BSE: 508941 | NSE: PANCARBON | Electrodes & Welding Equipment | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that Panasonic Carbon India Company Ltd is a good quality company.
The key valuation ratios of Panasonic Carbon India Company 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 Panasonic Carbon India Company 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 % ⓘ | 22% | 29.8% | 30% | 18.9% | 17.6% | 20.9% | 21.1% | 15.5% | 12.5% | 16.7% | - |
| Value Creation Index ⓘ | 0.6 | 1.1 | 1.1 | 0.4 | 0.3 | 0.5 | 0.5 | 0.1 | -0.1 | 0.2 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 41.3 | 49 | 48.9 | 43.8 | 45.3 | 45 | 48.9 | 50 | 50.1 | 51.3 | 54 |
| Sales YoY Gr. | - | 18.6% | -0.3% | -10.3% | 3.3% | -0.6% | 8.7% | 2.2% | 0.3% | 2.4% | - |
| Adj EPS ⓘ | 19 | 27.9 | 31.7 | 25.5 | 25.4 | 35.1 | 39.5 | 31.7 | 26.5 | 38.6 | 42.6 |
| YoY Gr. | - | 46.6% | 13.5% | -19.3% | -0.6% | 38% | 12.7% | -19.7% | -16.6% | 45.9% | - |
| BVPS (₹) ⓘ | 137.9 | 153.9 | 186.8 | 200.2 | 213.7 | 236.4 | 265.6 | 285.4 | 300.1 | 326.7 | 337.5 |
| Adj Net Profit ⓘ | 9.1 | 13.4 | 15.2 | 12.3 | 12.2 | 16.8 | 19 | 15.2 | 12.7 | 18.5 | 20 |
| Cash Flow from Ops. ⓘ | 3.7 | 8.5 | 10.5 | 9.1 | 7.9 | 9.7 | 12.1 | 7.9 | 9.5 | 2.3 | - |
| Debt/CF from Ops. ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 2.4% | 2.5% | 1.6% | 2.4% | ||||
| Adj EPS ⓘ | 8.2% | 8.7% | -0.8% | 45.9% | ||||
| BVPSⓘ | 10.1% | 8.9% | 7.1% | 8.9% | ||||
| Share Price | 9.6% | 13.6% | 10.1% | 29.2% | ||||
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 % ⓘ | 14.3 | 19.1 | 18.6 | 13.2 | 12.3 | 15.6 | 15.7 | 11.5 | 9.1 | 12.3 | 12.8 |
| Op. Profit Mgn % ⓘ | 22 | 31.5 | 36.1 | 28 | 25 | 34.2 | 38.1 | 29.6 | 21.6 | 29.9 | 31.9 |
| Net Profit Mgn % ⓘ | 22.1 | 27.3 | 31.1 | 28 | 26.9 | 37.4 | 38.8 | 30.5 | 25.4 | 36.1 | 38.1 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 266 | 233 | 145 | 77 | 88 | 157 | 197 | 589 | 1,009 | 1,063 | 472 |
| Cash Conv. Cycle ⓘ | 9 | 5 | 0 | 5 | 8 | 11 | 15 | 24 | 26 | 15 | 452 |
Return on Equity has increased versus last 3 years average to 12.80%
Sales growth is good in last 4 quarters at 17.47%
Sales growth has been subdued in last 3 years 1.61%
Net Profit has been subdued in last 3 years -0.76%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 42.6 | - |
| TTM Sales (₹ Cr.) | 53.6 | - |
| BVPS (₹.) ⓘ | 337.5 | - |
| Reserves (₹ Cr.) ⓘ | 163 | - |
| P/BV ⓘ | 1.72 | - |
| PE ⓘ | 13.67 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 420.50 / 739.00 |
| All Time Low / High (₹) | 28.80 / 1105.00 |
| Market Cap (₹ Cr.) | 279 |
| Equity (₹ Cr.) | 4.8 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 40.2 |
| 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 | 41 | 49 | 49 | 44 | 45 | 45 | 49 | 50 | 50 | 51 |
| Operating Expenses ⓘ | 32 | 34 | 31 | 32 | 34 | 30 | 30 | 35 | 39 | 36 |
| Manufacturing Costs | 10 | 10 | 9 | 9 | 9 | 8 | 8 | 8 | 9 | 9 |
| Material Costs | 14 | 15 | 13 | 13 | 15 | 12 | 12 | 16 | 19 | 15 |
| Employee Cost | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 9 | 9 | 9 |
| Other Costs ⓘ | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Operating Profit ⓘ | 9 | 15 | 18 | 12 | 11 | 15 | 19 | 15 | 11 | 15 |
| Operating Profit Margin (%) | 22.0% | 31.5% | 36.0% | 27.9% | 25.0% | 34.2% | 37.9% | 29.6% | 21.6% | 29.9% |
| Other Income ⓘ | 6 | 6 | 6 | 7 | 8 | 8 | 8 | 7 | 7 | 10 |
| Interest ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation ⓘ | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Items ⓘ | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 14 | 21 | 25 | 18 | 18 | 23 | 25 | 20 | 17 | 25 |
| Tax ⓘ | 5 | 7 | 8 | 5 | 5 | 6 | 7 | 5 | 5 | 6 |
| Profit After Tax | 9 | 13 | 16 | 12 | 12 | 17 | 19 | 15 | 13 | 19 |
| PAT Margin (%) | 22.1% | 27.5% | 32.9% | 28.1% | 27.2% | 37.7% | 38.6% | 30.7% | 25.6% | 36.2% |
| Adjusted EPS (₹) | 19.0 | 28.1 | 33.5 | 25.6 | 25.6 | 35.3 | 39.4 | 32.0 | 26.7 | 38.7 |
| Dividend Payout Ratio (%) | 42% | 36% | 3% | 39% | 39% | 28% | 30% | 38% | 45% | 31% |
| 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 | 66 | 74 | 90 | 96 | 103 | 113 | 127 | 137 | 144 | 157 |
| Share Capital ⓘ | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Reserves ⓘ | 61 | 69 | 85 | 91 | 98 | 109 | 123 | 132 | 139 | 152 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Trade Payables | 4 | 3 | 4 | 4 | 3 | 2 | 3 | 3 | 2 | 3 |
| Others Liabilities ⓘ | 32 | 30 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Total Liabilities ⓘ | 102 | 107 | 97 | 103 | 109 | 119 | 134 | 143 | 149 | 162 |
Fixed Assets | ||||||||||
| Gross Block | 36 | 37 | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 12 |
| Accumulated Depreciation | 34 | 34 | 0 | 2 | 3 | 4 | 5 | 6 | 7 | 7 |
| Net Fixed Assetsⓘ | 3 | 3 | 10 | 9 | 8 | 7 | 6 | 6 | 5 | 5 |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Investmentsⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories | 2 | 3 | 2 | 3 | 2 | 2 | 2 | 3 | 3 | 2 |
| Trade Receivables | 4 | 3 | 4 | 3 | 3 | 3 | 5 | 5 | 3 | 4 |
| Cash Equivalents | 64 | 74 | 77 | 84 | 88 | 85 | 101 | 2 | 1 | 1 |
| Others Assetsⓘ | 28 | 25 | 3 | 4 | 7 | 21 | 19 | 127 | 137 | 151 |
| Total Assets ⓘ | 102 | 107 | 97 | 103 | 109 | 119 | 134 | 143 | 149 | 162 |
| 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 ⓘ | 4 | 8 | 10 | 9 | 8 | 10 | 12 | 8 | 9 | 2 |
| PBT ⓘ | 14 | 21 | 25 | 18 | 18 | 23 | 25 | 20 | 17 | 25 |
| Adjustment ⓘ | -5 | -5 | -5 | -4 | -5 | -6 | -6 | -5 | -6 | -9 |
| Changes in Working Capital ⓘ | -1 | -0 | -1 | 1 | 1 | -1 | -1 | -2 | 3 | -7 |
| Tax Paid ⓘ | -5 | -7 | -8 | -5 | -5 | -6 | -7 | -5 | -5 | -6 |
| Cash Flow From Investing Activity ⓘ | 5 | 5 | -3 | -4 | -2 | -4 | -7 | -2 | -5 | 3 |
| Capex | 0 | 0 | -8 | -1 | 0 | 0 | 0 | 0 | -1 | 0 |
| Net Investments | 0 | 0 | -2 | -9 | -8 | -11 | -13 | -7 | -11 | -3 |
| Others ⓘ | 5 | 6 | 6 | 5 | 6 | 7 | 6 | 6 | 7 | 6 |
| Cash Flow From Financing Activityⓘ | -4 | -5 | -6 | -6 | -6 | -6 | -5 | -6 | -6 | -6 |
| 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 ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Paid ⓘ | -4 | -5 | -6 | -6 | -5 | -5 | -5 | -6 | -6 | -6 |
| Others ⓘ | 0 | 0 | 0 | 0 | -1 | -1 | 0 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 5 | 9 | 1 | -1 | 0 | -1 | 1 | 1 | -1 | 0 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 14.28 | 19.22 | 19.67 | 13.25 | 12.38 | 15.69 | 15.69 | 11.61 | 9.13 | 12.36 |
| ROCE (%) | 21.96 | 29.84 | 29.99 | 18.87 | 17.63 | 20.94 | 21.08 | 15.47 | 12.45 | 16.65 |
| Asset Turnover Ratio | 0.45 | 0.49 | 0.5 | 0.45 | 0.43 | 0.39 | 0.39 | 0.36 | 0.34 | 0.33 |
| PAT to CFO Conversion(x) | 0.44 | 0.62 | 0.63 | 0.75 | 0.67 | 0.59 | 0.63 | 0.53 | 0.69 | 0.11 | Working Capital Days |
| Receivable Days | 31 | 26 | 25 | 26 | 24 | 26 | 30 | 36 | 29 | 23 |
| Inventory Days | 20 | 18 | 17 | 22 | 22 | 19 | 18 | 19 | 20 | 18 |
| Payable Days | 96 | 84 | 98 | 103 | 86 | 89 | 86 | 67 | 46 | 59 |
Panasonic Carbon India Company Ltd. (PCIN) formerly Indo Matsushita Carbon India Co. Ltd was incorporated on September 6, 1982.
The foundation stone of Panasonic Carbon India Co was laid on February 7, 1982 by T. Yamashita, President, Matsushita Electric Industrial Co.Ltd, Japan at Tada Mandal, Nellore District, Andhra Pradesh.
PCIN entered into a foreign collaboration agreement with Matsushita Group, Japan on 6th January 1982 for obtaining technical know-how and assistance for manufacture and sale of Midget Electrodes (Carbon Rods).
The company achieved success by setting up a quality management system. A system which ensures commitment of all employees towards compliance of stringent quality standards and also to meet the requirement of customers and achieve higher levels of customer satisfaction. A committed effort is to give more than what the customer needs from the companys products and services.
As part of this process the company established the Internationally accepted quality management system and got certified for ISO 9001:2000 Standards in October, 1995. Consequently series of, surveillance, inspection and recertification audits have become a part of an annual calendar of activities. This system has been successful in demonstrating company’s commitment to quality.
Product range of the company includes:
The company manufactures about 40 sizes and 6 Grades of Carbon Rods. These can be classified into five major categories such as UM-1(R-20/D size), UM-2(R-14/C size), UM-3(R-6/AA size), UM-4(R-3/AAA size) and special size carbon rods as per the customer’s requirements.
Achievements/ recognition:
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
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.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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