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BSE: 532366 | NSE: PNBGILTS | Finance - NBFC | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that PNB Gilts Ltd is a average quality company.
The key valuation ratios of PNB Gilts Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of PNB Gilts Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Income (₹ Cr.) | 410 | 366 | 503 | 402 | 521 | 926 | 1,052 | 1,051 | 1,230 | 1,576 | 1,602 | |
| YoY Gr. Rt. % | - | -10.6% | 37.3% | -20.1% | 29.6% | 77.6% | 13.6% | -0.1% | 17% | 28.2% | - | |
| Adj EPS (₹ ) | 4.9 | 1.9 | 9.3 | 0.1 | 2.9 | 10.4 | 25.2 | 9.2 | -4.3 | 3.9 | 12.3 | |
| YoY Gr. Rt. % | - | -60.8% | 383.9% | -99.1% | 3575% | 252% | 143.8% | -63.5% | -146.6% | NA | - | |
| BVPS (₹ ) | 40.1 | 40.7 | 49.9 | 47.6 | 49.3 | 57.9 | 73.1 | 79.3 | 70 | 73.9 | 82.2 | |
| YoY Gr. Rt. % | - | 1.5% | 22.8% | -4.7% | 3.6% | 17.5% | 26.3% | 8.4% | -11.7% | 5.5% | - | |
| To view Net Profit/Total Funds (%) Colour Rating Guide click here ⓘ | ||||||||||||
| Net Profit/Total Funds (%) | 1.9 | 0.7 | 3.2 | 0 | 0.7 | 1.6 | 3.4 | 1.2 | -0.4 | 0.3 | 0 | |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Interest Income | 16.2% | 24.8% | 14.4% | 28.2% | ||||||||
| Adj EPS | -2.6% | 5.6% | -46.5% | NA | ||||||||
| BVPS | 7% | 8.4% | 0.3% | 5.5% | ||||||||
| Share Price | 16.9% | 32.1% | 20.6% | 42% | ||||||||
| RATIOS \ YEARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Quality Ratio | To view Asset Quality Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Net NPA to Net Advances (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Capitalization Ratio | To view Capitalization Ratio Colour Rating Guide click here ⓘ | |||||||||||
| Capital Adequacy Ratio (%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | |
| Margins | ||||||||||||
| Net Profit Margin (%) | 21.5 | 9.4 | 33.2 | 0.4 | 10.1 | 20.1 | 43.2 | 15.8 | -6.3 | 4.4 | 13.8 | |
| Performance Ratios | To view Performance Ratios Colour Rating Guide click here ⓘ | |||||||||||
| Return on Equity (%) | 12.7 | 4.8 | 20.5 | 0.2 | 6.1 | 19.3 | 38.5 | 12.1 | -5.8 | 5.4 | 14.9 | |
Return on Equity has increased versus last 3 years average to 15.70%
Total Income has increased 14.43 CAGR in last 3 years
Total income growth is good in last 4 quarters
Net Profit has declined -46.52 CAGR in last 3 years
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 12.3 | - |
| TTM Sales (₹ Cr.) | 1,602 | - |
| BVPS (₹.) ⓘ | 82.2 | - |
| Reserves (₹ Cr.) ⓘ | 1,300 | - |
| P/BV ⓘ | 1.45 | - |
| PE ⓘ | 9.74 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 83.65 / 149.25 |
| All Time Low / High (₹) | 9.07 / 149.25 |
| Market Cap (₹ Cr.) | 2,151 |
| Equity (₹ Cr.) | 180 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 29.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income | 410 | 367 | 503 | 402 | 522 | 927 | 1,053 | 1,052 | 1,230 | 1,578 |
| Interest Income | 410 | 366 | 503 | 402 | 521 | 926 | 1,052 | 1,051 | 1,230 | 1,576 |
| Other Income ⓘ | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 |
| Expenditure ⓘ | 277 | 315 | 247 | 401 | 439 | 595 | 430 | 850 | 1,323 | 1,483 |
| Interest Expense ⓘ | 261 | 276 | 226 | 331 | 404 | 522 | 397 | 513 | 976 | 1,414 |
| Operating Expenses ⓘ | 14 | 14 | 15 | 16 | 19 | 29 | 31 | 36 | 37 | 63 |
| Provisions | 2 | 26 | 6 | 54 | 16 | 44 | 2 | 301 | 311 | 6 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | -81 | -9 | 8 | 8 | 4 |
| Profit Before Tax ⓘ | 133 | 51 | 257 | 1 | 83 | 250 | 614 | 210 | -85 | 99 |
| Taxes ⓘ | 44 | 17 | 89 | 0 | 30 | 63 | 160 | 44 | -8 | 29 |
| Profit After Tax | 88 | 34 | 167 | 1 | 53 | 186 | 454 | 166 | -77 | 69 |
| Adjusted EPS (₹) | 4.9 | 1.9 | 9.3 | 0.1 | 2.9 | 10.4 | 25.2 | 9.2 | -4.3 | 3.9 |
| Dividend Payout Ratio (%) | 31% | 57% | 27% | 1,272% | 48% | 29% | 40% | 54% | 0% | 26% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Equity Capital | 721 | 732 | 899 | 857 | 888 | 1,043 | 1,316 | 1,427 | 1,260 | 1,330 |
| Share Capital ⓘ | 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 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long Term Borrowings | -2 | 1 | 1 | -14 | -1 | 9 | 2 | -1 | -10 | -15 |
| Current Liabilities | 4,038 | 5,037 | 3,666 | 4,395 | 8,634 | 13,207 | 10,821 | 15,323 | 20,237 | 23,210 |
| Trade Payables | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 7 | 5 |
| Short term borrowings | 3,858 | 4,921 | 3,514 | 4,369 | 8,234 | 12,164 | 9,863 | 14,530 | 19,238 | 22,399 |
| Other Liabilities | -3,858 | -4,921 | -3,514 | -4,369 | -8,235 | -12,165 | -9,864 | -14,532 | -19,246 | -22,404 |
| Total Liabilities ⓘ | 4,757 | 5,769 | 4,565 | 5,239 | 9,521 | 14,258 | 12,140 | 16,749 | 21,487 | 24,525 |
Assets | ||||||||||
| Non Current Asset | 340 | 654 | 461 | 5,016 | 8,839 | 64 | 88 | 2,274 | 3,720 | 2,630 |
| Loan Asset | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non Current Asset ⓘ | 340 | 654 | 461 | 5,016 | 8,839 | 64 | 88 | 2,274 | 3,720 | 2,630 |
| Current Asset | 4,418 | 5,116 | 4,104 | 223 | 682 | 14,194 | 12,052 | 14,475 | 17,767 | 21,895 |
| Current Investment | 0 | 0 | 0 | 0 | 0 | 12,965 | 10,907 | 13,134 | 14,998 | 20,541 |
| Other Current Asset | 4,418 | 5,116 | 4,104 | 223 | 682 | 1,230 | 1,145 | 1,341 | 2,769 | 1,353 |
| Total Assets ⓘ | 4,757 | 5,769 | 4,565 | 5,239 | 9,521 | 14,258 | 12,140 | 16,749 | 21,487 | 24,525 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | -366 | -1,088 | 1,213 | -800 | -3,843 | -3,898 | 2,483 | -4,564 | -4,638 | -2,875 |
| Cash Flow From Investing Activity ⓘ | 368 | -313 | 197 | 0 | 0 | -1 | -1 | -1 | -14 | -1 |
| Cash Flow From Financing Activity ⓘ | 71 | 1,030 | -1,431 | 800 | 3,844 | 3,900 | -2,481 | 4,613 | 4,618 | 3,159 |
| Net Cash Flow ⓘ | 74 | -370 | -20 | 0 | 0 | 1 | 1 | 49 | -35 | 283 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Operational & Financial Ratios |
||||||||||
| EPS (₹) | 5 | 2 | 9 | 0 | 3 | 10 | 25 | 9 | -4 | 4 |
| DPS (₹) | 2 | 1 | 3 | 1 | 1 | 3 | 10 | 5 | 0 | 1 |
| BVPS (₹) | 40 | 41 | 50 | 48 | 49 | 58 | 73 | 79 | 70 | 74 |
Performance Ratios | ||||||||||
| ROA (%) | 1.9 | 0.7 | 3.2 | 0.0 | 0.7 | 1.6 | 3.4 | 1.2 | -0.4 | 0.3 |
| ROE (%) | 12.7 | 4.8 | 20.5 | 0.2 | 6.1 | 19.3 | 38.5 | 12.1 | -5.8 | 5.4 |
| ROCE (%) | 8.7 | 6.4 | 9.6 | 6.9 | 6.8 | 6.9 | 8.3 | 5.3 | 4.9 | 6.8 |
Valuation Parameters | ||||||||||
| Price/Book(x) | 0.7 | 0.6 | 1.1 | 0.7 | 0.6 | 0.4 | 0.7 | 0.8 | 0.8 | 1.5 |
In the year 1996 the Reserve Bank of India introduced the system of Primary Dealers with a view to strengthen the institutional infrastructure of government securities market. Six entities were granted licenses of which PNB Gilts was one. The company was established as a wholly owned subsidiary of Punjab National Bank with an initial paid up capital of Rs 50 crore, which is also the minimum capital requirement for a Primary Dealer.
RBI, New Delhi, granted PNB Gilts a certificate of registration vide its letter dated 10th February 1998, to carry on the business of a non-banking finance company. The company decided to expand its capital base & came with an IPO of Rs 3.5 crore shares at an offer price of Rs 30 per share aggregating Rs 105 crore in July 2000. This increased the paid up capital of the company to Rs 135.01 crore and reduced the holding of Punjab National Bank to 74.07%.
In February 2009 Punjab National Bank (PNB) decided to merge its primary dealership subsidiary PNB Gilts with self instead of selling the company,. Punjab National Bank was holding 74.07% stake in PNB Gilts.Punjab National Bank hopes to complete the merger of PNB Gilts with itself by March 2010 and expects net profit to grow 20-23% in the current fiscal.
Products and services offered by the company:
In addition to the above, it also offers advisory services to its clients to manage the government securities portfolio.
Achievements/ recognition:
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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