---
title: "Pansari Developers Ltd (PANSARI) — Share Price, Financials & Analysis"
symbol: "PANSARI"
company: "Pansari Developers Ltd"
canonical: "https://tapetide.com/stocks/PANSARI"
isin: "INE697V01011"
nse_symbol: "PANSARI"
sector: "Realty"
industry: "Residential Commercial Projects"
market_cap_cr: 480.31
generated_at: "2026-09-13T20:07:50.556Z"
---

# Pansari Developers Ltd (PANSARI)

Canonical page: https://tapetide.com/stocks/PANSARI

## Company

- **NSE Symbol:** PANSARI
- **ISIN:** INE697V01011
- **Sector:** Realty
- **Industry:** Residential Commercial Projects
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2021-10-18
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** pansaridevelopers.com

## About

Incorporated in 1996, Pansari Developers Ltd is in the business of construction and real estate development of residential and commercial projects[1]

## Latest Price

- **Price:** ₹281.5
- **Change:** -11.5 (-3.92%)
- **Open:** ₹275.3
- **Day High:** ₹292.5
- **Day Low:** ₹275.3
- **Previous Close:** ₹293
- **Volume:** 1995
- **As Of:** 2026-09-11T09:53:45+00:00

## Key Fundamentals

Observed at 2026-09-11T04:41:22.926095Z.

- **Market Cap:** ₹480.31 Cr
- **Classification:** Microcap
- **P/E (reported):** 25.9
- **P/E (TTM):** 24.89
- **EPS (TTM):** ₹11.31
- **Book Value:** ₹63.92
- **Price to Book:** 4.58
- **Dividend Yield:** 0%
- **ROE:** 5.59%
- **ROCE:** 9.71%
- **Debt to Equity:** 0.65
- **Revenue (yearly):** ₹96.1 Cr
- **Net Income:** ₹20.07 Cr
- **EBITDA:** ₹14.82 Cr
- **52-Week High:** ₹388.9
- **52-Week Low:** ₹233.3
- **RSI (14):** 38.98

## Tapetide Score

- **Score:** 46 / 100
- **Score date:** 2026-09-04
- **Archetype:** Weak and Under Pressure
- **What it means:** Weak financials are the defining feature, and neither the valuation nor the trend reading is strong enough to offset them. Worth reading the risk flags and recent filings closely before anything else.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Falling
- **Percentile:** 31.9 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 43.55 | 9% |
| growth | 98.9 | 9% |
| momentum | 46.13 | 12% |
| ownership | 50 | 24% |
| quality | 31.58 | 22% |
| valuation | 31.48 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 39.5% CAGR over last 5 years
- Debtor days have improved from 58.4 to 17.4 days.

### Weaknesses

- Stock is trading at 3.19 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 8.14% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.19.5 Cr.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -246.42% | 24.25% | -180.52% |
| ebitda margin growth | -51.91% | -66.71% | -36.01% | -2.55% |
| net income growth | -51.81% | 167.6% | 118% | 40% |
| revenue growth | -36.67% | 114.51% | 62% | 22% |
| roce | -54.12% | 29.47% | 274.9% | 6.1% |
| roe | -51.76% | 36.01% | 3.79% | 64.9% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 8.04 | 6.01 | 30.22 | 12.22 | 7.63 | 21.3 | 18.68 | 17.74 | 27.57 | 37.21 | 13.58 | 14.65 |
| Expenses | 6.04 | 4.71 | 26.94 | 11.48 | 5.29 | 15.45 | 11.93 | 12.1 | 23.53 | 31.75 | 13.91 | 10.85 |
| Operating Profit | 2 | 1.3 | 3.28 | 0.74 | 2.34 | 5.85 | 6.75 | 5.64 | 4.04 | 5.46 | -0.33 | 3.8 |
| OPM % | 24.88 | 21.63 | 10.85 | 6.06 | 30.67 | 27.46 | 36.13 | 31.79 | 14.65 | 14.67 | -2.43 | 25.94 |
| Other Income | 0.6 | 1.33 | 1.09 | 2.17 | 0.84 | 2.58 | 2.29 | 1.17 | 2.1 | 1.51 | 13.41 | 2.49 |
| Interest | 1.11 | 1.22 | 1.26 | 0.8 | 1 | 2.79 | 1.47 | 0.85 | 0.59 | 0.68 | 2.39 | 0.53 |
| Depreciation | 0.44 | 0.45 | 0.45 | 0.59 | 0.99 | 2.97 | 0.21 | 0.71 | 0.59 | 0.56 | 0.57 | 0.55 |
| Profit before tax | 1.05 | 0.96 | 2.66 | 1.52 | 1.19 | 2.67 | 7.36 | 5.25 | 4.96 | 5.73 | 10.12 | 5.21 |
| Tax % | 20.95 | 14.58 | 22.56 | 1.97 | 21.01 | 21.35 | 26.9 | 20.95 | 34.48 | 26 | 18.38 | 23.61 |
| Net Profit | 0.83 | 0.82 | 2.07 | 1.49 | 0.94 | 2.11 | 5.39 | 4.14 | 3.26 | 4.24 | 8.25 | 3.98 |
| EPS in Rs | 0.48 | 0.47 | 1.19 | 0.85 | 0.54 | 1.21 | 3.09 | 2.37 | 1.87 | 2.43 | 4.73 | 2.28 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 6 | 10 | 35 | 36 | 60 | 23 | 56 | 40 | 96 | 93 |
| Expenses | 3 | 8 | 28 | 27 | 53 | 18 | 49 | 27 | 81 | 80 |
| Operating Profit | 3 | 2 | 7 | 9 | 8 | 5 | 7 | 13 | 15 | 13 |
| OPM % | 55 | 18 | 21 | 25 | 13 | 20 | 13 | 32 | 15 | 14 |
| Other Income | 3 | 4 | 1 | 1 | 0 | 1 | 5 | 5 | 18 | 20 |
| Interest | 2 | 2 | 3 | 4 | 1 | 1 | 4 | 4 | 5 | 4 |
| Depreciation | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 2 | 2 |
| Profit before tax | 4 | 2 | 4 | 5 | 5 | 3 | 6 | 10 | 26 | 26 |
| Tax % | 22 | 21 | 27 | 24 | 25 | 26 | 16 | 25 | 24 | — |
| Net Profit | 3 | 2 | 3 | 4 | 4 | 2 | 5 | 8 | 20 | 20 |
| EPS in Rs | 1.85 | 1.12 | 1.58 | 2.16 | 2.09 | 1.15 | 2.99 | 4.3 | 11.4 | 11.31 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| Reserves | 35 | 38 | 40 | 42 | 93 | 102 | 104 | 109 | 117 | 137 |
| Borrowings | 59 | 64 | 70 | 74 | 62 | 54 | 81 | 86 | 101 | 100 |
| Other Liabilities | 74 | 82 | 96 | 74 | 73 | 47 | 84 | 114 | 175 | 230 |
| Total Liabilities | 185 | 201 | 223 | 208 | 246 | 220 | 287 | 327 | 411 | 484 |
| Fixed Assets | 12 | 23 | 25 | 32 | 77 | 75 | 74 | 93 | 92 | 86 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 1 | 3 | 9 | 9 | 9 | 9 | 13 |
| Other Assets | 173 | 178 | 198 | 175 | 166 | 137 | 203 | 225 | 310 | 385 |
| Total Assets | 185 | 201 | 223 | 208 | 246 | 220 | 287 | 327 | 411 | 484 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -29 | 9 | 4 | 5 | 20 | 10 | -22 | 11 | -16 | -9 |
| Cash from Investing Activity | -22 | -11 | -4 | -5 | -4 | 0 | -5 | -10 | 5 | 15 |
| Cash from Financing Activity | 51 | 2 | -1 | 0 | -15 | -11 | 27 | 0 | 11 | -5 |
| Net Cash Flow | -1 | 0 | 0 | 0 | 1 | -1 | 0 | 2 | 0 | 1 |
| Free Cash Flow | -29 | -5 | 4 | -6 | 19 | 10 | -23 | 0 | -18 | -13 |
| CFO/OP | -1686 | 286 | 283 | 79 | 228 | 144 | -438 | 167 | -110 | -21 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 963 | 242 | 248 | 39 | 59 | 14 | 59 | 93 | 65 | 17 |
| Inventory Days | — | — | — | — | 1917 | 764 | — | — | — | — |
| Days Payable | — | — | — | — | 24 | 10 | — | — | — | — |
| Cash Conversion Cycle | 963 | 242 | 248 | 39 | 1952 | 768 | 59 | 93 | 65 | 17 |
| Working Capital Days | 5096 | 2451 | 2086 | 553 | 502 | 240 | 584 | 133 | 299 | 178 |
| ROCE % | 3 | 5 | 4 | 5 | 6 | 4 | 2 | 5 | 6 | 12 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 73.88% | 73.88% | 73.88% | 73.88% | 73.88% | 73.88% | 73.88% | 73.88% | 73.88% | 73.88% | 73.88% | 73.88% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 1.67% | 4.22% | 4.23% | 4.22% | 4.08% | 4.01% | 4.11% | 4.48% | 4.38% | 4.27% | 4.28% | 4.36% |
| Others | 24.45% | 21.9% | 21.89% | 21.9% | 22.04% | 22.12% | 22.01% | 21.64% | 21.74% | 21.85% | 21.84% | 21.76% |
| No. of Shareholders | 955 | 1179 | 1387 | 1438 | 1177 | 1146 | 1287 | 1169 | 1143 | 1169 | 1082 | 1120 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 5 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 294.98 | Sell |
| EMA (10) | 294.95 | Sell |
| SMA (20) | 306.7 | Sell |
| EMA (20) | 303.73 | Sell |
| SMA (50) | 328.29 | Sell |
| EMA (50) | 312.46 | Sell |
| SMA (100) | 308.88 | Sell |
| EMA (100) | 309.26 | Sell |
| SMA (200) | 302.16 | Sell |
| EMA (200) | 295.68 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 33.85 | Neutral |
| MACD (12,26,9) | -10.24 | Sell |
| Stochastic (14,3,3) | 13.24 | Buy |
| ADX (14) | 23.62 | Neutral |
| Williams %R (14) | -88.67 | Buy |
| ATR (14) | 17.35 | High Volatility |
| ROC (12) | -13.12 | Sell |
| Stoch RSI (14) | 21.71 | Neutral |
| UO (7,14,28) | 36.25 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Updates](https://nsearchives.nseindia.com/corporate/PANSARI_09092026133851_Dispatch_of_Notice_to_NSE.pdf) |
| 2026-09-09 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/PANSARI_09092026133435_News_Paper_Advertisment_Dispatch.pdf) |
| 2026-09-08 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/PANSARI_08092026180853_Notice_PDF__AGM.pdf) |
| 2026-09-07 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/PANSARI_07092026161239_NSE_Letter_for_Pre_AGM.pdf) |
| 2026-08-24 | [General Updates](https://nsearchives.nseindia.com/corporate/PANSARI_24082026171853_outcomeboardmeeting.pdf) |
| 2026-08-14 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/PANSARI_14082026132124_advertisement.pdf) |
| 2026-07-14 | [Reply to Clarification- Financial results](https://nsearchives.nseindia.com/corporate/PANSARI_25062026152826_clarification_declaration.pdf) |
| 2026-07-10 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/PANSARI_10072026150100_Covering_Letter_-_74_5_.pdf) |
| 2026-06-25 | [Trading Window](https://nsearchives.nseindia.com/corporate/PANSARI_25062026162502_Trading_Window_Closure_Letter.pdf) |
| 2026-06-19 | [Disclosure under SEBI Takeover Regulations](https://nsearchives.nseindia.com/corporate/team_sandeshc_17062026123843_27.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-13 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/PANSARI_13082026161507_Outcome.pdf) |
| 2026-05-29 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/PANSARI_29052026193229_OutcomeResult310326.pdf) |
| 2026-02-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/PANSARI_14022026170937_Outcome_of_the_Board_Meeting.pdf) |
| 2025-11-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/PANSARI_14112025201120_Outcome_of_Board_Meeting.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 24 Jun - Exchange has sought clarification from Pansari Developers Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On … | [Clarification - Financial Results 24 Jun - Exchange has sought clarification from Pansari Developers Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …](https://www.nseindia.com/get-quotes/equity?symbol=PANSARI) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_31899_PANSARI_2025_2026_A_160561004_08092026181251.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/AR_28051_PANSARI_2024_2025_A_19773244_01092025165902.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/AR_25585_PANSARI_2023_2024_0309202418224.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/AR_23480_PANSARI_2022_2023_05092023134645_09052023140000.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/AR_21333_PANSARI_2021_2022_05092022150202_09052022160011.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T20:07:50.556Z.