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
6.07
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 0.85 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 6d agoAI opinion · based on fundamentals
Risk high
Punjab National Bank, India's second-largest public sector bank by market cap of ₹1,35,640 Cr, trades at a PE of 6.1x and 0.92x book value. The bank has delivered 48% profit CAGR over 5 years but carries contingent liabilities of ₹5,24,629 Cr and has posted only 10% sales CAGR over the same period.
Bull Case 8
- Trading at 0.92x price-to-book value, below the 1x threshold typically considered fair value for banks, indicating potential undervaluation
- Compounded profit growth of 48% CAGR over 5 years reflects a sharp earnings recovery from prior NPA cycle lows
- PE ratio of 6.1x is significantly below the banking sector average, offering an earnings yield of over 16%
- TTM profit growth of 33% indicates continued earnings momentum in the most recent period
- Dividend yield of 2.55% with a consistent payout ratio of 18.3% provides income support to shareholders
- ROE has improved from 4% on a 10-year average to 13% in the last year, showing a clear upward trajectory in return ratios
- 3-year stock CAGR of 24% and 5-year CAGR of 27% demonstrate sustained re-rating by the market over medium term
- Market cap of ₹1,35,640 Cr provides high liquidity and institutional participation as a large-cap PSU bank
Bear Case 8
- Contingent liabilities of ₹5,24,629 Cr represent a massive potential obligation, nearly 4x the bank's current market cap
- Sales growth of only 9.8% over 5 years indicates weak core business expansion relative to private sector peers
- 10-year stock CAGR of -1% shows the bank destroyed shareholder value over a full market cycle, reflecting legacy NPA damage
- 3-year ROE of only 12% remains below the 15%+ levels expected from well-run banks, indicating suboptimal capital efficiency
- Promoter (Government of India) holding has decreased by 3.07% over last 3 years, signaling potential further dilution
- Low interest coverage ratio suggests vulnerability to margin compression in a changing rate environment
- Potential capitalization of interest costs raises questions about the true quality of reported earnings
- TTM revenue growth has decelerated sharply to just 3% from the 15% three-year CAGR, flagging a possible growth slowdown
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 6h ago Headwinds 1
- RBI fine for currency chest lapse Aug 21
PNB penalized ₹4.33 lakh by RBI for non-compliance with currency chest operational guidelines. Impact limited to penalty amount.
Positives 1
- Q1FY27 net profit surges 214% Aug 19
PNB reports 214% YoY jump in Q1FY27 net profit to $555 Mn, driven by lower provisions. Gross NPAs at 2.78% with NIM at 2.50%.
Neutral 1
- Investor meets and roadshows scheduled Aug 17
PNB scheduled multiple investor interactions including analyst meet on Aug 20, Singapore/HK roadshow for EMTN program on Aug 20, Motilal Oswal conference on Aug 17, and Emkay Confluence on Aug 14.
TL;DR: PNB delivered a strong Q1FY27 with 214% profit growth and improving asset quality at 2.78% GNPA. The RBI fine is negligible at ₹4.3 lakh. Active investor engagement including international roadshows signals confidence and potential fundraising. The trend is clearly improving with earnings momentum and cleaner books.
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
1
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.
2
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.
3
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.
4
Corporate Action-Board to consider Dividend
5 May - PNB AGM on 20 June 2026; record date 13 June 2026 for final dividend. 5 May - PNB AGM on 20 June 2026; record date 13 June 2026 for final dividend.
5
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
5 May - Audio/video recording of 5 May 2026 earnings call for audited FY2026 results available online. 5 May - Audio/video recording of 5 May 2026 earnings call for audited FY2026 results available online.
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 ₹135271.94 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 6.07. 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 2.59%. 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