PNB GILTS Ltd , a subsidiary of Punjab National Bank, has announced its financial results for the fourth quarter and fiscal year ended March 31, 2025, revealing a mixed performance. The company's Board of Directors has also recommended a final dividend of ₹1 per equity share for FY 2024-25.

Q4 Financial Highlights

PNB GILTS reported a decrease in revenue for the fourth quarter of FY 2024-25:

• Q4 revenue: ₹4.19 billion, down from ₹4.74 billion in the same quarter of the previous year
• Standalone net profit: ₹750.20 million, up from ₹681.30 million year-over-year (approximately 10.1% growth)
• Sequential performance: Loss of ₹101.10 million compared to the previous quarter

Annual Performance

For the full fiscal year 2024-25, PNB GILTS demonstrated strong financial performance:

Dividend Announcement

The Board of Directors has recommended a final dividend of ₹1 per equity share for FY 2024-25, subject to shareholder approval. The total dividend payout amounts to ₹18.00 crore.

Other Key Metrics

• Capital Adequacy Ratio: 42.68% as of March 31, 2025 (RBI stipulation: 15%)
• Net Owned Funds: ₹1,517.41 crore (Minimum stipulated capital: ₹250 crore)
• Return on Average Net Owned Funds: 18.46% for FY 2024-25 (Previous year: 5.44%)

Management Commentary

The company's management expressed satisfaction with the overall performance for the year, highlighting the significant improvement in profitability despite challenging market conditions. They attributed the strong results to effective risk management strategies and optimal utilization of market opportunities.

PNB GILTS maintains a strong balance sheet with a robust capital adequacy ratio, positioning itself well for future growth opportunities in the primary dealership business.

PNB Gilts Ltd. , a subsidiary of Punjab National Bank, has announced a significant change in its leadership. The company's Board of Directors has appointed Pareed Sunil as the new Managing Director and Chief Executive Officer (MD & CEO), marking a crucial development in the firm's corporate governance structure.

Key Appointment Details

• New Leadership: Pareed Sunil, previously serving as Deputy CEO, has been appointed as an Additional Director with the designation of Managing Director & CEO.
• Tenure: The appointment is for a period of 3 years.
• Effective Date: The appointment will be effective from the date of approval from the Reserve Bank of India or the allotment of Director Identification Number (DIN) by the Ministry of Corporate Affairs, whichever is later.
• Shareholder Approval: The appointment is subject to the requisite sanction of the company's members.

About Pareed Sunil

Pareed Sunil brings a wealth of experience to his new role at PNB Gilts:

• Educational Background: MBA in Finance, PGPBF (Post Graduation Program in Banking & Finance), and CAIIB Certification (Certified Associate of Indian Institute of Bankers).
• Career History: Joined Punjab National Bank in 1992, accumulating extensive experience in the banking industry.
• Expertise: Rich experience spanning administrative offices, HR, Treasury, International Banking, Credit Management, Risk Assessment, and Compliance.
• International Exposure: Significant assignments in India and at PNB's Hong Kong branch and London subsidiary's back office operations.
• Recent Role: Serving as Deputy CEO of PNB Gilts Limited since August 1, 2023.

Corporate Governance Assurance

The company has confirmed that Pareed Sunil has not been debarred from holding the office of director by virtue of any order from SEBI or any other such authority, ensuring compliance with regulatory requirements.

Board Meeting Details

This appointment follows the company's earlier communication on December 16, 2024, where it was announced that a successor to the previous Managing Director & CEO, Sh. Vikas Goel, would be appointed within the stipulated timeline.

PNB Gilts Ltd. has stated that any further information regarding this appointment will be submitted to the stock exchanges in due course. The company's shares are listed on both the National Stock Exchange of India (Scrip Code: PNBGILTS) and BSE Limited (Scrip Code: 532366).

This leadership transition is expected to bring fresh perspectives to PNB Gilts, leveraging Pareed Sunil's extensive experience in the banking and finance sector to drive the company's future growth and strategic initiatives.