Share price
₹1,111.4 latest close · +4.4% over the last 90 sessions
₹1,111.4 month-end · +22.8% over 12 months
₹1,111.4 month-end · +43.7% over 3 years
₹1,111.4 month-end · +48.7% since Jan '19
52-week range ₹729.60 to ₹1224.80 · 1-year volatility 32.7%
Was the rally earned?
Both mattered.
- Per-share earnings added 14 points and the multiple added 9 points (P/E 11.6x to 12.5x).
- The share count barely moved.
Mostly yes, with a catch.
- Per-share earnings added 95 points, but investors now pay less per rupee of profit (P/E 19.2x to 12.5x), which took 52 points back.
- The share count barely moved.
Mostly yes, with a catch.
- Per-share earnings added 146 points, but investors now pay less per rupee of profit (P/E 12.7x to 12.5x), which took 2 points back.
- The share count barely moved.
What do "pts" mean?
"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.
Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.
Net profit is trailing twelve months as reported with a 60-day lag.
How rough has the ride been?
Drawdown from peak
Largest drawdowns
-84.8% (2019-02 peak to 2020-03 low, recovered 2023-11)
-34.0% (2024-09 peak to 2026-03 low, recovered 2026-08)
-30.2% (2024-01 peak to 2024-03 low, recovered 2024-08)
Most recent volume spikes
2026-10-29: 5.5x the 50-day median, price -1.1% that day
2026-09-17: 5.6x the 50-day median, price -2.7% that day
2026-08-05: 7x the 50-day median, price +3.9% that day
Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).
Is it expensive against its own past and its peers?
Usual range 0.8x to 1.8x since 2019-01.
Close to the Finance median.
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How to read this
Shaded band: 10th to 90th percentile of the company's own P/B history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).
Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.
Where does it rank among Finance peers?
Each cell is the company's percentile rank among its Finance peers (banks and financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Where it ranks today
- ROE (approx.)65th▲ 13 pts vs a year ago
- EPS growth48th▼ 34 pts vs a year ago
- P/B ↓50th▼ 10 pts vs a year ago
- 12M momentum86th▲ 38 pts vs a year ago
- FII + DII89thflat vs a year ago
Rank history
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Finance sector page Watch it move against Finance in the Observatory
What is the price implying?
At normalised P/E (five-year average earnings) of 19.0x, a holder earning 12%/yr needs earnings to grow about 14.7%/yr for 10 years, then trade at 15x.
Over time
Implied growth by month (solid) and delivered growth (dashed).
Change the assumptions
| Exit P/E / return | 11% | 12% | 13% |
|---|---|---|---|
| 12x | 16.2% | 17.3% | 18.3% |
| 15x | 13.7% | 14.7% | 15.7% |
| 20x | 10.4% | 11.4% | 12.4% |
Drag a slider to test other assumptions
Implied: 14.7%/yrLooking back
- Jan 2020Price implied 3%/yr; EPS has since grown 3%/yr (7.0 yrs)
- Jan 2021Price implied 4%/yr; EPS has since grown 15%/yr (6.0 yrs)
- Jan 2022Price implied 7%/yr; EPS has since grown 10%/yr (5.0 yrs)
Past comparisons cover only companies listed today (survivorship bias) and say nothing about future outcomes.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.
What prices imply across Finance The market-wide Expectations lists
Key figures
- Share Priceclose 9 Nov
- ₹1111.40
- P/E
- 12.5x
- Market Cap
- ₹28986 cr
- Revenue (TTM)
- ₹8692 cr
- P/S
- 3.3x
- P/B
- 1.5x
- ROE
- 13.0%
- Debt / Equity
- 3.7x
- Promoter Holding
- 28.0%
- 12M Momentum
- 22.8%
52-week range
Price risk
Balance sheet & cash
Are profits backed by cash?
Tax rate22%Within range
Median quarterly effective tax rate over about 2.5 years: 22.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Tap a check to see how it is measured
Cash conversion and receivable days are not meaningful for banks and NBFCs, so only the other-income and tax-rate checks are shown.
How to read this
Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.
Who has been buying and selling?
- Over 3 years, DIIs added 38.0 pts; FIIs trimmed 8.0 pts.
- The number of shareholders rose from 1.2 lakh to 1.7 lakh (+44%) between Sep 2023 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
What happened next to similar setups
- We found 50 past situations where a bank, NBFC or insurer looked like PNB HOUSING FINANCE LIMITED today on valuation, return on capital, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −11% to +32% vs the market, against −1% for all financial companies in the same months.
- The analogs' median sat above that base rate (gap +7.5%, 80% range +1.2% to +11.7%), but the matches cluster in only 5 distinct 12-month windows.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 2 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 29 months · 2020–2025
The closest matches
| Company | When | P/E | P/B | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| FEDERALBNK Finance |
Oct 2022 | 14x | 1.4x | +35% | −2% | −3% |
| CUB Finance |
Oct 2025 | 15x | 1.8x | +30% | −4% | +32% |
| KARURVYSYA Finance |
Aug 2024 | 11x | 1.8x | +83% | −4% | +25% |
| UJJIVANSFB Finance |
Oct 2025 | 19x | 1.6x | +36% | −4% | +8% |
| MANAPPURAM Finance |
Jul 2025 | 18x | 1.8x | +18% | −10% | +40% |
Show the other 3 matches
| Company | When | P/E | P/B | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| EQUITASBNK Finance |
Dec 2023 | 20x | 2.3x | +81% | −3% | −48% |
| SHRIRAMFIN Finance |
Feb 2020 | 11x | 2.0x | +5% | −11% | −19% |
| LICHSGFIN Finance |
Sep 2022 | 10x | 0.9x | −3% | −9% | −1% |
How reliable is this?
Matched on P/E, P/B, ROE, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, revenue growth and 12-month momentum. One match per company and at most 7 from any one month.
Independent periods: the matches fall in 5 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What changed?
30 events since Jan '23
- OctPriceVolume reached 5.5x its 50-day median on 2026-10-29; price -1.1% that day.
- SepPeer rankSlipped to the 3rd quartile of Finance on EPS growth (from the 2nd quartile).
- AugPriceRegained the 2024-09 peak, 5 months after the low.
- AugPriceVolume reached 7.0x its 50-day median on 2026-08-05; price +3.9% that day.
- JunResultsRevenue (TTM) reached a new high of ₹8,505 cr.
- JunPeer rankSlipped to the 2nd quartile of Finance on EPS growth (from the top quartile).
- AprPriceVolume reached 22.3x its 50-day median on 2026-04-21; price +8.0% that day.
- MarPriceFell 34% from the Sep 2024 peak to the Mar 2026 low.
Show 22 earlier events
- JanPriceVolume reached 9.0x its 50-day median on 2026-01-22; price -7.6% that day.
- AugPriceVolume reached 40.3x its 50-day median on 2025-08-01; price -18.0% that day.
- JunInstitutionsFII + DII holding rose 8.7 pts over 2 quarters to 51.3%.
- JunPeer rankMoved into the 2nd quartile of Finance on ROE (from the 3rd quartile).
- JunDividendStarted paying a dividend (payout 7% of profit).
- AprPriceVolume reached 15.1x its 50-day median on 2025-04-29; price +4.5% that day.
- JanPriceVolume reached 6.1x its 50-day median on 2025-01-22; price +1.4% that day.
- NovPriceVolume reached 23.0x its 50-day median on 2024-11-13; price -6.0% that day.
- SepInstitutionsFII + DII holding fell 3.7 pts over 2 quarters to 28.8%.
- AugPriceRegained the 2024-01 peak, 5 months after the low.
- AugPriceVolume reached 9.8x its 50-day median on 2024-08-21; price +10.1% that day.
- JunPeer rankMoved into the top quartile of Finance on EPS growth (from the 3rd quartile).
- JunSharesShare count is up 53.8% over 12 months.
- JunPriceVolume reached 45.6x its 50-day median on 2024-06-20; price -5.7% that day.
- MarPriceFell 30% from the Jan 2024 peak to the Mar 2024 low.
- JanPriceVolume reached 20.6x its 50-day median on 2024-01-16; price +6.4% that day.
- NovPriceRegained the 2019-02 peak, 44 months after the low.
- OctPriceVolume reached 15.1x its 50-day median on 2023-10-03; price +6.9% that day.
- AugPriceVolume reached 5.1x its 50-day median on 2023-08-21; price +3.5% that day.
- JunResultsYear-on-year EPS growth turned positive.
- JunPeer rankMoved into the 3rd quartile of Finance on EPS growth (from the bottom quartile).
- JanPriceVolume reached 24.0x its 50-day median on 2023-01-02; price +7.4% that day.
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Monthly history95 months · 2019-01 to 2026-11
| Month | P/E | Revenue (TTM) | ROE | Debt / Equity |
|---|---|---|---|---|
| 2026-11 | 12.5x | ₹8692 cr | 13.0% | 3.7x |
| 2026-10 | 11.9x | ₹8692 cr | 13.0% | 3.7x |
| 2026-09 | 12.6x | ₹8692 cr | 13.0% | 3.7x |
| 2026-08 | 13.1x | ₹8505 cr | 13.0% | 3.7x |
| 2026-07 | 12.0x | ₹8505 cr | 13.0% | 3.7x |
| 2026-06 | 11.8x | ₹8505 cr | 13.0% | 3.7x |
| 2026-05 | 12.3x | ₹8345 cr | 12.0% | 3.7x |
| 2026-04 | 12.5x | ₹8345 cr | 12.0% | 3.7x |
| 2026-03 | 9.0x | ₹8345 cr | 12.0% | 3.7x |
| 2026-02 | 10.0x | ₹8168 cr | 12.0% | 3.7x |
| 2026-01 | 10.0x | ₹8168 cr | 12.0% | 3.7x |
| 2025-12 | 11.5x | ₹8168 cr | 12.0% | 3.7x |
| 2025-11 | 11.6x | ₹7919 cr | 12.0% | 3.7x |
| 2025-10 | 11.9x | ₹7919 cr | 12.0% | 3.7x |
| 2025-09 | 11.0x | ₹7919 cr | 12.0% | 3.7x |
| 2025-08 | 10.1x | ₹7666 cr | 12.0% | 3.7x |
| 2025-07 | 13.2x | ₹7666 cr | 12.0% | 3.7x |
| 2025-06 | 14.9x | ₹7666 cr | 12.0% | 3.7x |
| 2025-05 | 14.9x | ₹7454 cr | 12.0% | 3.7x |
| 2025-04 | 14.4x | ₹7454 cr | 12.0% | 3.7x |
| 2025-03 | 12.5x | ₹7454 cr | 12.0% | 3.7x |
| 2025-02 | 11.8x | ₹7267 cr | 12.0% | 3.7x |
| 2025-01 | 13.6x | ₹7267 cr | 12.0% | 3.7x |
| 2024-12 | 13.6x | ₹7267 cr | 12.0% | 3.7x |
| 2024-11 | 14.5x | ₹7166 cr | 12.0% | 3.7x |
| 2024-10 | 15.8x | ₹7166 cr | 12.0% | 3.7x |
| 2024-09 | 16.0x | ₹7166 cr | 12.0% | 3.7x |
| 2024-08 | 16.8x | ₹7053 cr | 12.0% | 3.7x |
| 2024-07 | 13.9x | ₹7053 cr | 12.0% | 3.7x |
| 2024-06 | 13.5x | ₹7053 cr | 12.0% | 3.7x |
| 2024-05 | 17.9x | ₹6527 cr | 10.0% | 4.9x |
| 2024-04 | 19.7x | ₹6527 cr | 10.0% | 4.9x |
| 2024-03 | 15.6x | ₹6527 cr | 10.0% | 4.9x |
| 2024-02 | 17.2x | ₹6527 cr | 10.0% | 4.9x |
| 2024-01 | 19.5x | ₹6527 cr | 10.0% | 4.9x |
| 2023-12 | 19.4x | ₹6527 cr | 10.0% | 4.9x |
| 2023-11 | 19.2x | ₹6527 cr | 10.0% | 4.9x |
| 2023-10 | 18.3x | ₹6527 cr | 10.0% | 4.9x |
| 2023-09 | 17.2x | ₹6527 cr | 10.0% | 4.9x |
| 2023-08 | 16.1x | ₹6527 cr | 10.0% | 4.9x |
| 2023-07 | 15.7x | ₹6527 cr | 10.0% | 4.9x |
| 2023-06 | 14.1x | ₹6527 cr | 10.0% | 4.9x |
| 2023-05 | 15.7x | ₹6196 cr | 9.0% | 5.4x |
| 2023-04 | 13.8x | ₹6196 cr | 9.0% | 5.4x |
| 2023-03 | 13.2x | ₹6196 cr | 9.0% | 5.4x |
| 2023-02 | 15.3x | ₹6196 cr | 9.0% | 5.4x |
| 2023-01 | 14.2x | ₹6196 cr | 9.0% | 5.4x |
| 2022-12 | 13.7x | ₹6196 cr | 9.0% | 5.4x |
| 2022-11 | 11.5x | ₹6196 cr | 9.0% | 5.4x |
| 2022-10 | 11.3x | ₹6196 cr | 9.0% | 5.4x |
| 2022-09 | 10.1x | ₹6196 cr | 9.0% | 5.4x |
| 2022-08 | 9.0x | ₹6196 cr | 9.0% | 5.4x |
| 2022-07 | 9.0x | ₹6196 cr | 9.0% | 5.4x |
| 2022-06 | 8.5x | ₹6196 cr | 9.0% | 5.4x |
| 2022-05 | 7.5x | ₹7604 cr | 11.0% | 6.7x |
| 2022-04 | 8.7x | ₹7604 cr | 11.0% | 6.7x |
| 2022-03 | 8.7x | ₹7604 cr | 11.0% | 6.7x |
| 2022-02 | 9.4x | ₹7604 cr | 11.0% | 6.7x |
| 2022-01 | 10.0x | ₹7604 cr | 11.0% | 6.7x |
| 2021-12 | 11.4x | ₹7604 cr | 11.0% | 6.7x |
| 2021-11 | 12.7x | ₹7604 cr | 11.0% | 6.7x |
| 2021-10 | 11.1x | ₹7604 cr | 11.0% | 6.7x |
| 2021-09 | 14.3x | ₹7604 cr | 11.0% | 6.7x |
| 2021-08 | 15.1x | ₹7604 cr | 11.0% | 6.7x |
| 2021-07 | 15.4x | ₹7604 cr | 11.0% | 6.7x |
| 2021-06 | 15.7x | ₹7604 cr | 11.0% | 6.7x |
| 2021-05 | 17.4x | ₹8482 cr | 8.0% | 8.5x |
| 2021-04 | 12.3x | ₹8482 cr | 8.0% | 8.5x |
| 2021-03 | 12.4x | ₹8482 cr | 8.0% | 8.5x |
| 2021-02 | 14.6x | ₹8482 cr | 8.0% | 8.5x |
| 2021-01 | 11.1x | ₹8482 cr | 8.0% | 8.5x |
| 2020-12 | 12.1x | ₹8482 cr | 8.0% | 8.5x |
| 2020-11 | 12.5x | ₹8482 cr | 8.0% | 8.5x |
| 2020-10 | 11.7x | ₹8482 cr | 8.0% | 8.5x |
| 2020-09 | 11.2x | ₹8482 cr | 8.0% | 8.5x |
| 2020-08 | 9.5x | ₹8482 cr | 8.0% | 8.5x |
| 2020-07 | 6.9x | ₹8482 cr | 8.0% | 8.5x |
| 2020-06 | 6.9x | ₹8482 cr | 8.0% | 8.5x |
| 2020-05 | 3.1x | ₹7679 cr | 17.0% | 9.5x |
| 2020-04 | 3.5x | ₹7679 cr | 17.0% | 9.5x |
| 2020-03 | 2.9x | ₹7679 cr | 17.0% | 9.5x |
| 2020-02 | 6.4x | ₹7679 cr | 17.0% | 9.5x |
| 2020-01 | 7.8x | ₹7679 cr | 17.0% | 9.5x |
| 2019-12 | 7.8x | ₹7679 cr | 17.0% | 9.5x |
| 2019-11 | 9.5x | ₹7679 cr | 17.0% | 9.5x |
| 2019-10 | 9.6x | ₹7679 cr | 17.0% | 9.5x |
| 2019-09 | 10.4x | ₹7679 cr | 17.0% | 9.5x |
| 2019-08 | 11.5x | ₹7679 cr | 17.0% | 9.5x |
| 2019-07 | 12.7x | ₹7679 cr | 17.0% | 9.5x |
| 2019-06 | 13.9x | ₹7679 cr | 17.0% | 9.5x |
| 2019-05 | 21.2x | ₹5489 cr | 13.0% | 8.2x |
| 2019-04 | 17.8x | ₹5489 cr | 13.0% | 8.2x |
| 2019-03 | 21.8x | ₹5489 cr | 13.0% | 8.2x |
| 2019-02 | 22.6x | ₹5489 cr | 13.0% | 8.2x |
| 2019-01 | 22.7x | ₹5489 cr | 13.0% | 8.2x |