PNB

₹51.5 -0.5 | 0.9%

WEBSITE BSE:532461 NSE : PUNJAB NATIO 09 Jun, 13:38

Market Cap ₹56707 Cr.

Stock P/E 16.9

P/B 0.6

Current Price ₹51.5

Book Value ₹ 85.8

Face Value 2

52W High ₹62

Dividend Yield 1.26%

52W Low ₹ 28.1

Edit Ratio

PNB Research see more...

Overview Inc. Year: 1895Industry: Bank - Public

Punjab National Bank is an India-based bank. The Bank's segments include Retail banking,Treasury, Corporate/Wholesale banking, and Other banking operations. The Treasury section consists of the entire investment portfolio and trading in forex contracts and spinoff contracts. The Bank presents numerous banking offerings, along with agriculture banking, retail banking, treasury operations, corporate banking, service provider banking, NRI offerings, depository services, virtual banking offerings and mutual funds. Its depository offerings comprises savings deposits, term deposits, current deposits, recurring deposits, Capital Gain Account Scheme and Gold Monetization Scheme. Its loan portfolio consists of retail loans, agriculture loans, micro, small and medium organisations (MSME) loans and corporate loans. Its other services include cash control offerings, export/import finance, gold card scheme for exporters, doorstep banking service and on-line trading.

PNB Share Price

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

PNB Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Interest Earned	20599	19046	19229	18335	19579	19090	19144	20588	22808	24305
Other Income	3041	3733	3586	3262	2696	2261	2384	2704	3325	3827
Total Income	23639	22780	22815	21597	22275	21351	21527	23292	26134	28132
Interest Expense	12135	11975	11843	11786	11697	11497	11443	12172	13513	14690
Operating Expenditure	4947	5097	4773	5675	5495	4547	4762	5610	6859	7105
Provisions and contingencies	5480	4768	4702	3247	3344	4837	4761	4883	4719	3708
Operating Profit	1076	939	1497	889	1739	470	562	626	1043	2630
Profit Before Tax	1076	939	1497	889	1739	470	562	626	1043	2630
Provision for Tax	491	393	417	-311	588	225	258	263	383	889
Profit After Tax	586	547	1080	1200	1150	245	304	364	660	1741
Adjustments	162	154	88	-96	99	93	-23	130	48	123
Profit After Adjustments	747	701	1168	1104	1250	338	282	494	708	1864
Adjusted Earnings Per Share	0.7	0.7	1.1	1	1.1	0.3	0.3	0.4	0.6	1.7

PNB Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Interest Earned	43071	44958	48710	50804	48058	48725	52147	54918	81935	76242	86845	86845
Other Income	4310	4710	6175	6100	9168	8883	7367	9388	12235	12098	12240	12240
Total Income	47380	49668	54884	56904	57226	57608	59515	64306	94170	88339	99085	99085
Interest Expense	27802	28220	31343	34331	32722	33530	34656	36997	50805	46823	51817	51818
Operating Expenditure	8337	9581	10809	10350	9524	13643	11689	12150	20516	20491	24336	24336
Provisions and contingencies	4454	6897	8335	17516	13440	30284	28539	14331	19067	16431	18071	18071
Operating Profit	6786	4969	4397	-5293	1540	-19849	-15370	827	3782	4594	4861	4861
Profit Before Tax	6786	4969	4397	-5293	1540	-19849	-15370	827	3782	4594	4861	4861
Provision for Tax	1859	1435	1056	-1630	639	-7264	-5343	464	1630	919	1792	1793
Profit After Tax	4927	3535	3341	-3663	901	-12584	-10026	363	2152	3676	3069	3069
Adjustments	27	82	58	-27	286	471	456	75	410	185	279	278
Profit After Adjustments	4954	3617	3400	-3690	1187	-12113	-9570	438	2562	3861	3348	3348
Adjusted Earnings Per Share	28	20	18.3	-18.8	5.6	-43.9	-20.8	0.7	2.4	3.5	3	3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	14%	17%	12%	7%
Operating Profit CAGR	6%	80%	0%	-3%
PAT CAGR	-17%	104%	0%	-5%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	66%	17%	-11%	-10%
ROE Average	3%	3%	-3%	-2%
ROCE Average	6%	6%	1%	2%

PNB Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	34469	38093	42039	41804	43415	41517	46084	63876	92534	97582	102881
Minority's Interest	366	423	549	729	781	309	288	361	487	473	459
Deposits	399000	461204	515245	570383	629651	648439	681874	710254	1113717	1154234	1290347
Borrowings	47090	59033	59205	81674	43336	65330	46828	62512	52298	59372	70149
Other Liabilities & Provisions	15722	16067	18973	18204	16128	21934	15046	14453	20689	27640	29813
Total Liabilities	496648	574820	636011	712793	733311	777528	790120	851457	1279725	1339301	1493649
Cash and balance with RBI	17930	22406	24436	26492	25410	29029	32338	38604	44267	86128	78214
Bank Balance	10204	24460	33823	52557	65969	68459	44958	39152	69067	48066	79115
Investments	134734	149225	156762	165126	191527	204419	210578	253782	404369	388586	416914
Advances	320289	366073	404614	446083	424230	438826	462416	476853	679346	733766	837459
Fixed Assets	3422	3490	3656	5308	6298	6371	6246	7262	11049	10696	12084
Other Assets	10069	9166	12720	17226	19876	30424	33583	35804	71627	72059	69864
Total Assets	496648	574820	636011	712793	733311	777528	790120	851457	1279725	1339301	1493649

PNB Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	30120	28133	46866	58259	79049	91379	97488	77296	77756	113334	134194
Cash Flow from Operating Activities	-692	16906	4814	14167	21938	-1742	-33532	-12793	1240	20032	22592
Cash Flow from Investing Activities	-600	-302	-872	-1352	159	392	-629	-338	-787	-1204	-732
Cash Flow from Financing Activities	-694	2129	7451	5975	-9767	7460	13969	13591	5415	2032	1275
Net Cash Inflow / Outflow	-1987	18733	11393	18790	12330	6109	-20192	460	5868	20859	23135
Closing Cash & Cash Equivalent	28133	46866	58259	77049	91379	97488	77296	77756	113334	134194	157328

PNB Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	28.03	19.98	18.33	-18.79	5.58	-43.88	-20.79	0.65	2.45	3.51	3.04
CEPS(Rs)	29.78	21.55	20.09	-16.55	6.26	-43.48	-20.51	1.45	2.99	4.15	3.61
DPS(Rs)	5.4	2	3.3	0.38	0.03	0.22	0.07	0.05	0.17	0.64	0.65
Book NAV/Share(Rs)	186.92	202.61	219.18	198.41	186.13	137.05	92.31	87.74	81.44	82.22	85.76
Yield on Advances	13.45	12.28	12.04	11.39	11.33	11.1	11.28	11.52	12.06	10.39	10.37
Yield on Investments	7.7	7.51	7.76	8.19	8.05	8.43	7.45	7.02	7.43	7.04	6.52
Cost of Liabilities	6.23	5.42	5.46	5.26	4.86	4.7	4.76	4.79	4.36	3.86	3.81
NIM (Net Interest Margin)	3.16	2.98	2.8	2.39	2.17	2.05	2.33	2.22	2.6	2.34	2.48
Interest Spread	7.21	6.86	6.58	6.12	6.47	6.41	6.52	6.73	7.7	6.53	6.56
ROA(%)	1.02	0.66	0.55	-0.54	0.12	-1.67	-1.28	0.04	0.2	0.28	0.22
ROE(%)	16.21	10.14	8.64	-9.2	2.29	-32.5	-24.96	0.72	2.98	4.18	3.32
ROCE(%)	11.53	8.53	7.69	-1.39	3.92	-17.46	-13.05	3.04	5.39	5.34	5.86
PER(x)	5.12	7.45	7.88	0	27.01	0	0	49.71	14.99	10	15.36
Price/Book(x)	0.77	0.73	0.66	0.43	0.81	0.7	1.03	0.37	0.45	0.43	0.54
Dividend Yield(%)	3.76	1.34	2.29	0.45	0.02	0.24	0.07	0.15	0.47	1.83	1.39
EV/Net Sales(x)	1.68	1.91	1.77	1.93	1.57	1.88	1.74	1.54	1.11	1.28	1.4
EV/Core EBITDA(x)	6.45	7.25	6.75	8.04	5.03	8.79	6.89	5.56	3.97	4.66	5.3
Interest Earned Growth(%)	14.87	4.38	8.34	4.3	-5.4	1.39	7.02	5.31	49.19	-6.95	13.91
Net Profit Growth	-0.96	-28.26	-5.47	-209.63	124.6	-1496.51	20.33	103.62	492.41	70.78	-16.5
Advances Growth	6.29	14.29	10.53	10.25	-4.9	3.44	5.38	3.12	42.46	8.01	14.13
EPS Growth(%)	-5.4	-28.72	-8.25	-202.51	129.69	-886.48	52.63	103.13	275.72	43.4	-13.27
Loans/Deposits(x)	11.8	12.8	11.49	14.32	6.88	10.07	6.87	8.8	4.7	5.14	5.44
Cash/Deposits(x)	0.04	0.05	0.05	0.05	0.04	0.04	0.05	0.05	0.04	0.07	0.06
Current Ratio(x)	0.34	0.32	0.3	0.29	0.3	0.32	0.31	0.36	0.36	0.34	0.32
Quick Ratio(x)	11.8	12.8	11.49	14.32	6.88	10.07	6.87	8.8	4.7	5.14	5.44
CASA %	38.65	37.78	36.03	36.58	41.66	40.97	42.15	42.86	44.45	46.45	41.92

PNB Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	76.87	76.87	73.15	73.15	73.15	73.15	73.15	73.15	73.15	73.15
FII	3.81	2.94	2.51	2.21	1.19	1.36	0.99	1.22	1.71	1.7
DII	10.02	9.08	11.27	11.2	11.61	11.6	11.45	12.3	12.99	13.53
Public	9.3	11.12	13.07	13.44	14.05	13.89	14.41	13.34	12.16	11.62
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	805.41	805.41	805.41	805.41	805.41	805.41	805.41	805.41	805.41	805.41
FII	39.97	30.76	27.68	24.38	13.16	14.93	10.89	13.38	18.78	18.75
DII	104.96	95.12	124.07	123.36	127.85	127.77	126.13	135.41	143	148.99
Public	97.43	116.47	143.94	147.94	154.68	152.99	158.67	146.89	133.91	127.96
Others	0	0	0	0	0	0	0	0	0	0
Total	1047.77	1047.77	1101.1	1101.1	1101.1	1101.1	1101.1	1101.1	1101.1	1101.1

Pros

Stock is trading at 0.6 times its book value

Cons

Company has a low return on equity of 3% over the last 3 years.
The company has delivered a poor profit growth of 0% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.