Paramount Cables' revenue grows 34.4% YoY

Wire and cable manufacturer Paramount Communications has informed exchanges that its revenue grew 34.4 per cent Year-on-Year (YoY) in the financial year 2024. " This year, we reached a significant milestone by surpassing Rs.1,000 crore in revenue showing a growth of 34.4% y-o-y," the company said.

The company, which has two manufacturing facilities in Rajasthan and Haryana, it offers over 25 product types and 2,500 SKUs, said that its EBITDA (earnings before interest, taxes, depreciation, and amortization) grew 51.5 per cent y-o-y.

"In FY24, our EBITDA has increased to Rs. 972.6 million, showcasing a growth of 51.5 per cent growth as compared to Rs. 642.0 million in FY23. This growth, coupled with an EBITDA margin of 9.0 per cent, reflects the benefits of operating leverage and a sharp focus on cost control," the company said.

Revenue from domestic operations in FY24 amounted to Rs.7,944.8 million, showing a 100.5 per cent Y-o-Y increase from Rs.3,961.8 million in FY23.

In terms of sales mix, domestic sales stood at 74.2 per cent and exports stood at 25.8 per cent.