PNB Gilts Ltd

₹ 61.6 0.82%
28 Jun - 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

FY20 segmental revenue[1]
Interest Income:87%
Net Gain on Securities:13%

  • Market Cap 1,110 Cr.
  • Current Price 61.6
  • High / Low 79.0 / 57.4
  • Stock P/E 6.92
  • Book Value 79.3
  • Dividend Yield 16.2 %
  • ROCE 5.26 %
  • ROE 11.7 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.78 times its book value
  • Stock is providing a good dividend yield of 16.22%.
  • Company has been maintaining a healthy dividend payout of 40.98%
  • Company's median sales growth is 19.24% of last 10 years

Cons

  • Company has low interest coverage ratio.

* 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: Finance Industry: Finance & Investments

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Quarterly Results

Figures in Rs. Crores

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
194 190 217 276 491 218 323 184 215 271 262 242
6 7 7 12 7 82 8 100 44 41 143 49
Operating Profit 188 183 210 265 484 137 315 84 171 230 119 193
OPM % 97% 96% 97% 96% 98% 63% 97% 46% 80% 85% 45% 80%
0 -62 -13 0 0 0 0 -9 -10 18 1 0
Interest 120 127 139 133 103 114 91 87 110 131 136 133
Depreciation 1 1 1 -0 0 0 1 1 0 0 0 0
Profit before tax 67 -7 57 132 380 22 223 -12 50 117 -16 59
Tax % 33% 71% 23% 25% 25% 25% 25% -20% 21% 29% 62% 17%
Net Profit 45 -2 44 99 284 17 167 -14 40 83 -6 49
EPS in Rs 2.51 -0.11 2.45 5.50 15.80 0.93 9.28 -0.79 2.22 4.61 -0.34 2.72

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
101 165 288 346 410 343 500 402 508 882 1,052 990
7 9 10 12 16 16 18 70 21 31 32 277
Operating Profit 94 156 278 333 394 327 482 332 487 851 1,020 713
OPM % 93% 94% 96% 96% 96% 95% 96% 83% 96% 96% 97% 72%
2 1 1 0 0 0 0 0 0 -81 -8 9
Interest 52 126 189 243 261 276 226 331 403 519 395 510
Depreciation 1 1 1 1 1 0 0 0 0 1 2 1
Profit before tax 44 30 89 91 133 51 257 1 83 250 614 210
Tax % 31% 29% 31% 32% 33% 33% 35% -8% 36% 25% 26% 21%
Net Profit 31 21 61 61 88 34 167 1 53 186 454 166
EPS in Rs 1.70 1.17 3.40 3.41 4.90 1.92 9.29 0.08 2.94 10.35 25.23 9.21
Dividend Payout % 53% 64% 22% 26% 31% 57% 27% 1,277% 48% 29% 40% 54%
Compounded Sales Growth
10 Years: 20%
5 Years: 15%
3 Years: 25%
TTM: -6%
Compounded Profit Growth
10 Years: 23%
5 Years: -1%
3 Years: 45%
TTM: -65%
Stock Price CAGR
10 Years: 12%
5 Years: 4%
3 Years: 22%
1 Year: -15%
Return on Equity
10 Years: 15%
5 Years: 18%
3 Years: 25%
Last Year: 12%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
135 135 135 180 180 180 180 180 180 180 180 180
Reserves 437 443 488 486 541 552 719 677 708 863 1,136 1,247
855 2,208 3,122 3,767 3,858 4,921 3,514 4,369 8,234 12,165 9,864 14,531
56 61 92 124 182 119 153 27 400 1,051 960 792
Total Liabilities 1,483 2,847 3,837 4,557 4,761 5,771 4,566 5,252 9,522 14,258 12,140 16,750
5 5 4 4 3 3 3 3 3 4 3 4
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 129 175 182 695 328 640 443 4,999 8,818 12,965 10,907 15,267
1,349 2,667 3,650 3,857 4,430 5,128 4,120 251 701 1,290 1,230 1,480
Total Assets 1,483 2,847 3,837 4,557 4,761 5,771 4,566 5,252 9,522 14,258 12,140 16,750

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-204 -1,292 -696 -94 -366 -1,088 1,213 -800 -3,843 -3,898 2,483 -4,564
2 -46 -8 -513 368 -313 197 -0 -0 -1 -1 -1
92 1,334 898 630 71 1,030 -1,431 800 3,844 3,900 -2,481 4,613
Net Cash Flow -110 -4 194 22 74 -370 -20 0 -0 1 1 49

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 3 0 0 0 0 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 3 0 0 0 0 0 0 0 0 0 0 0
Working Capital Days 4,271 5,529 4,123 3,596 3,426 5,296 2,883 93 102 68 69 138
ROCE % 7% 7% 8% 8% 9% 6% 10% 7% 7% 8% 8% 5%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
74.07 74.07 74.07 74.07 74.07 74.07 74.07 74.07 74.07 74.07 74.07 74.07
0.18 0.18 0.18 0.12 0.04 0.41 0.29 0.29 0.34 0.48 0.60 0.51
0.47 0.28 0.28 0.26 0.19 0.00 0.01 0.01 0.01 0.01 0.00 0.00
25.28 25.47 25.47 25.55 25.70 25.52 25.63 25.63 25.58 25.44 25.33 25.42

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