Paramount Communications LimitedInfrastructure & ConstructionPARACABLES
Q1 FY27 concall · earnings callParamount Communications Limited
Strong recovery in US exports combined with robust domestic demand drove record quarterly performance, with margins improving significantly.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue from Operations (Q1 FY27) | ₹529.4 Cr | 17.4% YoY | |
| EBITDA including other income | ₹37.8 Cr | — | |
| EBITDA margin | 7.1% | 44 bps QoQ | |
| Operating profit (ex-other income) | ₹34.7 Cr | 129.2% YoY | |
| Operating margin | 6.6% | 320 bps YoY | |
| PAT | ₹19.7 Cr | 3.7% YoY | |
| PAT margin | 3.7% | — | |
| EPS | INR 0.64 | — |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹391.64 Cr+37.8% YoY+10% QoQ | ₹22.60 Cr+2.6% YoY+11.2% QoQ | ₹0.74-8.6% YoY+10.4% QoQ |
| Q2 FY25 | ₹355.89 Cr+41% YoY+10.8% QoQ | ₹20.33 Cr+4.3% YoY-19.6% QoQ | ₹0.67-22.1% YoY-19.3% QoQ |
| Q1 FY25 | ₹321.06 Cr+52.5% YoY-0.7% QoQ | ₹25.30 Cr+74.1% YoY-14.2% QoQ | ₹0.83+15.3% YoY-17% QoQ |
| Q4 FY24 | ₹323.37 Cr+60% YoY+13.8% QoQ | ₹29.49 Cr+113.7% YoY+33.9% QoQ | ₹1.00+49.3% YoY+23.5% QoQ |
| Q3 FY24 | ₹284.25 Cr+30.3% YoY+12.6% QoQ | ₹22.03 Cr+53.8% YoY+13% QoQ | ₹0.81+12.5% YoY-5.8% QoQ |
TL;DR
- Revenue grew 17.4% YoY to INR 529.4 crores, though declined 7.7% sequentially due to seasonality.
- Operating profit excluding other income surged 129.2% YoY, with margin expanding 320 bps YoY to 6.6%.
- Exports jumped ~77% QoQ to INR 155 crores (29% of revenue) post-tariff resolution, targeting INR 700-800 crores for FY27.
- Domestic revenue was INR 374 crores, led by power cables (57.2% of revenue).
- Order book grew to INR 615 crores, with power cable orders up 27% YoY to INR 455 crores.
- Capacity utilization at existing plants is ~100%; Narmadapuram greenfield project on track for FY28.
Said on the call
“This has been a genuinely good quarter, after the problems, difficulties and the losses we faced on account of exports to the US market last year.”
From the Q&A
| Topic | What management said |
|---|---|
| Margin Outlook | Management aims to return to FY25 EBITDA margin levels by Q4 FY27, driven by US export normalization and favorable domestic product mix. |
| Narmadapuram Project Status | Critical machinery ordered, civil construction started, on track for partial operations in Q1 FY28, targeting INR 500 crores revenue in FY28 scaling to INR 1,200 crores by FY29 at ~75% utilization. |
| Export Order Book | Export order book is kept intentionally lower (~INR 97 crores) post-tariff disruption to manage risk and maintain margins; revenue guidance of INR 700-800 crores for FY27 remains firm. |
| Capacity Utilization & Growth | Existing plants operate at ~100% utilization, constraining growth to 15-20% in FY27; Narmadapuram will enable faster growth to meet INR 5,000 crores revenue target by FY31. |
| New Products & Approvals | Launching solar cables (>600V) in the US; 66 KV approvals in place; 132 KV approvals expected ~1 year after Narmadapuram production starts. |
| Working Capital & Hedging | Target working capital cycle of 90-100 days; firm-price orders limited to 3-4 months with metal booked immediately to hedge volatility. |
Guidance
- Aim to return to FY25 level of margins by Q4 FY27.
- Expect exports of INR 700 crores to INR 800 crores in FY27.
- Expect 15% to 20% revenue growth in FY27.
- Narmadapuram plant to partly commence in Q1 FY28 with ~INR 500 crores revenue in FY28, scaling to ~INR 1,200 crores by FY29.
- Five-year vision of reaching revenues of INR 5,000 crores by FY31.
- Overall debt-equity ratio to remain below 0.3x post-Narmadapuram project.
Source
Summary written from the transcript filed by Paramount Communications Limited for the call held on 17 Aug 2026; published 21 Aug 2026, 14:46 IST.
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