Incorporated in 1984, Panacea Biotec Ltd is a research-based biotechnology company[1]
Business Overview:[1]a)PBL is in the business of research, development, manufacture and marketing of branded vaccines, pharmaceutical formulations, nutraceuticals and food & nutrition productsb)It is one of the largestVaccine Manufacturing Companyin India and is acknowledged by the United Nations (UN) Health Agencies in partnering the Global Polio Eradication Initiative (GPEI) with supplies of billions of doses of WHO Pre-qualified Polio vaccines in 50+ countries worldwide as a sequel to the completion of full range of Oral polio vaccines (tOPV, mOPV1, mOPV3 & bOPV (Type1&Type3)c)It is the first company to have developed fully liquid Pentavalent vaccine (DTwP-Hep B+Hib)EasyFiveand world’s first fully-liquid wP-IPV based Hexavalent vaccine (DTwP +HepB +Hib +IPV)EasySix
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Sun Pharma.Inds. | 1700.70 | 35.35 | 408054.90 | 0.94 | 3124.95 | 2.56 | 14478.31 | 8.93 | 20.21 | 54964.01 | 30.12 | 11543.96 | 3117.95 | 5.24 | 12.97 | 0.07 |
| 2. | Divi's Lab. | 6355.50 | 67.89 | 168718.56 | 0.47 | 689.00 | 35.10 | 2715.00 | 16.12 | 20.44 | 10029.00 | 32.37 | 2485.00 | 689.00 | 10.95 | 13.53 | 0.01 |
| 3. | Torrent Pharma. | 4003.70 | 62.54 | 135503.40 | 0.80 | 591.00 | 32.49 | 3302.00 | 14.30 | 27.05 | 12248.00 | 32.60 | 2166.53 | 600.17 | 16.04 | 13.26 | 0.33 |
| 4. | Cipla | 1434.50 | 21.30 | 115874.78 | 0.91 | 1353.37 | 3.73 | 7589.44 | 7.64 | 22.72 | 28349.57 | 25.40 | 5441.14 | 1351.17 | 3.52 | 14.72 | 0.01 |
| 5. | Lupin | 2195.90 | 23.19 | 100308.45 | 0.55 | 1484.83 | 73.34 | 7047.51 | 24.23 | 21.30 | 24750.69 | 27.25 | 4324.63 | 1477.92 | 5.11 | 12.41 | 0.32 |
| 6. | Dr Reddy's Labs | 1186.50 | 17.16 | 99028.89 | 0.67 | 1336.80 | 7.28 | 8828.30 | 9.83 | 22.69 | 34310.00 | 24.64 | 5772.20 | 1347.10 | 2.75 | 12.95 | 0.16 |
| 7. | Mankind Pharma | 2244.40 | 52.99 | 92649.97 | 0.04 | 520.18 | -22.00 | 3697.16 | 20.77 | 15.98 | 13545.67 | 24.12 | 1748.55 | 511.51 | 6.06 | 8.89 | 0.55 |
| 8. | Panacea Biotec | 394.50 | – | 2416.34 | 0.00 | -15.64 | -1312.40 | 90.81 | 18.49 | -2.14 | 379.39 | -5.25 | -25.08 | -15.64 | 8.29 | -1.88 | 0.96 |
| – | Median: 149 Co. | 394.5 | 29.56 | 1738.64 | 0.12 | 13.49 | 11.71 | 161.76 | 11.11 | 14.89 | 574.01 | 15.93 | 45.26 | 13.96 | 3.18 | 8.56 | 0.22 |
Standalone figures in ₹ crores
| Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 61.34 | 49 | 72 | 75 | 89 | 95 | 95 | 80 | 57 | 77 | 108 | 68 | 112 | 91 |
Expenses | 133.36 | 55 | 60 | 72 | 83 | 85 | 89 | 90 | 67 | 70 | 93 | 86 | 115 | 105 |
Operating Profit | -72.02 | -6 | 12 | 3 | 7 | 10 | 7 | -9 | -10 | 7 | 15 | -19 | -3 | -14 |
Other Income | 6.53 | 8 | 10 | 10 | 3 | 2 | 3 | 16 | 4 | 3 | 3 | 6 | 5 | 4 |
Profit before tax | -74.24 | -7 | 13 | 5 | 1 | 3 | 1 | -1 | -15 | 1 | 10 | -22 | -9 | -21 |
Tax % | 0.00% | 0% | 0% | 486% | 0% | 0% | 60% | 1% | -8% | 1% | 0% | -44% | -24% | -25% |
Net Profit | -74.24 | -7 | 13 | -20 | 1 | 3 | 0 | -1 | -14 | 1 | 10 | -12 | -7 | -16 |
EPS in Rs | -12.11 | -1.12 | 2.16 | -3.21 | 0.21 | 0.52 | 0.07 | -0.22 | -2.25 | 0.21 | 1.57 | -2.02 | -1.09 | -2.55 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 498 | 679 | 647 | 530 | 184 | 96 | 158 | 344 | 236 | 257 | 360 | 310 | 379 |
Expenses | 586 | 612 | 534 | 460 | 192 | 243 | 248 | 343 | 308 | 320 | 345 | 317 | 399 |
Operating Profit | -88 | 68 | 113 | 70 | -8 | -147 | -90 | 0 | -73 | -63 | 14 | -7 | -20 |
Other Income | 304 | 28 | 75 | 16 | 84 | 322 | -14 | 21 | 13 | 34 | 25 | 17 | 18 |
Interest | 148 | 93 | 115 | 104 | 103 | 105 | 5 | 8 | 7 | 10 | 14 | 15 | 20 |
Depreciation | 69 | 66 | 71 | 66 | 34 | 33 | 27 | 27 | 26 | 24 | 21 | 20 | 20 |
Profit before tax | -0 | -63 | 1 | -84 | -61 | 37 | -136 | -13 | -94 | -63 | 4 | -26 | -42 |
Net Profit | -0 | -65 | 1 | -73 | -72 | 27 | -153 | -14 | -94 | -88 | 4 | -15 | -25 |
EPS in Rs | -0.07 | -10.64 | 0.14 | -11.85 | -11.73 | 4.33 | -24.97 | -2.36 | -15.27 | -14.28 | 0.58 | -2.48 | -4.09 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
Reserves | 556 | 517 | 518 | 450 | 382 | 412 | 887 | 502 | 409 | 320 | 323 | 308 | 286 |
Borrowings | 990 | 1,031 | 1,035 | 1,023 | 970 | 689 | 67 | 65 | 84 | 102 | 125 | 228 | 280 |
Other Liabilities | 334 | 325 | 248 | 303 | 316 | 335 | 179 | 217 | 263 | 296 | 300 | 327 | 280 |
Total Liabilities | 1,886 | 1,879 | 1,807 | 1,782 | 1,673 | 1,442 | 1,138 | 790 | 762 | 724 | 754 | 869 | 851 |
Fixed Assets | 1,086 | 1,060 | 988 | 942 | 891 | 496 | 499 | 464 | 454 | 435 | 423 | 416 | 446 |
Gross Block | 1,493.54 | 1,532.12 | 1,518.16 | 1,536.97 | 1,542.55 | 813.95 | 905.42 | 893.02 | 907.86 | 908.57 | 900.61 | 914.42 | – |
Accumulated Depreciation | 407.59 | 472.44 | 530.58 | 594.95 | 651.62 | 317.52 | 406.14 | 428.77 | 453.83 | 473.21 | 477.58 | 498.12 | – |
CWIP | 26 | 17 | 19 | 28 | 37 | 3 | 4 | 13 | 1 | 28 | 97 | 119 | 97 |
Investments | 394 | 395 | 395 | 345 | 345 | 3 | 3 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Assets | 380 | 408 | 406 | 467 | 401 | 940 | 633 | 313 | 307 | 260 | 234 | 334 | 309 |
Total Assets | 1,886 | 1,879 | 1,807 | 1,782 | 1,673 | 1,442 | 1,138 | 790 | 762 | 724 | 754 | 869 | 851 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 53 | 45 | 98 | 104 | 172 | 107 | -83 | 38 | -53 | -11 | 33 | 4 |
Cash from Investing Activity | -18 | -29 | 23 | -18 | -3 | -10 | -17 | -37 | 40 | 2 | -47 | -61 |
Cash from Financing Activity | -38 | -11 | -129 | -91 | -164 | -98 | 109 | -7 | 10 | 9 | 13 | 90 |
Net Cash Flow | -3 | 5 | -8 | -5 | 6 | -2 | 10 | -6 | -3 | 1 | -1 | 33 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 66 | 54 | 80 | 121 | 283 | 96 | 41 | 37 | 36 | 17 | 11 | 25 |
Inventory Days | 310 | 178 | 233 | 304 | 618 | 203 | 619 | 180 | 421 | 260 | 278 | 541 |
Days Payable | 397 | 236 | 295 | 490 | 1,002 | 373 | 847 | 257 | 472 | 289 | 299 | 586 |
Cash Conversion Cycle | -20 | -4 | 17 | -65 | -102 | -74 | -188 | -39 | -15 | -12 | -10 | -21 |
Working Capital Days | -403 | -229 | -80 | -133 | -682 | -49 | 892 | 4 | -63 | -135 | -79 | -141 |
ROCE % | -9% | 2% | 4% | 4% | 3% | -14% | -8% | -1% | -16% | -13% | 4% | -2% |
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Panacea Biotec Limited is a research-based biotechnology company engaged in the development, manufacture, and marketing of vaccines and pharmaceutical formulations. It is a significant player in vaccine manufacturing in India and globally.
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