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Last Updated: April 2, 2026, 3:27 am
Author: Getaka|Social: XLinkedIn

Panama Petrochem Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹239.84Fairly Valued by 6.31%vs CMP ₹256.00

P/E (8.3) × ROE (15.9%) × BV (₹222.00) × DY (1.96%)

₹330.62Undervalued by 29.15%vs CMP ₹256.00
MoS: +22.6% (Adequate)Confidence: 53/100 (Moderate)Models: 6 Under, 1 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹229.7222%Over (-10.3%)
Graham NumberEarnings₹391.5916%Under (+53%)
Earnings PowerEarnings₹270.6713%Fair (+5.7%)
DCFCash Flow₹303.6013%Under (+18.6%)
Net Asset ValueAssets₹221.757%Over (-13.4%)
EV/EBITDAEnterprise₹337.759%Under (+31.9%)
Earnings YieldEarnings₹307.007%Under (+19.9%)
ROCE CapitalReturns₹623.539%Under (+143.6%)
Revenue MultipleRevenue₹462.195%Under (+80.5%)
Consensus (9 models)₹330.62100%Undervalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -4.2%

*Investments are subject to market risks

Investment Snapshot

60
Panama Petrochem Ltd scores 60/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health87/100 · Strong
ROCE 20.4% ExcellentROE 15.9% GoodD/E 0.11 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money40/100 · Moderate
FII holding down -1.15% (6mo) SellingPromoter increased by 0.65% Positive
Earnings Quality40/100 · Moderate
OPM contracting (14% → 10%) Declining
Quarterly Momentum40/100 · Moderate
Revenue (4Q): 3% YoY FlatProfit (4Q): -8% YoY Declining
Industry Rank80/100 · Strong
P/E 8.3 vs industry 64.9 Cheaper than peersROCE 20.4% vs industry 13.0% Above peers3Y sales CAGR: 9% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:27 am

Market Cap 1,547 Cr.
Current Price 256
Intrinsic Value₹330.62
High / Low 411/229
Stock P/E8.33
Book Value 222
Dividend Yield1.96 %
ROCE20.4 %
ROE15.9 %
Face Value 2.00
PEG Ratio-1.98

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Panama Petrochem Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Panama Petrochem Ltd 1,547 Cr. 256 411/2298.33 2221.96 %20.4 %15.9 % 2.00
Camlin Fine Sciences Ltd 1,951 Cr. 102 335/96.2822 46.30.00 %11.0 %15.0 % 1.00
Thirumalai Chemicals Ltd 2,171 Cr. 180 329/158 1270.00 %0.26 %4.13 % 1.00
Rossari Biotech Ltd 2,239 Cr. 404 768/37316.3 2260.12 %15.8 %12.2 % 2.00
Fineotex Chemical Ltd 2,428 Cr. 20.8 35.8/19.025.0 6.720.38 %23.8 %18.4 % 1.00
Industry Average12,530.04 Cr712.4964.87182.870.55%12.98%25.40%6.41

All Competitor Stocks of Panama Petrochem Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 573510530574512741671699728695693773775
Expenses 505444471513456664605641665636638705714
Operating Profit 68665861567766586359556961
OPM % 12%13%11%11%11%10%10%8%9%9%8%9%8%
Other Income 1354252344433
Interest 3444454645332
Depreciation 2222233343333
Profit before tax 64635758527461535955536558
Tax % 21%19%19%20%20%17%18%16%18%20%19%18%21%
Net Profit 50514647416150444844435346
EPS in Rs 8.298.407.597.766.8410.088.297.298.027.327.058.767.57

Last Updated: March 3, 2026, 3:53 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 7:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 6358057528341,3261,2691,0031,4472,1322,2492,3572,7932,937
Expenses 6047737047591,2191,1699501,2571,8361,9402,1032,5462,693
Operating Profit 3132487510810053190296309254247244
OPM % 5%4%6%9%8%8%5%13%14%14%11%9%8%
Other Income 1124234667141214
Interest 68891425179712181813
Depreciation 2355567889101213
Profit before tax 23223766907232180286295241228230
Tax % 22%18%31%33%32%27%10%25%20%21%19%18%
Net Profit 18182544615229135230233195187186
EPS in Rs 2.922.934.167.2410.088.584.7622.3738.0838.5132.2630.9230.70
Dividend Payout % 26%46%8%9%12%14%25%9%21%21%22%10%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%38.89%76.00%38.64%-14.75%-44.23%365.52%70.37%1.30%-16.31%-4.10%
Change in YoY Net Profit Growth (%)0.00%38.89%37.11%-37.36%-53.39%-29.48%409.75%-295.15%-69.07%-17.61%12.21%

Panama Petrochem Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:13%
5 Years:23%
3 Years:9%
TTM:13%
Compounded Profit Growth
10 Years:27%
5 Years:45%
3 Years:-7%
TTM:-10%
Stock Price CAGR
10 Years:21%
5 Years:41%
3 Years:-2%
1 Year:-27%
Return on Equity
10 Years:20%
5 Years:23%
3 Years:20%
Last Year:16%

Last Updated: September 5, 2025, 12:05 pm

Balance Sheet

Last Updated: December 4, 2025, 1:46 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 8888121212121212121212
Reserves 2312412643053594024215497569401,0911,2431,328
Borrowings 17425733451605166300263331
Other Liabilities 205207162323559346273366455282281236262
Total Liabilities 4614984926699769197579931,2531,2351,4091,5241,633
Fixed Assets 77119123125134156173185230248287312310
CWIP 400041411172251311944
Investments 002100005421942
Other Assets 3453793665388287525677851,0139701,1201,1741,237
Total Assets 4614984926699769197579931,2531,2351,4091,5241,633

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 30-12185934-7817956170210-28162
Cash from Investing Activity + -36-13-12-21-14-22-20-15-111-7966-12
Cash from Financing Activity + -2311-2-36-681-136-1-67-96-40-78
Net Cash Flow -29-144214-192340-935-272
Free Cash Flow -8-2574115-10115931140175-63114
CFO/OP 106%-25%56%104%59%-58%348%50%78%88%7%82%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow14.00-10.00-9.0042.0063.00-60.002.00124.00266.00309.00228.00214.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 967975807790918254576366
Inventory Days 848693161145134111122108689365
Days Payable 123978516417311011211094554633
Cash Conversion Cycle 58688277491149094687010997
Working Capital Days 58526166516676736877107100
ROCE %12%11%15%22%27%20%9%34%41%35%24%20%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 69.87%69.87%69.25%67.30%65.83%61.94%61.94%61.94%61.94%62.22%62.51%63.16%
FIIs 3.20%3.45%5.83%8.31%10.03%14.88%14.71%15.77%12.44%12.07%12.02%11.29%
DIIs 0.00%0.00%0.04%0.01%0.01%0.26%0.06%0.05%0.29%0.35%0.47%0.67%
Public 26.93%26.69%24.89%24.36%24.10%22.92%23.28%22.24%25.32%25.36%24.99%24.86%
No. of Shareholders 24,14824,29126,45627,21826,63325,12527,27526,14525,41224,95225,95126,068

Shareholding Pattern Chart

No. of Shareholders

Panama Petrochem Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 30.9232.2638.5138.0822.37
Diluted EPS (Rs.) 30.9232.2638.5138.0822.37
Cash EPS (Rs.) 32.9633.8840.0739.4723.63
Book Value[Excl.RevalReserv]/Share (Rs.) 207.44182.27157.37126.9992.73
Book Value[Incl.RevalReserv]/Share (Rs.) 207.44182.27157.37126.9992.73
Revenue From Operations / Share (Rs.) 461.63389.54371.69352.49239.19
PBDIT / Share (Rs.) 42.8044.3952.1649.8832.41
PBIT / Share (Rs.) 40.7542.7750.6048.4931.15
PBT / Share (Rs.) 37.7539.8048.6947.3229.67
Net Profit / Share (Rs.) 30.9132.2638.5138.0822.37
NP After MI And SOA / Share (Rs.) 30.9132.2638.5138.0822.37
PBDIT Margin (%) 9.2711.3914.0314.1413.55
PBIT Margin (%) 8.8210.9713.6113.7513.02
PBT Margin (%) 8.1710.2113.0913.4212.40
Net Profit Margin (%) 6.698.2810.3610.809.35
NP After MI And SOA Margin (%) 6.698.2810.3610.809.35
Return on Networth / Equity (%) 14.9017.6924.4629.9824.12
Return on Capital Employeed (%) 18.9923.1731.7837.7332.98
Return On Assets (%) 12.2713.8418.8618.3813.63
Total Debt / Equity (X) 0.000.020.000.030.11
Asset Turnover Ratio (%) 1.901.781.491.481.53
Current Ratio (X) 5.183.813.562.131.86
Quick Ratio (X) 3.372.132.371.100.99
Inventory Turnover Ratio (X) 6.205.783.402.833.49
Dividend Payout Ratio (NP) (%) 19.4024.7923.3610.500.00
Dividend Payout Ratio (CP) (%) 18.2023.6022.4510.130.00
Earning Retention Ratio (%) 80.6075.2176.6489.500.00
Cash Earning Retention Ratio (%) 81.8076.4077.5589.870.00
Interest Coverage Ratio (X) 14.2614.9527.2742.7521.92
Interest Coverage Ratio (Post Tax) (X) 11.3011.8721.1433.6416.13
Enterprise Value (Cr.) 2124.061894.571541.821494.48870.27
EV / Net Operating Revenue (X) 0.760.800.680.700.60
EV / EBITDA (X) 8.207.054.894.954.44
MarketCap / Net Operating Revenue (X) 0.820.840.780.750.60
Retention Ratios (%) 80.5975.2076.6389.490.00
Price / BV (X) 1.841.821.852.091.57
Price / Net Operating Revenue (X) 0.820.840.780.750.60
EarningsYield 0.080.090.130.140.15

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Panama Petrochem Ltd. is a Public Limited Listed company incorporated on 09/03/1982 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L23209GJ1982PLC005062 and registration number is 005062. Currently Company is involved in the business activities of Manufacture of refined petroleum products. Company's Total Operating Revenue is Rs. 1775.72 Cr. and Equity Capital is Rs. 12.10 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
LubricantsPlot No. 3303, Ankleshwar Gujarat 393002Contact not found
Management
NamePosition Held
Mr. Amirali E RayaniExecutive Chairman
Mr. Samir A RayaniManaging Director & CEO
Mr. Hussein V RayaniJoint Managing Director
Mr. Arif A RayaniExecutive Director
Mr. Kumar Raju NandimandalamInd. Non-Executive Director
Mr. Ashok MukhiInd. Non-Executive Director
Mr. Arvind ShahInd. Non-Executive Director
Ms. Almas NandaInd. Non-Executive Director

FAQ

What is the intrinsic value of Panama Petrochem Ltd and is it undervalued?

As of 10 April 2026, Panama Petrochem Ltd's intrinsic value is ₹330.62, which is 29.15% higher than the current market price of ₹256.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (15.9 %), book value (₹222), dividend yield (1.96 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Panama Petrochem Ltd?

Panama Petrochem Ltd is trading at ₹256.00 as of 10 April 2026, with a FY2026-2027 high of ₹411 and low of ₹229. The stock is currently near its 52-week low. Market cap stands at ₹1,547 Cr..

How does Panama Petrochem Ltd's P/E ratio compare to its industry?

Panama Petrochem Ltd has a P/E ratio of 8.33, which is below the industry average of 64.87. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Panama Petrochem Ltd financially healthy?

Key indicators for Panama Petrochem Ltd: ROCE of 20.4 % indicates efficient capital utilization; ROE of 15.9 % shows strong shareholder returns. Dividend yield is 1.96 %.

Is Panama Petrochem Ltd profitable and how is the profit trend?

Panama Petrochem Ltd reported a net profit of ₹187 Cr in Mar 2025 on revenue of ₹2,793 Cr. Compared to ₹230 Cr in Mar 2022, the net profit shows a declining trend.

Does Panama Petrochem Ltd pay dividends?

Panama Petrochem Ltd has a dividend yield of 1.96 % at the current price of ₹256.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Panama Petrochem Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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