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State Bank Of India

•
sbi.co.inBSE: 500112NSE: SBIN
Market Cap₹ 9,24,539 Cr.
Current Price
High / Low₹ 1,235 / 810
Stock P/E11.3
Book Value₹ 577
Price to Book1.77
Dividend Yield1.73 %
ROCE12.1 %
ROE17.3 %
Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Other Retail Banking-Retail Banking: 47.4% • Corporate/Wholesale Banking: 27.1% • Treasury: 24.7%

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 31.4% CAGR over last 5 years
  • Asset quality is healthy - gross NPA of just 1.5%
  • Comfortable capital adequacy - CAR of 15.4%
  • Strong provisioning - provision coverage ratio of 91.8%
  • Healthy loan book growth of 17.2% with stable asset quality

CONS

  • A large part of profit comes from other income (69.6% 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 (16.8%) trails the 5Y trend (31.4%)

* 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.SBIN1001.6010.72924538.661.7324579.0413.65136240.498.3612.1652.34
2.UNIONBANK183.406.78140000.332.735368.1729.7727427.101.2114.5769.42
3.PNB115.606.02132858.422.605339.15191.4033589.173.1213.2675.40
4.BANKBARODA234.906.69121475.303.621572.59-53.0835114.526.8411.2033.10
5.INDIANB855.009.01115165.422.133299.4848.7318095.1411.1116.2867.14
6.CANBK124.205.67112657.493.384864.0861.9632957.164.5514.4668.47
7.MAHABANK84.458.6264955.182.612020.5426.838034.6513.9016.5368.61
8.BANKINDIA140.705.4464056.043.303138.4677.9220096.908.8310.9773.18
9.IOB33.0110.6763566.000.001659.2449.258777.5718.8211.3154.56
10.UCOBANK23.9912.1930082.401.83652.4324.096744.5915.1011.0054.71
11.CENTRALBK30.586.0627679.193.921328.955.439725.9012.798.2767.83
12.PSB22.6711.6216085.691.72331.5123.163213.3710.409.0771.38
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
95,9751,01,3791,06,7341,11,0431,11,5261,13,8711,17,4271,19,5091,17,9961,19,6541,22,5561,23,0981,27,896
Interest Expended57,07061,87966,91869,38770,40172,25175,98176,89276,92376,67077,36678,71880,904
Net Interest Income38,90539,50039,81641,65541,12541,62041,44642,61841,07242,98445,19044,38046,992
12,06310,79111,45917,36911,16215,27111,04124,36717,34615,32618,35917,31415,923
Total Income00001,52,1251,63,8021,67,8541,79,5621,66,9921,75,8981,85,6481,81,0791,43,819
Operating Expenses25,67130,87430,93930,27725,83927,59628,93535,69827,87430,99930,68633,99029,386
Operating Profit25,29719,41720,33628,74826,44929,29423,55131,28630,54427,31132,86227,70433,529
Provisions & Contingencies2,5011156881,6103,4494,5069116,4424,7595,4004,5072,8725,047
Profit before Tax22,79619,30112,54827,13822,99924,78822,64024,84425,78526,50428,35524,83228,482
Tax %25.93%25.76%26.97%23.73%25.93%26.05%25.39%24.96%25.69%23.94%25.84%20.73%25.84%
Net Profit16,88414,3309,16420,69817,03518,33116,89118,64319,16020,16021,02819,68421,121
EPS1916102319211921212223212

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
00000004,15,1314,61,8644,82,797—
Interest Expended1,13,6591,45,6461,54,5201,59,2391,54,4411,54,7501,87,2632,55,2552,95,5243,09,6773,13,657
Net Interest Income-1,13,659-1,45,646-1,54,520-1,59,239-1,54,441-1,54,750-1,87,2631,59,8761,66,3401,73,120—
35,46144,60136,77545,22143,49640,56436,61651,68262,30873,44466,921
Total Income00000004,66,8135,24,1725,56,2416,86,444
00000001,24,8611,18,0691,23,549—
Operating Profit-1,13,659-1,45,646-1,54,520-1,59,239-1,54,441-1,54,750-1,87,26386,6971,10,5791,23,015—
2988,088-7625393,01422,26016,3234,91415,30817,538—
Profit before Tax14,855-15,5282,30724,80227,54143,42267,20681,78395,2711,05,4771,08,174
Tax %0.00%-0.00%0.00%0.00%0.00%0.00%0.00%25.32%25.58%24.12%24.20%
Net Profit10,484-6,54786214,48820,41031,67650,23261,07770,90180,03281,993
EPS13-800233556687987—

COMPOUNDED SALES GROWTH

10 Years:
11%
5 Years:
13%
3 Years:
13%

COMPOUNDED PROFIT GROWTH

10 Years:
23%
5 Years:
31%
3 Years:
17%

STOCK PRICE CAGR

10 Years:
15%
5 Years:
18%
3 Years:
20%
1 Year:
23%

RETURN ON EQUITY

10 Years:
11%
5 Years:
17%
3 Years:
18%
Last Year:
17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

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
1,87,4892,18,2362,20,0212,31,1152,52,9832,79,1963,26,7163,76,3544,40,2705,43,519
20,44,75127,06,34329,11,38632,41,62136,81,27740,51,53444,23,77849,16,07753,82,19059,75,642
3,17,6943,62,1424,03,0173,14,6564,17,2984,26,0434,93,1355,97,5615,63,5737,31,254
Other Liabilities & Provisions1,55,2351,67,1381,45,5971,63,1101,81,9802,29,9322,72,4572,88,8102,89,1293,71,674
Total Liabilities27,05,96634,54,75236,80,91439,51,39445,34,43049,87,59755,16,979618668762
ASSETS----------
1,27,9981,50,3971,76,9321,66,7362,13,2023,18,2652,47,0882,25,1422,27,2172,68,445
Balances with Banks & Money at Call43,97441,50145,55884,3611,29,83776,28760,81285,6601,13,0121,16,115
7,65,99010,60,9879,67,02210,46,95513,51,70514,81,44515,70,36616,71,34016,90,57318,01,254
15,71,07819,34,88021,85,87723,25,29024,49,49827,33,96731,99,26937,03,97141,63,31248,77,895
42,34539,20138,50938,02338,06737,46742,10142,12643,68554,163
1,54,0082,26,9942,66,3282,89,6143,51,7693,39,9253,97,0624,50,9644,37,8315,04,513
Total Assets27,05,96634,54,75236,80,91439,51,39445,34,43049,87,59755,16,979618668762

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
11,060-85,42534,62825,68889,86658,415-91,35219,02242,85831,894
Cash from Investing-3,148879-3,959-2,977-3,354-2,613-3,297-3,053-2,0126,717
Cash from Financing-1,7804,291-1,0883,3525,633-5,1785,202-13,855-13,324-2,802
6,132-80,25529,58126,06392,14450,625-89,4472,11427,52135,809

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
PER SHARE
EPS (₹)13.15-7.340.9716.2322.8735.4956.2968.4479.4486.70
Book Value (₹)196.53217.69219.91233.34258.05287.64335.98391.83463.67552.55
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%2.81%2.69%2.45%
ROA %0.41%-0.21%0.02%0.38%0.48%0.67%0.96%1.04%1.10%1.12%
ROE %6.97%-3.73%0.44%7.16%9.31%13.01%18.05%18.81%18.57%17.33%
0.00%0.00%0.00%0.00%0.00%0.00%0.00%59.02%51.64%50.11%
ASSET QUALITY
Gross NPA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%1.83%
Net NPA %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.47%
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%39.90%38.72%38.34%
Credit-Deposit Ratio %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.12%0.10%0.12%
0.00%0.00%0.00%0.00%0.00%0.00%0.00%14.28%14.25%15.40%
GROWTH & VALUATION
Net Profit Growth %5.36%-162.45%113.17%1580.31%40.88%55.19%58.58%21.59%16.08%12.88%
Book Value Growth %0.00%0.00%0.00%0.00%0.00%0.00%0.00%16.62%18.33%19.17%
P/E (x)0.00x0.00x0.00x0.00x0.00x0.00x0.00x11.00x9.71x11.30x
P/B (x)0.00x0.00x0.00x0.00x0.00x0.00x0.00x1.92x1.66x1.77x
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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