Panasonic Energy India Q1: PAT Up 63.5% to ₹40 Million, Revenue at ₹629 Million

On August 12, 2024, Panasonic Energy India Co. Ltd, a part of Panasonic Holdings Corporation, announced its audited standalone results for the quarter ended June 30, 2024.

Panasonic Energy India Co. Ltd reported a revenue of ₹629 million, slightly down from the same period last year, but its profit after tax (PAT) increased by 63.5% to ₹40 million. EBITDA margins grew by 52.5%, showcasing a strong financial position with a market capitalisation of ₹3,894 million.

Speaking on the occasion, Mr Akinori Isomura, Chairman and Managing Director of Panasonic Energy India Co. Ltd. (PECIN), said, “The last 2 years have charted a turnaround story for Panasonic Energy India operations, and we have been reporting a consistent profit growth. The slight dip in revenue this quarter is on account of a large B2B one-time order that we won last year, so if we look at the overall sales growth in the insolation of this order, we will see that we have recorded a 7% growth.”

The PECIN factory in Pithampur, Madhya Pradesh, is a carbon-neutral facility that has received the Certificate of Verification Carbon Unit (VCU) Retirement from Verra and has been certified by the International REC Standard. The factory’s wastewater treatment process results in zero discharge and 50% of the factory’s land has been cultivated in a forest by PECIN.

To further reduce CO2 emissions, the company is expanding its solar energy capacity from 19% to 30%. Currently, about 6% of the materials used in their products are recycled, aligning with the 3R principles (Reduce, Reuse, Recycle). Additionally, the company invests in Corporate Social Responsibility (CSR) initiatives in line with Schedule VII of the CSR bill.

On the manufacturing front, PECIN is committed to improving quality of life and protecting the planet. Most of the company’s products are eco-friendly, containing no Mercury (Hg), Cadmium (Cd), or Lead (Pb). Their products meet the standards set by the RoHS Directives (EU) 2015/863.

Currently, PECIN’s product lineup includes about 87% zinc carbon batteries, 5% alkaline batteries, 5% rechargeable batteries, and 3% lithium coin batteries.

On August 12, 2024, Panasonic Energy India share price opened at ₹514.25, touching the day’s high at ₹564.00, as of 01:26 PM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.