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PNB Gilts Ltd. Stock Analysis

Small Cap
Evaluated by 1121 users | BSE: 532366 | NSE: PNBGILTS |
Finance - NBFC
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...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
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.
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Operating Income (Rs. Cr.)101165288346410343500402508884
Y-o-Y Gr. Rt.-63.4%74.9%20%18.5%-16.3%45.8%-19.6%26.3%74.1%
Adjusted EPS (Rs.)
Adjusted Earning per Share is the company’s net profit per share after adjusting for extra-ordinary/exceptional items
1.71.173.43.414.91.929.290.082.9410.35
Y-o-Y Gr. Rt.--31.2%190.6%0.3%43.7%-60.8%383.9%-99.1%3575%252%
Book Value per Share (Rs.)
The total value that a company will fetch upon liquidation (if it is closed down), after settling all obligations is called its Book Value. Book value of a company includes only tangible assets. Book value allocated to each outstanding share is called Book Value per share
31.7932.0934.6136.9740.0540.6549.9347.6149.3157.92
Y-o-Y Gr. Rt.-0.9%7.9%6.8%8.3%1.5%22.8%-4.7%3.6%17.5%
To view Net Profit/Total Funds (%) Colour Rating Guide click here
Net Profit/Total Funds (%): Colour Rating Guide
  • >1.25 : Very Good
  • 1-1.25 : Somewhat Good
  • <1: Not Good
Net Profit/Total Funds (%)2.140.971.831.461.90.663.240.030.721.57
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
PNB Gilts Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Operating Income27.3%16.6%20.9%74.1%
Adjusted EPS
Adjusted Earnings per Share is the Company’s net profit per share after adjusting for extra-ordinary/exceptional items.
22.2%16.1%3.7%252%
Book Value per Share
6.9%7.7%5.1%17.5%
Share Price 8.4% 8.1% -9.6% 34%
Key Financial Ratios
RATIOS \ YEARSMar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Asset Quality Ratio
To view Asset Quality Ratio Colour Rating Guide click here
Asset Quality Ratio: Colour Rating Guide
  • <0.5 : Very Good
  • 0.5-1 : Somewhat Good
  • >1 : Not Good
Net NPA to Net Advances (%)0000000000
Capitalization Ratio
To view Capitalization Ratio Colour Rating Guide click here
Capitalization Ratio: Colour Rating Guide
  • >17% : Very Good
  • 15%-17% : Somewhat Good
  • <15% : Not Good
Capital Adequacy Ratio (%)0000000000
Margins
Net Profit Margin (%) 30.3412.7821.2617.7521.5410.0533.410.3510.4121.07
Performance Ratios
To view Performance Ratios Colour Rating Guide click here
Performance Ratios: Colour Rating Guide
  • >15 : Very Good
  • 12-15 : Somewhat Good
  • <12 : Not Good
Return on Equity (%) 5.43.6610.29.5312.734.7520.510.166.0619.31
Entity Percentage Holding
Promoters 74.07%
Institutions 0.41%
Non-Institutions 25.52%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of PNB Gilts Ltd.'s performance infers:

PNB Gilts Ltd. earnings have grown by 16.1%, whereas share price has appreciated 8.1% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of PNB Gilts Ltd. share prices over the last 10 years. Here is what we found out:

PNB Gilts Ltd. share price has appreciated 3.6% annually over the past ten years.

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

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.
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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