Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹19Cr
Rev Gr TTM
Revenue Growth TTM
1.37%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

PANABYTE
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | -58.8 | -69.7 | -85.2 | 3.2 | 67.5 | 21.5 | 219.4 | 274.0 | 22.4 | 93.8 | 34.1 | -50.7 |
| 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 2 | 2 | 2 | 2 |
Operating Profit Operating ProfitCr |
| 1.3 | -25.3 | -19.4 | -8.3 | 31.3 | 6.3 | 6.1 | 5.0 | 3.7 | -5.9 | 17.1 | 11.9 |
Other Income Other IncomeCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
Growth YoY PAT Growth YoY% | -900.0 | | -560.0 | 50.0 | 130.0 | 109.5 | 121.7 | 150.0 | -133.3 | -750.0 | 620.0 | -60.0 |
| -37.5 | -26.6 | -34.3 | -10.4 | 6.7 | 2.1 | 2.3 | 1.4 | -1.8 | -7.0 | 12.5 | 1.1 |
| -0.7 | -0.5 | -0.5 | -0.2 | 0.2 | 0.0 | 0.1 | 0.1 | -0.1 | -0.3 | 0.7 | 0.0 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| 111.0 | -36.6 | 650.5 | 217.2 | -76.1 | 81.7 | -35.0 | -14.6 | 5.6 | -57.6 | 121.8 | -2.3 |
| 2 | 1 | 11 | 35 | 8 | 15 | 10 | 8 | 9 | 4 | 8 | 7 |
Operating Profit Operating ProfitCr |
| -4.6 | 4.0 | 1.4 | 0.6 | -1.3 | -1.1 | -1.8 | 0.2 | 0.3 | 0.0 | 5.0 | 8.0 |
Other Income Other IncomeCr | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
| -10.4 | 1,041.7 | -56.8 | 6.0 | -56.8 | -68.5 | -357.1 | 110.4 | -4,319.8 | -2.2 | 120.0 | 140.4 |
| 2.4 | 43.4 | 2.5 | 0.8 | 1.5 | 0.3 | -1.0 | 0.1 | -5.0 | -12.2 | 1.1 | 2.7 |
| 0.1 | 1.4 | 0.6 | 0.7 | 0.3 | 0.1 | -0.2 | 0.0 | -1.0 | -1.0 | 0.2 | 0.4 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 6 |
| 0 | 1 | -1 | -1 | -1 | -1 | -1 | -1 | -1 | -2 | -1 | 0 |
Current Liabilities Current LiabilitiesCr | 1 | 0 | 12 | 13 | 4 | 10 | 8 | 8 | 10 | 9 | 11 | 10 |
Non Current Liabilities Non Current LiabilitiesCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 1 | 2 | 14 | 13 | 7 | 13 | 12 | 11 | 12 | 11 | 15 | 15 |
Non Current Assets Non Current AssetsCr | 4 | 3 | 1 | 3 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 1 | -1 | 0 | 1 | -1 | -1 | 0 | 0 | 0 | 1 | -1 |
Investing Cash Flow Investing Cash FlowCr | -1 | 1 | 0 | -1 | 1 | -1 | 0 | 1 | 0 | 0 | -1 |
Financing Cash Flow Financing Cash FlowCr | 0 | 0 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 2 |
|
Free Cash Flow Free Cash FlowCr | 1 | -1 | 0 | 1 | -1 | -1 | 0 | -1 | 0 | 1 | -2 |
| 1,535.7 | -215.7 | -39.6 | 277.3 | -734.1 | -2,691.0 | 352.0 | -3,950.0 | 45.9 | -167.6 | -1,518.4 |
CFO To EBITDA CFO To EBITDA% | -800.0 | -2,345.5 | -71.0 | 359.9 | 874.8 | 624.8 | 208.2 | -2,810.1 | -865.8 | | -330.9 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 0 | 11 | 17 | 14 | 0 | 7 | 0 | 7 | 11 | 19 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 39.2 | 57.6 | 110.3 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 201.1 |
Price To Sales Price To Sales | 0.0 | 0.0 | 1.0 | 0.5 | 1.7 | 0.0 | 0.7 | 0.0 | 0.8 | 2.9 | 2.2 |
Price To Book Price To Book | 0.0 | 0.0 | 3.1 | 4.7 | 4.0 | 0.0 | 1.9 | 0.0 | 2.4 | 4.4 | 4.7 |
| 2.3 | -1.4 | 70.2 | 74.2 | -132.7 | -11.2 | -51.6 | 180.7 | 441.6 | | 52.1 |
Profitability Ratios Profitability Ratios |
| 9.3 | 24.2 | 9.1 | 4.3 | 6.4 | 15.2 | 21.1 | 35.6 | 37.1 | 63.7 | 40.2 |
| -4.6 | 4.0 | 1.4 | 0.6 | -1.3 | -1.1 | -1.8 | 0.2 | 0.3 | 0.0 | 5.0 |
| 2.4 | 43.4 | 2.5 | 0.8 | 1.5 | 0.3 | -1.0 | 0.1 | -5.0 | -12.2 | 1.1 |
| 1.6 | 12.3 | 9.7 | 10.3 | 4.7 | 1.4 | 1.4 | 4.3 | -3.2 | -3.0 | 7.2 |
| 1.2 | 12.2 | 7.8 | 8.2 | 3.5 | 1.2 | -3.1 | 0.3 | -15.2 | -18.4 | 2.3 |
| 1.1 | 11.5 | 1.8 | 1.7 | 1.7 | 0.3 | -0.9 | 0.1 | -3.5 | -4.0 | 0.6 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
**Panabyte Technologies Limited (formerly Panache Innovations Ltd.)** is a publicly listed company on the **Bombay Stock Exchange (BSE)** with over **30 years of operational history**. The company is **ISO 9001:2015 certified**, underscoring its commitment to quality management and process excellence. Panabyte has evolved into a diversified technology enterprise operating across **electronics distribution**, **IT services**, and **smart security solutions**, with a strong emphasis on innovation, digital transformation, and customer-centric delivery.
The company rebranded from **Panache Innovations Limited** to **Panabyte Technologies Limited** in recent years, signaling a strategic shift toward technology-led solutions and digital infrastructure.
---
### **Business Segments & Core Offerings**
Panabyte operates through two primary verticals:
#### 1. **WALKER Brand – Consumer Electronics Distribution**
- Walker is a youth-focused, tech-driven brand launched in 2020 by Panabyte Technologies.
- **Product Focus**: Ergonomic and portable IT accessories, laptops, mobility solutions, wireless audio, small home appliances, and personal care devices.
- All Walker products are **"Made in India"** under a **"Local for Global"** manufacturing strategy, enabling control over quality, cost, supply chain efficiency, and time-to-market.
- Key differentiators include **modular design**, **IoT integration**, **sustainable materials**, and **smart accessory innovation**.
- Plans underway to expand into **bundled B2B offerings** with co-working spaces and educational institutions.
#### 2. **Technology Solutions & Smart Security Systems**
Panabyte is a leading provider of integrated technology and security infrastructure, offering:
- **End-to-end surveillance systems** (analog, IP, wireless) with video analytics
- **AI-powered access control**, anti-tailgating, and intrusion detection systems
- **Fire alarm and suppression systems** (conventional, addressable, FM200, INERGEN)
- **Building and smart city solutions** – including parking management, public Wi-Fi, and centralized command centers
- **GPS-based tracking systems** for vehicles, assets, and personnel
- **Gate automation** using boom barriers, turnstiles, DFMD, and X-ray scanners
- **OEM and project-based services** with annual maintenance contracts (AMCs)
---
### **Key Products & Technological Advancements**
#### **AI-Powered Security Solutions**
- **AI-Based Video Analytics Platform**:
- Achieves **>99% detection accuracy** and **>95% recognition accuracy** using deep learning.
- Operates efficiently on **low-compute, edge-based hardware**, reducing reliance on cloud infrastructure.
- Camera-agnostic, enabling compatibility across multiple vendors.
- Features **"visual digital footprint"** technology for tracking without additional sensors.
#### **AI Anti-Tailgating & Access Control System**
- Detects unauthorized entry through trailing or piggybacking.
- Integrates with CCTV and smart controllers.
- Real-time alerts via SMS, alarms, and evidence capture.
- Deployed in high-security environments: **data centers, airports, banks, defense facilities, R&D labs, and IT campuses**.
#### **Smart PTZ Camera with Integrated Radar**
- Combines **PTZ camera** with **security radar** (phased array, pulse Doppler, low-power FMCW modulation).
- Supports **multi-target tracking of up to 32 objects**.
- AI algorithms filter false alarms from weather (rain, fog).
- Operates in **all lighting and weather conditions**.
- Power options: **12V DC or PoE**, with **IP67 and IK09** ratings for durability.
- Ideal for **airports, prisons, power stations**, and other critical infrastructure.
#### **AI Intrusion Alarm Panel (Proprietary, Upcoming)**
- Planned launch of an in-house developed **AI-based intrusion alarm system** with automated alert generation.
- Positioning as a **differentiated, proprietary offering** in India’s growing smart security market.
---
### **Strategic Growth Initiatives (2024–2025)**
#### **Digital Transformation & Operational Efficiency**
- Investment in **automation**, **AI-led managed IT services**, and **AI-powered CRM systems**.
- Enhanced **cybersecurity infrastructure** to support scalability and client trust.
- Focus on **digitalization of operations**, talent upskilling, and agile project delivery.
#### **Expansion of the WALKER Brand**
- Current Distribution: Primarily via **major Indian e-commerce platforms** (Amazon, Flipkart, etc.).
- Future Strategy:
- Expansion into **offline retail channels** by FY 2025–26.
- Entry into **select international markets** through **D2C and e-commerce platforms**.
- Product line extension into **mobility, audio accessories, home appliances, and personal care tech**.
- Brand Differentiation:
- **D2C marketing campaigns**
- **IoT-integrated designs**
- **Sustainable materials and modular accessories**
- **IP development** in smart accessory design
#### **Leveraging Government & Regional Demand Trends**
- Benefiting from the **Smart Cities Mission**, driving demand for:
- AI-based surveillance
- Centralized command & control systems
- Integrated city management platforms
- Rising investments in **security infrastructure in the Middle East, Africa, and Southeast Asia**.
- Indian surveillance market projected to reach **₹65,000 crore by 2028**.
- Panabyte’s strategy to capture market share via:
- **Video analytics solutions**
- **Cloud-based surveillance hubs**
- **Plug-and-play kits for MSMEs**
---
### **Distribution & Market Presence**
- **Pan-India Distribution Network**: Over **500 channel distributors** serving dealers, SMEs, retail, and institutional clients.
- Channel Segmentation:
- **125 telecom partners**
- **375 FMCG partners**
- Institutional Clients include **Mahindra & Mahindra, DMRL, CMS**, and large format retailers.
- **E-commerce Strength**:
- Special vendor partner with major platforms.
- Strong presence under both **Walker** and **Hyundai** brands.
- Historically, PIL was the **National Distributor for Motorola** (landline phones) and holds a **brand licensing agreement with Hyundai** for electronics.
---
### **Notable Contracts & Milestones**
- **FY 2021–22**: Secured major contracts from:
- **Mahindra & Mahindra** (IT services & AMC)
- **CMS** (pan-India surveillance panel installation)
- **DMRL** (IT services)
- **First to launch Motorola Fixed Wireless Phone FW200L** under the **"Make in India"** initiative.
- **Pioneered Hyundai Inverter LED Batten 20W**, the first of its kind in India.
- Sustained success with **Hyundai-branded speaker bulbs** and **emergency lighting solutions**.