Panacea Biotec Limited (PANACEABIO)

Loading page…

Panacea Biotec Limited (PANACEABIO) · mywealthgrid

About

Panacea Biotec Limited is a mid-cap Indian pharmaceutical and biotechnology company with a market capitalisation of ₹2,430 Cr. The company operates in a competitive healthcare sector where profitability has been inconsistent in recent quarters, with net profit ranging from losses of ₹15.64 Cr to gains of ₹3.96 Cr.

Founded: 1984
Face value: ₹1

Market cap

₹2,201 Cr

P/E

—

P/B

2.6×

Dividend yield

ROE

-0.6%

ROCE

-2.3%

Debt / equity

0.03

OPM

-0.7%

EPS (TTM)

₹-1.2

Book value

₹136.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Extreme profitability volatility: Net profit swung from -₹15.64 Cr (Sep 2025) to +₹3.96 Cr (Jun 2025); OPM ranged -15.09% to +7.11%. Verify root causes and whether underlying business has stabilised.

Negative shareholder returns: ROE -0.64%, PE n/a, and 1y stock return -3.45% signal persistent value destruction. Verify if turnaround is credible.

No dividend payouts for ~15 years despite recent profitable quarters — verify whether cash generation is insufficient or reinvestment strategy is in place.

Pharma sector headwinds: Generic price compression, regulatory pricing controls, competitive intensity; verify Panacea's segment mix and competitive positioning.

Generated analysis · source review pending

Growth drivers

Sporadic profitable quarters (Dec 2025: ₹3.89 Cr, Jun 2025: ₹3.96 Cr) break a pattern of losses — verify if driven by structural improvement, volume recovery, or one-time gains.

Multiple revenue streams evidenced by dual quarterly metrics (₹90–167 Cr range) suggest diversified business; verify which segments are growing and margin trajectories.

Low leverage (D/E 0.03) provides financial headroom for R&D, capex, or M&A — verify if management deploying to drive market share or product innovation.

Indian pharma sector fundamentals: Growing generic and biosimilar demand; verify Panacea's R&D pipeline, therapeutic focus, and domestic vs. export exposure.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹359.1-4.3%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+High promoter holding of 72.5% with no pledge

Cons

−Low return on equity of -0.6% (3-yr avg)
−Modest revenue growth of 0.5% a year over the last 5 years
−Weak interest coverage of -3.4×

Research score

Structured signal from quality, growth, valuation and momentum.

35/100

Business quality: 20
Growth: 43
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	653	558	596	457	544	625	661	460	559	559	640
COGS	-8	13	187	172	157	205	262	253	230	200	280
Gross profit	—	545	409	284	387	420	399	207	329	360	359
	—	483	323	416	356	343	413	305	349	385	364
	—	62	86	-131	32	77	-14	-98	-20	-26	-5
OPM %	—	11.2%	14.5%	-28.7%	5.8%	12.3%	-2.1%	-21.3%	-3.6%	-4.6%	-0.7%
Depreciation	73	68	57	54	43	46	44	39	37	35	33
Interest	127	101	101	105	174	185	181	4	4	4	6
	70	54	342	338	8	9	1,687	154	62	57	36
Profit before tax	—	—	—	—	-178	-146	1,449	13	1	-8	-7
Tax	2	-11	10	8	17	2	371	47	3	1	-0
Tax %	—	—	—	—	9.4%	1.4%	25.6%	363.7%	201.4%	9.7%	-2.9%
	-18	-56	-76	38	-194	-148	1,078	-34	-2	-9	-7
PAT margin %	-2.8%	-10.1%	-12.8%	8.3%	-35.7%	-23.6%	163%	-7.3%	-0.3%	-1.6%	-1.1%
EPS (₹)	—	—	—	—	-31.7	-24.1	176	-5.5	-0.2	-1.4	-0.9
EPS adjusted (₹)	-0.8	-9.2	-12.4	6.2	-31.7	-24.1	175.8	-5.5	-0.2	-1.4	-0.9
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	22	6	6	6	6	6	6	6	6	6	6
Reserves	449	397	303	344	193	-235	871	837	836	829	829
Minority interest	—	12	—	—	—	—	—	—	—	—	—
	1,059	975	736	116	617	735	34	20	21	22	24
	324	412	563	910	575	671	848	407	378	433	404
Total equity & liabilities	1,854	1,803	1,608	1,376	1,390	1,178	1,759	1,271	1,241	1,290	1,262
	1,071	1,053	948	806	657	609	622	600	569	551	560
CWIP	—	11	8	8	10	21	5	28	75	94	100
Investments	9	8	7	5	6	0	5	13	53	19	26
	775	730	645	556	718	548	1,127	630	544	626	577
Total assets	1,854	1,803	1,608	1,376	1,390	1,178	1,759	1,271	1,241	1,290	1,262

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Vaccines	410.25	-26.84	870.14	302.02	568.12	-4.72
Formulations	229.52	19.47

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	62.3%	71.2%	67.2%	60.3%	45.1%	58.8%	64.3%	56.2%
EBITDA margin %	-28.7%	5.8%	12.3%	-2.1%	-21.3%	-3.6%	-4.6%	-0.7%
EBIT margin %	-40.5%	-2.2%	5%	-8.7%	-29.8%	-10.2%	-10.9%	-5.9%
PAT margin %	8.3%	-35.7%	-23.6%	163%	-7.3%	-0.3%	-1.6%	-1.1%
Working capital
Receivable days	71	46	49	45	48	37	47	42
Inventory days	173	344	311	296	292	282	391	251
Payable days	—	463	440	327	256	244	413	247
NWC days	—	-73	-80	14	83	76	25	46
Leverage
Current ratio	0.27	0.87	1.06	1.23	1.71	1.57	1.49	1.47
Debt to EBITDA	—	19.67	9.59	—	—	—	—	—
Debt to equity	0.33	3.1	-3.21	0.04	0.02	0.02	0.03	0.03
Interest coverage	-1.7	0.1	0.2	-0.3	-19.2	-8.7	-10.3	-3.4
Asset turnover	0.33	0.39	0.53	0.38	0.36	0.45	0.43	0.51
Return ratios
Return on assets %	2.7%	-14%	-12.5%	61.3%	-2.7%	-0.1%	-0.7%	-0.6%
Return on capital employed %	-26.1%	2.5%	4.8%	-5.4%	-8.9%	-3.3%	-4.3%	-2.3%
Return on equity %	10.8%	-97.7%	64.6%	123%	-4%	-0.2%	-1%	-0.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.59%	73.59%	73.59%	73.46%	72.87%	72.49%	72.48%	72.48%	72.48%	72.48%	72.48%	72.48%
	0.26%	0.26%	0.27%	0.27%	0.37%	0.38%	1.16%	0.78%	1.06%	1.36%	1.6%	2.31%
	0.57%	0.69%	0.84%	1.07%	1.16%	1.17%	1.49%	1.52%	1.81%	1.85%	1.97%	2.25%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	25.58%	25.46%	25.3%	25.2%	25.6%	25.96%	24.87%	25.22%	24.65%	24.31%	23.95%	22.96%
No. of shareholders	—	—	—	—	—	—	—	—	33,593	34,597	32,620	33,532

Promoter holding down 1.11 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Nosheen SheikhImmediate relative	BuyMarket Purchase	3,000	₹12.2 L	0.00% → 0.00%	3 Oct 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

117 deals · 3 Feb 2022 – 9 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
9 Jun 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	9,65,723	₹626.61	₹60.51 Cr
9 Jun 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	9,65,723	₹626.42	₹60.49 Cr
9 Jun 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	5,66,807	₹623.60	₹35.35 Cr
9 Jun 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	5,65,285	₹624.00	₹35.27 Cr
9 Jun 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	5,31,543	₹624.66	₹33.20 Cr
9 Jun 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	5,31,543	₹624.46	₹33.19 Cr
9 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	4,22,246	₹617.87	₹26.09 Cr
9 Jun 2026	DIPAN MEHTA COMMODITIES PRIVATE LIMITED	Bulk	NSE	Buy	4,20,933	₹624.39	₹26.28 Cr
9 Jun 2026	DIPAN MEHTA COMMODITIES PRIVATE LIMITED	Bulk	NSE	Sell	4,20,933	₹625.17	₹26.32 Cr
9 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	4,17,995	₹618.84	₹25.87 Cr

1–10 of 117

1 / 12

Mr. Rajesh JainExecutive Director-Chairperson-MD
Mr. Sandeep JainExecutive Director
Mr. Ankesh JainExecutive Director
Mr. Harshet JainExecutive Director
Mr. Sanjay TrehanExecutive Director
Mrs. Ambika SharmaNon-Executive - Independent Director
Mr. Krishan Kumar JalanNon-Executive - Independent Director
Mr. Rajender Pal SinghNon-Executive - Independent Director
Mr. Venkatesh SarvasiddhiNon-Executive - Independent Director
Mr. Vinod GoelChief Financial Officer
Mr. Ankit JainCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

of the company's equity

All mutual funds

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

1 schemes

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	454	0.02	0.04%	0.001%	+1

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

4

Dividend dividend19 Sept 2011 · ex-date₹0.75
Dividend dividend16 Sept 2010 · ex-date₹0.25
Dividend dividend19 Sept 2008 · ex-date₹1
Dividend dividend21 Sept 2007 · ex-date₹1

1

Board meeting to consider results13 Aug 2026

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

23 announcementsExport CSV

1 Oct 2026, 9:42 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

1 Oct 2026, 9:35 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 9:27 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 5:57 pmCompany Update

Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations')

General PDF

15 Sept 2026, 3:01 pmCompany Update

Communication Sent To Physical Shareholders To Furnish PAN And KYC Details

General PDF

8 Sept 2026, 12:24 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

7 Sept 2026, 7:31 pmCorp. Action

Book Closure For Annual General Meeting

Book Closure PDF

7 Sept 2026, 6:58 pmCompany Update

Confirmation On Letter Being Sent To The Concerned Shareholders Providing The Weblink For Accessing The Annual Report For Financial Year 2025-26 And The Notice Of The Ensuing AGM, To Be Held On September 29, 2026, Through Video Conferencing / Other Audio-Visual Means.

General PDF

Date	Category	Subject	Filing
1 Oct 2026, 9:42 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
1 Oct 2026, 9:35 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM

Loading announcements…

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	62.3%	71.2%	67.2%	60.3%	45.1%	58.8%	64.3%	56.2%
EBITDA margin %	-28.7%	5.8%	12.3%	-2.1%	-21.3%	-3.6%	-4.6%	-0.7%
EBIT margin %	-40.5%	-2.2%	5%	-8.7%	-29.8%	-10.2%	-10.9%	-5.9%
PAT margin %	8.3%	-35.7%	-23.6%	163%	-7.3%	-0.3%	-1.6%	-1.1%
Working capital
Receivable days	71	46	49	45	48	37	47	42
Inventory days	173	344	311	296	292	282	391	251
Payable days	—	463	440	327	256	244	413	247
NWC days	—	-73	-80	14	83	76	25	46
Leverage
Current ratio	0.27	0.87	1.06	1.23	1.71	1.57	1.49	1.47
Debt to EBITDA	—	19.67	9.59	—	—	—	—	—
Debt to equity	0.33	3.1	-3.21	0.04	0.02	0.02	0.03	0.03
Interest coverage	-1.7	0.1	0.2	-0.3	-19.2	-8.7	-10.3	-3.4
Asset turnover	0.33	0.39	0.53	0.38	0.36	0.45	0.43	0.51
Return ratios
Return on assets %	2.7%	-14%	-12.5%	61.3%	-2.7%	-0.1%	-0.7%	-0.6%
Return on capital employed %	-26.1%	2.5%	4.8%	-5.4%	-8.9%	-3.3%	-4.3%	-2.3%
Return on equity %	10.8%	-97.7%	64.6%	123%	-4%	-0.2%	-1%	-0.9%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Torrent Pharmaceuticals LimitedTORNTPHARMTORNTPHARM	₹1,61,325 Cr	₹1,76,123 Cr	₹15,723 Cr	₹5,191 Cr	32.6%	₹2,181 Cr	15.3%	14.5%	27.1%	163
Zydus Lifesciences LimitedZYDUSLIFEZYDUSLIFE	₹1,14,284 Cr	₹1,26,053 Cr	₹28,592 Cr	₹8,316 Cr	31.2%	₹4,513 Cr	18.9%	23.4%	19.7%	212
Laurus Labs LimitedLAURUSLABSLAURUSLABS	₹1,07,176 Cr	₹1,09,573 Cr	₹7,270 Cr	₹2,034 Cr	26.1%	₹1,093 Cr	13.1%	21.3%	18.2%	263
Mankind Pharma LimitedMANKINDMANKIND	₹1,04,696 Cr	₹1,11,007 Cr	₹14,738 Cr	₹3,827 Cr	25.3%	₹2,068 Cr	13.6%	14.2%	12.5%	117
Aurobindo Pharma LimitedAUROPHARMAAUROPHARMA	₹97,389 Cr	₹1,05,065 Cr	₹34,935 Cr	₹7,085 Cr	20.3%	₹3,713 Cr	10.4%	14.7%	9.9%	252
Lupin LimitedLUPINLUPIN	₹92,866 Cr	₹98,777 Cr	₹29,967 Cr	₹9,538 Cr	31.5%	₹5,529 Cr	19.2%	34.2%	26.9%	181
Glenmark Pharmaceuticals LimitedGLENMARKGLENMARK	₹65,781 Cr	₹65,781 Cr	₹17,737 Cr	₹4,797 Cr	26.9%	₹1,496 Cr	8%	37.8%	0%	83
Alkem Laboratories LimitedALKEMALKEM	₹62,431 Cr	₹64,055 Cr	₹15,081 Cr	₹3,032 Cr	20.4%	₹2,158 Cr	16%	21.5%	17.8%	152
Biocon LimitedBIOCONBIOCON	₹60,413 Cr	₹75,238 Cr	₹17,321 Cr	₹3,536 Cr	20.4%	₹495 Cr	2.2%	3.9%	1.4%	85
Abbott India LimitedABBOTINDIAABBOTINDIA	₹56,901 Cr	—	₹4,310 Cr	₹921 Cr	27.3%	₹691 Cr	22.4%	44.1%	34.5%	110
Ipca Laboratories LimitedIPCALABIPCALAB	₹49,299 Cr	₹50,003 Cr	₹10,126 Cr	₹2,232 Cr	20.5%	₹1,310 Cr	12.3%	17.8%	15.2%	308
Gland Pharma LimitedGLANDGLAND	₹47,428 Cr	₹47,671 Cr	₹6,725 Cr	₹1,751 Cr	25.3%	₹1,129 Cr	16%	14.8%	10.5%	255

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	98	131	118	105	-30	107	-108	-423	-0	-27	17
	23	-26	55	-5	-35	-48	1,283	430	10	65	-40
	-129	-107	-164	-101	91	-47	-1,176	-18	-3	-3	-1
Net cash flow	-8	—	—	—	26	12	-2	-12	7	35	-25
Free cash flow	—	107	—	—	—	85	-121	-464	-78	-78	-37
CFO / Operating profit %	—	209.3%	137%	—	-97.2%	139.3%	—	—	—	—	—

Panacea Biotec Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

4

1

Announcements

Not in the F&O segment

4

1

Announcements

Annual reports

Segment results

Compounded sales growth

Return on equity

Formulations · revenue

Panacea Biotec Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends4

Board meetings1

Announcements

Ratio timeline

Not in the F&O segment

Dividends4

Board meetings1

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Return on equity

Formulations · revenue

4

1

4

1