Paramount Communications Ltd (PARACABLES)
🎯 Key Takeaways
- Paramount Communications is in a growth phase driven by infrastructure demand, with a focus on scaling its cable and power transmission business. Management is targeting significant revenue expansion through its Narmadapuram greenfield project, aiming for ₹1,200 crores by FY29.
- Revenue declined 7.7% QoQ to ₹529 in Q1FY27.
- ⚠️ Revenue is inherently volatile due to project-based infrastructure demand and quarterly order execution cycles.
- Market Cap
- ₹1,845
- P/E Ratio
- 28.3
- P/B Ratio
- 2.37
- ROE
- 7.8%
- ROCE
- 11.8%
- Debt/Equity
- 0.16
- Promoter
- 49.2%
📖 The Story
Paramount Communications is in a growth phase driven by infrastructure demand, with a focus on scaling its cable and power transmission business. Management is targeting significant revenue expansion through its Narmadapuram greenfield project, aiming for ₹1,200 crores by FY29. The company has demonstrated margin improvement and operational efficiency, supported by a healthy orderbook and export recovery.
📰 What's Happening
In Q1 FY27, Paramount reported 17.4% YoY revenue growth to ₹529.4 crores and a 320 bps YoY expansion in operating margin to 6.6%, despite a sequential revenue decline. The company highlighted a 27% YoY growth in its orderbook to ₹615 crores, with power cable orders at ₹455 crores. Management raised ₹122 crores for its Narmadapuram greenfield project, targeting ₹500 crores revenue in FY28 and ₹1,200 crores by FY29. Export revenue rose 77% QoQ due to US tariff resolution, contributing to 29% of total revenue. ICRA reaffirmed BBB(Stable) ratings for a ₹150 crores facility, removing it from negative watch implications.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 451 | 428 | 461 | 573 | 529 |
| Operating Profit | 12 | 2 | 11 | 26 | 30 |
| OPM % | 2.5% | 0.5% | 2.4% | 4.5% | 5.7% |
| Net Profit | 19 | 13 | 7 | 21 | 20 |
| EPS | ₹0.61 | ₹0.43 | ₹0.25 | ₹0.67 | ₹0.64 |
Revenue peaked at ₹573 crores in Q4 FY26 but declined to ₹529 crores in Q1 FY27, yet operating margin improved significantly to 6.6% from 4.5% in the prior quarter. Net profit remained stable at ₹19.7 crores, indicating improved cost control and margin management. The company has shown consistent working capital efficiency and capacity utilization, with management targeting 8% EBITDA margins by FY27 end. The sequential revenue dip appears to be a tactical pause amid project ramp-up rather than a structural slowdown.
🔮 Management Outlook & What's Next
Management expressed confidence in sustaining momentum through FY27, citing strong demand in power transmission, data centres, and renewables. They highlighted the Narmadapuram project as a key growth driver, targeting ₹500 crores revenue in FY28 and ₹1,200 crores by FY29. Management also aims to achieve FY25-level margins by quarter-end FY27, supported by full capacity utilization and fungible 11KV-66KV infrastructure. The orderbook growth and export recovery are seen as tailwinds for future performance.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 61 | 61 | 61 | 61 |
| Reserves | 655 | 614 | 717 | 688 |
| Borrowings | 25 | 22 | 123 | 102 |
| Total Liabilities | 908 | 830 | 1,129 | 1,008 |
| Fixed Assets | 221 | 196 | 260 | 236 |
| Investments | 0 | 0 | 0 | 0 |
| Total Assets | 908 | 830 | 1,129 | 1,008 |
The balance sheet shows stable equity at ₹61 crores with reserves growing from ₹655 crores to ₹717 crores over the past year, indicating retained earnings. Borrowings remain low and stable at ₹123 crores (March 2026), down from ₹25 crores in March 2025, suggesting prudent debt management. Total assets have increased steadily, reflecting capital investment, likely tied to the Narmadapuram project. The company is not over-leveraged and maintains a conservative capital structure, with room for further investment without significant financial strain.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 |
|---|---|
| Operating | +104 |
| Investing | -1 |
| Financing | -84 |
| Net Cash Flow | +19 |
👥 Shareholding Pattern
| Category | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|
| Promoters | 49.1% | 49.2% | 49.2% |
| FII | 0.3% | 0.5% | 0.5% |
| DII | 0.1% | 0.1% | 0.1% |
| Public | 40.8% | 40.8% | 38.6% |
| # Shareholders | 1,43,928 | 1,38,511 | 1,32,072 |
Promoter holding remains stable at 49.18% over the last three quarters, indicating confidence in long-term prospects. FII holdings have slightly increased from 0.29% to 0.51%, while DII holdings remain minimal at 0.11%. Public shareholding has declined slightly from 40.84% to 38.56%, but the number of shareholders has grown from 1,38,511 to 1,32,072, suggesting broader retail participation. No significant selling by promoters or institutions is evident, and the shareholder base is stabilizing.
⚖️ Peer Comparison — Cables
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| POLYCAB | 1.23 L Cr | 42.9 | 34.1% | — | 0.01 |
| KEI | 43,196 | 43.3 | 23.6% | — | 0.03 |
| STLTECH | 42,368 | 165.9 | 14.6% | — | 0.85 |
| RRKABEL | 27,832 | 45.8 | 32.1% | — | 0.09 |
| FINCABLES | 21,545 | 26.9 | 19.0% | — | 0.00 |
| DIACABS | 17,854 | 90.8 | -58.8% | — | -0.52 |
| UNIVCABLES | 4,950 | 24.8 | 12.5% | — | 0.62 |
| LASERPOWER | 3,684 | — | — | — | 1.14 |
| QUADFUTURE | 2,134 | — | -12.3% | — | 0.29 |
| DYCL | 2,109 | 23.1 | 26.9% | — | 0.09 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Revenue is inherently volatile due to project-based infrastructure demand and quarterly order execution cycles. 2. Margin expansion depends on sustained capacity utilization and cost discipline, which could be pressured by raw material costs or competitive bidding. 3. Export growth is tied to global trade conditions, particularly US tariff policies affecting cable demand. 4. The company's growth is concentrated in power and telecom sectors, making it vulnerable to sector-specific slowdowns or regulatory changes in infrastructure spending.
📋 Recent Filings
- Announcement2026-09-26Paramount Communications Ltd announced that its trading window will close on 01 October 2026 for designated persons and their immediate relatives unti…
- 🟡 Board Meeting2026-09-26Paramount Communications held its 32nd Annual General Meeting on September 26, 2026 via video conference, with 1,31,258 shareholders on record. Promot…
- 🔴 Announcement2026-09-24Paramount Communications announced a schedule of virtual analyst and institutional investor meetings under SEBI Regulation 30, listing sessions with A…
- 🔴 Announcement2026-09-05Paramount Communications announced a virtual analyst and institutional investor meeting scheduled for September 9, 2026 at 3:30 PM, conducted as a one…
- 🔴 annual report2026-09-05Paramount Communications announced the 32nd Annual General Meeting scheduled for September 26, 2026, and provided a web-link to the Integrated Annual …
- 🟡 Board Meeting2026-09-03Paramount Communications Ltd announced its 32nd Annual General Meeting on September 26, 2026, at 12:30 PM IST via video conferencing. Shareholders can…
- 🔴 annual report2026-09-03Paramount Communications Limited reported a 22.8% revenue increase to ₹1,912 crore for FY 2025-26, driven by domestic growth (71% of revenue) and resi…
- 🟡 sustainability report2026-09-03Paramount Communications Limited submitted its Business Responsibility and Sustainability Report for FY 2025-26 to BSE and NSE on September 3, 2026, a…
- 🔴 Financial Results2026-08-17Paramount Communications Limited announced an audio recording of its investor conference call discussing first quarter FY2027 financial results approv…
- Announcement2026-08-15Paramount Communications Limited (PARACABLES) presented its Q1 FY27 investor presentation, highlighting robust year-on-year revenue growth of 17.4% to…
🧠 Analyst's Read
Paramount Communications is executing a clear growth strategy with strong orderbook momentum and improving margins, supported by infrastructure tailwinds. The key watchpoints are execution of the Narmadapuram project, sustainability of export growth, and ability to maintain margin expansion amid competitive market conditions. The company appears well-positioned for long-term growth, but near-term revenue volatility may persist.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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