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    Financial - Capital Markets
PNB Gilts Ltd.

PNB Gilts Ltd.

PNBGILTS.BO
PNB Gilts Ltd.IN flagBombay Stock Exchange
87.08
INR
+7.87
- -
15.68BMarket Cap
PNB Gilts Ltd.
PNBGILTS.BO
(Bombay Stock Exchange)

Recent

price

87.08

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
3.52
5.73
2.06
15.79
19.21
22.71
19.07
27.79
22.35
24.13
46.27
59.07
46.83
52.8
76.94
93.14
93.14
Revenue per Share
2.04
1.7
1.17
3.4
3.41
4.9
1.92
9.29
0.08
2.94
10.35
25.23
9.21
-4.29
3.86
12.95
18.85
Basic EPS, GAAP
45.48
-11.44
-71.8
-38.68
-5.26
-20.31
-60.43
67.38
-44.45
-213.53
-216.61
137.85
-253.56
-258.47
-159.95
-11
- -
Free Cash Flow per Basic Share
- -
- -
1.05
0.87
0.88
1.05
1.81
1.32
3.01
1.21
1.69
10
3
5
- -
1
- -
Dividend per Share
7.5
7.5
10.87
12.09
15.61
17.1
17.11
23.92
20.39
21.51
28.04
38.21
42.53
33.23
36.38
45.73
- -
Book Value per Share
31.14
31.66
32.06
34.56
36.95
40.05
40.65
50.54
47.61
49.3
57.91
73.11
79.28
69.34
73.91
85.87
- -
Tangible Book Value per Share
180
180
180
180
180
180
180
180
180
180
180
180
180
180
180
180
180
Basic Weighted Avg Shares
633
1,032
370
2,844
3,458
4,088
3,432
5,003
4,023
4,344
8,329
10,633
8,430
9,504
13,835
16,760
16,788
Sales/Revenue/Turnover
110.87
98.64
283.96
97.54
96.41
96.12
95.37
96.5
82.5
108.19
100.98
95.1
83.49
88.31
102.08
96.71
100.82
Operating Margin (%)
5
9
9
7
6
9
5
3
5
4
14
19
12
14
154
34
32
Depreciation Expense
367
306
211
612
614
883
345
1,672
14
529
1,864
4,541
1,657
-772
694
2,330
3,397
Net Income, GAAP
34.49
30.57
28.98
31
32.33
33.41
32.98
34.84
- -
36.33
25.4
26.08
21.15
- -
29.76
25.06
25.03
Effective Tax Rate (%)
57.94
29.63
56.86
21.53
17.75
21.59
10.05
33.41
0.35
12.17
22.37
42.71
19.66
-8.13
5.02
13.9
20.23
Profit Margin (%)
- -
- -
- -
4,277
-429
3,794
786
9,046
8,281
-79,518
9,925
12,428
-8,340
-32,528
2,462
14,470
- -
Working Capital
7,469
8,546
- -
- -
- -
- -
- -
- -
- -
- -
6
3
10
44
41
25
- -
LT Debt
5,606
5,723
5,776
6,231
6,655
7,210
7,317
9,099
8,571
8,877
10,425
13,164
14,273
12,600
13,298
15,452
- -
Total Equity
2.7
3.94
2.95
5.86
5.52
5.81
4.29
6.24
- -
4.17
5.62
6.12
4.08
- -
4.48
5.1
- -
Return on Invested Capital (%)
2.85
2.24
0.99
6.67
6.11
6.37
4.67
6.85
- -
4.64
5.39
6.42
4.4
- -
4.95
5.26
8.88
Return on Capital (%)
27.19
22.65
12.74
29.64
24.61
29.98
11.2
45.27
0.35
14.02
41.79
76.16
22.8
-11.32
11.08
31.55
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
223,815
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
25
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
180
- -
Market Capitalization
19,560
14,509
17,930

Working Capital

FRC

•

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
245,988
- -
Cash, Cash Equivalents & STI
- -
231,343
- -
Accounts Receivable, Net
- -
3,839
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
231,518
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
223,815
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
8.58%
8.94%
16.2%
Free Cash Flow
-37.51%
-115.39%
-93.12%
Net Income, GAAP
409.39%
-4.12%
235.73%
Sales/Revenue/Turnover
19.62%
17.28%
21.14%
Total Cash Common Dividend
- -
- -
-80%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4,429
2,939
3,656
2,810
13,835
2025
4,403
5,008
3,162
2,986
16,760
2026
5,633
4,098
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3.22
-2.28
-0.86
- -
3.86
2025
2.97
6.37
-0.56
- -
12.95
2026
8.89
2.99
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
1
2026
- -
- -
- -
- -
- -
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Business
PNB Gilts Ltd. PNB Gilts Ltd. operates as a primary dealer in government securities and a non-banking financial company in India, specializing in the fixed income market; it underwrites and trades government securities, treasury bills, cash management bills, state development loans, corporate bonds, interest rate swaps, certificates of deposit, and commercial papers; it also provides gilts accounts, debt capital market services including bond and debenture issuances, retailing of fixed income products, and customized debt solutions such as syndication for mid- and large-sized issuers across plain vanilla and structured bonds. A wholly owned subsidiary of Punjab National Bank Punjab National Bank, the company serves a diverse client base encompassing provident funds trusts, regional rural banks, cooperative banks, corporates, educational institutions, and individuals, with operations centered in India and offices in major cities including New Delhi, Mumbai, Bengaluru, Ahmedabad, Chennai, and Kolkata. Founded in 1996 and headquartered in New Delhi, PNB Gilts Ltd. maintains a dominant market share in trading turnover and pioneered government securities retailing, contributing to deeper domestic fixed income markets with net owned funds of Rs 1,517.41 crore as of fiscal 2024-25. Recent developments include the appointment of Pareed Sunil as Managing Director and CEO following regulatory approval, recommendation of a final dividend of Rs 1 per share (10%) for fiscal 2024-25 subject to shareholder approval at the 29th Annual General Meeting on September 17, 2025, reaffirmation of credit ratings, waiver of a penalty imposed by the Asset Reconstruction Company (India) Ltd., and financial results showing profit after tax of Rs 233.03 crore for fiscal 2024-25 alongside turnover of Rs 7,40,713 crore.