NSE/PNB

PNBPunjab National Bank

Financial Services · NSE

₹114.48+0.81%

52-wk low52-WEEK RANGE52-wk high

₹91.36+25.3% from low ·-13.5% from high₹132.36

Price chart · 1M–10Y · daily-close

NSE bhavcopy + 10Y historical

PNB+19.55% · 1Y

Range high ₹135.15Range low ₹89.45Latest ₹114.48252 bars · daily-close · NSE bhavcopy + 10Y history

Financial ServicesBanks - RegionalLargecapLow Risk

Stock scorecard

Auto-computed from latest ratios + sector context · not a buy/sell signal

Composite50/100

Performance

Low

Hasn't fared well — amongst the weak performers.

· 52w return +11.9%
· Below 200-DMA (-2.0%) — downtrend

Valuation

Low

Appears to be fairly valued to cheap vs peers.

· P/E 7.3 vs sector median 18.5 — 60% cheaper
· P/B 0.88 below sector median 2.13

Growth

Medium

Steady but not standout growth.

· Revenue YoY +15.2%
· 3Y revenue CAGR +13.2%

Profitability

Medium

Average profitability vs peers.

· ROE 12.7%
· Net margin 28.1% — strong pricing power

DVM composite · Durability · Valuation · Momentum

Trendlyne-style 3-axis composite · all drivers shown below · not a buy/sell signal

CompositeB(74/100)

Durability

77/100

Financially resilient — strong quality + solvency profile.

Show 2 drivers

Piotroski F-score7/8 (88pt)
ROE12.7% (51pt)

Valuation

A+

94/100

Attractively valued vs peers and growth — good margin of safety.

Show 3 drivers

P/E vs sector (7.3 / 18.5)40% (100pt)
P/B0.88 (100pt)
Dividend yield2.53% (63pt)

Momentum

51/100

Momentum is muted; trend is unclear or rolling over.

Show 5 drivers

52w change+11.9% (60pt)
DMA-trend alignmentdown (25pt)
RSI (14)54.3 (60pt)
Price vs 200-DMA-1.2% (50pt)
MACD regimebullish (75pt)

Valuation positioning

Current ratio vs sector peer distribution

P/E (TTM)7.34

UNDERVALUED

CheapestP/E 7.3 at 10th %ile of sector — cheaper than 90% of peers.Most expensive

P/B0.88

UNDERVALUED

CheapestP/B 0.88 at 7th %ile of sector.Most expensive

Monthly seasonality

Avg monthly return over 11 years · historical — not a forecast

Best: Oct +7.90% · Worst: Feb -9.19%

Jan

+1.4%

45% win

Feb

-9.2%

33% win

Mar

-1.1%

50% win

Apr

+4.5%

75% win

May

-4.6%

18% win

Jun

+2.4%

Monthly return distribution

Distribution of 135 monthly returns

Mean

+0.55%

Median

-0.39%

Std dev

13.67%

Best

+52.8%

Worst

-40.8%

% positive

47%

SWOT analysis

Auto-derived from ratios + sector context + forensics · research only, not a recommendation

STRENGTHS · 2

Strong net margin (28.1%)
High margin indicates pricing power + operating efficiency
Financial quality score 7/8
Piotroski ≥7 historically associated with outperformance

WEAKNESSES · 0

No material weaknesses flag from the numbers

OPPORTUNITIES · 1

Attractive income yield (2.53%)
Payout ratio 19% leaves room for dividend growth

THREATS · 0

No immediate threats from the data

RETURNS · DAILY-CLOSE BASED

3Y+ shown as CAGR

+0.8%

+2.4%

+2.5%

-6.8%

+1.7%

+18.1%

+32.9%

+21.9%

10Y

+2.4%

Fundamentals

VALUATION

Market cap

₹1,30,742 Cr

P/E (TTM)

7.3

P/E (fwd)

7.2

next 12m

P/B

0.88

EV/EBITDA

—

Book value

₹129.58

per share

PROFITABILITY · QUALITY

ROE

12.7%

ROCE

—

Net margin

28.1%

Op margin

29.4%

Gross margin

0.0%

D/E

—

GROWTH · MARKET

Rev YoY

+15.2%

Profit YoY

+1.9%

Div yield

2.53%

Payout

18.7%

52w change

+11.9%

Beta

0.61

defensive

Pros and cons

Auto-derived from ratios · not a buy/sell recommendation

PROS · 3

+Trading at -60.3% vs sector median P/EP/E 7.3 vs Financial Services median 18.5 — relative value on earnings
+Strong operating margin (29.4%)Meaningful pricing power or cost discipline — above many Indian companies
+3-year profit CAGR of 68.5%Consistently compounding earnings — the Buffett playbook

CONS · 0

No material concerns surface from the ratios alone — still layer qualitative research.

Sector-relative context

Financial Services · 58 peers

P/E (TTM)

This stock

7.34

Sector median

18.51

Rank 6/58 (91th %ile)

ROE

This stock

12.7%

Sector median

13.6%

Rank 29/58 (52th %ile)

P/B

This stock

0.88

Sector median

2.13

Rank 4/58 (95th %ile)

Quality score · Piotroski F-score

7 / 8

Strong quality — passes most F-score checks

✓Profitable (positive net income)· Most basic check — company makes money
✓Positive return on assets· Assets generate returns
✓Positive operating cash flow· Profits are backed by real cash, not accruals
✓Operating CF exceeds net profit· Healthy cash conversion — no aggressive revenue recognition
✓Long-term debt decreased YoY· Deleveraging — lower refinancing risk
✓ROA improved YoY· Getting more productive with the asset base
—Operating margin expanded YoY· Pricing power or cost discipline
✗

Analyst consensus

17 analysts · HOLD

Target mean

₹126.65

Target high

₹150.00

Target low

₹88.00

Upside vs today

+11.3%

Street consensus target is +11.3% vs current price. Consensus is a lagging sentiment read, not a forecast.

Company + balance sheet snapshot

Industry

Banks - Regional

Employees

58,329

Shares out

1,149.3

Revenue (TTM)

₹51,307 Cr

Total debt

₹6,316 Cr

Cash

₹2,407 Cr

Net debt

₹3,910 Cr

Quarterly results

Last 5 quarters · ₹ Cr (Screener.in-grade depth)

Metric	2024-Q3	2024-Q4	2025-Q1	2025-Q2	2025-Q4
Revenue	15,321	14,549	15,667	16,171	15,738
Interest	19,790	20,738	21,640	21,828	22,164
PBT	6,729	7,055	6,481	6,973	6,440
Tax %	34.1%	34.1%

Annual P&L

Last 4 years · ₹ Cr · all line items

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Revenue	41,154	47,092	55,261	59,761
Interest	46,823	51,817	68,534	80,704
Depreciation	896	905	906	958
PBT	4,826	5,151	14,160	26,015
Tax %

Peer	Last close	1Y change	Mcap ₹Cr	P/E	P/B	ROE	D/E	Rev YoY
PNBTHIS Punjab National Bank	₹114.48	+11.9%	1,30,742	7.3	0.88	12.7%	—	+15.2%
HDFCBANK HDFC Bank Limited	₹799.9	-58.5%	12,24,457	17.8	2.17	13.8%	—	-1.8%
SBIN State Bank of India	₹1,080.25	+32.3%	10,22,614	12.1	1.73	14.3%	—	+14.5%
ICICIBANK ICICI Bank Limited	₹1,346.8	-4.5%	9,71,609	18.5	2.78	16.4%	—	+66.9%
BAJFINANCE Bajaj Finance Limited	₹908.25	-90.2%	5,70,505	31.7	5.52	17.4%	3.10	+6.4%
AXISBANK Axis Bank Limited	₹1,359.1	+11.1%	4,21,100	16.1	2.03	13.6%	—	+5.7%
KOTAKBANK Kotak Mahindra Bank Limited	₹383.6	-82.9%	3,77,170	20.1	2.24	11.2%	—	+24.2%
BAJAJFINSV Bajaj Finserv Limited	₹1,838.9	-12.6%	2,92,438	30.5	3.81	12.5%	2.38	+24.8%
SHRIRAMFIN Shriram Finance Limited	₹1,036.95	+47.5%	2,45,891	21.5	3.24	15.1%	2.79	+21.4%

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Research tool · not investment advice.

Axel Markets is an information + analytics product. We are not a SEBI-registered Research Analyst (RA) or Investment Adviser (IA). Nothing on this page is a buy, sell, or hold recommendation. Past performance is not indicative of future returns. Verify all data against the authoritative source (NSE, BSE, AMFI, SEBI, company RHP / factsheet) before acting. Daily OHLCV sourced primarily from our NSE bhavcopy ingest (public sec_bhavdata_full CSV), with Stooq as a fallback for historical gaps. Split + bonus adjusted. Excludes dividends. Not a recommendation. Past performance does not predict future returns. For authoritative live quotes see NSE / BSE directly.

Quarter	EPS estimate	EPS actual	Surprise %
-1q	4.27	4.44	+3.9%
-2q	3.69	4.27	+15.6%
-3q	3.73	1.46	-60.8%
-4q	3.82	3.97	+4.0%

Date	Amount
2025-06-20	₹2.90
2024-06-21	₹1.50
2023-06-23	₹0.65
2022-06-22	₹0.64

Metric	2022-FY	2023-FY	2024-FY	2025-FY
Equity capital	2,202	2,202	2,202	2,299
Reserves	2,539	3,280	3,972	5,696
Borrowings	59,372	70,149	72,586	71,999
Total liabilities	13,39,301	14,93,649	15,98,636	18,57,544
Fixed assets	10,400	11,885	12,142	12,724
Investments	3,85,016	4,12,272	4,40,550	5,18,238
Total assets	13,39,301	14,93,649	15,98,636	18,57,544

Metric	2022-FY	2023-FY	2024-FY	2025-FY
CF Operating	20,032	22,592	-27,939	22,075
CF Investing	-1,204	-732	-1,506	-1,578
CF Financing	2,032	1,275	3,518	-1,138
Net cash flow	20,859	23,135	-25,928	19,359
Free cash flow	19,496	22,040	-29,114	20,474

Metric	2025-FY	2024-FY	2023-FY	2022-FY
Net margin %	30.9%	16.5%	7.1%	9.4%
ROE %	260.9%	156.3%	65.5%	81.4%
ROCE %	134.4%	107.1%	81.5%	80.6%
Debt / Equity	9.01	11.76	12.80	12.52
Dividend payout %	9%	8%	21%	—
Interest coverage	1.3×	1.2×	1.1×	1.1×
Revenue growth YoY	+8.1%	+17.3%	+14.4%	—
Profit growth YoY	+102.9%	+172.0%	-13.3%	—

PNBPunjab National Bank

Price chart · 1M–10Y · daily-close

Stock scorecard

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

SWOT analysis

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Peer comparison · Financial Services

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Recent news

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Technical snapshot

Earnings history + surprises

Dividends + splits history

Stock scorecard

SWOT analysis

Recent news

DVM composite · Durability · Valuation · Momentum

Valuation positioning

Monthly seasonality

Monthly return distribution

Fundamentals

Pros and cons

Sector-relative context

Quality score · Piotroski F-score

Analyst consensus

Company + balance sheet snapshot

Quarterly results

Annual P&L

Balance sheet

Cash flow statement

Ratios

Peer comparison · Financial Services