BSE: 538860
PANAFIC INDUSTRIALS LTD
Panafic Industrials Ltd is registered with the RBI as a non-banking financial company (NBFC) and is listed on BSE. For FY26, revenue from operations was Rs 76.23 lakhs, up 15.7% from Rs 65.87 lakhs the prior year, while the company posted a net loss of Rs 236.83 lakhs as total expenses climbed to Rs 312.82 lakhs. The cost shape was dominated by employee cost at 33.2% of revenue and other operating expenses at 51%, with no materials, depreciation or capex disclosed; the FY26 results also flagged inventory purchases of Rs 510.42 lakhs and stock-in-trade diminution of Rs 7.34 crore valued at market price. Borrowings stood at Rs 860 lakhs against total equity of Rs 758.15 lakhs, and operating cash flow was negative at Rs 317.50 lakhs. The company undertook a rights issue in FY26, allotting 41.06 crore equity shares at Rs 1 each to raise up to Rs 41.06 crores, which expanded the share base roughly six-fold from 8.21 crore to 49.28 crore shares; four promoter family members subscribed to about 7.95 crore shares under the issue. The company qualifies as a small listed entity, with paid-up capital and net worth below the SEBI thresholds that trigger several corporate governance disclosures. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Revenue from operations. Small, loss-making NBFC with a negligible operating revenue base and a recent six-fold equity expansion via rights issue
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 1 | 1 | 1 | 1 |
| EBITDA (ex other income) | 0 | 0 | 0 | 0 | (2) |
| margin % | 11.8 | 22.9 | 5.4 | 6.3 | (310.4) |
| Owners' profit | 2 | 0 | 0 | 0 | (2) |
| EPS, as reported (₹) | 0.22 | 0.01 | 0.00 | 0.00 | (0.29) |
| ROE % · ROCE % | 18.9 · — | 1.1 · 1.7 | 0.2 · — | 0.3 · — | (31.2) · — |
| Debt / equity (x) | — | 0.00 | — | — | — |
| Cash from operations | 10 | 0 | (1) | (3) | (3) |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | (0) | 0 | 0 | 0 | (3) |
| Net profit | 0 | 0 | 0 | (0) | 0 | 0 | 0 | (3) |
| EPS (₹) | 0.02 | 0.00 | 0.01 | 0.00 | 0.01 | 0.01 | 0.02 | (0.32) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| BAJAJ FINANCE LIMITED | 5,70,768 | 28.1 | 4.88 | — | 16.5 | — | 25.2 | 70.7 |
| SHRIRAM FINANCE LIMITED | 1,94,820 | 14.6 | 2.96 | — | 15.2 | — | 22.5 | 74.7 |
| CHOLAMANDALAM IN & FIN CO | 1,31,798 | 22.8 | 4.33 | — | 17.2 | — | 26.5 | 71.2 |
| TATA CAPITAL LIMITED | 1,31,209 | 24.0 | 2.79 | — | 10.4 | — | — | 75.8 |
| MUTHOOT FINANCE LIMITED | 96,352 | 8.5 | 2.42 | — | 26.7 | — | 22.0 | 84.0 |
| SBI CARDS & PAY SER LTD | 50,202 | 22.1 | 3.19 | — | 13.8 | — | — | 33.1 |
| SUNDARAM FINANCE LTD | 43,766 | 19.6 | 2.94 | — | 13.8 | — | — | 78.4 |
| AUTHUM INVEST & INFRA LTD | 42,040 | 7.2 | 2.85 | — | 13.1 | — | — | 90.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 2.3 | 1.1 | 193 of 253 | 24% |
| ROE | (31.2) | 3.1 | 246 of 257 | 4% |
| EBITDA margin | (5154.7) | 48.6 | 247 of 249 | 1% |
| Revenue growth | (79.2) | 12.6 | 207 of 231 | 10% |
| Profit growth | (17217.0) | 7.8 | 250 of 251 | 0% |
| Market cap | 18 | 34 | 175 of 268 | 35% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Special window opened for physical share transfers | compliance | minimal | — | — |
| 19 Oct 2026 · Board approves filing RBI application to appoint Additional Director | regulatory legal | high | — | — |
| 16 Oct 2026 · Panafic Industrials renames to Panafic Investment and Finance | general | medium | — | — |
| 9 Oct 2026 · Certificate under SEBI Regulation 74(5) for quarter ended September 2026 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed for Q2 FY26 results period | compliance | minimal | — | — |
| 14 Sept 2026 · AGM results: all 6 resolutions passed, name change approved | board shareholder meetings | low | — | — |
| 11 Sept 2026 · 41st AGM held; special resolutions passed for company name change | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Notice of 41st AGM published in newspapers | compliance | minimal | — | — |
| 17 Aug 2026 · Notice of 41st AGM and Annual Report for financial year 2025-26 submitted | compliance | minimal | — | — |
| 17 Aug 2026 · Book closure from Sept 5 to Sept 11 for 41st AGM on Sept 11, 2026 | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.