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Panjon Overview

Panjon Ltd manufactures and trades in allopathic and ayurvedic medicines in India. The company offers pills, balms, cough syrups, cough drops, inhalers, and dental care creams below the Panjon brand; Hinkargiri hair oils; KERY cough drops; Percy digestive candies; digestive drops, awla, khajoor, chatpati digesitive goodies, shoppee, and energy beverages under the Swad brand name; and Purti mouth fresheners. It also operates SwadBazaar.Com, a web shopping portal. The corporation was founded in 1964 and is based in Indore, India.

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Panjon Key Financials

Market Cap ₹42 Cr.

Stock P/E 106.3

P/B 2.5

Current Price ₹24.6

Book Value ₹ 9.9

Face Value 10

52W High ₹30

Dividend Yield 0%

52W Low ₹ 16.1

Panjon Share Price

₹ | |

Volume
Price

Panjon Quarterly Price

Show Value Show %

Panjon Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 1 5 5 2 3 11 14 6 15 14
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 1 5 5 2 3 11 14 6 15 14
Total Expenditure 1 5 5 2 3 11 14 6 15 14
Operating Profit 0 0 0 0 0 0 0 0 0 0
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 0 0 0 0 0 0 0 0
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax 0 0 0 0 0 0 0 0 0 0
Adjustments 0 0 -0 -0 0 0 0 0 0 0
Profit After Adjustments 0 0 0 0 0 0 0 0 0 0
Adjusted Earnings Per Share 0 0 0 0 0 0.1 0.1 0.1 0.1 0.1

Panjon Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 19 12 14 20 26 26 15 8 6 13 30 49
Other Income 0 0 1 0 0 0 0 0 0 0 0 0
Total Income 20 13 15 20 26 27 15 9 6 13 31 49
Total Expenditure 23 12 14 20 26 26 14 12 6 13 30 49
Operating Profit -3 0 0 0 1 1 1 -4 0 0 1 0
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses -2 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -5 0 0 0 0 0 0 -4 0 0 1 0
Provision for Tax -1 -0 0 0 0 0 0 0 -1 0 0 0
Profit After Tax -3 0 0 0 0 -0 0 -4 1 0 0 0
Adjustments 0 0 0 0 0 -0 -0 0 0 0 0 0
Profit After Adjustments -3 0 0 0 0 -0 0 -4 1 0 0 0
Adjusted Earnings Per Share -2.2 0.2 0.1 0.1 0.1 -0 0.1 -2.7 0.5 0.1 0.2 0.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 131% 55% 3% 5%
Operating Profit CAGR 0% 0% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 18% 19% NA% NA%
ROE Average 3% 3% -4% -3%
ROCE Average 4% 2% -3% -3%

Panjon Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 16 16 17 17 17 17 17 13 13 15 17
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 1 1 1 1 1 1 1 0 0 0 0
Other Non-Current Liabilities -1 -1 -1 -1 -1 -1 -1 -0 -1 -1 -1
Total Current Liabilities 1 0 1 1 1 1 1 1 1 2 3
Total Liabilities 17 17 17 18 18 19 19 14 14 16 19
Fixed Assets 1 1 1 1 1 1 1 1 1 1 1
Other Non-Current Assets 1 1 1 9 8 6 6 4 2 3 5
Total Current Assets 15 15 15 8 9 11 12 9 11 13 13
Total Assets 17 17 17 18 18 19 19 14 14 16 19

Panjon Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 1 0 0 0 0 0 0 1 1 3
Cash Flow from Operating Activities 1 -0 0 -0 0 0 0 2 0 -0 -4
Cash Flow from Investing Activities 5 -0 -0 -0 -0 -1 -0 -0 -0 -0 -0
Cash Flow from Financing Activities -5 -0 -0 0 -0 -0 -0 -1 0 2 3
Net Cash Inflow / Outflow 0 -0 -0 0 0 -0 0 1 0 1 -2
Closing Cash & Cash Equivalent 1 0 0 0 0 0 0 1 1 3 0

Panjon Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -2.21 0.23 0.08 0.08 0.09 -0.02 0.06 -2.68 0.52 0.09 0.23
CEPS(Rs) -2.13 0.33 0.16 0.15 0.19 0.16 0.21 -2.55 0.66 0.23 0.37
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 10.34 10.57 10.65 10.73 10.82 10.79 10.85 8.17 8.7 9.11 9.64
Core EBITDA Margin(%) -15.58 -1 -0.58 1.32 1.03 1.22 1.31 -47.95 -0.09 -0.13 2.09
EBIT Margin(%) -23.96 1.35 2.22 1.83 1.85 1.28 2.01 -46.83 2.73 1.76 2.34
Pre Tax Margin(%) -24.18 0.2 1.31 1.21 1.09 0.71 1.32 -47.61 1.93 1.25 1.73
PAT Margin (%) -17.62 2.95 0.83 0.61 0.54 -0.12 0.66 -49.24 13.3 1.21 1.3
Cash Profit Margin (%) -16.98 4.11 1.77 1.15 1.12 0.91 2.21 -46.83 16.76 2.93 2.07
ROA(%) -15.33 2.11 0.68 0.7 0.78 -0.18 0.52 -25.77 5.94 1.01 2.26
ROE(%) -17.68 2.23 0.71 0.74 0.84 -0.19 0.57 -28.17 6.2 1.07 2.52
ROCE(%) -22.21 0.94 1.75 2.03 2.59 1.84 1.6 -24.99 1.2 1.44 4.01
Receivable days 211.75 277.05 225.21 85.4 18.39 34.44 87.99 93.35 64.8 48.91 30.38
Inventory Days 76.91 80.94 80.77 59.9 49.08 51.33 96.42 165.5 217.32 105.02 50.09
Payable days 8.97 8.97 3.29 2.19 2.95 7.84 26.95 56.74 85.83 11.79 3.05
PER(x) 0 0 0 0 0 0 0 0 22.33 205.92 97.44
Price/Book(x) 0 0 0 0 0 0 0 2.15 1.34 2.1 2.33
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.84 1.36 1.18 0.85 0.65 0.63 1.14 3.16 2.86 2.38 1.34
EV/Core EBITDA(x) -5.46 54.18 37.47 35.8 26.7 27.44 31.91 -7.11 46.14 68.38 43.15
Net Sales Growth(%) 0.95 -37.04 14.03 43.73 29.06 1.88 -44.98 -42 -27.76 106.07 142.65
EBIT Growth(%) -4849.11 103.54 87.93 18.43 30.69 -29.56 -13.79 -1452.16 104.21 32.84 222.34
PAT Growth(%) -1861.81 110.54 -67.84 5.66 13.82 -122.97 399.49 -4413.53 119.51 -81.31 161.64
EPS Growth(%) -1861.79 110.54 -67.84 5.63 13.87 -122.96 399.48 -4413.53 119.51 -82.23 148.44
Debt/Equity(x) 0.1 0.09 0.08 0.11 0.11 0.09 0.08 0.06 0.06 0.1 0.16
Current Ratio(x) 24.43 32.94 29.46 10.16 10.38 9.77 8.82 8.23 9.17 5.24 3.69
Quick Ratio(x) 20.46 26.52 23.17 5.89 6.39 6.53 5.98 4.75 6.17 3.68 2.35
Interest Cover(x) -110.59 1.18 2.43 2.96 2.43 2.24 2.93 -60.32 3.44 3.49 3.87
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0.03 0.04 0.05 0.07

Panjon Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 52.03 52.03 54.41 56.69 56.69 56.69 56.69 56.69 56.69 56.69
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 47.97 47.97 45.59 43.31 43.31 43.31 43.31 43.31 43.31 43.31
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Panjon News

Panjon Pros & Cons

Pros

  • Debtor days have improved from 11.79 to 3.05days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 3% over the last 3 years.
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