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State Bank Of India

•
sbi.co.inBSE: 500112NSE: SBIN
Market Cap₹ 9,20,293 Cr.
Current Price
High / Low₹ 1,235 / 820
Stock P/E10.7
Book Value₹ 636
Price to Book1.61
Dividend Yield1.74 %
ROCE12.2 %
ROE16.7 %
Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 36.5% • Corporate/Wholesale Banking: 21.4% • Insurance Business: 18.6%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence
84%
View full sector analysis →

PROS

  • Company has delivered good profit growth of 28.5% CAGR over last 5 years
  • Asset quality is healthy - gross NPA of just 1.5%
  • Comfortable capital adequacy - CAR of 15.4%
  • Company has consistently been profitable over the last 5 years
  • Healthy loan book growth of 17.2% with stable asset quality

CONS

  • A large part of profit comes from other income (173.3% of PBT)
  • Promoter holding has decreased over last 2 years: -2.1pp
  • Thin net interest margin of 2.5%
  • Growth is decelerating - 3Y profit CAGR (14.6%) trails the 5Y trend (28.5%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesBankBank - Public
Part ofNIFTY BANKNIFTY 50NIFTY ALPHA 50NIFTY DIV OPPS 50NIFTYLARGEMIDCAP250
S.No.Name
1.SBIN997.0010.68920292.571.7424579.0413.65136240.498.3612.1652.34
2.UNIONBANK178.006.58135878.182.815368.1729.7727427.101.2114.5769.42
3.PNB116.656.07134065.182.575339.15191.4033589.173.1213.2675.40
4.BANKBARODA237.806.77122974.993.571572.59-53.0835114.526.8411.2033.10
5.INDIANB852.908.99114882.562.143299.4848.7318095.1411.1116.2867.14
6.CANBK123.905.66112385.373.394864.0861.9632957.164.5514.4668.47
7.MAHABANK84.178.5964739.822.612020.5426.838034.6513.9016.5368.61
8.IOB33.1310.7163797.080.001659.2449.258777.5718.8211.3154.56
9.BANKINDIA139.805.4063646.303.333138.4677.9220096.908.8310.9773.18
10.UCOBANK23.9812.1830069.861.83652.4324.096744.5915.1011.0054.71
11.CENTRALBK30.756.1027833.063.901328.955.439725.9012.798.2767.83
12.PSB22.7811.6816163.741.71331.5123.163213.3710.409.0771.38
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
1,01,4601,07,3911,12,8681,17,4691,18,2421,21,0451,24,6541,26,8401,25,7291,28,0401,30,5901,31,0801,36,240
Interest Expended58,04562,95568,09270,64471,70173,61977,39778,22778,26678,00278,78379,95382,248
Net Interest Income43,41544,43644,77646,82546,54247,42647,25748,61347,46250,03851,80751,12753,993
30,87336,86540,20347,44533,88342,75843,20052,72241,26347,85755,05949,99943,821
Total Income00001,52,1251,63,8021,67,8541,79,5621,66,9921,75,8981,85,6481,81,0791,80,062
Operating Expenses00004,95,8895,71,2356,28,9226,69,6895,42,3276,57,7847,12,5067,13,88759,183
Operating Profit00003,08,3543,30,6022,75,6463,43,6633,44,9273,21,1703,56,1522,97,36938,632
Provisions & Contingencies000044,07655,85819,98274,69552,63564,86955,48536,6145,748
Profit before Tax25,20821,93615,24528,85226,42827,47425,56626,89729,22928,65730,06726,07632,884
Tax %25.67%25.31%25.99%24.66%25.53%26.41%25.00%25.86%26.01%24.96%27.24%22.68%25.25%
Net Profit000019,68120,22019,17519,94121,62721,50421,87620,16124,579
EPS2118122422222122242323213

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
00000004,39,1894,90,3135,14,933—
Interest Expended1,49,1151,46,6031,55,8671,61,1241,56,0101,56,1941,89,9812,59,7363,00,9433,15,0053,18,986
Net Interest Income-1,49,115-1,46,603-1,55,867-1,61,124-1,56,010-1,56,194-1,89,9811,79,4521,89,3691,99,928—
68,19377,55777,36598,1591,07,2221,17,0001,22,5341,55,3861,73,0311,97,7111,96,736
Total Income00000005,94,5756,63,3437,12,6447,22,687
00000002,35,8942,36,5742,62,650—
Operating Profit-1,49,115-1,46,603-1,55,867-1,61,124-1,56,010-1,56,194-1,89,98198,9451,25,8261,34,988—
1,7228,177-6066282,8213,47217,9997,71519,45120,905—
Profit before Tax945-12,2345,92930,05232,80949,73675,39891,2301,06,3751,14,0831,17,683
Tax %0.00%-0.00%0.00%0.00%0.00%0.00%0.00%25.31%25.72%25.35%25.12%
Net Profit-391-4,1873,06918,17724,28036,35656,55868,13879,01785,16888,121
EPS0000254062758790—

COMPOUNDED SALES GROWTH

10 Years:
9%
5 Years:
13%
3 Years:
14%

COMPOUNDED PROFIT GROWTH

10 Years:
21%
5 Years:
30%
3 Years:
14%

STOCK PRICE CAGR

10 Years:
15%
5 Years:
18%
3 Years:
19%
1 Year:
21%

RETURN ON EQUITY

10 Years:
10%
5 Years:
17%
3 Years:
18%
Last Year:
17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

May 15

₹ 17.35

Rs.17.3500 per share(1735%)Final Dividend

2025

May 16

₹ 15.90

Rs.15.9000 per share(1590%)Final Dividend

2024

May 22

₹ 13.70

Rs.13.7000 per share(1370%)Final Dividend

2023

May 31

₹ 11.30

Rs.11.3000 per share(1130%)Dividend

2022

May 25

₹ 7.10

Rs.7.1000 per share(710%)Dividend

2021

Jun 3

₹ 4

Rs.4.0000 per share(400%)Dividend

2017

May 26

₹ 2.60

Rs.2.6000 per share(260%)Dividend

2016

Jun 3

₹ 2.60

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
LIABILITIES----------
Equity Capital797892892892892892892892892923
2,16,3952,29,4292,33,6032,50,1682,74,6693,04,6963,58,0394,14,0474,86,1445,95,208
25,99,81127,22,17829,40,54132,74,16137,15,33140,87,41144,68,53649,66,53754,39,89860,43,097
3,36,3663,69,0794,13,7483,32,9014,33,7964,49,1605,21,1526,39,6106,10,8577,77,302
Other Liabilities & Provisions2,85,2722,90,2502,93,6433,31,4274,11,3045,07,5185,92,9636,97,0757,58,3678,86,270
Total Liabilities34,45,12236,16,44538,88,46441,97,49248,45,61953,60,88459,54,418673731832
ASSETS----------
1,61,0191,50,7691,77,3631,66,9682,13,4993,18,4922,47,3212,25,3562,27,4852,68,682
Balances with Banks & Money at Call1,12,17944,52048,15087,3471,34,20880,41370,9911,01,2161,30,4481,33,161
10,27,28111,83,79411,19,27012,28,28415,95,10017,76,49019,13,10821,10,54822,05,60123,59,502
18,96,88719,60,11922,26,85423,74,31125,00,59927,94,07632,67,90237,84,27342,50,83149,78,013
50,25140,30139,94139,60839,69939,22944,02444,13745,76356,447
1,96,8162,36,0172,76,1253,00,5033,62,0453,51,9024,10,6894,67,6774,53,4835,25,058
Total Assets34,45,12236,16,44538,88,46441,97,49248,45,61953,60,88459,54,418673731832

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
77,406-96,50829,55623,92989,91957,695-86,01421,63245,48438,097
Cash from Investing-2,83211,066-857-3,324-3,736-3,619-4,041-4,252-5,635-691
Cash from Financing-4,1965,5474485,4307,143-3,8456,386-9,896-10,737-3,427
70,377-79,89529,14726,03493,32550,232-83,6687,48429,11233,979

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
PER SHARE
EPS (₹)0.30-5.112.5822.1525.1139.6462.3575.1786.9190.24
Book Value (₹)227.75230.23235.13254.69282.35316.22371.08434.06515.07608.53
Dividend per Share (₹)2.600.000.000.004.007.1011.3013.7015.9017.35
PROFITABILITY
Net Interest Margin %0.00%0.00%0.00%0.00%0.00%0.00%0.00%2.88%2.78%2.58%
ROA %-0.01%-0.12%0.08%0.45%0.54%0.71%1.00%1.07%1.12%1.09%
ROE %-0.22%-2.16%1.48%8.32%10.13%13.61%18.44%18.97%18.66%16.68%
0.00%0.00%0.00%0.00%0.00%0.00%0.00%70.45%65.28%66.05%
ASSET QUALITY
Gross NPA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Net NPA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Provision Coverage %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%74.42%91.97%
Slippage Ratio %——————————
BALANCE SHEET & LIQUIDITY
CASA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%39.93%38.77%38.37%
Credit-Deposit Ratio %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.13%0.11%0.13%
0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
GROWTH & VALUATION
Net Profit Growth %-103.07%-971.85%173.29%492.26%33.58%49.74%55.57%20.47%15.97%7.78%
Book Value Growth %0.00%0.00%0.00%0.00%0.00%0.00%0.00%16.97%18.66%18.14%
P/E (x)0.00x0.00x0.00x0.00x0.00x0.00x0.00x10.01x8.88x10.86x
P/B (x)0.00x0.00x0.00x0.00x0.00x0.00x0.00x1.73x1.50x1.61x
0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.82%2.06%1.77%

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
57.5457.5157.4357.4357.4255.5055.5155.5255.47
11.1510.7010.269.939.329.5610.3311.4110.81
23.6123.9624.7924.9225.5427.6527.0426.1126.52
0.030.010.010.010.010.010.010.010.01
7.677.677.377.567.577.136.976.817.06

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08
Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-08 - State Bank Of India has informed the Exchange about Schedule of meet

2026-09-07
General Updates

2026-09-07 - State Bank Of India has informed the Exchange about Notice of Strike Served by United Forum of Bank Unions

2026-08-31
Change in Management

2026-08-31 - SBIN: State Bank of India has informed the Exchange about change in Senior Management

2026-08-28
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-28 - State Bank Of India has informed the Exchange about Outcome of Interaction with Institutional Investors

2026-08-21
Allotment of Securities

2026-08-21 - State Bank of India has informed the Exchange regarding allotment of 149200 Equity Shares kept in Abeyance

2026-08-21
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-21 - State Bank Of India has informed the Exchange about Schedule of meet

2026-08-17
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-17 - SBIN: State Bank of India has informed the Exchange about Interaction with Institutional Investors arranged by Motilal Oswal

2026-08-13
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-13 - State Bank Of India has informed the Exchange about Transcript

2026-08-12
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-12 - State Bank Of India has informed the Exchange about Schedule of meet

News

Recent coverage and analyst commentary for SBIN

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