PARAMOUNT COMMUNICATIONS FUNDAMENTAL RESEARCH REPORT

Paramount Communications Ltd (NSE: PARACABLES, BSE: 530555), New Delhi, makes power, railway, telecom and specialcables (“Paramount Cables”) at two plants, Dharuhera (Haryana) and Khushkhera (Rajasthan), and is building a third atNarmadapuram (MP). FY26 revenue Rs 1,911 Cr: power cables 57%, exports 29% (about 95% of exports go to the US through 8distributors), house wires 6%, railway 4%. Mainboard, not an F&O stock, so it is in lane for a positional view. Shares 32.72 Cr(FV Rs 2) plus 72 lakh promoter warrants; mcap ~Rs 2,167 Cr; CMP Rs 66.21 (19-Oct-2026 NSE close, the latest session). Event 1 - FY26 was a tariff accident. US tariff s on Indian cable went from 10% to 50% between Apr and Aug-2025;management says US exports ran at a 4-4.5% EBITDA loss . Operating margin fell from 7.7% (FY25) to 3.5% (FY26). ReportedFY26 PAT of Rs 60 Cr includes Rs 46 Cr of one-off other income (keyman-insurance maturity Rs 27.8 Cr, FX Rs 11.4 Cr,derivatives Rs 6.8 Cr).