Punjab & Sind Bank
Punjab & Sind Bank
BanksKey Fundamentals
SmallcapPublic Sector BankBanksPrice-based figures as of 8 Oct 2026, 3:59 pm IST · EPS basis: Standalone · TTM
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 1.02 times its book value
Weaknesses
5- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 11.4% over past five years.
- Company has a low return on equity of 6.74% over last 3 years.
- Contingent liabilities of Rs.9,924 Cr.
- Company might be capitalizing the interest cost
Growth Rate
AI Analysis — Bull vs Bear
As of the 2026-10-01 close, Punjab & Sind Bank traded at Rs 20.96, giving it a market capitalisation of Rs 14,872.35 Cr. That price is a trailing P/E of 10.75 on EPS of Rs 1.95 and a price-to-book of 1.1. Profit grew 25% on a TTM basis against sales growth of 5%. ROE was 9.35%, up from a 3-year average of about 7%. The stock was near its 52-week low of Rs 20.5, about 35% below its 52-week high of Rs 32.46, and has fallen 30% over one year.
- At a price-to-book of 1.1 (the data also cites about 1.02x book), the stock trades close to its book value. That implies a book value per share of roughly Rs 19, against a price of Rs 20.96 as of 2026-10-01.
- Trailing P/E is 10.75 on TTM EPS of Rs 1.95, an earnings yield of about 9.3%. The market is pricing in limited earnings growth.
- Profit grew 25% on a TTM basis while sales grew 5%. Earnings are growing much faster than revenue, which points to better operating leverage or lower credit costs.
- Profit has compounded at 20% a year over 5 years and 15% a year over 10 years. Earnings have been rebuilding over the long term.
- ROE was 9.35% (10% last year), above the 3-year average of about 7% and the 5-year average of 8%. Profitability has been improving.
- Sales grew 14% a year over 3 years, faster than the 11% 5-year and 3% 10-year rates. Balance-sheet growth has picked up recently.
- The dividend yield is 1.83% at Rs 20.96, a cash return while profitability recovers.
- At Rs 20.96 the stock is about 2% above its 52-week low of Rs 20.5, after a 30% fall over one year. Much of the recent negative sentiment may already be in the price.
- ROE is 9.35% now, about 7% over 3 years (6.74% per the cons list) and 0% over 10 years. That is still low for a bank and may not cover its cost of equity.
- ROCE is 5.53%, which points to thin returns on the capital the bank employs.
- The stock has lost value over most periods: -30% over 1 year, a -23% CAGR over 3 years and a -9% CAGR over 10 years. Only the 5-year CAGR is positive, at 4%.
- Profit CAGR over 3 years is 0%. The strong 25% TTM figure follows several flat years, so sustained earnings growth is not yet proven.
- TTM sales growth slowed to 5%, against 14% over 3 years. The 5-year rate of 11.4% is listed as poor, and the 10-year CAGR is only 3%.
- Contingent liabilities are Rs 9,924 Cr, about 67% of the Rs 14,872.35 Cr market cap, which adds off-balance-sheet exposure.
- The data flags a low interest coverage ratio and possible capitalisation of interest cost. These screening metrics fit banks imperfectly, but they underline thin spreads between interest earned and interest paid.
- The price of Rs 20.96 is about 35% below the 52-week high of Rs 32.46, and the stock trades near the low end of its range at Rs 20.5. Price momentum is clearly weak.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Repeated bank union strike disruptions Sep 22
The United Forum of Bank Unions called an all-India strike for Sep 11, 2026, then a second one for Sep 28-30, 2026. PSB warned that branch operations could be affected even with mitigation steps in place.
- CASA ratio slips sharply Sep 29
The CASA ratio fell to 76.19% as of June 30, down from 81.18% a year earlier. A weaker deposit mix could push up funding costs and squeeze margins.
- Deposits lag loan growth Oct 1
In Q2FY27, deposits grew 12.98% YoY to ₹1.53 lakh crore, while gross advances grew 19.37%. The CD ratio rose to 82.19% from 77.79%, which means less liquidity headroom.
- Strong Q2FY27 loan book growth Oct 1
Gross advances rose 19.37% YoY to ₹1.26 lakh crore, and total business grew 15.77% to ₹2.79 lakh crore. That continues the Q1 pace, when advances grew 19.5% to ₹1.19 lakh crore.
- $1 billion MTN programme approved Sep 29
At its Sep 29 meeting, first announced on Sep 24, the board approved a Medium-Term Note programme of up to $1 billion for raising foreign currency funds. The money would diversify funding sources as lending outpaces deposits.
- ED Ravi Mehra tenure extended Sep 23
Executive Director Ravi Mehra's tenure runs until Dec 31, 2026, or until further orders, whichever comes first. This keeps senior management continuity in the near term.
- Muted stock reaction to news Sep 29
Shares closed at ₹21.18 on Sep 29, down 0.61%, despite the fundraising approval and strong business growth figures.
TL;DR: Punjab & Sind Bank is growing its loan book quickly, with gross advances up about 19% YoY in both Q1 and Q2FY27, and its $1 billion MTN programme gives it a new source of funding. The main risks are on the funding side: deposits are growing slower than loans, the CD ratio has risen to 82.19%, and the CASA ratio has dropped about 5 percentage points to 76.19%, all of which could squeeze margins. Repeated union strikes also add some operational disruption. Growth is improving, but the stock's re-rating likely depends on how cheaply the bank can fund that growth, so the Q2 margin and asset-quality numbers will matter most.
Quarterly Results
| Particulars | 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 | 2,316 | 2,406 | 2,491 | 2,481 | 2,652 | 2,739 | 2,931 | 3,159 | 2,911 | 2,999 | 3,042 | 3,030 | 3,213 |
| Expenses | 682 | 648 | 920 | 875 | 831 | 924 | 902 | 1,356 | 1,046 | 967 | 1,037 | 787 | 920 |
| Financing Profit | 56 | 27 | -181 | -186 | 19 | -52 | 36 | -234 | -146 | -17 | -51 | 188 | 119 |
| Fin. Margin % | 2% | 1% | -7% | -8% | 1% | -2% | 1% | -7% | -5% | -1% | -2% | 6% | 4% |
| Other Income | 179 | 268 | 362 | 413 | 194 | 359 | 338 | 677 | 469 | 374 | 507 | 427 | 332 |
| Interest | 1,578 | 1,731 | 1,752 | 1,792 | 1,802 | 1,866 | 1,992 | 2,037 | 2,010 | 2,049 | 2,056 | 2,055 | 2,175 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PBT | 234 | 295 | 181 | 227 | 213 | 307 | 375 | 442 | 323 | 357 | 456 | 615 | 451 |
| Tax % | 35% | 36% | 37% | 39% | 15% | 22% | 25% | 29% | 17% | 18% | 26% | 31% | 27% |
| Net Profit | 153 | 189 | 114 | 139 | 182 | 240 | 282 | 313 | 269 | 295 | 336 | 422 | 332 |
| EPS in Rs | 0.23 | 0.28 | 0.17 | 0.21 | 0.27 | 0.35 | 0.42 | 0.44 | 0.38 | 0.42 | 0.47 | 0.59 | 0.47 |
| Gross NPA % | 6.8% | 6.23% | 5.7% | 5.43% | 4.72% | 4.21% | 3.83% | 3.38% | 3.34% | 2.92% | 2.6% | 2.4% | 2.21% |
| Net NPA % | 1.95% | 1.88% | 1.8% | 1.63% | 1.59% | 1.46% | 1.25% | 0.96% | 0.91% | 0.83% | 0.74% | 0.79% | 0.65% |
Profit & Loss
| Particulars | 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 | 8,589 | 8,744 | 8,173 | 7,949 | 8,559 | 7,930 | 6,974 | 7,096 | 7,993 | 9,694 | 11,481 | 11,982 | 12,284 |
| Expenses | 1,915 | 2,110 | 2,536 | 3,347 | 3,981 | 4,423 | 6,468 | 2,287 | 2,145 | 2,975 | 3,869 | 3,660 | 3,710 |
| Financing Profit | -235 | 66 | -377 | -1,112 | -1,702 | -2,366 | -4,206 | 364 | 828 | -134 | -85 | 152 | 239 |
| Fin. Margin % | -3% | 1% | -5% | -14% | -20% | -30% | -60% | 5% | 10% | -1% | -1% | 1% | 2% |
| Other Income | 429 | 478 | 578 | 581 | 828 | 897 | 904 | 959 | 940 | 1,221 | 1,568 | 1,778 | 1,641 |
| Interest | 6,909 | 6,569 | 6,014 | 5,714 | 6,279 | 5,872 | 4,712 | 4,444 | 5,019 | 6,853 | 7,698 | 8,170 | 8,335 |
| Depreciation | 46 | 46 | 0 | 64 | -15 | 54 | 102 | 137 | 148 | 150 | 145 | 177 | 0 |
| PBT | 147 | 498 | 201 | -595 | -859 | -1,522 | -3,404 | 1,187 | 1,620 | 937 | 1,338 | 1,752 | 1,881 |
| Tax % | 18% | 33% | 0% | 25% | -37% | -35% | -20% | 12% | 19% | 36% | 24% | 25% | — |
| Net Profit | 121 | 336 | 201 | -744 | -543 | -991 | -2,733 | 1,039 | 1,313 | 595 | 1,016 | 1,322 | 1,384 |
| EPS in Rs | 3.03 | 8.39 | 5.02 | -13.17 | -9.62 | -14.13 | -6.74 | 1.53 | 1.94 | 0.88 | 1.43 | 1.86 | 1.95 |
| Div. Payout % | 20% | 20% | 0% | 0% | 0% | 0% | 0% | 20% | 25% | 23% | 5% | 21% | — |
Balance Sheet
| Particulars | 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 | 400 | 400 | 400 | 565 | 565 | 701 | 4,053 | 6,778 | 6,778 | 6,778 | 7,096 | 7,096 |
| Reserves | 5,196 | 5,570 | 5,742 | 5,618 | 5,136 | 4,895 | 4,310 | 7,233 | 8,331 | 8,756 | 6,259 | 7,037 |
| Borrowing | 1,723 | 2,839 | 2,958 | 3,683 | 2,714 | 3,213 | 2,644 | 2,444 | 9,018 | 9,771 | 14,230 | 16,352 |
| Deposits | 88,040 | 91,250 | 85,540 | 1,01,726 | 98,558 | 89,668 | 96,108 | 1,02,137 | 1,09,665 | 1,19,410 | 1,29,774 | 1,45,829 |
| Other Liabilities | 2,394 | 2,522 | 2,002 | 2,167 | 2,009 | 2,027 | 3,367 | 2,476 | 2,662 | 2,943 | 4,457 | 2,957 |
| Total Liabilities | 97,753 | 1,02,581 | 96,643 | 1,13,759 | 1,08,982 | 1,00,504 | 1,10,482 | 1,21,068 | 1,36,455 | 1,47,657 | 1,61,815 | 1,79,270 |
| Fixed Assets | 995 | 1,133 | 1,095 | 1,083 | 1,230 | 1,241 | 1,585 | 1,577 | 1,519 | 1,756 | 1,798 | 1,862 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 24,007 | 27,645 | 27,948 | 32,982 | 26,173 | 24,552 | 32,023 | 42,281 | 44,838 | 49,599 | 46,912 | 49,388 |
| Other Assets | 72,752 | 73,803 | 67,600 | 79,695 | 81,579 | 74,711 | 76,874 | 77,209 | 90,097 | 96,302 | 1,13,105 | 1,28,020 |
| Total Assets | 97,753 | 1,02,581 | 96,643 | 1,13,759 | 1,08,982 | 1,00,504 | 1,10,482 | 1,21,068 | 1,36,455 | 1,47,657 | 1,61,815 | 1,79,270 |
Cash Flow
| Particulars | 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 | -1,982 | 930 | -495 | 1,063 | -97 | 2,210 | -5,848 | -5,999 | 1,428 | 1,746 | -2,294 | -1,893 |
| Investing | -84 | -38 | -33 | -51 | -61 | -63 | -446 | -121 | -88 | -229 | -168 | -241 |
| Financing | -39 | -209 | 216 | 1,531 | -356 | 814 | 5,055 | 4,068 | -1,332 | -431 | 3,898 | -387 |
| Net Cash Flow | -2,105 | 683 | -313 | 2,543 | -514 | 2,960 | -1,239 | -2,051 | 8 | 1,086 | 1,437 | -2,521 |
| Free Cash Flow | -2,066 | 892 | -529 | 1,012 | -158 | 2,147 | -6,294 | -6,119 | 1,340 | 1,518 | -2,461 | -2,134 |
| CFO/OP | -30 | 14 | -9 | 28 | 3 | 73 | -1,111 | -142 | 27 | 31 | -39 | -19 |
Ratios
| Particulars | 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 % | 2% | 6% | 3% | -12% | -9% | -18% | -39% | 9% | 9% | 4% | 7% | 10% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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92 extracted metrics + investor summaries across FY10–FY27.
Documents
Frequently Asked Questions about Punjab & Sind Bank
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Company Information
Punjab & Sind Bank is engaged in the Business of Deposits,Loans & Advances and Remittances & Collections.
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