Punjab National Bank (PNB) — Share Price, Financials & Ratios

Key Fundamentals

LargecapPublic Sector BankBanks

Market Cap

1.2L Cr

Volatility

Moderate

P/E Ratio

6.74

EBITDA

₹18,377 Cr

Return on Equity

8.25%

Debt to Equity

0

Book Value

₹121.47

EPS

₹10.66

52W High

₹135.15

52W Low

₹98.5

Technical Indicators

Key Insights

Strengths

3

Stock is trading at 0.83 times its book value
Company has delivered good profit growth of 48.2% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 18.3%

Weaknesses

6

Company has low interest coverage ratio.
The company has delivered a poor sales growth of 9.80% over past five years.
Company has a low return on equity of 12.4% over last 3 years.
Contingent liabilities of Rs.5,24,629 Cr.
Company might be capitalizing the interest cost
Promoter holding has decreased over last 3 years: -3.07%

Growth Rate

Revenue Growth

6.41% ↗

Net Income Growth

-0.46% ↘

Cash Flow Change

16.13% ↗

ROE

-11.61% ↘

ROCE

-1.87% ↘

EBITDA Margin (Avg.)

0.94% ↘

AI Analysis — Bull vs Bear

anthropic

claude-opus-4.6 2d ago

HOLD

Risk high

PNB trades at an attractive 0.83x book value with a low PE of 6.8x, reflecting strong profit recovery over 5 years (48% CAGR). However, tepid sales growth of 5% TTM, massive contingent liabilities of Rs 5.25 lakh crore, and declining promoter holding warrant caution before fresh entry.

Bull Case 8

Stock trades at 0.83x book value, offering deep value compared to banking sector average of 1.5-2.5x P/B
PE ratio of 6.8x is significantly below PSU bank peer average of 8-10x, indicating undervaluation
Compounded profit CAGR of 48% over 5 years reflects massive earnings recovery from NPA cycle lows
Dividend yield of 2.76% provides income cushion, supported by healthy 18.3% payout ratio
ROE has improved from 4% (10-year average) to 13% last year, showing structural improvement in profitability
3-year stock CAGR of 29% demonstrates strong re-rating momentum as asset quality normalized
Market cap of Rs 1.25 lakh crore with 47% analyst buy ratings (8 out of 17) suggests institutional confidence
Compounded sales growth of 15% over 3 years shows improving loan book expansion

Bear Case 8

Contingent liabilities of Rs 5,24,629 crore are alarmingly high relative to Rs 1.25 lakh crore market cap, posing tail risk
TTM sales growth has decelerated sharply to just 5%, down from 15% 3-year CAGR, signaling momentum loss
TTM profit growth has flatlined to 0%, indicating earnings recovery cycle may have peaked
Promoter (Government) holding declined by 3.07% over 3 years, suggesting potential further dilution ahead
3-year ROE of only 12% remains below private bank peers like ICICI (16-18%) and HDFC Bank (15-17%)
Low interest coverage ratio indicates vulnerability to rising credit costs or NPA slippages
10-year stock CAGR of just 1% highlights chronic long-term wealth destruction for buy-and-hold investors
29% analyst sell/hold ratings (9 out of 17) reflect skepticism about further upside from current levels

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

anthropic

claude-opus-4.6 1d ago

Positives 7

Corporate loans nearly doubled in FY26 Jun 14

Corporate loan sanctions surged from ~₹2.1 lakh crore in FY25 to nearly ₹4 lakh crore in FY26, with only 0.40% NPA on ₹12.46 lakh crore disbursed over 5.75 years.
GNPA drops 100bps to 2.95% Jun 14

Gross NPA improved to 2.95% in March 2026 from 3.95% a year earlier, with Net NPA at just 0.29% and Provision Coverage Ratio at 97.14%.
Cost-to-income ratio falls to 51.79% Jun 14

Cost-to-income improved from 54.59% in FY25 to 51.79% in FY26, reaching 48.42% in Q4 FY26 with operating expenses down 19% YoY.
95% digital transaction penetration Jun 14

Digital transaction penetration reached 95.16% in Q4 FY26 with 22% YoY volume growth to 337 crore transactions; every third loan is now sanctioned digitally crossing ₹1 lakh crore milestone.
MetLife seeks majority JV stake Jun 12

MetLife is pursuing an increase from 49.73% to above 50% in PNB MetLife, signaling confidence in the JV where 57% of new business premiums come through PNB's network.
₹3 dividend declared at AGM Jun 20

PNB approved a final dividend of ₹3 per share at its 25th AGM on June 20, 2026, along with key director appointments.
Inclusive loan schemes launched Jun 8

PNB launched 'Divyang Rin' with 5% simple interest home loans up to ₹50 lakh and a Green Home Loan scheme with 0.10% rate concession and nil processing fees.

Neutral 6

₹3,500 crore IT investment in 2025 Jun 14

PNB allocated ₹3,500 crore for IT and digital investments, deploying AI tools including Project Netra for borrower network analysis and GenAI-powered PIHU chatbot.
Digital transformation with 13,223 hires Jun 12

PNB is deploying AI agents and FCNR products as part of broader PSB hiring of 13,223 employees in FY26, bringing combined workforce above 6.28 lakh.
Government holds 70.08% unencumbered Jun 16

PNB disclosed that promoter Government of India held 70.08% of paid-up share capital without any encumbrance during FY26.
MCLR rates unchanged from June 1 May 30

PNB retained its MCLR rates effective June 1, 2026, with overnight rate steady at 7.95%.
Net Zero target set for 2060 May 27

PNB's BRSR for FY26 reports a net zero target of 2060, Scope 3 emissions of 66.15 million tonnes, and 98.72% customer grievance redressal rate.
Investor conference participation Jun 18

PNB representatives attended JM Financial and Goldman Sachs virtual investor meets in June 2026 for one-on-one and group meetings.

TL;DR: PNB is executing strongly on digital transformation and corporate lending, with GNPA down 100bps to 2.95%, corporate sanctions nearly doubling to ~₹4 lakh crore, and cost-to-income falling below 52%. The AI-driven strategy under MD Ashok Chandra is delivering measurable efficiency gains. No material headwinds emerged in recent news. The trend is clearly improving, with MetLife's majority stake pursuit and private capex revival providing further growth catalysts heading into FY27.

Quarterly Results

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	24,305	25,673	26,858	27,852	28,682	29,145	30,447	31,895	32,523	32,572	32,513	32,889	32,798
Expenses	10,813	10,990	10,259	9,449	9,831	8,473	8,592	7,494	9,142	9,197	8,299	9,298	7,518
Financing Profit	-1,197	-1,381	-221	959	646	2,136	2,065	3,663	1,742	1,547	2,356	1,426	3,061
Fin. Margin %	-5%	-5%	-1%	3%	2%	7%	7%	11%	5%	5%	7%	4%	9%
Other Income	3,827	3,360	2,999	2,676	4,294	3,615	4,664	3,392	4,776	5,427	4,171	5,013	4,080
Interest	14,690	16,064	16,820	17,444	18,206	18,536	19,790	20,738	21,640	21,828	21,858	22,164	22,219
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
PBT	2,630	1,979	2,778	3,634	4,940	5,751	6,729	7,055	6,518	6,973	6,527	6,440	7,141
Tax %	34%	39%	36%	38%	37%	35%	34%	34%	29%	74%	26%	19%	27%
Net Profit	1,876	1,363	1,990	2,441	3,363	3,991	4,739	4,811	5,011	2,167	5,121	5,577	5,602
EPS in Rs	1.69	1.22	1.81	2.21	3.04	3.61	4.1	4.18	4.34	1.84	4.46	4.83	4.87

Show % Change

Figures in ₹ Crores

Profit & Loss

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	48,710	50,804	48,058	48,725	52,147	54,918	81,935	76,242	86,845	1,09,065	1,24,010	1,30,772
Expenses	18,760	27,453	22,533	43,345	39,645	25,867	38,601	36,026	41,502	39,623	32,743	33,031
Financing Profit	-1,394	-10,980	-7,197	-28,151	-22,153	-7,946	-7,470	-6,607	-6,473	908	10,563	9,672
Fin. Margin %	-3%	-22%	-15%	-58%	-42%	-14%	-9%	-9%	-7%	1%	9%	7%
Other Income	6,175	6,100	9,168	8,883	7,367	9,388	12,777	12,329	12,529	14,158	17,560	20,062
Interest	31,343	34,331	32,722	33,530	34,656	36,997	50,805	46,823	51,817	68,534	80,704	88,069
Depreciation	384	413	430	581	584	614	982	896	905	906	958	1,281
PBT	4,397	-5,293	1,540	-19,849	-15,370	827	4,325	4,826	5,151	14,160	27,166	28,453
Tax %	24%	-31%	41%	-37%	-35%	56%	38%	19%	35%	35%	32%	35%
Net Profit	3,525	-3,510	1,239	-12,111	-9,550	485	2,695	3,908	3,359	9,157	18,553	18,467
EPS in Rs	18.33	-18.79	5.58	-43.88	-20.79	0.65	2.45	3.51	3.04	8.27	16.08	16
Div. Payout %	18%	-2%	0%	0%	0%	0%	0%	18%	21%	18%	18%	19%

Show % Change

Figures in ₹ Crores

Balance Sheet

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	371	393	426	552	921	1,348	2,096	2,202	2,202	2,202	2,299	2,299
Reserves	41,669	41,412	42,990	40,965	45,164	62,529	90,439	95,380	1,00,678	1,08,185	1,30,839	1,47,674
Borrowing	36,692	81,674	43,336	65,330	46,828	62,512	52,298	59,372	70,149	72,586	1,05,807	1,07,558
Deposits	5,37,758	5,70,383	6,29,651	6,48,439	6,81,874	7,10,254	11,13,717	11,54,234	12,90,347	13,79,225	15,77,020	17,24,795
Other Liabilities	19,522	18,932	16,909	22,242	15,333	14,814	21,176	28,113	30,273	36,438	41,579	51,005
Total Liabilities	6,36,011	7,12,793	7,33,311	7,77,528	7,90,120	8,51,457	12,79,725	13,39,301	14,93,649	15,98,636	18,57,544	20,33,331
Fixed Assets	3,656	5,308	6,298	6,371	6,246	7,262	11,049	10,696	12,084	12,348	13,083	15,625
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	1,56,762	1,65,126	1,91,527	2,04,419	2,10,578	2,53,782	4,04,369	3,88,586	4,16,914	4,46,421	5,24,840	5,23,515
Other Assets	4,75,594	5,42,358	5,35,486	5,66,738	5,73,295	5,90,413	8,64,307	9,40,019	10,64,651	11,39,867	13,19,620	14,94,191
Total Assets	6,36,011	7,12,793	7,33,311	7,77,528	7,90,120	8,51,457	12,79,725	13,39,301	14,93,649	15,98,636	18,57,544	20,33,331

Show % Change

Figures in ₹ Crores

Cash Flow

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating	4,814	14,167	21,938	-1,742	-33,532	-12,793	30,950	20,032	22,592	-27,939	22,075	25,635
Investing	-872	-1,352	159	392	-629	-338	-787	-1,204	-732	-1,506	-1,578	-609
Financing	7,451	5,975	-9,767	7,460	13,969	13,591	5,415	2,032	1,275	3,518	-1,138	-11,664
Net Cash Flow	11,393	18,790	12,330	6,109	-20,192	460	35,579	20,859	23,135	-25,928	19,359	13,362
Free Cash Flow	4,267	13,561	21,442	-2,394	-33,972	-13,131	30,164	19,496	22,040	-29,083	20,490	24,052
CFO/OP	25	67	92	1	-268	-36	72	54	52	-38	30	26

Show % Change

Figures in ₹ Crores

Ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE %	8%	-9%	3%	-29%	-22%	1%	3%	4%	3%	9%	15%	13%

Show % Change

Shareholding Pattern

	Mar 2021	May 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	76.87%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	70.08%	70.08%	70.08%	70.08%	70.08%	70.08%	70.08%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.82%	5.51%	8.32%	5.70%	5.70%	5.52%	5.67%	5.94%	6.39%
DIIs	9.06%	9.92%	11.25%	11.19%	11.61%	11.60%	11.45%	12.28%	12.98%	13.53%	13.45%	13.80%	13.73%	12.36%	10.77%	11.95%	14.31%	14.67%	15.07%	15.54%	16.08%	16.05%
Government	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	9.50%	9.68%	11.20%	11.79%	12.27%	12.00%	12.67%	11.44%	10.39%	10.17%	10.05%	9.06%	8.76%	8.56%	9.10%	8.47%	8.71%	8.55%	8.33%	7.71%	6.98%	6.60%
Others	4.56%	7.25%	4.40%	3.88%	2.98%	3.25%	2.73%	3.13%	3.48%	3.15%	3.35%	3.99%	4.36%	1.11%	1.47%	1.18%	1.19%	0.99%	1.01%	1.00%	0.92%	0.87%
No. of Shareholders	0	13,81,300	14,25,500	16,18,140	16,90,480	18,77,250	19,50,660	20,40,140	20,10,940	20,67,200	20,30,100	20,83,550	21,63,620	23,53,620	25,29,280	25,40,940	26,40,520	26,53,660	25,74,690	24,55,480	23,09,000	22,22,890

Show % Change

Documents

1

Concall - May 2017 May 2017

PPT

2

Concall - Aug 2017 Aug 2017

PPT

3

Concall - Aug 2018 Aug 2018

PPT

4

Concall - May 2019 May 2019

PPT

5

Concall - Nov 2020 Nov 2020

PPT

Frequently Asked Questions about Punjab National Bank

What does Punjab National Bank do?

Punjab National Bank is India's first Swadeshi Bank. PNB is a Banking and Financial service bank owned by the Government of India with its headquarters is in New Delhi, India. It is the Second largest PSU after SBI.[1]

Where is Punjab National Bank (PNB) listed?

Punjab National Bank is listed on the Indian stock exchanges. It is listed on NSE: PNB and BSE: 532461. You can view its live share price, financials, and ratios on Tapetide.

Which sector does Punjab National Bank belong to?

Punjab National Bank operates in the Financial Services sector within the Banks industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.

What is the market capitalisation of Punjab National Bank?

Punjab National Bank has a market capitalisation of approximately ₹124859.34 Cr. Based on this, it is classified as a Large Cap stock.

What is the PE ratio of Punjab National Bank?

The Price-to-Earnings (PE) ratio of Punjab National Bank is 6.74. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.

What is the 52-week high and low of Punjab National Bank?

Over the past 52 weeks, Punjab National Bank has traded between a low of ₹98.5 and a high of ₹135.15. This range helps investors understand the stock's price volatility and recent trading levels.

Does Punjab National Bank pay dividends?

Yes, Punjab National Bank has a dividend yield of 2.79%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.

What is the Return on Equity (ROE) of Punjab National Bank?

Punjab National Bank has a Return on Equity (ROE) of 8.25%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.

How can I research Punjab National Bank on Tapetide?

On Tapetide, you can view Punjab National Bank's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.