Panjon Ltd

₹ 24.2 9.14%

01 Apr - close price

About

Incorporated in 1983, Panjon Ltd manufactures and trades consumer and pharmaceutical products

Key Points

Product Profile:^[1]^[2]
Panjon Tablet, Panjon Balm, Panjon Cough Syrup, Panjon Cough Drops, Panjon Inhaler, Hinkargiri Hair Oil, Kery, Percy, Swad, Swad Awla, Swad Khajoor, Swad Chatpati, Swad Shoppee, Swad Energy Drink, Panjon Dental Cream, Purti Mouth Freshner

Distribution Network:^[3]
Company markets and manufactures its products and undertakes contract manufacturing for MNCs. Company sells its formulations under own brand name, through a nationwide marketing network of 20+ states through a chain of 80 distributors who in turn sell goods to 1000 appointed stockiest and 4,50,000 retailers, with help of a field force of 300+ sales representatives

Website BSE

Market Cap ₹ 41.6 Cr.
Current Price ₹ 24.2
High / Low ₹ 30.0 / 16.1
Stock P/E 54.7
Book Value ₹ 9.88
Dividend Yield 0.00 %
ROCE 4.00 %
ROE 2.55 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Debtor days have improved from 61.7 to 39.1 days.
Company's working capital requirements have reduced from 267 days to 105 days

Cons

Company has a low return on equity of 3.17% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Fast Moving Consumer Goods Fast Moving Consumer Goods Food Products Packaged Foods

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	1.37	1.30	1.24	1.30	4.81	5.20	2.09	3.38	11.16	13.83	6.42	14.95	14.14
	1.34	1.41	1.28	1.27	4.80	5.23	2.07	3.31	10.93	13.52	6.23	14.69	13.85
Operating Profit	0.03	-0.11	-0.04	0.03	0.01	-0.03	0.02	0.07	0.23	0.31	0.19	0.26	0.29
OPM %	2.19%	-8.46%	-3.23%	2.31%	0.21%	-0.58%	0.96%	2.07%	2.06%	2.24%	2.96%	1.74%	2.05%
	0.04	0.24	0.08	0.04	0.06	0.27	0.10	0.08	0.08	0.05	0.04	0.05	0.04
Interest	0.01	0.02	0.00	0.01	0.01	0.02	0.03	0.03	0.06	0.06	0.06	0.04	0.07
Depreciation	0.03	0.11	0.02	0.02	0.02	0.16	0.05	0.05	0.05	0.08	0.08	0.04	0.04
Profit before tax	0.03	0.00	0.02	0.04	0.04	0.06	0.04	0.07	0.20	0.22	0.09	0.23	0.22
Tax %	0.00%		0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.03	0.00	0.02	0.04	0.04	0.05	0.03	0.07	0.20	0.23	0.09	0.22	0.22
EPS in Rs	0.02	0.00	0.01	0.03	0.03	0.03	0.02	0.04	0.12	0.13	0.05	0.13	0.13
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	19.29	19.47	12.26	13.98	20.10	25.94	26.43	14.49	8.41	6.09	12.55	30.46	49.34
	19.15	22.54	12.35	14.00	19.68	25.63	26.11	14.30	12.45	6.09	12.57	29.83	48.29
Operating Profit	0.14	-3.07	-0.09	-0.02	0.42	0.31	0.32	0.19	-4.04	0.00	-0.02	0.63	1.05
OPM %	0.73%	-15.77%	-0.73%	-0.14%	2.09%	1.20%	1.21%	1.31%	-48.04%	0.00%	-0.16%	2.07%	2.13%
	0.02	-1.51	0.43	0.52	0.21	0.36	0.29	0.33	0.30	0.38	0.45	0.31	0.18
Interest	0.00	0.00	0.17	0.19	0.28	0.24	0.15	0.10	0.07	0.05	0.06	0.18	0.23
Depreciation	0.08	0.13	0.14	0.13	0.11	0.15	0.27	0.23	0.20	0.21	0.22	0.23	0.24
Profit before tax	0.08	-4.71	0.03	0.18	0.24	0.28	0.19	0.19	-4.01	0.12	0.15	0.53	0.76
Tax %	312.50%	-27.18%	-1,133.33%	33.33%	50.00%	53.57%	115.79%	47.37%	3.49%	-575.00%	0.00%	24.53%
	-0.17	-3.43	0.36	0.12	0.12	0.14	-0.03	0.10	-4.15	0.81	0.15	0.40	0.76
EPS in Rs	-0.11	-2.21	0.23	0.08	0.08	0.09	-0.02	0.06	-2.68	0.52	0.09	0.23	0.44
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	5%
5 Years:	3%
3 Years:	54%
TTM:	126%

Compounded Profit Growth
10 Years:	8%
5 Years:	73%
3 Years:	28%
TTM:	117%

Stock Price CAGR
10 Years:	%
5 Years:	%
3 Years:	28%
1 Year:	10%

Return on Equity
10 Years:	-1%
5 Years:	-4%
3 Years:	3%
Last Year:	3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	15.50	15.50	15.50	15.50	15.50	15.50	15.50	15.50	15.50	15.50	16.31	17.17	17.17
Reserves	8.85	0.52	0.89	1.00	1.13	1.27	1.23	1.31	-2.84	-2.02	-1.46	-0.62	-0.21
	1.67	1.52	1.41	1.26	1.89	1.84	1.56	1.33	0.81	0.78	1.44	2.65	3.55
	1.39	0.51	0.24	0.28	0.29	0.34	0.92	1.12	0.58	0.64	1.10	0.85	1.02
Total Liabilities	27.41	18.05	18.04	18.04	18.81	18.95	19.21	19.26	14.05	14.90	17.39	20.05	21.53
	5.69	0.92	0.84	0.74	0.72	0.87	1.12	0.96	0.95	0.91	0.90	1.09	1.24
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	1.18	1.08	1.08	1.08	1.09	1.09	1.08	1.07	1.07	1.08	1.08	1.10	1.10
	20.54	16.05	16.12	16.22	17.00	16.99	17.01	17.23	12.03	12.91	15.41	17.86	19.19
Total Assets	27.41	18.05	18.04	18.04	18.81	18.95	19.21	19.26	14.05	14.90	17.39	20.05	21.53

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-3.48	0.89	-0.20	0.18	-0.17	0.49	0.35	0.34	1.82	0.04	-0.42	-4.34
	-0.10	4.74	-0.06	-0.04	-0.08	-0.31	-0.51	-0.06	-0.19	-0.19	-0.21	-0.44
	3.44	-5.14	-0.19	-0.17	0.40	-0.05	-0.07	-0.24	-0.51	0.18	1.88	2.50
Net Cash Flow	-0.14	0.49	-0.44	-0.03	0.15	0.13	-0.22	0.04	1.12	0.04	1.25	-2.27
Free Cash Flow	-3.58	5.54	-0.26	0.14	-0.25	0.18	-0.17	0.27	1.63	-0.14	-0.62	-4.76
CFO/OP	-2,471%	-29%	222%	-1,100%	-29%	177%	122%	195%	-45%		2,100%	-689%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	241.44	184.28	261.39	21.67	16.89	23.64	45.57	93.45	26.47	93.50	52.64	39.06
Inventory Days	117.88	46.16	101.43	95.13	66.63	57.65	59.10	120.11	306.47	610.67	152.35	65.87
Days Payable	12.18	7.20	4.14	2.93	2.19	3.98	11.48	28.24	19.51	63.17	6.93	3.56
Cash Conversion Cycle	347.14	223.24	358.68	113.87	81.33	77.31	93.20	185.32	313.43	641.00	198.07	101.37
Working Capital Days	336.43	262.83	428.41	177.80	123.85	112.85	138.51	261.22	277.76	480.07	216.38	105.45
ROCE %	0.33%	-14.51%	1.13%	2.08%	2.87%	2.80%	1.84%	1.59%	-24.93%	1.23%	1.37%	4.00%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Manufacturing Sales
INR Hundreds

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Trading Sales
INR Hundreds

Number of Permanent Employees
Number

Trade Receivables Turnover Ratio
Percentage

Geography-wise Revenue: Central
INR Hundreds

Geography-wise Revenue: West
INR Hundreds

Shareholding Pattern

Numbers in percentages

2 Recently

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	52.03%	52.03%	52.03%	52.03%	52.03%	54.42%	56.69%	56.69%	56.69%	56.69%	56.69%	56.69%
	47.97%	47.97%	47.98%	47.98%	47.96%	45.59%	43.32%	43.31%	43.31%	43.31%	43.31%	43.32%
No. of Shareholders	9,709	9,682	9,683	9,721	9,828	9,828	10,460	10,645	10,757	10,693	10,637	10,609

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	52.03%	52.03%	52.03%	52.03%	52.03%	52.03%	52.03%	52.03%	56.69%	56.69%
	47.97%	47.97%	47.97%	47.97%	47.97%	47.97%	47.97%	47.96%	43.31%	43.32%
No. of Shareholders	8,926	8,928	8,919	8,922	8,923	9,408	9,709	9,828	10,757	10,609

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Panjon Ltd

Panjon Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports