Punjab National Bank
PNB NSE
Punjab National Bank
Banks F&ONSE: PNB BSE: 532461 Public Sector Bank
Key Fundamentals
LargecapPublic Sector BankBanksMarket Cap
1.4L Cr
Volatility
Moderate
P/E Ratio
6.14
EBITDA
₹18,377 Cr
Return on Equity
12.26%
Debt to Equity
0
Book Value
₹127.02
EPS
₹10.66
52W High
₹135.15
52W Low
₹98.5
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Punjab National Bank insights
62 extracted metrics + investor summaries across FY14–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
3- Stock is trading at 0.87 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 agoAI opinion · based on fundamentals
Risk high
Punjab National Bank trades at a market cap of Rs 1,36,755 Cr with a PE of 6.1x and PB of 0.93x, reflecting a valuation below book value. The bank has shown strong profit CAGR of 48% over 5 years but carries significant contingent liabilities of Rs 5,24,629 Cr and tepid revenue growth of ~10% over the same period.
Bull Case 8
- Stock trades at 0.93x price-to-book, below its book value, offering a margin of safety relative to stated net assets
- Compounded profit growth of 48% CAGR over 5 years signals a strong earnings recovery trajectory from prior NPA stress
- PE ratio of 6.1x is significantly lower than private sector banking peers, indicating undemanding valuations
- TTM profit growth of 33% demonstrates continued momentum in earnings improvement
- Dividend yield of 2.52% with a healthy payout ratio of 18.3% provides income to shareholders
- ROE has improved from 4% (10-year average) to 13% in the last year, indicating improving return efficiency
- Stock CAGR of 24% over 3 years and 26% over 5 years reflects re-rating driven by improving fundamentals
- 3-year compounded sales growth of 15% shows acceleration from the 10-year average of 10%
Bear Case 8
- Contingent liabilities stand at Rs 5,24,629 Cr, a substantial overhang that could crystallize into actual losses
- 5-year sales growth of only 9.8% is poor for a large PSU bank, reflecting limited franchise expansion
- 3-year ROE of 12.4% remains below the cost of equity for most banks, indicating suboptimal capital utilization
- Promoter (Government) holding has decreased by 3.07% over last 3 years, suggesting dilution without proportionate value creation
- Low interest coverage ratio signals vulnerability to margin compression in a tightening rate environment
- 10-year stock CAGR of 0% means long-term shareholders have seen no capital appreciation over a decade
- Possible capitalization of interest costs may overstate asset quality and understate true operating expenses
- TTM revenue growth has decelerated sharply to 3% from 15% three-year CAGR, raising questions about near-term topline momentum
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago Positives 1
- Q1 profit surges to Rs 5,253 cr Jul 18
PNB reported standalone net profit of Rs 5,253.29 crore for Q1FY27, a massive jump from Rs 1,675 crore YoY. Net NPAs improved sharply to 0.28%, signaling strong asset quality.
Neutral 2
- Foreign currency debt issuance planned Jul 26
PNB board met on July 29, 2026 to consider raising foreign currency funds through debt issuance, filed under SEBI LODR regulations.
- Investor meets in August Aug 11
PNB scheduled participation at Emkay Confluence 2026 on Aug 14 and Motilal Oswal 22nd Annual Global Investor Conference on Aug 17, both involving one-to-one and group meetings.
TL;DR: PNB is delivering strong earnings with Q1FY27 net profit more than tripling YoY and net NPAs at a remarkably low 0.28%, reflecting excellent asset quality improvement. The bank is actively engaging institutional investors and exploring foreign currency debt raising. No visible headwinds in recent news flow. The trend is clearly improving, and sustained asset quality will be key to maintaining momentum.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 25,673 | 26,858 | 27,852 | 28,682 | 29,145 | 30,447 | 31,895 | 32,523 | 32,572 | 32,513 | 32,889 | 32,798 | 33,589 |
| Expenses | 10,990 | 10,259 | 9,449 | 9,831 | 8,473 | 8,592 | 7,494 | 9,142 | 9,197 | 8,299 | 9,298 | 7,518 | 8,262 |
| Financing Profit | -1,381 | -221 | 959 | 646 | 2,136 | 2,065 | 3,663 | 1,742 | 1,547 | 2,356 | 1,426 | 3,061 | 2,743 |
| Fin. Margin % | -5% | -1% | 3% | 2% | 7% | 7% | 11% | 5% | 5% | 7% | 4% | 9% | 8% |
| Other Income | 3,360 | 2,999 | 2,676 | 4,294 | 3,615 | 4,664 | 3,392 | 4,776 | 5,427 | 4,171 | 5,013 | 4,080 | 4,365 |
| Interest | 16,064 | 16,820 | 17,444 | 18,206 | 18,536 | 19,790 | 20,738 | 21,640 | 21,828 | 21,858 | 22,164 | 22,219 | 22,583 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 1,979 | 2,778 | 3,634 | 4,940 | 5,751 | 6,729 | 7,055 | 6,518 | 6,973 | 6,527 | 6,440 | 7,141 | 7,108 |
| Tax % | 39% | 36% | 38% | 37% | 35% | 34% | 34% | 29% | 74% | 26% | 19% | 27% | 25% |
| Net Profit | 1,363 | 1,990 | 2,441 | 3,363 | 3,991 | 4,739 | 4,811 | 5,011 | 2,167 | 5,121 | 5,577 | 5,602 | 5,835 |
| EPS in Rs | 1.22 | 1.81 | 2.21 | 3.04 | 3.61 | 4.1 | 4.18 | 4.34 | 1.84 | 4.46 | 4.83 | 4.87 | 5.06 |
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 1,31,789 |
| 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 | 33,378 |
| 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 | 9,587 |
| Fin. Margin % | -3% | -22% | -15% | -58% | -42% | -14% | -9% | -9% | -7% | 1% | 9% | 7% | 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 | 17,629 |
| 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 | 88,824 |
| Depreciation | 384 | 413 | 430 | 581 | 584 | 614 | 982 | 896 | 905 | 906 | 958 | 1,281 | 0 |
| PBT | 4,397 | -5,293 | 1,540 | -19,849 | -15,370 | 827 | 4,325 | 4,826 | 5,151 | 14,160 | 27,166 | 28,453 | 27,216 |
| 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 | 22,134 |
| 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 | 19.22 |
| Div. Payout % | 18% | -2% | 0% | 0% | 0% | 0% | 0% | 18% | 21% | 18% | 18% | 19% | — |
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 |
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 |
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% |
Documents
2
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
14 Aug - PNB attended Emkay Confluence 2026 investor meetings on 14 August 2026. 14 Aug - PNB attended Emkay Confluence 2026 investor meetings on 14 August 2026.
3
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
7 May - PNB held a group investor-analyst meeting in Mumbai on 7 May 2026, sharing only public information. 7 May - PNB held a group investor-analyst meeting in Mumbai on 7 May 2026, sharing only public information.
4
Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - PNB reported FY26 net profit of ₹16,904 crore, Q4 profit ₹5,225 crore, on 5 May 2026. 1d - PNB reported FY26 net profit of ₹16,904 crore, Q4 profit ₹5,225 crore, on 5 May 2026.
5
Annual General Meeting Of The Bank And Record Date
5 May - PNB AGM on 20 June 2026; final dividend record date 13 June 2026. 5 May - PNB AGM on 20 June 2026; final dividend record date 13 June 2026.
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 Banks sector within the Public Sector Bank 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 ₹135984.50 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 6.14. 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 2.55%. 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 12.26%. 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.
Company Information
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]
Website pnbindia.in
CEO Mr. Ashok Chandra
Employees 1,02,746
Listed 2002-04-24
Face Value ₹ 2
Issued Size 11,49,29,43,268