BSE: 524820 | NSE: PANAMAPET | Lubricants | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Panama Petrochem Ltd is a good quality company.
The key valuation ratios of Panama Petrochem Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Panama Petrochem Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.6% | 14.1% | 23.5% | 27.9% | 18.1% | 8.1% | 39% | 40.2% | 35.6% | 23.4% | - |
| Value Creation Index ⓘ | -0.3 | 0.0 | 0.7 | 1.0 | 0.3 | -0.4 | 1.8 | 1.9 | 1.5 | 0.7 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 730 | 665 | 725 | 1,170 | 1,078 | 813 | 1,202 | 1,540 | 1,708 | 1,725 | 1,730 |
| Sales YoY Gr. | - | -8.9% | 9.1% | 61.3% | -7.9% | -24.6% | 47.8% | 28.1% | 11% | 1% | - |
| Adj EPS ⓘ | 2.5 | 4 | 6.6 | 9.1 | 7.7 | 3.2 | 20.4 | 28.4 | 31.2 | 21.4 | 20.6 |
| YoY Gr. | - | 60.8% | 63.7% | 38.2% | -15.3% | -58.3% | 534% | 39.7% | 9.9% | -31.4% | - |
| BVPS (₹) ⓘ | 39.3 | 42.2 | 48.7 | 56.8 | 61.7 | 63.2 | 82.5 | 106.8 | 127.4 | 141.4 | 146.9 |
| Adj Net Profit ⓘ | 15.1 | 24.3 | 39.8 | 55 | 46.6 | 19.4 | 123 | 172 | 189 | 130 | 124 |
| Cash Flow from Ops. ⓘ | -5.5 | 20.3 | 36 | 28.7 | -47.4 | 166 | 30.9 | 151 | 144 | -32.1 | - |
| Debt/CF from Ops. ⓘ | -4.5 | 1.4 | 0.4 | 1 | -2.2 | 0 | 0.3 | 0 | 0 | -0.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 10% | 9.9% | 12.8% | 1% | ||||
| Adj EPS ⓘ | 27% | 22.7% | 1.7% | -31.4% | ||||
| BVPSⓘ | 15.3% | 18.1% | 19.7% | 11% | ||||
| Share Price | 22.8% | 37.1% | 4.3% | -0.4% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 6.4 | 9.9 | 14.5 | 17.2 | 13 | 5.1 | 27.9 | 30.1 | 26.7 | 15.9 | 14.3 |
| Op. Profit Mgn % ⓘ | 3.9 | 6.9 | 9.6 | 8.4 | 8.4 | 4.7 | 14.4 | 15.1 | 15.5 | 11 | 10.4 |
| Net Profit Mgn % ⓘ | 2.1 | 3.7 | 5.5 | 4.7 | 4.3 | 2.4 | 10.2 | 11.2 | 11.1 | 7.5 | 7.2 |
| Debt to Equity ⓘ | 0.1 | 0.1 | 0 | 0.1 | 0.3 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 146 | 163 | 176 | 189 | 245 | 257 | 173 | 182 | 179 | 184 | 81 |
| Cash Conv. Cycle ⓘ | 37 | 48 | 45 | 37 | 67 | 95 | 55 | 50 | 53 | 84 | 55 |
Sales growth is growing at healthy rate in last 3 years 12.79%
Return on Equity has declined versus last 3 years average to 14.30%
Net Profit has been subdued in last 3 years 1.72%
Sales growth is not so good in last 4 quarters at 5.01%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 20.6 | 32.5 |
| TTM Sales (₹ Cr.) | 1,730 | 2,622 |
| BVPS (₹.) ⓘ | 146.9 | 194.1 |
| Reserves (₹ Cr.) ⓘ | 877 | 1,162 |
| P/BV ⓘ | 2.11 | 1.60 |
| PE ⓘ | 15.06 | 9.53 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 290.60 / 452.45 |
| All Time Low / High (₹) | 0.14 / 452.45 |
| Market Cap (₹ Cr.) | 1,873 |
| Equity (₹ Cr.) | 12.1 |
| Face Value (₹) | 2 |
| Industry PE ⓘ | 19.7 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 730 | 665 | 725 | 1,170 | 1,078 | 813 | 1,202 | 1,540 | 1,708 | 1,725 |
| Operating Expenses ⓘ | 703 | 625 | 657 | 1,073 | 999 | 777 | 1,031 | 1,308 | 1,456 | 1,536 |
| Manufacturing Costs | 21 | 22 | 20 | 24 | 27 | 28 | 32 | 32 | 30 | 31 |
| Material Costs | 642 | 554 | 589 | 980 | 890 | 687 | 892 | 1,149 | 1,304 | 1,412 |
| Employee Cost | 4 | 5 | 6 | 7 | 8 | 9 | 25 | 20 | 21 | 12 |
| Other Costs ⓘ | 37 | 45 | 43 | 62 | 74 | 53 | 82 | 107 | 102 | 81 |
| Operating Profit ⓘ | 26 | 40 | 68 | 97 | 79 | 36 | 172 | 231 | 252 | 189 |
| Operating Profit Margin (%) | 3.6% | 6.0% | 9.4% | 8.3% | 7.3% | 4.4% | 14.3% | 15.0% | 14.8% | 11.0% |
| Other Income ⓘ | 1 | 2 | 4 | 1 | 3 | 4 | 7 | 6 | 6 | 11 |
| Interest ⓘ | 7 | 7 | 7 | 12 | 20 | 13 | 6 | 4 | 10 | 17 |
| Depreciation ⓘ | 3 | 3 | 3 | 3 | 4 | 5 | 5 | 5 | 6 | 7 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 18 | 32 | 63 | 84 | 58 | 22 | 168 | 227 | 242 | 177 |
| Tax ⓘ | 4 | 12 | 22 | 29 | 20 | 3 | 44 | 56 | 62 | 46 |
| Profit After Tax | 14 | 20 | 41 | 54 | 38 | 18 | 123 | 171 | 181 | 131 |
| PAT Margin (%) | 1.9% | 3.0% | 5.6% | 4.6% | 3.5% | 2.2% | 10.3% | 11.1% | 10.6% | 7.6% |
| Adjusted EPS (₹) | 2.3 | 3.3 | 6.8 | 9.0 | 6.3 | 3.0 | 20.4 | 28.3 | 29.9 | 21.7 |
| Dividend Payout Ratio (%) | 59% | 10% | 10% | 13% | 19% | 40% | 10% | 28% | 27% | 32% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 238 | 255 | 294 | 344 | 373 | 382 | 499 | 646 | 771 | 855 |
| Share Capital ⓘ | 8 | 8 | 8 | 12 | 12 | 12 | 12 | 12 | 12 | 12 |
| Reserves ⓘ | 230 | 247 | 286 | 332 | 361 | 370 | 487 | 634 | 759 | 843 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 24 | 29 | 13 | 30 | 105 | 1 | 8 | 0 | 0 | 25 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 24 | 29 | 13 | 30 | 105 | 1 | 8 | 0 | 0 | 25 |
| Trade Payables | 180 | 144 | 253 | 497 | 279 | 220 | 279 | 420 | 248 | 227 |
| Others Liabilities ⓘ | 29 | 28 | 47 | 89 | 93 | 89 | 120 | 160 | 209 | 198 |
| Total Liabilities ⓘ | 471 | 456 | 607 | 959 | 850 | 693 | 905 | 1,225 | 1,228 | 1,306 |
Fixed Assets | ||||||||||
| Gross Block | 93 | 99 | 104 | 111 | 128 | 137 | 151 | 197 | 221 | 275 |
| Accumulated Depreciation | 17 | 20 | 22 | 25 | 28 | 32 | 37 | 41 | 46 | 51 |
| Net Fixed Assetsⓘ | 76 | 79 | 82 | 86 | 100 | 105 | 114 | 155 | 175 | 223 |
| CWIP ⓘ | 0 | 0 | 4 | 12 | 11 | 17 | 22 | 5 | 13 | 1 |
| Investmentsⓘ | 52 | 54 | 53 | 52 | 52 | 52 | 52 | 57 | 56 | 54 |
| Inventories | 153 | 135 | 230 | 395 | 311 | 192 | 260 | 439 | 277 | 361 |
| Trade Receivables | 149 | 135 | 176 | 279 | 264 | 191 | 293 | 265 | 313 | 379 |
| Cash Equivalents | 12 | 11 | 16 | 26 | 5 | 34 | 42 | 120 | 169 | 63 |
| Others Assetsⓘ | 30 | 41 | 46 | 109 | 108 | 102 | 122 | 185 | 224 | 225 |
| Total Assets ⓘ | 471 | 456 | 607 | 959 | 850 | 693 | 905 | 1,225 | 1,228 | 1,306 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -5 | 20 | 36 | 29 | -47 | 166 | 31 | 151 | 144 | -32 |
| PBT ⓘ | 18 | 32 | 63 | 84 | 58 | 22 | 168 | 227 | 242 | 177 |
| Adjustment ⓘ | 12 | 10 | 2 | 25 | 14 | 20 | 7 | 8 | 4 | 16 |
| Changes in Working Capital ⓘ | -31 | -12 | -10 | -49 | -99 | 130 | -104 | -25 | -41 | -180 |
| Tax Paid ⓘ | -4 | -9 | -19 | -30 | -20 | -6 | -39 | -59 | -61 | -45 |
| Cash Flow From Investing Activity ⓘ | -4 | -7 | -9 | -15 | -20 | -15 | -12 | -110 | -77 | 85 |
| Capex | -3 | -7 | -9 | -21 | -21 | -14 | -19 | -29 | -34 | -49 |
| Net Investments | 0 | -2 | -2 | 6 | 0 | -2 | 3 | -78 | -49 | 126 |
| Others ⓘ | -1 | 2 | 2 | 1 | 2 | 1 | 4 | -3 | 5 | 9 |
| Cash Flow From Financing Activityⓘ | -5 | -12 | -25 | 0 | 47 | -126 | -7 | -37 | -64 | -39 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -7 | -7 | -7 | -12 | -20 | -13 | -6 | -4 | -10 | -16 |
| Dividend Paid ⓘ | -6 | -10 | -2 | -4 | -7 | -7 | -7 | -24 | -54 | -48 |
| Others ⓘ | 8 | 4 | -16 | 16 | 74 | -105 | 7 | -8 | 0 | 25 |
| Net Cash Flow ⓘ | -14 | 1 | 2 | 14 | -20 | 25 | 12 | 5 | 2 | 14 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 5.83 | 8.19 | 14.9 | 17.04 | 10.6 | 4.82 | 28.01 | 29.95 | 25.49 | 16.14 |
| ROCE (%) | 9.6 | 14.12 | 23.47 | 27.93 | 18.14 | 8.12 | 38.97 | 40.18 | 35.61 | 23.44 |
| Asset Turnover Ratio | 1.71 | 1.56 | 1.49 | 1.52 | 1.19 | 1.05 | 1.5 | 1.45 | 1.39 | 1.36 |
| PAT to CFO Conversion(x) | -0.36 | 1 | 0.88 | 0.54 | -1.24 | 9.22 | 0.25 | 0.88 | 0.8 | -0.24 | Working Capital Days |
| Receivable Days | 65 | 72 | 72 | 70 | 92 | 102 | 73 | 66 | 62 | 73 |
| Inventory Days | 65 | 73 | 84 | 96 | 119 | 113 | 69 | 83 | 76 | 67 |
| Payable Days | 101 | 107 | 123 | 140 | 159 | 133 | 102 | 111 | 93 | 61 |
Panama Petrochem established in 1975 is one of India’s leading manufacturers and exporters of petroleum specialty products. Their focus is to consistently provide quality services. Their petroleum products are in great demand for various industries like inks and resins, textiles, rubber, pharmaceuticals, cosmetics, power, cables and other different industrial purposes. Panama Petrochem Limited is also listed on the Mumbai Stock Exchange.
Panama Petrochem manufactures more than 80 product variants vital for nearly six to seven industry segments. They are in league with the giants of each industry. They are in collaboration with Lubcon, Germany for distribution of their specialized products . Last but certainly not the least, they also furnish various Power Generation Boards and Atomic Research Centers with their required products. Since they realize how significant every client is to them, they keep in mind each client’s specifications and needs, ensuring customer satisfaction and an excellent rapport. This policy that they follow guarantees little scope for dissatisfaction from the customer’s end.
Their business is spread across India in the form of four manufacturing plants at Ankleshwar(Gujarat), Daman(Union Territory), Marol (Mumbai) and Taloja (Dist. Raigadh). Panama Petrochem Ltd. is progressing every day, and their increasing turnover and better results period after period proves this.
The company is in the field of petroleum speciality oils and solvents for more than 25 years. Its Ankleshwar Plant is one of the best of its kind in terms of huge production capacity with large storage tanks and warehouses.
The company’s specialization and expertise is their strength so that they continuously add new and more value-added products in their list so as to serve the niche market and stay always abreast of their competitors. They have procured all the required statutory approvals that permit them to supply their various oil products to the different industries. Their clients have complete faith in the quality of each of their products, which is why they have received a great response from customer’s end.
By exploring international markets, Panama Petrochem continuously aims to bring about a rise in the exports. They export a variety of their products like Petroleum Jelly, Liquid Paraffin, Transformer Oil and Rubber Process Oil to different countries like USA, UK, Europe, Middle East, Australia, African Sub-continent, South East Asia etc . Good infrastructure for the company and their state-of-the-art Research and Development center help them to simultaneously cater to domestic and international needs.
Product range of the company includes:
It also manufactures Ink Oils (Solvents for Printing Inks & Resins) of various grades and can also supply as per customers specification. Its Ink oils find good market in different printing ink & resin manufacturers. Recently the company has developed wax blends & highly aromatic petroleum oils for rubber industries, which are well accepted by some of the leading tyre manufacturers.
The company provides their petroleum specialty products to:
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
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