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Last Updated on: 28 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of PNB Gilts Ltd

About the Company - PNB Gilts Ltd

PNB Gilts Ltd. is a Public Limited Listed company incorporated on 13/03/1996 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L74899DL1996PLC077120 and registration number is 077120. Currently company belongs to the Industry of Finance & Investments. Company’s Total Operating Revenue is Rs. 989.72 Cr. and Equity Capital is Rs. 180.01 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Finance & Investments5, Sansad Marg, New Delhi Delhi 110001pnbgilts@pnbgilts.com
http://www.pnbgilts.com
Management
NamePosition Held
Mr. Kalyan KumarChairman, Non Ind & Non Exe Director
Mr. Vikas GoelManaging Director & CEO
Dr. T M BhasinIndependent Director
Mr. P P PareekIndependent Director
Mr. S K KalraIndependent Director
Mrs. Neharika VohraIndependent Director

PNB Gilts Ltd. Share Price Update

Share PriceValue
Today₹112.10
Previous Day₹115.35

Basic Stock Data of PNB Gilts Ltd

Market Cap 1,908 Cr.
Current Price 106
High / Low128/55.2
Stock P/E242
Book Value 70.9
Dividend Yield0.00 %
ROCE4.83 %
ROE6.33 %
Face Value 10.0

Data Source: screener.in

Competitors of PNB Gilts Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Nalwa Sons Investments Ltd 1,755 Cr. 3,4153,710/1,99929.6 20,6000.00 %1.57 %1.14 % 10.0
Smartlink Holdings Ltd 173 Cr. 174205/1341,575 1830.00 %1.57 %0.91 % 2.00
Cholamandalam Investment & Finance Company Ltd 93,513 Cr. 1,1141,310/71029.2 1880.18 %9.72 %20.4 % 2.00
Mahindra & Mahindra Financial Services Ltd 35,708 Cr. 289347/21618.4 1512.08 %8.87 %11.9 % 2.00
5Paisa Capital Ltd 1,777 Cr. 570759/27028.2 1610.00 %12.4 %10.6 % 10.0
Industry Average26,585.20 Cr1,112.40336.084,256.600.45%6.83%8.99%5.20

PNB Gilts Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales218323184215271262242283339297310443347
Expenses8281004441143492128533181367
Operating Profit1373158417123011919371255263292430280
OPM %63%97%46%80%85%45%80%25%75%89%94%97%81%
Other Income00-9-101810-010700
Interest1149187110131136133186255251280354325
Depreciation0110000000144
Profit before tax22223-1250117-1659-1151121872-49
Tax %25%25%-20%21%29%62%17%23%1,256%47%25%19%16%
Net Profit17167-144083-649-89-861358-41
EPS in Rs0.939.28-0.792.224.61-0.342.72-4.94-0.440.340.753.21-2.28

PNB Gilts Ltd Quarterly Chart

PNB Gilts Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1652883464103435004025088821,0527569271,485
Expenses91012161618702131324345132
Operating Profit1562783333943274823324878511,0207148811,353
OPM %94%96%96%96%95%96%83%96%96%97%94%95%91%
Other Income11000000-81-98811
Interest1261892432612762263314035193955109731,321
Depreciation11110000121112
Profit before tax30899113351257183250614210-8530
Tax %29%31%32%33%33%35%-8%36%25%26%21%9%
Net Profit2161618834167153186454166-7715
EPS in Rs1.173.403.414.901.929.290.082.9410.3525.239.21-4.290.82
Dividend Payout %64%22%26%31%57%27%1,277%48%29%40%54%0%

PNB Gilts Ltd Profit & Loss Yearly Chart

PNB Gilts Ltd Growth

Compounded Sales Growth
10 Years:12%
5 Years:18%
3 Years:2%
TTM:28%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:123%
Stock Price CAGR
10 Years:21%
5 Years:29%
3 Years:28%
1 Year:79%
Return on Equity
10 Years:13%
5 Years:15%
3 Years:14%
Last Year:-6%

PNB Gilts Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital135135180180180180180180180180180180180
Reserves4434884865415527196777088631,1361,2471,0801,097
Borrowings2,2083,1223,7673,8584,9213,5144,3698,23412,1659,86414,53119,24322,119
Other Liabilities6192124182119153274001,0519607929941,160
Total Liabilities2,8473,8374,5574,7615,7714,5665,2529,52214,25812,14016,75021,49724,556
Fixed Assets54433333434714
CWIP-0-0-0-0-0-0-0-0-0-0-013-0
Investments1751826953286404434,9998,81812,96510,90715,26718,51821,345
Other Assets2,6673,6503,8574,4305,1284,1202517011,2901,2301,4802,9593,197
Total Assets2,8473,8374,5574,7615,7714,5665,2529,52214,25812,14016,75021,49724,556

PNB Gilts Ltd Reserves and Borrowings Chart

PNB Gilts Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -1,292-696-94-366-1,0881,213-800-3,843-3,8982,483-4,564-4,638
Cash from Investing Activity -46-8-513368-313197-0-0-1-1-1-14
Cash from Financing Activity 1,334898630711,030-1,4318003,8443,900-2,4814,6134,618
Net Cash Flow-41942274-370-200-01149-35

PNB Gilts Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days00-0-0-0-0-0-0-0-0-0-0
Inventory Days
Days Payable
Cash Conversion Cycle00-0-0-0-0-0-0-0-0-0-0
Working Capital Days5,5294,1233,5963,4265,2962,883931026869181171
ROCE %7%8%8%9%6%10%7%7%8%8%5%5%

PNB Gilts Ltd Financial Efficiency Indicators Chart

PNB Gilts Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters74.07%74.07%74.07%74.07%74.07%74.07%74.07%74.07%74.07%74.07%74.07%74.07%
FIIs0.29%0.29%0.34%0.48%0.60%0.51%0.45%0.31%0.33%0.24%0.01%0.04%
DIIs0.01%0.01%0.01%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public25.63%25.63%25.58%25.44%25.33%25.42%25.48%25.62%25.61%25.70%25.93%25.89%
No. of Shareholders49,13252,71864,28866,22070,78579,03780,68184,89683,35283,47281,30684,154

PNB Gilts Ltd Shareholding Pattern Chart

No. of PNB Gilts Ltd Shareholders

This stock is not held by any mutual fund

PNB Gilts Ltd ROCE Trend

PNB Gilts Ltd EPS Trend

PNB Gilts Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)-4.299.2125.2310.352.94
Diluted EPS (Rs.)-4.299.2125.2310.352.94
Cash EPS (Rs.)-4.219.2725.3310.432.96
Book Value[Excl.RevalReserv]/Share (Rs.)70.0079.2973.1357.9149.31
Book Value[Incl.RevalReserv]/Share (Rs.)70.0079.2973.1357.9149.31
Dividend / Share (Rs.)0.005.0010.003.001.40
Revenue From Operations / Share (Rs.)68.3254.9858.4449.0128.21
PBDIT / Share (Rs.)48.9639.7156.6547.3127.05
PBIT / Share (Rs.)48.8839.6556.5547.2327.02
PBT / Share (Rs.)-4.7211.6734.1313.884.61
Net Profit / Share (Rs.)-4.299.2125.2310.352.94
PBDIT Margin (%)71.6672.2296.9396.5495.88
PBIT Margin (%)71.5572.1096.7596.3795.79
PBT Margin (%)-6.9121.2358.3928.3116.34
Net Profit Margin (%)-6.2716.7443.1621.1210.40
Return on Networth / Equity (%)-6.1211.6134.4917.875.95
Return on Capital Employeed (%)69.5149.7575.6154.745.33
Return On Assets (%)-0.350.983.741.300.55
Long Term Debt / Equity (X)0.000.000.000.479.28
Total Debt / Equity (X)15.2710.187.4911.679.28
Asset Turnover Ratio (%)0.060.060.070.070.06
Current Ratio (X)1.061.091.121.1224.02
Quick Ratio (X)1.061.091.121.1224.02
Dividend Payout Ratio (NP) (%)0.0032.5839.6316.3041.05
Dividend Payout Ratio (CP) (%)0.0032.3639.4716.1740.72
Earning Retention Ratio (%)0.0067.4260.3783.7058.95
Cash Earning Retention Ratio (%)0.0067.6460.5383.8359.28
Interest Coverage Ratio (X)0.901.402.581.641.21
Interest Coverage Ratio (Post Tax) (X)0.911.312.171.521.13
Enterprise Value (Cr.)19951.1015551.4310719.6112589.978692.45
EV / Net Operating Revenue (X)16.2215.7110.1914.2717.12
EV / EBITDA (X)22.6421.7610.5114.7817.85
MarketCap / Net Operating Revenue (X)0.831.080.820.481.11
Retention Ratios (%)0.0067.4160.3683.6958.94
Price / BV (X)0.810.750.650.410.63
Price / Net Operating Revenue (X)0.831.080.820.481.11
EarningsYield-0.070.150.520.430.09

PNB Gilts Ltd Profitability Ratios (%)

PNB Gilts Ltd Liquidity Ratios

PNB Gilts Ltd Liquidity Ratios (%)

PNB Gilts Ltd Interest Coverage Ratios (%)

PNB Gilts Ltd Valuation Ratios

Fair Value / Intrinsic Value of PNB Gilts Ltd

Fair Value: ₹1107.81

The stock is undervalued by 945.10% compared to the current price ₹106

*Investments are subject to market risks

Strength and Weakness of PNB Gilts Ltd

StrengthWeakness
  1. The stock has a low average Cash Conversion Cycle of 0.00, which is a positive sign.
  2. The company has shown consistent growth in sales (425.31 cr) and profit (134.92 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 43.94 and average Dividend Yield of 86.51%.
  2. The stock has a low average ROCE of 7.33%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 58.83, which may not be favorable.
  4. The company has higher borrowings (8,608.85) compared to reserves (772.08), which may suggest financial risk.

Should I Buy PNB Gilts Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in PNB Gilts Ltd:
    1. Net Profit Margin: -6.27%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 69.51% (Industry Average ROCE: 8.47%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 0.91
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 1.06
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 243 (Industry average Stock P/E: 25.3)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✗ Total Debt / Equity: 15.27
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in PNB Gilts Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE