Panasonic Carbon India Co. (BSE: PANCARBON) had a P/E of 9.6× on 6 Nov 2026, below the industry P/E of 63.0×, and the shares are 27% below their 52-week high. It earns ROCE of 9.3% and ROE of 12%, and sales and net profit grew 2.9% and 18% a year over 3 years, though net profit is above operating profit, which points to a one-off gain. Its dividend yield is 3.1%. It is a small-cap company with a market cap of ₹185 Cr, ranked 14th of 20 Electronic Components companies by market cap; the shares fell 20% over the past year.
- ₹382.20
- ₹387.00
- ₹380.30
- ₹392.00
- 3K
Health check
- ReturnsBehind
−19.7% over a year, better than 1 of 7 peers.
- Price tagDistorted
A one-off gain inflates profit, so P/E isn’t comparable right now.
- GrowthSlow
Sales +2.9%, profit +18.3% a year over 3 years.
- ProfitabilityWeak
ROCE 9.3% vs peer median 15.7%.
- Balance sheetn/a
Balance sheet figures aren’t reported.
- Red flags3 to check
Quarterly profit down 32.4% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹185 Cr
- Small cap
- P/E
- 9.6
- Industry 63.0
- Price to book
- 0.99
- Peers 6.25
- Dividend yield
- 3.06%
- ROE
- 11.8%
- Peers 14.9%
- ROCE
- 9.3%
- Peers 15.7%
- Debt to equity
- n/a
- Debt ₹0.00 Cr
- EPS (TTM)
- ₹39.99
- OPM (TTM)
- 31.5%
- Net margin 38.4%
- Sales growth
- −30.1%
- Latest quarter vs a year ago
- Profit growth
- −32.4%
- Latest quarter vs a year ago
- Price to sales
- 3.71
- EV/EBITDA 2.3
Strengths and risks
Strengths
- Dividend yield of 3.06%.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Quarterly profit down 32.4% on a year ago.
- Quarterly sales down 30.1% on a year ago.
- Net profit is above operating profit, so a one-off gain is likely flattering earnings.
About Panasonic Carbon India Co.
Panasonic Carbon India Co. Limited manufactures and sells carbon rods as a component of dry cell batteries to battery manufacturers in India and internationally. It also manufactures custom size roads. The company was formerly known as Indo Matsushita Carbon Co. and changed its name to Panasonic Carbon India Co. Limited in July 2005. The company was founded in 1982 and is based in Chennai, India. Panasonic Carbon India Co. Limited operates as a subsidiary…
- Headquarters
- Chennai
- Employees
- 136
- Sector
- Technology
- ISIN
- INE013E01017
- Website
- panasoniccarbon.in
Price range
- Avg volume (3M)
- 2.1K
- 1-year return
- minus 19.7%
- From 52-week high
- minus 26.6%
Peers · Electronic Components
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SYRMASyrma SGS Technology | 1,459.30 | minus 3.68% | 28,110 | 66.7 | 47.6 | 14.7% | 10.9% | 0.24 | 32.8% | plus 93.2% |
| KAYNESKaynes Technology India | 3,233.00 | minus 1.81% | 21,733 | 63.0 | 37.5 | 12.0% | 15.6% | 0.19 | 47.7% | minus 50.6% |
| PGELPG Electroplast | 546.15 | minus 0.55% | 15,661 | 72.5 | 37.0 | 8.7% | 7.3% | 0.25 | 33.8% | minus 3.4% |
| AVALONAvalon Technologies | 1,893.60 | minus 9.83% | 12,668 | 95.0 | 72.8 | 21.7% | 11.4% | 0.30 | 19.3% | plus 82.6% |
| KRNKRN Heat Exchanger and Refrigeration | 939.80 | minus 4.99% | 6,152 | 51.9 | – | – | 13.0% | 0.16 | – | plus 24.9% |
| CENTUMCentum Electronics | 4,069.20 | minus 0.88% | 6,007 | 374.4 | 41.5 | 37.9% | 10.5% | 0.38 | 2.4% | plus 67.0% |
| MODINSUModern Insulators | 457.10 | minus 2.34% | 2,155 | 22.9 | 20.2 | 16.7% | 14.8% | 0.13 | 18.5% | plus 213.5% |
| PANCARBONPanasonic Carbon India Co. | 385.85 | minus 1.57% | 185 | 9.6 | 2.0 | – | 22.0% | – | 2.9% | minus 19.7% |
| Median of 7 peers | – | −2.34% | 12,668 | 66.7 | 39.5 | 15.7% | 11.4% | 0.24 | 26.0% | 67.0% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 15.9 | 17.1 | 11.6 | 10.2 | 11.1 | |
| 10.4 | 10.6 | 8.1 | 7 | 8.5 | |
| 5.5 | 6.5 | 3.4 | 3.2 | 2.6 | |
| 34.7% | 38.1% | 29.7% | 31.6% | 23.3% | |
| 3.1 | 3.4 | 3.1 | 3.2 | 3.3 | |
| 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | |
| – | – | −0.5 | – | – | |
| 8.5 | 9.7 | 5.8 | 6.2 | 5.7 | |
| 25.6% | 38.9% | 23.7% | 26.3% | 25.4% | |
| 6.3 | 5.9 | 4.5 | 4.6 | 4.3 | |
| 13.12 | 12.34 | 9.28 | 9.50 | 8.87 |
Profit & loss
- Sales CAGR 3Y
- +2.9%
- Profit CAGR 3Y
- +18.3%
- EPS CAGR 3Y
- +18.3%
- ROE
- 11.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 49.4 | 50.4 | 53.2 | 53.9 | |
| – | +2.1% | +5.5% | +1.2% | |
| 38.5 | 35.1 | 36.4 | 35.7 | |
| 10.9 | 15.3 | 16.9 | 18.2 | |
| 22.0% | 30.4% | 31.7% | 33.7% | |
| 7.4 | 10.4 | 11.7 | 12.7 | |
| 0.8 | 0.7 | 0.7 | 0.7 | |
| – | 0 | 0 | 0 | |
| 17.5 | 25 | 28 | 30.2 | |
| 26.7% | 25.8% | 25.5% | 29.6% | |
| 12.8 | 18.6 | 20.8 | 21.2 | |
| – | +44.9% | +12.0% | +2.0% | |
| 26.72 | 38.73 | 43.39 | 44.25 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 4.8 | 4.8 | 4.8 | 4.8 | |
| 139 | 152 | 167 | 183 | |
| 5 | 5.6 | 5.6 | 5.9 | |
| 149 | 162 | 178 | 194 | |
| 5.3 | 4.9 | 4.5 | 4.3 | |
| 0.6 | – | 0 | – | |
| 46.2 | 22.5 | 15.5 | 29.7 | |
| 87.4 | 127 | 147 | 150 | |
| 9.6 | 8.4 | 10.3 | 9.8 | |
| 149 | 162 | 178 | 194 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 9.5 | 2.3 | 8.2 | 11 | |
| −4.6 | 3 | −1.2 | −5.9 | |
| −5.7 | −5.8 | −5.8 | −5.7 | |
| −0.8 | −0.5 | 1.2 | −0.7 | |
| −0.6 | −0.3 | −0.3 | −0.5 | |
| 8.9 | 2 | 7.9 | 10.5 | |
| −5.7 | −5.8 | −5.8 | −5.8 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.