filing submitted to exchanges, the agreement grants Paras Defence exclusive, non-transferable and non-sublicensable license to use the licensed intellectual property within India for manufacturing and commercialising the products in the country. The agreement is valid for 12 months and can be renewed by mutual consent. The partnership allows Paras Defence to manufacture and commercialize the Guardian-1 Interceptor, a high-speed, battery-powered counter-drone system developed by Powerus to combat low-cost aerial threats.
The Guardian-1 Interceptor is a high-speed, battery-powered counter-drone system developed by Powerus to combat low-cost aerial threats. As reported by CNBC TV18, the system is designed to detect, track, and physically intercept hostile drones, particularly low-cost one-way attack drones and swarm-type aerial threats used in modern battlefield environments. The agreement also appoints other parties for the management of IP licenses, defence, product manufacturing and sales operations in India. By securing these rights, Paras Defence positions itself to cater to the growing demand for indigenous defence solutions against aerial security risks.
According to CNBC TV18, Paras Defence has delivered strong gains in 2026, rising about 101% year-to-date from its January 1 price of ₹684.45 to ₹1,289.25. The stock is currently trading at a price-to-earnings (P/E) ratio of around 117.95. Shares of Paras Defence and Space Technologies Ltd ended at ₹1,289.25, up by ₹105.45, or 8.91%, on the BSE. The latest stock performance shows continued momentum with +8.97% gains over the past day and +57.33% over the past five days.
As reported by CNBC TV18, Paras Defence clarified that it does not hold any shareholding in Tandem Defense LLC. The company stated that the agreement is not a related-party transaction, and the other party is not related to its promoter, promoter group or group companies. The agreement does not involve the issuance of shares, any special rights such as board nomination or capital structure restrictions, or any disclosures relating to conflicts of interest. The arrangement is not classified as a related party transaction, with Paras Defence maintaining its independence from the other party involved.
