In this article, we will try to analyze the Paracables share price target for 2024 to 2030 based on the company’s financials and various reports from research and brokerage firms.
Table of Contents
Introduction
India is on the road to being the 3rd largest economy in the world, so it’s obvious that infrastructure has to be improved in multiple times. While improving the infrastructure, wires and cables play an important role in development.
Recent News-
Paramount Communications Ltd. has planned to conduct a board meeting on December 18 in which board members will discuss the proposal for fund raising. The company has informed SEBI about the same.
Paramount Cables share price has risen from Rs 12.75 in December 2018 to Rs 78.60 per share in December 2023. Paracables has given almost a 500% return to its investors.
Foreign institutional investors (FII) have increased their stake in the company’s holdings.
Company overview-
Paramount Communication Limited (PARACABLES) is a wire and cable manufacturer. The company caters to a range of industries, including power, railways, telecom and IT, petrochemicals, defense, and space research programs.
The company has compounded sales growth by 13% over the past 5 years.
Over the last five years, the company’s profit has increased by 43%.
The company has grown at a 116% CAGR in the last 3 years.
The company’s return on equity (ROE) was 21% last year.
Financials
Paracables has a market cap of 2,425 crores. P/E Ratio is 25.27 while industry P/E is 55.22, debt to Equity Ratio is 0.16 and Return to Equity Ratio is 13.68%. Dividend Yield is 0.00%.
| Market Cap | 2,425 |
| P/E Ratio | 25.17 |
| Industry P/E | 55.22 |
| Debt to Equity | 0.16 |
| Return on Equity | 13.68% |
| Dividend | 0.00% |
Net-profit margin-
The company has increased their revenue and net-profit. Paracables has reported FY24 revenue is 1,079 crores and 86 crores profit. Paracables has reported the revenue Rs 813 Cr and net-profit Rs 48 Cr in FY23.
| Year | Revenue | Profit |
|---|---|---|
| 2024 | 1,079 | 86 |
| 2023 | 813 | 48 |
| 2022 | 585 | 8 |
| 2021 | 522 | 3 |
| 2020 | 609 | 26 |
| 2019 | 618 | 29 |
Share-holding patterns
- Promoters holdings has been significantly decreasing month on month.
- Foreign Institution is increasing their stake in this company.
- Retail participation has increased than previous years.
| Jun’24 | Mar’24 | Jan’24 | Dec’23 | Nov’23 | Oct’23 | Sep’23 | |
|---|---|---|---|---|---|---|---|
| Promoters | 49.31% | 49.31% | 49.60% | 53.51% | 53.51% | 61.09% | 62.69% |
| Retail | 43.58% | 43.71% | 43.36% | 38.89% | 38.79% | 38.20% | 36.58% |
| Foreign Institutions | 7.11% | 6.98% | 7.05% | 7.60% | 7.61% | 0.51% | 0.53% |
| Mutual Funds | 0.00% | 0.00% | 0.00% | 0.00% | 0.10% | 0.20% | 0.21% |
Share price targets for Paracables are highly speculative and influenced by numerous factors, such as market conditions, economic indicators, company performance, industry trends, and many more.
We will predict the Paracables share price target in 2024, 2025, 2026, 2027, 2028, 2029, and 2030 by analyzing the previous performance and after studying various brokerage and research firm forecasts.
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Paracables share price target: 2024
| 2024 | Minimum share price | Maximum share price |
|---|---|---|
| January 2024 | X | X |
| February 2024 | X | X |
| March 2024 | X | X |
| April 2024 | X | X |
| May 2024 | X | X |
| June 2024 | X | X |
| July 2024 | X | X |
| August 2024 | X | X |
| September 2024 | x | x |
| October 2024 | 65 | 98 |
| November 2024 | 85 | 104 |
| December 2024 | 94 | 128 |
The share price of Paracables is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 128 in December 2024 and a minimum price target of Rs 70 in February 2024. The average price target for Paracables in 2024 is expected to be around Rs. 105.
Paracables Share price target prediction for 2024 is based on the company’s financials, previous trends, and various brokerage firm reports.
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Paracables share price target: 2025
| 2025 | Minimum share price | Maximum share price |
|---|---|---|
| January 2025 | 116 | 132 |
| February 2025 | 115 | 145 |
| March 2025 | 135 | 154 |
| April 2025 | 144 | 158 |
| May 2025 | 157 | 165 |
| June 2025 | 165 | 172 |
| July 2025 | 155 | 185 |
| August 2025 | 172 | 196 |
| September 2025 | 186 | 208 |
| October 2025 | 195 | 215 |
| November 2025 | 198 | 224 |
| December 2025 | 205 | 232 |
The share price of Paracables is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs 232 in December 2025 and a minimum price target of Rs 115 in February 2025. The average price target for Paracables in 2025 is expected to be around Rs 158.
Paracables Share price target prediction for 2025 is based on the company’s financials, previous trends, and various brokerage firm reports.
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Paracables share price target: 2026
The share price of Paracables is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs. 442 in September 2026 and a minimum price target of Rs.350 in March 2026. The average price target for Paracables in 2026 is expected to be around Rs. 394.
| 2026 | Share Price Target |
|---|---|
| 1st price target | 442 |
| 2nd price target | 350 |
Paracables Share price target prediction for 2026 is based on the company’s financials, previous trends, and various brokerage firm reports.
Paracables share price target: 2027
The share price of Paracables is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs. 584 in December 2027 and a minimum price target of Rs. 385 in March 2027. The average price target for Paracables in 2027 is expected to be around Rs. 450.
| 2027 | Share Price Target |
|---|---|
| 1st price target | 584 |
| 2nd price target | 385 |
Paracables Share price target prediction for 2027 is based on the company’s financials, previous trends, and various brokerage firm reports.
Paracables share price target: 2028
The share price of Paracables is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs. 664 in December 2028 and a minimum price target of Rs. 486 in March 2028. The average price target for Paracables in 2028 is expected to be around Rs. 572.
| 2028 | Share Price Target |
|---|---|
| 1st price target | 664 |
| 2nd price target | 486 |
Paracables Share price target prediction for 2028 is based on the company’s financials, previous trends, and various brokerage firm reports.
Paracables share price target: 2029
The share price of Paracables is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs. 810 in December 2025 and a minimum price target of Rs. 628 in March 2029. The average price target for Paracables in 2029 is expected to be around Rs. 750.
| 2029 | Share Price Target |
|---|---|
| 1st price target | 810 |
| 2nd price target | 628 |
Paracables Share price target prediction for 2029 is based on the company’s financials, previous trends, and various brokerage firm reports.
Paracables share price target: 2030
The share price of Paracables is expected to continue experiencing volatility throughout the year, with a maximum price target of Rs.1037 in October 2030 and a minimum price target of Rs. 885 in May 2030. The average price target for Paracables in 2030 is expected to be around Rs. 885.
| 2030 | Share Price Target |
|---|---|
| 1st price target | 1037 |
| 2nd price target | 885 |
Paracables Share’s price target prediction for 2030 is based on the company’s financials, previous trends, and various brokerage firm reports.
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Strength of Paracables
The company has delivered good profit growth of 42.6% CAGR over the last 5 years.
Debtor days have improved from 102 days to 77.6 days.
Weaknesses of Paracables
The promoters have pledged 26.5% of their holding, which can have an adverse impact on the company’s financials.
The expenses of the company are increasing in parallel to its sales, which is a concerning point for the company.
The company is not paying out the dividend to its investors while reporting repeated profits.
Promoters has decreased their stake significantly month on month basis.
Competitor
| Company Name | Market Cap (Cr) | P/E Ratio |
|---|---|---|
| Polycab | 85119 | 52.95 |
| KEI Industries | 27757 | 52.54 |
| R R Kabel | 19243 | 103.33 |
| Finolex | 17214 | 30.36 |
Conclusion
Paramount Communication Limited has shown consistent performance for five years. The company has good financials, so it could be said that in the future, Prospect Company will grow multifold. The recent decision at the board meeting of directors will impact the future of this company. If the company raises funds and utilizes them to increase its work capacity, this will be a master stroke for its future.
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