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PNB Gilts Limited
(PNBGILTS)
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Rating:53Neutral
Price Target:
₹73.00
▼(-7.23% Downside)
Action:Reiterated
Date:09/06/26
The score is held back primarily by financial risk—very high leverage and multi-year negative operating/free cash flow outweigh the improving revenue and profitability trends. Technical signals are mixed/neutral, while valuation is reasonable and provides partial support.
Positive Factors
Recent Revenue Expansion
Recent revenue expansion indicates improving business activity and market participation, supporting a larger earnings base over the next several quarters. If sustained, this growth can improve operating leverage and strengthen the company’s ability to absorb the volatility inherent in fixed-income market conditions.
Negative Factors
Very High Leverage
Very high leverage leaves limited room for adverse market or funding conditions and makes results more sensitive to financing costs and portfolio movements. The capital structure can constrain flexibility, increase dependence on continued funding access, and amplify the impact of losses on shareholder capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Recent Revenue Expansion
Recent revenue expansion indicates improving business activity and market participation, supporting a larger earnings base over the next several quarters. If sustained, this growth can improve operating leverage and strengthen the company’s ability to absorb the volatility inherent in fixed-income market conditions.
Read all positive factors
PNB Gilts Limited (PNBGILTS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹12.91B
Dividend Yield2.79%
Average Volume (3M)21.46K
Price to Earnings (P/E)12.6
Beta (1Y)1.30
Revenue Growth-15.54%
EPS Growth-69.90%
CountryIN
Employees57
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)5.67
Shares Outstanding180,010,130
10 Day Avg. Volume25,040
30 Day Avg. Volume21,459
Financial Highlights & Ratios
PEG Ratio-0.27
Price to Book (P/B)0.62
Price to Sales (P/S)0.65
P/FCF Ratio-0.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
PNB Gilts Limited Business Overview & Revenue Model
Company Description
Operating in India, PNB Gilts Ltd. functions as a principal market maker for government debt instruments. The company plays a crucial role in the initial placement of government securities by underwriting new issuances. Its extensive trading portf...
How the Company Makes Money
PNB Gilts Limited primarily makes money through fixed-income market activities typical of a primary dealer. Key revenue streams generally include: (1) Net interest income / interest spread from holding and financing a portfolio of government secur...
PNB Gilts Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
28
Negative
Cash Flow
15
Very Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.18B | 16.28B | 15.56B | 13.83B | 9.50B | 8.43B |
| Gross Profit | 4.98B | 2.87B | 15.23B | 13.51B | 9.28B | 8.19B |
| EBITDA | 4.70B | 2.44B | 16.27B | 15.26B | 8.89B | 7.22B |
| Net Income | 1.02B | 1.82B | 2.33B | 694.11M | -772.22M | 1.66B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 270.60B | 247.03B | 245.40B | 214.97B | 167.50B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 5.52B | 231.34B | 222.17B | 150.13B | 133.94B |
| Total Debt | 0.00 | 248.84B | 223.84B | 224.03B | 384.81B | 290.63B |
| Total Liabilities | -17.10B | 253.51B | 231.57B | 232.10B | 202.37B | 153.23B |
| Stockholders Equity | 17.10B | 17.10B | 15.45B | 13.30B | 12.60B | 14.27B |
Cash Flow | ||||||
| Free Cash Flow | -24.54B | -19.93B | -1.98B | -28.77B | -46.53B | -45.64B |
| Operating Cash Flow | -24.53B | -19.93B | -1.97B | -28.75B | -46.38B | -45.64B |
| Investing Cash Flow | -5.36M | -8.58M | -9.75M | -10.47M | -144.23M | -6.31M |
| Financing Cash Flow | 24.42B | 24.79B | -378.88M | 31.59B | 46.18B | 46.13B |
PNB Gilts Limited Technical Analysis
Negative
78.69
Price Trends
77.84
Negative
80.76
Negative
77.40
Negative
Market Momentum
-1.46
Positive
36.07
Neutral
19.64
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PNBGILTS, the sentiment is Negative. The current price of 78.69 is above the 20-day moving average (MA) of 76.28, above the 50-day MA of 77.84, and above the 200-day MA of 77.40, indicating a bearish trend. The MACD of -1.46 indicates Positive momentum. The RSI at 36.07 is Neutral, neither overbought nor oversold. The STOCH value of 19.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PNBGILTS.
PNB Gilts Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹109.02B | 18.84 | ― | 0.87% | -4.46% | -19.71% | |
67 Neutral | ₹118.05B | 11.35 | ― | 2.64% | -2.59% | -5.88% | |
60 Neutral | ₹596.95B | 30.07 | ― | 0.60% | 14.81% | -29.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹12.91B | 12.61 | ― | 2.79% | -15.54% | -69.90% | |
52 Neutral | ₹74.82B | 150.34 | ― | 0.54% | 17.92% | -57.73% | |
49 Neutral | ₹131.14B | 18.53 | ― | 1.08% | 16.27% | 44.44% |
* General Sector Average
IN:PNBGILTS
PNB Gilts Limited
71.74
-24.23
-25.25%
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PNB Gilts Limited Corporate Events
PNB Gilts to Close Trading Window Ahead of Half-Year Results
Sep 23, 2026
PNB Gilts Limited has announced that its trading window for dealing in the company’s securities will be closed for all insiders and designated persons from October 1, 2026 until 48 hours after the disclosure of its financial results for the ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.