PNB Gilts Limited has received a credit rating reaffirmation from ICRA Limited, maintaining its strong financial standing in the market. The company disclosed this development to stock exchanges on January 30, 2026, under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Credit Rating Details

ICRA Limited, through its letter dated January 29, 2026, reaffirmed the credit ratings for two key financial programmes of PNB Gilts Limited. The rating agency maintained its assessment of the company's creditworthiness across both programmes.

The [ICRA] A1+ rating, pronounced as "ICRA A one plus rating," represents the highest short-term credit rating category, indicating the company's strong capacity for timely payment of financial obligations.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, with Company Secretary and Compliance Officer Monika Kochar signing the intimation letter. The communication was sent to both the National Stock Exchange of India Limited and BSE Limited, where PNB Gilts Limited shares are listed under scrip codes PNBGILTS and 532366 respectively.

Financial Programme Overview

The reaffirmed ratings cover a combined programme value of Rs. 2000 crore, split equally between Commercial Paper and Inter-Corporate Deposit programmes. Both programmes carry the same [ICRA] A1+ rating, reflecting consistent credit quality assessment across different financial instruments. This reaffirmation provides continued market confidence in the company's short-term financial obligations and borrowing programmes.

PNB Gilts has delivered an impressive financial turnaround in its third quarter results, demonstrating strong operational recovery and growth momentum. The company's performance marks a significant shift from losses to profitability, accompanied by robust revenue expansion.

Financial Performance Overview

The company's financial metrics show a remarkable transformation in its third quarter performance:

Profitability Turnaround

PNB Gilts achieved a net profit of ₹53.90 crore in the third quarter, representing a complete turnaround from the net loss of ₹10.10 crore recorded in the same quarter of the previous year. This swing from red to black demonstrates the company's successful execution of its operational strategies and improved market conditions.

The profitability improvement reflects enhanced operational efficiency and better risk management practices. The company's ability to generate positive returns indicates strengthened fundamentals and improved business performance across its operations.

Revenue Growth Momentum

The company reported revenue of ₹420.00 crore for the third quarter, marking a solid 16.67% year-on-year growth from ₹360.00 crore in the corresponding quarter of the previous fiscal year. This revenue expansion demonstrates the company's ability to grow its business operations and capture market opportunities effectively.

The consistent revenue growth, combined with the return to profitability, indicates that PNB Gilts has successfully navigated previous challenges and positioned itself for sustained performance. The company's financial results reflect improved operational metrics and stronger business fundamentals in the current operating environment.