Punjab & Sind Bank
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 43.3% • Corporate / Wholesale Banking: 30.3% • Treasury: 26.2%
AI Sector View
AI GENERATEDFinancial Services
Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.
PROS
- Comfortable capital adequacy - CAR of 17.4%
- Strong provisioning - provision coverage ratio of 92.3%
- Healthy loan book growth of 19.1% with stable asset quality
- Stock looks reasonably valued - P/E of 11.6 is below its historical median
- Company has a consistent dividend-paying track record
CONS
- A large part of profit comes from other income (101.5% of PBT)
- Promoter holding has decreased over last 2 years: -4.4pp
- Weak return ratios for a lender: 3Y avg ROA 0.6%
- Thin net interest margin of 2.2%
- Company's return on assets is weak at 0.8%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SBIN | 1001.60 | 10.72 | 924538.66 | 1.73 | 24579.04 | 13.65 | 136240.49 | 8.36 | 12.16 | 52.34 |
| UNIONBANK | 183.40 | 6.78 | 140000.33 | 2.73 | 5368.17 | 29.77 | 27427.10 | 1.21 | 14.57 | 69.42 |
| PNB | 115.60 | 6.02 | 132858.42 | 2.60 | 5339.15 | 191.40 | 33589.17 | 3.12 | 13.26 | 75.40 |
| BANKBARODA | 234.90 | 6.69 | 121475.30 | 3.62 | 1572.59 | -53.08 | 35114.52 | 6.84 | 11.20 | 33.10 |
| INDIANB | 855.00 | 9.01 | 115165.42 | 2.13 | 3299.48 | 48.73 | 18095.14 | 11.11 | 16.28 | 67.14 |
| CANBK | 124.20 | 5.67 | 112657.49 | 3.38 | 4864.08 | 61.96 | 32957.16 | 4.55 | 14.46 | 68.47 |
| MAHABANK | 84.45 | 8.62 | 64955.18 | 2.61 | 2020.54 | 26.83 | 8034.65 | 13.90 | 16.53 | 68.61 |
| BANKINDIA | 140.70 | 5.44 | 64056.04 | 3.30 | 3138.46 | 77.92 | 20096.90 | 8.83 | 10.97 | 73.18 |
| IOB | 33.01 | 10.67 | 63566.00 | 0.00 | 1659.24 | 49.25 | 8777.57 | 18.82 | 11.31 | 54.56 |
| UCOBANK | 23.99 | 12.19 | 30082.40 | 1.83 | 652.43 | 24.09 | 6744.59 | 15.10 | 11.00 | 54.71 |
| CENTRALBK | 30.58 | 6.06 | 27679.19 | 3.92 | 1328.95 | 5.43 | 9725.90 | 12.79 | 8.27 | 67.83 |
| PSB | 22.67 | 11.62 | 16085.69 | 1.72 | 331.51 | 23.16 | 3213.37 | 10.40 | 9.07 | 71.38 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,316 | 2,406 | 2,491 | 2,481 | 2,652 | 2,739 | 2,931 | 3,159 | 2,911 | 2,999 | 3,042 | 3,030 | 3,213 | |
| Interest Expended | 1,578 | 1,731 | 1,752 | 1,792 | 1,802 | 1,866 | 1,992 | 2,037 | 2,010 | 2,049 | 2,056 | 2,055 | 2,175 |
| Net Interest Income | 738 | 675 | 739 | 689 | 850 | 873 | 939 | 1,122 | 900 | 950 | 986 | 975 | 1,039 |
| 179 | 268 | 362 | 413 | 194 | 359 | 338 | 677 | 469 | 374 | 507 | 427 | 332 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3,546 |
| Operating Expenses | 659 | 683 | 824 | 766 | 727 | 774 | 793 | 982 | 829 | 819 | 899 | 860 | 826 |
| Operating Profit | 257 | 260 | 277 | 336 | 317 | 458 | 484 | 816 | 540 | 505 | 594 | 542 | 545 |
| Provisions & Contingencies | 23 | -35 | 96 | 110 | 103 | 151 | 109 | 374 | 217 | 148 | 138 | -73 | 94 |
| Profit before Tax | 234 | 295 | 181 | 227 | 213 | 307 | 375 | 442 | 323 | 357 | 456 | 615 | 451 |
| Tax % | 34.82% | 35.96% | 36.74% | 38.56% | 14.88% | 22.04% | 24.74% | 29.29% | 16.67% | 17.59% | 26.30% | 31.46% | 26.57% |
| Net Profit | 153 | 189 | 114 | 139 | 182 | 240 | 282 | 313 | 269 | 295 | 336 | 422 | 332 |
| EPS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9,694 | 11,481 | 11,982 | — | |
| Interest Expended | 6,014 | 5,714 | 6,279 | 5,872 | 4,712 | 4,444 | 5,019 | 6,853 | 7,698 | 8,170 | 8,335 |
| Net Interest Income | -6,014 | -5,714 | -6,279 | -5,872 | -4,712 | -4,444 | -5,019 | 2,841 | 3,784 | 3,811 | — |
| 578 | 581 | 828 | 897 | 904 | 959 | 940 | 1,221 | 1,568 | 1,778 | 1,641 | |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10,915 | 13,049 | 13,759 | 3,546 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2,932 | 3,276 | 3,407 | — | |
| Operating Profit | -6,014 | -5,714 | -6,279 | -5,872 | -4,712 | -4,444 | -5,019 | 1,131 | 2,075 | 2,182 | — |
| 1,126 | 1,753 | 2,213 | 2,567 | 4,064 | 139 | -359 | 194 | 737 | 429 | — | |
| Profit before Tax | 52 | -837 | -772 | -1,522 | -3,404 | 1,187 | 1,620 | 937 | 1,338 | 1,752 | 1,881 |
| Tax % | 0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% | 36.45% | 24.05% | 24.56% | 26.40% |
| Net Profit | 201 | -744 | -543 | -991 | -2,733 | 1,039 | 1,313 | 595 | 1,016 | 1,322 | 1,384 |
| EPS | 5 | -18 | 0 | -16 | -36 | 3 | 2 | 1 | 1 | 2 | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 3%
- 5 Years:
- 11%
- 3 Years:
- 14%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 15%
- 5 Years:
- —
- 3 Years:
- 0%
STOCK PRICE CAGR
- 10 Years:
- -8%
- 5 Years:
- 6%
- 3 Years:
- -19%
- 1 Year:
- -23%
RETURN ON EQUITY
- 10 Years:
- -5%
- 5 Years:
- 8%
- 3 Years:
- 7%
- Last Year:
- 10%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 400 | 565 | 565 | 701 | 4,053 | 6,778 | 6,778 | 6,778 | 7,096 | 7,096 |
| 5,742 | 5,618 | 5,136 | 4,895 | 4,310 | 7,233 | 8,331 | 8,756 | 6,259 | 7,037 | |
| 85,540 | 1,01,726 | 98,558 | 89,668 | 96,108 | 1,02,137 | 1,09,665 | 1,19,410 | 1,29,774 | 1,45,829 | |
| 2,958 | 3,683 | 2,714 | 3,213 | 2,644 | 2,444 | 9,018 | 9,771 | 14,230 | 16,352 | |
| Other Liabilities & Provisions | 2,002 | 2,167 | 2,009 | 2,027 | 3,367 | 2,476 | 2,662 | 2,943 | 4,457 | 2,957 |
| Total Liabilities | 96,643 | 1,13,759 | 1,08,982 | 1,00,504 | 1,10,482 | 1,21,068 | 1,36,455 | 15 | 16 | 18 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 4,365 | 6,256 | 4,941 | 9,488 | 7,209 | 6,139 | 6,225 | 7,312 | 8,794 | 6,230 | |
| Balances with Banks & Money at Call | 225 | 876 | 1,677 | 90 | 1,131 | 149 | 71 | 71 | 26 | 70 |
| 27,949 | 32,982 | 26,173 | 24,552 | 32,023 | 42,281 | 44,838 | 49,599 | 46,912 | 49,388 | |
| 58,335 | 66,569 | 69,176 | 58,412 | 60,942 | 63,627 | 76,819 | 82,736 | 97,300 | 1,15,912 | |
| 1,095 | 1,083 | 1,230 | 1,241 | 1,585 | 1,577 | 1,519 | 1,756 | 1,798 | 1,862 | |
| 4,675 | 5,993 | 5,785 | 6,721 | 7,593 | 7,294 | 6,981 | 6,182 | 6,985 | 5,809 | |
| Total Assets | 96,643 | 1,13,759 | 1,08,982 | 1,00,504 | 1,10,482 | 1,21,068 | 1,36,455 | 15 | 16 | 18 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -495 | 1,063 | -97 | 2,210 | -5,848 | -5,999 | 1,428 | 1,749 | -2,294 | -1,893 | |
| Cash from Investing | -33 | -51 | -61 | -63 | -446 | -121 | -88 | -229 | -168 | -241 |
| Cash from Financing | 216 | 1,531 | -356 | 814 | 5,055 | 4,068 | -1,332 | -434 | 3,898 | -387 |
| -313 | 2,543 | -514 | 2,960 | -1,239 | -2,051 | 8 | 1,086 | 1,437 | -2,521 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 5.02 | -13.17 | -9.62 | -14.13 | -6.74 | 1.53 | 1.94 | 0.88 | 1.43 | 1.86 |
| Book Value (₹) | 131.59 | 94.45 | 84.47 | 66.65 | 18.37 | 19.31 | 20.95 | 21.34 | 17.32 | 18.42 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.31 | 0.48 | 0.20 | 0.07 | 0.39 |
| PROFITABILITY | ||||||||||
| Net Interest Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2.03% | 2.47% | 2.22% |
| ROA % | 0.20% | -0.71% | -0.49% | -0.95% | -2.59% | 0.90% | 1.02% | 0.42% | 0.66% | 0.78% |
| ROE % | 3.89% | -14.03% | -10.75% | -20.98% | -45.11% | 10.12% | 9.62% | 4.15% | 7.59% | 10.42% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 72.16% | 61.23% | 60.97% | |
| ASSET QUALITY | ||||||||||
| Gross NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 14.54% | 0.00% | 0.00% | 0.00% | 3.34% |
| Net NPA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 3.81% | 0.00% | 0.00% | 0.00% | 0.91% |
| Provision Coverage % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 84.44% | 0.00% | 0.00% | 0.00% | 91.77% |
| Slippage Ratio % | — | — | — | — | — | — | — | — | — | — |
| BALANCE SHEET & LIQUIDITY | ||||||||||
| CASA % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 32.42% | 31.43% | 30.77% |
| Credit-Deposit Ratio % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.08% | 0.11% | 0.11% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 17.16% | 17.41% | 17.42% | |
| GROWTH & VALUATION | ||||||||||
| Net Profit Growth % | -40.15% | -469.89% | 26.93% | -82.31% | -175.83% | 138.02% | 26.37% | -54.65% | 70.61% | 30.13% |
| Book Value Growth % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.91% | -18.84% | 6.35% |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 68.00x | 30.39x | 11.06x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 2.80x | 2.51x | 1.12x |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.33% | 0.16% | 1.89% |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-10 - Punjab & Sind Bank has informed the Exchange about Credit Rating
2026-09-10 - Punjab & Sind Bank has informed the Exchange about Strike
2026-09-01 - Punjab & Sind Bank has informed the Exchange about Investor Presentation
2026-08-22 - Punjab & Sind Bank has informed the Exchange about Credit Rating
2026-08-13 - Punjab & Sind Bank has informed the Exchange regarding Change in Director(s) of the company.
2026-07-28 - Punjab & Sind Bank has informed the Exchange regarding Proceedings of Annual General Meeting held on July 28, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-07-27 - Punjab & Sind Bank has informed the Exchange about Transcript
2026-07-20 - Punjab & Sind Bank has informed the Exchange about Link of Recording
2026-07-20 - Punjab & Sind Bank has informed the Exchange about Copy of Newspaper Publication
News
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