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PNB Gilts Ltd (PNBGILTS) Fair Value & Analysis

Financial Services · IN · Market cap ₹16.3B

PG PNB Gilts Ltd PNBGILTS · NSE
Price₹90.63
Fair Value₹132.96
Upside+46.7%
Quality43/100
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Evidence: High Range ₹99.72 – ₹166.20

Fair value as of: Jul 3, 2026

From 17 valuation models · updated today

Share price +5.4% over the past month.

Price vs Fair Value (12 months)

₹114.25 ₹59.16 Fair Value ₹132.96 Jul 2025 Jul 2026

12‑month range ₹59.16 – ₹114.25 · fair‑value band ₹99.72 – ₹166.20 · the ₹90.63 price screens below the ₹132.96 fair value. As of Jul 3, 2026.

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Analysis

PNB Gilts Ltd (PNBGILTS) currently trades at ₹90.63, while our model-based Fair Value estimate is ₹132.96 — implying the stock looks roughly 46.7% undervalued today. We read business quality at 43/100 (below-average quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high) — always confirm before acting.

Over the trailing twelve months, PNB Gilts Ltd generated revenue of ₹3.9B at a net margin of 47.0%. Revenue declined 3.3% year over year. It earns a return on equity of 11.2%. Net debt stands at ₹243B. Fundamentals as of Jul 3, 2026

Key figures & financial health

Revenue (TTM) ₹3.9B
Revenue growth (YoY) -3.3%
Net margin 47.0%
Return on equity 11.2%
Free cash flow −₹19.9B FY2026
P/E ratio 9.0
More key figures
Operating margin 79.8%
EPS (TTM) ₹10.09
Dividend yield 2.2%
EPS growth (YoY) -82.7%
Net debt ₹243B FY2026

Figures from reported company fundamentals (EODHD) · as of Jul 3, 2026. TTM = trailing twelve months.

About the company

PNB Gilts Ltd. operates as a government securities dealer in India. The company involved in underwriting and bidding of government securities issuances; trading of fixed income instruments, such as government securities, treasury bills, state development loans, corporate bonds, and interest rate swaps, as well as various money market instruments, including certificates of deposits, commercial papers, etc.; and provision of custodian services to its constituents. It also provides gilts accounts; debt solutions comprising bond and debenture issuances; and retailing services. It serves provident funds trusts, regional rural banks, co-operative banks, corporates, educational institutions, individuals, etc. PNB Gilts Ltd. was incorporated in 1996 and is based in New Delhi, India. PNB Gilts Ltd. is a subsidiary of Punjab National Bank.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

PNB Gilts Ltd reported revenue of ₹16.3B in FY2026 versus ₹8.4B in FY2022, a compound +17.9%/yr. Reported net income was ₹1.8B in FY2026, compounding +2.3%/yr from FY2022.

Revenue +17.9%/yr
FY22 ₹8.4B
FY23 ₹9.5B
FY24 ₹13.8B
FY25 ₹15.6B
FY26 ₹16.3B
Net income +2.3%/yr
FY22 ₹1.7B
FY23 −₹772M
FY24 ₹694M
FY25 ₹2.3B
FY26 ₹1.8B

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Frequently asked questions

Is PNB Gilts Ltd (PNBGILTS) undervalued?
As of Jul 3, 2026, our model estimates a fair value of ₹132.96 versus a price of ₹90.63 — about +47% (undervalued). Model-based estimate, not financial advice.
What is the fair value of PNBGILTS?
Our model-based fair value for PNB Gilts Ltd is ₹132.96 (as of Jul 3, 2026), built from audited fundamentals. The current price is ₹90.63.
What is the quality score of PNBGILTS?
PNB Gilts Ltd has a Quality Score of 43/100, measuring profitability, growth and balance-sheet strength from non-valuation factors.
What is the revenue of PNB Gilts Ltd (PNBGILTS)?
PNB Gilts Ltd reported trailing-twelve-month revenue of about ₹3.9B (latest available figure, as of Jul 3, 2026).
What is the net profit margin of PNBGILTS?
The net profit margin of PNB Gilts Ltd is about 47.0%, meaning it keeps roughly 47.0% of revenue as net income. Based on the latest reported figures.
Does PNB Gilts Ltd pay a dividend?
PNB Gilts Ltd currently shows a dividend yield of about 2.21% relative to its recent price (as of Jul 3, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.

Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.