PNB Gilts Ltd

PNB Gilts Ltd

₹ 104 -2.84%
01 Aug - close price
About

The Co’s primary activities include supporting government borrowing program via underwriting of government securities issuances and trading in a gamut of fixed income instruments such as Government securities, Treasury Bills, State Development Loans, Corporate Bonds, Interest Rate Swaps and various money market instruments such as Certificates of Deposits, Commercial Papers etc.[1]

Key Points

Products & Services
The range of products and services offered by the company includes T-bills, Central Government dated securities, state government securities, public sector unit (PSU) bonds, inter-corporate deposits, gilt accounts, money market instruments, and investment/trading in equity and equity derivatives. In addition, it offers advisory services to clients for managing their G-Sec portfolios. [1]

  • Market Cap 1,875 Cr.
  • Current Price 104
  • High / Low 137 / 73.6
  • Stock P/E 5.54
  • Book Value 85.8
  • Dividend Yield 0.96 %
  • ROCE 6.80 %
  • ROE 16.1 %
  • Face Value 10.0

Pros

Cons

  • Company has low interest coverage ratio.
  • Company has a low return on equity of 5.23% over last 3 years.
  • Dividend payout has been low at 11.2% of profits over last 3 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.

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Quarterly Results

Figures in Rs. Crores

Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
283 339 297 310 443 347 385 474 440 501 362 419 563
212 85 33 18 13 67 34 13 14 12 59 12 26
Operating Profit 71 255 263 292 430 280 351 461 426 488 303 407 538
OPM % 25% 75% 89% 94% 97% 81% 91% 97% 97% 98% 84% 97% 95%
-0 1 0 7 0 0 4 0 0 1 1 0 0
Interest 186 255 251 280 354 325 361 371 355 336 315 307 324
Depreciation 0 0 0 1 4 4 4 4 1 1 1 1 1
Profit before tax -115 1 12 18 72 -49 -10 86 71 153 -12 99 213
Tax % -23% 1,256% 47% 25% 19% -16% 47% 21% 25% 25% -13% 24% 25%
-89 -8 6 13 58 -41 -15 68 53 115 -10 75 160
EPS in Rs -4.94 -0.44 0.34 0.75 3.21 -2.28 -0.86 3.78 2.97 6.37 -0.56 4.17 8.89
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
346 410 343 500 402 508 882 1,052 756 1,230 1,577 1,676 1,845
12 16 16 18 70 21 31 32 43 349 55 52 109
Operating Profit 333 394 327 482 332 487 851 1,020 714 881 1,522 1,624 1,736
OPM % 96% 96% 95% 96% 83% 96% 96% 97% 94% 72% 97% 97% 94%
0 0 0 0 0 0 -81 -9 8 8 4 2 3
Interest 243 261 276 226 331 403 519 395 510 973 1,411 1,312 1,282
Depreciation 1 1 0 0 0 0 1 2 1 1 15 3 3
Profit before tax 91 133 51 257 1 83 250 614 210 -85 99 311 453
Tax % 32% 33% 33% 35% -8% 36% 25% 26% 21% -9% 30% 25%
61 88 34 167 1 53 186 454 166 -77 69 233 340
EPS in Rs 3.41 4.90 1.92 9.29 0.08 2.94 10.35 25.23 9.21 -4.29 3.86 12.95 18.87
Dividend Payout % 26% 31% 57% 27% 1,277% 48% 29% 40% 54% 0% 26% 8%
Compounded Sales Growth
10 Years: 15%
5 Years: 14%
3 Years: 30%
TTM: 12%
Compounded Profit Growth
10 Years: 10%
5 Years: -1%
3 Years: 13%
TTM: 435%
Stock Price CAGR
10 Years: 14%
5 Years: 18%
3 Years: 16%
1 Year: -18%
Return on Equity
10 Years: 12%
5 Years: 13%
3 Years: 5%
Last Year: 16%

Balance Sheet

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 180 180 180 180 180 180 180 180 180 180 180 180
Reserves 486 541 552 719 677 708 863 1,136 1,247 1,080 1,150 1,365
3,767 3,858 4,921 3,514 4,369 8,234 12,165 9,864 14,531 19,243 22,403 22,384
124 182 119 153 27 400 1,051 960 792 994 807 773
Total Liabilities 4,557 4,761 5,771 4,566 5,252 9,522 14,258 12,140 16,750 21,497 24,540 24,703
4 3 3 3 3 3 4 3 4 7 7 5
CWIP 0 0 0 0 0 0 0 0 0 13 0 0
Investments 695 328 640 443 4,999 8,818 12,965 10,907 15,267 18,518 23,008 23,165
3,857 4,430 5,128 4,120 251 701 1,290 1,230 1,480 2,959 1,525 1,532
Total Assets 4,557 4,761 5,771 4,566 5,252 9,522 14,258 12,140 16,750 21,497 24,540 24,703

Cash Flows

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-94 -366 -1,088 1,213 -800 -3,843 -3,898 2,483 -4,564 -4,638 -2,875 -197
-513 368 -313 197 -0 -0 -1 -1 -1 -14 -1 -1
630 71 1,030 -1,431 800 3,844 3,900 -2,481 4,613 4,618 3,159 -38
Net Cash Flow 22 74 -370 -20 0 -0 1 1 49 -35 283 -236

Ratios

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 0 0 0 0 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 0 0 0 0 0 0 0 0 0 0 0 0
Working Capital Days -381 -10 63 319 93 102 -136 69 181 129 39 95
ROCE % 8% 9% 6% 10% 7% 7% 8% 8% 5% 5% 7% 7%

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
74.07% 74.07% 74.07% 74.07% 74.07% 74.07% 74.07% 74.07% 74.07% 74.07% 74.07% 74.07%
0.31% 0.33% 0.24% 0.01% 0.04% 0.01% 0.02% 0.25% 0.10% 0.29% 0.35% 0.53%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.08% 0.00% 0.00% 0.00% 0.00%
25.62% 25.61% 25.70% 25.93% 25.89% 25.91% 25.91% 25.60% 25.82% 25.64% 25.58% 25.40%
No. of Shareholders 84,89683,35283,47281,30684,15481,67382,76582,89783,75284,96084,45383,245

* 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.

Click on the line-items to see the names of individual entities.

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