State Bank of India

SBIN

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Market Cap

₹ 8,87,432 Cr

P/E

11.30

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

SLUGGISH

Profitability

MODERATE MARGIN

Technicals

Bullish

Risk

LOW RISK

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Price

PE Ratio

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Overview

Detailed Summary

State Bank of India (SBI) is a leading Indian multinational public sector bank providing comprehensive banking and financial services worldwide.

The bank boasts industry-leading credit growth at 12.73% YoY, driven by increased market share in key segments like home loans and auto loans, indicating robust performance.

SBI's digital expansion continues with YONO being a pivotal platform, now accounting for 64% of savings accounts opened in the latest quarter, showcasing digital-centric growth.

The bank's successful QIP raising ₹25,000 crores, the largest in India, exemplifies strong investor confidence and enhances its capital for future expansion.

Project SARAL, aimed at revamping operational processes, represents SBI's commitment to innovation and service excellence, preparing the bank for future challenges.

Sector

Banks

Industry

Banks - Public Sector

Market Cap

8,87,432 Cr

Volatility

Moderate Risk

P/E Ratio

11.3

Industry P/E

9.3

PEG Ratio

1.6

P/B Ratio

1.6

52W High

999.10

52W Low

679.65

Sales CAGR

11.78%

18.85%

12.44%

10Y

12.21%

Profit CAGR

15.97%

30.81%

37.38%

10Y

24.38%

ROE

TTM

14.45%

15.88%

14.01%

10Y

9.75%

ROCE

TTM

5.48%

11.33%

11.14%

10Y

11.34%

Technicals

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Forecasts

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SBIN	961.40	8,87,432 Cr	11.30	1.64	1.60	14.45	5.48	1.07
BANKBARODA	282.85	1,46,272 Cr	7.60	0.92	2.96	11.86	5.59	0.98
PNB	117.00	1,34,467 Cr	7.89	1.00	2.48	11.23	5.95	0.83
CANBK	147.20	1,33,520 Cr	6.97	1.23	2.72	14.87	6.09	0.95
UNIONBANK	153.15	1,16,909 Cr	6.32	0.97	3.10	14.31	6.39	1.21
INDIANB	773.05	1,04,127 Cr	8.83	1.49	2.10	14.43	5.88	1.20
IOB	36.57	70,421 Cr	15.97	2.28	0.00	12.46	5.66	0.99

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	1,01,460	1,07,391	1,12,868	1,17,469	1,18,242	1,21,045	1,24,654	1,26,997	1,25,729	1,28,041
Expenses	49,080	59,365	62,635	65,418	53,997	62,709	64,890	74,438	59,496	72,265
Interest	58,045	62,955	68,092	70,644	71,701	73,619	77,397	78,227	78,266	78,002
Financing Profit	-5,665	-14,930	-17,858	-18,593	-7,455	-15,283	-17,634	-25,669	-12,034	-22,227
Financing Margin %	-5.58	-13.90	-15.82	-15.83	-6.30	-12.63	-14.15	-20.21	-9.57	-17.36
Other Income	30,873	36,865	33,103	47,445	33,883	42,758	43,200	52,565	41,263	50,884
Depreciation	—	—	—	—	—	—	—	—	—	—
Profit Before Tax	25,208	21,936	15,245	28,852	26,428	27,474	25,566	26,897	29,229	28,657
Tax %	25.67	25.31	25.99	24.66	25.53	26.41	25.00	25.86	26.01	24.96
Net Profit	18,537	16,100	11,064	21,384	19,325	19,783	18,853	19,600	21,201	21,137
EPS in Rs	20.08	17.44	11.99	23.17	20.93	21.44	20.42	21.23	22.97	22.81
Gross NPA %	0.00	2.53	0.00	0.00	0.00	2.13	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.63	0.00	0.00	0.00	0.52	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	2,30,447	2,28,970	2,53,322	2,69,852	2,78,115	2,89,973	3,50,845	4,39,189	4,90,938	4,98,424
Expenses	1,45,666	1,69,064	1,66,104	1,72,909	1,92,821	1,97,349	2,04,303	2,39,750	2,52,043	2,61,534
Interest	1,49,115	1,46,603	1,55,867	1,61,124	1,56,010	1,56,194	1,89,981	2,59,736	3,00,943	3,07,509
Financing Profit	-64,334	-86,697	-68,649	-64,181	-70,715	-63,571	-43,439	-60,297	-62,049	-70,619
Financing Margin %	-27.92	-37.86	-27.10	-23.78	-25.43	-21.92	-12.38	-13.73	-12.64	-14.17
Other Income	68,193	77,557	76,899	92,377	1,07,222	1,17,000	1,22,534	1,55,386	1,72,406	1,79,786
Depreciation	2,915	3,105	3,496	3,662	3,711	3,691	3,696	3,849	3,991	0.00
Profit Before Tax	945	-12,245	5,220	30,317	32,796	49,739	75,399	91,240	1,06,365	1,09,167
Tax %	141.35	65.80	41.21	40.04	25.97	26.91	24.99	25.32	25.71	27.23
Net Profit	-97	-3,749	3,351	21,140	23,888	37,183	57,750	69,543	80,523	79,438
EPS in Rs	0.20	-5.05	2.49	21.42	24.27	38.33	60.28	72.68	84.02	87.43
Dividend Payout %	838.71	0.00	0.00	0.00	15.93	17.91	18.12	18.23	18.29	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	776	797	892	892	892	892	892	892	892	892
Reserves	1,79,816	2,16,395	2,29,429	2,33,603	2,50,168	2,74,669	3,04,696	3,58,039	4,14,047	4,86,144
Borrowings	26,15,257	29,36,176	30,91,258	33,54,289	36,07,061	41,49,127	45,36,570	49,89,687	56,06,147	60,50,755
Other Liabilities	2,77,634	2,91,753	2,94,853	2,99,683	3,39,371	4,20,930	5,18,725	6,05,800	7,12,693	7,76,393
Total Liabilities	30,73,483	34,45,122	36,16,433	38,88,467	41,97,492	48,45,619	53,60,884	59,54,418	67,33,779	73,14,185
Fixed Assets	15,415	51,189	42,035	39,941	39,608	41,600	41,032	45,880	46,072	47,716
CWIP	786	695	925	762	470	116	28	66	42	41
Investments	8,07,375	10,27,281	11,83,794	11,19,248	12,28,284	15,95,100	17,76,490	19,13,108	21,10,548	22,05,601
Other Assets	22,49,908	23,65,957	23,89,679	27,28,516	29,29,130	32,08,801	35,43,334	39,95,365	45,77,116	50,60,827
Total Assets	30,73,483	34,45,122	36,16,433	38,88,467	41,97,492	48,45,619	53,60,884	59,54,418	67,33,779	73,14,185

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	14,477	77,406	-96,508	29,556	23,929	89,919	57,695	-86,014	21,632	48,486
Cash from Investing Activity	-2,747	-4,572	13,053	220	-555	-3,670	-2,652	-966	-3,476	-3,387
Cash from Financing Activity	4,348	-4,196	5,547	448	5,430	7,143	-3,845	6,386	-9,896	-13,739
Net Cash Flow	16,078	68,638	-77,908	30,223	28,803	93,392	51,198	-80,593	8,260	31,361

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Jul 2025	Sep 2025
Promoters	57.49%	57.47%	57.49%	57.49%	57.54%	57.54%	57.51%	57.43%	57.43%	57.42%	55.50%	55.50%
FIIs	9.88%	10.36%	10.72%	10.92%	11.09%	11.16%	10.70%	10.26%	9.94%	9.32%	9.97%	9.57%
DIIs	25.22%	24.87%	24.39%	24.19%	23.99%	23.64%	24.12%	24.95%	25.08%	25.70%	27.25%	27.80%
Public	7.40%	7.30%	7.40%	7.40%	7.38%	7.67%	7.67%	7.35%	7.56%	7.56%	7.28%	7.13%
Total Shareholders	29,93,298	29,48,536	30,29,116	30,47,685	31,50,350	36,13,127	37,91,512	37,19,913	38,26,549	37,54,459	37,30,671	36,18,554

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Sep 05, 2024	Ravi shankar	Insider - Designated Person	Disposal	887.65	0.02 Cr	200	—
Sep 05, 2024	Ravi shankar	Insider - Designated Person	Acquisition	808.95	0.03 Cr	400	—
Sep 05, 2024	Ravi shankar	Insider - Designated Person	Disposal	836.08	0.01 Cr	100	—
Sep 05, 2024	Ravi shankar	Insider - Designated Person	Disposal	757.35	0.03 Cr	400	—
Sep 05, 2024	Ravi shankar	Insider - Designated Person	Acquisition	757.70	0.03 Cr	400	—

Projection

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Announcements

Last 7 days

Newest

Sentiment

Analyst/Investor Meet

15 hours ago

Investor Meeting Outcome by SBI

State Bank of India disclosed the results of an investor interaction meeting held on December 16, 2025, organized by Citi India.

Regulatory Filing

21 hours ago

Regulatory Announcement Regarding Share Transfers

State Bank of India published a notice regarding the transfer of unclaimed shares to IEPF and a special window for re-lodging share transfer requests.

Change in Directors

1 day ago

Appointment of New Managing Director

Shri Ravi Ranjan has been appointed as the Managing Director of State Bank of India effective from December 15, 2025.

Regulatory Filing

1 day ago

Signing of EURO 150 Million Line of Credit

State Bank of India will sign a EURO 150 million Line of Credit with KfW for financing Climate Friendly Energy Generation projects on 16.12.2025.

Equity Subscription

5 days ago

State Bank of India Acquires Stake in IDPIC

State Bank of India will subscribe to 1 crore equity shares, acquiring a 50% stake in Indian Digital Payment Intelligence Corporation.

Regulatory Filing

6 days ago

RBI Approval for New Section 8 Company

State Bank of India receives RBI approval to establish a Section 8 company for a Digital Payments Intelligence Platform.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Showing 1 - 8 of 33

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	1,01,460	1,07,391	1,12,868	1,17,469	1,18,242	1,21,045	1,24,654	1,26,997	1,25,729	1,28,041
Expenses	49,080	59,365	62,635	65,418	53,997	62,709	64,890	74,438	59,496	72,265
Interest	58,045	62,955	68,092	70,644	71,701	73,619	77,397	78,227	78,266	78,002
Financing Profit	-5,665	-14,930	-17,858	-18,593	-7,455	-15,283	-17,634	-25,669	-12,034	-22,227
Financing Margin %	-5.58	-13.90	-15.82	-15.83	-6.30	-12.63	-14.15	-20.21	-9.57	-17.36
Other Income	30,873	36,865	33,103	47,445	33,883	42,758	43,200	52,565	41,263	50,884
Depreciation	—	—	—	—	—	—	—	—	—	—
Profit Before Tax	25,208	21,936	15,245	28,852	26,428	27,474	25,566	26,897	29,229	28,657
Tax %	25.67	25.31	25.99	24.66	25.53	26.41	25.00	25.86	26.01	24.96
Net Profit	18,537	16,100	11,064	21,384	19,325	19,783	18,853	19,600	21,201	21,137
EPS in Rs	20.08	17.44	11.99	23.17	20.93	21.44	20.42	21.23	22.97	22.81
Gross NPA %	0.00	2.53	0.00	0.00	0.00	2.13	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.63	0.00	0.00	0.00	0.52	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	2,30,447	2,28,970	2,53,322	2,69,852	2,78,115	2,89,973	3,50,845	4,39,189	4,90,938	4,98,424
Expenses	1,45,666	1,69,064	1,66,104	1,72,909	1,92,821	1,97,349	2,04,303	2,39,750	2,52,043	2,61,534
Interest	1,49,115	1,46,603	1,55,867	1,61,124	1,56,010	1,56,194	1,89,981	2,59,736	3,00,943	3,07,509
Financing Profit	-64,334	-86,697	-68,649	-64,181	-70,715	-63,571	-43,439	-60,297	-62,049	-70,619
Financing Margin %	-27.92	-37.86	-27.10	-23.78	-25.43	-21.92	-12.38	-13.73	-12.64	-14.17
Other Income	68,193	77,557	76,899	92,377	1,07,222	1,17,000	1,22,534	1,55,386	1,72,406	1,79,786
Depreciation	2,915	3,105	3,496	3,662	3,711	3,691	3,696	3,849	3,991	0.00
Profit Before Tax	945	-12,245	5,220	30,317	32,796	49,739	75,399	91,240	1,06,365	1,09,167
Tax %	141.35	65.80	41.21	40.04	25.97	26.91	24.99	25.32	25.71	27.23
Net Profit	-97	-3,749	3,351	21,140	23,888	37,183	57,750	69,543	80,523	79,438
EPS in Rs	0.20	-5.05	2.49	21.42	24.27	38.33	60.28	72.68	84.02	87.43
Dividend Payout %	838.71	0.00	0.00	0.00	15.93	17.91	18.12	18.23	18.29	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	776	797	892	892	892	892	892	892	892	892
Reserves	1,79,816	2,16,395	2,29,429	2,33,603	2,50,168	2,74,669	3,04,696	3,58,039	4,14,047	4,86,144
Borrowings	26,15,257	29,36,176	30,91,258	33,54,289	36,07,061	41,49,127	45,36,570	49,89,687	56,06,147	60,50,755
Other Liabilities	2,77,634	2,91,753	2,94,853	2,99,683	3,39,371	4,20,930	5,18,725	6,05,800	7,12,693	7,76,393
Total Liabilities	30,73,483	34,45,122	36,16,433	38,88,467	41,97,492	48,45,619	53,60,884	59,54,418	67,33,779	73,14,185
Fixed Assets	15,415	51,189	42,035	39,941	39,608	41,600	41,032	45,880	46,072	47,716
CWIP	786	695	925	762	470	116	28	66	42	41
Investments	8,07,375	10,27,281	11,83,794	11,19,248	12,28,284	15,95,100	17,76,490	19,13,108	21,10,548	22,05,601
Other Assets	22,49,908	23,65,957	23,89,679	27,28,516	29,29,130	32,08,801	35,43,334	39,95,365	45,77,116	50,60,827
Total Assets	30,73,483	34,45,122	36,16,433	38,88,467	41,97,492	48,45,619	53,60,884	59,54,418	67,33,779	73,14,185

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	14,477	77,406	-96,508	29,556	23,929	89,919	57,695	-86,014	21,632	48,486
Cash from Investing Activity	-2,747	-4,572	13,053	220	-555	-3,670	-2,652	-966	-3,476	-3,387
Cash from Financing Activity	4,348	-4,196	5,547	448	5,430	7,143	-3,845	6,386	-9,896	-13,739
Net Cash Flow	16,078	68,638	-77,908	30,223	28,803	93,392	51,198	-80,593	8,260	31,361