Pan India Corporation Limited

Financial Services — Capital Markets · BSE

₹1.45₹0.00 (0.00%)

DalalBaazaar Score

46 / 100

🟡 Moderate

Verdict

CAUTION

Risk

High

Driven by negative free cash flow, the company is currently loss-making, micro-cap size, which brings thin liquidity.

In simple words: The company is currently losing money, but sales are shrinking. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:00 pm

Understanding the Business

Company site ↗

The 60-second version of Pan India Corporation Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Pan India Corporation Limited invests in, buys, sells, transfers, hypothecates, deals in, and disposes shares, stocks, debentures, debenture stocks, securities of government and local authority, bonds, certificates, and immovable or movable properties in India.

IndustryCapital Markets

SectorFinancial Services

Employees4

Annual revenue₹0 Cr

How does it make money?

Turns over ₹0 Cr a year. Of every ₹100 of sales, about ₹-3880 reaches shareholders as profit, with ₹-3880 left at the operating level before interest, tax and depreciation. Each of its 4 employees supports ₹34,500 of revenue a year, the signature of a people-led business.

Revenue / employee₹34,500

Who are its competitors?

The closest listed comparisons in its industry are BAJAJ FINANCE LIMITED, HDFC LIFE INS CO LTD, SBI LIFE INSURANCE CO LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Not assessable from these ratios

For a lender, returns on capital are shaped by leverage and funding cost rather than by pricing power, so the usual financial signature of an advantage does not apply. Judge this one on deposit franchise, cost of funds and asset quality — none of which are in this data.

Peer median ROE13.7%

DalalBaazaar Score

46/ 100

Moderate

Weighted across six categories. Every point is explained below.

✗ Return on equity is negative

Quality vs. Valuation

Company Quality

49/ 100

Average

How good the business is, ignoring the share price entirely.

Valuation

29/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

—

PEG

—

Red Flags

2 items require attention · 2 high

🔴The company is lossmakingFinancial
Net profit of -₹1 Cr in the latest reported year.
🔴Significant margin compressionFinancial
EBITDA margin has fallen 4036.9 points, from 156.5% to -3880.4%.

Investment Thesis

🟢 Bull CaseWhat could make this work?

No clear supporting case emerges from the available numbers.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 156.5% to -3880.4%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
2 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1EBITDA margin holds above -3882%✓ -3880.4%
Two points below today's level — enough room for noise, tight enough to catch real compression.
2Return on equity stays above 8%✗ -6.4%
For a lender this is the cleanest single read on whether the book is being grown profitably.

Investment Checklist

4 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✓ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

1 good · 4 neutral · 6 weak

Market Cap

₹31 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

3.74x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹-0.02

Loss-making

Negative earnings per share — the business is losing money

ROE

-6.4%

Weak

Weak capital efficiency

ROCE

-3.6%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

-67.1%

Shrinking

Sales are contracting

Profit Growth (YoY)

86.4%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹0 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

6775.0%

Good

Healthy core-business profitability

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

2.15

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.05

Defensive

Steadier than the market

52W Range Position

18%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

1.4 / 1.5

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

73.2

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	-₹1 Cr	-₹1 Cr	₹0 Cr	₹0 Cr	—
EBITDA	-₹1 Cr	-₹0 Cr	-₹4 Cr	-₹1 Cr	—
EBITDA Margin	156.5%	15.6%	-9383.6%	-3880.4%	—
PAT (Net Profit)	-₹1 Cr	-₹0 Cr	-₹4 Cr	-₹1 Cr	—
EPS	₹-0.04	—	₹-0.18	₹-0.02	—
ROE	-6.9%	-0.6%	-44.4%	-6.4%	—
ROCE	-5.6%	-0.5%	-25.9%	-3.6%	—
Free Cash Flow	-₹0 Cr	-₹0 Cr	-₹0 Cr	-₹0 Cr	—

🟢 Revenue has turned positive, from -₹1 Cr to ₹0 Cr.

🔴 EBITDA Margin has fallen from 156.5% to -3880.4% over 3 years (-4036.9 pts).

🟡 ROE has held roughly flat at -6.4% over 3 years.

🟢 ROCE has risen from -5.6% to -3.6% over 3 years (+2.0 pts).

Balance Sheet & Cash Flow — FY2026

Total Assets

₹15 Cr

Total Liabilities

₹6 Cr

Total Debt

—

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹0 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

45.5%

Peer Comparison

Company	P/E	ROE
BAJAJ FINANCE LIMITED	30.2x	17.8%
HDFC LIFE INS CO LTD	58.4x	11.3%
SBI LIFE INSURANCE CO LTD	63.9x	13.7%

Recent News

1 positive5 general

Compare SRG INFOTECH with

Equitymaster, 14 Oct

Pan India Corporation Ltd. Shareholding Pattern – Promoters, FIIs & DIIs

Value Research, 31 Aug

Pan India Corporation shareholders pass all three AGM resolutions

scanx.trade, 27 Sept

Pan India Corporation (PANINDIAC) Share: A Dormant Holding Vehicle Explained

Kalkine India, 10 Sept

RailTel Corporation bags second order this week worth ₹165 crore; shares jump 4%

Upstox, 20 AugOrder win

🟢Potentially positiveAn order or contract win, which adds to future revenue. How much depends on its size against annual sales and on when it is executed.

Pan India Corporation narrows net loss to ₹53.55 lakh in FY26

scanx.trade, 28 May

Watch Items

Revenue growth is negative (-67.1%) on the latest reported period — check if this is one-off or a trend.
This is a financial-sector business: borrowing is its raw material, not leverage in the usual sense. Debt/Equity and ROCE here aren't comparable to a manufacturer's — read them alongside NIM, GNPA and capital adequacy from the company's own disclosures.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

StrongFinancial Health

MiddlingGrowth

WeakBusiness Quality · Profitability · Valuation · Risk

Points for each in the Score ↑

Unremarkable in both directions

A reasonable business at a reasonable price. Nothing here is alarming and nothing is compelling, which usually means the decision rests on things this data cannot see — the industry's direction, management's intent, and what else is available to you. 2 high-severity red flags sit above this conclusion and should be read first.

1 of 2 tripwires tripped — Return on equity stays above 8% · see Key things to watch ↑