Electrical Equipment & Products company Paramount Communications announced FY24 results: Financial Highlights: Revenue: Rs 10,706.0 million, +34.4% YoY EBITDA: Rs 972.6 million, +51.5% YoY PAT: Rs 856.3 million, +79.3% YoY Revenue from domestic operations in FY24 amounted to Rs 7,944.8 million, showing a 100.5% YoY increase from Rs 3,961.8 million in FY23. In terms of sales mix, domestic sales stood at 74.2% and exports stood at 25.8% Operational Highlights: Robust order book of Rs 4,951.6 million Strong performance across product range, especially led by strong growth in Power and Railway cables. Exports continue to remain healthy as we achieve similar volumes as compared to FY23. Increasing production driving economies of scale and profitability. Healthy Balance sheet with debt equity ratio of 0.16 and Current Ratio of 3.40. The Company is poised to become debt free during FY25 after full repayment of ARC debt of Rs 862.5 million. Commenting on the results Sanjay Agarwal, Chairman & CEO said: “FY24 has been a remarkable year for Paramount Communications Limited. We have achieved strongest ever performance in terms of Revenue and Profitability. This year, we reached a significant milestone by surpassing Rs.1,000 crore in revenue showing a growth of 34.4% YoY. This achievement is underpinned by strong demand for our product portfolio and not only highlights the strength of our client relationships but also reaffirms our consistent delivery on commitments. Our order book which currently stands at Rs 4,951.6 million, provides strong visibility of revenues. Paramount is optimistic about further expanding its order book, bolstered by significant support from the railway and power sectors." "Our focus on operational excellence has led to significant improvements in our financial performance. In FY24, our EBITDA has increased to Rs 972.6 million, showcasing a growth of 51.5% growth as compared to Rs 642.0 million in FY23. This growth, coupled with an EBITDA margin of 9.0%, reflects the benefits of operating leverage and a sharp focus on cost control. In FY24, Paramount achieved a significant milestone by substantially repaying its ARC debt and positioning itself to become debt-free by FY25, demonstrating its commitment to prudent financial management. This achievement strengthens the company's balance sheet and ensures sufficient capital to pursue growth and enhance capabilities. Strategically positioned, Paramount is poised for strong and sustained growth, with a focus on diversifying our product range and delivering top-notch quality solutions in the wires and cables sector, while continuously innovating new products. We are prepared to leverage the anticipated increase in orders and position ourselves adeptly for potential opportunities. With these positive advancements, we remain confident in our capability to consistently deliver strong results for all our stakeholders in the times ahead.” Result PDF