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10 Yrs X-Ray 
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Analyst Note 
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About
PNB Gilts Ltd (PNBGILTS)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532366 NSE: PNBGILTS Finance - NBFC | Small Cap | PNB Gilts Share Price
₹75.28 -1.09 (-1.43%)
As on 24-Sep'26 16:59
PNB Gilts Ltd (PNBGILTS)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532366 NSE: PNBGILTS Finance - NBFC | Small Cap | PNB Gilts Share Price
₹75.28 -1.09 (-1.43%)
As on 24-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹1,375 Cr.
Current Price
₹75.3
52-Week Low / High
₹59 / 103
TTM EPS
-
Book Value per Share
-
P/E Ratio
Industry PE
26.9
Price to Book (P/B)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Net Interest Income Growth (1 Year)
Improving versus 3-year growth rate
279231.8%
Book Value Growth (1 Year)
Improving versus 3-year growth rate
16.2%
Asset Quality
Gross NPA(%)
0.00%
Net NPA(%)
0.00%
TTM Sales
-
Reserves
-
Equity
₹180 Cr.
Face Value
₹10
All Time Low / High
₹9.07 / 149.25
Check Before You Invest
Quality
Not GoodValuation
Somewhat UndervaluedCheck Valuation charts
Price Trend
Weak
Is PNB Gilts Ltd a good quality company?
PNB Gilts Ltd is a weak quality company, based on a inconsistent multi-year financial track record.
This assessment is based on the bank’s performance on Total Income growth, Pre-Provision Operating Profit, RoA, RoE, CAR, and Asset Quality, along with how these metrics compare with its long-term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Total Income growth, NPM, PPOP, RoA and RoE compared to its last 5-year median.
-
How efficiently has it grown and managed operations?
By checking its Total Asset growth.
-
How strong is its Capital position and Asset Quality?
By checking its Capital Adequacy Ratio (CAR), GNPA and NNPA.
How does PNB Gilts Ltd performance compare with that of its Peers?
AUM Growth of PNB Gilts Ltd vs Industry Peers?
PNB Gilts Ltd AUM CAGR is %, compared to the 0-year industry median CAGR of %, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of PNB Gilts Ltd?
Promoters hold 74.07% of the PNB Gilts Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of PNB Gilts Ltd over the last decade?
Over the last 9 years, the stock has delivered a CAGR of 11.2% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
PNB Gilts Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 366 | 503 | 402 | 521 | 926 | 1,052 | 1,051 | 1,230 | 1,576 | 4,55,257 | 1,747 | |
| YoY Gr. Rt. % | - | 37.3% | -20.1% | 29.6% | 77.6% | 13.6% | -0.1% | 17% | 28.2% | 28780.4% | - | |
| Adj EPS (₹ ) | 1.9 | 9.3 | 0.1 | 2.9 | 10.4 | 25.2 | 9.2 | -4.3 | 3.9 | 13 | 5.7 | |
| YoY Gr. Rt. % | - | 383.9% | -99.1% | 3575% | 252% | 143.8% | -63.5% | -146.6% | NA | 235.5% | - | |
| BVPS (₹ ) | 40.7 | 49.9 | 47.6 | 49.3 | 57.9 | 73.1 | 79.3 | 70 | 73.9 | 85.8 | 99.5 | |
| YoY Gr. Rt. % | - | 22.8% | -4.7% | 3.6% | 17.5% | 26.3% | 8.4% | -11.7% | 5.5% | 16.2% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 0.7 | 3.2 | 0 | 0.7 | 1.6 | 3.4 | 1.2 | -0.4 | 0.3 | 1 | 0 | |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 120.7% | 245.4% | 656.7% | 28780.4% | ||||
| Adj EPS | 23.6% | 4.6% | 12% | 235.5% | ||||
| BVPS | 8.7% | 8.2% | 2.7% | 16.2% | ||||
| Share Price | 11.2% | 3% | -2.6% | -24.9% | ||||
Key Financial Ratios
| RATIOS \ YEARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Quality Ratio | To view Asset Quality Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Capitalization Ratio | To view Capitalization Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Capital Adequacy Ratio (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Margins | ||||||||||||
| Net Profit Margin (%) | 9.4 | 33.2 | 0.4 | 10.1 | 20.1 | 43.2 | 15.8 | -6.3 | 4.4 | 0.1 | 5.9 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 4.8 | 20.5 | 0.2 | 6.1 | 19.3 | 38.5 | 12.1 | -5.8 | 5.4 | 16.2 | 5.7 | |
Valuation of PNB Gilts - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
No data found!
No data found!
No data found!
No data found!
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
PNB Gilts Ltd FAQs
The current trading price of PNB Gilts on 24-Sep-2026 16:59 is ₹75.28.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 23-Sep-2026 the market cap of PNB Gilts stood at ₹1,374.7 Cr
The latest P/E ratio of PNB Gilts as of 23-Sep-2026 is 13.45.
The latest P/B ratio of PNB Gilts as of 23-Sep-2026 is 0.77.
The 52-week high of PNB Gilts is ₹102.8 and the 52-week low is ₹58.75.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of PNB Gilts is ₹1,747 ( Cr.) .
Past 10 year’s financial track record analysis by Moneyworks4me indicates that PNB Gilts Ltd is a below average quality company.
The key valuation ratios of PNB Gilts Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of PNB Gilts Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About PNB Gilts Ltd
In the year 1996 the Reserve Bank of India introduced the system of Primary Dealers with a view to strengthen the institutional infrastructure of government securities market. Six entities were granted licenses of which PNB Gilts was one. The company was established as a wholly owned subsidiary of Punjab National Bank with an initial paid up capital of Rs 50 crore, which is also the minimum capital requirement for a Primary Dealer.
RBI, New Delhi, granted PNB Gilts a certificate of registration vide its letter dated 10th February 1998, to carry on the business of a non-banking finance company. The company decided to expand its capital base & came with an IPO of Rs 3.5 crore shares at an offer price of Rs 30 per share aggregating Rs 105 crore in July 2000. This increased the paid up capital of the company to Rs 135.01 crore and reduced the holding of Punjab National Bank to 74.07%.
In February 2009 Punjab National Bank (PNB) decided to merge its primary dealership subsidiary PNB Gilts with self instead of selling the company,. Punjab National Bank was holding 74.07% stake in PNB Gilts.Punjab National Bank hopes to complete the merger of PNB Gilts with itself by March 2010 and expects net profit to grow 20-23% in the current fiscal.
Products and services offered by the company:
- Treasury Bills
- Central Government Dated Securities
- State Government Securities
- PSU Bonds
- Inter-Corporate Deposits
- CSGL accounts
- Money market instruments
- Merchant Banking
- Mutual Fund Distribution
- Investment/ trading in Equity and Equity derivatives
In addition to the above, it also offers advisory services to its clients to manage the government securities portfolio.
Achievements/ recognition:
- The first stand alone Primary Dealer to come up with an IPO & get listed
- The first PD to achieve ISO 9001:2000 certification.
- The first to obtain a P1+ rating from CRISIL for its short-term borrowing program. At present the rating from CRISIL is for borrowing up to Rs 250 crore.
- The company achieved a turnover of Rs.53,390 crore during 2005-2006.
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