Panasonic Energy India Co. Ltd. (PANAENERG.BO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+2.2%

₹244.75

vs ₹239.50 price

Levered DCF

₹897.40

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	54.24×	22.07×	28.92×	-15.28×	22.24×	14.49×	25.64×	32.63×
P/B	1.83×	2.41×	3.28×	1.77×	1.92×	1.41×	0.82×	1.49×
P/S	0.7×	0.97×	1.15×	0.64×	0.87×	0.65×	0.4×	0.73×
EV / EBITDA	17.68×	14.01×	17.27×	-14.64×	12.54×	8.22×	8.99×	25.05×
Gross margin	14.0%	37.3%	34.3%	30.1%	37.8%	38.8%	37.7%	35.9%
Operating margin	2.3%	5.6%	17.2%	-3.4%	3.9%	4.9%	1.2%	1.3%
Net margin	1.3%	4.4%	4.0%	-4.2%	3.9%	4.5%	1.6%	2.2%
Current ratio	3.43×	2.93×	2.72×	2.51×	3.49×	3.4×	3.46×	3.94×
Debt / equity	0.01×	0.01×	0.01×	0.02×	0.02×	0.02×	0.03×	0×
Interest coverage	56.12×	94.15×	295.6×	-42.14×	48.13×	24.61×	7.51×	31.97×
Dividend yield	3.8%	2.6%	0.0%	3.4%	2.8%	2.0%	4.3%	3.5%
Payout ratio	206.2%	56.4%	0.0%	-51.4%	62.4%	28.6%	110.6%	113.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.4%	10.9%	11.3%	-11.6%	8.6%	9.7%	3.2%	4.6%
Return on invested capital	2.8%	8.8%	35.1%	-6.8%	6.3%	7.8%	1.4%	2.1%
Return on assets	2.4%	8.0%	8.1%	-7.9%	6.6%	7.4%	2.4%	3.6%
Free cash flow yield	7.7%	-0.2%	6.8%	-6.7%	-5.3%	10.6%	-5.9%	1.2%
Earnings yield	1.8%	4.5%	3.5%	-6.5%	4.5%	6.9%	3.9%	3.1%
Enterprise value	₹1.9B	₹2.6B	₹3.3B	₹1.6B	₹2B	₹1.4B	₹779.8M	₹1.3B
Net debt / EBITDA	0×	-0.09×	-0.11×	0.47×	-0.63×	-0.43×	-0.32×	-4.34×
Cash conversion cycle (days)	50	73	55	89	95	60	101	79