Audited Financial Results for the year ended on March 31, 2026 attached herewith.
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Panasonic Energy India reported a qualified opinion from auditors BSR & Co due to non-compliance with Battery Waste Management Rules 2022, where no provision was recognized pending government clarification. Revenue from operations grew marginally to ₹27,003.18 lakhs (up 0.6% from ₹26,841.47 lakhs). However, profit after tax dropped significantly to ₹348.68 lakhs from ₹1,177.31 lakhs in the prior year—a 70% decline driven by ₹339.77 lakhs exceptional charge for new labour code implementation. The board recommended dividend of ₹1.95 per share (19.50%). The company also changed depreciation method from WDV to straight-line, increasing depreciation by ₹57.61 lakhs.
The sharp 70% PAT decline combined with the auditor's qualified opinion on environmental compliance risk creates concern for investors. The unqualified dividend recommendation provides some investor compensation, but the underlying business profitability deterioration needs monitoring.