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.[1]
Market PositionThe bank isamong the top 3 Public Sector Banks in Indiaby way of business size, with a strong presence in North and Central India.[1]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | SBI | 1007.15 | 11.83 | 929798.54 | 1.58 | 21860.59 | -4.25 | 128040.50 | 5.78 | 6.47 | 505419.84 | 46.36 | 78596.36 | 18941.27 | 1.63 | 1.15 | 11.08 |
| 2. | Bank of Baroda | 308.25 | 8.28 | 159328.89 | 2.71 | 5180.63 | -4.14 | 33318.24 | 4.44 | 6.29 | 131574.32 | 63.64 | 19236.14 | 5133.56 | 1.00 | 1.18 | 10.53 |
| 3. | Punjab Natl.Bank | 125.68 | 9.23 | 144408.78 | 2.31 | 4903.73 | 13.95 | 31871.53 | 6.68 | 6.30 | 127164.76 | 73.33 | 15653.94 | 4903.73 | 1.06 | 0.98 | 12.53 |
| 4. | Canara Bank | 152.96 | 7.25 | 138771.73 | 2.62 | 4896.43 | 15.81 | 32071.97 | 6.26 | 6.79 | 125841.25 | 60.85 | 19140.98 | 4850.03 | 1.20 | 1.08 | 14.05 |
| 5. | Union Bank (I) | 166.33 | 6.87 | 127038.75 | 2.86 | 4425.95 | -6.84 | 26664.81 | -0.82 | 6.72 | 109143.51 | 67.32 | 18488.14 | 4425.95 | 1.01 | 1.24 | 10.38 |
| 6. | Indian Bank | 864.60 | 9.88 | 116444.99 | 1.88 | 3108.63 | 11.01 | 16628.28 | 8.19 | 6.38 | 64543.17 | 68.72 | 11785.54 | 3107.97 | 1.51 | 1.35 | 10.65 |
| 7. | I O B | 36.61 | 16.53 | 70459.92 | 0.00 | 1226.42 | 57.81 | 7848.79 | 14.57 | 5.95 | 29979.65 | 61.94 | 4262.19 | 1226.42 | 2.02 | 0.89 | 11.07 |
| – | Median: 12 Co. | 138.59 | 8.75 | 93452.46 | 2.09 | 2842.11 | 12.48 | 17574.88 | 6.62 | 6.23 | 69163.76 | 64.02 | 10902.75 | 2842.33 | 1.17 | 1.03 | 10.97 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 11,515 | 9,375 | 7,538 | 10,935 | 8,817 | 9,088 | 10,883 | 9,783 | 9,057 | 10,457 | 10,179 | 8,523 | 8,227 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 3,338 | 2,674 | 3,412 | 3,434 | 3,610 | 5,268 | 3,420 | 4,248 | 4,716 | 2,847 | 3,028 | 4,572 | 4,342 |
Profit before tax | 1,003 | 3,592 | 6,906 | 2,003 | 5,269 | 6,758 | 2,036 | 4,828 | 6,416 | 661 | 2,772 | 6,565 | 6,584 |
Tax % | 37% | 38% | 35% | 37% | 38% | 75% | 43% | 38% | 29% | 38% | 37% | 34% | 26% |
Net Profit | 629 | 2,223 | 4,508 | 1,255 | 3,252 | 1,675 | 1,159 | 3,010 | 4,567 | 411 | 1,756 | 4,303 | 4,904 |
EPS in Rs | 0.57 | 2.02 | 3.92 | 1.14 | 2.95 | 1.46 | 1.05 | 2.73 | 3.97 | 0.37 | 1.59 | 3.74 | 4.27 |
Standalone Figures in ₹ Crores / Yearly
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | – | – | – | – | – | – | – | – | – | – | – | – | – |
Expenses | 15,680 | 18,119 | 26,654 | 21,508 | 42,802 | 39,301 | 25,365 | 38,014 | 35,809 | 41,449 | 39,377 | 32,988 | 33,910 |
Operating Profit | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Income | 4,577 | 5,891 | 6,000 | 8,951 | 8,881 | 7,377 | 9,274 | 11,922 | 12,320 | 12,143 | 13,384 | 16,309 | 17,738 |
Interest | 27,077 | 29,760 | 32,113 | 32,283 | 33,073 | 34,154 | 36,362 | 50,273 | 46,185 | 50,652 | 66,819 | 78,979 | 84,329 |
Depreciation | 352 | 370 | 396 | 425 | 576 | 578 | 608 | 975 | 889 | 897 | 895 | 948 | 0 |
Profit before tax | 4,691 | 3,957 | -5,738 | 2,012 | -19,575 | -15,346 | 739 | 3,479 | 4,316 | 4,288 | 13,194 | 25,156 | 26,664 |
Net Profit | 3,343 | 3,062 | -3,974 | 1,325 | -12,283 | -9,975 | 336 | 2,022 | 3,457 | 2,507 | 8,245 | 16,630 | 15,654 |
EPS in Rs | 18.46 | 16.51 | -20.24 | 6.23 | -44.49 | -21.67 | 0.50 | 1.93 | 3.14 | 2.28 | 7.49 | 14.47 | 13.62 |
Dividend Payout % | 11% | 20% | 0% | 0% | 0% | 0% | 0% | 0% | 20% | 29% | 20% | 20% | – |
Standalone figures in ₹ 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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 362 | 371 | 393 | 426 | 552 | 921 | 1,348 | 2,096 | 2,202 | 2,202 | 2,202 | 2,299 | 2,299 |
Reserves | 35,533 | 38,709 | 37,917 | 41,672 | 40,522 | 43,866 | 61,010 | 88,842 | 93,285 | 97,653 | 104,274 | 125,064 | 133,503 |
Borrowings | – | – | – | – | – | – | – | – | – | – | – | – | – |
Other Liabilities | 15,093 | 17,205 | 16,274 | 15,766 | 21,679 | 14,806 | 14,237 | 20,523 | 27,418 | 29,521 | 35,216 | 40,408 | 39,233 |
Total Liabilities | 550,420 | 603,334 | 667,390 | 720,331 | 765,830 | 774,949 | 830,666 | 1,260,633 | 1,314,805 | 1,461,831 | 1,561,835 | 1,818,171 | 1,876,801 |
Fixed Assets | 3,420 | 3,551 | 5,223 | 6,273 | 6,349 | 6,225 | 7,239 | 11,021 | 10,674 | 12,051 | 12,319 | 13,053 | 15,583 |
Gross Block | 6,240.90 | 6,677.68 | 8,567.62 | 10,027.45 | 10,625.12 | 10,887.02 | 12,304.85 | 20,335.67 | 20,877.00 | 23,151.01 | 24,313.17 | 23,243.76 | – |
Accumulated Depreciation | 2,821.16 | 3,126.20 | 3,344.89 | 3,754.20 | 4,275.80 | 4,662.17 | 5,065.78 | 9,314.78 | 10,203.38 | 11,099.94 | 11,994.40 | 10,190.37 | – |
CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Investments | 143,786 | 149,877 | 157,846 | 186,725 | 200,306 | 202,128 | 240,466 | 392,983 | 372,168 | 395,997 | 420,318 | 497,311 | 501,961 |
Other Assets | 403,215 | 449,905 | 504,322 | 527,332 | 559,175 | 566,596 | 582,961 | 856,628 | 931,964 | 1,053,784 | 1,129,198 | 1,307,806 | 1,359,257 |
Total Assets | 550,420 | 603,334 | 667,390 | 720,331 | 765,830 | 774,949 | 830,666 | 1,260,633 | 1,314,805 | 1,461,831 | 1,561,835 | 1,818,171 | 1,876,801 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 17,729 | 5,619 | 17,045 | 12,497 | 1,012 | -30,893 | -12,613 | 30,903 | 20,464 | 21,780 | -27,895 | 22,272 |
Cash from Investing Activity | -634 | -849 | -783 | -527 | -1,288 | -260 | -239 | -839 | -1,207 | -682 | -1,539 | -1,534 |
Cash from Financing Activity | 988 | 5,946 | 856 | 739 | 7,407 | 10,979 | 13,557 | 5,293 | 2,041 | 1,364 | 3,430 | -1,123 |
Net Cash Flow | 18,083 | 10,716 | 17,119 | 12,709 | 7,130 | -20,174 | 705 | 35,357 | 21,297 | 22,462 | -26,004 | 19,615 |
Standalone Figures in ₹ Crores / Yearly
| 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 | – | – | – | – | – | – | – | – | – | – | – | – |
Inventory Days | – | – | – | – | – | – | – | – | – | – | – | – |
Days Payable | – | – | – | – | – | – | – | – | – | – | – | – |
Cash Conversion Cycle | – | – | – | – | – | – | – | – | – | – | – | – |
Working Capital Days | – | – | – | – | – | – | – | – | – | – | – | – |
ROCE % | – | – | – | – | – | – | – | – | – | – | – | – |
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Stock Analysis
Punjab National Bank (PNB) is a leading public sector bank in India, offering a wide range of banking and financial services. It is the second-largest PSU bank in the country, with a significant presence across India.
The bank has focused on digital initiatives, growing its digital transactions and user base. It also has a strong credit pipeline and advances in the priority sector, contributing to sustained operational momentum. Previous quarters have shown growth in digital transactions and priority sector advances.
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