PANCARBON
Panasonic Carbon India Co.Ltd financials
- Market cap
- ₹209 Cr
- Sector
- Capital Goods
What Panasonic Carbon India Co.Ltd does
Panasonic Carbon India Co. Limited manufactures carbon rods at its factory in Tada, Tirupati district, Andhra Pradesh. It supplies these carbon rods to battery manufacturers, including fellow Panasonic Group company Panasonic Energy India Co. Ltd (PECIN), and exports them through Panasonic Trading and Logistics Asia Pacific (PTLAP), Singapore, which handles intra-group logistics and supply-chain management for Panasonic companies across the Asia Pacific region. The company operates under technical collaboration with its parent, Panasonic Holdings Corporation, Japan.
Segments
- Carbon Rods
- Manufacturing plants
- 1 (Tada, Tirupati district, Andhra Pradesh)
- Product line
- Carbon rods (single product)
- Quality certifications
- ISO 9001:2015, ISO 14001:2015
- Export destination
- Singapore (via Panasonic Trading and Logistics Asia Pacific, serving Asia Pacific region)
Quarterly results
Q1 FY27: revenue down 30.1%, net profit down 32.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13 | 13 | 13 | 16 | 17 +29% | 12 −13% | 10 −20% | 11 −30% |
| EBITDA | 4 | 4 | 4 | 6 | 7 +65% | 3 −25% | 3 −14% | 3 −53% |
| Net profit | 5 | 5 | 5 | 6 | 6 +19% | 4 −11% | 5 −7% | 4 −32% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +28.8% YTD
YTD: ₹187.9 on 9 Oct 2014 → ₹242.1. High ₹281.6 (30 Oct 2014), low ₹187.9 (9 Oct 2014).
Financials, as filed
Revenue grew 3.3% a year over 2 years, FY24 to FY26. Operating margin widened to 33.1%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹51 Cr | ₹54 Cr | ₹55 Cr |
| Operating profit | ₹15 Cr | ₹17 Cr | ₹18 Cr |
| Operating margin | 29.9% | 31.2% | 33.1% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹19 Cr | ₹21 Cr | ₹21 Cr |
| Net margin | 36.2% | 38.6% | 38.8% |
| Cash from operations | ₹2 Cr | ₹8 Cr | ₹11 Cr |
| Free cash flow | ₹2 Cr | ₹8 Cr | ₹11 Cr |
| ROCE | 17.0% | 17.0% | 17.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr |
| Reserves | ₹123 Cr | ₹132 Cr | ₹139 Cr | ₹152 Cr | ₹174 Cr | ₹183 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹6 Cr | ₹6 Cr | ₹5 Cr | ₹6 Cr | ₹9 Cr | ₹6 Cr |
| Total liabilities | ₹134 Cr | ₹143 Cr | ₹149 Cr | ₹162 Cr | ₹187 Cr | ₹194 Cr |
| Fixed assets | ₹6 Cr | ₹6 Cr | ₹5 Cr | ₹5 Cr | ₹4 Cr | ₹4 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹128 Cr | ₹137 Cr | ₹144 Cr | ₹158 Cr | ₹183 Cr | ₹189 Cr |
| Total assets | ₹134 Cr | ₹143 Cr | ₹149 Cr | ₹162 Cr | ₹187 Cr | ₹194 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
The ownership split has held steady since Jun 2025. The shareholder count shrank 2% to 11,051.
- Promoters
- 63.3%
- Public
- 36.7%
Since Jun 2025
- Promoters 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 63.3%, Public 36.7%.Dec '23: Promoters 63.3%, Public 36.7%.Mar '24: Promoters 63.3%, Public 36.7%.Jun '24: Promoters 63.3%, Public 36.7%.Sep '24: Promoters 63.3%, Public 36.7%.Dec '24: Promoters 63.3%, Public 36.7%.Mar '25: Promoters 63.3%, Public 36.7%.Jun '25: Promoters 63.3%, Public 36.7%.Sep '25: Promoters 63.3%, Public 36.7%.Dec '25: Promoters 63.3%, Public 36.7%.Mar '26: Promoters 63.3%, Public 36.7%.Jun '26: Promoters 63.3%, Public 36.7%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Panasonic Carbon India Co.Ltd above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Panasonic Holdings Corporation | 63.27% | unchanged |
| Sharad Kanayalal Shah | 1.02% | unchanged |
| Laxmi Devi Jiwarajka | 0.00% | unchanged |
| Gopal Sitaram Jiwarajka | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
AttractiveTo justify its price of ₹242, this stock must grow earnings at -2% every year for 7 years. Our analysis caps realistic growth at ~7%. At that growth it is worth ₹387 — upside of 60%.
- Growth the price implies
- -1.7% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 6.9% a year
- net profit, FY24–FY26 · EPS 6.9%
- The gap
- -0.1 pp
- 60% downside if it only repeats history
Learn to analyse Panasonic Carbon India Co.Ltd
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