Paramount Communications Ltd. — Annual Report 2023

May 19, 2023

PCL/SE/05/2023-2024

19.05.2023

The Corporate Relationship Department	The General Manager- Listing7
The Bombay Stock Exchange Ltd.	National Stock Exchange of India Ltd.
Phiroze Jeejeebhoy Towers,	"Exchange Plaza", Bandra-Kurla Complex,
Dalat Street,	Bandra (East),
Mumbai-400 001	Mumbai-400 051
	Symbol/Scrip Code: (BSE)530555/(NSE) PARACABLES

Sub:_Qutcome of Board Meeting/Announcement pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015

Dear Sir,

Pursuant to Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors of the Company at their meeting held on Friday, the 19® Day of May, 2023, has approved inter alia, the following:

a) Audited Standalone and Consolidated Financial Results for the quarter and year ended 31* March, 2023 along with Audit Report for Standalone and Consolidated Financial Results.

Further, pursuant to second proviso to Regulation 33 (3)(d) of SEBI ( Listing Obligations and Disclosure Requirements), Regulations 2015 and clause 4.1 of SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016 we hereby declare that the Statutory Auditors of the Company i.e. M/s P. Bholusaria & Co., Chartered Accountants ( Firm Registration No. 000468N) has issued the Audit Report on Standalone and Consolidated Audited Financial Results for the quarter and financial year ended March 31, 2023 with unmodified opinion.

b) Constitution of Corporate Social Responsibility Committee

details of composition of the Committee are givenThe	below:
----------------------------------------------------------	--------

Composition	Designation
Mr. Sanjay Aggarwal	Chairman_	_
Mr. Sandeep Aggarwal	Member
Mr. Vijay Maheshwari	___ Member

The meeting of the Board of Directors commenced at 10.30 a.m. and concluded at 01.00 p.m.

This is for your information and record please. |

For Paramount Communications-Li Ete igh a

Veo" of Paramount Communications Ltd Company Secretary & Compliance Officer

Paramount House KH - 433, Maulsarf Avenue, Westend Greens, Rangpuri, New Delhi - 110037. India t:+91 11 45618800 pcl@paramountcables.com Wwww.paramountcables.com CIN : L74899DL.1994PLC067295 P. BHOLUSARIA & CO. 26/11, SHAKTI NAGAR

Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

To The Board of Directors Paramount Communications Limited

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date standalone financial results of Paramount Communications Limited (the "Company") for the quarter ended 31% March 2023 and for the year ended 31* March, 2023 ("Statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

• is presented in accordance with the requirements of the Listing Regulations in this regard; and
• gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Company for the quarter and for the year ended 31% March, 2023.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Standalone Financial Results

The Statement has been prepared on the basis of the standalone financial statements. The Board of Directors of the Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income/loss and other financial information of the company in accordance with the applicable accounting standards prescribed under Section 133 of the act read with relevantrules issued thereunder and other accounting principles

generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives ate to obtain reasonable assurance about whether the Statement as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraudor error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higherthan for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) ofthe Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that amaterial uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, tomodify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

eEvaluate the overall presentation, structure and content of the Statement, including the disclosures and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.

Materiality is the magnitude of misstatements in the Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The Statement includes the results for the quarter ended 31% March, 2023 being the balancing figure between the audited figures in respect of the full financial year ended 31%* March 2023 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For P. Bholusaria & Co. Chartered Accountants Firm's Registration No. 000468N

(Pawan Bholusaria) h: Partner M. No. 080691

Date: 19.05.2023 Place: Delhi UDIN: 220R06NBGWMAP 6248

PARAMOUNT COMMUNICATIONS LIMITED

	PARAMOUNT COMMUNICATIONS LIMITED
	KH-433, Maulsari Avenue, Westend Greens, Rangpuri, New Dethi-110037Ph. +94-11-45618800-900, Fax No +91-11-258937 19/20
	E-mail: pel@paramountcables.com, Website: waw.paramountscables.comSTATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2023	CIN : L74899DL.1994PLC061295
					(Rs. in Lakhs except per share data}
s	ce		Quarter Ended			Year Ended
No.		31.03.2023Audited	31.12.2022Unaudited	31032022Audited	31.03.2023Audited	31.03.2022Audited
	IncomeRevenue from operations	20,207.84	21,808.93	18,317.60	79,646.65	58,093.61
	il Other incomeIll Total Income (I+I1)	659.5420,867.36	380.8522,199.78	189.9018,477.50	1,625.3281,271.97	374.3358,467.94
	IV Expenses(a) Cost of materials consumed	47,717.04	18,146.29	13,687.36	58,611.78	45,927.49
	(b) Changes in inventories of finished goods,work-in-progress and scrap	(2,486.03)	939.60	865.71	(265.19)	(570.27)]
	(c) Employee benefits expense(d) Finance cosis	436.48176.54	565.22226.97	561.31103.03	2,149.26717.68	2,294.10640.88
	(e) Depreciation and amortization expense{f}) Other expenses	228.05	234.89	243.31	926.80	954.46
	Total Expenses (IV)	3,415.1719,487.25	3,655.0420,768.01	2,530.1417,990.83	44,355.8976,495.22	8,400.76'87,647.42
	V Profit before exceptional items and tax (Ill -IV)	1,380.10	443177	486.67	4,776.75	820.52
	VI Exceptional items	-	-	-		o
	VII Profit after exceptional items but before tax (V+VI)	1,380.10	1,431.77	486.67	4,776.75	820.52
	VAI Income Tax expense{l) Current Tax	-	=	cs	-	-
	(ll) Deferred Tax	-	x	=
	IX Profit for the period from continuing operations (VII -VIII)	1,380.10	1.431.77	486.87	4,776.75	820.52
	Discontinued operations :-X Profit from discontinued operations	o	3	=		-
	XI Tax expense of discontinued operationsXII ] Profit from discontinued operations (after tax}	-	i	-	-	-
	Xlit Profit for the period (ix + XII)	a	7	<=	q	cs
	XIV Other comprehensive income/(Loss) :	1,380.10	4,431.77	486.67	4,776.75	820.52
	A. (i) tems that will not be rectassified to profit or loss	{8.44)	14.64	34.52	36.49	58.56
	{Il} Income tax relating to items that will not bereclassified to profit & lossB. (f) Items that will be reclassified to profit or loss	-	7	=	:	-
		3	a	E	-	-
	(ll) Income tax relating to items that will be reclassified to)profit & loss.	=	-		:	-
	Total other comprehensive income /{Loss) ( XIV}XV Total Comprehensive Income ( Comprising Profit and	{8.44) 1,371.66	14.641,446.44	34.5221.19	35.494,812.24	58.56879.08
	other comprehensive income for the period) (XIII + XIV)
XVI}	Paid-up Equity Share Capital (Face Value Rs. 2 per share)	3,883.68	3,883.68	3,883.68	3,383.68	3,883.68
	XVII] Other Equity excluding revaluation Reserve				25,624.50	16,290.57
	XVIL) Earnings per equity share in Rs. (for continuingoperations};
	(4) Basic(2) Diluted	0.670.67	072072	0.260.25	2.40240	0.420.42
	Xx Earnings per equity share in Rs. (for discontinuingoperations):
	(1) Basic(2) Diluted	E	=a	:i	:-	5-
	XX Earnings per equity share in Rs. (for discontinuing:& continuing operations):col
	(1) Basicfj	0.67	0.72		2.40	0.42

Standalone Statement of Assets and Liabilities as at 31.03.2023		(Rs. in Lakhs)
Particulars	As at	As at31.03.2023 31.03.2022(Audited } (Audited }
AssetsNon-Current Assets
(a) Property, Plant and Equipment	9,763.90	9,577.11
({b) Right of use assets(c) Other Intangible assets	2,890.92108.68	3,817.36151.01
(d) Financial Assets
(i) Investments(ii) Loans	0.003.27	0.001.99
(iii) Others non-current financial assets	977.22	1,446.06
(e) Other non-current assetsTotal Non-Current Assets	102.40	46.1613,846.39 15,039.69
Current Assets
(a) Inventories(b) Financial Assets	11,309.64	11,460.92
(i) Investments	1,002.02	-
(ii) Trade receivables(iii) Cash and cash equivalents	16,876.92 1,787.41	17,361.02138.68
(iv) Bank balances other than (iii) above(v) Loans	1,220.1843.16	4,271.93
{vi} Other current financial assets	292.89	21.90345.14
(c) Current Tax Assets (net)(d) Other current assets	184.703,817.70	408.902,050.68
Total Current Assets		36,544.62 33,059.17
Total Assets	50,391.01]	48,098.86
Equity and LiabilitiesEquity
(a) Equity Share Capital	3,883.68	3,883.68
(b) Other EquityTotal Equity	25,624.50 29,508.18	16,290.5720,174.25
Liabilities
Non-Current Liabilities(a) Financial Liabilities
{i) Borrowings	11,231.96]	15,733.55
(ii) Lease Liabilities(b) Provisions	225.8559.83	1,027.62105.12
Total Non-Current LiabilitiesCurrent Liabilities	11,517.64	16,866.29
(a) Financiat Liabilities
Borrowings(i)(ii) Lease Liabilities	4,557.568.12	1,740.53165.98
{iii) Trade Payables- Total outstanding dues of Micro Enterprises and	733.75	27117
Small Enterprises
-Total outstanding dues of creditors other thanMicro Enterprises and Small Enterprises	3,247.74	8,079.26
{iv) Other Financial Liabilities(b) Other current Liabilities	435.81373.79	436.18282.70
(c) Provisions	8.42	82.50
Total Current Liabilities	9,365.19	11,058.32

{PARAMOUNT COMMUNICATIONS LIMITED CIN : L74898DL1994PLC061295

{PARAMOUNT COMMUNICATIONS LIMITEDCIN : L74898DL1994PLC061295STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2023

{PARAMOUNT COMMUNICATIONS LIMITEDCIN : L74898DL1994PLC061295
STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2023				(Rs. in Lakhs)
Particulars	For the year ended 31stMarch 2023		For the year ended 31stMarch 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net Profit before taxationAdjustment for :Depreciation and amortization expenses	925.80	4,776.75	954.46	820.52
Interest Expenses/ Finance CostInterest on lease liability & on fair valuation of Security Deposit	626.8690.82		535.02105.87
Reversal of rent lease liabilityUnrealised Exchange Gain/(Loss)	(185.55)43.31		(266.67)50.25
Net Gain on Fair Valuation of Current investmentProfit on sales of Investment	(2.02)(1.11)
Loss / (Profit) on sale of assets(net)			=]
	7.48		--
Interest IncomeNet Gain on Derivatives	(149.60)(17.09)		(201.25)-
Lease Liability Written BackProvision for Doubtful debts/ Written back	(245.96)71.47		--
Operating Profit before working capital changesAdjustment for :		1,164.415,941.16		1,177.681,998.20
Decrease / (Increase) in Trade Receivables	440.73		(690.67)
Decrease / (Increase) in Loans & AdvancesDecrease / (Increase) in Inventories	(22.53)151.28		1.43(1,440.60)
Decrease / (Increase) in Other financial and non financial Assets(Decrease) / Increase in Trade Payables	(1,289.97)(4,368.94)		(154.32)1,624.43
(Decrease) / Increase in Other Liabilities & Provisions	33.57	(5,055.80)	125.47	(534.26)
Cash generated from operationExcentional items		885.36		1,463.94
Income Tax Refund (net)NET CASH FROM OPERATING ACTIVITIES	224.20	224.201,109.56	0.48	0.481,464.42
CASH FLOWS FROM INVESTING ACTIVITIESPurchase of Fixed Assets including Capital WIP	(894.72)		(286.51)
Sale of Fixed Assets	50.39		=
Interest ReceivedSale of Investments (Mutual Fund)Purchase of Investments (Mutual Fund)	208.85801.11(1,800.00)		179.39--
NET CASH FROM INVESTING ACTIVITIES		(1,634.37)(1,634.37)		(107.12)(107.12)
CASH FLOWS FROM FINANCING ACTIVITIES
Interest Expenses/ Finance CostIncrease/(Decrease) in Borrowings from banks / ARC /NBFC	(653.60)(1,654.55)		(535.02)(1,440.20)
Loan From DirectorsProceeds from Issue of Convertiable Equity share warrant	(30.00)4,521.69		30.00-
NET CASH FROM FINANCING ACTIVITIES		2,183.542,183.54		(1,945.22){1,945.22}
NET INCREASEADECREASE) IN CASH & CASH EQUIVALENTSCASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEARCASH AND CASH EQUIVALENTS AT END OF THE YEAR		4,658.73138.681,797.41		(587.92)726.60138.68

Notes:

1

The aforesaid Financial Results were placed before and reviewed by the Audit Committee at its meeting held on 19th May 2023 and approved by the Board of Directors at its meeting held on the same date.

The financial results for the year ended March 31, 2023 have been audited by the statutory auditors of the Company. The statutory auditors have expressed an unmodified opinion.

These financial results have been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2045 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.

During the quarter, the Company has allotted 623,25,925 equity warrants at a price of Rs.21.57 each to Non-Promoters Entities on preferential basis entitling them for conversion of equivalent number of Equity Shares of Rs.2 each at a premium of Rs.19.57 per equity share in accordance with SEBI (issue of Capital & Disclosure Requirements) Regulations, 2018 . The company has received 25% upfront payment against the said equity warrants. In respect of 2,00,000 equity warrants, the allottee has made full payment of Rs. 21.57 per warrant. Thus total amount received against warrants issued is Rs 3397.94 lakhs (i.e. 3365.60 Lakhs representing 25% upfont payment and Rs.32,34 Lakhs advance payment received on 2,00,000 equity warrants}. The equity warrants shall be converted within the specified time limit as per SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018.

Notes:	The aforesaid Financial Results were placed before and reviewed by the Audit Committee at its meeting held on 19th May 2023 and
	approved by the Board of Directors at its meeting held on the same date.
	The financial results for the year ended March 31, 2023 have been audited by the statutory auditors of the Company. The statutoryauditors have expressed an unmodified opinion.
	These financial results have been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2045 (Ind AS)prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extentapplicable.
	During the quarter, the Company has allotted 623,25,925 equity warrants at a price of Rs.21.57 each to Non-Promoters Entities onentitling them for conversion of equivalent number of Equity Shares of Rs.2 each at a premium of Rs.19.57 perpreferential basisequity share in accordance with SEBI (issue of Capital & Disclosure Requirements) Regulations, 2018 . The company has received25 % upfront payment against the said equity warrants. In respect of 2,00,000 equity warrants, the allottee has made full payment ofRs. 21.57 per warrant. Thus total amount received against warrants issued is Rs 3397.94 lakhs (i.e. 3365.60 Lakhs representing 25%upfont payment and Rs.32,34 Lakhs advance payment received on 2,00,000 equity warrants}. The equity warrants shall be convertedwithin the specified time limit as per SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018.
	The details of utilisation of proceeds is summarised as below:			{Rs. in Lakhs)
	Particulars	Amount tohe utilisedas per offerdocument(25%)	Amount34st March,2023	Amountutilised upto unutilised ason 31stMarch, 2023
	Capital Expenditure	499.30	-	499.30
	Working Capital	2,047.13	2,026.57	20.56
	General Corporate Purpose	819.17	809.58	9.59
	Total	3,365.60	2,836.15	529.45
	and Rs. 29.45 Lakhs is kept in issue monitoring account with scheduled bank. Further the advance payment of Rs. 32.34 Lakhsreceived on 2,00,000 equity warrants is also kept in escrow account separately.
	The Code on Social Security, 2020 ('the Code") has been approved by the Parliament which inter-alia deals with employee benefitsduring employment and post-ernployment. The Code has been published in the Gazette of India on September 29, 2020. Thewill be assessed and recognised post notification of the relevant provisions.
	In view of brought forwarded losses as per Income Tax Act, 1961, no provision for current tax is required ta be made.
	There are no separate reportable segments as per the Indian Accounting Standard (Ind AS-108) on segment reporting.
	subject to limited review by the auditor.
	The figures of the previous year /periods have been regrouped/ rearranged wherever considered necessary to facilitate comparison.
	We			For PARAMOUNT COMMUNICATIONS L7D.
				Wea
	Place : New Dethi			Sanjay Aggarwal

Net proceeds which were unutilised as at 31st March, 2023 were temporarily invested in mutual funds amounting to Rs. 500.00 Lakhs and Rs. 29.45 Lakhs is kept in issue monitoring account with scheduled bank. Further the advance payment of Rs. 32.34 Lakhs received on 2,00,000 equity warrants is also kept in escrow account separately.

The Code on Social Security, 2020 ('the Code") has been approved by the Parliament which inter-alia deals with employee benefits during employment and post-ernployment. The Code has been published in the Gazette of India on September 29, 2020. The effective date of the Code and rules thereunder are yet to be notified. In view of this, the impact of the change, if any, on the Company will be assessed and recognised post notification of the relevant provisions.

In view of brought forwarded losses as per Income Tax Act, 1961, no provision for current tax is required ta be made.

There are no separate reportable segments as per the Indian Accounting Standard (Ind AS-108) on segment reporting.

The figures of the quarter ended March 31, 2023 and March 31, 2022 are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures upto third quarter of the respective financial year which were subject to limited review by the auditor.

The figures of the previous year /periods have been regrouped/ rearranged wherever considered necessary to facilitate comparison.

By and on behalf of the Board

We For PARAMOUNT COMMUNICATIONS L7D. Wea

P. BHOLUSARIA & CO. 26/11, SHAKTI NAGAR

Independent Auditor's Report on the Quarterly and Year to Date Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

To The Board of Directors Paramount Communications Limited

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying statement of quarterly and year to date consolidated financial results of Paramount Communications Limited ("Parent Company") its subsidiary (collectively, "the Group) for the quarter ended 31st March, 2023 and for the year ended 31st March 2023 ("Statement"), attached herewith, being submitted by the Parent Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations"),

In our opinion and to the best of our information and according to the explanations given to us, the Statement:

Ss.INo	Company Name	ature
	Paramount Communications Limited	Parent Company
	Paramount Holdings Limited	Subsidiary Company
	AET Power Cables Limited	Subsidiary Company

includes the results of the following entities;

• . are presented in accordance with the requirements of the Listing Regulations in this regard; and
• . gives a true and fair view in conformity with the applicable accounting standards, and other accounting principles generally accepted in India, of the consolidated net profit and other comprehensive income and other financial information of the Group for the quarter ended 31st March 2023 and for the year ended 31st March, 2023.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of

the Consolidated Financial Results" section of our report. We are independent of the Group in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion.

Management's Responsibilities for the Consolidated Financial Results

The Statement has been prepared on the basis of the consolidated financial statements. The Board of Directors of the Parent Company are responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income/loss and other financial information of the Group in accordance with the applicable accounting standards prescribed under Section 133 of the act read with relevant rules issued thereunder and other accounting: principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Statement by the Directors of the Parent Company, as aforesaid.

In preparing the Statement, the respective Board of Directors of the Companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Companyor to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the Companies included in the Group are also responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the Statement as a wholeis free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstaternents can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the Statement.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain

professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Group has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions maycause the Group to cease to continue as a goingconcern.
• Evaluate the overall presentation, structure and content of the Statement, including the disclosures and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial results /financial information of the Parent Company within the Group of which we are the independent auditors, to express an opinion on the statement. We are responsible for the direction, supervision and performance of the audit of the financial information of such entity included in the Statement of which we are the independent auditors.

Materiality is the magnitude of misstatements in the Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Consolidated Financial Results.

We communicate with those charged with governance of the Parent Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance of the Parent Company with a statement that we have complied with relevant ethical requirements regarding independence,

and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the circular no. CIR/CFD/CMD 1/44/2019 dated 29th March 2019 issued by the Securities Exchange Board of India under Regulation 33 (8) of the listing Regulations, to the extent applicable.

Other Matter

The accompanying Statement includes unaudited financial statements in respect of subsidiary whose financial statements reflect total assets of Rs. NIL as at March 31, 2023, and total revenues of Rs. Nil and total net profit / (loss) aftertax of Rs. NIL for the quarter and the year ended on thatdate respectively and net cash outflows of Rs. NIL for the year ended March 31,2023. These financial statements/financial information are unaudited and have been furnished to us by the Management and our opinion on the consolidated financial results,in so far as it relates to the amounts and disclosures included in respect of Subsidiary are solely on the basis of such unaudited financial statements / financial information. In our opinion and according to the information and explanation given to us by the Management, these financial statements / financial information are not material to the Group.

Our opinion on the statement is not modified in respect of the above matters.

The statement includes the results for the quarter ended 3ist March 2023 being the balancing figures between the audited figures in respect of the full financial year ended 31st March 2023 and the published unaudited year-to-date figures up to the end of the third quarter of the financial year, which were subjected to a limited review by us, as required under the Listing Regulations.

For P. Bholusaria & Co. Chartered Accountants Firm's Registration No,.000468N

(Pawan Bholusaria)

Partner

M. No. 080691

he

Date: 19.05.2023 Place: Delhi UDIN: 33,08 0671 BY BC any

PARAMOUNT COMMUNICATIONS LIMITED

STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2023

	PARAMOUNT COMMUNICATIONS LIMITEDKH-433, Maulsari Avenue, Westend Greens, Rangpuri, New Delhi-110037.Ph.: +91-11-45618800-900, Fax No.: +91-11-25893719/20
	E-mail: pel@paramountcables.com, Website: www.paramountscables.comSTATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2023	CIN : L74899DL1994PLC061295
s			Quarter Ended			(Rs. in Lakhs except per share data }Year Ended
No.	Rantleulars	31.03.2023Audited	31.12.2022Unaudited	34.03.2022Audited	31.03.2023Audited	34.03.2022Audited
	IncomeRevenue irom operations	20,207.81	21,808.93	18,317.60	79,646.65	58,093.61
	H Other incomeIli Total Income (HII)	659.5420,887.35	390.8522,199.78	159.9018,477.50	1,625.3284,271.97	374.3358,467.94
	1V Expenses
	{a} Cost of materials consumed(b} Changes in inventories of finished goods,	47,717.04{2,486.03)}	18,146.29939.60	13,687.36865.71	58,611.78(265.19)	45,927.49(870.27)
	work-in-progress and scrap(c) Employee benefits expense	436.48	565,22	561.34	2,149.26	2,294.10
	(d) Finance costs	176.54	226.87	103.03	TATE	640.88
	(e) Depreciation and amortization expense(f)) Other expenses	228.053,415.17	234.893,655.04	243.312,530.14	925.8014,355.89	954,468,400.76
	Total Expenses (IV)	19,487.25	20,768.04	17,990.83	76,495.22	57,647.42
	V Profit before exceptional items and tax (IM -IV)	1,380.10	1434.77	486.67	4,776.75	820.52
	VI { Exceptional items	a	a	a	:	-
	VII Profit after exceptional items but before tax (V+VI)	1,380.40	1,431.77	486.67	4,776.75	820.52
	vill Income Tax expense(W) Current Tax	:	-	iL
	(ll) Deferred Tax	fe	3	fe	-	-
	IX Profit for the period from continuing operations (Vil -VIII)	1,380.40	1,484.77	486.67	4,716.75	820.52
	Discontinued operations :-X Profit from discontinued operations	=	3	2
	Xt Tax expense of discontinued operations	i	-		"	-
	XII Profit from discontinued operations (after tax)	-	-	:	:	5
	XII Profit for the period (IX + XU)XIV Other comprehensive income/{Loss) =	1,380.10	1431.77	480.87	4,776.75	820.82
	A. @l) Items that will not be reclassified to profit or loss	(8.44)	14.64	34.52	36.49	58.56
	(Il) Income tax relating to items that will not bereclassified to profit & lossB. (i) Items thai will be reclassified to profit or loss	:e	-2	=	-	=-
	(il) Income tax relating to items that will be reclassified toprofit & loss	E	:	2	2
	Total other comprehensive income /{Loss) { XIV)	(8.44)	14.64	34.52	38.49	58.56
	XV Total Comprehensive Income { Comprising Profit andother comprehensive income for the period) (XIll + XIV)	1,371.66	1446.41	$21.19	4,812.24	879.08
XVI	Paid-up Equity Share Capital (Face Value Rs. 2 per share)	3,883.68	3,883.68	3,883.68	3,883.68	3,883.68
	XVII] Other Equity excluding revaluation Reserve				25,624.50	16,290.57
	XVill Earnings per equity share in Rs. (for continuingoperations):
	(1) Basic(2) Diluted	0.670.67	0.72O72	0.250.25	2.402.40	9.420.42
	XIX Earnings per equity share in Rs. {for discontinuingoperations):
	(1) Basic(2) Diluted	:	-~	-a	-	-
	XX Earnings per equity share in Rs. (for discontinuing& continuing operations):
	(1) Basic(2) Dituted	0.670.67	0.72072	0.250.26	2.402,40.	0.420.42

Consolidated Statement of Assets and Liabilities as at 31.03.2023		(Rs. in Lakhs)
Particulars	As at	As at
	34.03.2023 31.03.2022
		(Audited ) (Audited )
Assets
Non-Current Assets
(a) Property, Plant and Equipment(b) Right of use assets	9,763.902,890.92	9,577.113,817.36
{c) Other Intangible assets	108.68	151.01
{d) Financial Assets
(i) Investments(ii) Loans	0.003.27	0,00
(iii) Others non-current financial assets	977.22	1.991,446.06
(e) Other non-current assets	102.40	46.16
Total Non-Current Assets		13,846.39 15,039.69
Current Assets
(a) Inventories(b) Financial Assets	11,309.64]	11,460.92
(i) Investments	1,002.02	-
(ii) Trade receivables		16,876.92 17,361.02
(iii) Cash and cash equivalents(iv) Bank balances other than (iii) above	1,797.411,220.18	138.681,271.93
(v) Loans	43.16	21.90
{vi} Other current financial assets	292.89	345.14
(c) Current Tax Assets (net)(d) Other current assets	184.703,817.70	408.902,050.68
Total Current AssetsTotal Assets	50,391.01	36,544.62 33,059.1748,098.86
Equity and Liabilities
Equity(a) Equity Share Capital	3,883.68	3,883.68
{b) Other Equity	25,624.50	16,290.57
Total Equity	29,508.18	20,174.25
Liabilities
Non-Current Liabilities
(a) Financial Liabilities{i) Borrowings	411,231.96}	15,733.55
(ii) Lease Liabilities	225.85	1,027.62
(b) Provisions	59.83	405.12
Total Non-Current Liabilities	11,517.64	16,866.29
Current Liabilities
{a) Financial Liabilities
Borrowings{i)(ii) Lease Liabilities	4,557.568.12	1,740.53165.98
(iii) Trade Payables
- Total outstanding dues of Micro Enterprises and	733.75	271.17
Small Enterprises-Total outstanding dues of creditors other than	3,247.74	8,079.26
Micro Enterprises and Small Enterprises
{iv) Other Financial Liabilities{b) Other current Liabilities	435,81373.79	436.18282.70
(c) Provisions	8.42	82.50
	9,365.19	11,058.32

PARAMOUNT COMMUNICATIONS LIMITED CIN : L74899DL1994PLC061295

PARAMOUNT COMMUNICATIONS LIMITEDCIN : L74899DL1994PLC061295CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31ST MARCH 2623
				{Rs. in Lakhs)
Particulars	For the year ended 31stMarch 2023		For the year ended 31stMarch 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net Profit before taxationAdjustment for :Depreciation and amortization expenses	925.80	4,776.75	954.46	820.52
Interest Expenses/ Finance CostInterest on lease liability & on fair valuation of Security Deposit	626.8690.82		535.02105.87
Reversal of rent lease liabilityUnrealised Exchange Gain/(Loss)	(185.55)43.34		(266.67)50.25
Net Gain on Fair Valuation of Current InvestmentProfit on sales of Investment	(2.02)(1.11)		-
Loss / (Profit) on sale of assets(net)Interest Income	748(149.60)		~-(201.25)
Net Gain on Derivatives	(17.09)		-
Lease Liability Written BackProvision for Doubtful debts/ Written back	(245.96)11.47		--
Operating Profit before working capital changes		1,164.415,941.16		1,177.681,998.20
Adjustment for :
Decrease / (Increase) in Trade ReceivablesDecrease / (Increase) in Loans & AdvancesDecrease / (Increase) in Inventaries	440.79(22.53)451.28		(690.67)1.43(1,440.60)
Decrease / (Increase) in Other financial and non financial Assets(Decrease) / Increase in Trade Payables	(1,289.97)(4,368.94)		(154.32)1,624.43
(Decrease) / Increase in Other Liabilities & Provisions	33.57	(5,055.80)	125.47	(534.26)
Cash generated from operationExceptional items		885.36		1,463.94
Income Tax Refund (net)NET CASH FROM OPERATING ACTIVITIES	224.20	224.201,109.56	0.48	0.4841,464.42
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of Fixed Assets including Capital WIP.Sale of Fixed Assets	(894.72)50.39		(286.51)-
Interest ReceivedSale of Investments (Mutua! Fund)	208.85801.11		179.39-
Purchase of Investmenis (Mutual Fund}	(1,800.00)	(1,634.37)	-
NET CASH FROM INVESTING ACTIVITIES		(1,634.37)		(107.12)(107.12)
CASH FLOWS FROM FINANCING ACTIVITIESInterest Expenses/ Finance Cost	(653.60)		(535.02)
Increase/(Decrease) in Borrowings from banks / ARC /NBFCLoan From Directors	(1,654.55)(30.00)		(1,440.20)30.00
Proceeds from Issue of Convertiable Equity share warrant	4,521.69	2,183.54	-	(1,945.22)
NET CASH FROM FINANCING ACTIVITIESNET INCREASE/(DECREASE) IN CASH & CASH EQUIVALENTSCASH AND CASH EQUIVALENTS AT BEGINNING OF THE YEAR		2,183.544,658.73		(1,945.22)](587.92)

• Notes: 7 The aforesaid Financial Results were placed before and reviewed by the Audit Committee at its meeting held on 19th May 2023 and approved by the Board of Directors at its meeting held on the same date.
• The financial results for the year ended March 31, 2023 have been audited by the statutory auditors of the Company. The statutory auditors have expressed an unmodified opinion.
• These financial results have been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent applicable.

The consolidated financial results of the Company and its subsidiaries have been prepared as per Ind AS 110 "Consolidated Financial Statements" as notified by the Ministry of Corporate Affairs.

During the quarter, the parent company has allotted 622,25,925 equity warrants at a price of Rs.21.57 each to Non-Promoters Entities on preferential basis entitling them for conversion of equivalent number of Equity Shares of Rs.2 each ata premium of Rs.19.57 per equity share in accordance with SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018 . The parent company has received 25 % upfront payment against the said equity warrants. In respect of 2,00,000 equity warrants, the allottee has made full payment of Rs. 21.57 per warrant. Thus total amount received against warrants issued is Rs 3397.94 lakhs (i.e. 3365.60 Lakhs representing 25% upfont payment and Rs.32.34 Lakhs advance payment received on 2,00,000 equity warrants). The equity warrants shail be converted within the specified time limit as per SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018.

Notes:
7	The aforesaid Financial Results were placed before and reviewed by the Audit Committee at its meeting held on 19th May 2023 andapproved by the Board of Directors at its meeting held on the same date.
	The financial results for the year ended March 31, 2023 have been audited by the statutory auditors of the Company. The statutoryauditors have expressed an unmodified opinion.
	These financial results have been prepared in accordance with the Companies (Indian Accounting Standard) Rules, 2015 (ind AS)prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extentapplicable.
	The consolidated financial results of the Company and its subsidiaries have been prepared as per Ind AS 110 "ConsolidatedFinancial Statements" as notified by the Ministry of Corporate Affairs.
	During the quarter, the parent company has allotted 622,25,925 equity warrants at a price of Rs.21.57 each to Non-Promotersentitling them for conversion of equivalent number of Equity Shares of Rs.2 each ata premium ofEntities on preferential basisRs.19.57 per equity share in accordance with SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2018 . The parentmade full payment of Rs. 21.57 per warrant. Thus total amount received against warrants issued is Rs 3397.94 lakhs (i.e. 3365.60Lakhs representing 25% upfont payment and Rs.32.34 Lakhs advance payment received on 2,00,000 equity warrants). The equitywarrants shail be converted within the specified time limit as per SEBI (Issue of Capital & Disclosure Requirements) Regulations,2018.
	The details of utilisation of proceeds is summarised as below:			(Rs. in Lakhs)
	Particulars	Amount tobe utilisedas per offerdocument(25%)	Amount31st March,2023	Amountutilised upto unutilised ason 31stMarch, 2023
	Capital Expenditure	499.30	-	499.30
	Working Capital	2,047.13	2,026.57	20.56
	General Corporate Purpose	819.17	809.58	9.59
	Total	3,365.60	2,836.15	529.45
	Net proceeds which were unutilised as at 31st March, 2023 were temporarilyand Rs. 29.45 Lakhs is kept in issue monitoring account with scheduled bank. Further the advance payment of Rs. 32.34 Lakhsreceived on 2,00,000 equity warrants is also kept in escrow account separately.The Code on Social Security, 2020 ('the Code") has been approved by the Parliament which inter-alia deals with employee benefitsduring employment and post-employment. The Code has been published in the Gazette of India on September 29, 2020. Thewill be assessed and recognised post notification of the relevant provisions.		invested	in mutual funds
	In view of brought forwarded losses as per Income Tax Act, 1961, no provision for current tax is required to be made.
	There are no separate reportable segments as per the Indian Accounting Standard (Ind AS-108) on segment reporting.
	subject to limited review by the auditor.
	The figures of the previous year /periods have been regrouped/ rearranged wherever considered necessary to facilitate comparison.
				\
	VvPlace : New Delhi			ene omSanjay Aggarwal

Net proceeds which were unutilised as at 31st March, 2023 were temporarily in mutual funds amounting to Rs. 500.00 Lakhs and Rs. 29.45 Lakhs is kept in issue monitoring account with scheduled bank. Further the advance payment of Rs. 32.34 Lakhs received on 2,00,000 equity warrants is also kept in escrow account separately.

The Code on Social Security, 2020 ('the Code") has been approved by the Parliament which inter-alia deals with employee benefits during employment and post-employment. The Code has been published in the Gazette of India on September 29, 2020. The effective date of the Code and rules thereunder are yet to be notified. In view of this, the impact of the change, if any, on the Company will be assessed and recognised post notification of the relevant provisions.

In view of brought forwarded losses as per Income Tax Act, 1961, no provision for current tax is required to be made.

There are no separate reportable segments as per the Indian Accounting Standard (Ind AS-108) on segment reporting.

The figures of the quarter ended March 31, 2023 and March 31, 2022 are the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures upto third quarter of the respective financial year which were subject to limited review by the auditor.

The figures of the previous year /periods have been regrouped/ rearranged wherever considered necessary to facilitate comparison.

By and on behalf of the Boart

For PARAMOUNT COMMUNICATIONS UTE.