PNB Gilts
- Market cap
- ₹ 1,307 Cr.
- P/E
- 7x
- P/B
- 0.77x
- 52-week range
- 58.6 – 99.8
- ROE
- 11%
- ROCE
- 6%
- Dividend yield
- 2.7%
- Debt / equity
- 14.56
- Sector
- Finance
- Industry
- Investment Company
- Listed on
- NSE, BSE
About
PNB Gilts Limited is an India-based non-banking financial company. As a primary dealer, the Company’s primary activities entail supporting government borrowing programs via underwriting of government securities issuances and trading in a gamut of fixed income instruments, such as government securities, treasury bills, state development loans, corporate bonds, interest rate swaps and various money market instruments, such as certificates of deposits, commercial papers, and others. Its services include gilts account, debt capital market, and retailing. It is a provider of debt solutions in the form of bond and debenture issuances. It manages debt issuances of mid and large sizes, which include both plain vanilla bonds and structured bonds to meet the specific requirements of clients and projects. Its debt syndication desk offers end-to-end services related to the origination and distribution of bonds and commercial papers across various issuer and investor segments.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Investment Company: 66 companies →PNB Gilts against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)7 against a typical 40.7: cheaper than most peers (1st = cheapest).9th of 66
- Sales growth−1.6% against a typical +16.7% from a year earlier.38th of 55
- Share price, 3 months−11.3% against a typical −10.3%.38th of 66
- Size₹ 1,306.5 Cr. market value against a typical ₹ 171.2 Cr. (1st = largest).14th of 61
Latest announcements
Exchange filings and their impact on the company.
- Q2 swings from year-ago loss to Rs 44.8 cr profit, putting H1 at 69% of last full-year profit.
PNB Gilts reported Q2 FY27 profit of Rs 44.84 crore versus a loss of Rs 45.35 crore a year ago, on total income of Rs 436.6 crore. For the half year, profit was Rs 125.53 crore, up 9.4% year-on-year, with net interest income of Rs 194.86 crore and EPS of Rs 6.98. The rebound after last year's volatile quarter supports higher trailing earnings and net worth, though trading income remained weak in a volatile bond market.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| ICRA | — | — | 30 Jan 2026 |
| CRISIL | — | — | 15 Dec 2025 |
| India Ratings | — | — | 12 Sep 2025 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 30 Jan 2026 | Reaffirmed | — | — | ICRA | ₹ 2,000 Cr. | |
| 15 Dec 2025 | Rating action | — | — | CRISIL | ₹ 3,100 Cr. | |
| 27 Nov 2025 | Reaffirmed | — | — | CRISIL | ₹ 3,100 Cr. | |
| 16 Sep 2025 | Reaffirmed | — | — | CRISIL | ₹ 1,000 Cr. | |
| 12 Sep 2025 | Reaffirmed | — | — | India Ratings | ₹ 3,500 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 13 Oct 2026 | Financial Results | To consider and approve the unaudited financial results for the period ended September 30, 2026 |
| 16 Jul 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 20 Apr 2026 | Financial Results/Dividend | To consider and approve the audited financial results of the Company for the quarter and year ended March 31, 2026 and to consider the proposal for recommendation of final dividend, if any, for FY 2025-26. |
| 17 Jan 2026 | Financial Results | To consider and approve the unaudited financial results for the period ended December 31, 2025 |
| 16 Oct 2025 | Financial Results | PNB Gilts Ltd. has informed the Exchange about the Board Meeting to be held on 16.10.2025 to inter-alia consider and approve the Unaudited Financial results of the Company for the quarter ended September 30, 2025 |
| 23 Jul 2025 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2025 |
Financials
Standalone figures in ₹ crore.
| ₹ Cr. | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 385 | 474 | 440 | 501 | 362 | 419 | 563 | 443 | 425 | 424 | 455 | 436 |
| Expenses | 34 | 13 | 14 | 12 | 59 | 12 | 26 | 152 | 30 | 93 | 15 | 34 |
| Operating Profit | 351 | 461 | 426 | 488 | 303 | 407 | 538 | 292 | 394 | 331 | 439 | 403 |
| OPM % | 91% | 97% | 97% | 98% | 84% | 97% | 95% | 66% | 93% | 78% | 97% | 92% |
| Other Income | 4 | 0 | 0 | 1 | 1 | 0 | 0 | 1 | 1 | 0 | 0 | 0 |
| Interest | 361 | 371 | 355 | 336 | 315 | 307 | 324 | 345 | 327 | 316 | 331 | 342 |
| Depreciation | 4 | 4 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | −10 | 86 | 71 | 153 | −12 | 99 | 213 | −53 | 68 | 14 | 108 | 60 |
| Tax % | 47% | 21% | 25% | 25% | −13% | 24% | 25% | −15% | 20% | 8% | 25% | 26% |
| Net Profit | −15 | 68 | 53 | 115 | −10 | 75 | 160 | −45 | 54 | 13 | 81 | 45 |
| EPS in Rs | −0.86 | 3.78 | 2.97 | 6.37 | −0.56 | 4.17 | 8.89 | −2.52 | 2.99 | 0.72 | 4.48 | 2.49 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 17%
- 5 Years
- 10%
- 3 Years
- 11%
- TTM
- −3%
- 10 Years
- 18%
- 5 Years
- −17%
- 3 Years
- 60%
- TTM
- 7%
- 10 Years
- 9%
- 5 Years
- 2%
- 3 Years
- −9%
- TTM
- —
- 10 Years
- 13%
- 5 Years
- 8%
- 3 Years
- 11%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| PNB Gilts | ₹ 74.30 | ₹ 1,307 Cr. | 7x | 0.8x | 11% | — |
| ICICI Prudential Asset Management Company Ltd | ₹ 2,655.00 | ₹ 1,30,928 Cr. | 47.7x | 37.7x | — | 56% |
| HDFC Asset Management Company | ₹ 2,250.00 | ₹ 96,542 Cr. | 39.9x | 12.3x | — | 69.3% |
| Nippon Life India Asset Management | ₹ 922.10 | ₹ 59,010 Cr. | 50.1x | 16.3x | 34.5% | 56.4% |
| Multi Commodity Exchange Of India | ₹ 3,017.00 | ₹ 76,931 Cr. | 52.6x | 16.6x | 37.9% | 57.8% |
| Motilal Oswal Financial Services | ₹ 925.00 | ₹ 55,715 Cr. | 30.8x | 4.5x | 15.6% | 21.2% |
Management
- Pankaj Kumar
- Deputy Chief Executive Officer
- Kishkanda Garg
- Chief Financial Officer
- Monika Kochar
- Company Secretary and Compliance Officer
Prices are delayed and for information only. Nothing on this page is investment advice.