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Panama Petrochem Ltd (PANAMAPET)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524820 NSE: PANAMAPET Lubricants | Small Cap | Panama Petrochem Share Price

₹480.10 -1.00 (-0.21%)

As on 23-Sep'26 13:26

Panama Petrochem Ltd (PANAMAPET)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 524820 NSE: PANAMAPET Lubricants | Small Cap | Panama Petrochem Share Price

₹480.10 -1.00 (-0.21%)

As on 23-Sep'26 13:26

Key Metrics
Valuation Multiples
Market Cap
₹2,910 Cr.
Current Price
₹480.1
52-Week Low / High
₹229 / 600
TTM EPS
₹79.2
TTM Sales
₹4,106 Cr.
Book Value per Share
₹293.9
P/E Ratio
6.08
Lower than its 5-year historical median
Industry PE
14.1
Price to Book (P/B)
1.64
Lower than its 5-year historical median
Price to Sales (P/S)
0.71
Lower than its 5-year historical median
EV/EBITDA
4.68
Lower than its 5-year historical median
Dividend Yield
0.62%
Profitability Efficiency
Return on Equity (ROE)
15.60%
In line with industry median
Return on Capital Employed (ROCE)
19.58%
Underperforms industry median
Return on Assets (ROA)
11.72%
Operating Profit Margin
9%
Net Profit Margin
6.93%
Gross Profit Margin
9%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
10.48%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
11.73%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
13.62%
Asset Quality
Promoter Holding
63.16%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,765 Cr.
Equity
₹12.1 Cr.
Face Value
₹2
All Time Low / High
₹0.14 / 600.00

Panama Petrochem stock performance

Key Ratios
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Check Before You Invest

Quality

Very Good
Check detailed performance

Valuation

Fair

Check Valuation charts

Price Trend

Semi Strong
Check Price chart
Q.1 Is Panama Petrochem Ltd a good quality company?
Panama Petrochem Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

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We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

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How does Panama Petrochem Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Panama Petrochem Ltd vs industry peers?
Panama Petrochem Ltd revenue CAGR is 16.19%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Panama Petrochem Ltd?
Promoters hold 63.16% of the Panama Petrochem Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Panama Petrochem Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 26.3% based on the current price.
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10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Panama Petrochem Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % ⓘ23.5%27.9%18.1%8.1%39%40.2%35.6%23.4%19%19.8%-
Value Creation
Index ⓘ		0.71.00.3-0.41.81.91.50.70.40.4-

Growth Parameters ⓘ
Sales ⓘ7251,1701,0788131,2021,5401,7081,7251,7761,9622,786
Sales YoY Gr.-61.3%-7.9%-24.6%47.8%28.1%11%1%3%10.5%-
Adj EPS ⓘ6.69.17.73.220.428.431.221.419.823.754.9
YoY Gr.-38.2%-15.3%-58.3%534%39.7%9.9%-31.4%-7.5%19.5%-
BVPS (₹) ⓘ48.756.861.763.282.5106.8127.4141.4154.2174.1210.1
Adj Net
Profit ⓘ		39.85546.619.4123172189130120143332
Cash Flow from Ops. ⓘ3628.7-47.416630.9151144-32.177.714.6-
Debt/CF from Ops. ⓘ0.41-2.200.300-0.803.6-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ11.7%10.3%4.7%10.5%
Adj EPS ⓘ15.3%3.1%-8.8%19.5%
BVPSⓘ15.2%16.1%11%12.9%
Share Price 26.2% 11.8% 14.7% 65.6%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		14.517.2135.127.930.126.715.913.414.428.6
Op. Profit
Mgn % ⓘ		9.68.48.44.714.415.115.5119.810.116.2
Net Profit
Mgn % ⓘ		5.54.74.32.410.211.211.17.56.87.311.9
Debt to
Equity ⓘ		00.10.30000000.1-
Working Cap
Days ⓘ		17618924525717318217918418418478
Cash Conv.
Cycle ⓘ		453767955550538410310757

Valuation of Panama Petrochem - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales8341,3261,2691,0031,4472,1322,2492,3572,7933,064
Operating Expenses ⓘ + 7591,2191,1699501,2571,8361,9402,1032,5462,789
Manufacturing Costs20242830353633353741
Material Costs6861,1231,0448361,0911,6311,7311,9372,3072,504
Employee Cost 78910262424152839
Other Costs ⓘ 45648973106145152116174204
Operating Profit ⓘ 7510810053190296309254247276
Operating Profit Margin (%) 9.0%8.1%7.9%5.3%13.1%13.9%13.7%10.8%8.8%9.0%
Other Income ⓘ + 4234667141213
Exceptional Items ⓘ 0000000000
Interest ⓘ 91425179712181812
Depreciation ⓘ 5567889101214
Profit Before Tax ⓘ 66907232180286295241228263
Tax ⓘ 2229203445662464150
Profit After Tax 44615229135230233195187213
PAT Margin (%) 5.3%4.6%4.1%2.9%9.4%10.8%10.4%8.3%6.7%6.9%
Adjusted EPS (₹)7.210.18.64.822.438.138.532.330.935.1
Dividend Payout Ratio (%)9.20%11.90%14%25.20%8.90%21%20.80%21.70%16.20%8.50%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 3133724144335617689521,1031,2551,469
Share Capital ⓘ 8121212121212121212
Reserves ⓘ 3053594024215497569401,0911,2431,457
Debt +3345160506530025278
Long Term Debt0000000000
Short Term Debt3345160506530025278
Minority Interest0000000000
Trade Payables308533315257328428261245211294
Others Liabilities ⓘ 47899890132160210211124193
Total Liabilities ⓘ 7011,0389878291,0871,3861,4221,5841,5922,034

Fixed Assets

Net Fixed Assets ⓘ +125128146162175214232265284285
Gross Block152159182205225271297338369382
Accumulated Depreciation26313643505765738497
CWIP ⓘ 41411172251311948
Investments ⓘ 100005421949
Inventories302445384254365491324492409669
Trade Receivables183280314251323317349406503574
Cash Equivalents 233416417513922213318282
Others Assets ⓘ 62135116104126214278285175327
Total Assets ⓘ 7011,0389878291,0871,3861,4221,5841,5922,034
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity ⓘ + 5934-7817956170210-28162-69
PBT ⓘ 66907232180286295241228263
Adjustment ⓘ 10262026121615192632
Changes in Working Capital ⓘ 2-52-150127-96-73-39-243-53-320
Tax Paid ⓘ -19-30-20-6-39-59-61-45-39-44
Cash Flow From Investing Activity ⓘ + -21-14-22-21-14-111-7967-12-72
Capex -18-18-23-20-25-30-35-35-27-54
Net Investments -43-1-26-78-49933-28
Others ⓘ 11214-3591211
Cash Flow From Financing Activity ⓘ + -36-681-136-1-67-96-40-7845
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 0000000000
Interest Paid ⓘ -9-14-25-17-9-8-12-18-18-12
Dividend Paid ⓘ -2-4-7-7-7-24-54-48-36-18
Others ⓘ -2512113-11215-36-3025-2475
Net Cash Flow ⓘ 213-192140-835-272-96
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)14.9717.8213.216.827.2334.6627.0918.9915.8715.6
ROCE (%)21.9927.2719.539.3933.9941.1934.9824.8720.6719.58
Asset Turnover Ratio1.491.551.251.11.511.731.61.571.761.69
PAT to CFO Conversion(x)1.340.56-1.56.170.410.740.9-0.140.87-0.32
Working Capital Days
Receivable Days68.2062.8085.40102.8072.4054.8054.1058.5059.4064.20
Inventory Days94.80101.30119.1011678.1073.2066.1063.2058.9064.20
Payable Days121.90136.60148.20124.9097.9084.6072.6047.603636.80

Top 5 Mutual Funds Holding

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Announcements

Panama Petrochem Ltd FAQs

The current trading price of Panama Petrochem on 23-Sep-2026 13:26 is ₹480.1.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 22-Sep-2026 the market cap of Panama Petrochem stood at ₹2,910.4 Cr

The latest P/E ratio of Panama Petrochem as of 22-Sep-2026 is 8.77.

The latest P/B ratio of Panama Petrochem as of 22-Sep-2026 is 2.29.

The 52-week high of Panama Petrochem is ₹600.0 and the 52-week low is ₹229.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Panama Petrochem is ₹2,786 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Panama Petrochem Ltd is a good quality company.

The key valuation ratios of Panama Petrochem Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Panama Petrochem Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Panama Petrochem Ltd

Panama Petrochem established in 1975 is one of India’s leading manufacturers and exporters of petroleum specialty products. Their focus is to consistently provide quality services. Their petroleum products are in great demand for various industries like inks and resins, textiles, rubber, pharmaceuticals, cosmetics, power, cables and other different industrial purposes. Panama Petrochem Limited is also listed on the Mumbai Stock Exchange.

Panama Petrochem manufactures more than 80 product variants vital for nearly six to seven industry segments. They are in league with the giants of each industry. They are in collaboration with Lubcon, Germany for distribution of their specialized products . Last but certainly not the least, they also furnish various Power Generation Boards and Atomic Research Centers with their required products. Since they realize how significant every client is to them, they keep in mind each client’s specifications and needs, ensuring customer satisfaction and an excellent rapport. This policy that they follow guarantees little scope for dissatisfaction from the customer’s end.

Their business is spread across India in the form of four manufacturing plants at Ankleshwar(Gujarat), Daman(Union Territory), Marol (Mumbai) and Taloja (Dist. Raigadh).  Panama Petrochem Ltd. is progressing every day, and their increasing turnover and better results period after period proves this.

The company is in the field of petroleum speciality oils and solvents for more than 25 years. Its Ankleshwar Plant is one of the best of its kind in terms of huge production capacity with large storage tanks and warehouses.

The company’s specialization and expertise is their strength so that they continuously add new and more value-added products in their list so as to serve the niche market and stay always abreast of their competitors. They have procured all the required statutory approvals that permit them to supply their various oil products to the different industries. Their clients have complete faith in the quality of each of their products, which is why they have received a great response from customer’s end.

By exploring international markets, Panama Petrochem continuously aims to bring about a rise in the exports. They export a variety of their products like Petroleum Jelly, Liquid Paraffin, Transformer Oil and Rubber Process Oil to different countries like USA, UK, Europe, Middle East, Australia, African Sub-continent, South East Asia etc . Good infrastructure for the company and their state-of-the-art Research and Development center help them to simultaneously cater to domestic and international needs.

Product range of the company includes:

  • White Oil
  • Turbine Oil
  • Spray Oil and Hydraulic Oil
  • Transformer Oil
  • Petroleum Jelly
  • Liquid Paraffins
  • White Soft Paraffins
  • Petrolatum

It also manufactures Ink Oils (Solvents for Printing Inks & Resins) of various grades and can also supply as per customers specification. Its Ink oils find good market in different printing ink & resin manufacturers. Recently the company has developed wax blends & highly aromatic petroleum oils for rubber industries, which are well accepted by some of the leading tyre manufacturers.

The company provides their petroleum specialty products to:

  • Cosmetic Industries
  • Phamaceutical Industries
  • Ink and Resins Industries
  • Transformer MFG Industries
  • Rubber and Tyre Industries
  • Textile Industries
  • Cable MFG Industries
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