Panama Petrochem Limited (PANAMAPET.NS) 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

+134.1%

₹1,077.78

vs ₹460.45 price

Levered DCF

₹417.57

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

7.56

Safe zone

Rating

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	6.61×	12.31×	10.38×	7.59×	6.96×	6.48×	5.93×	15.37×
P/B	0.96×	1.83×	1.84×	1.86×	2.09×	1.56×	0.39×	1.93×
P/S	0.46×	0.82×	0.86×	0.79×	0.75×	0.61×	0.17×	0.63×
EV / EBITDA	4.97×	8.37×	7.3×	5.3×	5.29×	4.45×	3.36×	9.68×
Gross margin	15.5%	15.9%	16.2%	21.4%	21.8%	22.0%	13.4%	14.4%
Operating margin	8.5%	8.4%	10.5%	13.9%	13.7%	12.8%	5.1%	8.4%
Net margin	6.9%	6.7%	8.3%	10.4%	10.8%	9.4%	2.9%	4.1%
Current ratio	3.69×	5.18×	3.81×	3.56×	2.13×	1.86×	1.8×	1.5×
Debt / equity	0.08×	0.03×	0.02×	0×	0.04×	0.12×	0.12×	0.39×
Interest coverage	21.89×	12.9×	13.8×	26.99×	41.33×	20.75×	2.93×	4.24×
Dividend yield	1.3%	1.6%	2.4%	3.1%	1.5%	0.8%	4.2%	0.9%
Payout ratio	8.6%	19.3%	24.7%	23.3%	10.5%	5.3%	25.1%	14.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	14.5%	14.9%	17.7%	24.5%	30.0%	24.1%	6.6%	12.5%
Return on invested capital	13.3%	14.7%	17.6%	25.6%	29.1%	22.0%	9.3%	13.3%
Return on assets	11.1%	12.3%	13.8%	18.9%	18.4%	13.6%	3.8%	5.6%
Free cash flow yield	-9.4%	5.9%	-3.8%	9.9%	8.7%	3.5%	92.8%	-12.7%
Earnings yield	15.1%	8.1%	9.6%	13.2%	14.4%	15.4%	16.8%	6.5%
Enterprise value	₹14.3B	₹21.7B	₹19.6B	₹16.7B	₹15.7B	₹8.7B	₹1.9B	₹9.5B
Net debt / EBITDA	0.1×	-0.52×	-0.26×	-0.3×	-0.11×	-0.02×	0.36×	1.55×
Cash conversion cycle (days)	123	98	115	69	68	12	90	114