Panasonic Energy India Company Ltd (504093)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Panasonic Energy's revenue was ₹63.5 Cr (+9.5% year on year, -11.4% on the previous quarter), and net profit ₹1.7 Cr (+97.3% year on year); the operating margin was 4.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹63.5 | +9.5% | -11.4% |
| Operating profit | ₹2.6 | +13.5% | -20.9% |
| Net profit | ₹1.7 | +97.3% | -4.2% |
| EPS (₹) | 2.21 | +97.3% | -4.3% |
| Operating margin | 4.1% | — | — |
📢 Recent Corporate Announcements
Panasonic Energy India Company Ltd has submitted a specimen copy of the letter sent to shareholders whose email addresses are not registered, providing weblinks to access the Annual Report for FY 2025-26 and the Notice of the 54th Annual General Meeting (AGM). The AGM is scheduled to take place on Monday, September 14, 2026, at 1:00 PM IST via Video Conferencing/OAVM. The communication was dispatched based on the shareholder cut-off date of August 14, 2026, and includes standard reminders for updating KYC and dematerialising physical securities.
- 54th Annual General Meeting scheduled for Monday, September 14, 2026, at 01:00 PM IST via VC/OAVM
- Notice and FY 2025-26 Annual Report access link dispatched to unregistered email shareholders as of the August 14, 2026 cut-off date
- Issued under SEBI LODR Regulation 36(1)(b) compliance alongside standard SEBI KYC update reminders
Panasonic Energy India Company Ltd has announced that its 54th Annual General Meeting (AGM) will take place on Monday, September 14, 2026, through Video Conferencing. In relation to the AGM, the Register of Members and Share Transfer Books will remain closed from September 07, 2026, to September 14, 2026 (both days inclusive). This is a routine regulatory intimation under Regulation 42 of the SEBI (LODR) Regulations, 2015.
- 54th Annual General Meeting scheduled for September 14, 2026
- Share transfer book closure window set from September 07, 2026, to September 14, 2026
- Meeting to be conducted via Video Conferencing / Other Audio Visual Means
Panasonic Energy India Company Ltd has submitted its Annual Report for FY2025-26 along with the Notice convening its 54th Annual General Meeting (AGM). The AGM is scheduled to take place virtually on Monday, September 14, 2026. Key special business items to be considered include the proposed shifting of the company's registered office from Gujarat to Madhya Pradesh and the ratification of cost auditor remuneration of Rs 1,31,250.
- 54th Annual General Meeting scheduled for September 14, 2026, at 01:00 PM IST via Video Conferencing
- Special resolution proposed to shift Registered Office from Gujarat to Madhya Pradesh
- Ordinary resolution proposed to ratify Cost Auditor remuneration of Rs 1,31,250 plus taxes to M/s Diwanji & Co.
Panasonic Energy India Co. Ltd has issued the notice convening its 54th Annual General Meeting (AGM) on September 14, 2026, via Video Conferencing. Key items on the agenda include the adoption of FY26 financial statements, declaration of dividend, and re-appointment of retiring director Mr. Tadasuke Hosoya. The company has also proposed a special resolution to shift its registered office from Gujarat to Madhya Pradesh, alongside ratifying Cost Auditor remuneration of Rs 1,31,250. The book closure for determining dividend eligibility is set from September 7 to September 14, 2026, with the entitlement cut-off on September 5, 2026.
- 54th AGM scheduled for Monday, September 14, 2026, at 01:00 PM IST via VC/OAVM
- Special resolution proposed to shift Registered Office from Gujarat to Madhya Pradesh
- Ratification of Cost Auditor remuneration of Rs 1,31,250 plus taxes for FY 2026-27
- Dividend entitlement determined based on Register of Members as of September 05, 2026
P a n a s o n i c E n e r g y I n d i a h a s p r o v i d e d a n u p d a t e o n t h e f i r e i n c i d e n t a t i t s P i t h a m p u r, M P f a c i l i t y w h i c h o c c u r r e d o n J u l y 6, 2 0 2 6. T h e c o m p a n y s t a t e s t h a t w h i l e t h e e x a c t q u a n t u m o f l o s s i s s t i l l b e i n g a s s e s s e d b y i n s u r a n c e s u r v e y o r s, n o i m m e d i a t e s u p p l y c h a i n d i s r u p t i o n i s e x p e c t e d d u e t o a d e q u a t e i n v e n t o r y l e v e l s. R e s t o r a t i o n h a s c o m m e n c e d, a n d t h e c o m p a n y i s e v a l u a t i n g o u t s o u r c i n g o p t i o n s f o r s e m i - f i n i s h e d g o o d s t o e n s u r e c o n t i n u i t y. O p e r a t i o n s i n u n a f f e c t e d a r e a s o f t h e p l a n t c o n t i n u e n o r m a l l y, a n d d i s p a t c h e s h a v e r e s u m e d.
- F i r e i n c i d e n t o c c u r r e d a t t h e P i t h a m p u r m a n u f a c t u r i n g f a c i l i t y o n J u l y 6, 2 0 2 6
- D i s p a t c h e s o f u n a f f e c t e d f i n i s h e d g o o d s i n v e n t o r y h a v e r e s u m e d f o l l o w i n g s a f e t y v e r i f i c a t i o n s
- C o m p a n y m a i n t a i n s a d e q u a t e i n v e n t o r y a t w a r e h o u s e s t o m i t i g a t e i m m e d i a t e s u p p l y c h a i n r i s k s
- T T M P A T s t a n d s a t R s 3 C r, m a k i n g a n y u n i n s u r e d l o s s e s m a t e r i a l t o t h e b o t t o m l i n e
- C u r r e n t e m p l o y e e s t r e n g t h i s 6 7 9 a s o f M a r c h 3 1, 2 0 2 5
Panasonic Energy India's board approved shifting its registered office from Vadodara, Gujarat to Pithampur, Madhya Pradesh on August 07, 2026. This move aims to align the company's legal address with its manufacturing base, which has been operational in Pithampur since 2022. The change is subject to shareholder approval via a special resolution and regulatory clearance from the Regional Director (MCA). With a small market cap of Rs 193 Cr and TTM PAT of Rs 3 Cr, this is a procedural step to enhance administrative efficiency.
- Board approval granted on August 07, 2026, for shifting the registered office to Pithampur, MP
- Manufacturing and business operations have already been based in Madhya Pradesh since 2022
- The company reported TTM revenue of Rs 270 Cr and a low OPM of 3.9%
- Requires approval from shareholders via Special Resolution and the Regional Director (MCA)
Panasonic Energy India's Board has approved shifting its Registered Office from Vadodara, Gujarat, to Pithampur, Madhya Pradesh. This move aims to align the company's legal domicile with its principal manufacturing operations, which have been based in Pithampur since 2022. The transition is subject to shareholder approval via a Special Resolution and regulatory clearance from the Regional Director (MCA). For a company with a market cap of Rs 193 Cr and TTM revenue of Rs 270 Cr, this is a procedural step to improve administrative efficiency.
- Shifting Registered Office from Vadodara, Gujarat to Pithampur, Madhya Pradesh
- Manufacturing and business operations have already been based in Pithampur since 2022
- Board approval granted on August 07, 2026, pending shareholder and regulatory nods
- Amendment to Clause II of the Memorandum of Association (MOA) required for the state change
Panasonic Energy India reported a 9.5% YoY revenue growth to ₹63.52 Cr for Q1 FY27, with PAT nearly doubling to ₹1.66 Cr. However, the results carry a repetitive audit qualification regarding non-compliance with Battery Waste Management Rules (BWMR) 2022, where the company is contesting 'exorbitant' environmental compensation costs in the Delhi High Court. Post-quarter, a fire incident occurred at the company's production facilities, the impact of which is currently being assessed. The board also approved shifting the registered office from Vadodara to Pithampur and selling leasehold rights of the Vadodara plot.
- Revenue from operations grew 9.5% YoY to ₹63.52 Cr in Q1 FY27 compared to ₹58.01 Cr in Q1 FY26.
- Net Profit increased by 97% YoY to ₹1.66 Cr, resulting in an EPS of ₹2.21 vs ₹1.12 in the previous year's quarter.
- Audit qualification persists as the company has not recognized provisions for environmental compensation under BWMR 2022, citing unquantifiable and 'exorbitant' costs.
- A fire occurred at production facilities subsequent to June 30, 2026; management is assessing the impact on the company's ability to continue as a going concern.
- Board granted in-principle approval to transfer leasehold rights of the Vadodara industrial plot and shift the registered office to Madhya Pradesh.
Panasonic Energy India reported Q1 FY27 revenue of ₹63.52 Cr, up 9.5% YoY, with PAT nearly doubling to ₹1.66 Cr from ₹0.84 Cr. However, the statutory auditor issued a modified opinion due to the company's failure to estimate or provide for liabilities under the Battery Waste Management Rules (BWMR) 2022. Management noted that compliance costs under current rules are 'exorbitant' and are being challenged in the Delhi High Court. Additionally, a fire occurred at production facilities after the quarter ended, and the board has approved shifting the registered office from Vadodara to Pithampur.
- Revenue from operations increased 9.5% YoY to ₹63.52 Cr for the quarter ended June 30, 2026.
- Net Profit rose 97.6% YoY to ₹1.66 Cr, compared to ₹0.84 Cr in the same period last year.
- Statutory auditor BSR & Co issued a modified opinion regarding unquantified environmental compensation under BWMR 2022.
- Disclosed a fire incident at production facilities occurring after the reporting date (post-June 30, 2026).
- Board approved shifting the registered office to Pithampur, MP, and transferring leasehold rights of the Vadodara GIDC plot.
Panasonic Energy India has scheduled a board meeting on August 07, 2026, to approve its unaudited financial results for the first quarter ended June 30, 2026. The company, which has a market capitalization of ₹186 Cr, reported a TTM revenue of ₹270 Cr and a thin TTM PAT of ₹3 Cr. Investors will be looking for signs of margin recovery, as the operating profit margin (OPM) stood at 3.9% in the previous trailing twelve months. The trading window for insiders has been closed since July 01, 2026, in compliance with SEBI regulations.
- Board meeting scheduled for August 07, 2026, to approve Q1 results
- Financial results cover the 3-month period ending June 30, 2026
- Trading window closed from July 01, 2026, until 48 hours post-announcement
- Company reported TTM revenue of ₹270 Cr and TTM EPS of ₹4.66
- Market cap stands at ₹186 Cr with a P/E ratio of 53.4
Financial Performance
Revenue Growth by Segment
Not disclosed in absolute percentage per segment, but the company identifies AAA batteries, Lithium coin, and Alkaline divisions as the primary growth drivers due to increased gadget usage.
Geographic Revenue Split
Primarily focused on the Indian domestic market; however, the company earned INR 10.14 Cr in foreign exchange, representing a portion of revenue from exports.
Profitability Margins
Operating Profit Margin improved to 6.65% in FY 2024-25 from 5.34% in FY 2023-24. Net Profit Margin increased to 4.39% from 3.98% YoY, reflecting improved operational efficiency despite supply chain pressures.
EBITDA Margin
Operating Profit Margin stands at 6.65%, showing a YoY improvement of 131 basis points driven by better cost management and technology absorption.
Capital Expenditure
The company made a specific capital investment of INR 4.10 Cr (410 lakhs) in energy conservation equipment during FY 2024-25.
Credit Rating & Borrowing
The company reported no instances of one-time settlements against loans from banks or financial institutions; Debt-Equity ratio is effectively zero as no long-term debt is reported.
Operational Drivers
Raw Materials
Zinc, Manganese (implied by CZ segment), PET (replacing PVC), and the elimination of hazardous substances like Lead (Pb), Mercury (Hg), and Cadmium (Cd).
Import Sources
Not specifically named, but the high foreign exchange outgo of INR 83.50 Cr suggests significant imports of raw materials or components from global markets.
Capacity Expansion
Installed a 150 KW AC PV Solar Module for energy conservation; current employee strength is 679 as of March 31, 2025.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but noted as a high-risk area due to global supply chain volatility and fluctuating foreign exchange rates affecting procurement costs.
Manufacturing Efficiency
Debtors turnover improved to 39.76 times from 35.46 times YoY, indicating faster collection; however, inventory turnover slowed slightly to 7.84 times from 8.23 times.
Logistics & Distribution
Implemented SFA system to optimize sales and distribution coverage across India, aiming to boost individual productivity and market reach.
Strategic Growth
Growth Strategy
Growth will be achieved by expanding the distribution network through SFA systems, focusing on the high-growth AAA and Lithium coin battery segments for car fobs and remotes, and leveraging the 'Carbon Neutral Factory' status to appeal to ESG-conscious consumers.
Products & Services
Dry cell batteries (Zinc Carbon and Alkaline), Lithium coin batteries (CR series), and eco-friendly battery solutions.
Brand Portfolio
Panasonic
New Products/Services
Eco-friendly batteries complying with RoHS Directives (EU) 2015/863; development of PET material to replace PVC in packaging.
Market Expansion
Targeting increased per capita consumption in urban areas driven by rising disposable income and the proliferation of battery-powered gadgets like toys and medical equipment.
Strategic Alliances
The company is a subsidiary of Panasonic Holdings Corporation, Japan, providing access to advanced Japanese technology and R&D.
External Factors
Industry Trends
The industry is shifting toward AAA and coin batteries due to the rise in remote-controlled devices and car fobs; Battery Waste Management Rules are creating new opportunities in the circular economy.
Competitive Landscape
Facing intense competition from low-cost imported alkaline batteries and domestic trade-down trends.
Competitive Moat
Brand equity of 'Panasonic' and access to Japanese technology provide a competitive edge in quality; Carbon Neutral certification and RoHS compliance serve as sustainable moats in an ESG-focused market.
Macro Economic Sensitivity
Highly sensitive to Indian per capita income levels and urbanization; purchasing parity per capita income in India has more than doubled in the last decade, driving battery demand.
Consumer Behavior
Increasing lifestyle needs for convenience and a growing number of gadgets per household are boosting demand for high-performance batteries.
Geopolitical Risks
Geopolitical tensions are cited as a primary driver for supply chain volatility and raw material price fluctuations.
Regulatory & Governance
Industry Regulations
Subject to Battery Waste Management Rules and Schedule VII of the Companies Act, 2013 for CSR; follows Secretarial Standards and SEBI (LODR) Regulations.
Environmental Compliance
Spent INR 8.44 Lakhs on CSR activities focused on environmental sustainability (tree plantation); compliant with RoHS Directives (EU) 2015/863.
Legal Contingencies
No significant or material orders passed by regulators, courts, or tribunals impacting the going concern status or future operations.
Risk Analysis
Key Uncertainties
Volatility in global raw material prices and supply chain disruptions could impact margins by up to 1-2% based on historical margin fluctuations.
Geographic Concentration Risk
High concentration in the Indian market, though it benefits from the growing Indian economy.
Third Party Dependencies
High dependency on a limited pool of suppliers for specialized battery components, increasing procurement risk.
Technology Obsolescence Risk
Risk of traditional batteries being displaced by integrated rechargeable systems or smartphone-based control technologies.
Credit & Counterparty Risk
Low risk as evidenced by a high Debtors Turnover ratio of 39.76 times, indicating efficient credit management.
