Investor Presentation for the fourth quarter and financial year ended March 31, 2025
PARACABLES · price
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Paramount Communications (PARACABLES) reported FY25 revenue from operations of ₹15,756 Mn, up 47.2% YoY, with EBITDA of ₹1,344 Mn (up 38.2%) and PBT of ₹1,109.5 Mn (up 35.3%). PAT was nearly flat at ₹870 Mn (up just 1.6%) due to tax liability kicking in from Q2 FY25 onwards, and Q4 FY25 PAT actually fell 36.5% YoY to ₹187 Mn. Revenue grew at a 39.5% CAGR over FY22–FY25, and PBT margin expanded sharply from 1.4% in FY22 to 7.0% in FY25. The order book stood at ₹6,507 Mn as of March 31, 2025, with Power Cables (~50%) and Exports (~31%) dominating the mix. The company became effectively debt-free after liquidating its ARC debt in August 2024, with debt-to-equity at just 0.05x.
Strong top-line and margin expansion story with a clean balance sheet is positive, but the sharp drop in Q4 PAT due to new tax incidence and lack of clear forward guidance may temper near-term enthusiasm. Investors should watch for sustainability of margins and execution of the new Madhya Pradesh greenfield project.