Punjab National Bank (PNB) AI Stock Analysis

• Market Cap: ₹1.41T
• Dividend Yield: 2.4%
• Average Volume (3M): 998.19K
• Price to Earnings (P/E): 8.3
• Beta (1Y): 1.38
• Revenue Growth: 12.10%
• EPS Growth: 12.93%
• Country: IN
• Employees: 102,349
• Sector: Financial
• Sector Strength: 70
• Industry: Banks - Regional
• EPS (TTM): 4.30
• Shares Outstanding: 11,492,943,000
• 10 Day Avg. Volume: 1,527,230
• 30 Day Avg. Volume: 998,186
• PEG Ratio: 0.06
• Price to Book (P/B): 0.81
• Price to Sales (P/S): 1.85
• P/FCF Ratio: 5.29
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹136.00
• Price Target Upside: 10.70% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 75 Outperform
• Price Target: ₹132.00 ▲(7.45% Upside)

Punjab National Bank's stock is rated positively due to strong financial performance, particularly in revenue growth and profitability. The technical analysis supports a bullish outlook with strong market momentum. Additionally, the stock's valuation suggests it is undervalued, offering potential for price appreciation and a solid dividend yield. These factors collectively contribute to a favorable investment profile.

Positive Factors

Revenue Growth

The bank's strong revenue growth of 12.1% indicates a robust market position and effective strategies in expanding its customer base and services.

Cash Flow Management

Improved cash flow management enhances operational efficiency and supports sustainable growth by ensuring liquidity for future investments.

Balance Sheet Stability

A strong balance sheet with a solid equity base and prudent debt management ensures financial stability and resilience against economic fluctuations.

Negative Factors

EBIT and EBITDA Margins

Lower EBIT and EBITDA margins compared to industry standards may indicate inefficiencies, potentially affecting profitability and competitive positioning.

Asset Utilization Efficiency

Suboptimal asset utilization efficiency could limit the bank's ability to maximize returns on its assets, impacting overall financial performance.

Volatility in Cash Flow

Historical volatility in cash flow may pose risks to financial stability, affecting the bank's ability to consistently fund operations and growth initiatives.

Punjab National Bank Business Overview & Revenue Model

Company Description

Punjab National Bank provides various banking and financial products and services in India. The company operates through Treasury, Corporate/Wholesale Banking, Retail Banking, and Other Banking Operations segments. It offers personal banking products and services, including saving fund accounts, current accounts, fixed deposit, and capital gain account and gold monetization schemes; housing, vehicle, education, personal, and mortgage loans; and cards. The company also provides various micro, small, and medium enterprises schemes; banking products for government customers; agricultural banking services; corporate banking products and services consisting of loans against future lease rentals, working capital financing, and term loans; EXIM finance and cash management services, as well as gold card schemes for exporters; and international banking products and services. In addition, it offers insurance services, such as life, fire, motor, marine, theft/burglary, fidelity guarantee, personal accident, health, travel, house hold goods, etc.; and depository, mutual fund, merchant banking, and application supported by blocked amount services. Further, the company provides mobile banking, SMS banking, missed call, e-statement, ATM, cash deposit machine, passbook updating machine, and electronic cheque deposit machine services, as well as debit cards. As of March 31, 2022, it operated a network of 10,098 branches in India; and 2 branches comprising 1 in Hong Kong and 1 in Dubai, as well as 2 representative offices in Bangladesh and Myanmar. The company was founded in 1895 and is headquartered in New Delhi, India.

How the Company Makes Money

Punjab National Bank primarily generates revenue through the interest earned on loans and advances provided to customers, which is its main revenue stream. The bank offers various types of loans, including personal loans, home loans, vehicle loans, and business loans, charging interest on these products. Additionally, PNB earns income from service fees and commissions on various banking services, such as account maintenance fees, transaction charges, and investment services. The bank also generates revenue through the sale of third-party financial products and mutual funds. Furthermore, investment income from securities and other financial instruments contributes to PNB's earnings. Partnerships with fintech companies and collaborations with other financial institutions enhance its product offerings and customer reach, further supporting its revenue generation efforts.

Punjab National Bank Financial Statement Overview

Summary

Punjab National Bank demonstrates strong financial performance with notable improvements in revenue and profitability. The balance sheet is stable, supported by a solid equity base, while cash flow management has seen positive trends recently. Continued focus on improving margins and maintaining cash flow stability will bolster long-term growth.

Income Statement

The income statement shows strong revenue growth with a significant increase from the previous year. Gross profit margin remains high, indicating effective cost management. The net profit margin has improved, showcasing enhanced profitability. However, there's a need for improvement in EBIT and EBITDA margins compared to industry standards.

Balance Sheet

The balance sheet reflects a strong equity position and a manageable debt-to-equity ratio, which indicates stability and prudent financial management. However, the equity ratio suggests room for improving asset utilization efficiency. The bank's growing equity base is a positive indicator of financial health.

Cash Flow

Cash flow analysis reveals a substantial positive shift in free cash flow, indicating improved operational efficiency and cash generation capabilities. The operating cash flow to net income ratio suggests effective conversion of income to cash, though past periods showed volatility.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.46T	1.40T	1.24T	989.09B	879.77B	944.04B
Gross Profit	617.07B	597.61B	552.61B	470.92B	411.54B	436.00B
EBITDA	272.38B	269.73B	150.66B	60.56B	57.22B	53.07B
Net Income	166.24B	184.80B	91.07B	33.48B	38.61B	25.62B
Balance Sheet
Total Assets	18.74T	18.58T	15.99T	14.94T	13.39T	12.80T
Cash, Cash Equivalents and Short-Term Investments	1.41T	1.51T	1.31T	1.57T	1.34T	1.13T
Total Debt	934.72B	2.05T	725.86B	701.49B	593.72B	522.98B
Total Liabilities	17.35T	17.24T	14.88T	13.90T	12.41T	11.87T
Stockholders Equity	1.38T	1.33T	1.10T	1.03T	975.82B	925.34B
Cash Flow
Free Cash Flow	0.00	204.74B	-291.14B	220.40B	193.96B	4.53B
Operating Cash Flow	0.00	220.75B	-279.39B	225.92B	199.32B	12.40B
Investing Cash Flow	0.00	-15.78B	-15.06B	-7.32B	-12.04B	-7.87B
Financing Cash Flow	0.00	-11.38B	35.18B	1.37T	425.49B	54.15B

Punjab National Bank Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 122.85
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PNB, the sentiment is Positive. The current price of 122.85 is above the 20-day moving average (MA) of 121.64, above the 50-day MA of 121.83, and above the 200-day MA of 109.20, indicating a bullish trend. The MACD of 1.06 indicates Negative momentum. The RSI at 52.85 is Neutral, neither overbought nor oversold. The STOCH value of 57.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:PNB.

Punjab National Bank Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UNIONBANK	81 Outperform	₹1.24T	6.70	―	3.15%	3.86%	19.14%
BANKBARODA	81 Outperform	₹1.55T	8.08	―	2.86%	4.40%	-3.84%
IDBI	76 Outperform	₹1.11T	11.98	―	2.08%	11.31%	37.17%
PNB	75 Outperform	₹1.41T	8.29	―	2.40%	12.10%	12.93%
CANBK	75 Outperform	₹1.37T	7.12	―	2.66%	8.89%	19.79%
INDIANB	74 Outperform	₹1.12T	9.95	―	2.07%	9.74%	12.56%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%

Punjab National Bank Corporate Events

CRISIL Reaffirms Punjab National Bank’s Ratings with Stable Outlook

Punjab National Bank announced that CRISIL Ratings Limited has reaffirmed its ratings on the bank’s various debt instruments, maintaining a stable outlook. The reaffirmation reflects the bank’s strong government backing, established market position, and adequate capitalization, although it faces challenges with asset quality and profitability. The ratings withdrawal for redeemed bonds aligns with CRISIL’s policy and highlights PNB’s ongoing financial adjustments.

India Ratings Affirms Punjab National Bank’s Credit Ratings

India Ratings and Research has affirmed the credit ratings of Punjab National Bank and its debt instruments, highlighting the bank’s systemic importance and the likelihood of continued government support. The affirmation reflects PNB’s stable operational metrics, strong capital buffers, and improving internal accruals, despite the need for provisions under expected credit loss norms. This rating action underscores PNB’s robust market position and its strategic significance in the Indian banking landscape.

Punjab National Bank’s Credit Ratings Reaffirmed by CARE Ratings

Punjab National Bank announced that CARE Ratings Ltd. has reaffirmed its credit ratings for various financial instruments, maintaining stable outlooks for its infrastructure bonds, Basel III Tier I and Tier II bonds, and certificates of deposit. This reaffirmation reflects the bank’s strong financial position and stability, ensuring confidence among stakeholders and reinforcing its market position.

Punjab National Bank Adjusts Repo Linked Lending Rate

Punjab National Bank announced a revision in its Repo Linked Lending Rate (RLLR) following a decrease in the Repo rate by the Reserve Bank of India. The RLLR has been adjusted from 8.35% to 8.10%, effective December 6, 2025, while the Marginal Cost of Lending Rate (MCLR) and Base Rate remain unchanged. This change reflects the bank’s response to monetary policy adjustments, potentially impacting loan affordability and financial planning for its customers.

Punjab National Bank Announces Key Senior Management Changes

Punjab National Bank has announced changes in its senior management, effective from December 1, 2025. Shri Pratap Keshari Mallick has been appointed as the Group Chief Risk Officer, while Shri Surindar Pal Singh has been elevated to Chief General Manager of the BA & RM Division. Additionally, Shri Vinish Kumar Chawla has been promoted to Zonal Manager in Ahmedabad. These changes are part of the bank’s strategic efforts to strengthen its leadership team and enhance operational efficiency, potentially impacting its market positioning and stakeholder relations.

Punjab National Bank Maintains Interest Rates Unchanged

Punjab National Bank has announced that its Marginal Cost of Funds Based Lending Rates (MCLR) and Repo linked Lending Rate (RLLR) will remain unchanged as of December 1, 2025. This decision indicates stability in the bank’s interest rate policy, which may impact borrowers and stakeholders by maintaining current lending costs.

Punjab National Bank Appoints New Executive Director

Punjab National Bank has announced the appointment of Mr. Amit Kumar Srivastava as Executive Director, effective November 24, 2025. Mr. Srivastava brings over 31 years of diversified banking experience, having previously served as the Group Chief Risk Officer at the bank. His appointment is expected to strengthen the bank’s leadership team and enhance its strategic operations.

Punjab National Bank Announces Senior Management Changes

Punjab National Bank has announced a change in its senior management, effective from November 24, 2025. Amresh Prasad, previously the Chief General Manager of the Transaction Monitoring Division at the Head Office, will now serve as the Executive Director at Union Bank of India. Sunil Kumar Chugh, who was the Executive Director at Canara Bank, is also part of the management changes. These changes are part of the bank’s strategic efforts to enhance its leadership structure, potentially impacting its operational efficiency and market positioning.

Punjab National Bank Transfers Unclaimed Shares to IEPF

Punjab National Bank has announced the transfer of certain equity shares to the Investor Education & Protection Fund (IEPF). This move is part of regulatory compliance and impacts shareholders whose shares have remained unclaimed or unpaid for a specified period. The transfer aims to protect investor interests and ensure proper management of unclaimed dividends and shares.

Punjab National Bank Reduces Stake in Canara HSBC Life Insurance

Punjab National Bank has announced the divestment of its stake in Canara HSBC Life Insurance Company Limited, reducing its holding from 23% to 13% through an Offer for Sale in an Initial Public Offer. This strategic move is part of the bank’s efforts to optimize its investment portfolio and could potentially impact its financial positioning by unlocking capital, which might be used for other strategic initiatives or to strengthen its core banking operations.

Punjab National Bank Releases Earnings Call Recording for Q2 2025

Punjab National Bank has announced the availability of an audio/video recording of its recent earnings call with analysts and investors, discussing the financial results for the quarter and half-year ending September 30, 2025. This announcement is part of the bank’s compliance with SEBI regulations, reflecting its commitment to transparency and communication with stakeholders.