āagman

Not investment advice. Data and computed figures, for information only.

Punjab National Bank

NSE: PNBF&O
₹116.30
+₹1.25 (+1.09%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,34,444 Cr
CMP
₹116.30
52-wk High / Low
₹135 / 99
P/E
6.1
P/B
0.9
Book Value
₹136.0
Div Yield
2.56%
ROCE
6.1%
ROE
13.0%
Face Value
₹2
D/E
12.22

Price−0.6% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹221
√(22.5 × EPS × book value per share)
Cash flow to profit
1.39
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Sustainable growth
11.0%
ROE × earnings retention ratio
ROE stability
4.3
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.46DII +0.01
Latest quarter vs the previous one
Cash-accrual divergence
−0.4%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.0x)
+FII holding rose by 4.2pp over the last year
+PE of 6.1x is below the sector median of 20.4x
Watch-outs
−Latest ROCE of 6.1% trails the sector median of 9.4%
−Borrowings are up 31.7% since FY2016 (81674 to 107558)
−Promoter holding fell by 3.1pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales25,67326,85827,85228,68229,14530,44731,89532,52332,57232,51332,88932,79833,589
Expenses10,99010,2599,4499,8318,4738,5927,4949,1429,1978,2999,2987,5188,262
Operating Profit—————————————
OPM %—————————————
Other Income3,3602,9992,6764,2943,6154,6643,3924,7765,4274,1715,0134,0804,365
Interest16,06416,82017,44418,20618,53619,79020,73821,64021,82821,85822,16422,21922,583
Depreciation0000000000000
Profit before tax1,9792,7783,6344,9405,7516,7297,0556,5186,9736,5276,4407,1417,108
Net Profit1,3631,9902,4413,3633,9914,7394,8115,0112,1675,1215,5775,6025,835
EPS (₹)1.221.812.213.043.614.104.184.341.844.464.834.875.06

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales48,71050,80448,05848,72552,14754,91881,93576,24286,8451,09,0651,24,0101,30,7721,31,789
Expenses18,76027,45322,53343,34539,64525,86738,60136,02641,50239,62332,74333,03133,378
Operating Profit—————————————
OPM %—————————————
Other Income6,1756,1009,1688,8837,3679,38812,77712,32912,52914,15817,56020,06217,629
Interest31,34334,33132,72233,53034,65636,99750,80546,82351,81768,53480,70488,06988,824
Depreciation3844134305815846149828969059069581,2810
Profit before tax4,397−5,2931,540−19,849−15,3708274,3254,8265,15114,16027,16628,45327,216
Net Profit3,525−3,5101,239−12,111−9,5504852,6953,9083,3599,15718,55318,46722,134
EPS (₹)18.33−18.795.58−43.88−20.790.652.453.513.048.2716.0816.0019.22

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital3713934265529211,3482,0962,2022,2022,2022,2992,299—
Reserves41,66941,41242,99040,96545,16462,52990,43995,3801,00,6781,08,1851,30,8391,47,674—
Other Liabilities19,52218,93216,90922,24215,33314,81421,17628,11330,27336,43841,57951,005—
Total Liabilities6,36,0117,12,7937,33,3117,77,5287,90,1208,51,45712,79,72513,39,30114,93,64915,98,63618,57,54420,33,331—
Fixed Assets3,6565,3086,2986,3716,2467,26211,04910,69612,08412,34813,08315,625—
CWIP000000000000—
Investments1,56,7621,65,1261,91,5272,04,4192,10,5782,53,7824,04,3693,88,5864,16,9144,46,4215,24,8405,23,515—
Other Assets4,75,5945,42,3585,35,4865,66,7385,73,2955,90,4138,64,3079,40,01910,64,65111,39,86713,19,62014,94,191—
Total Assets6,36,0117,12,7937,33,3117,77,5287,90,1208,51,45712,79,72513,39,30114,93,64915,98,63618,57,54420,33,331—
Deposits5,37,7585,70,3836,29,6516,48,4396,81,8747,10,25411,13,71711,54,23412,90,34713,79,22515,77,02017,24,795—
Borrowing36,69281,67443,33665,33046,82862,51252,29859,37270,14972,5861,05,8071,07,558—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity16,9064,81414,16721,938−1,742−33,532−12,79330,95020,03222,592−27,93922,07525,635
Cash from Investing Activity−302−872−1,352159392−629−338−787−1,204−732−1,506−1,578−609
Cash from Financing Activity2,1297,4515,975−9,7677,46013,96913,5915,4152,0321,2753,518−1,138−11,664
Net Cash Flow18,73311,39318,79012,3306,109−20,19246035,57920,85923,135−25,92819,35913,362

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %————————————6.1
ROE %10.08.0−9.03.0−29.0−22.01.03.04.03.09.015.013.0
EPS (₹)19.9818.33−18.795.58−43.88−20.790.652.453.513.048.2716.0816.00
Book Value (₹)————————————136.0
Face Value (₹)————————————2
P/E————————————6.1
Div Yield %————————————2.56
NPM %—6.4−6.22.2−21.0−16.00.82.84.43.47.413.112.2
OPM %—————————————
D/E—13.6615.6015.5017.1915.8112.1012.6012.4413.2213.1512.6412.22
P/B————————————0.9

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+10.0%
5 years+10.0%
3 years+15.0%
TTM+3.0%
Compounded profit growth
10 years+21.0%
5 years+48.0%
3 years+76.0%
TTM+33.0%
Stock price CAGR
10 years−2.0%
5 years+23.0%
3 years+16.0%
Last year+0.0%
Return on equity
10 years4.0%
5 years9.0%
3 years12.0%
Last year13.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters65.01%65.01%62.25%75.41%83.19%76.87%73.15%73.15%73.15%70.08%70.08%70.08%
FIIs9.96%9.96%9.14%3.41%2.18%2.94%1.36%1.71%4.82%5.71%6.39%5.93%
DIIs19.54%19.54%22.23%13.09%7.82%9.07%11.60%13.53%12.37%14.67%16.05%16.06%
Government0.02%0.02%0.01%0.01%0.00%0.01%0.00%0.00%0.00%0.00%0.00%0.00%
Public5.47%5.47%6.37%8.09%6.80%11.12%13.89%11.61%9.67%9.54%7.48%7.91%
No. of shareholders3,67,7303,67,7304,69,8346,52,1207,79,89413,81,30519,50,65920,67,20223,53,62526,53,66522,22,88922,31,532
Change since Jun 2023 (pp)
Promoters +5.07FIIs −4.03DIIs −3.48Public +2.44

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Change in DirectorateChange In Interest RatesClosure of Trading WindowCompliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Intimation Under SEBI (LODR) Regulations, 2015
Annual reports
Annual Report 2026Annual Report 2024Annual Report 2023Annual Report 2022Annual Report 2021
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTJul 2026PPTJul 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingJan 2026TranscriptJan 2026PPTJan 2026PPTJan 2026Recording

Corporate actions

As of 12 Jun 2026
12 Jun 2026DIVIDENDDividend - Rs 3 Per Share—
20 Jun 2025DIVIDENDDividend - Rs 2.90 Per Share—
21 Jun 2024DIVIDENDDividend - Rs 1.50 Per Share—
23 Jun 2023DIVIDENDAnnual General Meeting/Dividend - Rs 0.65 Per Share—
22 Jun 2022DIVIDENDAnnual General Meeting/Dividend - Rs 0.64 Per Share—
22 Jun 2015DIVIDENDAnnual General Meeting/ Dividend - Rs 3.30/- Per Share—
18 Dec 2014SPLITFace Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share10 : 2
11 Feb 2014DIVIDENDInterim Dividend Rs.10/- Per Share—
13 Jun 2013DIVIDENDAnnual General Meeting / Final Dividend Rs.27 Per Equity Share—
14 Jun 2012DIVIDENDAnnual General Meeting And Dividend Rs.22/- Per Share—
16 Jun 2011DIVIDENDAnnual General Meeting And Dividend Rs.22/- Per Share—
8 Jul 2010DIVIDENDAnnual General Meeting And Final Dividend Rs.12/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman