PNB
Punjab National Bank share price & financials
- Price
- ₹108.77
- Market cap
- ₹1.3L Cr
- Sector
- Financial Services
- Calls analysed
- 6
Punjab National Bank Q1 FY27
What went well
- Gross global business reached INR29.98 lakh crores, marking a healthy 10.2% Y-o-Y growth.
- Core advances (excluding IBPC) recorded a strong 15.4% Y-o-Y growth, driven by retail (17.5%), MSME (19.8%), and agri priority sector (16.4%).
- Net Profit for Q1 FY27 stood at INR5,253 crores.
What to watch
- Potential impact of El Niño factor on monsoon, which could pose a big challenge for the agri sector and overall economy.
- Slippages in Q1 FY27 increased to INR2,080 crores compared to INR1,886 crores in Q1 FY26.
What Punjab National Bank does
Punjab National Bank is a government-majority public sector bank that has operated since 1895, when it began in Lahore. It earns mainly from interest on advances extended across retail, agriculture, MSME and corporate borrowers, funded by customer deposits, alongside fee and treasury income. The bank runs a pan-India branch network complemented by digital channels and overseas branches, and holds stakes in group companies such as PNB Housing Finance, PNB MetLife and PNB Gilts.
Segments
- Retail
- Agriculture
- MSME
- Corporate & Others
- In operation since
- 1895 (started in Lahore)
- Branches added in FY26
- 144
- Recent network expansion
- New zonal office in Bengaluru to strengthen the Southern region
- WhatsApp Banking users
- 1.09 crore
- PNB ONE 2.0 app features
- 350+
- International presence
- Operates overseas branches
Guidance record · Q1 FY27
what the last two calls moved 27 tracked 8 delivered 2 missed 17 open- Credit Growth delivered said Q4 FY25 Promised: 11% to 12% for FY26 Q1 FY27: Promise relates to FY26 and was achieved. No new update.
- Quarterly Slippages missed said Q4 FY25 Promised: Around Rs. 1,500 crores to Rs. 1,700 crores Q1 FY27: Promise relates to FY26 and was consistently missed. No new update.
- Net Interest Margin (NIM) on track said Q4 FY26 Promised: 2.6% to 2.7% Q1 FY27: Global NIM at 2.50%, up from 2.47% in Q4. Domestic NIM at 2.64%. Management confident of achieving the full-year guidance with further Q-o-Q improvements.
All 27 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 3.1%, net profit up 169.3% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 30,447 | 31,895 | 32,523 | 32,572 | 32,513 +7% | 32,889 +3% | 32,798 +1% | 33,589 +3% |
| Net profit | 4,739 | 4,811 | 5,011 | 2,167 | 5,121 +8% | 5,577 +16% | 5,602 +12% | 5,835 +169% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +9.9% 1Y
1Y: ₹106.26 on 10 Sept 2025 → ₹116.75. High ₹132.36 (16 Jan 2026), low ₹99.49 (18 May 2026).
How the price took the results
close before → close after
- Q1 FY27
- +5.7%
- 18 Jul
- Q4 FY26
- −0.7%
- 5 May
- Q3 FY26
- −3.3%
- 19 Jan
- Q2 FY26
- +3.9%
- 18 Oct
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 14.6% a year over 3 years, FY23 to FY26.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹86.8k Cr | ₹109.1k Cr | ₹124.0k Cr | ₹130.8k Cr |
| Interest | ₹51.8k Cr | ₹68.5k Cr | ₹80.7k Cr | ₹88.1k Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹3.4k Cr | ₹9.2k Cr | ₹18.6k Cr | ₹18.5k Cr |
| Net margin | 3.9% | 8.4% | 15.0% | 14.1% |
| ROE | 3.0% | 9.0% | 15.0% | 13.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹2.1k Cr | ₹2.2k Cr | ₹2.2k Cr | ₹2.2k Cr | ₹2.3k Cr | ₹2.3k Cr |
| Reserves | ₹90.4k Cr | ₹95.4k Cr | ₹100.7k Cr | ₹108.2k Cr | ₹139.9k Cr | ₹147.7k Cr |
| Borrowings | ₹52.3k Cr | ₹59.4k Cr | ₹70.1k Cr | ₹72.6k Cr | — | ₹107.6k Cr |
| Deposits | ₹1113.7k Cr | ₹1154.2k Cr | ₹1290.3k Cr | ₹1379.2k Cr | — | ₹1724.8k Cr |
| Other liabilities | ₹21.2k Cr | ₹28.1k Cr | ₹30.3k Cr | ₹36.4k Cr | ₹40.4k Cr | ₹51.0k Cr |
| Total liabilities | ₹1279.7k Cr | ₹1339.3k Cr | ₹1493.6k Cr | ₹1598.6k Cr | ₹1920.9k Cr | ₹2033.3k Cr |
| Fixed assets | ₹11.0k Cr | ₹10.7k Cr | ₹12.1k Cr | ₹12.3k Cr | ₹15.6k Cr | ₹15.6k Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹404.4k Cr | ₹388.6k Cr | ₹416.9k Cr | ₹446.4k Cr | ₹532.0k Cr | ₹523.5k Cr |
| Other assets | ₹864.3k Cr | ₹940.0k Cr | ₹1064.7k Cr | ₹1139.9k Cr | ₹1373.3k Cr | ₹1494.2k Cr |
| Total assets | ₹1279.7k Cr | ₹1339.3k Cr | ₹1493.6k Cr | ₹1598.6k Cr | ₹1920.9k Cr | ₹2033.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −1.43 pp while DIIs added +1.00 pp. The shareholder count shrank 13% to 22,31,532.
- Promoters
- 70.1%
- FIIs
- 5.9%
- DIIs
- 16.1%
- Public
- 7.9%
Since Jun 2025
- Public −1.43 pp
- DIIs +1.00 pp
- FIIs +0.41 pp
How it drifted, 12 quarters
Over this window FIIs went from 2.6% to 5.9% — +3.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 73.2%, FIIs 2.6%, DIIs 13.8%, Public 10.4%.Dec '23: Promoters 73.2%, FIIs 3.1%, DIIs 13.7%, Public 10.0%.Mar '24: Promoters 73.2%, FIIs 4.8%, DIIs 12.4%, Public 9.7%.Jun '24: Promoters 73.2%, FIIs 5.5%, DIIs 10.8%, Public 10.6%.Sep '24: Promoters 70.1%, FIIs 8.4%, DIIs 11.6%, Public 9.9%.Dec '24: Promoters 70.1%, FIIs 5.7%, DIIs 14.3%, Public 9.9%.Mar '25: Promoters 70.1%, FIIs 5.7%, DIIs 14.7%, Public 9.5%.Jun '25: Promoters 70.1%, FIIs 5.5%, DIIs 15.1%, Public 9.3%.Sep '25: Promoters 70.1%, FIIs 5.7%, DIIs 15.5%, Public 8.7%.Dec '25: Promoters 70.1%, FIIs 5.9%, DIIs 16.1%, Public 7.9%.Mar '26: Promoters 70.1%, FIIs 6.4%, DIIs 16.1%, Public 7.5%.Jun '26: Promoters 70.1%, FIIs 5.9%, DIIs 16.1%, Public 7.9%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- SBI Nifty200 Value 30 ETF Mutual fund newly disclosed 2.35% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Punjab National Bank above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Central Government (President Of India) | 70.08% | unchanged |
| Life Insurance Corporation Of India Insurer | 8.83% | unchanged |
| SBI Nifty200 Value 30 ETF Mutual fund | 2.35% | newly disclosed |
| SBI Contra Fund Mutual fund | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in PNB
Filings to Aug 2026
0 new, 15 added, 6 trimmed, 0 sold out — net +22.43 L shares (+0.6%).
- Held by funds
- ₹4.3k Cr
- 25 schemes
- Biggest holder
- SBI Contra Fund
- ₹1.3k Cr · 2.8% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Contra Fund SBI Mutual Fund | ₹1.3k Cr | held | Sep '22 |
| SBI Balanced Advantage Fund SBI Mutual Fund | ₹763 Cr | held | Oct '24 |
| Nippon India ETF Nifty PSU Bank BeES Nippon India Mutual Fund | ₹434 Cr | −7.38 L | Jan '19 |
| SBI Arbitrage Fund SBI Mutual Fund | ₹378 Cr | −3.36 L | Jan '22 |
| HDFC Arbitrage Fund HDFC Mutual Fund | ₹314 Cr | +80.16 L | Oct '24 |
| Nippon India ETF Nifty Bank BeES Nippon India Mutual Fund | ₹283 Cr | −2.03 L | Jan '19 |
| SBI Multi Asset Allocation Fund SBI Mutual Fund | ₹240 Cr | held | Oct '24 |
| Nippon India ETF Nifty Next 50 Junior BeES Nippon India Mutual Fund | ₹139 Cr | +3.91 L | Sep '23 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
15 added, 6 trimmed — net +22.43 L shares (+0.6%)
- Funds are sitting on
- +8%
- vs est. average cost
- Held by funds
- ₹4.3k Cr
- 25 schemes · ≈ 3.2% of the company
- Biggest holder
- SBI Contra Fund
- ₹1.3k Cr · 2.8% of that fund
- Longest holder
- Nippon India ETF Nifty PSU Bank BeES
- 7y 8m · since Jan '19
Shares held by these funds +130%
Aug '23 38.19 cr shares Jul '26
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse Punjab National Bank
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