Panchatv Bharat IPO

SME • BSE SME • Fresh capital only

LISTEDSMEBSE SME

Panchatv Bharat

Price band

₹140

Lot size

1000 shares

Min investment

₹1,40,000

Issue size

₹24.58 Cr

About the company

Panchatv Bharat works in denim fabric. It does two things. It gets denim fabric manufactured at facilities belonging to other parties, and it also buys denim from distributors and sells it wholesale across India. The production cycle it describes covers buying yarn, warp dyeing, weaving, finishing and quality inspection, but this work is carried out at third party facilities rather than at a plant of its own. Its fabric is used for men's and women's wear, and it supplies mainly to Delhi, Uttar Pradesh, Gujarat and other states. It had 35 distributors as on 30 June 2024 and more than 80 during FY2023-24, with most of its revenue coming from Delhi. As on 30 June 2025 it had 13 employees, counting the Managing Director, the Whole-Time Director, key managerial personnel and middle level and support staff.

Panchatv Bharat is a denim fabric company that gets its fabric made at third-party facilities and also wholesales denim sourced from distributors. It supplies men's and women's wear fabric mainly to Delhi, Uttar Pradesh and Gujarat, and had 13 employees as on 30 June 2025.

IPO details

Issue price: ₹140
Price band: ₹140
Face value: ₹10
Lot size: 1000
Min investment: ₹1,40,000
Issue size: ₹24.58 Cr
Sale type: Fresh capital only
Listing on: BSE SME
BSE scrip code: 7963
NSE symbol: PANCHATV.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	1,000	₹1,40,000
Retail (Max)	1	1,000	₹1,40,000
HNI (Min)	2	2,000	₹2,80,000

Objects of the issue

1Capital Expenditure for setting up of Corporate office and warehousing facility at Ahmedabad4.50

2Working Capital Requirements11.50

3General Corporate Purposes3.00

Financials

Rs. Crore • restated

METRIC	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	27.16	16.88	12.45
Total Income	48.99	39.31	24.45
Profit After Tax	2.83	2.02	0.34
EBITDA	4.55	3.22	0.82
NET Worth	9.05	3.39	1.10
Reserves and Surplus	4.95
Total Borrowing	7.74	7.66	7.08

Key performance indicators

P/E Ratio

20.32

EPS (₹)

6.89

RoCE

26.81%

RoNW

31.25%

PAT Margin

5.77%

✓ Strengths

• Sales have doubled in two years, from Rs 24.45 crore in FY2023 to Rs 39.31 crore in FY2024 and Rs 48.99 crore in FY2025.

• Profit has grown from Rs 0.34 crore in FY2023 to Rs 2.02 crore in FY2024 and Rs 2.83 crore in FY2025.

• EBITDA improved from Rs 0.82 crore in FY2023 to Rs 4.55 crore in FY2025.

• Return ratios are good on the reported numbers, with RoCE of 26.81% and RoNW of 31.25%.

• Net worth grew from Rs 1.10 crore in FY2023 to Rs 9.05 crore in FY2025.

• Getting fabric made at third party facilities keeps the fixed cost low, since the company does not have to run and maintain a mill of its own.

• It already has a distributor base, with more than 80 distributors during FY2023-24, and sells across several states.

• The whole issue is fresh capital, with Rs 4.50 crore for a corporate office and warehouse at Ahmedabad and Rs 11.50 crore for working capital.

⚠ Risks

• There is a serious inconsistency in the offer document data. The company is stated to have been incorporated in 2024, yet financial figures are shown for FY2023, FY2024 and FY2025, and it reports having had distributors during FY2023-24. This must be checked in the RHP before relying on the three year record.

• The financial data is old for an issue opening in September 2026. The latest year given is FY2025, ending 31 March 2025.

• The company does not own a manufacturing facility. All fabric is made at third party premises, so it does not control capacity, quality or scheduling.

• It is extremely small in people terms, with only 13 employees in total including the directors.

• The profit margin is thin at 5.77%, which is normal for a trading led fabric business.

• The issue is priced at about 20.32 times earnings on an EPS of Rs 6.89, which is high for a business that mostly buys and resells.

• Most of the revenue comes from Delhi, so it depends heavily on one market.

• The category wise reservation for this issue is not available in the data we have, so it must be read from the RHP.

• This is a fixed price issue at Rs 140 per share, so there is no price discovery through bidding, and promoter holding falls from 92.91% to 65.02%.

• This is an SME issue. One lot is 1,000 shares, which is Rs 1.40 lakh at the issue price, and SME shares usually trade in low volume after listing.

Promoters & holding

Sanjay Gupta, Sooraj Gupta and Sanyogita Gupta

Pre-issue promoter holding

92.91%

Post-issue promoter holding

65.02%

Data refreshed 07 Nov 2026, 04:58 pm IST. GMP is unofficial market sentiment, not investment advice.