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Swing Capital

Pavna Industries Ltd

NSE: PAVNAIND BSE: 543915

Incorporated in 1994, Pavna Industries is a manufacturer and supplier of Locks, Auto Locks and Auto Parts[1]

₹18.3
52W: ₹13.2 — ₹49.4
PE 46 · Book ₹13.9 · +32% vs book
Market Cap₹255 Cr
Stock P/E46Price to Earnings
ROCE9.95%Return on Capital
ROE5.83%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company has reduced debt.

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 9.21% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -8.94%
  • −Working capital days have increased from 46.8 days to 125 days

Shareholding Pattern

Promoters61.5%
FIIs5.06%
DIIs0%
Public33.43%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters70.45%70.45%70.45%61.5%▼9.061.5%61.5%61.5%61.5%
FIIs0%0.03%▲0.00.13%▲0.16.18%▲6.06.38%▲0.26.06%▼0.35.73%▼0.35.06%▼0.7
DIIs0%0%0%0%0%0%0%0%
Public29.56%29.52%▼0.029.43%▼0.132.32%▲2.932.13%▼0.232.44%▲0.332.79%▲0.433.43%▲0.6

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales68.3971.7273.6476.9579.5275.9965.3358.171.7275.72
Expenses61.6165.9165.8669.169.5669.8659.0253.2265.1370.74
Operating Profit6.785.817.787.859.966.136.314.886.594.98
OPM %9.91%8.1%10.56%10.2%12.53%8.07%9.66%8.4%9.19%6.58%
Net Profit1.920.942.082.263.380.981.44-1.182.070.94
EPS ₹0.160.080.170.190.280.080.1-0.080.150.07

AI Insights

Revenue Trend

TTM revenue at ₹271Cr, down 9.1% YoY. OPM at 8%.

Debt Position

Borrowings at ₹72Cr. Debt-to-equity ratio: 0.40x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 5.06% (+5.06pp change). Promoters hold 61.5%.

Margin & Efficiency

ROCE declining from 18% (Mar 2014) to 10% (Mar 2025). Working capital days: 125.

Valuation

PE 46x with 9.95% ROCE. Price is 32% above book value of ₹13.9. Dividend yield: 0%.

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