MarketFriction

Panjon Ltd

BSE 526345 · Packaged Foods
₹21.77 +0.00%
BSE close2026-10-01
Market cap₹38.9 Cr.
P/E63.7

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1.304.815.202.093.3811.1613.836.4214.9514.1412.128.07
Expenses1.274.805.232.073.3110.9313.526.2314.6913.8511.887.88
Operating Profit0.030.01-0.030.020.070.230.310.190.260.290.240.19
OPM %2.31%0.21%-0.58%0.96%2.07%2.06%2.24%2.96%1.74%2.05%1.98%2.35%
Other Income0.040.060.270.100.080.080.050.040.050.040.170.07
Interest0.010.010.020.030.030.060.060.060.040.070.100.08
Depreciation0.020.020.160.050.050.050.080.080.040.040.140.08
Profit before tax0.040.040.060.040.070.200.220.090.230.220.170.10
Tax %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%64.71%0.00%
Net Profit0.040.040.050.030.070.200.230.090.220.220.060.11
EPS in Rs0.030.030.030.020.040.120.130.050.130.130.030.06
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales12.2613.9820.1025.9426.4314.498.416.0912.5530.4647.6249.28
Expenses12.3514.0019.6825.6326.1114.3012.456.0912.5729.8346.6448.30
Operating Profit-0.09-0.020.420.310.320.19-4.040.00-0.020.630.980.98
OPM %-0.73%-0.14%2.09%1.20%1.21%1.31%-48.04%0.00%-0.16%2.07%2.06%1.99%
Other Income0.430.520.210.360.290.330.300.380.450.310.300.33
Interest0.170.190.280.240.150.100.070.050.060.180.270.29
Depreciation0.140.130.110.150.270.230.200.210.220.230.300.30
Profit before tax0.030.180.240.280.190.19-4.010.120.150.530.710.72
Tax %-1,133.33%33.33%50.00%53.57%115.79%47.37%3.49%-575.00%0.00%24.53%15.49%
Net Profit0.360.120.120.14-0.030.10-4.150.810.150.400.600.61
EPS in Rs0.230.080.080.09-0.020.06-2.680.520.090.230.350.35
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth15%27%98%42%
Compounded Profit Growth5%43%-10%3%
Stock Price CAGR%%14%23%
Return on Equity-1%-3%2%4%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital15.5015.5015.5015.5015.5015.5015.5015.5015.5016.3117.1717.17
Reserves0.520.891.001.131.271.231.31-2.84-2.02-1.46-0.62-0.13
Borrowings1.521.411.261.891.841.561.330.810.781.442.654.01
Other Liabilities0.510.240.280.290.340.921.120.580.641.100.850.71
Total Liabilities18.0518.0418.0418.8118.9519.2119.2614.0514.9017.3920.0521.76
Fixed Assets0.920.840.740.720.871.120.960.950.910.901.091.44
CWIP0.000.000.000.000.000.000.000.000.000.000.000.00
Investments1.081.081.081.091.091.081.071.071.081.081.101.11
Other Assets16.0516.1216.2217.0016.9917.0117.2312.0312.9115.4117.8619.21
Total Assets18.0518.0418.0418.8118.9519.2119.2614.0514.9017.3920.0521.76
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity0.89-0.200.18-0.170.490.350.341.820.04-0.42-4.34-0.43
Cash from Investing Activity4.74-0.06-0.04-0.08-0.31-0.51-0.06-0.19-0.19-0.21-0.44-0.66
Cash from Financing Activity-5.14-0.19-0.170.40-0.05-0.07-0.24-0.510.181.882.501.38
Net Cash Flow0.49-0.44-0.030.150.13-0.220.041.120.041.25-2.270.28
Free Cash Flow5.54-0.260.14-0.250.18-0.170.271.63-0.14-0.62-4.76-1.08
CFO/OP-29%222%-1,100%-29%177%122%195%-45%2,000%-689%-33%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days184.28261.3921.6716.8923.6445.5793.4526.4793.5052.6439.0641.93
Inventory Days46.16101.4395.1366.6357.6559.10120.11306.47610.67152.3565.8748.45
Days Payable7.204.142.932.193.9811.4828.2419.5163.176.933.562.83
Cash Conversion Cycle223.24358.68113.8781.3377.3193.20185.32313.43641.00198.07101.3787.54
Working Capital Days262.83428.41177.80123.85112.85138.51261.22277.76480.07216.38105.4577.03
ROCE %-14.51%1.13%2.08%2.87%2.80%1.84%1.59%-24.93%1.23%1.37%4.00%4.87%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters52.03%52.03%52.03%54.42%56.69%56.69%56.69%56.69%56.69%56.69%56.69%56.69%
Public47.98%47.98%47.96%45.59%43.32%43.31%43.31%43.31%43.31%43.32%43.31%43.31%
No. of Shareholders9,6839,7219,8289,82810,46010,64510,75710,69310,63710,60910,42110,380

Fundamentals

Market Cap₹ 38.9 Cr.
Current Price₹ 22.6
Stock P/E63.7
Book Value₹ 9.93
ROCE4.87 %
ROE3.57 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)42%
Compounded Profit Growth (TTM)3%
Standalone figures.
Valuation
Market capRs 37 Cr
Enterprise valueRs 41 Cr
P/E (TTM)61.28x
Price to book2.19x
Price to sales0.76x
EV / EBITDA31.04x
EV / EBIT40.26x
EV / sales0.83x
Earnings yield1.63%
P/E, 3-year average149.85x
P/B, 3-year average2.16x
P/E, 5-year average107.34x
P/B, 5-year average1.95x
Profitability
Operating margin (excl. other income)2.06%
Operating margin (incl. other income)2.69%
EBITDA margin2.66%
Pre-tax margin1.46%
Net profit margin1.24%
Net margin, latest quarter1.36%
ROE3.57%
ROCE4.87%
ROA2.87%
ROE, 3-year average2.39%
ROCE, 3-year average3.42%
ROA, 3-year average1.98%
ROE, 5-year average-2.96%
ROCE, 5-year average-2.69%
ROA, 5-year average-2.68%
ROIC (approx.)4.20%
Tax rate15.49%
Other income / net worth1.76%
Growth
Sales growth (latest year)56.34%
Profit growth (latest year)50.00%
Sales CAGR, 3 years98.48%
Sales CAGR, 5 years26.87%
Profit CAGR, 3 years-9.52%
Profit CAGR, 5 years43.10%
Sales growth QoQ-33.42%
Profit growth QoQ83.33%
Sales growth YoY (latest quarter)25.70%
Profit growth YoY (latest quarter)22.22%
Per share
EPS (TTM)Rs 0.36
EPS (latest quarter)Rs 0.06
EPS, 3-year averageRs 0.17
EPS, 5-year averageRs -0.45
Book value per shareRs 9.92
Sales per shareRs 28.70
Cash flow per shareRs -0.25
Free cash flow per shareRs -0.63
Efficiency
Asset turnover2.19x
Fixed asset turnover33.07x
Inventory turnover7.53x
Inventory days48 days
Debtor days42 days
Debtors turnover8.71x
Creditor days3 days
Cash conversion cycle88 days
Working capital days77 days
Leverage
Total debtRs 4 Cr
Cash and bankRs 1 Cr
Net debtRs 3 Cr
Debt to equity0.24x
Net debt / EBITDA2.50x
Interest coverage3.48x
Owners' fund to total sources78.31%
Debt to assets18.43%
Cash flow
Cash from Operating Activity (latest year)Rs -0 Cr
Cash from Investing Activity (latest year)Rs -1 Cr
Cash from Financing Activity (latest year)Rs 1 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs -1 Cr
FCFE (approx.: FCF + change in debt)Rs 0 Cr
Statement figures
Net sales (TTM)Rs 49 Cr
Net sales (latest year)Rs 48 Cr
Sales (latest quarter)Rs 8 Cr
Operating profit excl. other income (latest year)Rs 1 Cr
Operating profit (latest quarter)Rs 0 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 1 Cr
PBDT (TTM)Rs 1 Cr
Profit before tax (TTM)Rs 1 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 1 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 0 Cr
Depreciation (TTM)Rs 0 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 37 Cr
Total expenditure (latest year)Rs 47 Cr
Total income (latest year)Rs 48 Cr
Share capitalRs 17 Cr
ReservesRs -0 Cr
Shareholders' fundsRs 17 Cr
Total assetsRs 22 Cr
Net blockRs 1 Cr
InvestmentsRs 1 Cr
ReceivablesRs 5 Cr
InventoryRs 5 Cr
Other liabilitiesRs 1 Cr
Shares outstanding (crore)1.72
Ownership
Promoter holding56.69% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 58.2 is at the 52th percentile of its own 3.8-year range (median 58.1, low 26.0, high 374.8).
P/B 2.08 is at the 53th percentile (median 1.96).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
Period526345Nifty 50Difference
1 week-3.3%-2.8% -0.6 pts
1 month+6.1%-6.8% +12.9 pts
3 months+17.8%-7.6% +25.4 pts
3 years+45.1%+14.2% +31.0 pts

Red flags

F-score 4 of 8
explainWeak cash conversion Cash from operations was -451% of net profit over the last 3 years
lookProfit leans on other income Other income was 42% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹8 Cr +25.7% vs Jun 2025. Net profit ₹0 Cr +22.2%.

Activity

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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Panjon Ltd?

Panjon Ltd (526345) has a market capitalisation of Rs 38.9 Cr. at the 2026-10-01 close.

What is the P/E ratio of Panjon Ltd?

Panjon Ltd trades at a P/E of 63.7 on trailing twelve-month profit, at the 2026-10-01 close.

What were Panjon Ltd's latest quarterly results?

In the Jun 2026 quarter, Panjon Ltd sales was Rs 8 Cr (+25.7% vs Jun 2025) and net profit was Rs 0 Cr.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03