# Panama Petrochem share price today (Panama Petrochem Ltd, NSE: PANAMAPET)

> Panama Petrochem share price today: ₹465.85 at the NSE close on 3 November 2026, up 73.9% in a year. Panama Petrochem (NSE: PANAMAPET) is worth ₹2,816 crore, trades at a P/E of 5.9 and has closed between ₹250.60 and ₹504.80 over the past 52 weeks. > Panama Petrochem Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 2% of past readings. PANAMAPET · Speciality Chemicals · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/panama-petrochem-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹465.85 (+73.9% in a year)
- P/E: 5.9× (lower than 98% of the last 11 years)
- Revenue (Jun 2026): ₹1,735 Cr (+150.4% on a year ago)
- Profit (Jun 2026): ₹309 Cr (+618.6% on a year ago)
- Operating margin: 22.0% (+14.0 points on a year ago)
- ROCE: 19%, FY26
- ROIC: 32.5%, against a 12.0% cost of capital: +20.5 points

The main question: profits are rising, but only 11% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Panama Petrochem share price today? Panama Petrochem Ltd's share price was ₹465.85 at the close on 3 November 2026. It has been rising for 21 weeks. That is 14.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹251 and ₹505, and at that close it sat 85% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running. Over the last 11 years the share price moved +1,086% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Panama Petrochem this quarter? 1. Best operating margin in 16 quarters Operating margin was 22% in the June 2026 quarter, against 8% a year earlier. 3. Highest quarterly profit in 16 quarters Profit of ₹309 crore in the June 2026 quarter is the highest of the last 16 quarters. ## What are Panama Petrochem's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Panama Petrochem reported revenue of ₹1,735 crore, up 150.4% from ₹693 crore a year earlier, and a profit of ₹309 crore, up 618.6% from ₹43.0 crore. ### Panama Petrochem results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,735 crore | ₹693 crore | +150.4% |
| Profit | ₹309 crore | ₹43.0 crore | +618.6% |
| Earnings per share | ₹51.06 | ₹7.05 | +624.3% |
| Operating margin | 22.0% | 8.0% | +14.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 9 November 2023, about July to September 2023; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Panama Petrochem share price history? Panama Petrochem closed at ₹465.85 on 3 November 2026, up 73.9% from ₹267.95 a year earlier (31 October 2025) and up 81.9% over five years. Its highest weekly close since March 2016 was ₹504.80 on 7 August 2026. ### Panama Petrochem share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹448.75 | +3.8% |
| 1 month ago · 1 Oct 2026 | ₹486.95 | −4.3% |
| 6 months ago · 30 Apr 2026 | ₹279.81 | +66.5% |
| 1 year ago · 31 Oct 2025 | ₹267.95 | +73.9% |
| 3 years ago · 3 Nov 2023 | ₹315.15 | +47.8% |
| 5 years ago · 4 Nov 2021 | ₹256.15 | +81.9% |
| 10 years ago · 4 Nov 2016 | ₹63.67 | +631.7% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹39.27 | +1,086.3% |
| Highest weekly close since March 2016, also the 52-week high · 7 Aug 2026 | ₹504.80 | −7.7% |
| Lowest weekly close since March 2016 · 27 Mar 2020 | ₹28.30 | +1,546.1% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹250.60 | +85.9% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Panama Petrochem? 3 Nov 2026: Panama Petrochem closed at ₹465.85, up 3.8% on the week and down 4.3% on the month. 17 Aug 2026: ex-date for a dividend of ₹3 a share. ### Earlier

- Results for April to June 2026: Revenue up 150.4% and profit up 618.6% on a year earlier. - 9 Nov 2023: Panama Petrochem held its results call for July to September 2023. ## What dividend does Panama Petrochem pay? Panama Petrochem paid ₹3 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.64% at the ₹465.85 close on 3 November 2026. The last was a dividend of ₹3 a share, ex-date 17 August 2026. ### Panama Petrochem dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 17 Aug 2026 | ₹3 | Dividend | same day |
| 2 Sep 2025 | ₹3 | Dividend | same day |
| 22 Nov 2024 | ₹2 | Interim | same day |
| 22 Aug 2024 | ₹4 | Dividend | same day |
| 17 Nov 2023 | ₹3 | Interim | same day |
| 22 Aug 2023 | ₹5 | Dividend | n/a |
| 23 Nov 2022 | ₹3 | Interim | 24 Nov 2022 |
| 26 Aug 2022 | ₹6 | Dividend | n/a |
| 25 Nov 2021 | ₹2 | Interim | 26 Nov 2021 |
| 27 Aug 2021 | ₹2 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Panama Petrochem Ltd paid out 9% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Panama Petrochem management say on the latest results call? On the call for July to September 2023, held on 9 November 2023, Panama Petrochem's management spoke about the quarter; the main points are below. Source: [the call transcript](https://files.tijorifinance.com/insight/india/2792/Conference Call/CC-Sep23.pdf). (From the call for July to September 2023, 9 November 2023. The April to June 2026 results are out since, so this part may be out of date until we update it.)

## What is the future of Panama Petrochem? What is changing in the business? What is changing at Panama Petrochem, from the latest results and calls: specialty-product mix, capacity conversion and input-cost repricing. - Specialty-product mix. The Value Chain Climb could improve retained profit if specialty products reach repeatable revenue scale. ⚠ estimate
- Capacity conversion. Historical capacity additions could support sales, but current commissioning and utilization need confirmation. ⚠ estimate
- Input-cost repricing. Monthly repricing historically offered a mechanism to pass input inflation to customers. ⚠ estimate
- Drilling-product commercialization. Commercial drilling-product supply is a historical option whose current earnings contribution is unknown. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the April to June 2026 results, written 10 October 2026.)

## What could change the Panama Petrochem story? What are the risks? A subsequent reporting period that repeats elevated operating profitability while releasing working capital, without additional borrowing, and attributes the result to identifiable recurring customers and specialty-product sales would overturn the peak-earnings warning. ### Each change stops working if

- Specialty-product mix: Specialty-product revenue fails to scale or customer price concessions remove its margin advantage. - Capacity conversion: Added capacity remains underused or requires price cuts and inventory funding to generate shipments. - Input-cost repricing: Customer repricing lags procurement costs or competitors force concessions. - Drilling-product commercialization: Commercial trials fail to become repeat orders or consume cash without incremental operating profit. ### The main risks

- : The trailing discount depends on unusually elevated margins. ⚠ estimate
- Working-capital and borrowing gap: Reported profits are not becoming operating cash. ⚠ estimate
- Single-quarter earnings concentration: An operating profit jump still needs evidence of persistence. ⚠ estimate
- Guidance vintage and execution uncertainty: Historical expansion and mix promises cannot substitute for current execution evidence. ⚠ estimate

(Our read after the April to June 2026 results, written 10 October 2026.)

## What to watch in Panama Petrochem's next results? When Panama Petrochem reports July to September 2026, these are the 5 checks that show whether the story is still on course. First: Operating margin falls toward its normalized level while sales remain elevated. | What to check | Why |
| --- | --- |
| Operating margin falls toward its normalized level while sales remain elevated. |  |
| Operating cash remains negative, inventory or receivable days rise, or borrowing increases despite reported profits. | Working-capital and borrowing gap |
| Sales and operating profit reverse together or the next disclosure identifies a temporary shipment or reporting-scope effect. | Single-quarter earnings concentration |
| Management repeats plans without reporting commissioning, customer conversion and cash collection. | Guidance vintage and execution uncertainty |
| Sales rise while operating margin falls and inventory accumulates. | Pass-through and competitive offsets |

## Which stock lists is Panama Petrochem on? Panama Petrochem is not on any of our India lists this week. ## Is Panama Petrochem profitable? Panama Petrochem Ltd earned ₹309 Cr of net profit in the Jun 2026 quarter, +618.6% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹212 Cr. Over 10 years profit has grown 23.8% a year on average. That is 17.8% of the quarter's revenue. The same quarter a year earlier earned ₹43.0 Cr. For the full year, FY26 profit was ₹212 Cr (+13.4% on the year before). Why profit moved: revenue changed +150.4% on a year earlier and the margin moved +14.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +174.1% and revenue +46.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Panama Petrochem make, and is it growing? Panama Petrochem Ltd reported ₹1,735 Cr of revenue in the Jun 2026 quarter, +150.4% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown 15.1% a year on average. The last full year, FY26, came in at ₹3,064 Cr. Why this happened. Management historically described shifting expansion toward value-added products. The mechanism is a change in realized product economics, rather than volume alone. Current mix, incremental gross profit and customer retention are unavailable, so the latest margin jump cannot be assigned to this strategy. Competitor response and customer bargaining remain unknown. The last four reported quarters add to ₹4,106 Cr. FY26 revenue was ₹3,064 Cr, +9.7% on the year before. Recent pace: the last four quarters grew +46.5% on average, against 15.1% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +45.9%, against +28.2% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +167.6%, against +55.1% a year (accelerating). ## How much of every ₹100 of sales does Panama Petrochem keep? Panama Petrochem Ltd's operating margin was 22.0% in the Jun 2026 quarter, 14.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 4.0% and 14.0%. The latest quarter is above every full year in that period. Why this happened. The Input Cost Pass-Through Test is relevant because management described monthly customer repricing. The company retains a benefit only if customer prices adjust before input and financing costs absorb it. Current price realization and gross-margin data are absent; historical pass-through does not prove current pricing power. Why the margin moved: operating margin changed +14.4 percentage points on the year while gross margin changed +14.2 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Panama Petrochem's profit turning into cash? Over the last 3 years, 11% of Panama Petrochem Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 its operations used ₹69.0 Cr of cash, against ₹212 Cr of profit. After ₹52.0 Cr of spending on assets, free cash was −₹121 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 11% of profit came in as cash: the cash cycle got 29 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 29 days longer. The next section looks at where the cash is stuck. ## Where does Panama Petrochem's cash go? Panama Petrochem Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 123 days in FY26, up from 94 days in FY21. It spent ₹144 Cr on assets over the last 3 years. Customers take 68 days to pay, and stock sits for 97 days on average. Why this happened. The last supplied call reported expansion and high utilization. Added capacity can remove a production constraint only when orders convert into shipped product and collections. No current commissioning dates or incremental capacity contribution are supplied. This driver overlaps with product mix and is not assigned a separate additive profit benefit. At FY26 sales of ₹3,064 Cr, each day of that cycle ties up about ₹8.4 Cr, so roughly ₹1,033 Cr is tied up in the business at any time. FY26: customers took 68 days to pay and stock sat for 97 days, about 3.2 months of sales sitting as stock, for a full cycle of 123 days, longer than FY21's 94. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 97 days. Customers pay about 68 days after that. Suppliers are paid at 43 days. Together that makes the 123-day cycle. Spending on assets: ₹144 Cr over the last 3 years, against ₹36.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹48.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Panama Petrochem's P/E ratio, and how does it compare with its own history? Panama Petrochem Ltd's P/E is 5.9×, about the lowest it has ever been. Its usual P/E (the middle reading) is 10.7×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +13.6% while the price moved +73.9%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +12.7% a year; about +20.4% a year came from earnings growth and about −7.7 percentage points from the multiple (the market paying less); over 10 years the price moved +22.0% a year; about +31.9% a year came from earnings growth and about −9.9 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Panama Petrochem share price assume? Worked out from its price on 11 October 2026, Panama Petrochem Ltd's share price assumed profit growth of about 7.6% a year. Over the past 10 years its profit actually grew 23.8% a year. Today its P/E is 5.9×, lower than 98% of its own last 11 years. This is a one-day reading, taken on 11 October 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Panama Petrochem business getting better or worse? Panama Petrochem Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE rising at 43.2%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Panama Petrochem story, and has it been checked? Panama Petrochem Ltd's story is not scored yet against the checks our research set on 10 October 2026. Where it sits in its own cycle: EARLY EXPANSION. Our read, 10 October 2026. From the numbers. Earnings are rising, but their current level may not…

From the price. Price stage 2, week 21, above its 200-day line, relative strength falling. From the research. Where they disagree. Earnings are rising, but their current level may not persist. What is proven. What is not proven yet. A subsequent reporting period that repeats elevated operating profitability while releasing working capital, without additional borrowing, and attributes the result to identifiable recurring customers and specialty-product sales would overturn the peak-earnings warning. What would change our mind. A subsequent reporting period that repeats elevated operating profitability while releasing working capital, without additional borrowing, and attributes the result to identifiable recurring customers and specialty-product sales would overturn the peak-earnings warning. The test written in advance. A subsequent reporting period that repeats elevated operating profitability while releasing working capital, without additional borrowing, and attributes the result to identifiable recurring customers and specialty-product sales would overturn the peak-earnings warning. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Working-capital and borrowing gap. Measured by: Working-capital and borrowing gap Operating cash remains negative, inventory or receivable days rise, or borrowing increases despite reported profits. by the next result. What the company does. Reported sales and operating profit jumped together, so the earnings increase is not identified as an accounting one-off by the supplied checks. Historical specialty-product and capacity plans offer possible explanations, but stale calls and cash absorption prevent treating them as verified current growth engines. What the surface reading misses. The surface reading is: The latest quarter appears to establish a much higher earnings level. The research reads it further: Sales and operating profit both increase, establishing an operating contribution. The magnitude still requires a current shipment, price, mix and reporting-scope bridge. What the surface reading misses. The surface reading is: Profit growth suggests acceleration. The research reads it further: Operating profit rises faster than sales; lower interest and tax rates also support reported profit. Lever 2 · Value-added mix: building. The Value Chain Climb could improve retained profit if specialty products reach repeatable revenue scale. What proves it keeps working: Specialty-product mix. It stops working if Specialty-product revenue fails to scale or customer price concessions remove its margin advantage. Sources: our stock research file (10 October 2026) · quarterly results through Jun 2026. The story check is re-scored every results season; the record below never changes. ## How much does Panama Petrochem earn on its capital? Panama Petrochem Ltd earned a ROCE of 19% in FY26. That is up from a low of 9% in FY20. Its return on capital used (ROIC) is 20.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 6.9% net margin and 1.60× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 6.9% net margin × 1.60× asset turnover × 1.31× leverage (assets divided by equity) ≈ 14.5% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 32.5% − 12.0% = +20.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 32.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 16.8%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Panama Petrochem have too much debt? Panama Petrochem Ltd has total debt of ₹111 Cr against shareholder equity of ₹1,469 Cr as of Jun 2026, so its debt is 0.08× its equity, which is very little. Year by year, that ratio went from 0.04 in FY22 to 0.08 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Panama Petrochem shareholding pattern? Foreign institutions cut their stake in Panama Petrochem Ltd by 3.6 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 11.1% of the company. Promoters moved +1.2 points over the same period, to 63.2%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −3.6 points over 8 quarters, to 11.1%; Promoters: +1.2 points over 8 quarters, to 63.2%; Domestic institutions: +0.0 points over 8 quarters, to 0.0%. Why the owners changed: foreign institutions drove it (−3.6 points), with the other side taken by promoters (+1.2 points). They reduced their stake. ## How far is Panama Petrochem from balance-sheet trouble? For Panama Petrochem Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Panama Petrochem rank in its industry? 80.3 out of 100, rank 1 of 30 in Speciality Chemicals, with 96% of the evidence available. Panama Petrochem Ltd scores 80.3 out of 100 against the 30 companies it is compared with in Speciality Chemicals, ranking 1. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 30.8 + 15.9 + 19.7 + 13.9 = 80.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Panama Petrochem compared with? Panama Petrochem ranks 1 of 30 Speciality Chemicals companies on the 4-Factor Sector Score, with 80.3 out of 100. 1. Panama Petrochem Ltd this page PANAMAPET · turning · Sector-leading setup · 96% evidence 80.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.8/35 · Revenue 45.9% · Profit 100% · Operating margin change 14 points · 88% evidence Capital efficiency 15.9/25 · ROCE 19.2% · Operating margin 22% · 100% evidence Valuation 19.7/20 · P/E 5.7× · PEG 0.18 · 100% evidence Relative strength 13.9/20 · Lead over its industry 16.3% · Lead over NIFTY 500 31.3% · 1 year 68.1% · 100% evidence · 10 of 12 weeks ahead Exact sum: 30.8 + 15.9 + 19.7 + 13.9 = 80.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Yasho Industries Ltd](https://www.sectoralpha.in/stocks/yasho-industries-ltd) YASHO · losing its lead · Most evidence points up · 78% evidence 67.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.0/35 · Revenue 54.2% · Profit 100% · Operating margin change 3 points · 100% evidence Capital efficiency 12.3/25 · ROCE 8.9% · Operating margin 21% · 100% evidence Valuation 12.7/20 · P/E 45× · PEG 1.02 · 65% evidence Relative strength 12.2/20 · Lead over its industry n/a · Lead over NIFTY 500 41.1% · 1 year 103.4% · 25% evidence · 11 of 12 weeks ahead Exact sum: 30 + 12.3 + 12.7 + 12.2 = 67.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Vikram Thermo (India) Ltd](https://www.sectoralpha.in/stocks/vikram-thermo-indialtd) breaking out · Evidence leans up · 68% evidence 64.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.8/35 · Revenue 16.9% · Profit 41.9% · Operating margin change 8 points · 83% evidence Capital efficiency 21.3/25 · ROCE 36.2% · Operating margin 48% · 95% evidence Valuation 6.6/20 · P/E 25.8× · PEG n/a · 50% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 74.5% · 1 year n/a · 25% evidence · 12 of 12 weeks ahead Exact sum: 23.8 + 21.3 + 6.6 + 12.5 = 64.2 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 4. [Sunshield Chemicals Ltd](https://www.sectoralpha.in/stocks/sunshield-chemicals-ltd) SUNSHIEL · quiet · Evidence leans up · 81% evidence 64.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 12.9% · Profit 100% · Operating margin change 5 points · 88% evidence Capital efficiency 18.8/25 · ROCE 19.9% · Operating margin 16% · 100% evidence Valuation 10.8/20 · P/E 24.3× · PEG 2.21 · 100% evidence Relative strength 10.8/20 · Lead over its industry n/a · Lead over NIFTY 500 4.3% · 1 year -4% · 25% evidence · 0 of 5 weeks ahead Exact sum: 23.6 + 18.8 + 10.8 + 10.8 = 64 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Black Rose Industries Ltd](https://www.sectoralpha.in/stocks/black-rose-industries-ltd) BLACKROSE · quiet · Evidence leans up · 81% evidence 60.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.6/35 · Revenue 8.6% · Profit 28.6% · Operating margin change 6 points · 88% evidence Capital efficiency 16.4/25 · ROCE 18.7% · Operating margin 16% · 100% evidence Valuation 10.0/20 · P/E 17.1× · PEG 4.96 · 100% evidence Relative strength 10.9/20 · Lead over its industry n/a · Lead over NIFTY 500 4.4% · 1 year n/a · 25% evidence · 7 of 12 weeks ahead Exact sum: 23.6 + 16.4 + 10 + 10.9 = 60.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Tatva Chintan Pharma Chem Ltd](https://www.sectoralpha.in/stocks/tatva-chintan-pharma-chem-ltd) TATVA · losing its lead · Evidence leans up · 93% evidence 60.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.7/35 · Revenue 49.2% · Profit 100% · Operating margin change 1 points · 100% evidence Capital efficiency 8.7/25 · ROCE 7.2% · Operating margin 19% · 100% evidence Valuation 11.3/20 · P/E 60.2× · PEG 1.21 · 65% evidence Relative strength 11.4/20 · Lead over its industry 7.8% · Lead over NIFTY 500 23.3% · 1 year 15.6% · 100% evidence · 10 of 12 weeks ahead Exact sum: 28.7 + 8.7 + 11.3 + 11.4 = 60.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Aether Industries Ltd](https://www.sectoralpha.in/stocks/aether-industries-ltd) AETHER · leader · Evidence leans up · 90% evidence 59.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.4/35 · Revenue 30.2% · Profit 28.4% · Operating margin change 1 points · 100% evidence Capital efficiency 12.8/25 · ROCE 11.9% · Operating margin 32% · 100% evidence Valuation 9.7/20 · P/E 85.1× · PEG n/a · 50% evidence Relative strength 14.8/20 · Lead over its industry 22.3% · Lead over NIFTY 500 38.6% · 1 year 114.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.4 + 12.8 + 9.7 + 14.8 = 59.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Privi Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/privi-speciality-chemicals-ltd) PRIVISCL · quiet · Evidence leans up · 82% evidence 59.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.7/35 · Revenue 17.5% · Profit 44.5% · Operating margin change -1 points · 95% evidence Capital efficiency 18.5/25 · ROCE 22.3% · Operating margin 26% · 76% evidence Valuation 10.1/20 · P/E 33.7× · PEG n/a · 50% evidence Relative strength 7.1/20 · Lead over its industry -9.7% · Lead over NIFTY 500 4.2% · 1 year 10.5% · 100% evidence · 2 of 12 weeks ahead Exact sum: 23.7 + 18.5 + 10.1 + 7.1 = 59.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Fineotex Chemical Ltd](https://www.sectoralpha.in/stocks/fineotex-chemical-ltd) FCL · leader · Evidence leans up · 96% evidence 59.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.3/35 · Revenue 91.5% · Profit 41% · Operating margin change -2 points · 88% evidence Capital efficiency 13.5/25 · ROCE 18.3% · Operating margin 16% · 100% evidence Valuation 5.7/20 · P/E 46.1× · PEG 1.92 · 100% evidence Relative strength 19.5/20 · Lead over its industry 34.1% · Lead over NIFTY 500 48.9% · 1 year 62.9% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.3 + 13.5 + 5.7 + 19.5 = 59 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [DMCC Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/dmcc-speciality-chemicals-ltd) DMCC · quiet · Evidence leans up · 93% evidence 55.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.9/35 · Revenue 72.1% · Profit 34.5% · Operating margin change -6.9 points · 100% evidence Capital efficiency 8.7/25 · ROCE 14.8% · Operating margin 4.2% · 100% evidence Valuation 16.1/20 · P/E 16.9× · PEG 0.44 · 65% evidence Relative strength 7.8/20 · Lead over its industry -12.3% · Lead over NIFTY 500 0.9% · 1 year -15.5% · 100% evidence · 9 of 12 weeks ahead Exact sum: 22.9 + 8.7 + 16.1 + 7.8 = 55.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Aarti Industries Ltd](https://www.sectoralpha.in/stocks/aarti-industries-ltd) AARTIIND · quiet · Evidence leans up · 100% evidence 55.2 out of 100 Growth Capital Valuation Relative
12. [Galaxy Surfactants Ltd](https://www.sectoralpha.in/stocks/galaxy-surfactants-ltd) GALAXYSURF · leader · Evidence leans up · 81% evidence 53.9 out of 100 Growth Capital Valuation Relative
13. [Pidilite Industries Ltd](https://www.sectoralpha.in/stocks/pidilite-industries-ltd) PIDILITIND · quiet · Evidence leans up · 100% evidence 53.0 out of 100 Growth Capital Valuation Relative
14. [DIC India Ltd](https://www.sectoralpha.in/stocks/dic-india-ltd) DICIND · breaking out · Evidence leans up · 81% evidence 53.0 out of 100 Growth Capital Valuation Relative
15. [Kronox Lab Sciences Ltd](https://www.sectoralpha.in/stocks/kronox-lab-sciences-ltd) KRONOX · breaking out · Evidence leans up · 74% evidence 51.8 out of 100 Growth Capital Valuation Relative
16. [Neogen Chemicals Ltd](https://www.sectoralpha.in/stocks/neogen-chemicals-ltd) NEOGEN · leader · Evidence leans up · 90% evidence 51.5 out of 100 Growth Capital Valuation Relative
17. [Chemcon Speciality Chemicals Ltd](https://www.sectoralpha.in/stocks/chemcon-speciality-chemicals-ltd) CHEMCON · breaking out · Evidence leans up · 85% evidence 51.1 out of 100 Growth Capital Valuation Relative
18. [Alkyl Amines Chemicals Ltd](https://www.sectoralpha.in/stocks/alkyl-amines-chemicals-ltd) ALKYLAMINE · quiet · Evidence leans down · 96% evidence 47.9 out of 100 Growth Capital Valuation Relative
19. [Grauer & Weil (India) Ltd](https://www.sectoralpha.in/stocks/grauer-weil-indialtd) GRAUWEIL · breaking out · Evidence leans down · 96% evidence 46.3 out of 100 Growth Capital Valuation Relative
20. [Paushak Ltd](https://www.sectoralpha.in/stocks/paushak-ltd) PAUSHAKLTD · losing its lead · Evidence leans down · 85% evidence 45.8 out of 100 Growth Capital Valuation Relative
21. [Innovassynth Technologies (India) Ltd](https://www.sectoralpha.in/stocks/innovassynth-technologies-indialtd) breaking out · Too little evidence to rank firmly · 53% evidence 44.0 out of 100 Growth Capital Valuation Relative
22. [Anupam Rasayan India Ltd](https://www.sectoralpha.in/stocks/anupam-rasayan-india-ltd) ANURAS · turning · Evidence leans down · 78% evidence 43.7 out of 100 Growth Capital Valuation Relative
23. [Platinum Industries Ltd](https://www.sectoralpha.in/stocks/platinum-industries-ltd) PLATIND · turning · Evidence leans down · 81% evidence 42.5 out of 100 Growth Capital Valuation Relative
24. [Vinati Organics Ltd](https://www.sectoralpha.in/stocks/vinati-organics-ltd) VINATIORGA · quiet · Evidence leans down · 82% evidence 42.4 out of 100 Growth Capital Valuation Relative
25. [Amal Ltd](https://www.sectoralpha.in/stocks/amal-ltd) AMAL · quiet · Evidence leans down · 68% evidence 41.5 out of 100 Growth Capital Valuation Relative
26. [Amines & Plasticizers Ltd](https://www.sectoralpha.in/stocks/amines-plasticizers-ltd) AMNPLST · quiet · Evidence leans down · 81% evidence 41.1 out of 100 Growth Capital Valuation Relative
27. [Transpek Industry Ltd](https://www.sectoralpha.in/stocks/transpek-industry-ltd) TRANSPEK · losing its lead · Evidence leans down · 63% evidence 38.6 out of 100 Growth Capital Valuation Relative
28. [Vishnu Chemicals Ltd](https://www.sectoralpha.in/stocks/vishnu-chemicals-ltd) VISHNU · losing its lead · Evidence leans down · 100% evidence 38.4 out of 100 Growth Capital Valuation Relative
29. [Clean Science & Technology Ltd](https://www.sectoralpha.in/stocks/clean-science-technology-ltd) CLEAN · breaking out · Evidence leans down · 85% evidence 38.1 out of 100 Growth Capital Valuation Relative
30. [Thirumalai Chemicals Ltd](https://www.sectoralpha.in/stocks/thirumalai-chemicals-ltd) TIRUMALCHM · quiet · Most evidence points down · 68% evidence 27.2 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Speciality Chemicals](https://www.sectoralpha.in/sectors/speciality-chemicals), all 30 compared on one page. ## Which companies are close to Panama Petrochem in size? Panama Petrochem is the 16th largest of 30 Speciality Chemicals companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Tatva Chintan Pharma Chem, Vishnu Chemicals and Grauer & Weil (India). Just below it: Innovassynth Technologies (India), Paushak and Thirumalai Chemicals. ### Speciality Chemicals companies close in size

1. [Tatva Chintan Pharma Chem Ltd](https://www.sectoralpha.in/stocks/tatva-chintan-pharma-chem-ltd) ₹3,845 crore
2. [Vishnu Chemicals Ltd](https://www.sectoralpha.in/stocks/vishnu-chemicals-ltd) ₹3,650 crore
3. [Grauer & Weil (India) Ltd](https://www.sectoralpha.in/stocks/grauer-weil-indialtd) ₹3,640 crore
4. Panama Petrochem Ltd ₹2,726 crore
5. [Innovassynth Technologies (India) Ltd](https://www.sectoralpha.in/stocks/innovassynth-technologies-indialtd) ₹1,468 crore
6. [Paushak Ltd](https://www.sectoralpha.in/stocks/paushak-ltd) ₹1,450 crore
7. [Thirumalai Chemicals Ltd](https://www.sectoralpha.in/stocks/thirumalai-chemicals-ltd) ₹1,378 crore

[All 30 Speciality Chemicals companies, largest first](https://www.sectoralpha.in/sectors/speciality-chemicals#all-companies)

### Companies close in size in other industries

1. [Varmora Granito Ltd](https://www.sectoralpha.in/stocks/varmora-granito-ltd) ₹2,739 crore
2. [Carysil Ltd](https://www.sectoralpha.in/stocks/carysil-ltd) ₹2,735 crore · Building Material USA
3. Panama Petrochem Ltd ₹2,726 crore
4. [Carraro India Ltd](https://www.sectoralpha.in/stocks/carraro-india-ltd) ₹2,721 crore · Auto Ancillaries - Diversified
5. [Ashoka Buildcon Ltd](https://www.sectoralpha.in/stocks/ashoka-buildcon-ltd) ₹2,706 crore · Construction & Contracting

## What else do people ask about Panama Petrochem? ### What is Panama Petrochem's share price today? Panama Petrochem Ltd's share price is ₹465.85, +73.9% over the past year. The whole company is worth ₹2,816 Cr on the market. In the last 52 weeks it traded between ₹251 to ₹505; today it is 85% of the way up from the low, 14.5% above its 200-day average (as of 3 November 2026). ### What were Panama Petrochem's latest quarterly results? Panama Petrochem Ltd reported revenue of ₹1,735 Cr and net profit of ₹309 Cr for the Jun 2026 quarter. Revenue rose 150.4% and profit rose 618.6% compared with a year earlier. Earnings per share were ₹51.06. The operating margin was 22.0%, 14.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Panama Petrochem's market cap? Panama Petrochem Ltd's market capitalisation is ₹2,816 Cr at a share price of ₹465.85. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Panama Petrochem performing? Panama Petrochem Ltd's share price has been rising for 21 weeks. In its latest quarter, revenue rose 150.4% and profit rose 618.6% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 1 week running (as of 3 November 2026). ### Will Panama Petrochem's share price go up? This page does not forecast Panama Petrochem Ltd's share price. What it shows instead: the share price is ₹465.85, and it has been rising for 21 weeks. Its P/E of 5.9× is higher than 2% of its own last 11 years (as of 3 November 2026). ### Where is Panama Petrochem in its business cycle? Panama Petrochem Ltd's FY26 operating margin was 9.0%, against a 13-year range of 4.0% to 14.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 22.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Panama Petrochem story? The main question: profits are rising, but only 11% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Panama Petrochem a stock worth studying right now? What the numbers show: Panama Petrochem Ltd's results are improving, while its P/E is near the low end of its own history over 11 years, higher than only 2% of past readings. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Panama Petrochem share price forecast for 2026? What is changing at Panama Petrochem, from the latest results and calls: specialty-product mix, capacity conversion and input-cost repricing. What would change the story: A subsequent reporting period that repeats elevated operating profitability while releasing working capital, without additional borrowing, and attributes the result to identifiable recurring customers and specialty-product sales would overturn the peak-earnings warning. This is research, not advice. We’re not SEBI-registered.