Remove the faucet and shower head if the damage is on the panel covering the faucet. Unscrew the faucet retaining screw with an Allen wrench, pull the handle off. Unscrew the trim plate with a Phillips screwdriver. Unscrew the nut at the base of the shower head and take the shower head off, then slide the shower head trim piece off the shower pipe.
Cut away the caulking along the base and all seams of the damaged shower panel with a razor. Pry the panel from the wall with the help of a crowbar and a scraper if needed. Or, cut away the drywall around the panel with a reciprocal saw, and pull the entire section of drywall and panel out of the wall. Repeat this process on any panel you wish to replace.
Replace the drywall with moisture resistant drywall. Measure the installation area with a tape measure, cut the drywall to your measurements. Mount it directly to the wall framing with drywall screws and a handheld power screwdriver.
Install the new wall panels by first laying a bead of adhesive on the backside of the panel, pressing it to the wall and pulling it off the wall right away. Then re-set the panel in place and firmly press and hold it up against your wall until the glue bonds with the wall. Repeat this step with all three panels if you are replacing them all.