Paramount Communications Ltd

Paramount Communications Ltd

₹ 76.1 -4.97%
04 Mar 4:01 p.m.
About

Paramount Communications Ltd is engaged in manufacturing of Wires and Cables comprising of power cables, telecom cables, railway cables and specialised cables. [1]

Key Points

Product Segments
Power: LT & HT Power Cables, LT & HT Aerial Bunch Cables, Control Cables, Instrumentation Cables.
Telecom: Optical Fiber Cable (OFC) & FTTH Jelly Filled Cables, CATV Cables.
Railways: Signalling Cables, Railway Power Axle Counter Cables.
Special Products: PTFE & Thermocouple Cables, Quad Cables Fire Survival Cables, Solar Cables.
EPC Services: Telecom Consultancy & EPC, Power & Railway EPC Turnkey Projects, Specialized Projects OPGW, Submarine Cables Installation & repair. [1] Company has 25 products with 2,500+ SKUs. Paramount specializes in turnkey services, offering expertise in the repair and installation of undersea cables.[2]

Clientele
The Co has a prestigious clientele that includes government, institutional and major private sector organizations. It includes Indian Railways, BSNL, RailTel, Tata Projects Limited, Adani Renewables, Adani Power, L&T, Siemens and others. [3][4]

Revenue Mix H1FY24[5]
Power Cables: 37%
Railway Cables: 11%
Telecom Cables: 6.3%
Domestic Wires: 6.7%
Exports: 33%
EPC Projects: 3.6%
Others: 2.4%

  • Market Cap 2,128 Cr.
  • Current Price 76.1
  • High / Low 117 / 27.9
  • Stock P/E 30.5
  • Book Value 14.2
  • Dividend Yield 0.00 %
  • ROCE 13.8 %
  • ROE 21.2 %
  • Face Value 2.00

Pros

  • Company has delivered good profit growth of 42.6% CAGR over last 5 years
  • Debtor days have improved from 102 to 77.6 days.

Cons

  • Stock is trading at 5.35 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -11.5%
  • Tax rate seems low
  • Company has a low return on equity of 9.68% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 26.5% of their holding.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Cables Industry: Cables - Power

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
152 164 96 138 163 183 164 213 218 202 211 252 284
147 159 94 133 157 176 156 199 203 191 194 231 260
Operating Profit 5 6 2 5 6 7 8 14 15 11 17 21 24
OPM % 3% 3% 3% 4% 4% 4% 5% 7% 7% 6% 8% 8% 8%
1 1 1 1 1 2 3 3 4 7 2 2 2
Interest 2 1 2 2 2 1 1 2 2 2 2 1 1
Depreciation 2 2 2 2 2 2 2 2 2 2 2 2 2
Profit before tax 2 3 -1 2 3 5 7 13 14 14 15 20 22
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
2 3 -1 2 3 5 7 13 14 14 15 19 22
EPS in Rs 0.10 0.13 -0.05 0.08 0.14 0.25 0.36 0.65 0.74 0.71 0.62 0.82 0.79
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
699 677 412 451 308 314 433 614 606 518 580 794 949
713 685 431 486 351 362 436 571 561 501 559 746 876
Operating Profit -14 -8 -20 -35 -44 -48 -3 42 45 17 20 48 73
OPM % -2% -1% -5% -8% -14% -15% -1% 7% 7% 3% 4% 6% 8%
20 45 -29 4 2 92 31 3 3 3 4 16 12
Interest 44 49 42 61 74 20 4 8 11 7 6 7 6
Depreciation 13 12 11 9 9 10 9 9 11 9 10 9 9
Profit before tax -50 -24 -101 -101 -124 15 15 29 26 3 8 48 70
Tax % -0% -0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
-50 -25 -101 -101 -124 15 15 29 26 3 8 48 70
EPS in Rs -5.42 -1.96 -8.05 -8.06 -9.89 1.17 1.03 1.70 1.43 0.16 0.42 2.46 2.94
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 2%
5 Years: 13%
3 Years: 9%
TTM: 22%
Compounded Profit Growth
10 Years: 11%
5 Years: 43%
3 Years: 22%
TTM: 80%
Stock Price CAGR
10 Years: 49%
5 Years: 45%
3 Years: 107%
1 Year: 111%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 10%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 19 25 25 25 25 25 29 34 37 39 39 39 48
Reserves -25 -48 -143 -246 -368 -36 58 107 145 154 163 211 350
Preference Capital 0 8 8 8 8 0 0 0 0 0 0 0
475 410 342 397 346 217 203 210 210 202 187 160 151
164 184 184 179 305 116 101 118 120 76 93 94 136
Total Liabilities 633 571 407 355 308 321 390 469 512 471 481 504 685
142 98 88 81 75 138 130 132 145 142 135 128 156
CWIP 1 0 0 0 0 0 0 0 0 0 0 0 1
Investments 1 1 1 0 0 0 0 0 0 0 0 10 0
489 472 318 274 233 183 260 337 367 329 346 366 529
Total Assets 633 571 407 355 308 321 390 469 512 471 481 504 685

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
47 68 137 14 138 52 20 -18 14 14 15 11
-2 55 1 -2 -1 2 1 -8 -6 -3 -1 -16
-46 -123 -136 -7 -127 -53 -18 25 -8 -5 -19 22
Net Cash Flow -1 -0 2 5 10 1 4 -1 -0 6 -6 17

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 104 105 122 128 152 135 159 127 125 118 109 78
Inventory Days 155 163 149 65 69 17 29 60 88 88 92 71
Days Payable 58 67 82 28 66 25 95 80 88 59 67 25
Cash Conversion Cycle 201 200 189 164 156 127 93 107 125 147 134 123
Working Capital Days 141 139 74 14 -203 36 105 107 126 150 142 128
ROCE % -5% -4% -9% -20% -52% -49% -3% 12% 10% 3% 4% 14%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Jan 2024
62.12% 62.12% 62.12% 62.12% 62.12% 62.12% 62.12% 62.12% 63.90% 62.68% 53.51% 49.59%
0.06% 0.01% 0.00% 0.00% 0.00% 0.06% 0.07% 0.55% 0.86% 0.52% 7.60% 7.04%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.21% 0.00% 0.00%
37.83% 37.88% 37.88% 37.88% 37.88% 37.82% 37.80% 37.34% 35.24% 36.58% 38.89% 43.35%
No. of Shareholders 33,80840,45642,10644,49444,91544,15240,81943,69644,76659,33370,89782,190

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls