PNB Gilts Ltd
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]
- Market Cap ₹ 1,308 Cr.
- Current Price ₹ 72.8
- High / Low ₹ 120 / 58.6
- Stock P/E 7.25
- Book Value ₹ 95.0
- Dividend Yield 1.37 %
- ROCE 6.14 %
- ROE 11.1 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.77 times its book value
- Company has been maintaining a healthy dividend payout of 17.8%
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 10.1% over past five years.
- Company has a low return on equity of 11.0% over last 3 years.
- Working capital days have increased from 93.2 days to 145 days
* 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
Financial Services Financial Services Finance Investment Company
Part of BSE Financial Services BSE 1000
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 410 | 343 | 500 | 402 | 508 | 882 | 1,052 | 756 | 1,230 | 1,577 | 1,676 | 1,699 | |
| 16 | 16 | 18 | 70 | 21 | 31 | 32 | 43 | 349 | 55 | 52 | 144 | |
| Operating Profit | 394 | 327 | 482 | 332 | 487 | 851 | 1,020 | 714 | 881 | 1,522 | 1,624 | 1,555 |
| OPM % | 96% | 95% | 96% | 83% | 96% | 96% | 97% | 94% | 72% | 97% | 97% | 92% |
| 0 | 0 | 0 | 0 | 0 | -81 | -9 | 8 | 8 | 4 | 2 | 2 | |
| Interest | 261 | 276 | 226 | 331 | 403 | 519 | 395 | 510 | 973 | 1,411 | 1,312 | 1,312 |
| Depreciation | 1 | 0 | 0 | 0 | 0 | 1 | 2 | 1 | 1 | 15 | 3 | 3 |
| Profit before tax | 133 | 51 | 257 | 1 | 83 | 250 | 614 | 210 | -85 | 99 | 311 | 242 |
| Tax % | 33% | 33% | 35% | -8% | 36% | 25% | 26% | 21% | -9% | 30% | 25% | 25% |
| 88 | 34 | 167 | 1 | 53 | 186 | 454 | 166 | -77 | 69 | 233 | 182 | |
| EPS in Rs | 4.90 | 1.92 | 9.29 | 0.08 | 2.94 | 10.35 | 25.23 | 9.21 | -4.29 | 3.86 | 12.95 | 10.09 |
| Dividend Payout % | 31% | 57% | 27% | 1,277% | 48% | 29% | 40% | 54% | -0% | 26% | 8% | 20% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 10% |
| 3 Years: | 11% |
| TTM: | 1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | -17% |
| 3 Years: | 60% |
| TTM: | -22% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 7% |
| 3 Years: | 7% |
| 1 Year: | -23% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 8% |
| 3 Years: | 11% |
| Last Year: | 11% |
Balance Sheet
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 | 180 |
| Reserves | 541 | 552 | 719 | 677 | 708 | 863 | 1,136 | 1,247 | 1,080 | 1,150 | 1,365 | 1,530 |
| 3,858 | 4,921 | 3,514 | 4,369 | 8,234 | 12,165 | 9,864 | 14,531 | 19,243 | 22,403 | 22,384 | 24,884 | |
| 182 | 119 | 153 | 27 | 400 | 1,051 | 960 | 792 | 994 | 807 | 773 | 467 | |
| Total Liabilities | 4,761 | 5,771 | 4,566 | 5,252 | 9,522 | 14,258 | 12,140 | 16,750 | 21,497 | 24,540 | 24,702 | 27,060 |
| 3 | 3 | 3 | 3 | 3 | 4 | 3 | 4 | 7 | 7 | 5 | 6 | |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 13 | -0 | -0 | -0 |
| Investments | 328 | 640 | 443 | 4,999 | 8,818 | 12,965 | 10,907 | 15,267 | 18,518 | 23,008 | 23,165 | 23,314 |
| 4,430 | 5,128 | 4,120 | 251 | 701 | 1,290 | 1,230 | 1,480 | 2,959 | 1,525 | 1,532 | 3,740 | |
| Total Assets | 4,761 | 5,771 | 4,566 | 5,252 | 9,522 | 14,258 | 12,140 | 16,750 | 21,497 | 24,540 | 24,702 | 27,060 |
Cash Flows
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -366 | -1,088 | 1,213 | -800 | -3,843 | -3,898 | 2,483 | -4,564 | -4,638 | -2,875 | -197 | -2,540 | |
| 368 | -313 | 197 | -0 | -0 | -1 | -1 | -1 | -14 | -1 | -1 | -1 | |
| 71 | 1,030 | -1,431 | 800 | 3,844 | 3,900 | -2,481 | 4,613 | 4,618 | 3,159 | -38 | 2,479 | |
| Net Cash Flow | 74 | -370 | -20 | 0 | -0 | 1 | 1 | 49 | -35 | 283 | -236 | -62 |
| Free Cash Flow | -366 | -1,088 | 1,212 | -800 | -3,844 | -3,899 | 2,482 | -4,564 | -4,653 | -2,876 | -198 | -2,541 |
| CFO/OP | -81% | -328% | 269% | -235% | -785% | -452% | 259% | -631% | -526% | -187% | -8% | -158% |
Ratios
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | -10 | 63 | 319 | 93 | 102 | -136 | 69 | 181 | 129 | 39 | 96 | 145 |
| ROCE % | 9% | 6% | 10% | 7% | 7% | 8% | 8% | 5% | 5% | 7% | 7% | 6% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Average Leverage Ratio times |
|
||||||||||
| Capital Adequacy Ratio (CRAR) % |
|||||||||||
| Secondary Market Outright Turnover INR Crore |
|||||||||||
| Success Ratio in T-Bills % |
|||||||||||
| Secondary Market Outright Turnover (Market Share % Metric) % |
|||||||||||
Extracted by Screener AI
Documents
Announcements
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 37m
-
Announcement under Regulation 30 (LODR)-Dividend Updates
20 Apr - PNB Gilts approved FY26 audited results, reported ₹18,161.55 lakh profit, and recommended ₹2 final dividend.
-
Board Meeting Outcome for Audited Financial Result For Quarter And Year Ended On 31.03.2026
20 Apr - PNB Gilts approved FY26 audited results and recommended ₹2 final dividend per share.
-
Audited Financial Results For The Quarter And Year Ended On 31.03.2026
20 Apr - Board approved FY26 audited results and recommended ₹2 final dividend per share.
- Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 10 Apr
Annual reports
-
Financial Year 2025
from bse
-
Financial Year 2024
from bse
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2012
from nse
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]