Panache Digilife Limited (PANACHE)
₹656.45 +2.00% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Panache Digilife's revenue was ₹50.8 Cr (+72.1% year on year, -49.2% on the previous quarter), and net profit ₹3.6 Cr (+332.9% year on year); the operating margin was 10.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹50.8 | +72.1% | -49.2% |
| Operating profit | ₹5.2 | +170.2% | -67.5% |
| Net profit | ₹3.6 | +332.9% | -63.8% |
| EPS (₹) | 2.26 | +310.9% | -62.2% |
| Operating margin | 10.2% | — | — |
PANACHE bulk deals
NSE end-of-day data for
It closed at a price band (circuit) on 7 sessions in about the last 20. 1 bulk or block deal was reported in PANACHE in the last 60 days: ₹6 Cr bought, none sold.
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 8 Oct | Buy | Vijay Chandumal Devnani | ₹6.03 Cr | ₹603.45 | 100,000 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Panache Digilife Limited announced that its subsidiary, Panache Newage Technology Private Limited, has received a domestic work order in the telecom sector. The contract entails installation, configuration, technical services, equipment, and real-time monitoring over an execution timeline of approximately 36 months. However, the commercial order value has not been disclosed by the company due to confidentiality terms, limiting precise assessment against its TTM revenue of ₹264 crore.
- Subsidiary Panache Newage Technology secured a domestic telecom work order
- Scope covers technical services, installation, configuration, and real-time monitoring
- Execution timeline spans approximately 36 months
- Order size withheld as 'confidential in nature'
Panache Digilife Limited has received confirmation of the incorporation of a wholly owned subsidiary (WOS), Quantron Technology Limited, in Hong Kong on September 23, 2026. The new entity operates in the Information Technology sector and will engage in the trading of IT products. Panache will hold 100% control, subscribing to 50,000 ordinary shares at HKD 1 per share via cash consideration. The financial outlay of HKD 50,000 (roughly ₹5.3 lakh) is negligible relative to the company's net worth of ₹109 Cr and TTM revenue of ₹264 Cr.
- Incorporated wholly owned subsidiary Quantron Technology Limited in Hong Kong on September 23, 2026
- Company holds 100% shareholding/control via cash consideration
- Subscribed capital consists of 50,000 Ordinary shares at HKD 1 per share
- Subsidiary will focus on trading Information Technology products
Panache Digilife Limited announced the results of its 19th Annual General Meeting held on September 24, 2026, with all 7 resolutions passed by requisite majority. Out of 1,60,14,000 total equity shares, 89,88,523 shares (56.13%) were polled for regular resolutions, receiving near 100% approval. Key resolutions passed include approving higher limits for loans, guarantees, and securities under Sections 185 and 186, as well as material related-party transactions with subsidiary Panache Newage Technology Private Limited. For the related-party resolution, promoter entities abstained, and 3,44,163 public votes were cast 100% in favour.
- All 7 resolutions approved with requisite majority at the 19th AGM held on September 24, 2026
- Overall voter turnout was 56.1292% (89,88,523 votes polled out of 1,60,14,000 shares)
- Approved enhanced limits for loans and guarantees under Sections 185 and 186 of the Companies Act
- Material related-party transaction with subsidiary Panache Newage Technology approved unanimously by voting non-promoter shareholders (3,44,163 votes in favour)
Panache Digilife Limited conducted its 19th Annual General Meeting on September 24, 2026, where all 7 agenda items were approved by shareholders. Key resolutions passed included raising limits for loans/investments under Sections 185 and 186 of the Companies Act, 2013, as well as approving material related-party transactions with its subsidiary, Panache Newage Technology Private Limited. Additionally, shareholders approved the adoption of FY26 audited accounts and the re-appointment of Director Amit Rambhia.
- 19th AGM conducted via video conference on September 24, 2026, spanning 23 minutes (3:00 PM to 3:23 PM)
- Approved enhanced limits for loans, guarantees, and securities under Section 185 and Section 186
- Shareholders approved material related party transactions with subsidiary Panache Newage Technology Private Limited
- Appointed Mrs. Tejaswini More as Independent Director via special resolution
Infomerics Valuation and Rating Ltd has withdrawn its credit rating on Panache Digilife's bank facilities amounting to ₹29.00 crore. The withdrawal was carried out at the company's request following the submission of a No-Objection Certificate (NOC) from its bankers. Prior to withdrawal, the facilities were rated 'IVR BB+/ Negative; ISSUER NOT COOPERATING*'. The rated facility of ₹29.00 crore aligns closely with the company's reported total debt of approximately ₹28 crore.
- Infomerics withdrew rating for total bank loan facilities of Rs. 29.00 Crore.
- Action initiated at the request of the company following an NOC from its lenders.
- Prior rating stood at IVR BB+/ Negative under 'ISSUER NOT COOPERATING' category.
- Previously rated instrument consists of fund-based Cash Credit facilities.
Panache Digilife Limited has issued a compliance intimation under Regulation 36(1)(b) of the SEBI LODR Regulations. The company has dispatched a communication containing the web link to the Annual Report for FY 2025-26 and the Notice of the 19th Annual General Meeting (AGM) to shareholders without registered email addresses. The 19th AGM is scheduled to be held on Thursday, September 24, 2026, at 3:00 PM IST via Video Conferencing.
- 19th Annual General Meeting scheduled for Thursday, September 24, 2026 at 3:00 PM IST via Video Conferencing
- Communication dispatched to shareholders not having registered email addresses under SEBI Regulation 36(1)(b)
- Annual Report for FY 2025-26 made available online on the company website and CDSL e-voting platform
Panache Digilife Limited has submitted its Annual Report for FY2025-26 and issued notice for its 19th Annual General Meeting (AGM) scheduled for September 24, 2026, at 3:00 PM IST via video conferencing. The annual report outlines the company's performance, where revenue from operations crossed ₹242 crore (₹243.07 crore reported in FY26 financials) from its 50,000+ sq. ft. manufacturing facility in Bhiwandi. This is a standard statutory disclosure under SEBI LODR Regulation 34 with no new price-sensitive operational announcements.
- 19th Annual General Meeting to be held virtually on September 24, 2026, at 3:00 p.m. IST
- Annual Report for FY2025-26 submitted pursuant to Regulation 34 of SEBI LODR Regulations
- Company operates out of a 50,000+ sq. ft. manufacturing facility located in Bhiwandi, Maharashtra
- Annual Report highlights revenue from operations crossing ₹242 crore in FY2025-26
Panache Digilife Limited has received a credit rating assignment from CRISIL Ratings for its bank facilities. CRISIL assigned a 'Crisil BBB-/Stable' long-term rating to the company's ₹29 Crore cash credit facility with Canara Bank. The rated facility amount is roughly equivalent to the company's current total debt of ₹28 Crore (~11% of TTM revenue). The assigned rating letter remains valid through September 16, 2027.
- CRISIL assigned 'Crisil BBB-/Stable' rating to ₹29 Crore long-term bank facilities
- Entire rated facility consists of ₹29 Crore Cash Credit with Canara Bank
- Rating letter is valid until September 16, 2027
- Proposed facilities must be availed within 180 days to avoid fresh revalidation
Panache Digilife Limited has informed the exchange regarding an upcoming one-on-one analyst/institutional investor meeting. The meeting is scheduled with R Square Advizors on August 27, 2026, in physical mode. The company confirmed that no unpublished price-sensitive information (UPSI) will be shared during the interaction.
- One-on-one analyst/investor meeting scheduled with R Square Advizors
- Meeting date: August 27, 2026
- Meeting format: Physical one-on-one mode
- No unpublished price sensitive information (UPSI) to be shared
Panache Digilife Limited was awarded the 'Innovation & Excellence Award' by Intel at the Industry Solution Builders Connect – 2026 on August 13, 2026. This recognition validates the company's technical capabilities in the ICT and ESDM (Electronic System Design and Manufacturing) ecosystem. While the award enhances brand equity with a major global technology partner, it does not represent a direct financial contract or order win. The company currently operates with a TTM revenue of ₹264 Cr and maintains a healthy ROCE of 24.0%.
- Received the Innovation & Excellence Award from Intel on August 13, 2026, in Bengaluru.
- Company is targeting a 50% CAGR by shifting focus to high-margin, design-led contract manufacturing.
- Maintains a TTM revenue of ₹264 Cr with an operating profit margin of 11.4%.
- Operational strategy includes reducing the cash cycle from 120 days to 90 days in FY26.
Panache Digilife reported a robust start to FY27 with revenue growing 72.1% YoY to ₹50.84 Cr. Profitability saw a significant surge, with PAT increasing 338.5% YoY to ₹3.81 Cr, driven by a 372 bps expansion in operating EBITDA margins to 10.2%. The company is successfully transitioning from a white-box assembler to a Design-led Manufacturing (DLM) model focusing on AI computing and telecom. Operational efficiency has improved markedly, with the cash conversion cycle reducing from 172 days in FY25 to 84 days in FY26.
- Revenue from operations grew 72.1% YoY to ₹50.84 Cr in Q1 FY27
- Profit After Tax (PAT) surged 338.5% YoY to ₹3.81 Cr
- Operating EBITDA margin expanded by 372 basis points to 10.2% from 6.5% YoY
- Cash conversion cycle reduced significantly to 84 days in FY26 from 172 days in FY25
- Net Debt to Operating EBITDA improved to 0.81 in FY26 from 1.82 in FY25
Panache Digilife reported a strong year-on-year performance for Q1 FY27, with total income rising 73.1% to ₹51.54 Cr compared to ₹29.77 Cr in Q1 FY26. Net profit (PAT) saw a significant jump of 338.5% YoY to ₹3.81 Cr, driven by a 421 bps expansion in EBITDA margins to 11.5%. While YoY growth is robust, the results show a sequential decline compared to the exceptionally strong Q4 FY26, where revenue was ₹101.49 Cr. The company attributes the margin improvement to better operating leverage and a shift toward value-added design-led manufacturing.
- Total Income grew 73.1% YoY to ₹5,154 Lakhs in Q1 FY27.
- EBITDA increased by 173.8% YoY to ₹591 Lakhs, with margins expanding to 11.5%.
- PAT surged 338.5% YoY to ₹381 Lakhs from ₹87 Lakhs in Q1 FY26.
- Diluted EPS rose to ₹2.09 in Q1 FY27 from ₹0.53 in the previous year's quarter.
- Sequential revenue declined by 49.2% compared to Q4 FY26 (₹10,149 Lakhs).
Panache Digilife reported a strong start to FY27 with Q1 revenue growing 60.7% YoY to ₹47.48 Cr. Net profit saw a significant jump of 327% YoY, reaching ₹4.09 Cr compared to ₹0.96 Cr in the same quarter last year. The board also approved the grant of 4,49,500 ESOPs at an exercise price of ₹458, representing a ~9% discount to the current market price. This performance aligns with the company's stated strategy of shifting toward high-margin, design-led contract manufacturing.
- Q1 FY27 Revenue from operations increased 60.7% YoY to ₹47.48 Cr from ₹29.54 Cr.
- Net Profit for the quarter surged 327% YoY to ₹4.09 Cr from ₹0.96 Cr.
- Granted 4,49,500 ESOPs at an exercise price of ₹458 per share with a 3-year vesting schedule.
- Basic EPS improved significantly to ₹2.55 for Q1 FY27 from ₹0.63 in Q1 FY26.
- Operating expenses were managed effectively, with employee benefit expenses remaining stable at ₹1.48 Cr despite revenue growth.
Panache Digilife reported a strong YoY performance for Q1 FY27, with standalone revenue reaching ₹47.48 Cr, a 60.7% increase from ₹29.54 Cr in Q1 FY26. Net profit for the quarter rose significantly to ₹4.09 Cr compared to ₹0.96 Cr in the previous year's corresponding quarter. The board also approved the grant of 4,49,500 ESOPs at an exercise price of ₹458, representing a potential equity dilution of approximately 2.8%. Additionally, Independent Director Tejaswini More was reappointed for a second five-year term starting January 2027.
- Standalone Revenue for Q1 FY27 grew 60.7% YoY to ₹47.48 Cr from ₹29.54 Cr.
- Net Profit (PAT) for the quarter increased to ₹4.09 Cr, a 326% jump from ₹0.96 Cr YoY.
- Granted 4,49,500 ESOPs at an exercise price of ₹458, which is a slight discount to the current price of ₹481.4.
- Reappointed Independent Director Tejaswini More for a 5-year term effective January 18, 2027.
- Basic EPS for the quarter improved to ₹2.55 from ₹0.63 in the year-ago period.
Panache Digilife reported a strong YoY performance for Q1 FY27, with revenue increasing 60.7% to ₹47.48 Cr and PAT surging 326% to ₹4.09 Cr compared to Q1 FY26. However, on a sequential basis, revenue and profit declined by approximately 50% from the peak Q4 FY26 levels, reflecting quarterly volatility in the hardware business. The board also approved the grant of 4,49,500 ESOPs at an exercise price of ₹458, which implies a potential equity dilution of ~2.8%. Management remains focused on its 50% CAGR target through manufacturing ramp-ups and operational efficiency.
- Revenue from operations grew 60.7% YoY to ₹47.48 Cr in Q1 FY27.
- Net profit increased 326% YoY to ₹4.09 Cr from ₹0.96 Cr in the previous year's quarter.
- Granted 4,49,500 ESOPs at an exercise price of ₹458, a slight discount to the current market price of ₹481.4.
- Basic EPS for the quarter stood at ₹2.55, up from ₹0.63 in Q1 FY26.
- Inventory management showed a significant shift with a ₹27.68 Cr increase in work-in-progress/finished goods during the quarter.
Financial Performance
Revenue Growth by Segment
Total revenue grew 20.27% YoY to INR 116.11 Cr in FY25 from INR 96.54 Cr in FY24; specific segment-wise percentage growth for ICT hardware, telecom, and digital security was not disclosed.
Profitability Margins
EBITDA margin improved from 6.37% in FY24 to 9.15% in FY25. PAT margin improved from 0.01% in FY24 to 5.92% in FY25, driven by a strategic shift toward high-margin offerings and design-led services.
EBITDA Margin
EBITDA margin was 9.15% in FY25, representing a significant YoY improvement of 278 basis points from 6.37% in FY24.
Capital Expenditure
Historical CapEx for FY25 included INR 1.52 Cr for the purchase of fixed assets; planned CapEx is focused on ramping up to peak capacity to support the targeted 50% CAGR growth trajectory.
Credit Rating & Borrowing
Assigned a 'Stable' outlook by rating agencies on account of better revenue visibility; total borrowings increased to INR 26.72 Cr as of September 2025 from INR 19.85 Cr in March 2025.
Operational Drivers
Raw Materials
ICT hardware components and telecom equipment parts; specific material names and their individual cost percentages were not disclosed.
Capacity Expansion
Currently ramping up to peak capacity to support accelerated growth; specific installed capacity units or MTPA were not disclosed.
Manufacturing Efficiency
Targeting a 25% improvement in operational efficiency by reducing the operational cycle from 120 days to 90 days in FY26; current capacity utilization percentage was not disclosed.
Strategic Growth
Expected Growth Rate
50%
Growth Strategy
Achieving 50% CAGR through ramping up to peak manufacturing capacity, reducing the operational cycle by 25% (from 120 to 90 days), and prioritizing high-margin, design-led contract manufacturing. The company is broadening its footprint in ICT hardware, telecom, and digital security to capture emerging market opportunities.
Products & Services
ICT hardware, telecom devices, digital security products, and design-led contract manufacturing services.
Brand Portfolio
Panache, Panache DigiLife.
New Products/Services
Focus on high-margin offerings in ICT, telecom, and digital security; specific revenue contribution percentages for new launches were not disclosed.
Market Expansion
Broadening footprint across diverse product categories and critical sectors like ICT and telecom; specific target regions were not disclosed.
External Factors
Industry Trends
The industry is evolving towards India as a global hub for future-tech, with a focus on ICT and digital security. Panache is positioning itself for this growth by targeting a 50% CAGR and moving into high-margin, design-led services.
Competitive Landscape
Faces intense competition from both established players and unorganized participants in the ICT and telecom hardware markets.
Competitive Moat
Durable advantage from 20 years of experience and a 70% repeat business rate. The design-led manufacturing model integrates the value chain from design to lifecycle management, providing a sustainable cost and quality advantage over pure-play manufacturers.
Consumer Behavior
Increasing demand for digital security and ICT hardware is driving the company's diversification strategy.
Geopolitical Risks
Supplier concentration risk is a key concern, which may be impacted by geopolitical shifts affecting the global ICT supply chain.
Regulatory & Governance
Industry Regulations
Operations are subject to ICT and telecom sector standards and manufacturing regulations; specific regulatory impacts on pricing or pollution were not disclosed.
Environmental Compliance
The company has one woman independent director on the board; specific ESG compliance costs were not disclosed.
Taxation Policy Impact
Current tax liabilities were INR 1.92 Cr as of September 2025; specific tax rate percentage was not disclosed.
Legal Contingencies
The subsidiary Panache Newage Technology Private Limited has a 'Going Concern' issue regarding its leasehold land in Bilimora, Gujarat, which is considered non-feasible; specific litigation values were not disclosed.
Risk Analysis
Key Uncertainties
Supplier concentration and intense competition from established and unorganized players are primary risks; potential impact percentages were not disclosed.
Third Party Dependencies
High supplier concentration risk noted; specific dependency percentages from top suppliers were not disclosed.
Technology Obsolescence Risk
Addressed by focusing on emerging sectors like ICT hardware and digital security to stay ahead of technology shifts.
Credit & Counterparty Risk
Trade payables stood at INR 24.90 Cr as of September 2025; specific receivables quality metrics were not disclosed.
