Paramount Communications Ltd has issued a corrigendum to its Extraordinary General Meeting (EGM) notice regarding a proposed preferential issue of equity shares and warrants. The update incorporates observations received from the National Stock Exchange of India Limited (NSE) and revises details concerning the explanatory statement for the proposed issuance. The EGM is scheduled to be held on June 06, 2026, at 12:30 P.M. IST via video conferencing.

The company seeks shareholder approval for the preferential issue of 2,19,97,664 equity shares and 72,00,000 unlisted convertible warrants. The corrigendum was electronically dispatched on June 01, 2026, to members registered as of May 30, 2026. It provides modifications to the explanatory statement of Item No. 1 and 2 of the EGM Notice, pursuant to the observations received from the NSE and in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Regarding the deployment of funds, the company stated that pending complete utilization for the specified objects, it intends to invest the proceeds in deposits with scheduled commercial banks, securities issued by the government of India, money market instruments, or other permitted investments. The company's Board has formulated policies to provide flexibility in this regard.

The shareholding pattern table has been updated to reflect the status before and after the allotment, assuming the conversion of all warrants into equity shares. The total number of shares post-issue is projected to be 33,46,65,035, including 2,57,557 outstanding ESOPs. Promoter holding is expected to adjust to 47.01%, while non-promoters' holding is projected at 52.99%.

Additionally, the company updated disclosures regarding the ultimate beneficial owners of select proposed allottees. Abakkus Diversified Alpha Fund and Abakkus Diversified Alpha Fund-2 are identified as key investors, with specific post-issue shareholdings of 1.92% and 1.64% respectively. Singularity Equity Fund II is also listed with a 0.36% stake post-issue.

Shareholding Pattern

Key Allottee Details

Paramount Communications Limited reported a strong sequential recovery in Q4 FY26, with revenue growing 13.6% year-on-year and 24.5% quarter-on-quarter to INR 573 crores. The company attributed this performance to a strategic pivot towards domestic demand, which accelerated despite significant disruptions in its export business. Profit after tax for the quarter stood at INR 20.5 crore, marking a 175% increase from the previous quarter, while EBITDA margins recovered to 6.7%.

For the full financial year FY26, revenue from operations grew approximately 23% year-on-year to INR 1,912 crores compared to INR 1,557 crores in FY25. EBITDA, including other income, was INR 117.5 crores with a margin of 6%, while profit after tax was INR 60 crores. The company noted that absolute EBITDA and PAT declined due to reciprocal tariffs imposed by the U.S., which disrupted export volumes. However, the domestic business grew 27% to INR 1,361 crore, increasing its share of total revenue to 71%.

Financial Performance

Operational Highlights

Metal throughput for FY26 reached 29,664 metric tons, an increase of roughly 12% year-on-year. The order book as of March 31, 2026, stood at INR 583 crores, comprising INR 508 crores of domestic orders and INR 76 crores of exports. Management highlighted that power cable orders reached a record INR 466 crores, up 66% year-on-year. The company’s existing plants at Dharuhera and Kushkhara are operating at optimal utilization, prompting the acceleration of a new greenfield project at Narmadapuram.

Strategic Outlook

The Narmadapuram facility, slated to commence operations in Q1 FY28, involves an investment of approximately INR 300 crores. Management targets sales of INR 500 crores from this plant in FY28, scaling up to INR 1,200 crores in FY29, with a focus on extra high voltage cables and specialized conductors. Looking ahead, the company aims to achieve a revenue milestone of INR 5,000 crores by FY31, driven by capacity expansion, deeper domestic penetration, and export diversification.