Panama Petrochem Ltd(PANAMAPET)

NSE: PANAMAPETBSE: 524820

₹ 446-3.26%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 2,698 crNext results: 4 Nov 2026Website: www.panamapetro.comUpdated: 24 Oct 2026

About

Panama Petrochem Ltd, established in 1982, manufactures and exports nearly 80 variants of specialty petroleum products including liquid paraffin oil, petroleum jelly, and transformer oil. The company reported consolidated revenue of ₹3,064.26 Cr in FY26. It operates four manufacturing units in western India and holds a wholly-owned subsidiary in the UAE, exporting to more than 55 countries globally.^[1][2]

Products

Makes nearly 80 variants of specialty petroleum products; key products are liquid paraffin oil (white oil), petroleum jelly and transformer oil (as of FY25).^[1]
Products serve printing ink, resin, cosmetics, rubber products, pharmaceuticals, engineering and petrochemicals; customised formulations are developed to client specifications (FY25).^[1]

Manufacturing operations

Four manufacturing units in western India: Ankleshwar (Gujarat), Daman, Taloja (Raigadh, Maharashtra) and Dahej (Bharuch, Gujarat) (FY25).^[1]
The Ankleshwar plant hosts an R&D Centre and holds ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certifications (FY25).^[1]
Wholly-owned subsidiary Panol Industries RMC FZE is located in Ras Al Khaimah, UAE (FY25).^[1]

Geographic revenue split

Standalone sales in FY25: India ₹1,239.46 Cr and outside India ₹536.26 Cr, totalling ₹1,775.72 Cr.^[1]
Standalone sales in FY24: India ₹1,088.33 Cr and outside India ₹636.59 Cr, totalling ₹1,724.92 Cr.^[3]

Customers and distribution

Customers include large corporate houses and State Electricity Boards, with long-standing relationships across sectors (FY25).^[1]
Products exported to more than 55 countries; the company is certified as a Star Export House (FY25).^[1]
In FY24, exports contributed approximately 38% of total turnover, reaching more than 75 countries.^[3]
The company has been increasing its export presence in the USA, Africa, Europe and Asia (FY25).^[1]

Expansion and capex

Acquired approximately 4.5 acres (approx. 18,000 sq. metres) of land in Thane, Maharashtra to boost manufacturing capacity (FY25).^[1]
UAE subsidiary Panol Industries RMC FZE secured additional property at RAK Maritime City Free Zone for an expansion project (FY25).^[1]

Recent developments

12 Oct 2026: CARE Ratings reaffirmed long-term bank facilities at CARE A+ and revised the outlook from Stable to Positive; short-term facilities reaffirmed at CARE A1+.^[4]
ICRA reaffirmed its ratings at [ICRA]A+(Stable) and [ICRA]A1+ (FY25).^[1]

Market Cap

₹2,698 Cr

High / Low

₹600 / 229

Stock P/E

6.2

Price / Book

2.0

Book Value

₹243

EPS

₹35.1

No. of Shares

6.05 Cr

ROCE

19.1%

ROE

15.6%

OPM

8.9%

Debt / Equity

0.05

Sales

₹3,064 Cr

Net Profit

₹213 Cr

Promoter holding

63.2%

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