BSE: 508941
PANASONIC CARBON INDIA CO.LTD.
Manufactures carbon rods, a single product, supplying them to Panasonic group entities. The company is classified under Electrodes & Refractories within the Industrial Products sector, is based in Chennai, and is listed only on BSE. In FY26, revenue was ₹54.7408 crore and net profit was ₹21.2386 crore, with total assets of ₹193.5577 crore. The cost base is led by materials at 25.7% of revenue, followed by employee costs at 19.5% and other operating expenses at 21.6%. The company has not issued any non-convertible securities and operates as a single-product manufacturer with sales structured as related-party transactions. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Carbon rods. Single-product, related-party dependent industrial manufacturer
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 50 | 50 | 51 | 54 | 55 |
| EBITDA (ex other income) | 15 | 11 | 15 | 17 | 18 |
| margin % | 29.6 | 21.6 | 29.9 | 31.2 | 33.1 |
| Owners' profit | 15 | 13 | 19 | 21 | 21 |
| EPS, as reported (₹) | 31.98 | 26.72 | 38.73 | 43.39 | 44.25 |
| ROE % · ROCE % | 11.2 · 14.9 | 8.9 · 11.7 | 11.9 · 15.9 | 12.1 · 16.2 | 11.3 · 16.0 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 8 | 9 | 2 | 8 | 11 |
| 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 | 15 | 13 | 13 | 13 | 16 | 17 | 12 | 10 |
| Profit before tax | 8 | 7 | 7 | 7 | 8 | 10 | 6 | 6 |
| Net profit | 6 | 5 | 5 | 5 | 6 | 6 | 4 | 5 |
| EPS (₹) | 12.47 | 10.30 | 10.39 | 10.16 | 13.12 | 12.34 | 9.28 | 9.50 |
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. % |
|---|---|---|---|---|---|---|---|---|
| GRAPHITE INDIA LTD | 14,304 | 41.2 | 2.44 | 40.3 | 2.9 | 4.0 | 7.8 | 28.6 |
| RAGHAV PRODUCTIVITY ENH L | 8,101 | 129.1 | 33.13 | 104.7 | 22.4 | 27.4 | 31.8 | 30.8 |
| VESUVIUS INDIA LTD | 7,765 | 30.3 | 4.44 | — | 6.5 | 8.6 | — | 18.0 |
| RHI MAGNESITA INDIA LTD | 7,310 | — | 2.05 | — | (10.8) | (8.2) | 24.0 | 14.5 |
| HEG ADVANCED MATERIAL LTD | 4,404 | 12.3 | 0.93 | 9.6 | 7.2 | 5.9 | 15.4 | 28.5 |
| IFGL REFRACTORIES LIMITED | 1,226 | 29.9 | 1.04 | 9.7 | 3.0 | 3.6 | 13.1 | 7.8 |
| FOSECO CRUCIBLE INDIA LIMITED | 1,086 | 58.0 | 7.75 | — | 13.4 | 18.8 | — | (1.0) |
| ORIENT CERATECH LIMITED | 471 | 18.1 | 1.56 | 9.8 | 7.2 | 8.4 | — | 17.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.5 | 30.3 | 1 of 9 | 100% |
| P/B | 1.0 | 2.3 | 2 of 10 | 89% |
| ROCE | 16.1 | 8.6 | 4 of 11 | 70% |
| ROE | 11.3 | 7.1 | 3 of 10 | 78% |
| Debt / Equity | 0.0 | 0.0 | 1 of 10 | 67% |
| EBITDA margin | 62.5 | 18.0 | 1 of 11 | 100% |
| Revenue growth | (19.8) | 5.6 | 11 of 11 | 0% |
| Profit growth | (6.5) | 57.8 | 9 of 11 | 20% |
| Market cap | 181 | 1226 | 10 of 11 | 10% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Quarterly demat compliance certificate from registrar | compliance | minimal | — | — |
| 5 Oct 2026 · Reg 57(5) SEBI LODR not applicable to company | compliance | minimal | — | — |
| 29 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 14 Aug 2026 · Panasonic Carbon India Q1 FY27 Results Published in Newspaper | compliance | minimal | — | — |
| 13 Aug 2026 · Panasonic Carbon Q1 FY27 PAT falls 32% to 4.26 crore on revenue decline | results | high | — | — |
| 13 Aug 2026 · Panasonic Carbon India Q1 FY27: PAT falls 32 percent YoY to INR 4.26 cr | results | high | — | — |
| 31 Jul 2026 · Board meeting on 13 Aug 2026 to approve Q1 FY27 unaudited results | results | low | — | — |
| 8 Jul 2026 · Compliance certificate on securities dematerialization for Q1 FY27 | compliance | minimal | — | — |
| 8 Jul 2026 · Reg 57(5) not applicable — no non-convertible securities issued | compliance | minimal | — | — |
| 30 Jun 2026 · Panasonic Carbon 44th AGM: all 7 resolutions passed with 100 percent approval | board shareholder meetings | low | — | — |
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.