Punjab National Bank logo

Punjab National Bank

PNB NSE

Key Fundamentals

LargecapPublic Sector BankBanks
Market 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

Beta

AI-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.

Log in — free

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 anthropic claude-opus-4.6 2d ago
AI 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 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 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
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%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Ratios

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

Shareholding Pattern

As of Jun 2026
Promoters 70.08%
DIIs 16.07%
Public 7.00%
FIIs 5.93%
Others 0.91%
Total 99.99%
  Mar 2021May 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 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%
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%
5.93%
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%
16.07%
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%
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%
7.00%
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%
0.91%
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
22,31,530

Documents

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

Explore More