Panacea Biotec Ltd

₹ 363 3.70%

06 Oct - close price

panaceabiotec.com BSE: 531349 NSE: PANACEABIO

About

Incorporated in 1984, Panacea Biotec Ltd is a research-based biotechnology company^[1]

Key Points

Business Overview:^[1]
a) PBL is in the business of research, development, manufacture and marketing of branded vaccines, pharmaceutical formulations, nutraceuticals and food & nutrition products
b) It is one of the largest Vaccine Manufacturing Company in India and is acknowledged by the United Nations (UN) Health Agencies in partnering the Global Polio Eradication Initiative (GPEI) with supplies of billions of doses of WHO Pre-qualified Polio vaccines in 50+ countries worldwide as a sequel to the completion of full range of Oral polio vaccines (tOPV, mOPV1, mOPV3 & bOPV (Type1&Type3)
c) It is the first company to have developed fully liquid Pentavalent vaccine (DTwP-Hep B+Hib) EasyFive and world’s first fully-liquid wP-IPV based Hexavalent vaccine (DTwP +HepB +Hib +IPV) EasySix

Website BSE NSE

Market Cap ₹ 2,230 Cr.
Current Price ₹ 363
High / Low ₹ 648 / 292
Stock P/E
Book Value ₹ 46.5
Dividend Yield 0.00 %
ROCE -3.40 %
ROE -9.98 %
Face Value ₹ 1.00

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Pros

Cons

Stock is trading at 7.81 times its book value
Company has low interest coverage ratio.
Company has a low return on equity of -4.40% over last 3 years.
Earnings include an other income of Rs.19.1 Cr.

* 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

Healthcare Healthcare Pharmaceuticals & Biotechnology Pharmaceuticals

Part of BSE Healthcare

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	89.41	94.59	95.23	80.37	56.88	76.64	108.43	67.90	112.25	90.81	99.31	111.12	134.71
	82.60	84.63	88.59	89.61	67.37	69.90	93.04	86.47	115.27	104.51	100.69	110.82	127.41
Operating Profit	6.81	9.96	6.64	-9.24	-10.49	6.74	15.39	-18.57	-3.02	-13.70	-1.38	0.30	7.30
OPM %	7.62%	10.53%	6.97%	-11.50%	-18.44%	8.79%	14.19%	-27.35%	-2.69%	-15.09%	-1.39%	0.27%	5.42%
	3.34	2.13	3.05	16.39	3.80	3.41	3.32	6.09	4.95	3.61	3.84	5.60	6.06
Interest	3.46	3.55	3.41	3.36	3.21	3.76	3.85	4.64	6.00	5.93	7.04	6.33	6.89
Depreciation	5.40	5.34	5.21	5.14	5.08	5.09	5.21	4.91	4.77	4.91	4.89	4.18	4.47
Profit before tax	1.29	3.20	1.07	-1.35	-14.98	1.30	9.65	-22.03	-8.84	-20.93	-9.47	-4.61	2.00
Tax %	0.00%	0.00%	59.81%	1.48%	-8.01%	0.77%	0.00%	-43.76%	-24.21%	-25.27%	-22.28%	-96.10%	30.50%
	1.29	3.20	0.43	-1.37	-13.78	1.29	9.65	-12.39	-6.70	-15.64	-7.36	-0.18	1.39
EPS in Rs	0.21	0.52	0.07	-0.22	-2.25	0.21	1.57	-2.02	-1.09	-2.55	-1.20	-0.03	0.23
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	679	647	530	184	96	158	344	236	257	360	310	413	436
	612	534	460	192	243	248	343	308	320	345	317	431	443
Operating Profit	68	113	70	-8	-147	-90	0	-73	-63	14	-7	-18	-7
OPM %	10%	17%	13%	-4.4%	-152%	-57%	0.1%	-31%	-24%	3.9%	-2.2%	-4.3%	-1.7%
	28	75	16	84	322	-14	21	13	34	25	17	18	19
Interest	93	115	104	103	105	5	8	7	10	14	15	25	26
Depreciation	66	71	66	34	33	27	27	26	24	21	20	19	18
Profit before tax	-63	1	-84	-61	37	-136	-13	-94	-63	4	-26	-44	-33
Tax %	3%	38%	-14%	17%	29%	13%	12%	0%	40%	16%	-42%	-32%
	-65	1	-73	-72	27	-153	-14	-94	-88	4	-15	-30	-22
EPS in Rs	-10.64	0.14	-11.85	-11.73	4.33	-24.97	-2.36	-15.27	-14.28	0.58	-2.48	-4.88	-3.55
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	-4%
5 Years:	4%
3 Years:	17%
TTM:	19%

Compounded Profit Growth
10 Years:	3%
5 Years:	-21%
3 Years:	19%
TTM:	-167%

Stock Price CAGR
10 Years:	14%
5 Years:	6%
3 Years:	27%
1 Year:	-15%

Return on Equity
10 Years:	-17%
5 Years:	-13%
3 Years:	-4%
Last Year:	-10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	6	6	6	6	6	6	6	6	6	6	6	6
Reserves	517	518	450	382	412	887	502	409	320	323	308	279
	1,031	1,035	1,023	970	689	67	65	84	102	125	228	265
	325	248	303	316	335	179	217	263	296	300	327	302
Total Liabilities	1,879	1,807	1,782	1,673	1,442	1,138	790	762	724	754	869	852
	1,060	988	942	891	496	499	464	454	435	423	416	417
CWIP	17	19	28	37	3	4	13	1	28	97	119	131
Investments	395	395	345	345	3	3	0	0	0	0	0	0
	408	406	467	401	940	633	313	307	260	234	334	303
Total Assets	1,879	1,807	1,782	1,673	1,442	1,138	790	762	724	754	869	852

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	45	98	104	172	107	-83	38	-53	-11	33	4	-40
	-29	23	-18	-3	-10	-17	-37	40	2	-47	-61	-18
	-11	-129	-91	-164	-98	109	-7	10	9	13	90	23
Net Cash Flow	5	-8	-5	6	-2	10	-6	-3	1	-1	33	-36
Free Cash Flow	41	97	80	157	102	-69	28	-59	-10	-36	-49	-74
CFO/OP	71%	69%	140%	-2,130%	-73%	83%	8,010%	71%	15%	247%	-73%	201%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	54	80	121	283	96	41	37	36	17	11	25	27
Inventory Days	178	233	304	618	203	619	180	421	260	278	541	218
Days Payable	236	295	490	1,002	373	847	257	472	289	299	586	231
Cash Conversion Cycle	-4	17	-65	-102	-74	-188	-39	-15	-12	-10	-21	15
Working Capital Days	-229	-80	-133	-682	-49	892	4	-63	-135	-79	-104	-8
ROCE %	2%	4%	4%	3%	-14%	-8%	-1%	-16%	-13%	4%	-2%	-3%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

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Mar 2025

Countries Exported to (Pharmaceutical Formulations)
count

xx	xx	xx	xx	xx	xx	xx	xx	xx	xx
xx	xx	xx	xx	xx	xx	xx	xx	xx	xx
xx.xx	xxx.xx	xx.xx	xx.xx	xx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx
xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
xx,xxx	x,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	xxx	x,xxx	x,xxx	x,xxx
xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
x.xx	xx.xx	x.xx	xx.xx	x.xx	x.xx	x.xx	x.xx	x.xx	xx.xx

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Countries where Vaccines are Registered
count

Electricity Consumption per Unit (Vaccines)
kWh per 1000 doses

Patents Granted Globally
count

Pediatricians Covered
count

Total Distributors (Pharma + Vaccines)
count

Vaccine Production Volume
thousand doses

Vaccine Segment Revenue Share
%

R&D Expenditure (Percentage of Turnover)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.59%	73.59%	73.59%	73.47%	72.87%	72.49%	72.48%	72.48%	72.48%	72.48%	72.48%	72.48%
	0.26%	0.26%	0.27%	0.26%	0.37%	0.38%	1.16%	0.79%	1.06%	1.36%	1.60%	2.31%
	0.57%	0.69%	0.84%	1.07%	1.16%	1.16%	1.49%	1.52%	1.80%	1.85%	1.96%	2.25%
	25.58%	25.46%	25.30%	25.21%	25.60%	25.96%	24.86%	25.20%	24.65%	24.31%	23.96%	22.96%
No. of Shareholders	48,878	47,091	46,242	45,513	39,982	35,446	33,593	34,256	33,593	34,597	32,620	33,532

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.60%	74.07%	73.59%	73.59%	73.59%	73.59%	73.59%	73.59%	72.48%	72.48%	72.48%
	0.00%	0.00%	0.23%	0.00%	0.10%	0.00%	0.18%	0.27%	1.16%	1.60%	2.31%
	0.04%	0.12%	1.23%	1.61%	1.27%	0.00%	0.43%	0.84%	1.49%	1.96%	2.25%
	25.36%	25.81%	24.95%	24.79%	25.04%	26.41%	25.80%	25.30%	24.86%	23.96%	22.96%
No. of Shareholders	9,888	10,246	10,642	10,582	27,228	49,563	48,634	46,242	33,593	32,620	33,532

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Panacea Biotec Ltd

Panacea Biotec Ltd

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Quarterly Results

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Cash Flows

Ratios

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Shareholding Pattern

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