This article takes a fundamental look at Punjab National Bank (PNB), covering financial performance, valuation, and shareholding trends.
PNB Revenue Trend
Punjab National Bank posted revenue of ₹1,49,463 Cr in FY2026, a 6.4% increase year-over-year.
A 10-year revenue CAGR of 10.0% reflects a track record of consistent expansion, with Punjab National Bank's top line growing from ₹57,780 Cr to ₹1,49,463 Cr over that span.
By revenue, Punjab National Bank counts among the larger players in the banks sector, with a top line of ₹1,49,463 Cr.
Revenue has moved in the same direction for 4 years in a row, suggesting the growth trend has some structural support behind it.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹1,49,463 Cr | +6.4% |
| FY2025 | ₹1,40,456 Cr | +14.8% |
| FY2024 | ₹1,22,394 Cr | +23.5% |
| FY2023 | ₹99,085 Cr | +12.2% |
| FY2022 | ₹88,339 Cr | — |
View Punjab National Bank's full 10-year revenue trend with CAGR analysis →
PNB Profitability
Profit growth was subdued, with Punjab National Bank reporting net income of ₹18,393 Cr in FY2026, broadly flat versus FY2025.
The net margin contracted to 12.3% in FY2026, down from 13.2% the prior year.
Diluted EPS came in at ₹16.00 in FY2026, slipping from ₹16.42 the year before.
Is PNB Undervalued
Applying the P/B Ratio model to Punjab National Bank yields an estimated fair value of ₹109.
Shares of Punjab National Bank are currently trading at ₹106.34.
Craytheon also estimates intrinsic value using the P/E Ratio, EPS Growth, and DDM models. The full methodology and assumptions are available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/B Ratio | ₹109 | 2.1% upside to fair value |
| P/E Ratio | Upgrade | Upgrade |
| EPS Growth | Upgrade | Upgrade |
| DDM | Upgrade | Upgrade |
See all valuation models for Punjab National Bank with detailed assumptions →
PNB Shareholding Pattern
Promoter holding has stayed fixed at 70.1%, with no change across the last 4 quarters.
Foreign institutional investors held 6.4% as of March 2026, up from 5.5% previously.
Domestic institutional ownership edged up to 16.1% as of March 2026, from 15.1% the year before.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 70.1% | 6.4% | 16.1% | 7.5% |
| Dec 2025 | 70.1% | 5.9% | 16.1% | 7.9% |
| Sep 2025 | 70.1% | 5.7% | 15.5% | 8.7% |
| Jun 2025 | 70.1% | 5.5% | 15.1% | 9.3% |
Track quarterly shareholding changes for Punjab National Bank →
PNB Balance Sheet
Proportional view as of 13 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
In FY2026, the total asset base came in at ₹20.33T, up 9.5% YoY from ₹18.58T.
Loans & Advances accounts for 60.9% of the total, ahead of Investments (25.7%) and Cash (8.1%).
Funding mix: 84.8% Deposits, 5.3% Borrowings, 7.4% Equity, 2.5% Other Liabilities. Over the year, deposits are up 9.4% and equity is up 12.6%.
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash | 1,641.22B |
| Loans & Advances | 12.38T |
| Investments | 5,235.15B |
| Other Assets | 1,077.14B |
| Category | Value |
|---|---|
| Equity | 1,506.62B |
| Deposits | 17.25T |
| Borrowings | 1,075.58B |
| Other Liabilities | 503.15B |
What Stands Out About PNB
Taken together, here is how Punjab National Bank (PNB) shapes up for a fundamental analyst.
Revenue stood at ₹1,49,463 Cr in FY2026, up 6.4% year-over-year.
Over a 10-year period, revenue has compounded at 10.0% annually.
Profitability is intact, with a net margin of 12.3% and net income of ₹18,393 Cr.
The P/B Ratio model implies 2.1% upside to fair value from the current price. The remaining three models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
For the complete 10-year financial history with interactive charts and growth analysis, explore Punjab National Bank's detailed profile on Craytheon.