Paramount Syntex PAT Margin Reaches 11.36% as Growth Slows

Paramount Syntex Limited reported a profit after tax (PAT) margin of 11.36% for the year ended March 31, 2026, up from 1.45% in FY24, while revenue growth slowed to 8.55% from 21.17% in FY25. Its earnings before interest, tax, depreciation and amortisation (EBITDA) margin rose to 19.33% from 10.19% over the same two-year period.

How did Paramount Syntex’s revenue growth change in FY26?

Paramount Syntex’s revenue from operations rose to Rs 122.03 crore in FY26, but its growth rate moderated to 8.55%. Revenue was Rs 112.42 crore in FY25 and Rs 92.78 crore in FY24; FY25 revenue growth had been 21.17%, compared with 13.22% in FY24.

The FY26 revenue increase was Rs 9.61 crore, less than the Rs 19.64 crore increase recorded in FY25. Paramount Syntex defines revenue from operations as the total revenue generated by the company and calculates revenue growth as the year-on-year percentage change in that measure.

Revenue still increased by Rs 29.25 crore between FY24 and FY26, equivalent to growth of about 31.5% across the two financial years. However, the reported annual rate changed materially: FY26 growth of 8.55% was 12.62 percentage points below FY25’s 21.17%.

Was Paramount Syntex’s FY26 PAT margin increase matched by operating margins?

Yes. Paramount Syntex’s FY26 PAT margin expansion was accompanied by a larger EBITDA margin. EBITDA margin rose to 19.33% in FY26 from 11.71% in FY25 and 10.19% in FY24, while PAT margin increased to 11.36% from 5.99% and 1.45%, respectively.

EBITDA increased to Rs 23.59 crore in FY26 from Rs 13.17 crore in FY25 and Rs 9.45 crore in FY24. PAT increased to Rs 13.87 crore from Rs 6.73 crore and Rs 1.35 crore over the same three years, meaning FY26 PAT rose by Rs 7.14 crore while revenue rose by Rs 9.61 crore.

Paramount Syntex calculates EBITDA as profit before tax plus depreciation and interest expenses, less other income. It defines EBITDA margin as EBITDA divided by revenue from operations and PAT margin as PAT divided by revenue from operations; under those definitions, the FY26 increases show EBITDA and PAT represented larger portions of reported revenue.

What do Paramount Syntex’s returns and capital ratios show?

Paramount Syntex reported higher return measures in FY26 alongside a lower debt-equity ratio. Return on net worth (RONW) was 32.50% in FY26, compared with 23.36% in FY25 and 9.59% in FY24, while return on capital employed (ROCE) rose to 29.18% from 19.19% and 17.06%.

Net worth increased to Rs 42.67 crore in FY26 from Rs 28.80 crore in FY25 and Rs 14.05 crore in FY24. The debt-equity ratio, defined as total debt divided by net worth, declined to 0.78 in FY26 from 1.16 in FY25 and 2.32 in FY24.

The current ratio rose to 1.73 in FY26 from 1.59 in FY25 and 1.25 in FY24. Paramount Syntex defines the current ratio as current assets divided by current liabilities, while it calculates ROCE as earnings before interest and tax divided by capital employed, defined as shareholders’ equity plus total debt.

Earnings per share (EPS) also rose to Rs 11.60 in FY26 from Rs 5.69 in FY25 and Rs 1.27 in FY24. The prospectus reports both basic and diluted EPS at Rs 11.60 for FY26, calculated using the weighted average number of equity shares outstanding during the year.

How did Paramount Syntex’s FY26 margins compare with disclosed peers?

Paramount Syntex reported the highest FY26 PAT margin among the four companies in its disclosed comparison table. Its 11.36% PAT margin exceeded Donear Industries Limited’s 4.76%, Shiva Texyarn Limited’s 2.86% and Sangam (India) Limited’s 2.68%.

Paramount Syntex’s EBITDA margin of 19.33% was also above Donear Industries’ 9.61%, Shiva Texyarn’s 10.12% and Sangam (India)’s 6.84%. The comparison table uses standalone FY26 figures for each company and defines EBITDA margin as EBITDA divided by revenue from operations.

The companies differ substantially in reported revenue scale. Paramount Syntex recorded FY26 revenue of Rs 122.03 crore, compared with Rs 912.47 crore for Donear Industries, Rs 340.52 crore for Shiva Texyarn and Rs 3,201.39 crore for Sangam (India).

The prospectus says the peer companies are not strictly comparable because their business nature and turnover differ, and presents them for broader comparison. In FY26, Paramount Syntex’s EBITDA margin increased by 7.62 percentage points from FY25, while Shiva Texyarn’s fell by 0.37 percentage points, Sangam (India)’s fell by 0.84 percentage points and Donear Industries’ rose by 0.56 percentage points.

What measures could affect Paramount Syntex’s future reported margins?

Paramount Syntex’s reported margin measures depend on both earnings and revenue from operations. Because EBITDA margin is EBITDA divided by revenue and PAT margin is PAT divided by revenue, changes in operating profit, PAT or the revenue base would change the percentages from the FY26 levels of 19.33% and 11.36%.

Working capital increased to Rs 34.30 crore in FY26 from Rs 33.03 crore in FY25 and Rs 9.54 crore in FY24. At the same time, net capital turnover, defined as revenue from operations divided by working capital, declined to 3.56 in FY26 from 4.88 in FY25 and 9.72 in FY24.

Trade receivables turnover declined to 5.24 in FY26 from 6.66 in FY25 and 8.80 in FY24. Paramount Syntex defines this ratio as revenue from operations divided by average debtors, so the reported decline occurred as FY26 revenue reached Rs 122.03 crore and working capital remained above Rs 34 crore.

Paramount Syntex states that management monitors revenue growth, EBITDA margin, PAT margin and selected balance-sheet ratios periodically. Its Audit Committee approved the KPI disclosures on September 15, 2026, and the company says it will continue disclosing the listed KPIs at least annually for one year after listing or until issue proceeds are fully utilised, whichever is later.

Conclusion

Paramount Syntex’s FY26 figures show that profitability increased faster than revenue: revenue growth moderated to 8.55%, while EBITDA margin rose by 7.62 percentage points to 19.33% and PAT margin rose by 5.37 percentage points to 11.36%. Over FY24 to FY26, PAT increased from Rs 1.35 crore to Rs 13.87 crore, while the debt-equity ratio declined from 2.32 to 0.78.

The next reported disclosures to watch are revenue growth, EBITDA margin, PAT margin, working capital and turnover ratios, all of which Paramount Syntex identifies as monitored KPIs. The company’s stated plan to disclose these KPIs at least annually after listing, or until issue proceeds are fully utilised if later, provides the subsequent reporting framework for assessing whether FY26 levels persist.