Paramount Communications Ltd. (BSE: 530555, NSE: PARACABLES), a prominent player in the India’s wire and cable industry, has announced that ICRA, a Credit Rating Agency has, assigned its long-term ratings on the bank facilities of the Company at [ICRA]BBB-(Stable)’.
For Q3FY24 and 9MFY24, the Revenue from Operations grew by 30.3% from Rs. 2,180.9 Mn in Q3 FY23 to Rs. 2,842.5 Mn in Q3FY24 and by 25.7%fromRs. 5,943.9 Mn in 9MFY23 to Rs. 7,472.3Mn in 9M FY24. This growth was led by robust demand of our products and efficient execution of Its order book reflecting the strength and resilience of our business.
PAT increased by 53.8% from Rs. 143.2 Mn in Q3 FY23 to Rs. 220.2 Mn in Q3 FY24 and by 65.0% from Rs. 339.7 Mn in 9M FY23 to Rs. 560.6 Mn in 9M FY24. PAT margins increased by 130 bps and by 180 bps to 7.7% in Q3 FY23 and to 7.4% in 9M FY24 respectively
Earlier, the Company on 29th January 2024, approved the allotment of 2,03,74,980 shares at a price of 66.50/- per share, raising a total of Rs. 1,354.94 Mn by way of preferential allotment of equity shares to non-promoter, public category.
Incorporated in the year 1955, Paramount Communications Limited is a prominent player in the India’s wire and cable industry, renowned for manufacturing high-quality products catering to diverse infrastructure segments. The company operates through 2 state-of-the-art manufacturing facilities situated in Khushkhera, Rajasthan and Dharuhera, Haryana. These facilities hold certifications from various Indian and global agencies, testifying their strict compliance with high quality standards.
It boasts of an expansive product portfolio that comprises over 25 distinct products and an impressive array of over 2,500 SKUs. This diverse selection serves a wide spectrum of markets, including government, B2B, and B2C segments encompassing industries like Power, Railways, Telecom, Construction, Defence & Space Research, and residential spaces. The company has an extensive pre- qualifications credentials and competencies has been instrumental in establishing its nationwide and international presence, notably in USA. Paramount holds the prestigious status of three star export house by the Government of India.
Over the years, The Company has successfully served 500+ institutional clients, broadened its outreach via a network of 400+ channel partners, encompassing over 250 retail points, and have formed active partnerships with 5,000+ electricians across India. Further, The Company has created direct connections with all these stakeholders through its newly launched “Paramount Parivar” app. Its R&D team comprises of highly skilled and qualified individuals making Paramount an industry trailblazer in India to lay and repair undersea cables, introduce non toxic lead free house wires, offer an impressive 20 years warranty, and supply Axle Counter cables to Railways. Paramount Communications holds most of the
prestigious Indian and International accreditations and approvals including BIS, NTPC, PGCIL, EIL, RDSO, TEC, UL-USA, LPCB-UK, and also ISO 9001, ISO 14001, and ISO 45001.