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Pavna Industries Ltd (PAVNAIND)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543915 NSE: PAVNAIND Auto Ancillary | Small Cap | Pavna Industries Share Price
₹15.77 0.38 (2.47%)
As on 23-Sep'26 15:32
Pavna Industries Ltd (PAVNAIND)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543915 NSE: PAVNAIND Auto Ancillary | Small Cap | Pavna Industries Share Price
₹15.77 0.38 (2.47%)
As on 23-Sep'26 15:32
Key Metrics
Valuation Multiples
Market Cap
₹215 Cr.
Current Price
₹15.8
52-Week Low / High
₹13 / 43
TTM EPS
₹0.6
TTM Sales
₹329 Cr.
Book Value per Share
₹12.5
P/E Ratio
28.05
Lower than its 5-year historical median
Industry PE
49.2
Price to Book (P/B)
1.23
Lower than its 5-year historical median
Price to Sales (P/S)
0.65
Lower than its 5-year historical median
EV/EBITDA
9.46
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
3.08%
Underperforms industry median
Return on Capital Employed (ROCE)
5.33%
Underperforms industry median
Return on Assets (ROA)
1.63%
Operating Profit Margin
9.8%
Net Profit Margin
1.78%
Gross Profit Margin
8.4%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-4.67%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-12.74%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-34.2%
Asset Quality
Promoter Holding
61.50%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹161 Cr.
Equity
₹14 Cr.
Face Value
₹1
All Time Low / High
₹13.21 / 75.95
Check Before You Invest
Quality
Not GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Weak
Is Pavna Industries Ltd a good quality company?
Pavna Industries Ltd is a weak quality company, based on a inconsistent 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.
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.
How does Pavna Industries Ltd performance compare with that of its Peers?
Revenue growth of Pavna Industries Ltd vs industry peers?
Pavna Industries Ltd revenue CAGR is 6.25%, compared to the industry median CAGR of 1.58%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Pavna Industries Ltd?
Promoters hold 61.50% of the Pavna Industries Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Pavna Industries Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of -39.81% based on the current price.
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Pavna Industries Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 17.6% | 20.8% | 25.7% | 17.2% | 15.5% | 14.2% | 12.7% | 12.5% | 10.3% | 4.2% | - |
| Value Creation Index ⓘ | 0.3 | 0.5 | 0.8 | 0.2 | 0.1 | 0.0 | -0.1 | -0.1 | -0.3 | -0.7 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 83.4 | 107 | 138 | 136 | 171 | 250 | 263 | 283 | 298 | 284 | 313 |
| Sales YoY Gr. | - | 27.9% | 29.3% | -1.2% | 25.7% | 45.7% | 5.5% | 7.4% | 5.3% | -4.7% | - |
| Adj EPS ⓘ | 2.1 | 0.3 | 0.6 | 6 | 4.2 | 4.9 | 5.9 | 0.6 | 0.5 | 0.3 | 0.4 |
| YoY Gr. | - | -84.9% | 84.4% | 911.9% | -29.7% | 16.7% | 20.2% | -89.1% | -15.6% | -46.3% | - |
| BVPS (₹) ⓘ | 12.5 | 1.6 | 2.2 | 24.5 | 37.4 | 41.9 | 47.1 | 5.4 | 11.6 | 11.9 | 11.9 |
| Adj Net Profit ⓘ | 2.2 | 3.3 | 6.1 | 6.2 | 5.1 | 6 | 7.2 | 7.8 | 7.6 | 4.1 | 6 |
| Cash Flow from Ops. ⓘ | 0 | 0 | 0 | 5 | -7.1 | -11.9 | 14.2 | 0.3 | -1.5 | -13 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 8.2 | -6.4 | -6.3 | 6.2 | 417.2 | -19.7 | -7.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 14.6% | 10.6% | 2.6% | -4.7% | ||||
| Adj EPS ⓘ | -19.8% | -41.4% | -63.4% | -46.3% | ||||
| BVPSⓘ | -0.6% | -20.5% | -36.8% | 2% | ||||
| Share Price | - | -39.8% | -28% | -60.5% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 18.5 | 22.5 | 31.5 | 25.9 | 14.4 | 12.3 | 13.2 | 12.7 | 5.9 | 2.1 | 3.4 |
| Op. Profit Mgn % ⓘ | 8.7 | 8.3 | 8.9 | 12.1 | 9 | 8.4 | 9.1 | 10.1 | 10.3 | 8.1 | 7.8 |
| Net Profit Mgn % ⓘ | 2.6 | 3.1 | 4.4 | 4.6 | 3 | 2.4 | 2.7 | 2.8 | 2.5 | 1.4 | 1.8 |
| Debt to Equity ⓘ | 1.5 | 1.1 | 0.9 | 1.6 | 1 | 1.5 | 1.5 | 1.7 | 0.2 | 0.6 | - |
| Working Cap Days ⓘ | 71 | 69 | 65 | 96 | 119 | 131 | 164 | 174 | 183 | 227 | 104 |
| Cash Conv. Cycle ⓘ | 35 | 36 | 18 | 27 | 44 | 61 | 84 | 96 | 124 | 151 | 39 |
Valuation of Pavna Industries - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|
| Sales | 180 | 219 | 316 | 362 | 317 | 308 | 297 |
| Operating Expenses ⓘ + | 161 | 200 | 286 | 329 | 282 | 275 | 268 |
| Operating Profit ⓘ | 19 | 20 | 30 | 33 | 35 | 33 | 29 |
| Operating Profit Margin (%) | 10.3% | 9.0% | 9.4% | 9.1% | 10.9% | 10.8% | 9.8% |
| Other Income ⓘ + | 0 | 0 | 1 | 2 | 3 | 2 | 3 |
| Interest ⓘ | 4 | 5 | 9 | 11 | 11 | 11 | 7 |
| Depreciation ⓘ | 4 | 4 | 9 | 12 | 11 | 13 | 14 |
| Profit Before Tax ⓘ | 9 | 11 | 13 | 12 | 16 | 11 | 8 |
| Tax ⓘ | 3 | 3 | 4 | 3 | 4 | 3 | 3 |
| Profit After Tax | 6 | 7 | 9 | 9 | 12 | 8 | 5 |
| PAT Margin (%) | 3.2% | 3.3% | 2.9% | 2.4% | 3.8% | 2.6% | 1.8% |
| Adjusted EPS (₹) | 0.4 | 0.5 | 0.7 | 0.7 | 0.9 | 0.5 | 0.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 14.60% | 0% | 0% | 0% |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 27 | 48 | 54 | 62 | 73 | 169 | 174 | ||||
| Debt + | 46 | 59 | 115 | 130 | 115 | 33 | 108 | ||||
| Minority Interest | 8 | 9 | 12 | 12 | 12 | 12 | 13 | ||||
| Trade Payables | 23 | 39 | 41 | 54 | 39 | 21 | 29 | ||||
| Others Liabilities ⓘ | 16 | 8 | 18 | 21 | 19 | 43 | 47 | ||||
| Total Liabilities ⓘ | 120 | 162 | 241 | 279 | 258 | 278 | 371 | ||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 45 | 53 | 77 | 88 | 75 | 91 | 121 | ||||
| CWIP ⓘ | 0 | 0 | 0 | 1 | 0 | 0 | 4 | ||||
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Inventories | 28 | 46 | 92 | 106 | 98 | 114 | 123 | ||||
| Trade Receivables | 30 | 38 | 50 | 53 | 56 | 43 | 45 | ||||
| Cash Equivalents | 1 | 1 | 1 | 0 | 0 | 1 | 2 | ||||
| Others Assets ⓘ | 16 | 24 | 22 | 30 | 28 | 28 | 76 | ||||
| Total Assets ⓘ | 120 | 162 | 241 | 279 | 258 | 278 | 371 | ||||
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 0 | -8 | -21 | 18 | 5 | 6 | -1 |
| Cash Flow From Investing Activity ⓘ + | 0 | -11 | -31 | -23 | -18 | -28 | -66 |
| Cash Flow From Financing Activity ⓘ + | 0 | 18 | 52 | 5 | 12 | 22 | 68 |
| Net Cash Flow ⓘ | 0 | -1 | 0 | -0 | -0 | 1 | 1 |
| PARTICULARS | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 21.23 | 19.33 | 17.93 | 14.9 | 17.83 | 6.64 | 3.08 | |||
| ROCE (%) | 17.09 | 17.52 | 15.58 | 12.46 | 13.75 | 10.32 | 5.33 | |||
| Asset Turnover Ratio | 1.49 | 1.55 | 1.56 | 1.39 | 1.18 | 1.15 | 0.91 | |||
| PAT to CFO Conversion(x) | 0 | -1.14 | -2.33 | 2 | 0.42 | 0.75 | -0.2 | |||
| Working Capital Days | ||||||||||
| Receivable Days | 60.10 | 56.60 | 51.20 | 52.20 | 62.90 | 58.60 | 54.10 | |||
| Inventory Days | 56.70 | 61.80 | 79.90 | 99.80 | 117.60 | 125.70 | 146 | |||
| Payable Days | 80.30 | 81.60 | 73.40 | 75.40 | 84.30 | 54.40 | 48.10 | |||
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Pavna Industries Ltd FAQs
The current trading price of Pavna Industries on 23-Sep-2026 15:32 is ₹15.77.
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 Pavna Industries stood at ₹214.7 Cr
The latest P/E ratio of Pavna Industries as of 22-Sep-2026 is 38.87.
The latest P/B ratio of Pavna Industries as of 22-Sep-2026 is 1.29.
The 52-week high of Pavna Industries is ₹42.50 and the 52-week low is ₹13.21.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Pavna Industries is ₹313 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Pavna Industries Ltd is a below average quality company.
The key valuation ratios of Pavna Industries Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Pavna Industries Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Pavna Industries Ltd
Pavna Industries along with its subsidiaries is engaged in the business of manufacturing of automotive parts, providing solutions for automobile applications and serving automobile & other applications worldwide. Its focus is manufacturing quality & customer-oriented components, catering to Original Equipment Manufacturers (OEM) & providing automotive after-market solutions. The company has a varied client base and it is committed to continuing to diversify its product offerings, customer base and geographical footprint, thereby minimizing its exposure to individual geographies and industry sectors.
The company has ultra-modern manufacturing plants in India, located in Aligarh (Uttar Pradesh), Aurangabad (Maharashtra), & Pantnagar (Uttarakhand). Its facilities are located in key auto-clusters and some of the facilities are in close proximity to the plants of its OEM customers. The proximity of its facilities to the plants of its OEM customers also facilitates greater interaction with its customers, thereby enabling it to respond to their requirements in a timely manner.
Business area of the company:
The company is engaged in manufacturing of wide range of automotive components for reputed Original Equipment Manufacturers (OEMs) as per their requirements primarily catering to various vehicle segments, including, passenger vehicles, two-wheelers, three-wheelers, heavy and light commercial vehicles and off-road vehicles. The company has a varied client base and it is committed to continuing to diversify. The company along with its subsidiaries has a diversified product portfolio, which consists of high-quality reliable parts such as Ignition Switches, Fuel Tank Caps, Latches, Auto Locks, Handles, Switches, Oil Pump, Carburetor, Throttle Body, Fuel Cocks, Injection System, Casting Components etc. It also provides aftermarket sales and services. Its aftermarket products include products manufactured by it such as filters, clutch plates, bearings, wiper blades and brake shoes.
Major events in the history of company:
- 1994: Incorporated as ‘Pavna Locks Private Limited’.
- 2000: Unit 3 was established by the Company.
- 2000: Entered into Business Agreements with Zadi Italy.
- 2000: The company was converted from Private Company to Public Company and consequently the name was changed to ‘Pavna Locks Limited’.
- 2000: The company was changed to ‘Pavna Zadi Security Systems Limited’.
- 2005: Unit 7 was established by the Company.
- 2010: Unit 5 was established by the Company.
- 2010: Rescinded the Business Agreements with Zadi Italy.
- 2014: Turnover of the company crossed Rs 50 crore mark.
- 2015: A major fire broke out in a part of the company‘s premises at Vimlanchal, Hari Nagar, Aligarh.
- 2018: Turnover of the company crossed Rs 100 crore mark.
- 2019: Unit 4 was established by the Company.
- 2019: Unit 8 was established by the Company.
- 2019: Awarded with a Trophy - Quality Award -’Gold’ by Bajaj Auto Limited.
- 2019: Incorporated Subsidiary Company namely ‘Pavna Marketing Private Limited’.
- 2020: Acquired Subsidiary Company namely ‘Pavna Sunworld Autotech Private Limited’.
- 2020: Acquired Subsidiary Company namely ‘Swapnil Switches Private Limited’.
- 2020: Acquired Subsidiary Company namely ‘Pavna Auto Engineering Private Limited’.
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