PANACHE - Panache Digilife
📢 Recent Corporate Announcements
Panache Digilife reported a robust financial performance for FY26, achieving a total revenue of ₹242.98 crore and a Profit After Tax (PAT) of ₹16.54 crore. The company is strategically transitioning from Contract Led Manufacturing (CLM) to a higher-margin Design Led Manufacturing (DLM) model, targeting a 67% revenue share from DLM within three years. A major capital expenditure of up to ₹100 crore is planned through its subsidiary, Technofy Digital, to enhance manufacturing capabilities in the Electronics System Design and Manufacturing (ESDM) segment. The growth is driven by high-demand sectors including AI servers, 5G telecom infrastructure, and medical devices.
- Reported full-year FY26 total revenue of ₹24,297.68 lakhs and PAT of ₹1,653.93 lakhs.
- Strong Q4 FY26 performance with sales of ₹9,990.44 lakhs and PAT of ₹1,002.52 lakhs.
- Announced a ₹100 crore capex plan for the ESDM segment via wholly owned subsidiary Technofy Digital Private Limited.
- Targeting a revenue mix shift to 67% Design Led Manufacturing (DLM) from the current 33% to boost EBITDA margins.
- Diversified across 6 high-growth verticals including AI Compute, 5G Telecom, and Medical Smart Devices.
Panache Digilife reported a stellar performance for FY26, with annual revenue doubling to ₹233.11 crore from ₹115.93 crore in the previous year. Net profit for the full year grew by 163% to ₹15.40 crore, despite an exceptional charge of ₹3.46 crore related to gratuity provisions and bad debt write-offs. The company's Q4 performance was particularly strong, with revenue growing 57.5% YoY to ₹94.55 crore and net profit jumping 286% to ₹8.51 crore. Additionally, the company successfully converted warrants into equity, raising ₹4.77 crore to support working capital and growth.
- Annual Revenue from Operations jumped 101% YoY to ₹23,311.24 Lacs in FY26.
- Full-year Net Profit increased by 162.8% to ₹1,539.52 Lacs compared to ₹585.79 Lacs in FY25.
- Q4 FY26 Net Profit saw a massive 286% YoY growth, reaching ₹851.45 Lacs.
- Basic EPS for the year improved significantly to ₹9.99 from ₹4.18 in the previous fiscal.
- The company raised ₹477.495 lakhs through the conversion of 7,86,000 warrants into equity shares.
Panache Digilife Limited has submitted its statement of deviation for the quarter ended March 31, 2026, confirming that funds raised through preferential warrants were used as intended. The company received Rs. 4,77,49,500, representing the balance 75% of the total consideration for convertible warrants. These proceeds were fully utilized for business growth, working capital, and general corporate purposes. The Audit Committee has reviewed the statement and reported no deviations or variations from the original objects.
- Confirmed zero deviation or variation in the utilization of proceeds from preferential issue of convertible warrants.
- Received Rs. 4,77,49,500 on January 5, 2026, marking the receipt of the balance 75% consideration.
- Total funds of approximately Rs. 4.77 crore were fully deployed for business growth and working capital requirements.
- The Audit Committee and statutory auditors expressed no adverse comments on the fund utilization report.
Panache Digilife's Board has approved a significant capital expenditure of up to ₹100 crores for its wholly-owned subsidiary, Technofy Digital Private Limited. The investment is earmarked for expanding business operations, including the acquisition of land, buildings, plant machinery, and technology infrastructure. The company plans to fund this expansion through a combination of equity and debt. This move indicates a strategic push to scale its digital and technology-led business segments.
- Approved capital expenditure of up to ₹100 crores for Technofy Digital Private Limited.
- Investment covers land, building, plant & machinery, and technology infrastructure.
- Funding will be sourced through equity, debt, or a combination of both.
- Technofy Digital Private Limited is a 100% wholly-owned subsidiary of Panache Digilife.
Panache Digilife's board has approved an upfront investment of up to ₹2.25 crores in its wholly-owned subsidiary, Technofy Digital Private Limited. This capital infusion is intended to fund expansion of business operations and capital expenditure in the IT and electronics sector. Notably, the subsidiary has reported zero turnover for the past three financial years (FY24-FY26), suggesting this is a move to operationalize or scale a dormant unit. The investment will be made in cash and is expected to be completed within approximately six months.
- Board approved a cash investment of up to ₹2.25 crores in Technofy Digital Private Limited.
- Technofy Digital is a 100% wholly-owned subsidiary incorporated in June 2019.
- The subsidiary has reported NIL turnover for the last three consecutive financial years (FY24, FY25, and FY26).
- Investment is designated for strategic expansion and capital expenditure in IT and telecommunication products.
- The indicative timeline for the completion of this investment is approximately 6 months.
Panache Digilife Limited has officially appointed M/s. Sanket Sangoi & Associates as the Internal Auditor for the Financial Year 2026-27. The decision was finalized during a Board Meeting held on April 29, 2026, which concluded after an eight-hour session. The appointed firm, led by Mr. Sanket K. Sangoi, has been practicing since 2013 and specializes in statutory and internal audits. This appointment is a routine regulatory compliance measure under SEBI (LODR) Regulations, 2015.
- Appointment of M/s. Sanket Sangoi & Associates as Internal Auditor for the 2026-27 fiscal year.
- The Board Meeting was held on April 29, 2026, spanning from 12:00 p.m. to 8:00 p.m.
- Lead auditor Mr. Sanket K. Sangoi has been a fellow member of ICAI since 2012.
- The audit firm (FRN 137348W) has over 10 years of experience in tax and internal audit services.
Panache Digilife Limited has officially appointed M/s. Sanket Sangoi & Associates, Chartered Accountants, as the company's Internal Auditor for the 2026-27 financial year. The appointment was approved during a board meeting held on April 29, 2026, which concluded after an eight-hour session. The firm is led by Mr. Sanket K. Sangoi, who has been a fellow member of the ICAI since 2012 and has been practicing since 2013. This move is a standard regulatory compliance measure aimed at maintaining internal financial controls and audit standards.
- Appointment of M/s. Sanket Sangoi & Associates as Internal Auditor for the full Financial Year 2026-27.
- Lead auditor Mr. Sanket K. Sangoi brings over 14 years of professional experience since joining ICAI in 2012.
- The audit firm has been operational since 2013 under Registration Number 137348W.
- The Board Meeting approving the appointment was held on April 29, 2026, lasting from 12:00 p.m. to 8:00 p.m.
Panache Digilife reported a stellar performance for FY26, with standalone revenue from operations doubling to ₹233.11 crore compared to ₹115.93 crore in FY25. The company's net profit for the full year surged by 163% to ₹15.40 crore, despite an exceptional charge of ₹3.46 crore related to gratuity provisions and bad debt write-offs. Q4 performance was particularly strong, with revenue growing 57.5% YoY to ₹94.55 crore and net profit jumping 286% YoY to ₹8.51 crore. The company also successfully converted warrants into equity, raising ₹4.77 crore to fund business growth and working capital.
- Full-year FY26 standalone revenue grew 101% YoY to ₹233.11 crore from ₹115.93 crore in FY25
- Standalone Net Profit for FY26 increased by 163% to ₹15.40 crore from ₹5.86 crore
- Earnings Per Share (EPS) improved significantly to ₹9.99 in FY26 from ₹4.18 in the previous year
- Exceptional item of ₹3.46 crore includes bad debt write-offs and gratuity provisions under the new Labour Code
- Raised ₹4.77 crore through the conversion of 7.86 lakh warrants into equity shares for working capital
Panache Digilife Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended March 31, 2026. The company's Registrar and Share Transfer Agent, Bigshare Services Private Limited, confirmed that the entire shareholding of the company is already in dematerialized form. Consequently, no requests for dematerialization or rematerialization were received or processed during the quarter. This is a standard regulatory filing confirming the integrity of the company's share records.
- Compliance certificate issued for the quarter ended March 31, 2026.
- 100% of the company's shares are confirmed to be in demat form.
- Zero requests for dematerialization or rematerialization were received during the reporting period.
- Confirmation provided by Registrar and Share Transfer Agent, Bigshare Services Private Limited.
Panache Digilife Limited has officially withdrawn its proposed preferential issue of 6,07,348 warrants convertible into equity shares. The issue, which was intended for a non-promoter investor, was cancelled after the investor expressed unwillingness to proceed due to prevailing market volatility. Although the company had secured shareholder approval on March 13, 2026, and NSE in-principle approval on March 18, 2026, the allotment could not be completed within the mandatory 15-day regulatory window. The company maintains that this withdrawal will not materially impact its financial stability or business operations.
- Cancellation of 6,07,348 warrants convertible into equity shares previously approved for a non-promoter investor.
- Investor cited market conditions and volatility as the primary reasons for withdrawing participation.
- Failure to meet the SEBI-mandated 15-day allotment deadline following NSE's in-principle approval on March 18, 2026.
- Management states the withdrawal has no material impact on current operations or financial stability.
- Company intends to explore alternative avenues for capital raising as required in the future.
Panache Digilife Limited has notified the stock exchange regarding the closure of its trading window starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of audited financial results for the quarter and year ending March 31, 2026. The window will remain closed for all designated persons until 48 hours after the board meeting results are filed. This is a standard regulatory procedure for listed companies in India.
- Trading window closure begins on April 1, 2026.
- Closure is related to the audited financial results for the quarter and year ending March 31, 2026.
- The restriction applies to all Designated Persons and their immediate relatives.
- Window will reopen 48 hours after the financial results are approved and filed with the exchange.
Panache Digilife Limited held an Extraordinary General Meeting on March 13, 2026, to seek shareholder approval for a preferential issue. Shareholders approved the issuance of up to 6,07,348 warrants to non-promoters, which are convertible into equity shares on a 1:1 basis. Each warrant can be exchanged for one equity share within a maximum period of 18 months from the date of allotment. This special resolution was passed with the requisite majority, indicating strong shareholder support for the fundraising initiative.
- Issuance of 6,07,348 warrants to non-promoters on a preferential basis approved by shareholders.
- Warrants are convertible into equity shares on a 1:1 basis within a period of 18 months.
- The resolution was passed as a Special Resolution during the EGM held on March 13, 2026.
- The fundraising is aimed at non-promoter investors to strengthen the company's capital base.
Panache Digilife Limited held an Extraordinary General Meeting on March 13, 2026, where shareholders approved a significant fundraise. The company received approval to issue up to 6,07,348 warrants to non-promoters on a preferential basis. Each warrant is convertible into one equity share within a period of 18 months. This move is intended to strengthen the company's capital base and support its growth initiatives.
- Approval for issuance of up to 6,07,348 warrants to non-promoters on a preferential basis
- Each warrant is convertible into one equity share within 18 months of allotment
- Special resolution passed with requisite majority during the EGM held on March 13, 2026
- The meeting was conducted via video conferencing and concluded within 7 minutes
Panache Digilife Limited has provided a revised disclosure regarding its proposal to issue 6,07,348 convertible warrants into equity shares. The company clarified that while a valuation report from an Independent Registered Valuer is not mandatory under SEBI Regulation 166A, it has proactively obtained one from Mrs. Dipti Zaveri as a precaution. This update was part of the 'In-principle approval' process with the National Stock Exchange. The disclosure ensures regulatory compliance for the upcoming fundraise discussed at the EGM held on March 13, 2026.
- Proposed issuance of 6,07,348 Convertible Warrants into Equity Shares.
- Clarified that valuation report is not mandatory under Regulation 166A of SEBI (ICDR) Regulations.
- Obtained a precautionary valuation report from IBBI registered valuer Mrs. Dipti Zaveri.
- Disclosure made to satisfy NSE requirements for 'In-principle approval' prior to allotment.
Panache Digilife Limited has called for an Extraordinary General Meeting (EGM) on March 13, 2026, to approve a preferential issue of 6,07,348 warrants. These warrants are being issued to a non-promoter investor, Bhushan Gaonkar, at a price of ₹355 per warrant, representing a total fundraise of approximately ₹21.56 Crores. The company will receive 25% of the total amount (₹88.75 per warrant) upfront, with the remaining 75% payable upon conversion into equity shares within 18 months. This capital infusion is intended to support the company's financial requirements and growth objectives.
- Issuance of 6,07,348 warrants convertible into equity shares on a preferential basis to a non-promoter.
- Total fundraise amount fixed at ₹21,56,08,540 with an issue price of ₹355 per warrant.
- Upfront payment of 25% (₹5.39 Crores) required at allotment, with 75% due upon exercise within 18 months.
- The issue price of ₹355 is slightly above the calculated floor price of ₹354.94 based on the relevant date of Feb 11, 2026.
- Extraordinary General Meeting (EGM) scheduled for March 13, 2026, to obtain shareholder approval.
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.