Paramount Communications Ltd. — Interim / Quarterly Report 2024

May 24, 2024

Q4 & FY24 Financial & Operational Performance

Achieved a notable milestone by crossing Rs. 1,000 Cr revenue mark during the financial year, while maintaining sustainable profitability.

New Delhi, 24[th] May 2024: Paramount Communications Limited, established in 1955, is a leading player in India's wire and cable industry. With two manufacturing facilities in Rajasthan and Haryana, it offers over 25 product types and 2,500 SKUs. With a nationwide and international presence, Paramount has pioneered in introducing Lead-free House Wires, undersea cables repair and installation, and Axle Counter cables for Railways.

Another Year of Superlatve Consolidated Financial Performance for FY24

	Revenue Rs. 10,706.0 Mn +34.4% YoY	Revenue Rs. 10,706.0 Mn +34.4% YoY	Revenue Rs. 10,706.0 Mn +34.4% YoY					EBITDA Rs. 972.6 Mn +51.5% YoY	EBITDA Rs. 972.6 Mn +51.5% YoY					PAT Rs. 856.3 Mn +79.3% YoY	PAT Rs. 856.3 Mn +79.3% YoY
															Y-o-Y(%) 32.7% 51.5% 79.3%
	Rs. In Mn			Q4FY24				Q4FY23	Y-o-Y(%)	FY24				FY23	Y-o-Y(%)
	Total Income			3,261.4				2,086.7	56.3%	10,785.6				8,127.2	32.7%
	EBITDA			298.8				178.5	67.4%	972.6				642.0	51.5%
	EBITDA Margin(%)			9.2%				8.6%		9.0%				7.9%
	PAT			294.9				138.0	113.7%	856.3				477.7	79.3%
	PAT Margin(%)			9.0%				6.6%		7.9%				5.9%

*EBITDA is calculated including Other Income.

Operatonal Highlights

• Robust order book of Rs. 4,951.6 Mn

• Strong performance across product range, especially led by strong growth in Power and Railway cables. Exports continue to remain healthy as we achieve similar volumes as compared to FY23.

• Increasing production driving economies of scale and profitability.

• Healthy Balance sheet with debt equity ratio of 0.16 and Current Ratio of 3.40 .

• The Company is poised to become debt free during FY25 after full repayment of ARC debt of Rs. 862.5 Mn .

Revenue Mix

• Revenue from domestic operations in FY24 amounted to Rs.7,944.8 Mn , showing a 100.5% Y-o-Y increase from Rs.3,961.8 Mn in FY23.

• In terms of sales mix, domestic sales stood at 74.2% and exports stood at 25.8%

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Commentng on the results Mr. Sanjay Agarwal, Chairman & CEO said:

“ FY24 has been a remarkable year for Paramount Communications Limited . We have achieved strongest ever performance in terms of Revenue and Profitability. This year, we reached a significant milestone by surpassing Rs.1,000 crore in revenue showing a growth of 34.4% y-o-y. This achievement is underpinned by strong demand for our product portfolio and not only highlights the strength of our client relationships but also reaffirms our consistent delivery on commitments.

Our order book which currently stands at Rs. 4,951.6 Mn , provides strong visibility of revenues. Paramount is optimistic about further expanding its order book, bolstered by significant support from the railway and power sectors."

Our focus on operational excellence has led to significant improvements in our financial performance. In FY24, our EBITDA has increased to Rs. 972.6 Mn , showcasing a growth of 51.5% growth as compared to Rs. 642.0 Mn in FY23. This growth, coupled with an EBITDA margin of 9.0%, reflects the benefits of operating leverage and a sharp focus on cost control.

In FY24, Paramount achieved a significant milestone by substantially repaying its ARC debt and positioning itself to become debt-free by FY25, demonstrating its commitment to prudent financial management. This achievement strengthens the company's balance sheet and ensures sufficient capital to pursue growth and enhance capabilities.

Strategically positioned, Paramount is poised for strong and sustained growth, with a focus on diversifying our product range and delivering top-notch quality solutions in the wires and cables sector, while continuously innovating new products. We are prepared to leverage the anticipated increase in orders and position ourselves adeptly for potential opportunities. With these positive advancements, we remain confident in our capability to consistently deliver strong results for all our stakeholders in the times ahead.”

Disclaimer:

Certain statements in this document may be forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Paramount Communications Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstance.

Contact Details:

S.K Agarwal (CFO) Paramount Communications Ltd Email: sk.agarwal@paramountcables.com Contact: +91-1145618800/8900

Krunal Shah/Naman Maheshwari Captive IR Strategic Advisors Pvt. Ltd Email: krunal@cap-ir.com/naman@cap-ir.com Contact: +91 9372467194