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PNB Finance And Industries Limited Unlisted Shares
DRHP Status : Not Filed
11400
Fundamentals About PNB Finance And Industries Limited
Downloads & Investor Documents
All documents are provided for informational purposes and are subject to regulatory disclosures.
Key Financials of PNB Finance And Industries Limited
| P&L Statement | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 0 | 1.1 | 0 |
| Cost of Material Consumed | 0 | 0 | 0 |
| Gross Margins | - | 100 | - |
| Change in Inventory | 0 | 0 | 0 |
| Employee Benefit Expenses | 0.57 | 0.7 | 0.84 |
| Other Expenses | 2.7 | 2 | 0.8 |
| EBITDA | -3.27 | -1.6 | -1.64 |
| OPM | - | -145.45 | - |
| Other Income | 11 | 10 | 10.5 |
| Finance Cost | 0 | 0 | 0.01 |
| D&A | 0 | 0 | 0 |
| EBIT | -3.27 | -1.6 | -1.64 |
| EBIT Margins | - | -145.45 | - |
| PBT | 7.16 | 8.6 | 8.9 |
| PBT Margins | - | 781.82 | - |
| Tax | 1.1 | 1.4 | 1.7 |
| PAT | 6.06 | 7.2 | 7.2 |
| NPM | - | 654.55 | - |
| EPS | 18.94 | 22.5 | 22.5 |
Financial Ratios |
2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Profit Margin | - | -145.45 | - |
| Net Profit Margin | - | 654.55 | - |
| Earning Per Share (Diluted) | 18.94 | 22.5 | 22.5 |
| Assets | 2023 | 2024 | 2025 |
|---|---|---|---|
| Fixed Assets | 0 | 0 | 0 |
| CWIP | 0 | 0 | 0 |
| Investments | 1920 | 3317 | 3797 |
| Trade Receivables | 0 | 1 | 0 |
| Inventory | 0 | 0 | 0 |
| Other Assets | 17 | 14 | 18 |
| Total Assets | 1937 | 3332 | 3815 |
| Liabilities | 2023 | 2024 | 2025 |
|---|---|---|---|
| Share Capital | 3.2 | 3.2 | 3.2 |
| FV | 10 | 10 | 10 |
| Reserves | 1530 | 2626 | 3292 |
| Borrowings | 0 | 0 | 0 |
| Trade Payables | 0.25 | 0.02 | 0.15 |
| Other Liabilities | 403.55 | 702.78 | 519.65 |
| Total Liabilities | 1937 | 3332 | 3815 |
About Company
The following table shows a 10-point analysis of PNB Finance And Industries Limited. We will discuss each point in detail after this table.
| Parameter | Key Numbers | Insights |
|---|---|---|
| Business Overview | FY25 Revenue from Operations ~₹10–11 cr Consolidated Total Income ~₹11 cr PAT ~₹7–7.2 cr PAT margin ~65–70% |
Core investment company (NBFC registered). Invests in shares, debentures, bonds, mutual funds & other securities. Legacy entity (incorporated 1947, renamed post-PNB divestment). No active lending; revenue primarily from investment income, dividends & gains. Low-scale but high-margin. |
| Industry & Market Position | Small investment holding company No dominant market share |
Minimal competitive positioning; acts as passive investor. Benefits from portfolio diversification & market gains. Vulnerable to market volatility; far from active NBFCs or asset managers. |
| Revenue Growth Trend | FY23–FY25 volatile/flat FY25 slight dip (~9% YoY decline) |
Inconsistent due to investment returns & market conditions. Dependent on equity/debt performance & realizations; no strong organic growth; below peers in dynamic investment space. |
| Profitability & Margins | EBITDA/OPM high on low base ROE positive but low absolute PAT margin ~65–70% |
Exceptional margins from low overheads & investment gains. PAT surge in some periods from realizations. Earnings quality moderate — sensitive to market fluctuations & non-operating items. |
| Cash Flow Quality | OCF likely positive from realizations Dividend payouts noted |
Cash from portfolio income & sales; low capex needs. Supports dividends; quality fair but timing affected by market cycles. |
| Balance Sheet Strength | Net worth ~₹3,200–3,300 cr Book value ~₹1,000+/share Debt near-nil |
Very strong & conservative. High liquidity from investments; significant downside protection from equity base & asset quality; minimal leverage risk. |
| Valuation Comfort | Unlisted price ~₹7,200–11,500 (Feb 2026) P/E high on low EPS Market cap ~₹2,300–3,700 cr |
Wide spreads reflect low liquidity & market dependency. Trading at ~2–3x P/B. Value mainly in asset backing but sensitive to portfolio performance. |
| Management & Governance | Promoter-linked (legacy structure) Transparent filings & annual reports |
Stable oversight with regular disclosures; clean governance. Benefits from legacy reputation; no major issues noted. |
| Growth Triggers & Catalysts | Portfolio performance & market gains Potential strategic moves No confirmed IPO/DRHP plans |
Upside from equity/bond rallies & realizations. Incremental from efficient management; low visibility currently as passive investor. |
| Liquidity & Exit Visibility | OTC liquidity only No confirmed IPO plans |
Low trading volume; capital highly locked. Real liquidity risk; exit challenging without a catalyst. |
Industries Limited is a non-banking financial company (NBFC), incorporated in 1894 (originally as The Punjab National Bank Ltd) and later converted into an investment company. The following are some of the key details about PNB Finance and Industries limited:
- Over time, it shifted from banking to investments: in 1981 it became PNB Finance & Industries Ltd to focus on investing in shares, debentures, bonds, units and other securities.
- Its model today is more of an investment holding company, rather than a traditional financial-services NBFC: it holds a large portfolio of financial assets, and its income comes primarily from interest, dividends, and gains on its investments.
- It is registered with the Reserve Bank of India as a non-deposit taking NBFC.
- According to its latest annual report, its total assets (as of March 2025) are ~₹3,815 crore, indicating a sizable investment portfolio.
Challenges in PNB Finance & Industries’ Business
- Limited operating business: Since its core operations are investments, and not lending or business-operations, its future growth depends heavily on how well its investment portfolio performs rather than on scalable NBFC operations.
- Market risk: Being so invested in equities or other securities means it's exposed to market volatility — any downturn in markets could reduce the value of its holdings.
- Regulatory Risk: Being an NBFC, there are compliance and regulatory risks; also, as an investment company, it could face scrutiny or risk around its shareholding structure. Indeed, in its FY24 report, it mentions SEBI-related orders and promoter-public shareholding issues.
- Cash Flow Risk: Since most of its income is from investments (interest, dividends), its operational cash flow might fluctuate depending on markets and the dividend cycles of its portfolio.
- Low Diversification of Income: Without a traditional business-revenue model (like lending or core operations), its income is concentrated on “financial income” rather than business-driven sales, which could limit growth levers.
Quick Summary
PNB Finance & Industries Ltd is a legacy investment-holding NBFC with a very conservative and capital-rich balance sheet. It doesn’t run a traditional finance business (like lending), but instead earns through its portfolio of financial investments (interest, dividends). This model gives it resilience (low debt) but also ties its future to market performance and regulatory outcomes. For an investor, it’s more like investing in a “financial-investment company” rather than a high-growth NBFC. Its strengths lie in its large AUM, debt-free status, and strong net worth — but volatility and market risk remain key challenges.
Shareholding Pattern of PNB Finance And Industries Limited
| Name | Holding |
|---|---|
| Bodies Corporates | 68.32% |
| Indian Public | 28.31% |
| Others | 3.37% |
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Frequently Asked Questions
PNB Finance and Industries Ltd unlisted shares represent equity ownership in a financial services arm promoted by Punjab National Bank. These shares are not listed on NSE or BSE and can be traded through private-market platforms like UnlistedKraft.
Yes, UnlistedKraft provides access to verified deals in PNB Finance and Industries Ltd unlisted shares. After completing your KYC and placing your order, the shares are usually credited to your demat account within 24 hours.
Unlisted shares carry certain risks such as lower liquidity and limited public disclosure. However, being backed by a reputable institution like Punjab National Bank adds credibility. UnlistedKraft ensures secure, verified, and transparent transaction processes.
Pricing depends on recent private transactions, investor sentiment, demand‑supply dynamics, and company fundamentals. UnlistedKraft keeps pricing updated regularly to reflect fair and current market valuation.
Yes, you must have a valid demat account to receive and hold unlisted shares such as those of PNB Finance and Industries Ltd.
There is no mandatory lock‑in period unless the company goes public. Investors typically hold shares until a liquidity event such as an IPO or acquisition to benefit from potential long‑term appreciation.
Yes, you can resell your shares through UnlistedKraft’s resale network, depending on buyer demand and prevailing market conditions.
Yes. Per SEBI regulations, pre‑IPO investors must observe a six‑month lock‑in period after the company’s shares are listed on a public stock exchange.
If held for more than two years, capital gains qualify as long‑term and are taxed at 20 percent with indexation. If sold within two years, gains are considered short‑term and taxed as per your income tax slab.
UnlistedKraft offers trusted access to unlisted share opportunities like PNB Finance and Industries Ltd, supported by transparent pricing, expert assistance, secure transactions, and fast credit of shares to your demat account.
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