4,250 per cent returns: This multibagger cable manufacturing company acquires 100 per cent stake in Valens Technologies Private Limited!

4,250 per cent returns: This multibagger cable manufacturing company acquires 100 per cent stake in Valens Technologies Private Limited!

Kiran Shroff
/ Categories: Trending, Multibaggers

The stock gave multibagger returns of 265 per cent in just 6 months, 520 per cent in 3 years and a whopping 4,250 per cent in a decade.

Paramount Communications Ltd informed that the company has acquired a 100 per cent stake in Valens Technologies Private Limited (VTPL). The acquired company's authorized share capital stands at Rs 1 crore, while the paid-up share capital is slightly lower at Rs 19,39,960. Impressively, the company's turnover for the financial year concluding on March 31, 2023, amounted to a substantial Rs 28,07,62,401 which is from the manufacturing of HDPE pipes. This robust financial performance underscores the company's strong standing in its industry.

Paramount Communications Ltd is engaged in the manufacturing of wires and cables comprising of power cables, telecom cables, railway cables and specialised cables. The company has a market cap of over Rs 1,200 crore and has delivered good profit growth of 42.5 per cent CAGR over the last 5 years.

According to its Quarterly Results, the net sales increased by 29 per cent to Rs 211 crore and net profit skyrocketed by 115 per cent to Rs 15 crore in Q1FY24 compared to Q1FY23. According to its annual results, the net sales increased by 37 per cent to Rs 796 crore and net profit skyrocketed by 500 per cent to Rs 48 crore in FY23 compared to FY22.

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On Monday, shares of Paramount Communications Ltd plunged 1.57 per cent to Rs 52.66 per share with an intraday high of Rs 53.45 and an intraday low of Rs 51.10.

The shares of the company have a PE of 21.3x, an ROE of 19.2 per cent and a ROCE of 21.3 per cent. The stock gave multibagger returns of 265 per cent in just 6 months, 520 per cent in 3 years and a whopping 4,250 per cent in a decade.

 Investors should keep an eye on this Small-Cap cable manufacturing stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

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