Punjab National Bank: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of Punjab National Bank?

Punjab National Bank is trading at 104.00 as of 21 April 2026, with a FY2026-2027 high of 135 and low of 89.4. The stock is currently in the middle of its 52-week range. Market cap stands at 1,19,527 Cr..

Q: Is Punjab National Bank financially healthy?

Key indicators: ROCE of 6.32 % is on the lower side. Dividend yield is 2.79 %.

Q: Is Punjab National Bank profitable and how is the profit trend?

Punjab National Bank reported a net profit of 18,553 Cr in Mar 2025 on revenue of 124,010 Cr. Compared to 3,908 Cr in Mar 2022, the net profit shows an improving trend.

Fair Value

₹109.19Fairly Valued by 4.99%vs CMP ₹104.00

P/E (6.7) × ROE (15.2%) × BV (₹130.00) × DY (2.79%)

₹163.88Undervalued by 57.58%vs CMP ₹104.00

MoS: +36.5% (Strong)Confidence: 50/100 (Moderate)Models: 5 Under, 2 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹146.90	27%	Under (+41.3%)
Graham Number	Earnings	₹212.72	19%	Under (+104.5%)
Earnings Power	Earnings	₹70.74	13%	Over (-32%)
DCF	Cash Flow	₹381.58	13%	Under (+266.9%)
Net Asset Value	Assets	₹123.77	9%	Under (+19%)
EV/EBITDA	Enterprise	₹8.34	11%	Over (-92%)
Earnings Yield	Earnings	₹154.70	9%	Under (+48.8%)
Consensus (7 models)		₹163.88	100%	Undervalued

Key Drivers: EPS CAGR 34.5% lifts DCF — verify sustainability. | Wide model spread (₹8–₹382) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 34.5%

*Investments are subject to market risks

Analyst Summary

Punjab National Bank operates in the Finance - Banks - Public Sector segment, NSE: PNB | BSE: 532461, current market price is ₹104.00, market cap is 1,19,527 Cr.. At a glance, stock P/E is 6.72, ROE is 15.2 %, ROCE is 6.32 %, book value is 130, dividend yield is 2.79 %. The latest intrinsic value estimate is ₹163.88, which is about 57.6% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹124,010 Cr versus the prior period change of 13.7%, while latest net profit is about ₹18,553 Cr with a prior-period change of 102.6%. This analysis page also carries profit and loss, shareholding pattern, ratio panels, mutual fund holdings data, which improves the depth of the template beyond a thin price-only snapshot. The 52-week range shown on this page is 135/89.4, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisPunjab National Bank is a Public Limited Listed company incorporated on 19/07/1969 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L20012024PUNJABNAT and registration number is 0. Currently Company is involved in the b…

This summary is generated from the stock page data available for Punjab National Bank: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Punjab National Bank scores 58/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health62/100 · Moderate

ROCE 6.3% WeakROE 15.2% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent

Smart Money75/100 · Strong

FII holding up 0.22% (6mo) Slight increaseDII holding up 1.42% MF buyingPromoter holding at 70.1% Stable

Earnings Quality50/100 · Moderate

Quarterly Momentum58/100 · Moderate

Profit (4Q): +6% YoY Positive

Industry Rank50/100 · Moderate

P/E 6.7 vs industry 8.7 In-lineROCE 6.3% vs industry 6.2% Average

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:32 am

Market Cap	1,19,527 Cr.
Current Price	104
Intrinsic Value	₹163.88
High / Low	135/89.4
Stock P/E	6.72
Book Value	130
Dividend Yield	2.79 %
ROCE	6.32 %
ROE	15.2 %
Face Value	2.00
PEG Ratio	0.19

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Punjab National Bank

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Punjab National Bank	1,19,527 Cr.	104	135/89.4	6.72	130	2.79 %	6.32 %	15.2 %	2.00
Indian Bank	1,19,610 Cr.	888	1,000/518	9.95	593	1.83 %	6.38 %	17.1 %	10.0
Canara Bank	1,15,469 Cr.	127	163/83.4	5.72	129	3.14 %	6.79 %	17.8 %	2.00
Bank of Baroda	1,30,334 Cr.	252	326/212	6.70	318	3.31 %	6.29 %	15.5 %	2.00
Union Bank of India	1,31,023 Cr.	172	205/112	6.92	172	2.77 %	6.72 %	17.0 %	10.0
Industry Average	144,637.54 Cr	226.67		8.69	183.82	2.11%	6.22%	14.34%	7.46

All Competitor Stocks of Punjab National Bank

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Revenue	22,808	24,305	25,673	26,858	27,852	28,682	29,145	30,447	31,895	32,523	32,572	32,513	32,889
Interest	13,513	14,690	16,064	16,820	17,444	18,206	18,536	19,790	20,738	21,640	21,828	21,858	22,164
Expenses	11,578	10,813	10,990	10,259	9,449	9,831	8,473	8,592	7,494	9,142	9,197	8,299	9,298
Financing Profit	-2,282	-1,197	-1,381	-221	959	646	2,136	2,065	3,663	1,742	1,547	2,356	1,426
Financing Margin %	-10%	-5%	-5%	-1%	3%	2%	7%	7%	11%	5%	5%	7%	4%
Other Income	3,325	3,827	3,360	2,999	2,676	4,294	3,615	4,664	3,392	4,776	5,427	4,171	5,013
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	1,043	2,630	1,979	2,778	3,634	4,940	5,751	6,729	7,055	6,518	6,973	6,527	6,440
Tax %	37%	34%	39%	36%	38%	37%	35%	34%	34%	29%	74%	26%	19%
Net Profit	715	1,876	1,363	1,990	2,441	3,363	3,991	4,739	4,811	5,011	2,167	5,121	5,577
EPS in Rs	0.64	1.69	1.22	1.81	2.21	3.04	3.61	4.10	4.18	4.34	1.84	4.46	4.83
Gross NPA %
Net NPA %

Last Updated: February 4, 2026, 12:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 12:46 pm

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	44,958	48,710	50,804	48,058	48,725	52,147	54,918	81,935	76,242	86,845	109,065	124,010	130,497
Interest	28,220	31,343	34,331	32,722	33,530	34,656	36,997	50,805	46,823	51,817	68,534	80,704	87,490
Expenses	16,112	18,760	27,453	22,533	43,345	39,645	25,867	38,601	36,026	41,502	39,623	33,893	35,936
Financing Profit	626	-1,394	-10,980	-7,197	-28,151	-22,153	-7,946	-7,470	-6,607	-6,473	908	9,413	7,071
Financing Margin %	1%	-3%	-22%	-15%	-58%	-42%	-14%	-9%	-9%	-7%	1%	8%	5%
Other Income	4,710	6,175	6,100	9,168	8,883	7,367	9,388	12,777	12,329	12,529	14,158	17,560	19,387
Depreciation	367	384	413	430	581	584	614	982	896	905	906	958	0
Profit before tax	4,969	4,397	-5,293	1,540	-19,849	-15,370	827	4,325	4,826	5,151	14,160	26,015	26,458
Tax %	29%	24%	-31%	41%	-37%	-35%	56%	38%	19%	35%	35%	29%
Net Profit	3,674	3,525	-3,510	1,239	-12,111	-9,550	485	2,695	3,908	3,359	9,157	18,553	17,875
EPS in Rs	19.98	18.33	-18.79	5.58	-43.88	-20.79	0.65	2.45	3.51	3.04	8.27	16.08	15.47
Dividend Payout %	10%	18%	-2%	0%	0%	0%	0%	0%	18%	21%	18%	18%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	-4.06%	-199.57%	135.30%	-1077.48%	21.15%	105.08%	455.67%	45.01%	-14.05%	172.61%	102.61%
Change in YoY Net Profit Growth (%)	0.00%	-195.52%	334.87%	-1212.78%	1098.63%	83.93%	350.59%	-410.66%	-59.06%	186.66%	-70.00%

Punjab National Bank has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	10%
5 Years:	18%
3 Years:	18%
TTM:	13%

Compounded Profit Growth
10 Years:	18%
5 Years:	111%
3 Years:	69%
TTM:	42%

Stock Price CAGR
10 Years:	-2%
5 Years:	25%
3 Years:	41%
1 Year:	-9%

Return on Equity
10 Years:	2%
5 Years:	7%
3 Years:	9%
Last Year:	15%

Last Updated: September 5, 2025, 12:45 pm

Balance Sheet

Last Updated: December 10, 2025, 3:17 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	362	371	393	426	552	921	1,348	2,096	2,202	2,202	2,202	2,299	2,299
Reserves	37,731	41,669	41,412	42,990	40,965	45,164	62,529	90,439	95,380	100,678	108,185	130,839	139,948
Deposits	476,325	537,758	570,383	629,651	648,439	681,874	710,254	1,113,717	1,154,234	1,290,347	1,379,225	1,577,020	1,629,131
Borrowing	43,912	36,692	81,674	43,336	65,330	46,828	62,512	52,298	59,372	70,149	72,586	105,807	109,162
Other Liabilities	16,490	19,522	18,932	16,909	22,242	15,333	14,814	21,176	28,113	30,273	36,438	41,579	40,395
Total Liabilities	574,820	636,011	712,793	733,311	777,528	790,120	851,457	1,279,725	1,339,301	1,493,649	1,598,636	1,857,544	1,920,935
Fixed Assets	3,490	3,656	5,308	6,298	6,371	6,246	7,262	11,049	10,696	12,084	12,348	13,083	15,624
CWIP	0	0	0	0	0	0	0	0	0	0	0	0	0
Investments	149,225	156,762	165,126	191,527	204,419	210,578	253,782	404,369	388,586	416,914	446,421	524,840	531,967
Other Assets	422,105	475,594	542,358	535,486	566,738	573,295	590,413	864,307	940,019	1,064,651	1,139,867	1,319,620	1,373,344
Total Assets	574,820	636,011	712,793	733,311	777,528	790,120	851,457	1,279,725	1,339,301	1,493,649	1,598,636	1,857,544	1,920,935

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	16,906	4,814	14,167	21,938	-1,742	-33,532	-12,793	30,950	20,032	22,592	-27,939	22,075
Cash from Investing Activity +	-302	-872	-1,352	159	392	-629	-338	-787	-1,204	-732	-1,506	-1,578
Cash from Financing Activity +	2,129	7,451	5,975	-9,767	7,460	13,969	13,591	5,415	2,032	1,275	3,518	-1,138
Net Cash Flow	18,733	11,393	18,790	12,330	6,109	-20,192	460	35,579	20,859	23,135	-25,928	19,359
Free Cash Flow	16,476	4,267	13,561	21,442	-2,394	-33,972	-13,131	30,164	19,496	22,040	-29,083	20,490
CFO/OP	65%	25%	67%	92%	1%	-268%	-36%	72%	54%	52%	-38%	30%

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-460.00	-519.00	-543.00	-607.00	-605.00	-642.00	-685.00	37.00	35.00	40.00	38.00	32.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
ROE %	10%	8%	-9%	3%	-29%	-22%	1%	3%	4%	3%	9%	15%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	73.15%	73.15%	73.15%	73.15%	73.15%	73.15%	70.08%	70.08%	70.08%	70.08%	70.08%	70.08%
FIIs	1.71%	1.82%	2.65%	3.10%	4.82%	5.51%	8.42%	5.70%	5.71%	5.52%	5.67%	5.93%
DIIs	13.53%	13.44%	13.80%	13.74%	12.37%	10.76%	11.61%	14.31%	14.67%	15.06%	15.54%	16.09%
Public	11.61%	11.57%	10.41%	10.00%	9.67%	10.57%	9.89%	9.91%	9.54%	9.34%	8.70%	7.91%
No. of Shareholders	20,67,202	20,30,100	20,83,546	21,63,625	23,53,625	25,29,283	25,79,491	26,40,520	26,53,665	25,74,693	24,55,484	23,09,003

Shareholding Pattern Chart

No. of Shareholders

Punjab National Bank: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
SBI Contra Fund	115,846,832	2.98	1450.29	113,256,586	2026-02-23 03:27:32	2.29%
SBI Balanced Advantage Fund	55,770,108	1.74	698.19	N/A	N/A	N/A
SBI ELSS Tax Saver Fund	26,890,616	1.06	336.64	27,890,616	2026-02-23 01:16:54	-3.59%
HSBC Value Fund	25,520,900	2.2	319.5	N/A	N/A	N/A
SBI Large & Midcap Fund	23,200,000	0.77	290.44	N/A	N/A	N/A
SBI Multi Asset Allocation Fund	21,000,000	1.6	249.4	13,000,000	2026-02-16 06:46:34	61.54%
SBI Multicap Fund	14,600,000	0.8	182.78	N/A	N/A	N/A
HSBC Multi Cap Fund	3,280,980	0.79	41.07	N/A	N/A	N/A
ICICI Prudential Equity Savings Fund	2,880,000	0.2	36.05	N/A	N/A	N/A
SBI Equity Savings Fund	2,112,000	0.45	26.44	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
Face Value	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	16.42	8.27	3.04	3.53	2.64
Diluted EPS (Rs.)	16.42	8.27	3.04	3.53	2.64
Cash EPS (Rs.)	16.01	8.39	3.61	4.15	2.99
Book Value[Excl.RevalReserv]/Share (Rs.)	108.61	92.71	85.76	82.22	81.44
Book Value[Incl.RevalReserv]/Share (Rs.)	115.84	100.25	93.43	88.62	88.32
Operating Revenue / Share (Rs.)	107.90	99.05	78.87	69.24	78.13
Net Profit / Share (Rs.)	15.17	7.56	2.79	3.34	2.05
Net Profit After MI / Share (Rs.)	16.08	8.27	3.04	3.51	2.44
Net Profit Margin (%)	14.06	7.63	3.53	4.82	2.62
Net Profit After MI And SOA Nargin (%)	14.90	8.35	3.85	5.06	3.12
Operating Profit Margin (%)	29.18	15.46	6.49	8.85	4.87
Return On Assets (%)	0.99	0.56	0.22	0.28	0.20
Return On Equity / Networth (%)	14.80	8.92	3.54	4.26	3.00
Net Interest Margin (X)	2.33	2.53	2.34	2.19	2.42
Cost To Income (%)	54.47	53.48	51.48	49.35	46.43
Interest Income / Total Assets (%)	6.67	6.82	5.81	5.69	6.39
Non-Interest Income / Total Assets (%)	0.88	0.83	0.81	0.90	1.02
Operating Profit / Total Assets (%)	0.05	-0.31	-0.61	-0.62	-0.85
Operating Expenses / Total Assets (%)	1.75	1.80	1.62	1.52	1.60
Interest Expenses / Total Assets (%)	4.34	4.28	3.46	3.49	3.96
Enterprise Value (Rs.Cr.)	1728918.94	1523407.52	1333714.55	1195171.85	1160148.44
EV Per Net Sales (X)	13.94	13.97	15.36	15.68	14.17
Price To Book Value (X)	0.88	1.34	0.54	0.42	0.45
Price To Sales (X)	0.89	1.26	0.59	0.50	0.46
Retention Ratios (%)	81.96	81.86	78.62	81.74	92.95
Earnings Yield (X)	0.16	0.06	0.06	0.10	0.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Punjab National Bank is a Public Limited Listed company incorporated on 19/07/1969 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L20012024PUNJABNAT and registration number is 0. Currently Company is involved in the business activities of Monetary intermediation of commercial banks, saving banks. postal savings bank and discount houses. Company's Total Operating Revenue is Rs. 121760.73 Cr. and Equity Capital is Rs. 2298.59 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Finance - Banks - Public Sector	Plot No. 4, Sector -10, New Delhi Delhi 110075	Contact not found

Management
Name	Position Held
Mr. K G Ananthakrishnan	Non Executive Chairman
Mr. Ashok Chandra	Managing Director & CEO
Mr. D Surendran	Executive Director
Mr. M Paramasivam	Executive Director
Mr. Bibhu Prasad Mahapatra	Executive Director
Mr. Kalyan Kumar	Executive Director
Mr. Ambarish Ojha	Shareholder Director
Mr. Jatinder Singh Bajaj	Shareholder Director
Mr. Pankaj Sharma	Government Nominee Director
Mrs. Uma Sankar	Nominee Director

FAQ

What is the intrinsic value of Punjab National Bank and is it undervalued?

As of 21 April 2026, Punjab National Bank's intrinsic value is ₹163.88, which is 57.58% higher than the current market price of ₹104.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (15.2 %), book value (₹130), dividend yield (2.79 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Punjab National Bank?

Punjab National Bank is trading at ₹104.00 as of 21 April 2026, with a FY2026-2027 high of ₹135 and low of ₹89.4. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,19,527 Cr..

How does Punjab National Bank's P/E ratio compare to its industry?

Punjab National Bank has a P/E ratio of 6.72, which is below the industry average of 8.69. This is broadly in line with or below the industry average.

Is Punjab National Bank financially healthy?

Key indicators for Punjab National Bank: ROCE of 6.32 % is on the lower side compared to the industry average of 6.22%; ROE of 15.2 % shows strong shareholder returns. Dividend yield is 2.79 %.

Is Punjab National Bank profitable and how is the profit trend?

Punjab National Bank reported a net profit of ₹18,553 Cr in Mar 2025 on revenue of ₹124,010 Cr. Compared to ₹3,908 Cr in Mar 2022, the net profit shows an improving trend.

Does Punjab National Bank pay dividends?

Punjab National Bank has a dividend yield of 2.79 % at the current price of ₹104.00. This is a relatively attractive yield for income-seeking investors.