In this article, we present a multibagger cable stock, Paramount Communications Ltd which gave multibagger returns of over 2,700% in a decade.
There is need for companies to start adopting values from other markets as evidenced by paramount communications Ltd which has proved to be excellent in the stock market for the last decade with its rates having shoot up by 2,700%. The company has recently posted a remarkable stock growth owing to its sound internal environment that dictates strategic development.
On Monday, The stock prices of Paramount was at ₹82. 69, marking a 3. Mortgage REITS have also increased by a margin of 7% from its previous closing price. 52 wk High: 116 The stock has a value of ₹116 as its high for the 52 weeks period. 70, for instance, has been active demonstrating the high investor interest in the shares. Since then, Paramount has developed a strong clientele and some of its clients include bigshots that include Indian Railways, Tata Steels, ISRO, and NTPC among others.
**Stellar Financial Performance**
Basically, Paramount had been having a good financial status. In the Q1FY25 the organization said to have a 52 %. 5 % increase in net sales to ₹ 321 and ₹342 increase in operating profit than the previous year. 6 crore and a 74 of efficiency respectively Among the two, Lufthansa has achieved better results with an investment of 08 crore and an efficiency of 76. The annual PAT of the firm would now be of ₹25 after a .01 rise in the numbers. 30 crore. The net sales for the company increased to 32% for the FY24 as compared with the FY23. 7% to ₹1,078. 17 per cent YoY to Rs.58.57 crore, while the PAT increased to 79. 3% to ₹85. 63 crore.
**Strong Order Book and Future Prospects**
The company has healthy order book of ₹555 crore it seems that the company has a good order book with customer. 80 crore, which was a testimony of its strong demand in all the sectors and across all the product segments especially power and railway cable. Another improvement by Paramount is its intention to float ₹400 crore through equity and debenture, with an aim to achieve the debt-free position by FY,25. This financial restructuring will only boost up its balance sheet and put the company for steady and strategic growth in the future.
**Investor Confidence**
The market believes in Paramount Communications and this has been evident by the fact that the FIIs have bought stakes up to 7%. 10 % as of June 2024. The share of the company has also gone multibagger where it has given 460% returns in merely two years and 850 % returns in five years.
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**Conclusion**
Such multibagger stocks are best exemplified by Paramount Communications Ltd which has remained a spectacular beacon of multibagger stock of high returns. Well capitalised, with a healthy order book and clear growth ambitions, the company remains very well placed. The investors should take note of this stock due its long-term possible future returns.
*Disclaimer: Please remember this article is for information purpose only and should not be viewed as an investment advice. *(alert-warning)
