Paramount Communications Ltd

Paramount Communications Ltd

₹ 37.2 -0.11%
09 Jun 1:43 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]

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. [2][3]

**Revenue Segment **
Power Cables: 51% in FY21 vs 50% in FY20
Telecom Cables (OFC and PIJF): 14% in FY21 vs 8% in FY20
Railway Cables: 21% in FY21 vs 31% in FY20
Domestic Wires: 8% in FY21 vs 6% in FY20
EPC and other: 7% in FY21 vs 5% in FY20 [1]

Geographical Split
India: 93% in FY21 vs 96% in FY20
Outside India: 7% in FY21 vs 4% in FY20 [4]

  • Market Cap 723 Cr.
  • Current Price 37.2
  • High / Low 45.0 / 9.80
  • Stock P/E 15.1
  • Book Value 15.2
  • Dividend Yield 0.00 %
  • ROCE 13.0 %
  • ROE 19.2 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 42.5% CAGR over last 5 years
  • Debtor days have improved from 102 to 77.3 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Company has a low return on equity of 9.33% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoters have pledged 32.9% of their holding.
  • Earnings include an other income of Rs.16.2 Cr.

* 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

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
134 85 117 152 164 96 138 163 183 164 213 218 202
124 83 114 147 159 94 133 157 176 156 199 203 191
Operating Profit 9 2 4 5 6 2 5 6 7 8 14 15 11
OPM % 7% 2% 3% 3% 3% 3% 4% 4% 4% 5% 7% 7% 6%
1 1 1 1 1 1 1 1 2 3 3 4 7
Interest 3 2 2 2 1 2 2 2 1 1 2 2 2
Depreciation 2 2 2 2 2 2 2 2 2 2 2 2 2
Profit before tax 5 -2 0 2 3 -1 2 3 5 7 13 14 14
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Net Profit 5 -2 0 2 3 -1 2 3 5 7 13 14 14
EPS in Rs 0.27 -0.09 0.01 0.10 0.13 -0.05 0.08 0.14 0.25 0.36 0.65 0.74 0.71
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
699 677 412 451 308 314 433 614 606 518 580 796
713 685 431 486 351 362 436 571 561 501 559 749
Operating Profit -14 -8 -20 -35 -44 -48 -3 42 45 17 20 48
OPM % -2% -1% -5% -8% -14% -15% -1% 7% 7% 3% 4% 6%
20 45 -29 4 2 92 31 3 3 3 4 16
Interest 44 49 42 61 74 20 4 8 11 7 6 7
Depreciation 13 12 11 9 9 10 9 9 11 9 10 9
Profit before tax -50 -24 -101 -101 -124 15 15 29 26 3 8 48
Tax % -0% -0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Net Profit -50 -25 -101 -101 -124 15 15 29 26 3 8 48
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
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: 10%
TTM: 37%
Compounded Profit Growth
10 Years: 11%
5 Years: 43%
3 Years: 22%
TTM: 482%
Stock Price CAGR
10 Years: 37%
5 Years: 21%
3 Years: 65%
1 Year: 220%
Return on Equity
10 Years: %
5 Years: 13%
3 Years: 9%
Last Year: 19%

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
19 33 33 33 33 25 29 34 37 39 39 39
Reserves -25 -48 -143 -246 -368 -36 58 107 145 154 163 256
475 410 342 397 346 217 203 210 210 202 187 160
164 184 184 179 305 116 101 118 120 76 93 49
Total Liabilities 633 571 407 355 308 321 390 469 512 471 481 504
142 98 88 81 75 138 130 132 145 142 135 128
CWIP 1 0 0 0 0 0 0 0 0 0 0 0
Investments 1 1 1 0 0 0 0 0 0 0 0 10
489 472 318 274 233 183 260 337 367 329 346 366
Total Assets 633 571 407 355 308 321 390 469 512 471 481 504

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 77
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 36 105 107 126 150 142 132
ROCE % -5% -4% -9% -20% -52% -49% -3% 12% 10% 3% 4% 13%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
60.08 60.08 60.05 62.12 62.12 62.12 62.12 62.12 62.12 62.12 62.12 62.12
1.59 1.59 1.59 1.51 0.06 0.01 0.00 0.00 0.00 0.06 0.07 0.55
38.33 38.33 38.36 36.38 37.83 37.88 37.88 37.88 37.88 37.82 37.80 37.34

* 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.

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