Panchatv BharatIPO Review — Financials, Valuation & Peers
A data-only look at the Panchatv Bharat IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2023 | 24.45 | 0.34 | 0.82 | 1.1 | 12.45 | 7.08 | — |
| FY 2024 | 39.31 | 2.02 | 3.22 | 3.39 | 16.88 | 7.66 | — |
| FY 2025 | 48.99 | 2.83 | 4.55 | 9.05 | 27.16 | 7.74 | 6.91 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 17.38x
- P/E (post-issue)
- 24.83x
- RoNW
- 31.25%
- RoCE
- 26.81%
- Debt / Equity
- 0.86
- EPS (pre-issue)
- ₹6.91
- EPS (post-issue)
- ₹4.83
- EBITDA Margin
- 9.29%
- PAT Margin
- 5.77%
- P/BV
- 5.43x
- NAV / share
- ₹22.1
- Market Cap
- ₹70.22 Cr
As of 31 Mar 2025 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV |
|---|---|---|---|---|---|
| Panchatv Bharat | 9.84 | 30.83 | 14.23x | 31.93% | — |
| Anjani Synthetics Ltd. | 2.57 | 60.64 | 9.05x | 4.24% | 0.38x |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Sanjay Gupta, Sooraj Gupta</p>
- Holding (pre-issue)
- 92.91%
- Holding (post-issue)
- 65.02%
- Dilution
- 27.89%
Analysis in brief
Margin and return profile
Away from the price multiples, the offer document also discloses the shape of the underlying business. Panchatv Bharat operates at an EBITDA margin of 9.29% and a net (PAT) margin of 5.77% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 26.81%. At the upper band, the post-issue market capitalisation works out to about ₹70.22 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2025); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward working capital requirements (₹11.5 crore), alongside capital expenditure for setting up of corporate office and warehousing facility at ahmedabad (₹4.5 crore). In all, 3 objects are disclosed.
Financials
In FY2025, Panchatv Bharat reported revenue of ₹48.99 crore and a net profit of ₹2.83 crore. Revenue grew from ₹24.45 crore in FY2023 to ₹48.99 crore in FY2025 (+100.0%). Net worth stood at ₹9.05 crore at the end of FY2025. At the upper band, that puts the issue at roughly 20.3× FY2025 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 24.83× post-issue earnings and 5.43× book value, against a return on net worth of 31.25% and a debt-to-equity ratio of 0.86. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Sanjay Gupta, Sooraj Gupta</p>. Promoter holding stands at 92.91% before the issue and comes down to 65.02% after listing.
Frequently asked questions
- Who are the promoters of Panchatv Bharat and what is their holding?
- The promoters are <p>Sanjay Gupta, Sooraj Gupta</p>. Promoter holding is 92.91% before the issue and 65.02% after listing.
- What is the P/E ratio of the Panchatv Bharat IPO?
- At the upper price band, the Panchatv Bharat IPO is valued at 17.38× pre-issue earnings and 24.83× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Panchatv Bharat IPO?
- The net proceeds go primarily toward working capital requirements, among 3 disclosed objects.