PNB Gilts Limited (PNBGILTS) AI Stock Analysis

• Market Cap: ₹13.65B
• Dividend Yield: 1.25%
• Average Volume (3M): 43.27K
• Price to Earnings (P/E): 6.8
• Beta (1Y): 1.59
• Revenue Growth: -10.05%
• EPS Growth: -18.64%
• Country: IN
• Employees: 52
• Sector: Financial
• Sector Strength: 70
• Industry: Financial - Capital Markets
• EPS (TTM): 3.00
• Shares Outstanding: 180,010,130
• 10 Day Avg. Volume: 44,866
• 30 Day Avg. Volume: 43,271
• PEG Ratio: 0.03
• Price to Book (P/B): 0.98
• Price to Sales (P/S): 0.98
• P/FCF Ratio: -7.68
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: ₹77.00 ▼(-2.17% Downside)
• Action: Reiterated Date: 04/01/26
• Date: Action: Reiterated 04/01/26

The score is primarily constrained by weaker financial quality (high leverage and negative operating/free cash flows despite strong operating margins) and a bearish technical backdrop (below all major moving averages with negative MACD). Low valuation (low P/E and modest dividend yield) provides meaningful support but does not fully offset the fundamental and trend risks.

Positive Factors

High operational margins

Sustained gross margins above 97% and robust EBIT/EBITDA margins reflect structural cost efficiency in treasury and distribution activities. That margin cushion supports resilience through trading cycles, funds core operations, and improves the firm’s ability to absorb temporary revenue shocks over the next 2–6 months.

Negative Factors

Very high leverage

Debt-to-equity peaking above 16 denotes material leverage reliance. That structural funding profile raises refinancing and interest-rate sensitivity, limits strategic flexibility, and elevates default or covenant risk if trading revenues slip, pressuring the business through economic or rate shocks.

PNB Gilts Limited Business Overview & Revenue Model

Company Description

PNB Gilts Ltd. operates as a primary dealer in government securities in India. The company is involved in underwriting government securities issuances; and trading of fixed income instruments, such as government securities, treasury bills, state d...

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PNB Gilts Ltd. operates as a primary dealer in government securities in India. The company is involved in underwriting government securities issuances; and trading of fixed income instruments, such as government securities, treasury bills, state d...

How the Company Makes Money

PNB Gilts Limited makes money primarily through activities connected to government securities (G-Secs) and related fixed-income markets. Key revenue streams typically include: (1) Trading income: profits (or losses) from buying and selling governm...

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PNB Gilts Limited makes money primarily through activities connected to government securities (G-Secs) and related fixed-income markets. Key revenue streams typically include: (1) Trading income: profits (or losses) from buying and selling governm...

PNB Gilts Limited Financial Statement Overview

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	14.82B	15.56B	13.83B	9.50B	8.43B	10.63B
Gross Profit	11.00B	15.23B	13.51B	9.28B	8.19B	10.43B
EBITDA	11.96B	16.27B	15.26B	8.89B	7.22B	10.11B
Net Income	1.80B	2.33B	694.11M	-772.22M	1.66B	4.54B
Balance Sheet
Total Assets	273.26B	247.03B	245.40B	214.97B	167.50B	121.40B
Cash, Cash Equivalents and Short-Term Investments	5.19B	231.34B	222.17B	150.13B	133.94B	110.69B
Total Debt	248.43B	223.84B	224.03B	384.81B	145.33B	197.28B
Total Liabilities	256.84B	231.57B	232.10B	202.37B	153.23B	108.23B
Stockholders Equity	16.42B	15.45B	13.30B	12.60B	14.27B	13.16B
Cash Flow
Free Cash Flow	-24.54B	-1.98B	-28.77B	-46.53B	-45.64B	24.81B
Operating Cash Flow	-24.53B	-1.97B	-28.75B	-46.38B	-45.64B	24.83B
Investing Cash Flow	-5.36M	-9.75M	-10.47M	-144.23M	-6.31M	-12.09M
Financing Cash Flow	24.42B	-378.88M	31.59B	46.18B	46.13B	-24.81B

PNB Gilts Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 78.71
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PNBGILTS, the sentiment is Neutral. The current price of 78.71 is above the 20-day moving average (MA) of 67.54, above the 50-day MA of 74.26, and below the 200-day MA of 88.05, indicating a neutral trend. The MACD of -0.79 indicates Negative momentum. The RSI at 61.42 is Neutral, neither overbought nor oversold. The STOCH value of 93.16 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:PNBGILTS.

PNB Gilts Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
TFCILTD	66 Neutral	₹32.51B	23.71	―	0.92%	5.73%	12.29%
SMCGLOBAL	66 Neutral	₹13.37B	15.62	―	0.70%	-5.03%	-54.73%
BFINVEST	62 Neutral	₹15.03B	4.34	―	―	―	―
ARMANFIN	61 Neutral	₹16.72B	18.43	―	―	-6.03%	-100.77%
PNBGILTS	52 Neutral	₹13.65B	6.76	―	1.25%	-10.05%	-18.64%

PNB Gilts Limited Corporate Events