Punjab & Sind Bank (PSB.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-178.5%

-₹14.93

vs ₹19.01 price

Levered DCF

-₹19.87

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.21

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	11.11×	23.24×	72.16×	13.22×	6.04×	-4.27×	-7.38×	-39.88×
P/B	1.04×	1.75×	2.77×	1.15×	0.73×	1.4×	1.3×	3.81×
P/S	1.07×	1.79×	4.07×	1.95×	1.26×	1.5×	0.85×	2.38×
EV / EBITDA	12.82×	16.92×	42.52×	11.37×	2.76×	-0.81×	1.69×	-20.37×
Gross margin	40.2%	41.1%	35.1%	43.6%	45.2%	39.4%	31.8%	31.1%
Operating margin	12.7%	10.2%	8.9%	18.2%	14.6%	-43.8%	-17.7%	-9.4%
Net margin	9.6%	7.8%	5.6%	14.7%	12.8%	-35.1%	-11.5%	-6.0%
Current ratio	0×	0.1×	0.19×	0.49×	0.62×	1.87×	0.45×	7.44×
Debt / equity	1.16×	0.89×	0.68×	0.6×	0.17×	0.32×	0.5×	0.48×
Interest coverage	0.21×	0.17×	0.14×	0.32×	0.27×	-0.72×	-0.26×	-0.14×
Dividend yield	0.3%	0.6%	0.8%	1.2%	0.0%	0.0%	0.0%	0.0%
Payout ratio	3.8%	13.3%	54.6%	16.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	9.4%	7.6%	3.8%	8.7%	7.4%	-32.7%	-17.7%	-9.5%
Return on invested capital	0.7%	3.3%	0.5%	16.0%	43.3%	-122.7%	-130.5%	-1.6%
Return on assets	0.7%	0.6%	0.4%	1.0%	0.9%	-2.5%	-1.0%	-0.5%
Free cash flow yield	22.8%	-2.3%	6.1%	769.7%	-59.7%	-53.9%	29.4%	-0.8%
Earnings yield	9.0%	4.3%	1.4%	7.6%	10.1%	-23.4%	-13.6%	-2.5%
Enterprise value	₹247.4B	₹250.9B	₹462.2B	₹201.1B	₹36.5B	₹26.6B	-₹24.8B	₹177.9B
Net debt / EBITDA	5.21×	1.14×	2.99×	1.54×	-4.99×	2.73×	6.66×	4.47×
Cash conversion cycle (days)	0	28	-483	-538	-708	-11	-904	-604