Panasonic Energy India Company Ltd

₹ 318 1.05%
Jan 25 11:01 a.m.
About

Panasonic Energy India Company is engaged in business of manufacturing dry cell batteries and lighting products. The company is a part of Panasonic Corporation.

Key Points

Product Portfolio:[1]
Zinc Dry: The company has market share of about 15% plus in Zinc dry batteries. The company offers zinc carbon batteries under a range of models, including Panasonic Gold, Panasonic Hyper, Panasonic Novino Raja, Panasonic Jumbo, Panasonic Ultimate, Panasonic Gold Plus, etc.
Eneloop: This is the brand name of rechargeable batteries sold by the company. Rechargeable battery market contributes around 1% to total battery demand
EVOLTA: This is the name of the premium Alkaline AA/AAA batteries sold by the company. These batteries are 20 times more longer lasting as compared to standard Zinc Carbon Batteries. These are suitable for use in shavers, toys, digital cameras, remote controls, instruments and security systems
Lithium Coin: The company has introduced new models in this segment over last couple of years.

  • Market Cap 239 Cr.
  • Current Price 318
  • High / Low 414 / 196
  • Stock P/E 18.5
  • Book Value 143
  • Dividend Yield 2.52 %
  • ROCE 14.3 %
  • ROE 10.4 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 72.82%

Cons

  • The company has delivered a poor sales growth of -0.76% over past five years.
  • Company has a low return on equity of 6.25% for 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

Sector: Dry cells Industry: Dry Cells

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Quarterly Results

Figures in Rs. Crores

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
52.59 46.17 47.92 55.19 57.03 43.39 33.83 69.45 66.87 62.20 48.52 66.17
51.60 47.10 45.29 53.45 55.93 44.18 38.07 58.65 61.86 60.43 44.66 59.96
Operating Profit 0.99 -0.93 2.63 1.74 1.10 -0.79 -4.24 10.80 5.01 1.77 3.86 6.21
OPM % 1.88% -2.01% 5.49% 3.15% 1.93% -1.82% -12.53% 15.55% 7.49% 2.85% 7.96% 9.38%
Other Income 0.93 1.44 1.01 0.80 0.95 1.14 0.88 1.01 0.99 1.01 0.89 0.81
Interest 0.02 0.03 0.04 0.06 0.05 0.07 0.15 0.02 0.23 -0.01 0.02 0.04
Depreciation 0.70 0.70 0.72 0.75 0.86 0.83 0.72 0.74 0.57 0.83 0.78 0.78
Profit before tax 1.20 -0.22 2.88 1.73 1.14 -0.55 -4.23 11.05 5.20 1.96 3.95 6.20
Tax % 10.83% 104.55% 27.78% 24.28% 42.98% -61.82% 24.59% 26.79% 28.65% 13.27% 25.82% 26.29%
Net Profit 1.08 0.01 2.07 1.32 0.66 -0.89 -3.18 8.08 3.72 1.70 2.93 4.57
EPS in Rs 1.44 0.01 2.76 1.76 0.88 -1.19 -4.24 10.77 4.96 2.27 3.91 6.09

Profit & Loss

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
168 176 185 206 225 238 241 208 206 207 204 232 244
160 167 180 201 210 214 218 200 193 202 198 218 227
Operating Profit 8 8 5 5 14 24 23 8 12 5 5 14 17
OPM % 5% 5% 3% 3% 6% 10% 10% 4% 6% 2% 3% 6% 7%
Other Income 1 3 2 2 2 5 4 4 4 4 3 3 4
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 3 3 3 3 3 2 2 2 2 3 3 3 3
Profit before tax 6 8 4 4 13 27 25 10 14 6 5 14 17
Tax % -16% 30% 55% 34% 41% 34% 34% 37% 28% 21% 39% 26%
Net Profit 7 6 2 2 7 18 17 6 10 5 3 10 13
EPS in Rs 9.60 7.33 2.41 3.28 9.91 23.79 22.04 8.36 13.07 6.15 4.20 13.76 17.23
Dividend Payout % 21% 27% 83% 61% 35% 29% 32% 66% 54% 65% 95% 58%
Compounded Sales Growth
10 Years: 3%
5 Years: -1%
3 Years: 4%
TTM: 20%
Compounded Profit Growth
10 Years: 8%
5 Years: -8%
3 Years: 3%
TTM: 177%
Stock Price CAGR
10 Years: 18%
5 Years: -1%
3 Years: 12%
1 Year: 47%
Return on Equity
10 Years: 9%
5 Years: 7%
3 Years: 6%
Last Year: 10%

Balance Sheet

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
8 8 8 8 8 8 8 8 8 8 8 8 8
Reserves 57 60 60 61 65 77 87 90 95 93 92 99 100
Borrowings 0 -0 -0 -0 -0 -0 -0 -0 -0 -0 3 2 2
29 29 28 31 33 43 38 34 31 26 29 31 35
Total Liabilities 94 97 96 100 106 127 133 132 133 127 131 139 144
24 22 20 18 16 14 19 17 19 16 22 24 22
CWIP 1 0 0 -0 -0 5 -0 1 0 5 0 0 1
Investments 0 0 0 0 -0 -0 -0 -0 -0 -0 -0 -0 -0
69 74 76 82 90 108 114 114 114 105 108 116 121
Total Assets 94 97 96 100 106 127 133 132 133 127 131 139 144

Cash Flows

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
13 2 -2 -2 10 20 2 33 -2 8 -2 20
1 2 1 -0 1 -3 -3 -19 5 10 -10 -11
-2 -2 -2 -2 -2 -3 -6 -6 -5 -6 -4 -4
Net Cash Flow 12 1 -3 -4 9 14 -7 8 -1 12 -17 4

Ratios

Figures in Rs. Crores

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 30 37 39 44 43 43 55 14 9 5 8 9
Inventory Days 60 60 60 69 61 62 71 91 92 90 113 76
Days Payable 14 14 15 22 14 12 18 29 28 25 26 29
Cash Conversion Cycle 76 82 85 91 90 94 108 76 73 70 95 56
Working Capital Days 40 60 65 68 58 43 58 25 39 31 40 20
ROCE % 10% 11% 6% 6% 18% 33% 28% 11% 14% 6% 6% 14%

Shareholding Pattern

Numbers in percentages

Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021
58.06 58.06 58.06 58.06 58.06 58.06 58.06 58.06 58.06 58.06 58.06 58.06
3.43 3.31 2.88 2.87 2.52 2.52 0.00 0.00 0.00 0.00 0.00 0.00
0.01 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
38.51 38.64 39.07 39.07 39.42 39.42 41.94 41.94 41.94 41.94 41.94 41.94

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