Punjab National Bank

₹ 50.8 -5.40%
27 Jan - close price
About

Punjab National Bank is India's first Swadeshi Bank. PNB is a Banking and Financial service bank owned by the Government of India with its headquarters is in New Delhi, India. It is the Third largest PSU after IOB in India.[1]

Key Points

Ratios
Capital Adequacy Ratio - 13.88%
Net Interest Margin - 3.09%
Gross NPA - 12.99%[1]
Net NPA - 4.03%
CASA Ratio - 44.66%[2]

  • Market Cap 55,936 Cr.
  • Current Price 50.8
  • High / Low 62.0 / 28.0
  • Stock P/E 23.8
  • Book Value 88.6
  • Dividend Yield 1.26 %
  • ROCE 4.02 %
  • ROE 4.05 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.57 times its book value
  • Company has delivered good profit growth of 26.6% CAGR over last 5 years

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.67% over past five years.
  • Company has a low return on equity of 3.01% over last 3 years.
  • Contingent liabilities of Rs.644,471 Cr.
  • Company might be capitalizing the interest cost

* 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.

Peer comparison

Sector: Banks Industry: Banks - Public Sector

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
Revenue 13,551 13,835 14,206 20,865 21,366 20,632 19,066 19,237 18,335 19,579 19,090 19,144 20,588
Interest 9,183 9,367 9,360 13,949 12,745 12,135 11,975 11,843 11,786 11,697 11,497 11,443 12,172
6,100 7,228 8,307 9,949 10,001 10,171 8,720 9,776 8,922 8,839 9,384 9,523 10,493
Financing Profit -1,732 -2,760 -3,461 -3,033 -1,380 -1,675 -1,629 -2,382 -2,373 -957 -1,791 -1,822 -2,077
Financing Margin % -13% -20% -24% -15% -6% -8% -9% -12% -13% -5% -9% -10% -10%
2,293 2,376 2,618 3,862 2,319 2,751 2,568 3,879 3,262 2,696 2,261 2,384 2,704
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 561 -384 -843 829 939 1,076 939 1,497 889 1,739 470 562 626
Tax % 23% -31% 29% 43% 42% 46% 42% 28% -35% 34% 48% 46% 42%
Net Profit 572 -377 -795 591 608 781 715 1,184 1,127 1,249 348 271 496
EPS in Rs 1.24 -0.57 -1.22 0.57 0.61 0.71 0.67 1.06 1.00 1.14 0.31 0.26 0.45
Gross NPA %
Net NPA %
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
Revenue 27,551 37,495 43,071 44,958 48,710 50,804 48,058 48,725 52,147 54,918 81,935 76,242 78,401
Interest 15,507 23,789 27,802 28,220 31,343 34,331 32,722 33,530 34,656 36,997 50,805 46,823 46,809
8,744 10,472 12,456 16,112 18,760 27,453 22,533 43,345 39,645 25,867 38,601 36,026 38,239
Financing Profit 3,300 3,234 2,812 626 -1,394 -10,980 -7,197 -28,151 -22,153 -7,946 -7,470 -6,607 -6,647
Financing Margin % 12% 9% 7% 1% -3% -22% -15% -58% -42% -14% -9% -9% -8%
3,658 4,240 4,310 4,710 6,175 6,100 9,168 8,883 7,367 9,388 12,777 12,329 10,044
Depreciation 265 302 336 367 384 413 430 581 584 614 982 896 0
Profit before tax 6,694 7,171 6,786 4,969 4,397 -5,293 1,540 -19,849 -15,370 827 4,325 4,826 3,397
Tax % 33% 31% 27% 29% 24% 31% 41% 37% 35% 56% 38% 19%
Net Profit 4,597 5,052 5,020 3,674 3,525 -3,510 1,239 -12,111 -9,550 485 2,695 3,908 2,364
EPS in Rs 28.88 29.63 28.03 19.98 18.33 -18.79 5.58 -43.88 -20.79 0.65 2.45 3.51 2.16
Dividend Payout % 15% 15% 19% 10% 18% -2% 0% 0% 0% 0% 0% 18%
Compounded Sales Growth
10 Years: 7%
5 Years: 10%
3 Years: 14%
TTM: 1%
Compounded Profit Growth
10 Years: -3%
5 Years: 27%
3 Years: 34%
TTM: -37%
Stock Price CAGR
10 Years: -11%
5 Years: -22%
3 Years: -6%
1 Year: 24%
Return on Equity
10 Years: -1%
5 Years: -5%
3 Years: 3%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
317 339 353 362 371 393 426 552 921 1,348 2,096 2,202
Reserves 22,298 28,865 34,116 37,731 41,669 41,412 42,990 40,965 45,164 62,529 90,439 95,380
350,870 427,054 446,090 520,237 574,450 652,056 672,987 713,769 728,702 772,767 1,166,015 1,213,606
12,799 14,188 16,089 16,490 19,522 18,932 16,909 22,242 15,333 14,814 21,176 28,113
Total Liabilities 386,284 470,445 496,648 574,820 636,011 712,793 733,311 777,528 790,120 851,457 1,279,725 1,339,301
3,064 3,217 3,422 3,490 3,656 5,308 6,298 6,371 6,246 7,262 11,049 10,696
CWIP 86 0 0 0 0 0 0 0 0 0 0 0
Investments 96,911 125,820 134,734 149,225 156,762 165,126 191,527 204,419 210,578 253,782 404,369 388,586
286,222 341,408 358,491 422,105 475,594 542,358 535,486 566,738 573,295 590,413 864,307 940,019
Total Assets 386,284 470,445 496,648 574,820 636,011 712,793 733,311 777,528 790,120 851,457 1,279,725 1,339,301

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
7,361 -25 -692 16,906 4,814 14,167 21,938 -1,742 -33,532 -12,793 30,950 19,932
-912 -397 -600 -302 -872 -1,352 159 392 -629 -338 -787 -1,104
-608 451 -694 2,129 7,451 5,975 -9,767 7,460 13,969 13,591 5,415 2,032
Net Cash Flow 5,841 29 -1,987 18,733 11,393 18,790 12,330 6,109 -20,192 460 35,579 20,859

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
ROE % 22% 19% 16% 10% 8% -8% 3% -29% -22% 1% 3% 4%

Shareholding Pattern

Numbers in percentages

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
83.19 85.59 85.59 76.87 76.87 73.15 73.15 73.15 73.15 73.15 73.15 73.15
2.18 1.00 0.89 3.81 2.94 2.51 2.21 1.19 1.36 0.99 1.22 1.71
7.82 6.78 6.08 9.99 9.07 11.27 11.21 11.61 11.60 11.45 12.29 12.98
0.00 0.00 0.00 0.03 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00
6.80 6.64 7.45 9.30 11.12 13.07 13.44 14.05 13.89 14.41 13.33 12.16

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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