DINESH

PNB Gilts

Industry: NBFC Lending
Latest CMP 79
Today's Change ▼ -0.14%
52-Week High / Low 107 | 59
Price Date: 14-Aug-2026
Recommendation Sell
Target Price 81
Expected Upside 1.0%
Forecast Horizon 2 Years
Historical CAGR 16.3%
1,000 Invested 15-Aug-2006
Today's Value 20,554
Investment Period 20 Years

Stock Snapshot

Post Results Return
-6.8%
Mild Negative Re-rating
1-Year Target Price
75
2-Year Target Price
81
52-Week High / Low
107 / 59
20-Day Return
-8.6%
Market Cap (Cr.)
1,429
Current PE
8.1
P/BV Ratio
0.8
Dividend Yield
1.0%
Industry PE
23.4

Price Performance

Basis of our Recommendation

Management insights indicate that PNB Gilts is positioned to benefit from the ongoing growth in the NBFC lending sector, particularly through its focus on gold-backed lending for MSMEs. This strategic emphasis aligns with the industry's trajectory, which is characterized by improving pricing power and stable growth prospects. Vista's financial outlook reflects expectations of stable revenue growth consistent with historical performance, alongside improving margins driven by enhanced profitability. However, the company's elevated leverage and weak interest coverage raise concerns about financial stress, which could impact its capital allocation decisions. The macroeconomic environment in India remains supportive, with favorable liquidity conditions and contained inflation, further bolstering the outlook for the financial sector. Over the next 12-24 months, key opportunities lie in capitalizing on the rising demand for credit among MSMEs, while watchpoints include managing financial risk associated with leverage and interest coverage. Overall, PNB Gilts is navigating a stable yet competitive landscape, with a cautious approach warranted given the current financial profile and market conditions

👍 Why We Like This Stock

Things To Watch Out For

Key Parameters

Balance Sheet Strength
Financial Stress Risk
Market Share
Stable
Industry Outlook
Improving
Analyst View
Not Available
Dividend History
Regular
FII Holdings
Stable

Financial Snapshot

Actuals Forecast
FY24 FY25 FY26 FY27 FY28
Revenue (Cr.) 1,577 1,676 1,699 1,646 1,719
Profit Before Tax (Cr.) 95 309 240 212 227
PBT Margin 6.0% 18.4% 1414.0% 12.9% 13.2%
Net Profit (Cr.) 62 245 189 166 178
Earnings Per Share 3.4 13.6 10.5 9.2 9.9

Analyst Recommendations

No analyst recommendations available.

Consensus Recommendation ► None
Consensus Target
Coverage 0 Analysts
Analysts' Viewpoint

Company Overview

Show Company Profile

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.