Paramount Communications Ltd(PARACABLES)

NSE: PARACABLESBSE: 530555

₹ 60.7+5.25%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 1,986 crNext results: 26 Oct 2026Website: www.paramountcables.comUpdated: 24 Oct 2026

About

Paramount Communications Ltd is an Indian manufacturer of wires and cables, offering 25+ products across 2,500+ SKUs spanning power, telecom, railway, and specialty cables. In FY26 the company reported revenue of ₹1,913 Cr, with the Wires and Cables segment accounting for 99.7% of sales. Paramount is India's largest exporter of electric wires and cables to the United States and the country's first manufacturer of axle counter railway cables, lead-free house wires, and fire survival cables.^[1][2]

Business segments

Wires and Cables is the sole reported segment, contributing ₹1,912.17 Cr or 99.7% of FY26 revenue, with its share up 1.9 percentage points over FY2024-FY2026.^[2]
Within domestic revenue of ₹1,361 Cr in FY26, B2B industrial sales were ₹1,001 Cr (up 37.3% YoY), led by power cables; domestic share of total revenue rose from 69% in FY25 to 71% in FY26.^[3]
Power cables constituted ~50% of total company sales in FY25 (₹787 Cr, +77% YoY), rising to 57.2% of Q1 FY27 revenue, up from 44.8% in Q3 FY25.^[4]
Export revenue was ₹483 Cr (31% of sales) in FY25, predominantly to the US (≈95% of exports); in Q1 FY27, exports recovered to ₹155 Cr (29.3% of revenue) after tariff disruption.^[4]

Products and certifications

Product range spans 25+ products with 2,500+ SKUs: HV & LV power cables, optical fiber cables, telecom cables, railway cables, instrumentation & data cables, fire survival cables, and house wires.^[5]
Paramount is India's first manufacturer of axle counter railway cables, lead-free house wires, and fire survival cables, and an early mover in submarine cable laying and repair.^[5]
New products developed include tray cables, smaller fire survival cable sizes, and special conductors - HTLS, ACSS, ACSS-TW, ACSR-TP - for Indian and export markets.^[5]
Key certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, BIS, UL approval for various cable types, LPCB for fire survival cables, and TEC/RDSO approvals for railways.^[5]

Manufacturing operations

Capacity utilisation at both existing plants was ~100% throughout Q1 FY27; management states the binding constraint on growth is manufacturing, not demand.^[6]
Metal throughput (copper and aluminium processed) was 29,664 MT in FY26 (+12% YoY; three-year CAGR ≈45%), rising a further ~4% YoY in Q1 FY27.^[3]
Copper and aluminium are sourced from domestic vendors; 95% of suppliers are local.^[5]
Total workforce stands at 1,616 employees, including 355 permanent employees, as of 31 March 2025.^[5]

Order book and working capital

Order book as of 30 June 2026 stood at ₹615 Cr, up from ₹583 Cr at end-March 2026; power cable orders within that were ₹455 Cr (+27% YoY), representing 74% of the book.^[6]
At end-March 2026, power cable orders in the book were ₹466 Cr - a record, up 66% YoY - with the domestic share of that book at 87%.^[3]
Working capital cycle was 96 days in Q1 FY27, improving from 101 days in Q4 FY26, with receivable days at 64 days (down from 79 days at end-March 2026).^[6]

Customers and distribution

Institutional customer base exceeds 750 clients across power transmission, railways, real estate, and industrial projects.^[5]
Domestic distribution network comprises 200+ channel partners, 500+ retail outlets, and 7,500+ electricians; the 'Paramount Parivar' app connects these on a unified loyalty and digital warranty platform.^[5]
Export markets span 25+ countries including the US, UK, Spain, Russia, South Africa, UAE, Jordan, Sri Lanka, Bangladesh, and Nigeria; Paramount is the largest exporter of electric wires and cables to the US.^[5]
US distribution network expanded from 2 distributors in FY20 to 8 in FY25, with products supplied to every US port.^[5]

Expansion and capex

Greenfield plant at Narmadapuram, Madhya Pradesh: 31 acres acquired; Phase 1 investment of ₹300 Cr targeted by FY28; operations expected to partly commence in Q1 FY28.^[3]
As of Q1 FY27, approximately ₹30 Cr has been spent on Narmadapuram; machinery has been ordered and civil mobilisation has begun. Of the ₹122 Cr equity raised in Q1 FY27, ₹65 Cr is earmarked for this capex.^[6]
Narmadapuram is targeted to generate ≈₹500 Cr revenue in FY28, scaling to ≈₹1,200 Cr at approximately 75% utilisation by FY29.^[3]
Narmadapuram Phase 1 will manufacture power cables up to 132 kV EHV; first 132 kV approvals are expected by end-FY28 with full approvals by FY29. E-Beam cables with major certifications are targeted by end-FY29.^[6]
Company targets ₹5,000 Cr revenue by FY31; existing Dharuhera and Khushkhera plants have an estimated revenue ceiling of approximately ₹2,000 Cr.^[6]

Recent developments

Q1 FY27: completed a fresh equity raise of approximately ₹122 Cr (₹30 Cr from promoters, ₹92 Cr from investors), lifting net worth to ₹894 Cr; debt-equity ratio stands at 0.15x.^[6]
Q1 FY27: US Supreme Court invalidated IEEPA tariffs, enabling export revenue to rebound to ₹155 Cr (+77% QoQ from ₹87 Cr in Q4 FY26); full-year FY27 US export revenue is guided at ₹700 - 800 Cr.^[6]
Q1 FY27: solar cable exports to the US launched (products above 600V), extending the export range beyond the existing LV cable portfolio.^[6]
Q1 FY27: HTLS conductor business has ₹100 Cr of orders in hand.^[6]
FY26: US reciprocal tariffs escalated from 10% (April 2025) to 50% (August 2025), disrupting export volumes and compressing FY26 absolute EBITDA despite 23% revenue growth.^[3]

Industry context

FY25 annual report cites the Indian wires and cables market as projected to grow at a 14.5% CAGR from 2025-2034.^[5]

Market Cap

₹1,986 Cr

High / Low

₹76 / 28

Stock P/E

28.8

Price / Book

2.3

Book Value

₹25

EPS

₹2.0

No. of Shares

30.52 Cr

ROCE

12.4%

ROE

8.0%

OPM

5.2%

Debt / Equity

0.15

Sales

₹1,913 Cr

Net Profit

₹60 Cr

Promoter holding

45.9%

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