Punjab National Bank

About [ edit ]

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 second largest PSU after SBI in India.#

Key Points [ edit ]
  • Market Cap 37,982 Cr.
  • Current Price 36.2
  • High / Low 46.4 / 26.3
  • Stock P/E 36.5
  • Book Value 61.0
  • Dividend Yield 0.00 %
  • ROCE 4.69 %
  • ROE 0.73 %
  • Face Value 2.00

Pros

  • Stock is trading at 0.59 times its book value
  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.43% over past five years.
  • Company has a low return on equity of -15.07% for last 3 years.
  • Contingent liabilities of Rs.241351.94 Cr.
  • Company might be capitalizing the interest cost

Peer comparison

Sector: Banks Industry: Banks - Public Sector

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
Revenue 13,296 12,523 13,254 13,074 13,327 13,551 13,835 14,206 20,832 21,356 20,599
Interest 8,530 8,475 8,875 8,775 9,087 9,183 9,367 9,360 13,949 12,745 12,135
8,306 12,701 5,870 13,348 4,847 6,100 7,228 8,307 9,949 10,160 10,428
Financing Profit -3,540 -8,653 -1,490 -9,049 -607 -1,732 -2,760 -3,461 -3,066 -1,549 -1,964
Financing Margin % -27% -69% -11% -69% -5% -13% -20% -24% -15% -7% -10%
Other Income 1,932 1,696 1,851 1,998 2,100 2,293 2,376 2,618 3,895 2,488 3,041
Depreciation 0 0 0 0 0 0 0 0 0 0 0
Profit before tax -1,608 -6,957 361 -7,051 1,493 561 -384 -843 829 939 1,076
Tax % 39% 34% 31% 35% 31% 23% -31% 29% 43% 42% 46%
Net Profit -860 -4,535 438 -4,613 1,074 570 -385 -820 538 576 747
EPS in Rs -3.12 -14.75 1.15 -10.02 2.33 1.24 -0.57 -1.22 0.57 0.61 0.71
Gross NPA %
Net NPA %

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
Revenue 19,778 21,938 27,551 37,495 43,071 44,958 48,710 50,804 48,058 48,725 52,147 54,918 76,993
Interest 12,576 13,230 15,507 23,789 27,802 28,220 31,343 34,331 32,722 33,530 34,656 36,997 48,190
5,070 6,039 8,741 10,472 12,456 16,112 18,760 27,453 22,533 43,345 39,645 25,867 38,843
Financing Profit 2,131 2,668 3,303 3,234 2,812 626 -1,394 -10,980 -7,197 -28,151 -22,153 -7,946 -10,041
Financing Margin % 11% 12% 12% 9% 7% 1% -3% -22% -15% -58% -42% -14% -13%
Other Income 2,912 3,503 3,655 4,240 4,310 4,710 6,175 6,100 9,168 8,883 7,367 9,388 12,042
Depreciation 195 227 265 302 336 367 384 413 430 581 584 614 0
Profit before tax 4,848 5,945 6,694 7,171 6,786 4,969 4,397 -5,293 1,540 -19,849 -15,370 827 2,002
Tax % 35% 35% 33% 31% 27% 29% 24% 31% 41% 37% 35% 56%
Net Profit 3,197 3,973 4,575 5,025 4,954 3,617 3,400 -3,690 1,187 -12,113 -9,570 438 1,041
EPS in Rs 28.88 29.63 28.03 19.98 18.33 -18.79 5.58 -43.88 -20.79 0.65 0.67
Dividend Payout % 20% 17% 15% 15% 19% 10% 18% -2% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:10%
5 Years:2%
3 Years:5%
TTM:43%
Compounded Profit Growth
10 Years:-20%
5 Years:-35%
3 Years:-30%
TTM:131%
Stock Price CAGR
10 Years:-16%
5 Years:-15%
3 Years:-27%
1 Year:24%
Return on Equity
10 Years:-1%
5 Years:-11%
3 Years:-15%
Last Year:1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
315 315 317 339 353 362 371 393 426 552 921 1,348
Reserves 15,245 18,387 22,298 28,865 34,116 37,731 41,669 41,412 42,990 40,965 45,164 62,529
Borrowings 227,795 274,221 350,870 427,054 446,090 520,237 574,450 652,056 672,987 713,769 728,702 772,767
10,236 10,646 12,799 14,188 16,089 16,490 19,522 18,932 16,909 22,242 15,333 14,814
Total Liabilities 253,591 303,569 386,284 470,445 496,648 574,820 636,011 712,793 733,311 777,528 790,120 851,457
2,622 2,531 3,064 3,217 3,422 3,490 3,656 5,308 6,298 6,371 6,246 7,262
CWIP 0 0 86 0 0 0 0 0 0 0 0 0
Investments 65,392 79,254 96,911 125,820 134,734 149,225 156,762 165,126 191,527 204,419 210,578 253,782
185,577 221,784 286,222 341,408 358,491 422,105 475,594 542,358 535,486 566,738 573,295 590,413
Total Assets 253,591 303,569 386,284 470,445 496,648 574,820 636,011 712,793 733,311 777,528 790,120 851,457

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
2,222 1,774 7,361 -25 -692 16,906 4,814 14,167 21,938 -1,742 -33,532 -12,744
-304 -174 -912 -397 -600 -302 -872 -1,352 159 392 -629 -987
879 626 -608 451 -694 2,129 7,451 5,975 -9,767 7,460 13,969 14,190
Net Cash Flow 2,797 2,226 5,841 29 -1,987 18,733 11,393 18,790 12,330 6,109 -20,192 460

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROE % 22% 23% 22% 19% 16% 10% 8% -9% 3% -29% -22% 1%

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
62.25 66.09 70.22 75.41 75.41 75.41 83.19 83.19 85.59 85.59 76.87 76.87
8.47 3.72 3.07 3.41 3.32 3.45 2.36 2.18 1.00 0.89 3.81 2.94
20.68 20.05 16.32 13.09 12.67 12.23 8.31 7.82 6.78 6.08 9.99 9.07
0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.03 0.01
8.59 10.13 10.38 8.09 8.60 8.91 6.13 6.80 6.64 7.45 9.30 11.12

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