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Pansari Developers Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹243.89Overvalued by 12.58%vs CMP ₹279.00

P/E (24.5) × ROE (13.8%) × BV (₹88.40) × DY (2.00%)

₹165.89Overvalued by 40.54%vs CMP ₹279.00
MoS: -68.2% (Negative)Confidence: 59/100 (Moderate)Models: 1 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹331.9326%Under (+19%)
Graham NumberEarnings₹139.3319%Over (-50.1%)
DCFCash Flow₹181.0813%Over (-35.1%)
Net Asset ValueAssets₹76.778%Over (-72.5%)
EV/EBITDAEnterprise₹33.8011%Over (-87.9%)
Earnings YieldEarnings₹97.608%Over (-65%)
ROCE CapitalReturns₹113.768%Over (-59.2%)
Revenue MultipleRevenue₹22.926%Over (-91.8%)
Consensus (8 models)₹165.89100%Overvalued
Key Drivers: EPS CAGR 36.1% lifts DCF — verify sustainability. | Wide model spread (₹23–₹332) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 36.1%

*Investments are subject to market risks

Analyst Summary

Pansari Developers Ltd operates in the Project Consultancy/Turnkey segment, current market price is ₹279.00, market cap is 487 Cr.. At a glance, stock P/E is 24.5, ROE is 13.8 %, ROCE is 12.5 %, book value is 88.4, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹165.89, around 40.5% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹40 Cr versus the prior period change of -28.6%, while latest net profit is about ₹8 Cr with a prior-period change of 60.0%. The 52-week range shown on this page is 352/218, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisPansari Developers Ltd. is a Public Limited Listed company incorporated on 22/04/1996 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) i…

This summary is generated from the stock page data available for Pansari Developers Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

65
Pansari Developers Ltd scores 65/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health69/100 · Strong
ROCE 12.5% GoodROE 13.8% GoodD/E 0.93 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 73.9% Stable
Earnings Quality55/100 · Moderate
OPM expanding (17% → 23%) ImprovingWorking capital: 296 days Capital intensive
Quarterly Momentum80/100 · Strong
Revenue (4Q): +42% YoY AcceleratingProfit (4Q): +158% YoY StrongOPM: 14.7% (down 12.8% YoY) Margin pressure
Industry Rank65/100 · Strong
P/E 24.5 vs industry 44.9 Cheaper than peersROCE 12.5% vs industry 12.7% AverageROE 13.8% vs industry 11.0% Above peers3Y sales CAGR: -13% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: June 12, 2026, 7:15 am

Market Cap 487 Cr.
Current Price 279
Intrinsic Value₹165.89
High / Low 352/218
Stock P/E24.5
Book Value 88.4
Dividend Yield0.00 %
ROCE12.5 %
ROE13.8 %
Face Value 10.0
PEG Ratio0.68

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

View Share Price Target for Pansari Developers Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Pansari Developers Ltd 487 Cr. 279 352/21824.5 88.40.00 %12.5 %13.8 % 10.0
Zodiac Energy Ltd 401 Cr. 265 507/20419.0 77.30.28 %15.9 %19.8 % 10.0
HEC Infra Projects Ltd 126 Cr. 116 184/92.110.0 60.70.00 %21.4 %21.2 % 10.0
Reliance Industrial Infrastructure Ltd 1,166 Cr. 772 999/617113 2830.45 %3.33 %2.44 % 10.0
Power Mech Projects Ltd 8,215 Cr. 2,598 3,415/1,71822.6 7970.05 %21.8 %15.6 % 10.0
Industry Average3,338.67 Cr399.3844.87133.820.77%12.69%10.95%10.00

All Competitor Stocks of Pansari Developers Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 5.448.584.558.046.0130.2212.227.6321.3018.6817.7427.5737.21
Expenses 4.227.423.366.044.7126.9411.485.2915.4511.9312.1023.5331.75
Operating Profit 1.221.161.192.001.303.280.742.345.856.755.644.045.46
OPM % 22.43%13.52%26.15%24.88%21.63%10.85%6.06%30.67%27.46%36.13%31.79%14.65%14.67%
Other Income 0.040.160.540.601.331.092.170.842.582.291.172.101.51
Interest 0.090.060.551.111.221.260.801.002.791.470.850.590.68
Depreciation 0.460.480.500.440.450.450.590.992.970.210.710.590.56
Profit before tax 0.710.780.681.050.962.661.521.192.677.365.254.965.73
Tax % 35.21%23.08%29.41%20.95%14.58%22.56%1.97%21.01%21.35%26.90%20.95%34.48%26.00%
Net Profit 0.460.610.480.830.822.071.490.942.115.394.143.264.24
EPS in Rs 0.260.350.280.480.471.190.850.541.213.092.371.872.43

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

Quarterly Chart

Profit & Loss - Annual Report

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

MetricMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1073610353660235640101
Expenses 6413828275318492779
Operating Profit 43232798571322
OPM % 43%45%58%55%18%21%25%13%20%13%32%22%
Other Income 211341101557
Interest 111223411444
Depreciation 000111122232
Profit before tax 63242455361023
Tax % 9%19%24%22%21%27%24%25%26%16%25%
Net Profit 5313234425817
EPS in Rs 23.6012.360.711.851.121.582.162.091.152.994.309.76
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-40.00%-66.67%200.00%-33.33%50.00%33.33%0.00%-50.00%150.00%60.00%
Change in YoY Net Profit Growth (%)0.00%-26.67%266.67%-233.33%83.33%-16.67%-33.33%-50.00%200.00%-90.00%

Pansari Developers Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2015-2016 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:15%
5 Years:3%
3 Years:-13%
TTM:-29%
Compounded Profit Growth
10 Years:4%
5 Years:25%
3 Years:27%
TTM:47%
Stock Price CAGR
10 Years:%
5 Years:66%
3 Years:31%
1 Year:107%
Return on Equity
10 Years:4%
5 Years:4%
3 Years:4%
Last Year:6%

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

Balance Sheet

Last Updated: May 6, 2026, 4:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Equity Capital 22171717171717171717
Reserves 38383538404293102104109117
Borrowings 10175964707462548186101
Other Liabilities 547174829674734784114175
Total Liabilities 104129185201223208246220287327411
Fixed Assets 11122325327775749392
CWIP 00000000000
Investments 1111000139999
Other Assets 92116173178198175166137203225310
Total Assets 104129185201223208246220287327411

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 1-15-299452010-2211-16-9
Cash from Investing Activity + -09-22-11-4-5-40-5-10515
Cash from Financing Activity + -17512-10-15-1127011-5
Net Cash Flow 11-100-01-1-02-01
Free Cash Flow 1-16-29-54-61910-23-0-18-13
CFO/OP 109%-510%-1,686%286%283%79%228%144%-438%167%-110%-21%

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-6.00-14.00-57.00-61.00-68.00-67.00-53.00-46.00-76.00-79.00-88.00

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 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 76.00216.88962.84241.71247.8139.3359.1513.6958.5493.0164.29
Inventory Days 1,917.04764.30
Days Payable 24.349.54
Cash Conversion Cycle 76.00216.88962.84241.71247.8139.331,951.85768.4558.5493.0164.29
Working Capital Days 1,953.242,873.055,096.162,451.152,086.23552.95501.50239.78583.90132.67296.42
ROCE %7.44%3.09%5.12%3.67%4.86%5.61%3.60%1.81%5.03%6.38%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 73.88%73.88%73.88%73.88%73.88%73.88%73.88%73.88%73.88%73.88%73.88%73.88%
Public 26.12%26.12%26.12%26.12%26.12%26.12%26.12%26.12%26.12%26.12%26.12%26.12%
No. of Shareholders 8558459551,1791,3871,4381,1771,1461,2871,1691,1431,169

Shareholding Pattern Chart

No. of Shareholders

Pansari Developers 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 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 4.302.981.152.092.14
Diluted EPS (Rs.) 4.302.981.152.092.14
Cash EPS (Rs.) 6.124.092.223.132.82
Book Value[Excl.RevalReserv]/Share (Rs.) 52.4848.1344.7768.4136.47
Book Value[Incl.RevalReserv]/Share (Rs.) 76.9472.5969.5968.4136.47
Revenue From Operations / Share (Rs.) 22.9132.3813.2934.5320.69
PBDIT / Share (Rs.) 10.017.173.084.625.59
PBIT / Share (Rs.) 8.206.072.013.584.91
PBT / Share (Rs.) 5.753.551.562.792.83
Net Profit / Share (Rs.) 4.302.981.152.092.14
NP After MI And SOA / Share (Rs.) 4.302.981.152.092.14
PBDIT Margin (%) 43.7022.1323.1413.3827.03
PBIT Margin (%) 35.7618.7315.1210.3523.73
PBT Margin (%) 25.1110.9611.718.0613.65
Net Profit Margin (%) 18.769.218.676.0410.32
NP After MI And SOA Margin (%) 18.769.218.676.0410.32
Return on Networth / Equity (%) 8.196.202.573.055.85
Return on Capital Employeed (%) 9.717.492.414.6410.14
Return On Assets (%) 1.821.590.701.651.87
Long Term Debt / Equity (X) 0.000.000.120.000.18
Total Debt / Equity (X) 1.101.031.040.450.93
Asset Turnover Ratio (%) 0.100.180.090.180.14
Current Ratio (X) 1.131.121.341.471.37
Quick Ratio (X) 0.510.530.470.270.20
Inventory Turnover Ratio (X) 0.290.000.000.000.00
Interest Coverage Ratio (X) 4.102.856.785.852.68
Interest Coverage Ratio (Post Tax) (X) 2.762.193.543.642.02
Enterprise Value (Cr.) 378.17222.71221.40281.62148.10
EV / Net Operating Revenue (X) 9.463.949.554.674.10
EV / EBITDA (X) 21.6417.8141.2634.9215.17
MarketCap / Net Operating Revenue (X) 6.992.466.073.792.51
Price / BV (X) 3.051.661.801.911.43
Price / Net Operating Revenue (X) 6.992.466.073.792.51
EarningsYield 0.020.030.010.010.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Pansari Developers Ltd. is a Public Limited Listed company incorporated on 22/04/1996 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L72200WB1996PLC079438 and registration number is 079438. Currently company belongs to the Industry of Project Consultancy/Turnkey. Company's Total Operating Revenue is Rs. 96.09 Cr. and Equity Capital is Rs. 17.45 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Project Consultancy/Turnkey14, N.S. Road, 4th Floor, Kolkata West Bengal 700001Contact not found
Management
NamePosition Held
Mr. Mahesh Kumar AgarwalManaging Director
Mr. Ankit AgarwalWhole Time Director
Mr. Manoj AgarwalInd. Non-Executive Director
Mr. Debasish BalInd. Non-Executive Director
Mrs. Garima AgarwalInd. Non-Executive Director
Ms. Shreya AgarwalNon Executive Director

FAQ

What is the intrinsic value of Pansari Developers Ltd and is it undervalued?

As of 14 June 2026, Pansari Developers Ltd's intrinsic value is ₹165.89, which is 40.54% lower than the current market price of ₹279.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.8 %), book value (₹88.4), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Pansari Developers Ltd?

Pansari Developers Ltd is trading at ₹279.00 as of 14 June 2026, with a FY2026-2027 high of ₹352 and low of ₹218. The stock is currently in the middle of its 52-week range. Market cap stands at ₹487 Cr..

How does Pansari Developers Ltd's P/E ratio compare to its industry?

Pansari Developers Ltd has a P/E ratio of 24.5, which is below the industry average of 44.87. This is broadly in line with or below the industry average.

Is Pansari Developers Ltd financially healthy?

Key indicators for Pansari Developers Ltd: ROCE of 12.5 % is moderate. Dividend yield is 0.00 %.

Is Pansari Developers Ltd profitable and how is the profit trend?

Pansari Developers Ltd reported a net profit of ₹8 Cr in Mar 2025 on revenue of ₹40 Cr. Compared to ₹4 Cr in Mar 2022, the net profit shows an improving trend.

Does Pansari Developers Ltd pay dividends?

Pansari Developers Ltd has a dividend yield of 0.00 % at the current price of ₹279.00. The company is currently not paying meaningful dividends.

Last Updated: June 12, 2026, 7:15 am
Author: Getaka|Social: XLinkedIn
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 Pansari Developers 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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